ICF International, Inc. ICFI

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Insider Decisions

Total buys 0.65
Total sells 1.96
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy 1 1 1
Sell 1 1 1 1
Insider Ownership 2.22%

Capital & Financial Ratios

Market Cap 1,510.00
Revenue 1,821.07
Net Income 88.55
Free Cash Flow 198.55
Net Debt 302.33
Current Ratio 1.39
Debt/Equity 0.39
P/E ratio 17.20
P/S ratio 0.83
P/B ratio 1.43
Past 5Y EPS Growth 10.18%
This Y EPS Growth 4.99%
Next Y EPS Growth 8.47%
Next 5Y EPS Growth 6.60%
in millions of $

Dividends

Payout Ratio 0.16
Annual Dividend Rate 0.56
Annual Dividend Yield 0.40%
total individual payouts
2026 0.42
2025 0.56
2024 0.56
2023 0.56
2022 0.56
2021 0.56
2020 0.56
2019 0.56
2018 0.56
2017 ‡‡‡
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 9.45 18.82 53.28 103.90
Receivables 207.82 263.18 256.08 258.10
Inventory
Other 201.83 188.94 186.68 196.08
447.16 492.07 514.44 579.13
2023 2024 2025 Q'26
Payables 134.50 159.52 123.52 83.81
ST’ Debt 26.00
Other 22.00 24.58 43.44 45.72
418.23 449.18 404.28 417.99
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 437.50 474.50
’25 487.62 476.16 465.41 443.67 1,872.85
’24 494.44 512.03 517.00 496.32 2,019.79
’23 483.28 500.09 501.52 478.35 1,963.24
’22 413.47 423.11 467.78 475.61 1,779.96
’21 378.48 392.53 394.06 387.99 1,553.05
’20 358.24 353.99 360.32 434.34 1,506.88
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (3.14) 99.72
’25 (33.03) 51.96 47.32 75.63 141.87
’24 (10.00) 60.64 25.55 95.36 171.54
’23 (16.83) 36.71 25.67 106.83 152.38
’22 (7.05) 13.46 0.19 155.61 162.21
’21 4.96 1.38 58.42 45.44 110.21
’20 (15.23) 26.03 84.37 77.97 173.15
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 (5.97) 94.03
’25 (36.49) 46.21 41.78 68.71 120.21
’24 (15.23) 55.47 20.38 89.49 150.11
’23 (23.27) 30.01 20.94 102.37 130.05
’22 (13.51) 8.89 (6.11) 148.46 137.73
’21 1.37 (2.50) 53.62 37.79 90.27
’20 (19.94) 21.72 80.48 73.20 155.46
in millions of $

EPS

Mar Jun Sep Dec Year
’26 1.12 1.49
’25 1.44 1.28 1.28 0.94 4.95
’24 1.44 1.36 1.73 1.30 5.82
’23 0.87 1.07 1.25 1.16 4.35
’22 0.94 0.97 1.01 0.47 3.38
’21 0.96 1.07 1.07 0.63 3.72
’20 0.55 0.72 0.94 0.67 2.87

Target Price Range

High ‡‡‡‡‡ ‡‡‡‡‡
Average ‡‡‡‡‡ ‡‡‡‡‡
Low ‡‡‡‡‡ ‡‡‡‡

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell
Powerpack only forecast
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 84.68 94.53 116.66 72.03
Low Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 121.28 145.40 179.67 135.34
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9,000 9,000 9,300 8,400
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.20 0.22 0.22 0.22
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,779.96 1,963.24 2,019.79 1,872.85 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 36.27% 35.56% 36.53% 37.16%
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 83.98 96.55 138.06 111.99
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.72% 4.92% 6.84% 5.98% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 64.24 82.61 110.17 91.59 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 49.92 60.74 53.48 58.15
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 94.59 104.42 107.74 101.71 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ 3.41 4.39 5.88 4.97 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.62 8.10 9.15 7.70
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (1.30) (1.19) (1.14) (1.18) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.32 6.92 8.01 6.53
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 45.34 48.80 52.41 55.85
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 18.82 18.80 18.75 18.41 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 29.45 30.68 20.27 17.13 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.06 1.29 1.11 0.84 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.22 2.76 2.27 1.53 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.38 1.51 1.31 1.03 ‡‡‡ ‡‡‡‡ ‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 17.78 22.81 17.67 16.08
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 162.21 152.38 171.54 141.87 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (24.47) (22.34) (21.43) (21.66) ‡‡‡‡‡
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 137.73 130.05 150.11 120.21
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 50.73 28.93 42.89 110.16
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 572.45 444.28 423.00 409.91
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 559.48 434.83 404.19 356.63
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 853.21 917.59 982.46 1,028.48
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.26% 4.03% 5.40% 4.45%
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.81% 6.11% 7.47% 6.56%
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.76% 9.33% 11.60% 9.11%
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

ICF International (ICFI) has surfed a decade of federal spending waves, ballooning revenue 70% to $2.02 billion from 2016-2024 through acquisitions and steady contracts in defense, health, and cybersecurity. Yet the shine fades under scrutiny: per-employee productivity plunged 8% amid an 86% headcount surge to 9,300, hinting at bloat as Uncle Sam eyes deficits and hiring freezes. Gross margins cling to the mid-30s, while 2025 forecasts predict a sharp 7% revenue dip to $1.87 billion— a potential “digestion year” after M&A that could squeeze already fragile efficiency.

