ICFI
ICF International, Inc.
ICFI's fundamentals are mixed, but it looks cheap: trading at 15x earnings, below its usual 26x. Analysts expect earnings growth.
ICFI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Healthy |
ICFI's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
ICFI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $82.22 | — |
| Current | 15x | $82.22 | — |
| Cheap | 16x | $87.25 | +6.1% |
| Fair | 25x | $135 | +64% |
| Expensive | 32x | $171 | +109% |
Historical ranges are pointers, not guarantees.
ICFI's PE is in its cheap range at 15x. If earnings grow as analysts expect, today's price would be 11x next year's earnings.
ICFI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect ICFI's earnings to grow and its profitability to improve, with its revenue holding steady.
ICFI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.49 | +41% |
| Q3 2026 | $5.32 | +0.6% |
| Q2 2026 | $4.84 | -16% |
| Q1 2026 | $4.63 | -20% |
| Q4 2025 | $4.95 | -15% |
| Q3 2025 | $5.29 | -7% |
| Q2 2025 | $5.74 | +10% |
| Q1 2025 | $5.82 | +18% |
| Q4 2024 | $5.82 | +34% |
ICFI earned $5.32 per share over the past year, about the same as the year before.
ICFI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $470.5M | +1.1% |
| Q2 2026 | $474.5M | -0.3% |
| Q1 2026 | $437.5M | -10% |
| Q4 2025 | $443.7M | -11% |
| Q3 2025 | $465.4M | -10% |
| Q2 2025 | $476.2M | -7% |
| Q1 2025 | $487.6M | -1.4% |
| Q4 2024 | $496.3M | +3.8% |
ICFI's revenue is down over the past year, though its latest quarter was up: $470M last quarter, up 1.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.3% | +1 points |
| Q2 2026 | 8.4% | 0 points |
| Q1 2026 | 8% | +0.1 points |
| Q4 2025 | 6.5% | -0.9 points |
| Q3 2025 | 8.3% | -0.6 points |
| Q2 2025 | 8.4% | +0.1 points |
| Q1 2025 | 7.9% | -0.4 points |
| Q4 2024 | 7.3% | -0.4 points |
ICFI's operating margin was 9.3% last quarter, up 1 points from the same quarter a year ago, near the top of its range since 2019.
ICFI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $29.6M | -29% |
| Q2 2026 | $94M | +103% |
| Q1 2026 | -$6M | +$30.5M |
| Q4 2025 | $68.7M | -23% |
| Q3 2025 | $41.8M | +105% |
| Q1 2025 | -$36.5M | -$21.3M |
| Q4 2024 | $89.5M | -13% |
| Q3 2024 | $20.4M | -2.6% |
ICFI generated $186M in free cash flow over the past year, up 32% from the year before.
ICFI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +7K shares |
| 1 year | -2.5% | -471K shares |
| 3 years | -4.8% | -919K shares |
| 5 years | -5.3% | -1M shares |
| Available history | -6.1% | -1.2M shares |
ICFI has 18M diluted shares, down 2.5% from a year ago, with $49M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $379,000 |
| Q2 2026 | $14.4M |
| Q1 2026 | $18.3M |
| Q4 2025 | $15.8M |
| Q3 2025 | $199,000 |
| Q2 2025 | $29,000 |
| Q1 2025 | $39.3M |
| Q4 2024 | $16.8M |
ICFI spent $49M buying back its own shares over the past year, down 13% from the year before.
ICFI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.0x | Healthy |
| Q3 2025 | 2.1x | Moderate |
| Q2 2025 | 2.2x | Moderate |
| Q1 2025 | 2.5x | Moderate |
| Q4 2024 | 2.0x | Moderate |
ICFI's net debt is about 1.9 years of its operating earnings (EBITDA), down from 2.1 years a year ago.
ICFI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.8 | Neutral |
| Stochastic | 36.9 | Neutral |
ICFI's weekly RSI is 49 (neutral) and its Stochastic is 37 (neutral).
ICFI PE vs Industrials Sector
| Metric | ICFI | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 24x | 36% below |
| PE % | 13 | 58 | 45 pts below |
ICFI is trading at 15x earnings, a 36% discount to the Industrials sector's median of 24x.
ICFI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $86.8 | 5.2% below |
| 20 week MA | $85.4 | 3.7% below |
| 50 week MA | $80.3 | 2.4% above |
| 100 week MA | $86.7 | 5.2% below |
| 200 week MA | $110.7 | 26% below |
ICFI's trend is mixed: it's above one of its five weekly moving averages, and 26% below its 200-week average.
ICFI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $92.2 | $74.6 | -19% |
| 2021 | $74.6 | $101.1 | +35% |
| 2022 | $101.1 | $98.6 | -2.5% |
| 2023 | $98.6 | $134.1 | +36% |
| 2024 | $134.1 | $118.5 | -12% |
| 2025 | $118.5 | $86.2 | -27% |
| 2026 YTD | $86.2 | $82.2 | -4.6% |
ICFI has finished lower in four of the last six years. It's down 4.6% so far in 2026.