ICF International, Inc. (ICFI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.65	$1.86	+12.7%	—	$474.5M	—
Q1 26	$1.55	$1.5	-3.2%	—	$437.5M	—
Q4 25	$1.49	$1.47	-1.3%	—	$443.7M	—
Q3 25	$1.73	$1.67	-3.5%	—	$465.4M	—
Q2 25	$1.58	$1.66	+5.1%	—	$476.2M	—
Q1 25	$1.73	$1.94	+12.1%	—	$487.6M	—
Q4 24	$1.86	$1.87	+0.5%	—	$496.3M	—
Q3 24	$1.77	$2.13	+20.3%	—	$517M	—
Q2 24	$1.49	$1.69	+13.4%	—	$512M	—
Q1 24	$1.45	$1.77	+22.1%	—	$494.4M	—
Q4 23	$1.63	$1.68	+3.1%	—	$478.4M	—
Q3 23	$1.62	$1.81	+11.7%	—	$501.5M	—
Q2 23	$1.45	$1.57	+8.3%	—	$500.1M	—
Q1 23	$1.4	$1.42	+1.4%	—	$483.3M	—
Q4 22	$1.52	$1.56	+2.6%	—	$475.6M	—
Q3 22	$1.45	$1.61	+11.0%	—	$467.8M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.97	—	—	$1.9B	—
FY24	—	$5.88	—	—	$2B	—
FY23	—	$4.39	—	—	$2B	—
FY22	—	$3.41	—	—	$1.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.2B	$1.2B	$1.3B	$1.5B	$1.5B	$1.6B	$1.8B	$2B	$2B	$1.9B
YoY change	+4.67%	+3.72%	+8.85%	+10.5%	+1.92%	+3.06%	+14.6%	+10.3%	+2.88%	-7.27%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.2B	1.2B	1.3B	1.5B	1.5B	1.6B	1.8B	2B	2B	1.9B
Cost of revenue	745.1M	771.7M	857.5M	953.2M	972.4M	979.6M	1.1B	1.3B	1.3B	1.2B
Gross profit	440M	457.4M	480.5M	525.3M	534.5M	573.5M	645.5M	698.2M	737.8M	696M
Gross margin	37.1%	37.2%	35.9%	35.5%	35.5%	36.9%	36.3%	35.6%	36.5%	37.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	328M	346.4M	361M	395.8M	411.6M	430.6M	486.9M	505.2M	518.5M	492.4M
Operating expenses	328M	346.4M	361M	395.8M	411.6M	430.6M	486.9M	505.2M	518.5M	492.4M
Operating income	82.8M	82.4M	92.3M	101.4M	89.1M	110.9M	108.8M	132.3M	165.8M	145.5M
Operating margin	6.99%	6.71%	6.9%	6.86%	5.91%	7.14%	6.11%	6.74%	8.21%	7.77%
Non-operating income, net	1.2M	121K	-735K	-501K	-724K	-862K	-1.5M	3.9M	1.8M	-2.6M
Pretax income	74.5M	74M	82.8M	90.2M	74.7M	100.1M	84M	96.5M	138.1M	112M
Income tax	27.9M	11.1M	21.4M	21.2M	19.7M	29M	19.7M	13.9M	27.9M	20.4M
Net income	46.6M	62.9M	61.4M	68.9M	55M	71.1M	64.2M	82.6M	110.2M	91.6M
Net margin	3.93%	5.12%	4.59%	4.66%	3.65%	4.58%	3.61%	4.21%	5.45%	4.89%
EBITDA	113.1M	111.1M	118.7M	129.1M	122.1M	142M	157.2M	197M	221.1M	201M
EPS	2.45	3.35	3.27	3.66	2.92	3.77	3.41	4.39	5.88	4.97
Diluted EPS	2.4	3.27	3.18	3.59	2.87	3.72	3.38	4.35	5.82	4.95

