Icf International (ICFI) AI Stock Analysis

• Market Cap: $1.57B
• Dividend Yield: 0.66%
• Average Volume (3M): 193.66K
• Price to Earnings (P/E): 16.0
• Beta (1Y): 0.41
• Revenue Growth: -3.81%
• EPS Growth: -7.05%
• Country: US
• Employees: 9,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Consulting Services
• EPS (TTM): 1.67
• Shares Outstanding: 18,435,932
• 10 Day Avg. Volume: 140,483
• 30 Day Avg. Volume: 193,659
• PEG Ratio: 0.60
• Price to Book (P/B): 2.27
• Price to Sales (P/S): 1.11
• P/FCF Ratio: 14.89
• Enterprise Value/Market Cap: 1.46
• Enterprise Value/Revenue: 1.19
• Enterprise Value/Gross Profit: 3.20
• Enterprise Value/Ebitda: 10.98
• 1Y Price Target: $99.67
• Price Target Upside: 17.18% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 6.76
• Revenue Forecast (FY): $1.87B

• Rating: 74 Outperform
• Price Target: $95.00 ▲(11.69% Upside)

ICF International's overall stock score reflects strong financial performance and positive earnings call highlights, including growth in non-federal client revenue and commercial energy business. However, technical indicators suggest potential bearish momentum, and valuation metrics indicate a fair valuation with limited dividend yield.

Positive Factors

Cash Generation

Strong cash generation capabilities provide ICF International with the financial flexibility to invest in growth opportunities and manage debt effectively.

Commercial Energy Growth

The robust growth in commercial energy revenues indicates strong demand for ICFI's expertise in energy efficiency and grid resilience, supporting long-term revenue expansion.

Contract Awards and Pipeline

A strong pipeline and robust contract awards position ICFI for sustained growth, ensuring a steady flow of future projects and revenue.

Negative Factors

Federal Revenue Decline

The significant decline in federal revenues poses a challenge for ICFI, potentially impacting its overall revenue stability and growth prospects.

Government Shutdown Impact

The impact of government shutdowns on revenue highlights the vulnerability of ICFI's federal segment to political and fiscal disruptions.

Increased Tax Rate

A higher tax rate reduces net income and cash flow, potentially limiting ICFI's ability to reinvest in business operations and growth initiatives.

Icf International Business Overview & Revenue Model

Company Description

ICF International, Inc. provides management, marketing, technology, and policy consulting and implementation services to government and commercial clients in the United States and internationally. It researches critical policy, industry, stakeholder issues, trends, and behaviors; measures and evaluates results and their impact; and provides strategic planning and advisory services to its clients on how to navigate societal, market, business, communication, and technology challenges. The company also identifies, defines, and implements policies, plans, programs, and business tools through a range of standard and customized methodologies for its clients; conducts survey research; collects and analyzes various data to understand critical issues and options for its clients; and provides actionable business intelligence, as well as information and data management solutions that allow integrated and purpose-driven data usage. In addition, it provides solutions to optimize the customer and citizen experience; modernizes IT systems; and cyber security solutions that support the range of cyber security missions and protect IT infrastructures in the face of relentless threats, as well as designs, develops, and implements technology systems and business tools that are principal to its clients' mission or business performance. Further, the company informs and engages its clients' constituents, customers, and employees through public relations, branding and marketing, multichannel and strategic communications, and reputation issues management. It serves energy, environment, and infrastructure; health, education, and social programs; safety and security; and consumer and financial markets. The company was formerly known as ICF Consulting Group Holdings, LLC and changed its name to ICF International, Inc. in 2006. ICF International, Inc. was founded in 1969 and is headquartered in Fairfax, Virginia.

How the Company Makes Money

ICF International generates revenue primarily through its consulting and technology services. The company operates on a project-based revenue model, where it earns fees for delivering specific services to clients under contracts, often with government agencies and large corporations. Key revenue streams include performance-based contracts, time and materials contracts, and fixed-price contracts. ICFI also benefits from long-term relationships with clients, which can lead to recurring revenue opportunities. Additionally, the company engages in partnerships with other firms and organizations to enhance its service offerings, contributing to its earnings by expanding its market reach and capabilities.

Icf International Financial Statement Overview

Summary

ICF International demonstrates solid financial performance with strong cash flow generation and stable profitability. The company faces challenges with declining revenue and slightly increased leverage, but its effective use of equity and cash generation capabilities provide a strong foundation for future growth.

