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ICF International, Inc.

ICFI Industrials Consulting Services

ICF International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, down 7.27% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 16.3%, free cash flow grew 103.5% and total debt fell 14.0%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.

89.43 0.66 +0.74%
Market cap
$1.6B
P/E
18.4×
Fwd P/E
11.7×
Dividend yield
0.63%
F-score
7/9
Altman Z
2.79
Beneish M
−2.63
Dividend safety
84/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.65
Total sells 1.74
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — — 1 — 1 — — — — —
Sell — — — — — — — — 1 1 1 —
Insider Ownership 2.22%

Capital & Financial Ratios $m

Market Cap 1,590.00
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 (at or below 0.5: strong)
P/E ratio 18.40
Fwd P/E 11.70
P/S ratio 0.88
P/B ratio 1.53
Past 5Y EPS Growth 11.52%
This Y EPS Growth 4.99%
Next Y EPS Growth 8.47%
Next Y revenue growth 1.66%
Next 5Y EPS Growth 6.60%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.1×, against a ten-year median of 1.2×; over the ten years it ranged from 0.8× in 2016 to 1.8× in 2024.
P/E against its own 10 years 26.32%
10-year low 10-year high
P/S against its own 10 years 37.41%
10-year low 10-year high
P/B against its own 10 years 17.29%
10-year low 10-year high
EV/Sales against its own 10 years 31.37%
10-year low 10-year high
EV/FCF against its own 10 years 2.65%
10-year low 10-year high

Dividends

Payout Ratio 0.12
Annual Dividend Rate 0.56
Annual Dividend Yield 0.63%
total individual payouts
2026 0.42
0.14
0.14
0.14
2025 0.56
0.14
0.14
0.14
0.14
2024 0.56
0.14
0.14
0.14
0.14
2023 0.56
0.14
0.14
0.14
0.14
2022 0.56
0.14
0.14
0.14
0.14
2021 0.56
0.14
0.14
0.14
0.14
2020 0.56
0.14
0.14
0.14
0.14
2019 0.56
0.14
0.14
0.14
0.14
2018 0.56
0.14
0.14
0.14
0.14
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 9 19 53 104
Receivables 208 263 256 258
Inventory — — — —
Other 202 189 187 196
447 492 514 579
2023 2024 2025 Q'26
Payables 135 160 124 84
ST’ Debt 26 — — —
Other 22 25 43 46
418 449 404 418

Compound Annual Growth %

10y 5y 3y
Sales 5.16% 4.44% 1.71%
Cash Flow 6.41% (3.91%) (4.37%)
Earnings 8.81% 10.75% 12.55%
Book Value 6.99% 6.61% 6.43%

Revenue $m

Mar Jun Sep Dec Year
’26 438 474 — — —
’25 488 476 465 444 1,873
’24 494 512 517 496 2,020
’23 483 500 502 478 1,963
’22 413 423 468 476 1,780
’21 378 393 394 388 1,553
’20 358 354 360 434 1,507
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 100 — — —
’25 (33) 52 47 76 142
’24 (10) 61 26 95 172
’23 (17) 37 26 107 152
’22 (7) 13 0 156 162
’21 5 1 58 45 110
’20 (15) 26 84 78 173
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) 94 — — —
’25 (36) 46 42 69 120
’24 (15) 55 20 89 150
’23 (23) 30 21 102 130
’22 (14) 9 (6) 148 138
’21 1 (2) 54 38 90
’20 (20) 22 80 73 155
Fiscal quarters ending in the months shown.

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
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 31.26 40.20 50.10 61.26 47.75 71.32 84.68 94.53 116.66 72.03

