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Side-by-side financial comparison of FEDERAL SIGNAL CORP (FSS) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
OCEANEERING INTERNATIONAL INC is the larger business by last-quarter revenue ($692.4M vs $597.1M, roughly 1.2× FEDERAL SIGNAL CORP). FEDERAL SIGNAL CORP runs the higher net margin — 10.2% vs 5.2%, a 5.0% gap on every dollar of revenue. On growth, FEDERAL SIGNAL CORP posted the faster year-over-year revenue change (26.5% vs 2.7%). FEDERAL SIGNAL CORP produced more free cash flow last quarter ($89.5M vs $-76.5M). Over the past eight quarters, FEDERAL SIGNAL CORP's revenue compounded faster (18.5% CAGR vs 1.8%).
The Federal Signal Company was an American manufacturer of railway signaling equipment in the early 20th century. It was located in Albany, New York.
Oceaneering International, Inc. is a subsea engineering and applied technology company based in Houston, Texas, U.S. that provides engineered services and hardware to customers who operate in marine, space, and other environments.
FSS vs OII — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $597.1M | $692.4M |
| Net Profit | $60.8M | $36.1M |
| Gross Margin | 28.4% | — |
| Operating Margin | 14.0% | — |
| Net Margin | 10.2% | 5.2% |
| Revenue YoY | 26.5% | 2.7% |
| Net Profit YoY | 21.6% | -79.7% |
| EPS (diluted) | $0.99 | $0.36 |
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 | — | $692.4M | ||
| Q4 25 | $597.1M | $668.6M | ||
| Q3 25 | $555.0M | $742.9M | ||
| Q2 25 | $564.6M | $698.2M | ||
| Q1 25 | $463.8M | $674.5M | ||
| Q4 24 | $472.0M | $713.5M | ||
| Q3 24 | $474.2M | $679.8M | ||
| Q2 24 | $490.4M | $668.8M |
| Q1 26 | — | $36.1M | ||
| Q4 25 | $60.8M | $177.7M | ||
| Q3 25 | $68.1M | $71.3M | ||
| Q2 25 | $71.4M | $54.4M | ||
| Q1 25 | $46.3M | $50.4M | ||
| Q4 24 | $50.0M | $56.1M | ||
| Q3 24 | $53.9M | $41.2M | ||
| Q2 24 | $60.8M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | 28.4% | 19.8% | ||
| Q3 25 | 29.1% | 20.6% | ||
| Q2 25 | 30.0% | 21.3% | ||
| Q1 25 | 28.2% | 20.0% | ||
| Q4 24 | 28.1% | 19.9% | ||
| Q3 24 | 29.6% | 19.3% | ||
| Q2 24 | 29.4% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | 14.0% | 9.8% | ||
| Q3 25 | 16.9% | 11.6% | ||
| Q2 25 | 17.3% | 11.3% | ||
| Q1 25 | 14.2% | 10.9% | ||
| Q4 24 | 14.9% | 10.9% | ||
| Q3 24 | 16.0% | 10.5% | ||
| Q2 24 | 16.5% | 9.0% |
| Q1 26 | — | 5.2% | ||
| Q4 25 | 10.2% | 26.6% | ||
| Q3 25 | 12.3% | 9.6% | ||
| Q2 25 | 12.6% | 7.8% | ||
| Q1 25 | 10.0% | 7.5% | ||
| Q4 24 | 10.6% | 7.9% | ||
| Q3 24 | 11.4% | 6.1% | ||
| Q2 24 | 12.4% | 5.2% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | $0.99 | $1.75 | ||
| Q3 25 | $1.11 | $0.71 | ||
| Q2 25 | $1.16 | $0.54 | ||
| Q1 25 | $0.75 | $0.49 | ||
| Q4 24 | $0.80 | $0.55 | ||
| Q3 24 | $0.87 | $0.40 | ||
| Q2 24 | $0.99 | $0.34 |
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 | $488.8M |
