Federal Signal Corporation (FSS)

Financial leverage ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	1,620,500	1,654,600	1,660,700	1,584,300	1,524,300	1,465,100	1,443,800	1,425,100	1,366,100	1,313,800	1,289,400	1,266,100	1,208,800	1,224,700	1,211,200	1,227,100	1,165,500	1,173,600	1,095,700	1,070,200
Total stockholders’ equity	US$ in thousands	1,001,900	955,900	923,900	882,000	860,900	828,000	809,100	787,800	784,000	765,700	746,000	719,600	702,100	679,800	655,400	636,200	641,600	604,200	580,100	548,400
Financial leverage ratio		1.62	1.73	1.80	1.80	1.77	1.77	1.78	1.81	1.74	1.72	1.73	1.76	1.72	1.80	1.85	1.93	1.82	1.94	1.89	1.95

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,620,500K ÷ $1,001,900K
= 1.62

The financial leverage ratio of Federal Signal Corp. has shown a fluctuating trend over the past eight quarters. The ratio ranged from 1.62 to 1.81 during this period. In Q1 2022 and Q2 2023, the ratio was at its highest point of 1.81, indicating that the company had higher financial leverage at those times. Conversely, Q4 2023 recorded the lowest ratio of 1.62, suggesting lower financial leverage.

Overall, the trend in the financial leverage ratio indicates some variability in the company's leverage levels over time. It would be important to further analyze the factors driving these fluctuations to assess the company's capital structure and debt levels.