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Side-by-side financial comparison of FEDERAL SIGNAL CORP (FSS) and NATIONAL FUEL GAS CO (NFG). Click either name above to swap in a different company.
FEDERAL SIGNAL CORP is the larger business by last-quarter revenue ($597.1M vs $425.9M, roughly 1.4× NATIONAL FUEL GAS CO). NATIONAL FUEL GAS CO runs the higher net margin — 35.7% vs 10.2%, a 25.5% gap on every dollar of revenue. On growth, FEDERAL SIGNAL CORP posted the faster year-over-year revenue change (26.5% vs 1.7%). Over the past eight quarters, FEDERAL SIGNAL CORP's revenue compounded faster (18.5% CAGR vs 12.1%).
The Federal Signal Company was an American manufacturer of railway signaling equipment in the early 20th century. It was located in Albany, New York.
National Fuel Gas Company is a diversified energy company with $6.2 billion in assets distributed among the following five operating segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. National Fuel Gas was incorporated in 1902 and is based in Williamsville, New York.
FSS vs NFG — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $597.1M | $425.9M |
| Net Profit | $60.8M | $152.0M |
| Gross Margin | 28.4% | — |
| Operating Margin | 14.0% | 81.5% |
| Net Margin | 10.2% | 35.7% |
| Revenue YoY | 26.5% | 1.7% |
| Net Profit YoY | 21.6% | — |
| EPS (diluted) | $0.99 | $1.59 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $425.9M | ||
| Q4 25 | $597.1M | $637.9M | ||
| Q3 25 | $555.0M | $443.1M | ||
| Q2 25 | $564.6M | $527.4M | ||
| Q1 25 | $463.8M | $734.8M | ||
| Q4 24 | $472.0M | $513.8M | ||
| Q3 24 | $474.2M | $310.0M | ||
| Q2 24 | $490.4M | $338.6M |
| Q1 26 | — | $152.0M | ||
| Q4 25 | $60.8M | $181.6M | ||
| Q3 25 | $68.1M | $107.3M | ||
| Q2 25 | $71.4M | $149.8M | ||
| Q1 25 | $46.3M | $216.4M | ||
| Q4 24 | $50.0M | $45.0M | ||
| Q3 24 | $53.9M | $-167.6M | ||
| Q2 24 | $60.8M | $-54.2M |
| Q1 26 | — | — | ||
| Q4 25 | 28.4% | 86.6% | ||
| Q3 25 | 29.1% | — | ||
| Q2 25 | 30.0% | 94.7% | ||
| Q1 25 | 28.2% | 81.6% | ||
| Q4 24 | 28.1% | 87.3% | ||
| Q3 24 | 29.6% | — | ||
| Q2 24 | 29.4% | 98.5% |
| Q1 26 | — | 81.5% | ||
| Q4 25 | 14.0% | 43.3% | ||
| Q3 25 | 16.9% | 40.6% | ||
| Q2 25 | 17.3% | 43.7% | ||
| Q1 25 | 14.2% | 43.2% | ||
| Q4 24 | 14.9% | 16.8% | ||
| Q3 24 | 16.0% | -63.4% | ||
| Q2 24 | 16.5% | -15.2% |
| Q1 26 | — | 35.7% | ||
| Q4 25 | 10.2% | 28.5% | ||
| Q3 25 | 12.3% | 24.2% | ||
| Q2 25 | 12.6% | 28.4% | ||
| Q1 25 | 10.0% | 29.4% | ||
| Q4 24 | 10.6% | 8.8% | ||
| Q3 24 | 11.4% | -54.1% | ||
| Q2 24 | 12.4% | -16.0% |
| Q1 26 | — | $1.59 | ||
| Q4 25 | $0.99 | $1.98 | ||
| Q3 25 | $1.11 | $1.18 | ||
| Q2 25 | $1.16 | $1.64 | ||
| Q1 25 | $0.75 | $2.37 | ||
| Q4 24 | $0.80 | $0.49 | ||
| Q3 24 | $0.87 | $-1.81 | ||
| Q2 24 | $0.99 | $-0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $63.7M | — |
| Total DebtLower is stronger | $564.6M | $300.0M |
| Stockholders' EquityBook value | $1.4B | — |
| Total Assets | $2.4B | $9.1B |
| Debt / EquityLower = less leverage | 0.41× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $271.4M | ||
