ICF International, Inc. (ICFI)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$1.8B

Revenue growth

-7.9%

Net income, last twelve months

$88.5M

Earnings per share

$4.83

Gross margin

37.2%

Operating margin

7.8%

Net margin

4.9%

Free cash flow

$198.5M

Return on equity

8.4%

Market value

$1.7B

Price to earnings

19.6x

Dividend yield

0.6%

Cash

$4.6M

Debt

$406.2M

Debt to equity

0.39

Shares outstanding

17.9M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the third quarter 2026 results, filed 24 September 2026.

• Third-quarter results date set. The company said it will release third quarter 2026 results on Thursday, November 5, 2026, after the market close.
• Results posted before the call. Earnings results will be posted to the company's investor site before the call.
• Webcast set for 4:30 p.m.. The company plans a webcast call at 4:30 p.m. Eastern time on November 5, 2026, to discuss the quarter's financial results.
• Analyst dial-in by registration. Analysts and institutional investors register online to receive dial-in details and a PIN. General listeners can use the live webcast link.
• Replay available for one year. A webcast replay will be available for one year after the live event at the company's news and events page.
• Notice covers timing only. The 8-K is titled as a timing announcement for the third quarter 2026 release and call, and includes no financial figures.
• Investor and company contacts listed. Investor enquiries go to AdvisIRy Partners; company enquiries go to Lauren Dyke at ICF.

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2025

By region, FY2025

Company events

The newest 8-K filings of 332 held.

Every filing

The newest filings with the SEC of 514 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

288 funds held it at 30 Jun 2026: 132 added and 58 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Booz Allen Hamilton Holding Corp. (BAH): revenue $11.0B, market value $9.9B
• Genpact Ltd. (G): revenue $5.3B, market value $6.5B
• FTI Consulting, Inc. (FCN): revenue $3.9B, market value $4.4B
• Exponent Inc. (EXPO): revenue $632.5M, market value $3.7B
• Huron Consulting Group Inc. (HURN): revenue $1.8B, market value $3.1B
• Astrana Health, Inc. (ASTH): revenue $3.8B, market value $2.0B

What the company does

ICF International, Inc. provides professional services and technology-based solutions, including management, technology, and policy consulting and implementation services. Its clients are U.S. federal agencies, state and local governments, international governments, and commercial organizations. The company's principal operating subsidiary was founded in 1969, and the company completed its initial public offering in September 2006. It has about 8,400 employees, and its principal executive office is in Reston, Virginia. It reports its results as one operating and reportable segment.

What it sells

The company describes five service areas: Advisory Services, Program Implementation, Analytics Services, Digital Services, and Engagement Services. Advisory Services cover strategic insight for decision-makers. Program Implementation covers policies, programs, and tools. Analytics Services use advanced analytics and artificial intelligence. Digital Services cover technology solutions, IT modernisation, and cybersecurity. Engagement Services cover communications, branding, and digital experiences. The company says it aims to serve clients across the whole life cycle of a policy, program, project, or initiative, and it uses advisory work to win longer program engagements. In 2025 it introduced a proprietary AI platform called ICF Fathom.

Markets it serves

- Energy, Environment, Infrastructure, and Disaster Recovery: 52% - - Security and Other Civilian & Commercial: 15%

The first market includes utility energy programs, environmental and transportation planning, and disaster recovery and mitigation work. The company has more than 25 years of disaster recovery experience, including after Hurricanes Katrina, Rita, Harvey, Irma, Maria, Helene, and Milton, and Superstorm Sandy. The second market covers public health, healthcare quality, education, child and family welfare, housing, and substance abuse prevention. The third covers cybersecurity, resilience planning, and technology modernisation. The company does not manage its business or allocate resources by market. For each project it assembles a team from across the company.

Who buys from it

By client type in 2025, the U.S. federal government accounted for 43% of revenue, U.S. state and local government for 17%, international government for 7%, and commercial clients for 33%. The largest single client is the Department of Health and Human Services, at 22% of revenue. No other client exceeds 5%. Commercial clients include airlines, airports, electric and gas utilities, health care companies, banks, non-profits, and manufacturers. Its energy work grew through the purchase of Applied Energy Group on 31 December 2024, which the company describes as having over 100 utility management and demand side energy experts.

How its contracts work

About 86% of revenue comes from prime contracts, where the company works directly for the end customer. Contract periods typically run from one month to five years, including option periods. Government clients generally have the right to cancel contracts at any time. Payments on cost-based federal contracts are provisional and subject to adjustment on audit.

Where it works and who it competes with

The company serves clients from its Washington, D.C. area headquarters, 49 regional offices across the U.S., and 14 offices outside the U.S., including in the United Kingdom, Belgium, Spain, India, and Canada. It has worked in dozens of countries. Its international government clients include the U.K. government and the European Commission.

The filing describes the market as highly competitive and fragmented. Named competitors include Accenture, AECOM Technology Corporation, Booz Allen Hamilton Holding Corporation, Deloitte LLP, Guidehouse, Leidos Holdings, Inc., Tetra Tech Inc., and Westat, Inc. The company lists these as its main competitive advantages:

- long-standing client relationships - past performance - client references - the knowledge of its staff - the quality of its services - the scope and scale of its offerings

Its people

About 83% of employees work full-time. Approximately 42% of benefits-eligible staff hold post-graduate degrees, in fields from economics and engineering to law and life sciences. The management team has 279 senior leaders with the title of vice president or higher, and their average tenure was approximately 18 years, including service at acquired companies. Turnover in 2025 was 12.9% overall and 9.4% excluding on-call team members. The company says this is below industry benchmarks. Employees take part in an annual performance appraisal program called Impact Conversations.

*From ICF International's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1362004/000119312526082536/icfi-20251231.htm)*

From the company's 10-K.