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ICF International, Inc. provides management, technology, and policy consulting and implementation services to government and commercial clients in the United States and internationally. The Company provides consulting and technology services across several key domains, such as strategy and public policy; energy and environmental sustainability; and climate resilience; digital transformation including information technology; modernization, cloud, cybersecurity, and data analytics; health and social programs including public health and education; international development and capacity building; disaster management and recovery planning; transportation, aviation, and infrastructure; and marketing and strategic communications. The company serves energy, environment, infrastructure, and disaster recovery; health and social programs; and security and other civilian and commercial markets; U.S. federal government departments and agencies, local government departments and agencies, international governments, and commercial clients. 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 Reston, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.9B | $201M | $92M | $120M | 8.9% | -7.3% | -16.9% |
| 2024 | $2.0B | $221M | $110M | $150M | 11.2% | 2.9% | 33.4% |
| 2023 | $2.0B | $197M | $83M | $130M | 9.0% | 10.3% | 28.6% |
| 2022 | $1.8B | $157M | $64M | $138M | 7.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,779.96 | 1,963.24 | 2,019.79 | 1,872.85 |
| Operating Revenue | - | 1,779.96 | 1,963.24 | 2,019.79 | 1,872.85 |
| Cost Of Revenue | - | 1,134.42 | 1,265.02 | 1,282.02 | 1,176.84 |
| Gross Profit | - | 645.54 | 698.22 | 737.77 | 696.02 |
| Operating Expense | - | 536.78 | 565.90 | 571.93 | 550.55 |
| Selling General And Administration | - | 486.86 | 505.16 | 518.45 | 492.40 |
| Operating Income | - | 108.76 | 132.32 | 165.84 | 145.46 |
| Total Operating Income As Reported | - | 108.76 | 132.32 | 165.84 | 145.46 |
| EBITDA | - | 157.18 | 196.97 | 221.12 | 200.97 |
| Normalized EBITDA | - | 157.18 | 196.97 | 221.12 | 200.97 |
| EBIT | - | 107.26 | 136.23 | 167.65 | 142.83 |
| Interest Expense | - | 23.28 | 39.68 | 29.59 | 30.83 |
| Net Interest Income | - | -23.28 | -39.68 | -29.59 | -30.83 |
| Other Non Operating Income Expenses | - | -1.50 | 3.91 | 1.81 | -2.64 |
| Other Income Expense | - | -1.50 | 3.91 | 1.81 | -2.64 |
| Interest Expense Non Operating | - | 23.28 | 39.68 | 29.59 | 30.83 |
| Net Non Operating Interest Income Expense | - | -23.28 | -39.68 | -29.59 | -30.83 |
| Pretax Income | - | 83.98 | 96.55 | 138.06 | 111.99 |
| Tax Provision | - | 19.74 | 13.94 | 27.89 | 20.40 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 64.24 | 82.61 | 110.17 | 91.59 |
| Net Income From Continuing And Discontinued Operation | - | 64.24 | 82.61 | 110.17 | 91.59 |
| Net Income From Continuing Operation Net Minority Interest | - | 64.24 | 82.61 | 110.17 | 91.59 |
| Net Income | - | 64.24 | 82.61 | 110.17 | 91.59 |
| Net Income Common Stockholders | - | 64.24 | 82.61 | 110.17 | 91.59 |
| Net Income Including Noncontrolling Interests | - | 64.24 | 82.61 | 110.17 | 91.59 |
| Normalized Income | - | 64.24 | 82.61 | 110.17 | 91.59 |
| Diluted NI Availto Com Stockholders | - | 64.24 | 82.61 | 110.17 | 91.59 |
| Basic Average Shares | - | 18.82 | 18.80 | 18.75 | 18.41 |
| Diluted Average Shares | - | 19.03 | 18.99 | 18.92 | 18.52 |
| Reconciled Depreciation | - | 49.92 | 60.74 | 53.48 | 58.15 |
| Reconciled Cost Of Revenue | - | 1,134.42 | 1,265.02 | 1,282.02 | 1,176.84 |
| Depreciation Amortization Depletion Income Statement | - | 49.92 | 60.74 | 53.48 | 58.15 |
| Depreciation And Amortization In Income Statement | - | 49.92 | 60.74 | 53.48 | 58.15 |
| Amortization | 12.49 | 28.44 | 35.46 | 32.99 | - |
| Amortization Of Intangibles Income Statement | 12.49 | 28.44 | 35.46 | 32.99 | - |
| Depreciation Income Statement | 19.48 | 21.48 | 25.28 | 20.48 | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ICF International, Inc.this co. | ICFI | $1.2B | 13.60↓ discount | 1.21 | 8.9% | 9.01 |
| Cadre Holdings, Inc. | CDRE | $1.3B | 29.32 | 4.07 | 13.9% | 16.04 |
| Energizer Holdings, Inc. | ENR | $1.3B | 5.41 | 7.61 | 140.7% | 8.12 |
| Napco Security Technologies, Inc. | NSSC | $1.3B | 29.44 | 7.58 | 25.7% | 24.73 |
| Insperity, Inc. | NSP | $1.3B |
| - |
| - |
| - |
| - |
| - |
| - |
| -182.50 |
| 27.77 |
| -15.2% |
| 16.47 |
| Distribution Solutions Group, Inc. | DSGR | $1.3B | 153.06 | 1.97 | 1.3% | 13.07 |
| Heartland Express, Inc. | HTLD | $1.2B | - | 1.62 | -6.9% | 13.29 |
| Satellogic Inc. | SATL | $1.2B | -252.29 | 19.94 | -7.9% | 322.72 |
| Graham Corporation | GHM | $1.2B | 97.74 | 10.00 | 10.2% | 55.89 |
| Peer Median | - | 29.32 | 7.59 | 5.8% | 16.26 | |