ICF International Inc. Common Stock (ICFI)

FairStock Score: 47/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

ICF International is a government and commercial consulting firm, the sort of steady, unglamorous business I can understand: it sells expertise in policy, technology, energy, health, and cybersecurity. Its clients are often government-related, which can bring recurring demand and decent switching costs, but it is not a wide-moat franchise; contracts are competitive and renewal-dependent. The financials show a stalwart that has hit a soft patch. In fiscal year 2025, ended 2025-12-31, revenue was $1.9B, net income $91.6M, and diluted EPS $4.95. In fiscal year 2024, ended 2024-12-31, revenue was $2.0B, net income $110.2M, and diluted EPS $5.82, so the latest full year declined. The latest reported quarter, fiscal Q2 2026 ended 2026-06-30, had revenue $474.5M and net income $26.9M, versus fiscal Q2 2025 revenue $476.2M and net income $23.7M. Sales were nearly flat while profit improved, which is better than the full-year trend. Cash generation is a genuine strength: TTM free cash flow is $198.5M, a 12.7% FCF yield, per FairStock. The balance sheet is not pristine—debt-to-equity 0.54, Altman Z 1.94, ROCE 4.25%, ROE 8.64%—but Piotroski 7/9 is respectable. Valuation is not compelling. At the 2026-10-13 close of $87.44, the P/E is 18.07 and P/B 1.49, per FairStock. The Graham Number is $79.84, implying a -9.52% margin of safety, so the price is modestly above that value estimate. The Lynch category is STALWART, based on 10.8% five-year profit growth and 4.4% revenue growth. I would want evidence that full-year revenue and profit are stabilizing before calling this a bargain.

In plain English: ICF International is a consulting company that helps government and business clients with policy, technology, energy, health, and cybersecurity projects. The business still produces a lot of cash and pays a small dividend, but its full-year sales and profits fell in fiscal 2025 from the prior year, and returns on capital look modest. At the recent price, the stock looks a little expensive compared with a simple value estimate and not clearly cheap against its current profits.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer