Icf International (ICFI) AI Stock Analysis

• Market Cap: $1.82B
• Dividend Yield: 0.57%
• Average Volume (3M): 194.44K
• Price to Earnings (P/E): 17.2
• Beta (1Y): 0.44
• Revenue Growth: -0.47%
• EPS Growth: 10.03%
• Country: US
• Employees: 9,000
• Sector: Industrials
• Sector Strength: 76
• Industry: Consulting Services
• EPS (TTM): 1.66
• Shares Outstanding: 18,428,490
• 10 Day Avg. Volume: 192,247
• 30 Day Avg. Volume: 194,441
• 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: 1.20
• Enterprise Value/Revenue: 1.10
• Enterprise Value/Gross Profit: 2.97
• Enterprise Value/Ebitda: 10.18
• 1Y Price Target: $101.00
• Price Target Upside: 1.15% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 70 Outperform
• Price Target: $108.00 ▲(8.16% Upside)

ICF International's overall stock score reflects stable financial performance and positive momentum in the commercial energy sector. The stock's valuation is reasonable, and the company's optimistic guidance supports future growth prospects. However, concerns about declines in federal revenues and potential overbought technical indicators moderate the score.

Positive Factors

Commercial Energy Performance

The company's commercial energy markets business continued to be a standout performer, with revenue increasing due to strong demand from utility clients for energy efficiency programs and expertise in flexible load management, electrification, and grid optimization.

Earnings Performance

Non-GAAP EPS increased 10% year-over-year to $1.94, outperforming the estimate of $1.70 and the consensus of $1.73, benefiting from a one-time tax benefit.

Federal Contract Opportunities

The federal business appears to be bottoming with only $2 million in federal contracts canceled in the quarter, compared to $115 million in the first quarter.

Negative Factors

Federal Budget Cuts

A fiscal budget proposal outlines significant discretionary spending cuts to federal environmental, education, renewable energy, and foreign aid programs, exemplifying the rapidly changing nature of the environment ICF must navigate.

Federal Market Risks

Even with positive federal developments, there remains some risk heading into the seasonally important third quarter when many federal contracts are typically awarded.

Federal Revenue Decline

Federal government client market, which constitutes 49% of revenue, experienced a revenue decline of -12.6% year-over-year, impacted by contract funding curtailments and fewer new contract opportunities.

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 consulting contracts and project-based work. The company earns money by providing services that include program management, policy analysis, and technical assistance to clients across various sectors. Key revenue streams include federal government contracts, where ICFI partners with agencies on projects related to energy efficiency, climate change, and public health initiatives. Additionally, ICFI generates income from its commercial clients in industries such as transportation, health, and environmental services. The company also benefits from strategic partnerships with other firms and organizations, which can enhance its service offerings and expand its market reach. Overall, ICFI's diversified service portfolio and established reputation in consulting enable it to maintain a steady flow of revenue.

Icf International Financial Statement Overview

Summary

ICF International exhibits strong revenue growth and profitability with stable net profit margins and a healthy balance sheet. However, cash flow growth shows inconsistency, indicating room for improvement.

Income Statement

ICF International has demonstrated a strong revenue growth over the years, with revenue increasing from $1.50 billion in 2020 to $2.01 billion in TTM 2025. The gross profit margin has also shown improvement, reaching 51.1% in TTM, indicating effective cost management. The net profit margin is stable at around 5.4%, reflecting consistent profitability. However, the EBIT margin has seen fluctuations but remains healthy at 8.1% in TTM. The EBITDA margin is also stable at 10.4%, showcasing solid operational performance.

Balance Sheet

The company's balance sheet highlights a moderate debt-to-equity ratio of 0.71 in TTM, which suggests a balanced leverage position. The return on equity (ROE) is strong at 11.3%, indicating efficient use of equity to generate profits. However, the equity ratio is at 46.7%, pointing to a moderate level of equity financing relative to assets. Overall, the balance sheet is stable with manageable debt levels.

