vs
FEDERAL SIGNAL CORP（FSS）与Worthington Steel, Inc.（WS）财务数据对比。点击上方公司名可切换其他公司
Worthington Steel, Inc.的季度营收约是FEDERAL SIGNAL CORP的1.5倍（$871.9M vs $597.1M），FEDERAL SIGNAL CORP净利率更高（10.2% vs 2.2%，领先8.0%），FEDERAL SIGNAL CORP同比增速更快（26.5% vs 18.0%），FEDERAL SIGNAL CORP自由现金流更多（$89.5M vs $74.6M），过去两年FEDERAL SIGNAL CORP的营收复合增速更高（18.5% vs 3.9%）
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。
沃辛顿钢铁是总部位于美国俄亥俄州哥伦布市的工业制造企业，下设消费品和建筑建材两大业务板块，主营各类压力容器的设计与生产，覆盖丙烷、氧气、氦气储罐，制冷剂及工业气瓶，露营与民用气瓶，以及用于存储、处理、加热、扩容和流量控制的供水系统罐体等产品。
FSS vs WS — 直观对比
营收规模更大
WS
是对方的1.5倍
$597.1M
营收增速更快
FSS
高出8.5%
18.0%
净利率更高
FSS
高出8.0%
2.2%
自由现金流更多
FSS
多$14.9M
$74.6M
两年增速更快
FSS
近两年复合增速
3.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $597.1M | $871.9M |
| 净利润 | $60.8M | $18.8M |
| 毛利率 | 28.4% | 10.7% |
| 营业利润率 | 14.0% | 2.5% |
| 净利率 | 10.2% | 2.2% |
| 营收同比 | 26.5% | 18.0% |
| 净利润同比 | 21.6% | 46.9% |
| 每股收益（稀释后） | $0.99 | $0.37 |
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FSSWS
| Q4 25 | $597.1M | $871.9M | ||
| Q3 25 | $555.0M | $872.9M | ||
| Q2 25 | $564.6M | $832.9M | ||
| Q1 25 | $463.8M | $687.4M | ||
| Q4 24 | $472.0M | $739.0M | ||
| Q3 24 | $474.2M | $834.0M | ||
| Q2 24 | $490.4M | — | ||
| Q1 24 | $424.9M | $805.8M |
净利润FSSWS
| Q4 25 | $60.8M | $18.8M | ||
| Q3 25 | $68.1M | $36.8M | ||
| Q2 25 | $71.4M | $55.7M | ||
| Q1 25 | $46.3M | $13.8M | ||
| Q4 24 | $50.0M | $12.8M | ||
| Q3 24 | $53.9M | $28.4M | ||
| Q2 24 | $60.8M | — | ||
| Q1 24 | $51.6M | $49.0M |
毛利率FSSWS
| Q4 25 | 28.4% | 10.7% | ||
| Q3 25 | 29.1% | 13.2% | ||
| Q2 25 | 30.0% | 15.2% | ||
| Q1 25 | 28.2% | 11.8% | ||
| Q4 24 | 28.1% | 10.8% | ||
| Q3 24 | 29.6% | 12.0% | ||
| Q2 24 | 29.4% | — | ||
| Q1 24 | 27.3% | 14.9% |
营业利润率FSSWS
| Q4 25 | 14.0% | 2.5% | ||
| Q3 25 | 16.9% | 5.5% | ||
| Q2 25 | 17.3% | 8.0% | ||
| Q1 25 | 14.2% | 2.7% | ||
| Q4 24 | 14.9% | 2.6% | ||
| Q3 24 | 16.0% | 5.2% | ||
| Q2 24 | 16.5% | — | ||
| Q1 24 | 12.8% | 8.2% |
净利率FSSWS
| Q4 25 | 10.2% | 2.2% | ||
| Q3 25 | 12.3% | 4.2% | ||
| Q2 25 | 12.6% | 6.7% | ||
| Q1 25 | 10.0% | 2.0% | ||
| Q4 24 | 10.6% | 1.7% | ||
| Q3 24 | 11.4% | 3.4% | ||
| Q2 24 | 12.4% | — | ||
| Q1 24 | 12.1% | 6.1% |
每股收益（稀释后）FSSWS
| Q4 25 | $0.99 | $0.37 | ||
| Q3 25 | $1.11 | $0.72 | ||
| Q2 25 | $1.16 | $1.11 | ||
| Q1 25 | $0.75 | $0.27 | ||
| Q4 24 | $0.80 | $0.25 | ||
| Q3 24 | $0.87 | $0.56 | ||
| Q2 24 | $0.99 | — | ||
| Q1 24 | $0.84 | $0.98 |
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 | $89.8M |
| 总债务越低越好 | $564.6M | $72.1M |
| 股东权益账面价值 | $1.4B | $1.1B |
| 总资产 | $2.4B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.41× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资FSSWS
| Q4 25 | $63.7M | $89.8M | ||
| Q3 25 | $54.4M | $78.3M | ||
| Q2 25 | $64.7M | $38.0M | ||
| Q1 25 | $57.5M | $63.3M | ||
| Q4 24 | $91.1M | $52.0M | ||
| Q3 24 | $73.7M | $36.0M | ||
| Q2 24 | $48.6M | — | ||
| Q1 24 | $48.9M | $60.8M |
总债务FSSWS
| Q4 25 | $564.6M | $72.1M | ||
| Q3 25 | $201.2M | $73.4M | ||
| Q2 25 | $258.3M | $151.5M | ||
| Q1 25 | $266.9M | — | ||
| Q4 24 | $204.4M | $115.0M | ||
| Q3 24 | $223.3M | $122.2M | ||
| Q2 24 | $248.8M | — | ||
| Q1 24 | $266.8M | $147.2M |
股东权益FSSWS
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.2B | $1.0B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.0B | $937.6M |
总资产FSSWS
| Q4 25 | $2.4B | $2.1B | ||
| Q3 25 | $1.9B | $2.2B | ||
| Q2 25 | $1.9B | $2.0B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $1.8B | $1.7B | ||
| Q3 24 | $1.7B | $1.8B | ||
| Q2 24 | $1.7B | — | ||
| Q1 24 | $1.7B | $1.8B |
负债/权益比FSSWS
| Q4 25 | 0.41× | 0.06× | ||
| Q3 25 | 0.15× | 0.07× | ||
| Q2 25 | 0.20× | 0.14× | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.17× | 0.11× | ||
| Q3 24 | 0.19× | 0.12× | ||
| Q2 24 | 0.23× | — | ||
| Q1 24 | 0.26× | 0.16× |
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 | $99.3M |
| 自由现金流经营现金流 - 资本支出 | $89.5M | $74.6M |
| 自由现金流率自由现金流/营收 | 15.0% | 8.6% |
| 资本支出强度资本支出/营收 | 1.3% | 2.8% |
| 现金转化率经营现金流/净利润 | 1.60× | 5.28× |
| 过去12个月自由现金流最近4个季度 | $227.1M | $72.5M |
8季度趋势，按日历期对齐
经营现金流FSSWS
| Q4 25 | $97.2M | $99.3M | ||
| Q3 25 | $61.1M | $-6.3M | ||
| Q2 25 | $59.7M | $53.9M | ||
| Q1 25 | $36.7M | $53.8M | ||
| Q4 24 | $90.6M | $68.0M | ||
| Q3 24 | $68.8M | $54.6M | ||
| Q2 24 | $40.6M | — | ||
| Q1 24 | $31.3M | $44.7M |
自由现金流FSSWS
| Q4 25 | $89.5M | $74.6M | ||
| Q3 25 | $54.1M | $-35.7M | ||
| Q2 25 | $52.4M | $8.4M | ||
| Q1 25 | $31.1M | $25.2M | ||
| Q4 24 | $82.1M | $33.2M | ||
| Q3 24 | $60.9M | $33.1M | ||
| Q2 24 | $24.8M | — | ||
| Q1 24 | $22.9M | $22.3M |
自由现金流率FSSWS
| Q4 25 | 15.0% | 8.6% | ||
| Q3 25 | 9.7% | -4.1% | ||
| Q2 25 | 9.3% | 1.0% | ||
| Q1 25 | 6.7% | 3.7% | ||
| Q4 24 | 17.4% | 4.5% | ||
| Q3 24 | 12.8% | 4.0% | ||
| Q2 24 | 5.1% | — | ||
| Q1 24 | 5.4% | 2.8% |
资本支出强度FSSWS
| Q4 25 | 1.3% | 2.8% | ||
| Q3 25 | 1.3% | 3.4% | ||
| Q2 25 | 1.3% | 5.5% | ||
| Q1 25 | 1.2% | 4.2% | ||
| Q4 24 | 1.8% | 4.7% | ||
| Q3 24 | 1.7% | 2.6% | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 2.0% | 2.8% |
现金转化率FSSWS
| Q4 25 | 1.60× | 5.28× | ||
| Q3 25 | 0.90× | -0.17× | ||
| Q2 25 | 0.84× | 0.97× | ||
| Q1 25 | 0.79× | 3.90× | ||
| Q4 24 | 1.81× | 5.31× | ||
| Q3 24 | 1.28× | 1.92× | ||
| Q2 24 | 0.67× | — | ||
| Q1 24 | 0.61× | 0.91× |
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% |
WS
| Direct | $844.1M | 97% |
| Toll | $27.8M | 3% |