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	501.5M	478.4M	494.4M	512M	517M	496.3M	487.6M	476.2M	465.4M	443.7M	437.5M	474.5M
Cost of revenue	323.5M	303.5M	310.5M	329.3M	325M	317.1M	302.5M	298.4M	290.5M	285.3M	270.6M	297.9M
Gross profit	178M	174.8M	183.9M	182.7M	192M	179.2M	185.1M	177.7M	174.9M	158.3M	166.9M	176.6M
Gross margin	35.5%	36.5%	37.2%	35.7%	37.1%	36.1%	38%	37.3%	37.6%	35.7%	38.1%	37.2%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	131.6M	123.4M	129.1M	127.1M	132.8M	129.5M	131.9M	123M	122.3M	115.2M	118.8M	123.3M
Operating expenses	131.6M	123.4M	129.1M	127.1M	132.8M	129.5M	131.9M	123M	122.3M	115.2M	118.8M	123.3M
Operating income	31.9M	36.9M	40.9M	42.4M	46M	36.5M	38.4M	40M	38.4M	28.6M	34.9M	39.9M
Operating margin	6.36%	7.72%	8.28%	8.28%	8.9%	7.35%	7.87%	8.4%	8.26%	6.45%	7.97%	8.41%
Non-operating income, net	2.7M	2.4M	1.6M	36K	-899K	1M	-1.1M	-1.6M	176K	-124K	-757K	-342K
Pretax income	24.1M	29.8M	34.3M	34.7M	37.9M	31.1M	30M	29.9M	30.7M	21.3M	27.4M	32.8M
Income tax	340K	7.6M	7M	9.1M	5.3M	6.5M	3.1M	6.3M	7M	4M	6.9M	5.8M
Net income	23.7M	22.2M	27.3M	25.6M	32.7M	24.6M	26.9M	23.7M	23.8M	17.3M	20.5M	26.9M
Net margin	4.73%	4.63%	5.52%	5%	6.32%	4.95%	5.51%	4.97%	5.11%	3.9%	4.69%	5.68%
EBITDA	49.2M	53.9M	56.4M	55.6M	58.2M	50.8M	52.1M	53.1M	52.8M	43M	47.3M	53M
EPS	1.26	1.18	1.46	1.37	1.74	1.31	1.45	1.29	1.29	0.95	1.12	1.5
Diluted EPS	1.25	1.16	1.44	1.36	1.73	1.3	1.44	1.28	1.28	0.94	1.12	1.49

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	1B	985.2M	1.2B	1.7B	1.4B	1.9B	1.9B	2.5B	2.2B	1.6B	1.5B
Enterprise value	1.3B	1.2B	1.4B	2B	1.8B	2.6B	2.6B	3.2B	2.8B	2.1B	2.1B
Shares outstanding	19M	18.8M	18.8M	18.8M	18.8M	18.9M	18.8M	18.8M	18.7M	18.4M	18.4M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.5	15.7	19.8	25	25.5	27.2	29	30.5	20.3	17.1	17.3
P/S	0.88	0.8	0.91	1.17	0.93	1.25	1.05	1.28	1.11	0.84	0.82
P/B	1.85	1.6	1.84	2.41	1.87	2.41	2.18	2.75	2.27	1.53	1.43
EV/EBITDA	11.5	10.6	11.8	15.8	15.1	18.1	16.7	16	12.8	10.6	10.4
EV/Sales	1.1	0.96	1.05	1.38	1.22	1.66	1.48	1.61	1.4	1.14	1.13
Earnings yield	4.44%	6.38%	5.04%	4%	3.92%	3.68%	3.45%	3.28%	4.93%	5.83%	5.79%
FCF yield	6.32%	10.4%	4.34%	3.74%	11.1%	4.67%	7.39%	5.16%	6.72%	7.65%	5.56%
PEG	—	—	—	—	—	—	—	—	—	—	1.06

