• Federal Signal average current ratio for 2023 was 2.94, a 7.3% decline from 2022.
• Federal Signal average current ratio for 2022 was 2.74, a 5.38% increase from 2021.
• Federal Signal average current ratio for 2021 was 2.6, a 0.38% increase from 2020.

Current ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations.