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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% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total 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 |
| Operating Income | 108.76 | 132.32 | 165.84 | 145.47 |
| EBITDA | 157.18 | 196.97 | 221.12 | 200.97 |
| EBIT | 107.26 | 136.23 | 167.65 | 142.83 |
| Pretax Income | 83.98 | 96.55 | 138.06 | 111.99 |
| Tax Provision | 19.74 | 13.94 | 27.89 | 20.41 |
| Net Income | 64.24 | 82.61 | 110.17 | 91.59 |
| Net Income Common Stockholders | 64.24 | 82.61 | 110.17 | 91.59 |
| Total Expenses | 1,671.20 | 1,830.92 | 1,853.94 | 1,727.39 |
| Interest Expense | 23.28 | 39.68 | 29.59 | 30.83 |
| Selling General And Administration | 486.86 | 505.16 | 518.45 | 492.40 |
| Normalized EBITDA | 157.18 | 196.97 | 221.12 | 200.97 |
| Normalized Income | 64.24 | 82.61 | 110.17 | 91.59 |
| Basic EPS | 3.41 | 4.39 | 5.88 | 4.97 |
| Diluted EPS | 3.38 | 4.35 | 5.82 | 4.95 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.23 | 0.14 | 0.20 | 0.18 |
| Net Income From Continuing Operation Net Minority Interest | 64.24 | 82.61 | 110.17 | 91.59 |
| 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 |
| Net Interest Income | -23.28 | -39.68 | -29.59 | -30.83 |
| Net Income From Continuing And Discontinued Operation | 64.24 | 82.61 | 110.17 | 91.59 |
| Total Operating Income As Reported | 108.76 | 132.32 | 165.84 | 145.47 |
| Diluted Average Shares | 19.03 | 18.99 | 18.93 | 18.52 |
| Basic Average Shares | 18.82 | 18.80 | 18.75 | 18.41 |
| Diluted NI Availto Com Stockholders | 64.24 | 82.61 | 110.17 | 91.59 |
| Net Income Including Noncontrolling Interests | 64.24 | 82.61 | 110.17 | 91.59 |
| Net Income Continuous Operations | 64.24 | 82.61 | 110.17 | 91.59 |
| Other Income Expense | -1.50 | 3.91 | 1.81 | -2.64 |
| Other Non Operating Income Expenses | -1.50 | 3.91 | 1.81 | -2.64 |
| Net Non Operating Interest Income Expense | -23.28 | -39.68 | -29.59 | -30.83 |
| Interest Expense Non Operating | 23.28 | 39.68 | 29.59 | 30.83 |
| 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 | 28.43 | 35.46 | 32.99 | 0 |
| Amortization Of Intangibles Income Statement | 28.43 | 35.46 | 32.99 | 0 |
| Depreciation Income Statement | 21.48 | 25.28 | 20.48 | 0 |
| Operating Revenue | 1,779.96 | 1,963.24 | 2,019.79 | 1,872.85 |
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 | 13.85↓ discount | 1.22 | 8.9% | 8.94 |
| Eastman Kodak Company | KODK | $1.3B | - | 2.13 | -18.0% | 6.74 |
| Evolv Technologies Holdings, Inc. | EVLV | $1.3B | - | 10.32 | -27.7% | -140.63 |
| PROG Holdings, Inc. | PRG | $1.3B | 8.58 | 1.69 | 19.7% | 0.85 |
| Global Industrial Company | GIC | $1.2B |
| 17.62 |
| 3.97 |
| 23.0% |
| 12.16 |
| Distribution Solutions Group, Inc. | DSGR | $1.2B | 149.72 | 1.92 | 1.3% | 12.46 |
| Marten Transport, Ltd. | MRTN | $1.2B | 69.22 | 1.57 | 2.3% | 10.02 |
| Lindsay Corporation | LNN | $1.2B | 15.37 | 2.14 | 13.9% | 8.73 |
| Cadre Holdings, Inc. | CDRE | $1.2B | 26.84 | 3.63 | 13.9% | 14.36 |
| Peer Median | - | 22.23 | 2.13 | 8.1% | 9.37 | |