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Side-by-side financial comparison of FEDERAL SIGNAL CORP (FSS) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
FEDERAL SIGNAL CORP is the larger business by last-quarter revenue ($597.1M vs $340.0M, roughly 1.8× Walker & Dunlop, Inc.). FEDERAL SIGNAL CORP runs the higher net margin — 10.2% vs -12.9%, a 23.1% gap on every dollar of revenue. On growth, FEDERAL SIGNAL CORP posted the faster year-over-year revenue change (26.5% vs -0.4%). FEDERAL SIGNAL CORP produced more free cash flow last quarter ($89.5M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs 18.5%).
The Federal Signal Company was an American manufacturer of railway signaling equipment in the early 20th century. It was located in Albany, New York.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
FSS vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $597.1M | $340.0M |
| Net Profit | $60.8M | $-13.9M |
| Gross Margin | 28.4% | — |
| Operating Margin | 14.0% | -17.2% |
| Net Margin | 10.2% | -12.9% |
| Revenue YoY | 26.5% | -0.4% |
| Net Profit YoY | 21.6% | -131.0% |
| EPS (diluted) | $0.99 | $-0.41 |
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.
| Q4 25 | $597.1M | $340.0M | ||
| Q3 25 | $555.0M | $337.7M | ||
| Q2 25 | $564.6M | $319.2M | ||
| Q1 25 | $463.8M | $237.4M | ||
| Q4 24 | $472.0M | $341.5M | ||
| Q3 24 | $474.2M | $292.3M | ||
| Q2 24 | $490.4M | $270.7M | ||
| Q1 24 | $424.9M | $228.1M |
| Q4 25 | $60.8M | $-13.9M | ||
| Q3 25 | $68.1M | $33.5M | ||
| Q2 25 | $71.4M | $34.0M | ||
| Q1 25 | $46.3M | $2.8M | ||
| Q4 24 | $50.0M | $44.8M | ||
| Q3 24 | $53.9M | $28.8M | ||
| Q2 24 | $60.8M | $22.7M | ||
| Q1 24 | $51.6M | $11.9M |
| Q4 25 | 28.4% | — | ||
| Q3 25 | 29.1% | — | ||
| Q2 25 | 30.0% | — | ||
| Q1 25 | 28.2% | — | ||
| Q4 24 | 28.1% | — | ||
| Q3 24 | 29.6% | — | ||
| Q2 24 | 29.4% | — | ||
| Q1 24 | 27.3% | — |
| Q4 25 | 14.0% | -17.2% | ||
| Q3 25 | 16.9% | 13.6% | ||
| Q2 25 | 17.3% | 14.5% | ||
| Q1 25 | 14.2% | 2.2% | ||
| Q4 24 | 14.9% | 15.3% | ||
| Q3 24 | 16.0% | 12.8% | ||
| Q2 24 | 16.5% | 10.4% | ||
| Q1 24 | 12.8% | 6.0% |
| Q4 25 | 10.2% | -12.9% | ||
| Q3 25 | 12.3% | 9.9% | ||
| Q2 25 | 12.6% | 10.6% | ||
| Q1 25 | 10.0% | 1.2% | ||
| Q4 24 | 10.6% | 13.1% | ||
| Q3 24 | 11.4% | 9.9% | ||
| Q2 24 | 12.4% | 8.4% | ||
| Q1 24 | 12.1% | 5.2% |
| Q4 25 | $0.99 | $-0.41 | ||
| Q3 25 | $1.11 | $0.98 | ||
| Q2 25 | $1.16 | $0.99 | ||
| Q1 25 | $0.75 | $0.08 | ||
| Q4 24 | $0.80 | $1.32 | ||
| Q3 24 | $0.87 | $0.85 | ||
| Q2 24 | $0.99 | $0.67 | ||
| Q1 24 | $0.84 | $0.35 |
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 | $299.3M |
| Total DebtLower is stronger | $564.6M | — |
| Stockholders' EquityBook value | $1.4B | $1.7B |
| Total Assets | $2.4B | $5.1B |