| Q3 25 | $54.4M | $43.2M | ||
| Q2 25 | $64.7M | $39.3M | ||
| Q1 25 | $57.5M | $40.0M | ||
| Q4 24 | $91.1M | $48.7M | ||
| Q3 24 | $73.7M | $38.2M | ||
| Q2 24 | $48.6M | $81.4M |
| Q1 26 | — | $300.0M | ||
| Q4 25 | $564.6M | $2.7B | ||
| Q3 25 | $201.2M | $2.7B | ||
| Q2 25 | $258.3M | $2.7B | ||
| Q1 25 | $266.9M | $2.7B | ||
| Q4 24 | $204.4M | $2.7B | ||
| Q3 24 | $223.3M | $2.7B | ||
| Q2 24 | $248.8M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | $1.4B | $3.6B | ||
| Q3 25 | $1.3B | $3.1B | ||
| Q2 25 | $1.3B | $3.0B | ||
| Q1 25 | $1.2B | $2.8B | ||
| Q4 24 | $1.2B | $-76.2M | ||
| Q3 24 | $1.1B | $-15.5M | ||
| Q2 24 | $1.1B | $5.0M |
| Q1 26 | — | $9.1B | ||
| Q4 25 | $2.4B | $9.2B | ||
| Q3 25 | $1.9B | $8.7B | ||
| Q2 25 | $1.9B | $8.4B | ||
| Q1 25 | $1.9B | $8.5B | ||
| Q4 24 | $1.8B | $8.3B | ||
| Q3 24 | $1.7B | $8.3B | ||
| Q2 24 | $1.7B | $8.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.41× | 0.75× | ||
| Q3 25 | 0.15× | 0.87× | ||
| Q2 25 | 0.20× | 0.90× | ||
| Q1 25 | 0.22× | 0.99× | ||
| Q4 24 | 0.17× | — | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.23× | 532.10× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $97.2M | $657.3M |
| Free Cash FlowOCF − Capex | $89.5M | — |
| FCF MarginFCF / Revenue | 15.0% | — |
| Capex IntensityCapex / Revenue | 1.3% | 117.0% |
| Cash ConversionOCF / Net Profit | 1.60× | 4.32× |
| TTM Free Cash FlowTrailing 4 quarters | $227.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $657.3M | ||
| Q4 25 | $97.2M | $274.9M | ||
| Q3 25 | $61.1M | $237.8M | ||
| Q2 25 | $59.7M | $388.4M | ||
| Q1 25 | $36.7M | $253.8M | ||
| Q4 24 | $90.6M | $220.1M | ||
| Q3 24 | $68.8M | $197.9M | ||
| Q2 24 | $40.6M | $281.8M |
| Q1 26 | — | — | ||
| Q4 25 | $89.5M | $-2.7M | ||
| Q3 25 | $54.1M | $-47.8M | ||
| Q2 25 | $52.4M | $195.3M | ||
| Q1 25 | $31.1M | $59.9M | ||
| Q4 24 | $82.1M | $-20.3M | ||
| Q3 24 | $60.9M | $-49.1M | ||
| Q2 24 | $24.8M | $79.5M |
| Q1 26 | — | — | ||
| Q4 25 | 15.0% | -0.4% | ||
| Q3 25 | 9.7% | -10.8% | ||
| Q2 25 | 9.3% | 37.0% | ||
| Q1 25 | 6.7% | 8.2% | ||
| Q4 24 | 17.4% | -4.0% | ||
| Q3 24 | 12.8% | -15.8% | ||
| Q2 24 | 5.1% | 23.5% |
| Q1 26 | — | 117.0% | ||
| Q4 25 | 1.3% | 43.5% | ||
| Q3 25 | 1.3% | 64.4% | ||
| Q2 25 | 1.3% | 36.6% | ||
| Q1 25 | 1.2% | 26.4% | ||
| Q4 24 | 1.8% | 46.8% | ||
| Q3 24 | 1.7% | 79.7% | ||
| Q2 24 | 3.2% | 59.7% |
| Q1 26 | — | 4.32× | ||
| Q4 25 | 1.60× | 1.51× | ||
| Q3 25 | 0.90× | 2.21× | ||
| Q2 25 | 0.84× | 2.59× | ||
| Q1 25 | 0.79× | 1.17× | ||
| Q4 24 | 1.81× | 4.89× | ||
| Q3 24 | 1.28× | — | ||
| Q2 24 | 0.67× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FSS
| Vehiclesandequipment | $403.4M | 68% |
| Parts | $66.8M | 11% |
| Publicsafetyandsecurityequipment | $62.2M | 10% |
| Rentalincome | $19.0M | 3% |
| Industrialsignalingequipment | $18.2M | 3% |
| Other | $14.9M | 2% |
| Warningsystems | $12.6M | 2% |
NFG
| Revenues from External Customers | $425.8M | 100% |
| Intersegment Revenues | $126.0K | 0% |