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	37.1%	37.2%	35.9%	35.5%	35.5%	36.9%	36.3%	35.6%	36.5%	37.2%	37.2%
Operating margin	6.99%	6.71%	6.9%	6.86%	5.91%	7.14%	6.11%	6.74%	8.21%	7.77%	8.41%
Net margin	3.93%	5.12%	4.59%	4.66%	3.65%	4.58%	3.61%	4.21%	5.45%	4.89%	4.86%
ROE	8.23%	10.2%	9.3%	9.65%	7.36%	8.85%	7.53%	9%	11.2%	8.91%	8.64%
ROA	4.29%	5.66%	5.06%	4.94%	3.3%	3.85%	3.07%	4.11%	5.33%	4.47%	4.25%
ROIC	6.32%	8.64%	8.06%	7.57%	5.53%	5.46%	5.14%	7.29%	8.38%	7.46%	6.95%
Return on tangible assets	-12.5%	-18.9%	-21.3%	-72.2%	-20.2%	-17.6%	-11%	-13.4%	-18.1%	-14.8%	-16.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.55	1.48	1.41	1.28	1.11	1.19	1.12	1.07	1.1	1.27	1.39
Quick ratio	1.55	1.48	1.41	1.28	1.11	1.19	1.12	1.07	1.1	1.27	1.39
Debt / equity	0.46	0.33	0.3	0.44	0.61	0.81	0.91	0.7	0.61	0.56	0.54
Debt / assets	0.24	0.19	0.17	0.23	0.27	0.35	0.37	0.32	0.29	0.28	0.27
Net debt / EBITDA	2.24	1.75	1.59	2.4	3.59	4.51	4.87	3.23	2.7	2.82	2.86
Interest coverage	8.87	9.65	10.5	9.41	6.45	11	4.61	3.43	5.67	4.63	4.93
Effective tax rate	37.5%	15%	25.9%	23.5%	26.4%	28.9%	23.5%	14.4%	20.2%	18.2%	21.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	62.4	65.5	71.2	78.6	80	82.3	94.6	104.4	107.7	101.7	99.8
EPS (basic)	2.45	3.35	3.27	3.66	2.92	3.77	3.41	4.39	5.88	4.97	4.97
EPS (diluted)	2.4	3.27	3.18	3.59	2.87	3.72	3.38	4.35	5.82	4.95	4.84
Book value per share	29.8	32.8	35.1	38	39.6	42.6	45.3	48.8	52.4	55.9	58.5
FCF per share	3.49	5.47	2.81	3.43	8.25	4.78	7.32	6.92	8.01	6.53	11
Cash per share	0.32	0.63	0.62	0.34	0.73	0.44	0.6	0.34	0.26	0.29	0.28
Capex per share	—	—	—	—	—	—	—	—	1.14	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	1.06%	—	—
Capex / operating cash flow	—	—	—	—	—	—	—	—	15.6%	—	—
Payout ratio	0%	0%	12.9%	15.3%	19.2%	14.9%	16.4%	12.8%	9.54%	11.3%	11.6%
Dividend yield	0%	0%	0.65%	0.61%	0.75%	0.55%	0.57%	0.42%	0.47%	0.66%	0.67%

Yield

0.67%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.14

ex-dividend Sep 4, 2026

Payout ratio

12%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 4, 2026	$0.14
Jun 5, 2026	$0.14
Mar 27, 2026	$0.14
Dec 5, 2025	$0.14
Sep 5, 2025	$0.14
Jun 6, 2025	$0.14
Mar 28, 2025	$0.14
Dec 6, 2024	$0.14