Analyst estimates 2026–2028

Powerpack
High 59.55 57.95 82.25 93.65 95.24 108.23 121.28 145.40 179.67 135.34
People
People Employees 5,000 5,500 6,000 7,000 7,500 7,700 9,000 9,000 9,300 8,400
Revenue/emp, $m 0.24 0.22 0.22 0.21 0.20 0.20 0.20 0.22 0.22 0.22
Income, $m
Income, $m Revenue 1,185 1,229 1,338 1,479 1,507 1,553 1,780 1,963 2,020 1,873
Gross margin, % 37.12 37.22 35.91 35.53 35.47 36.93 36.27 35.56 36.53 37.16
EBT 75 74 83 90 75 100 84 97 138 112
EBT margin, % 6.29 6.02 6.19 6.10 4.96 6.44 4.72 4.92 6.84 5.98
Net income 47 63 61 69 55 71 64 83 110 92
Depreciation 30 29 28 29 34 33 50 61 53 58
Per share, $
Per share, $ Revenue 62.41 65.50 71.18 78.58 79.98 82.31 94.59 104.42 107.74 101.71
Earnings 2.45 3.35 3.27 3.66 2.92 3.77 3.41 4.39 5.88 4.97
Cash flow 4.22 6.24 3.97 4.86 9.19 5.84 8.62 8.10 9.15 7.70
Capex (0.73) (0.77) (1.16) (1.43) (0.94) (1.06) (1.30) (1.19) (1.14) (1.18)
Free cash flow 3.49 5.47 2.81 3.43 8.25 4.78 7.32 6.92 8.01 6.53
Book value 29.81 32.83 35.13 37.98 39.65 42.58 45.34 48.80 52.41 55.85
Shares, m 19 19 19 19 19 19 19 19 19 18
Valuation, ×
Valuation, × P/E 22.12 16.01 19.87 25.03 25.46 27.20 29.45 30.68 20.27 17.13
P/S 0.87 0.82 0.91 1.17 0.93 1.25 1.06 1.29 1.11 0.84
P/B 1.82 1.64 1.84 2.41 1.87 2.41 2.22 2.76 2.27 1.53
EV/Sales 1.08 0.97 1.05 1.30 1.08 1.50 1.38 1.51 1.31 1.03
EV/FCF 19.35 11.62 26.61 29.67 10.50 25.88 17.78 22.81 17.67 16.08
Cash, $m
Cash, $m Operating cash flow 80 117 75 91 173 110 162 152 172 142
Capex (14) (15) (22) (27) (18) (20) (24) (22) (21) (22)
Free cash flow 66 103 53 65 155 90 138 130 150 120
Balance, $m
Balance, $m Working capital 107 107 114 96 49 73 51 29 43 110
Total debt 259 206 200 197 313 422 572 444 423 410
Net debt 253 183 189 191 231 401 559 435 404 357
Shareholders’ equity 566 616 660 715 747 803 853 918 982 1,028
Returns, %
Returns, % ROA 4.30 5.73 5.28 5.28 3.59 4.05 3.26 4.03 5.40 4.45
ROIC 6.32 6.44 6.79 7.00 5.69 5.76 4.81 6.11 7.47 6.56
ROE 8.55 10.64 9.62 10.03 7.52 9.18 7.76 9.33 11.60 9.11
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

ICF International, Inc. vs peers in Consulting Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BAH Booz Allen Hamilton Holding Corporation $9.0B 11.6× 13.4× −4.24% (below 0%: shrinking) −24.88% (below 0%: shrinking) +171.88% (above 0%: growing) 52.29% 9.96% Compare
FCN FTI Consulting, Inc. $4.0B 17.8× 17.5× +5.28% (above 0%: growing) −6.94% (below 0%: shrinking) +268.52% (above 0%: growing) 31.84% 8.56% Compare
HURN Huron Consulting Group Inc. $2.8B 25.6× 14.7× +15.37% (above 0%: growing) +72.32% (above 0%: growing) +51.61% (above 0%: growing) 32.51% 10.58% Compare
ICFI ICF International, Inc. $1.6B 18.4× 11.7× −0.35% (below 0%: shrinking) +16.28% (above 0%: growing) +103.49% (above 0%: growing) 37.23% 8.41%
CRAI Charles River Associates $1.1B 23.5× 17.6× +12.81% (above 0%: growing) +17.68% (above 0%: growing) −230.17% (below 0%: shrinking) 29.45% 11.17% Compare
SBC SBC Medical Group Holdings Incorporated $545.1M 11.0× 6.6× +13.44% (above 0%: growing) +400.00% (above 0%: growing) +396.07% (above 0%: growing) 73.14% 38.55% Compare
ROMA Roma Green Finance Limited $496.8M — — — — +20.80% (above 0%: growing) — — Compare
FORR Forrester Research, Inc. $227.2M — (loss-making) — (loss-making) −10.23% (below 0%: shrinking) +276.19% (above 0%: growing) −197.82% (below 0%: shrinking) 56.38% 3.39% Compare
LAWR Robot Consulting Co., Ltd. $172.4M — — — — −270.95% (below 0%: shrinking) — — Compare
Median of peers $827.5M 17.8× 14.7× +9.05% +45.00% +36.21% 42.40% 10.27%

All 23 Consulting Services stocks →

ICF International, Inc. (ICFI) key facts

  • Concern: ICF International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, down 7.27% from fiscal 2024.
  • Concern: Net income was $91.6 million, or $4.97 per share (basic), a net margin of 4.89%.
  • ICF International, Inc. (ICFI) is a Consulting Services company in the Industrials sector, listed on Nasdaq.
  • As of October 16, 2026, ICFI traded at $89.43, a market capitalization of $1.6 billion.
  • At that price the stock trades at 18.4× trailing-twelve-month earnings and 0.9× sales; its P/E is higher than 26% of its own readings over the past ten years.
  • ICF International, Inc. pays an annual dividend of $0.56 per share, a yield of 0.63%, with a payout ratio of 11.6%.
  • Return on equity was 9.11% and debt-to-equity 0.39.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.79 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

ICF International, Inc. (ICFI) Latest News

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stockrow.com/ICFI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com