| Stockholders' EquityBook value | $1.4B | $1.1B |
| Total Assets | $2.4B | $2.6B |
| Debt / EquityLower = less leverage | 0.41× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $695.9M | ||
| Q3 25 | $54.4M | $7.0M | ||
| Q2 25 | $64.7M | $7.0M | ||
| Q1 25 | $57.5M | $7.0M | ||
| Q4 24 | $91.1M | $504.5M | ||
| Q3 24 | $73.7M | — | ||
| Q2 24 | $48.6M | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | $564.6M | $487.4M | ||
| Q3 25 | $201.2M | — | ||
| Q2 25 | $258.3M | — | ||
| Q1 25 | $266.9M | — | ||
| Q4 24 | $204.4M | $482.0M | ||
| Q3 24 | $223.3M | — | ||
| Q2 24 | $248.8M | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.3B | $907.7M | ||
| Q2 25 | $1.3B | $842.1M | ||
| Q1 25 | $1.2B | $773.1M | ||
| Q4 24 | $1.2B | $714.3M | ||
| Q3 24 | $1.1B | $698.0M | ||
| Q2 24 | $1.1B | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $2.4B | $2.7B | ||
| Q3 25 | $1.9B | $2.5B | ||
| Q2 25 | $1.9B | $2.3B | ||
| Q1 25 | $1.9B | $2.3B | ||
| Q4 24 | $1.8B | $2.3B | ||
| Q3 24 | $1.7B | $2.4B | ||
| Q2 24 | $1.7B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | 0.41× | 0.46× | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.17× | 0.67× | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.23× | — |
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 | — |
| Free Cash FlowOCF − Capex | $89.5M | $-76.5M |
| FCF MarginFCF / Revenue | 15.0% | -11.1% |
| Capex IntensityCapex / Revenue | 1.3% | 2.5% |
| Cash ConversionOCF / Net Profit | 1.60× | — |
| TTM Free Cash FlowTrailing 4 quarters | $227.1M | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $97.2M | $221.1M | ||
| Q3 25 | $61.1M | $101.3M | ||
| Q2 25 | $59.7M | $77.2M | ||
| Q1 25 | $36.7M | $-80.7M | ||
| Q4 24 | $90.6M | $128.4M | ||
| Q3 24 | $68.8M | $91.9M | ||
| Q2 24 | $40.6M | $52.6M |
| Q1 26 | — | $-76.5M | ||
| Q4 25 | $89.5M | $190.7M | ||
| Q3 25 | $54.1M | $77.0M | ||
| Q2 25 | $52.4M | $46.9M | ||
| Q1 25 | $31.1M | $-106.8M | ||
| Q4 24 | $82.1M | $94.5M | ||
| Q3 24 | $60.9M | $67.0M | ||
| Q2 24 | $24.8M | $29.8M |
| Q1 26 | — | -11.1% | ||
| Q4 25 | 15.0% | 28.5% | ||
| Q3 25 | 9.7% | 10.4% | ||
| Q2 25 | 9.3% | 6.7% | ||
| Q1 25 | 6.7% | -15.8% | ||
| Q4 24 | 17.4% | 13.2% | ||
| Q3 24 | 12.8% | 9.9% | ||
| Q2 24 | 5.1% | 4.5% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | 1.3% | 4.6% | ||
| Q3 25 | 1.3% | 3.3% | ||
| Q2 25 | 1.3% | 4.3% | ||
| Q1 25 | 1.2% | 3.9% | ||
| Q4 24 | 1.8% | 4.7% | ||
| Q3 24 | 1.7% | 3.7% | ||
| Q2 24 | 3.2% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.60× | 1.24× | ||
| Q3 25 | 0.90× | 1.42× | ||
| Q2 25 | 0.84× | 1.42× | ||
| Q1 25 | 0.79× | -1.60× | ||
| Q4 24 | 1.81× | 2.29× | ||
| Q3 24 | 1.28× | 2.23× | ||
| Q2 24 | 0.67× | 1.50× |
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% |
OII
| Backlog at end of period | $492.0M | 71% |
| Other | $162.8M | 24% |
| ROV days available | $22.5M | 3% |
| ROV days utilized | $15.1M | 2% |