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$501.5M	$478.4M	$494.4M	$512M	$517M	$496.3M	$487.6M	$476.2M	$465.4M	$443.7M	$437.5M	$474.5M
YoY change	+7.21%	+0.58%	+2.31%	+2.39%	+3.09%	+3.76%	-1.38%	-7.01%	-9.98%	-10.6%	-10.3%	-0.35%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	6M	11.8M	11.7M	6.5M	13.8M	8.3M	11.3M	6.4M	5M	5.3M
Receivables	281.4M	168.3M	231M	261.2M	222.8M	237.7M	232.3M	205.5M	256.9M	238M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	299.1M	331.4M	392.1M	434.7M	475.7M	449.2M	466.7M	447.2M	492.1M	514.4M
Property, plant & equipment	40.5M	38.1M	48.1M	192.2M	189.6M	229.5M	234.5M	208.8M	183.6M	164.6M
Goodwill & intangibles	1.5B	1.4B	1.5B	1.5B	1.9B	2.3B	2.7B	2.6B	2.7B	2.7B
Total assets	1.1B	1.1B	1.2B	1.4B	1.7B	1.8B	2.1B	2B	2.1B	2.1B
Accounts payable	70.6M	75.1M	102.6M	134.6M	91.4M	105.7M	135.8M	134.5M	159.5M	123.5M
Short-term debt	—	—	—	32.5M	33.4M	44.9M	44.9M	48.9M	23.3M	21.5M
Total current liabilities	192.5M	224.4M	278.1M	339.1M	427M	376.6M	416M	418.2M	449.2M	404.3M
Long-term debt	259.4M	206.3M	200.4M	283.5M	418.8M	603.4M	731.5M	593.7M	578.9M	549.8M
Total liabilities	519.6M	494.2M	553.4M	681.5M	920.3M	1B	1.2B	1.1B	1.1B	1B
Shareholders' equity	566M	616M	660.4M	714.6M	747M	803.5M	853.2M	917.6M	982.5M	1B
Total debt	259.4M	206.3M	200.4M	316M	452.2M	648.3M	776.4M	642.7M	602.3M	571.3M
Net debt	253.3M	194.4M	188.7M	309.5M	438.3M	640.1M	765.1M	636.3M	597.3M	566M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	4M	5.3M	3.9M	4.6M
Receivables	—	—	—	—	—	—	—	—	233M	238M	240M	239.8M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	569M	514.4M	524.4M	579.1M
Property, plant & equipment	—	—	—	—	—	—	—	—	167.4M	164.6M	158.2M	154.2M
Goodwill & intangibles	—	—	—	—	—	—	—	—	2.7B	2.7B	2.7B	2.6B
Total assets	—	—	—	—	—	—	—	—	2.1B	2.1B	2.1B	2.1B
Accounts payable	—	—	—	—	—	—	—	—	139.2M	123.5M	93.3M	83.8M
Short-term debt	—	—	—	—	—	—	—	—	21.2M	21.5M	19.7M	18.5M
Total current liabilities	—	—	—	—	—	—	—	—	403.4M	404.3M	355M	418M
Long-term debt	—	—	—	—	—	—	—	—	602.7M	549.8M	582.6M	546.2M
Total liabilities	—	—	—	—	—	—	—	—	1.1B	1B	1B	1B
Shareholders' equity	—	—	—	—	—	—	—	—	1B	1B	1B	1B
Total debt	—	—	—	—	—	—	—	—	623.9M	571.3M	602.3M	564.8M
Net debt	—	—	—	—	—	—	—	—	620M	566M	598.4M	560.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	46.6M	62.9M	61.4M	68.9M	55M	71.1M	64.2M	82.6M	110.2M	91.6M
Depreciation & amortization	29.1M	28.6M	27.2M	28.2M	33.7M	32M	49.9M	60.7M	53.5M	58.1M
Stock-based compensation	9.1M	10.3M	11.5M	15.8M	17.6M	13.2M	13.2M	14.9M	16.7M	17.7M
Change in working capital	-23.9M	2.1M	-47.8M	-16.9M	24.5M	-22.2M	8.9M	-5.8M	-23.1M	-9.7M
Operating cash flow	66.8M	97.2M	59.4M	96.6M	130.5M	104.7M	146.2M	135.4M	137.6M	141.9M
Capital expenditure	—	—	—	—	—	—	—	—	-21.4M	—
Investing cash flow	-100K	-91K	-34.6M	-3.6M	-253.3M	-174.5M	-234.4M	18.7M	-74.8M	148K
Dividends paid	0	0	-7.9M	-10.5M	-10.6M	-10.6M	-10.5M	-10.5M	-10.5M	-10.4M
Share repurchases	-13.8M	-32.5M	-17.1M	-23.4M	-29.7M	-20M	-21.2M	-19.1M	-47.8M	-55.3M
Financing cash flow	-122.2M	-145.2M	-40.4M	-105.5M	320.3M	-752.9M	-1.4B	-1.6B	-1.4B	-1.5B
Net change in cash	-55.5M	-48M	-15.6M	-12.5M	197.5M	-822.8M	-1.4B	-1.4B	-1.3B	-1.3B
Free cash flow	66.3M	102.7M	52.9M	64.5M	155.5M	90.3M	137.7M	130M	150.1M	120.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	23.7M	22.2M	27.3M	25.6M	32.7M	24.6M	26.9M	23.7M	23.8M	17.3M	20.5M	26.9M
Depreciation & amortization	14.6M	14.5M	13.9M	13.2M	13.1M	13.3M	14.8M	14.7M	14.2M	14.5M	13.2M	13.4M
Stock-based compensation	3.4M	4.7M	3.6M	4.7M	4.3M	4.2M	4.2M	4.3M	4.5M	4.8M	4.7M	4.3M
Change in working capital	-2.9M	42.2M	-31M	-26.8M	-19.8M	54.5M	-48M	8.8M	-14.7M	44.2M	-33.1M	-20.7M
Operating cash flow	38.8M	71.3M	9M	11.7M	25.2M	91.7M	-3.3M	52M	47.3M	75.6M	-3.1M	99.7M
Capital expenditure	—	—	-5.2M	-5.2M	—	—	-3.5M	—	—	—	—	—
Investing cash flow	47.2M	4.2M	-3.5M	-5.2M	270K	-55M	-3.5M	0	0	-255K	—	—
Dividends paid	-2.6M	-2.6M	-2.6M	-2.6M	-2.6M	-2.6M	-2.6M	-2.6M	-2.6M	-2.6M	-2.6M	-2.5M
Share repurchases	-13K	1.5M	-30.4M	-263K	-377K	-16.8M	-39.3M	29K	2.3M	-15.8M	-18.3M	-14.4M
Financing cash flow	-458.6M	-505.6M	-326.9M	-423.9M	-297.1M	-353.2M	-390.6M	-334M	-327.9M	-422.6M	-264.9M	-724.4M
Net change in cash	-372.7M	-430M	-321.4M	-417.4M	-271.6M	-316.5M	-397.3M	-282M	-280.6M	-347.2M	-268.1M	-624.7M
Free cash flow	20.9M	102.4M	-15.2M	55.5M	20.4M	89.5M	-36.5M	46.2M	41.8M	68.7M	-6M	94M

ICF International, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement