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FEDERAL SIGNAL CORP（FSS）与Tyler Technologies（TYL）财务数据对比。点击上方公司名可切换其他公司
Tyler Technologies的季度营收约是FEDERAL SIGNAL CORP的1.0倍（$613.5M vs $597.1M），Tyler Technologies净利率更高（13.2% vs 10.2%，领先3.0%），FEDERAL SIGNAL CORP同比增速更快（26.5% vs 8.6%），FEDERAL SIGNAL CORP自由现金流更多（$89.5M vs $2.0M），过去两年FEDERAL SIGNAL CORP的营收复合增速更高（18.5% vs 6.5%）
联邦信号公司是20世纪早期的美国企业，主营铁路信号设备的制造业务，总部坐落于美国纽约州奥尔巴尼市，其生产的相关信号产品在当时的美国轨道交通行业得到了广泛应用，具备一定的行业知名度。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
FSS vs TYL — 直观对比
营收规模更大
TYL
是对方的1.0倍
$597.1M
营收增速更快
FSS
高出18.0%
8.6%
净利率更高
TYL
高出3.0%
10.2%
自由现金流更多
FSS
多$87.5M
$2.0M
两年增速更快
FSS
近两年复合增速
6.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $597.1M | $613.5M |
| 净利润 | $60.8M | $81.2M |
| 毛利率 | 28.4% | 48.3% |
| 营业利润率 | 14.0% | 16.3% |
| 净利率 | 10.2% | 13.2% |
| 营收同比 | 26.5% | 8.6% |
| 净利润同比 | 21.6% | — |
| 每股收益（稀释后） | $0.99 | $1.88 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FSSTYL
| Q1 26 | — | $613.5M | ||
| Q4 25 | $597.1M | $575.2M | ||
| Q3 25 | $555.0M | $595.9M | ||
| Q2 25 | $564.6M | $596.1M | ||
| Q1 25 | $463.8M | $565.2M | ||
| Q4 24 | $472.0M | $541.1M | ||
| Q3 24 | $474.2M | $543.3M | ||
| Q2 24 | $490.4M | $541.0M |
净利润FSSTYL
| Q1 26 | — | $81.2M | ||
| Q4 25 | $60.8M | $65.5M | ||
| Q3 25 | $68.1M | $84.4M | ||
| Q2 25 | $71.4M | $84.6M | ||
| Q1 25 | $46.3M | $81.1M | ||
| Q4 24 | $50.0M | $65.2M | ||
| Q3 24 | $53.9M | $75.9M | ||
| Q2 24 | $60.8M | $67.7M |
毛利率FSSTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | 28.4% | 45.5% | ||
| Q3 25 | 29.1% | 47.2% | ||
| Q2 25 | 30.0% | 45.8% | ||
| Q1 25 | 28.2% | 47.3% | ||
| Q4 24 | 28.1% | 43.8% | ||
| Q3 24 | 29.6% | 43.7% | ||
| Q2 24 | 29.4% | 44.0% |
营业利润率FSSTYL
| Q1 26 | — | 16.3% | ||
| Q4 25 | 14.0% | 13.0% | ||
| Q3 25 | 16.9% | 16.4% | ||
| Q2 25 | 17.3% | 16.0% | ||
| Q1 25 | 14.2% | 15.8% | ||
| Q4 24 | 14.9% | 13.2% | ||
| Q3 24 | 16.0% | 15.2% | ||
| Q2 24 | 16.5% | 14.4% |
净利率FSSTYL
| Q1 26 | — | 13.2% | ||
| Q4 25 | 10.2% | 11.4% | ||
| Q3 25 | 12.3% | 14.2% | ||
| Q2 25 | 12.6% | 14.2% | ||
| Q1 25 | 10.0% | 14.3% | ||
| Q4 24 | 10.6% | 12.1% | ||
| Q3 24 | 11.4% | 14.0% | ||
| Q2 24 | 12.4% | 12.5% |
每股收益（稀释后）FSSTYL
| Q1 26 | — | $1.88 | ||
| Q4 25 | $0.99 | $1.50 | ||
| Q3 25 | $1.11 | $1.93 | ||
| Q2 25 | $1.16 | $1.93 | ||
| Q1 25 | $0.75 | $1.84 | ||
| Q4 24 | $0.80 | $1.48 | ||
| Q3 24 | $0.87 | $1.74 | ||
| Q2 24 | $0.99 | $1.57 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $63.7M | $346.4M |
| 总债务越低越好 | $564.6M | — |
| 股东权益账面价值 | $1.4B | $3.6B |
| 总资产 | $2.4B | $4.8B |
| 负债/权益比越低杠杆越低 | 0.41× | — |
8季度趋势，按日历期对齐
现金及短期投资FSSTYL
| Q1 26 | — | $346.4M | ||
| Q4 25 | $63.7M | $1.1B | ||