Income Statement

ICF International's income statement shows a solid gross profit margin of 28.15% for TTM, although it has decreased from the previous year. The net profit margin is stable at 5.13%, indicating consistent profitability. However, the company experienced a revenue decline of 2.61% in the TTM period, which is a concern. EBIT and EBITDA margins are healthy, but slightly lower than the previous year, suggesting some pressure on operational efficiency.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio of 0.61, which is manageable but slightly higher than the industry average. Return on equity is strong at 9.94%, indicating effective use of equity capital. The equity ratio stands at 48.47%, showing a balanced capital structure. Overall, the balance sheet is stable, but there is room for improvement in reducing leverage.

Cash Flow

Cash flow analysis reveals a positive free cash flow growth rate of 17.89% in the TTM period, indicating strong cash generation capabilities. The operating cash flow to net income ratio is 0.40, suggesting efficient conversion of income into cash. The free cash flow to net income ratio is robust at 87.24%, highlighting the company's ability to generate cash relative to its net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.93B	2.02B	1.96B	1.78B	1.55B	1.51B
Gross Profit	716.88M	737.77M	698.22M	645.54M	573.48M	534.47M
EBITDA	208.79M	221.12M	196.97M	157.18M	142.04M	122.04M
Net Income	98.84M	110.17M	82.61M	64.24M	71.13M	54.96M
Balance Sheet
Total Assets	2.11B	2.07B	2.01B	2.09B	1.85B	1.67B
Cash, Cash Equivalents and Short-Term Investments	3.99M	4.96M	9.45M	11.26M	8.25M	13.84M
Total Debt	623.95M	602.27M	642.67M	776.39M	648.31M	475.53M
Total Liabilities	1.09B	1.08B	1.09B	1.24B	1.05B	920.33M
Stockholders Equity	1.02B	982.46M	917.59M	853.21M	803.47M	746.96M
Cash Flow
Free Cash Flow	140.99M	150.11M	130.05M	137.73M	90.27M	155.46M
Operating Cash Flow	161.60M	171.54M	152.38M	162.21M	110.20M	173.15M
Investing Cash Flow	-75.57M	-74.81M	-3.67M	-258.84M	-194.48M	-270.95M
Financing Cash Flow	-40.53M	-86.90M	-152.59M	90.37M	23.23M	169.96M

Icf International Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 85.06
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICFI, the sentiment is Neutral. The current price of 85.06 is above the 20-day moving average (MA) of 79.46, above the 50-day MA of 84.79, and below the 200-day MA of 87.31, indicating a neutral trend. The MACD of -0.42 indicates Negative momentum. The RSI at 59.99 is Neutral, neither overbought nor oversold. The STOCH value of 89.02 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ICFI.

Icf International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRAI	81 Outperform	$1.24B	22.76	27.83%	1.08%	8.69%	34.58%
FCN	77 Outperform	$5.17B	21.28	13.30%	―	-0.95%	-10.54%
HURN	75 Outperform	$2.95B	28.63	21.20%	―	12.50%	29.40%
ICFI	74 Outperform	$1.57B	16.03	9.88%	0.66%	-3.81%	-7.05%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
RGP	51 Neutral	$151.93M	-0.80	-61.44%	7.20%	-10.83%	-1669.11%
FORR	42 Neutral	$143.50M	―	-43.39%	―	-8.73%	-1168.15%

Icf International Corporate Events

ICF International to Join Sidoti Investor Conference

ICF International announced its participation in the Sidoti Year End Virtual Investor Conference, where its COO James Morgan and CFO Barry Broadus will engage in a virtual fireside chat on December 10, 2025. This participation underscores ICF’s ongoing commitment to engaging with investors and stakeholders, potentially enhancing its market visibility and industry positioning.

ICF International Announces Leadership Changes Amid Growth

ICF International reported its third quarter 2025 results, highlighting a 14% increase in revenues from commercial, state, local, and international government clients, which now account for 57% of total revenues. The company experienced robust growth in commercial energy client revenues, driven by strong demand for its energy efficiency programs. Despite a decline in U.S. federal government revenue, ICF maintained its margin expansion through effective cost management and a favorable business mix. The company announced executive leadership changes to support future growth, with James Morgan taking on the additional role of CFO and Anne Choate becoming president. ICF’s business development pipeline remains strong, with significant contract awards and a total backlog of $3.5 billion, positioning the company for a return to growth in 2026.

ICF International Announces Executive Leadership Changes

ICF International announced significant executive leadership changes effective January 1, 2026. Anne Choate will be appointed as President, succeeding John Wasson, and will focus on maximizing growth opportunities and expanding the use of technology and AI. James Morgan will assume the combined role of Chief Operating and Financial Officer, following Barry Broadus’s planned retirement as CFO. These changes are aimed at supporting ICF’s future growth and enhancing its operational excellence.