Cash Flow

ICF International has shown a positive trend in its free cash flow, although the growth rate has been inconsistent. The operating cash flow to net income ratio of 1.35 in TTM indicates robust cash generation relative to net income. However, the free cash flow to net income ratio has decreased slightly, reflecting increased capital expenditure needs. Despite these fluctuations, the company's cash flow position remains solid with consistent generation of free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.98B	2.02B	1.96B	1.78B	1.55B	1.51B
Gross Profit	733.98M	737.77M	698.22M	645.54M	573.48M	534.47M
EBITDA	214.25M	221.12M	196.97M	157.18M	150.81M	122.04M
Net Income	107.75M	110.17M	82.61M	64.24M	71.13M	54.96M
Balance Sheet
Total Assets	2.07B	2.07B	2.01B	2.09B	1.85B	1.67B
Cash, Cash Equivalents and Short-Term Investments	26.89M	4.96M	9.45M	11.26M	8.25M	13.84M
Total Debt	644.24M	602.27M	642.67M	776.39M	648.31M	452.18M
Total Liabilities	1.07B	1.08B	1.09B	1.24B	1.05B	920.33M
Stockholders Equity	1.00B	982.46M	917.59M	853.21M	803.47M	746.96M
Cash Flow
Free Cash Flow	119.59M	150.11M	130.05M	137.73M	90.27M	155.46M
Operating Cash Flow	139.83M	171.54M	152.38M	162.21M	110.20M	173.15M
Investing Cash Flow	-74.93M	-74.81M	-3.67M	-258.84M	-194.48M	-270.95M
Financing Cash Flow	-43.93M	-86.90M	-152.59M	90.37M	23.23M	169.96M

Icf International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 99.85
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICFI, the sentiment is Positive. The current price of 99.85 is above the 20-day moving average (MA) of 95.39, above the 50-day MA of 89.50, and below the 200-day MA of 101.07, indicating a neutral trend. The MACD of 3.21 indicates Negative momentum. The RSI at 68.97 is Neutral, neither overbought nor oversold. The STOCH value of 51.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ICFI.

Icf International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CRAI	78 Outperform	$1.29B	23.69	29.05%	1.00%	9.28%	44.19%
FCN	75 Outperform	$5.37B	23.33	12.33%	―	-0.89%	-23.72%
HURN	72 Outperform	$2.36B	23.85	21.55%	―	8.99%	35.56%
ICFI	70 Outperform	$1.82B	17.16	11.09%	0.57%	-0.47%	10.03%
Sector *	64 Neutral	$10.95B	16.37	8.81%	1.96%	2.68%	-15.33%
RGP	50 Neutral	$161.70M	―	-61.29%	9.70%	-12.87%	-1025.47%
FORR	48 Neutral	$186.44M	―	-44.74%	―	-9.11%	-6082.17%

Icf International Corporate Events

ICF International to Attend Canaccord Genuity Conference

ICF International announced its participation in the Canaccord Genuity 45th Annual Growth Conference on August 13, 2025, in Boston. The company’s CEO, John Wasson, and EVP, Anne Choate, will engage in a fireside chat, which will be accessible via a live webcast, highlighting ICF’s ongoing engagement with industry stakeholders.

ICF International Declares Quarterly Dividend Amid Revenue Growth

On July 31, 2025, ICF International’s Board of Directors declared a quarterly dividend of $0.14 per share, payable on October 10, 2025. The company’s second quarter results for 2025 showed a 27% revenue growth in commercial energy, with total revenue reaching $476 million. Despite a decline in federal government revenue, ICF maintained strong performance in non-federal sectors, leading to a robust contract award total of $621 million. The company continues to invest in growth markets and expand capabilities in AI and other technologies, with a positive outlook for future revenue and earnings growth.

ICF International Holds Annual Stockholders Meeting

On June 4, 2025, ICF International, Inc. held its Annual Meeting of Stockholders, where key decisions were made regarding the company’s leadership and financial oversight. The stockholders elected three directors for terms expiring in 2028, approved executive compensation, and appointed Grant Thornton LLP as the independent registered public accountant for the fiscal year 2025. These decisions are expected to influence the company’s governance and financial strategies moving forward.