Profitability flickered with volatility—EBT margins hit a decade-high 6.8% in 2024, ROE 11.6%, and FCF per share $8.01—but ties inversely to hiring sprees, lagging peers like Booz Allen. Valuation tempts at forward 15x PE (38% below historicals), 1.1x PS, with analysts eyeing 41% upside to $180+ targets on EPS ramps to $6.62 by 2027. Insiders send mixed signals: directors scooped $400K in shares at lows, while the COO trimmed holdings.

This government gravy train—60%+ federal reliance—risks derailing on election whims or sequesters, turning cheap multiples into a trap if ROE slips or debt bites. Stock’s 150% decade gain masks the cracks; is it a contrarian rerating play or fiscal cliff casualty? Dive deeper for the full narrative.

ICF International, Inc. (ICFI) Latest News

News by impact score

Fine-tune

21 Sep

4 Simply Wall St., 2:15 AM

ICF International (ICFI) was named an OpenAI Select Partner, highlighting its work helping government and commercial clients adopt AI with governance, risk controls, and human-centered design. Stock rose ~32% in 90 days but fell ~4% in 30 days; 1-year TSR down ~9.8%. Simply Wall St flags potential undervaluation, fair value $124 vs $85.21 close, driven by ICF Fathom AI rollout. Fathom AI aims to win federal modernization contracts and expand recurring, margin-accretive revenues across government, commercial, and state/international clients. Risks include dependence on continued government contract flow and seamless deal integration. Valuation implies upside if AI adoption and contract flow persist, but policy or execution risks could cap gains. OpenAI Select Partner status and Fathom AI rollout could meaningfully boost recurring revenue and margins if government contracts remain strong.

20 Sep

4 , 2:08 PM

ICF International is gaining leverage from a new AI partnership designed to accelerate its data analytics, forecasting, and advisory capabilities across government and commercial clients. The alliance will integrate advanced machine learning, natural language processing, and automation into project work to improve speed, accuracy, and decision support. Early pilots suggest enhanced program evaluation, risk assessment, and policy modeling, enabling ICFI to expand service offerings, win new contracts, and potentially command higher value through differentiated capabilities. Management says the collaboration will scale across core practices such as health, climate, and public-sector modernization, with phased rollouts and measurable efficiency gains. The deal, while promising, hinges on successful data integration, governance, and client trust around AI usage; revenue impact will depend on contract wins and client adoption in coming quarters. AI partnership is a significant strategic lever that could boost efficiency, expand offerings, and improve client wins, potentially reorienting growth.

9 Sep

4 , 4:05 PM

ICF International, Inc. (ICFI) named OpenAI Select Partner. OpenAI Select Partner status boosts ICF's AI service offerings and competitive edge in key growth markets.

27 Aug

3 , 4:05 PM

Consortium of Northeast utilities and service providers awards ICF $20 million energy efficiency contract. $20 million contract win adds revenue in core energy efficiency operations.

15 Aug

3 , 5:41 PM

ICF International's Q2 earnings call drew analyst questions on backlog expansion, government contract wins, margin trends, digital services demand, and acquisition contributions to revenue growth. Earnings call questions reveal operational details that may sway near-term sentiment without signaling transformative changes.

14 Aug

4 www.marketbeat.com, 12:04 PM

ICF International anticipates growth rebound from traction in energy, AI and federal modernization segments. Energy, AI and federal modernization traction positions ICF International for significant growth rebound and stronger market performance.

13 Aug

3 transcript www.fool.com, 6:44 PM

ICF International held its Q2 2026 earnings call, covering financial results, business performance, and forward outlook. Quarterly earnings results and guidance directly shape near-term investor expectations and stock movement.

12 Aug

4 , 2:14 AM

ICF International secured a $35 million energy efficiency contract. $35 million contract adds meaningful revenue and strengthens competitive standing in energy services.

3 , 9:12 AM

ICF International (ICFI) shares rose 5.1% after the company reaffirmed its 2026 guidance backed by robust backlog. Reaffirmed 2026 guidance with strong backlog indicates stable outlook without major shifts in trajectory.

10 Aug

3 , 12:20 PM

ICF International exhibits improving growth but faces ongoing risks, raising questions about stock purchase suitability. Growth improvement and persisting risks moderately influence ICFI trajectory and investor views without major shifts.