| Q3 25 | $54.4M | $950.8M | ||
| Q2 25 | $64.7M | $892.3M | ||
| Q1 25 | $57.5M | $807.4M | ||
| Q4 24 | $91.1M | $768.0M | ||
| Q3 24 | $73.7M | $544.3M | ||
| Q2 24 | $48.6M | $258.0M |
总债务FSSTYL
| Q1 26 | — | — | ||
| Q4 25 | $564.6M | $599.7M | ||
| Q3 25 | $201.2M | $599.2M | ||
| Q2 25 | $258.3M | $598.8M | ||
| Q1 25 | $266.9M | $598.4M | ||
| Q4 24 | $204.4M | $597.9M | ||
| Q3 24 | $223.3M | $597.5M | ||
| Q2 24 | $248.8M | $597.1M |
股东权益FSSTYL
| Q1 26 | — | $3.6B | ||
| Q4 25 | $1.4B | $3.7B | ||
| Q3 25 | $1.3B | $3.6B | ||
| Q2 25 | $1.3B | $3.6B | ||
| Q1 25 | $1.2B | $3.5B | ||
| Q4 24 | $1.2B | $3.4B | ||
| Q3 24 | $1.1B | $3.3B | ||
| Q2 24 | $1.1B | $3.1B |
总资产FSSTYL
| Q1 26 | — | $4.8B | ||
| Q4 25 | $2.4B | $5.6B | ||
| Q3 25 | $1.9B | $5.5B | ||
| Q2 25 | $1.9B | $5.4B | ||
| Q1 25 | $1.9B | $5.2B | ||
| Q4 24 | $1.8B | $5.2B | ||
| Q3 24 | $1.7B | $5.0B | ||
| Q2 24 | $1.7B | $4.8B |
负债/权益比FSSTYL
| Q1 26 | — | — | ||
| Q4 25 | 0.41× | 0.16× | ||
| Q3 25 | 0.15× | 0.17× | ||
| Q2 25 | 0.20× | 0.16× | ||
| Q1 25 | 0.22× | 0.17× | ||
| Q4 24 | 0.17× | 0.18× | ||
| Q3 24 | 0.19× | 0.18× | ||
| Q2 24 | 0.23× | 0.19× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $97.2M | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $89.5M | $2.0M |
| 自由现金流率自由现金流/营收 | 15.0% | 0.3% |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | 1.60× | 1.32× |
| 过去12个月自由现金流最近4个季度 | $227.1M | $585.7M |
8季度趋势，按日历期对齐
经营现金流FSSTYL
| Q1 26 | — | $107.3M | ||
| Q4 25 | $97.2M | $243.9M | ||
| Q3 25 | $61.1M | $255.2M | ||
| Q2 25 | $59.7M | $98.3M | ||
| Q1 25 | $36.7M | $56.2M | ||
| Q4 24 | $90.6M | $224.8M | ||
| Q3 24 | $68.8M | $263.7M | ||
| Q2 24 | $40.6M | $64.3M |
自由现金流FSSTYL
| Q1 26 | — | $2.0M | ||
| Q4 25 | $89.5M | $239.6M | ||
| Q3 25 | $54.1M | $251.3M | ||
| Q2 25 | $52.4M | $92.8M | ||
| Q1 25 | $31.1M | $53.8M | ||
| Q4 24 | $82.1M | $221.0M | ||
| Q3 24 | $60.9M | $260.8M | ||
| Q2 24 | $24.8M | $57.7M |
自由现金流率FSSTYL
| Q1 26 | — | 0.3% | ||
| Q4 25 | 15.0% | 41.7% | ||
| Q3 25 | 9.7% | 42.2% | ||
| Q2 25 | 9.3% | 15.6% | ||
| Q1 25 | 6.7% | 9.5% | ||
| Q4 24 | 17.4% | 40.8% | ||
| Q3 24 | 12.8% | 48.0% | ||
| Q2 24 | 5.1% | 10.7% |
资本支出强度FSSTYL
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 0.8% | ||
| Q3 25 | 1.3% | 0.7% | ||
| Q2 25 | 1.3% | 0.9% | ||
| Q1 25 | 1.2% | 0.4% | ||
| Q4 24 | 1.8% | 0.7% | ||
| Q3 24 | 1.7% | 0.5% | ||
| Q2 24 | 3.2% | 1.2% |
现金转化率FSSTYL
| Q1 26 | — | 1.32× | ||
| Q4 25 | 1.60× | 3.72× | ||
| Q3 25 | 0.90× | 3.02× | ||
| Q2 25 | 0.84× | 1.16× | ||
| Q1 25 | 0.79× | 0.69× | ||
| Q4 24 | 1.81× | 3.45× | ||
| Q3 24 | 1.28× | 3.47× | ||
| Q2 24 | 0.67× | 0.95× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