| Debt / EquityLower = less leverage | 0.41× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.7M | $299.3M | ||
| Q3 25 | $54.4M | $274.8M | ||
| Q2 25 | $64.7M | $233.7M | ||
| Q1 25 | $57.5M | $181.0M | ||
| Q4 24 | $91.1M | $279.3M | ||
| Q3 24 | $73.7M | $179.8M | ||
| Q2 24 | $48.6M | $208.1M | ||
| Q1 24 | $48.9M | $216.5M |
| Q4 25 | $564.6M | — | ||
| Q3 25 | $201.2M | — | ||
| Q2 25 | $258.3M | — | ||
| Q1 25 | $266.9M | — | ||
| Q4 24 | $204.4M | — | ||
| Q3 24 | $223.3M | — | ||
| Q2 24 | $248.8M | — | ||
| Q1 24 | $266.8M | — |
| Q4 25 | $1.4B | $1.7B | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.2B | $1.7B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.1B | $1.7B | ||
| Q1 24 | $1.0B | $1.7B |
| Q4 25 | $2.4B | $5.1B | ||
| Q3 25 | $1.9B | $5.8B | ||
| Q2 25 | $1.9B | $4.7B | ||
| Q1 25 | $1.9B | $4.5B | ||
| Q4 24 | $1.8B | $4.4B | ||
| Q3 24 | $1.7B | $4.6B | ||
| Q2 24 | $1.7B | $4.2B | ||
| Q1 24 | $1.7B | $3.8B |
| Q4 25 | 0.41× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.17× | — | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.23× | — | ||
| Q1 24 | 0.26× | — |
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 | $-664.3M |
| Free Cash FlowOCF − Capex | $89.5M | $-680.1M |
| FCF MarginFCF / Revenue | 15.0% | -200.0% |
| Capex IntensityCapex / Revenue | 1.3% | 4.6% |
| Cash ConversionOCF / Net Profit | 1.60× | — |
| TTM Free Cash FlowTrailing 4 quarters | $227.1M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $97.2M | $-664.3M | ||
| Q3 25 | $61.1M | $-948.1M | ||
| Q2 25 | $59.7M | $-238.5M | ||
| Q1 25 | $36.7M | $-281.1M | ||
| Q4 24 | $90.6M | $129.4M | ||
| Q3 24 | $68.8M | $-202.0M | ||
| Q2 24 | $40.6M | $-237.8M | ||
| Q1 24 | $31.3M | $38.4M |
| Q4 25 | $89.5M | $-680.1M | ||
| Q3 25 | $54.1M | $-950.4M | ||
| Q2 25 | $52.4M | $-241.0M | ||
| Q1 25 | $31.1M | $-284.7M | ||
| Q4 24 | $82.1M | $116.4M | ||
| Q3 24 | $60.9M | $-204.0M | ||
| Q2 24 | $24.8M | $-241.7M | ||
| Q1 24 | $22.9M | $35.2M |
| Q4 25 | 15.0% | -200.0% | ||
| Q3 25 | 9.7% | -281.5% | ||
| Q2 25 | 9.3% | -75.5% | ||
| Q1 25 | 6.7% | -120.0% | ||
| Q4 24 | 17.4% | 34.1% | ||
| Q3 24 | 12.8% | -69.8% | ||
| Q2 24 | 5.1% | -89.3% | ||
| Q1 24 | 5.4% | 15.4% |
| Q4 25 | 1.3% | 4.6% | ||
| Q3 25 | 1.3% | 0.7% | ||
| Q2 25 | 1.3% | 0.8% | ||
| Q1 25 | 1.2% | 1.5% | ||
| Q4 24 | 1.8% | 3.8% | ||
| Q3 24 | 1.7% | 0.7% | ||
| Q2 24 | 3.2% | 1.4% | ||
| Q1 24 | 2.0% | 1.4% |
| Q4 25 | 1.60× | — | ||
| Q3 25 | 0.90× | -28.34× | ||
| Q2 25 | 0.84× | -7.02× | ||
| Q1 25 | 0.79× | -102.07× | ||
| Q4 24 | 1.81× | 2.89× | ||
| Q3 24 | 1.28× | -7.01× | ||
| Q2 24 | 0.67× | -10.49× | ||
| Q1 24 | 0.61× | 3.24× |
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% |
WD
Segment breakdown not available.