7 Aug

3 transcript app.moby.co, 8:30 AM

ICF International, Inc. held its Q2 2026 earnings call covering financial results, operational updates and forward guidance. Earnings call details financial performance and outlook that can shift near-term investor sentiment and valuation.

3 transcript , 1:10 AM

ICF International reported Q2 2026 earnings with non-federal growth as the primary driver, including updates on revenue performance, contract wins, and operational outlook. Non-federal growth directly supports revenue expansion and improves positioning in core government-adjacent markets.

6 Aug

3 www.marketbeat.com, 11:03 PM

ICF International, Inc. (ICFI) released highlights from its Q2 earnings call covering financial results and operational updates. Q2 earnings highlights deliver performance updates that may shift near-term investor sentiment without major strategic shifts.

3 , 5:40 PM

ICF International (ICFI) beat Q2 earnings estimates. Q2 earnings beat signals positive financial results that can lift near-term stock performance and sentiment.

3 , 4:05 PM

ICF International reported financial results for the second quarter of 2026. Quarterly results provide updates on revenue and earnings that may shift near-term investor views without indicating major strategic shifts.

5 Aug

3 , 4:05 PM

Entergy Louisiana awards ICF International a $35 million energy efficiency contract. Contract adds measurable revenue without shifting overall company trajectory.

30 Jul

4 , 8:08 AM

ICF International advances AI contract work, refocusing market attention on the firm's undervalued status. AI contract progress represents a major strategic development likely to shift company trajectory and investor sentiment.

28 Jul

3 , 4:05 PM

ICF International solution achieves awardable status in Department of War Platform One Solutions Marketplace. Awardable status in government solutions marketplace opens path to new defense contracts for ICF.

21 Jul

3 , 4:05 PM

ICF International, Inc. (ICFI) secured a new $25 million agreement to deliver cyber services to the Army Research Lab. $25 million cyber contract adds noticeable revenue in a key growth area but remains limited in scale relative to overall operations.

22 Jun

3 Zacks, 10:03 AM

Buyouts and liquidity support ICF International despite its elevated cost structure. Buyouts deliver liquidity that offsets elevated costs without indicating transformative change.

2 Jun

3 Zacks, 9:18 AM

Investors should hold ICF International (ICFI) stock due to supportive factors in its performance outlook and positioning. Hold recommendation cites factors that may moderately influence ICFI performance and sentiment without major trajectory shifts.

20 May

3 PR Newswire, 4:05 PM

ICF International launches a new accelerator enabled by Salesforce and DocuSign to support digital transformation and client solutions. Launch of a technology-enabled accelerator may moderately boost ICF's service innovation and market positioning.

18 May

3 StockStory, 8:44 AM

ICF International held its Q1 earnings call and addressed the top five questions from analysts on financial results, contract wins, and growth outlook. Q1 earnings updates and analyst questions supply performance data and outlook details that moderately shape investor sentiment and near-term valuation.

12 May

3 StockStory, 5:00 AM

ICF International's Q1 revenue declined but was offset by stable backlog and growth in key markets. Q1 revenue decline affects financial performance but is balanced by backlog stability and key market growth.

11 May

3 Zacks, 11:57 AM

ICF International Inc. (ICFI) stock declined 6.6% since its Q1 earnings and revenue missed expectations. Q1 earnings and revenue miss triggered a 6.6% stock drop, affecting financial performance and investor sentiment moderately.

8 May

4 Zacks, 9:30 AM

ICF International (ICFI) reported Q1 earnings, with key metrics indicating performance across revenue, EPS, and growth areas. Q1 earnings reports reveal financial health and operational results that can significantly shift investor sentiment and stock trajectory.

7 May

4 www.marketbeat.com, 11:07 PM

ICF International's Q1 earnings call highlights key financial results, revenue growth, contract wins, and updated full-year guidance. Q1 earnings highlights provide critical financial metrics and forward guidance that significantly shape investor expectations and stock trajectory.

4 app.moby.co, 8:38 PM

ICF International (ICFI) released Q1 2026 earnings call summary detailing financial performance, revenue growth, and future guidance. Q1 2026 earnings summary reveals financial results and outlook that significantly influence ICFI's trajectory and market sentiment.

4 transcript www.fool.com, 6:08 PM

ICF International (ICFI) Q1 2026 earnings call transcript released, detailing quarterly financial results, operational updates, and forward guidance. Q1 2026 earnings results and management commentary provide critical insights into financial health and strategic direction, significantly influencing stock price and investor outlook.

4 Zacks, 5:25 PM

ICF International (ICFI) reported Q1 earnings of $1.84 per share, missing the $2.10 consensus estimate, and revenue of $512 million, below the $524.5 million forecast. Missing Q1 earnings and revenue estimates highlights financial underperformance likely to pressure stock price and investor sentiment significantly.