ICF International, Inc.

ICF International, Inc.

ICFIยทNASDAQ

$69.65

-1.9%
IndustrialsConsulting Services

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.

At a Glance

Live Snapshot
Market Cap$1.26B
EPS4.9800
P/E Ratio17.06
Earnings Date07/30/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is mid-range (P/E 17.1).

Valuation inputs: P/E 17.1, earnings yield +5.9%, momentum -1.9%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is acceptable (ROE +8.9%, ROIC +7.4%).

Profitability stack: net margin +4.9%, ROE +8.9%, ROIC +7.4%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Risk profile is balanced but has notable pressure points to monitor.

Risk factors: liabilities/assets +49.8%, momentum -1.9%, net margin +4.9%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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ICF International, Inc. Market vs Earnings Trajectory

ICFI ยท NASDAQ

Loading price and EPS data...

ICF International, Inc.

ICF International, Inc. Fair Value Envelope

ICFI ยท NASDAQ

Our analysis suggests that ICFI has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $69.65, this represents a potential HIDDEN relative to our calculated worth for ICF International, Inc..

Intrinsic Value
Current Price: $69.65
3Y+46.0%
5Y+71.0%
10Y+103.0%
3Y+5.0%
5Y+24.0%
10Y+58.0%
3Y+43.0%
5Y+67.0%
10Y+97.0%
3Y-13.0%
5Y-18.0%
10Y+78.0%
3Y-13.0%
5Y-23.0%
10Y+83.0%
3Y-2.0%
5Y+23.0%
10Y+89.0%
ICF International, Inc.

ICF International, Inc. Profit Bridge

ICFI ยท NASDAQ
Revenue1.87B
Cost of Goods Sold (1.23B)
Gross Profit637.87M
Operating Expenses (486.19M)
Operating Income151.68M
Interest Expense (8.42M)
Other Income/Expense-39.69M
Pretax Income111.99M
Income Tax (20.41M)
Net Income91.59M
Net Income
91.59M

Profitability Analysis

Gross Margin

34.1%

Moderate margins typical of competitive industries. Monitor for pricing pressure or rising costs.

Operating Margin

8.1%

Acceptable margins but limited operational leverage. Operating expense control is important.

Net Profit Margin

4.9%

Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.

Effective Tax Rate

18.2%

Moderate tax rate typical for most corporations. Represents standard tax burden on profits.

Profitability Insight

Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.

34.06%
Gross Profit Margin
-7%
3Y-6.0%
5Y-4.0%
10Y-8.0%
8.10%
Operating Profit Margin
-1%
3Y+33.0%
5Y+37.0%
10Y+16.0%
4.89%
Net Profit Margin
-10%
3Y+36.0%
5Y+34.0%
10Y+24.0%
8.91%
Return on Equity
-21%
3Y+18.0%
5Y+21.0%
10Y+8.0%
4.47%
Return on Assets
-16%
3Y+45.0%
5Y+36.0%
10Y+4.0%
7.44%
Return on Invested Capital
-8%
3Y+54.0%
5Y+47.0%
10Y+28.0%
ICFI

ICF International, Inc. Cash Conversion Engine

ICFI ยท NASDAQ
Net Income91.59M
Depreciation & Amortization58.15M
Stock-Based Compensation17.69M
Change in Working Capital-32.52M
Others6.97M
Capital Expenditures-21.66M
Free Cash Flow120.21M

Cash Flow Quality Analysis

FCF Conversion Rate

131.3%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

15.3%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

-19.9%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$32.52M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

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ICF International, Inc. Funding & Solvency Profile

ICFI ยท NASDAQ
Cash & Cash Equivalents3.88M
Net Receivables240.00M
Inventory0.00
Other Current Assets280.56M
Total Current Assets524 M
Property, Plant & Equipment158.24M
Goodwill & Intangible Assets1.33B
Long-Term Investments0.00
Other Non-Current Assets45.22M
Total Non-Current Assets203 M
Total Assets
2.05B

Financial Health Analysis

Current Ratio

1.48x

Acceptable liquidity, but monitor closely. Current assets just barely cover current liabilities.

Debt-to-Equity Ratio

0.99x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

169 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

26% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

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ICF International, Inc. Street Expectations Map

ICFI ยท NASDAQ

Wall Street analysts project that ICFI stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 90.00, with estimates ranging from a low of 90.00 to a high of 90.00.

Lowest Target
90.00
29.22%
Consensus Target
90.00
29.22%
Highest Target
90.00
29.22%

The consensus 1-year price target stands at 90.00, with estimates ranging from a low of 90.00 to a high of 90.00.

Analyst Consensus Analysis

Upside Potential

+29.2%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

0.0% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Analyst Conviction

Very High

Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.

Market Sentiment Insight

Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.

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ICF International, Inc. Insider Positioning

ICFI ยท NASDAQ

During the last 12 months, insiders have purchased $474K and sold $238K worth of ICFI shares, resulting in $236K of net buying activity.

3 Months

Bought

5.1K

326.53K

Sold

0

0.00

Net Activity

+327K

+$327K

3-6 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

6-9 Months

Bought

654

50.51K

Sold

2.5K

237.97K

Net Activity

-187K

-$187K

9-12 Months

Bought

1.2K

96.70K

Sold

0

0.00

Net Activity

+97K

+$97K

Top Buyers

1
VHMJ

Van Handel Michael J

Director

4.0K sharesโ€ข1 transactions

$245K

2
MR

Mehl Randall

Director

2.8K sharesโ€ข4 transactions

$216K

3
WJ

Wasson John

Director, Officer: Ceo & President

158 sharesโ€ข1 transactions

$13K

Top Sellers

1
MJCM

Morgan James C M

Officer: Chief Operating Officer

2.5K sharesโ€ข2 transactions

$238K

Insider Activity Analysis

Net Insider Sentiment

Bullish

Moderately bullish with $236K net buying. Insiders show cautious optimism through measured share purchases.

Buy/Sell Ratio

1.99:1

Positive buy/sell ratio. Buying exceeds or matches selling, indicating net positive insider sentiment.

Recent Trend (3 Months)

$327K

Very strong recent buying momentum. Recent insider purchases significantly outpace sales, suggesting near-term optimism.

Insider Participation

High Buying

3 insider buyers vs. 1 sellers. Broad-based buying across management team suggests widespread confidence.

Insider Activity Insight

Broad-based insider buying: When multiple insiders independently decide to purchase shares, it often reflects genuine confidence rather than coordinated optics. This pattern deserves attention, especially if buying followed a price decline.

0.21%
Dividend Yield
30%
3Y+67.0%
5Y+34.0%
10Y-
ย 

icfi Dividend History

ICFI
10Y CAGR +0%
Latest $0.14
Annual $0.7
Stable dividend payments
Last Period: +0%