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Icf International ( (ICFI) ) has shared an announcement.
ICF reported that in the fourth quarter and full year ended December 31, 2025, commercial, state and local, and international government revenues grew strongly, with commercial energy revenues up 23% in Q4 and 24% for the year, helping these markets reach 57% of annual revenues. This shift toward higher-margin commercial energy work, alongside effective cost management and a revenue mix dominated by fixed price and time-and-materials contracts, allowed the company to largely preserve margins despite a 7.3% full-year revenue decline.
Fourth-quarter 2025 revenue fell to $443.7 million and full-year revenue to $1.87 billion, as U.S. federal government revenue dropped 35.1% in Q4, reflecting contract funding curtailments, fewer RFPs and a 43-day government shutdown. Net income decreased to $17.3 million in Q4 and $91.6 million for the year, yet adjusted EBITDA margin held at 10.4% for the quarter and 11.1% for the year, supported by an expanding commercial energy portfolio, a $3.4 billion backlog, a 1.19 book-to-bill ratio and continued investment in AI-enabled and other growth services.
On February 26, 2026, ICF’s board declared a quarterly dividend of $0.14 per share, payable April 14, 2026, to shareholders of record on March 27, 2026. The board noted that future dividends will remain subject to its discretion and will depend on earnings, financial conditions, capital needs and other factors, underscoring a balanced approach to capital returns following a year in which the company also repurchased about 564,000 shares.
The most recent analyst rating on (ICFI) stock is a Buy with a $102.00 price target. To see the full list of analyst forecasts on Icf International stock, see the ICFI Stock Forecast page.
Spark’s Take on ICFI Stock
According to Spark, TipRanks’ AI Analyst, ICFI is a Outperform.
ICF International’s overall stock score reflects solid financial performance and positive earnings call highlights, particularly in non-federal revenue growth and commercial energy expansion. However, technical analysis indicates mixed signals, and valuation is fair but not compelling. The company’s ability to navigate federal revenue challenges and leverage its strong contract pipeline will be crucial for future performance.
To see Spark’s full report on ICFI stock, click here.
More about Icf International
ICF (NASDAQ: ICFI) is a global solutions and technology provider serving commercial, state and local, international, and U.S. federal government clients. The company has a strong presence in commercial energy markets, delivering utility-focused programs in energy efficiency, flexible load management, electrification and grid optimization, and also supports clients with IT modernization, strategic communications and environmental services.
Average Trading Volume: 144,771
Technical Sentiment Signal: Sell
Current Market Cap: $1.39B
For an in-depth examination of ICFI stock, go to TipRanks’ Overview page.