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ICF International (ICFI) Financials

ICF International logo
$60.86 +0.96 (+1.60%)
Closing price 04:00 PM Eastern
Extended Trading
$60.88 +0.02 (+0.03%)
As of 05:54 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
Annual Income Statements for ICF International

Annual Income Statements for ICF International

This table shows ICF International's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders
39 47 63 61 69 55 71 64 79 106 94
Consolidated Net Income / (Loss)
39 47 63 61 69 55 71 64 83 110 92
Net Income / (Loss) Continuing Operations
39 47 63 61 69 55 71 64 83 110 92
Total Pre-Tax Income
64 75 74 83 90 75 100 84 97 138 112
Total Operating Income
75 83 82 92 101 89 111 109 132 166 145
Total Gross Profit
438 440 457 480 525 534 573 646 698 738 696
Total Revenue
1,132 1,185 1,229 1,338 1,479 1,507 1,553 1,780 1,963 2,020 1,873
Operating Revenue
1,132 1,185 1,229 1,338 1,479 1,507 1,553 1,780 1,963 2,020 1,873
Total Cost of Revenue
694 745 772 858 953 972 980 1,134 1,265 1,282 1,177
Operating Cost of Revenue
694 745 772 858 953 972 980 1,134 1,265 1,282 1,177
Total Operating Expenses
363 357 375 388 424 445 463 537 566 572 551
Selling, General & Admin Expense
329 328 346 361 396 412 431 487 505 518 492
Depreciation Expense
16 17 18 17 20 20 19 21 61 53 58
Total Other Income / (Expense), net
-12 -8.29 -8.43 -9.45 -11 -14 -11 -25 -36 -28 -33
Interest Expense
10 9.47 8.55 8.71 11 14 9.98 23 40 30 31
Other Income / (Expense), net
-1.56 1.18 0.12 -0.74 -0.50 -0.72 -0.86 -1.50 3.91 1.81 -2.64
Income Tax Expense
24 28 11 21 21 20 29 20 14 28 20
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)
- - - - - - - - 3.75 3.86 -2.32
Basic Earnings per Share
$2.04 $2.45 $3.35 $3.27 $3.66 $2.92 $3.77 $3.41 $4.39 $5.88 $4.97
Weighted Average Basic Shares Outstanding
19.34M 18.99M 18.77M 18.80M 18.82M 18.84M 18.87M 18.82M 18.80M 18.75M 18.41M
Diluted Earnings per Share
$2.00 $2.40 $3.27 $3.18 $3.59 $2.87 $3.72 $3.38 $4.35 $5.82 $4.95
Weighted Average Diluted Shares Outstanding
19.66M 19.42M 19.24M 19.34M 19.22M 19.14M 19.12M 19.03M 18.99M 18.93M 18.52M
Weighted Average Basic & Diluted Shares Outstanding
19.30M 19M 18.80M 18.80M 18.85M 18.87M 18.77M 18.73M 18.72M 18.44M 18.27M
Cash Dividends to Common per Share
- - - $0.56 $0.56 $0.56 $0.56 $0.56 $0.56 $0.56 $0.56

Quarterly Income Statements for ICF International

This table shows ICF International's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders
24 22 27 26 33 21 24 24 24 20 20
Consolidated Net Income / (Loss)
24 22 27 26 33 25 27 24 24 17 21
Net Income / (Loss) Continuing Operations
24 22 27 26 33 25 27 24 24 17 21
Total Pre-Tax Income
24 30 34 35 38 31 30 30 31 21 27
Total Operating Income
32 37 41 42 46 36 38 40 38 29 35
Total Gross Profit
178 175 184 183 192 179 185 178 175 158 167
Total Revenue
502 478 494 512 517 496 488 476 465 444 438
Operating Revenue
502 478 494 512 517 496 488 476 465 444 438
Total Cost of Revenue
324 304 311 329 325 317 303 298 291 285 271
Operating Cost of Revenue
324 304 311 329 325 317 303 298 291 285 271
Total Operating Expenses
146 138 143 140 146 143 147 138 136 130 132
Selling, General & Admin Expense
132 123 129 127 133 129 132 123 122 115 119
Depreciation Expense
5.92 6.23 14 13 13 13 15 15 14 14 13
Total Other Income / (Expense), net
-7.82 -7.13 -6.61 -7.67 -8.09 -5.42 -8.39 -10 -7.69 -7.34 -7.47
Interest Expense
11 9.54 8.24 7.70 7.20 6.45 7.34 8.42 7.86 7.21 6.71
Other Income / (Expense), net
2.74 2.41 1.63 0.04 -0.90 1.04 -1.05 -1.64 0.18 -0.12 -0.76
Income Tax Expense
0.34 7.63 7.02 9.13 5.25 6.49 3.15 6.29 6.98 3.99 6.87
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)
- - - - - - 2.71 - - - 0.67
Basic Earnings per Share
$1.26 $1.18 $1.46 $1.37 $1.74 $1.31 $1.45 $1.29 $1.29 $0.94 $1.12
Weighted Average Basic Shares Outstanding
18.82M 18.80M 18.76M 18.74M 18.76M 18.75M 18.51M 18.40M 18.43M 18.41M 18.24M
Diluted Earnings per Share
$1.25 $1.16 $1.44 $1.36 $1.73 $1.29 $1.44 $1.28 $1.28 $0.95 $1.12
Weighted Average Diluted Shares Outstanding
18.97M 18.99M 18.95M 18.86M 18.91M 18.93M 18.61M 18.46M 18.53M 18.52M 18.35M
Weighted Average Basic & Diluted Shares Outstanding
18.82M 18.72M 18.76M - 18.76M 18.44M 18.41M 18.43M 18.44M 18.27M 18.10M
Cash Dividends to Common per Share
$0.14 $0.14 $0.14 $0.14 $0.14 $0.14 $0.14 $0.14 $0.14 $0.14 $0.14

Annual Cash Flow Statements for ICF International

This table details how cash moves in and out of ICF International's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents
-2.75 -0.81 15 -10 -6.50 76 -62 -7.47 -3.52 9.37 38
Net Cash From Operating Activities
76 80 117 75 91 173 110 162 152 172 142
Net Cash From Continuing Operating Activities
76 80 117 75 91 173 110 162 152 172 142
Net Income / (Loss) Continuing Operations
39 47 63 61 69 55 71 64 83 110 92
Consolidated Net Income / (Loss)
39 47 63 61 69 55 71 64 83 110 92
Depreciation Expense
33 29 29 27 28 34 32 50 61 53 58
Non-Cash Adjustments To Reconcile Net Income
13 13 13 15 18 25 33 24 17 21 20
Changes in Operating Assets and Liabilities, net
-10 -8.74 12 -29 -24 58 -26 24 -7.70 -13 -27
Net Cash From Investing Activities
-15 -14 -15 -56 -30 -271 -194 -259 -3.67 -75 -22
Net Cash From Continuing Investing Activities
-15 -14 -15 -56 -30 -271 -194 -259 -3.67 -75 -22
Purchase of Property, Plant & Equipment
-13 -14 -15 -22 -27 -18 -20 -24 -22 -21 -22
Acquisitions
-1.82 -0.10 -0.09 -35 -3.57 -253 -175 -234 -33 -55 0.00
Divestitures
- - - - - - 0.00 0.00 51 1.99 0.00
Other Investing Activities, net
- - - - - - - 0.00 0.00 -0.35 0.15
Net Cash From Financing Activities
-64 -67 -87 -29 -68 170 23 90 -153 -87 -84
Net Cash From Continuing Financing Activities
-64 -67 -87 -29 -68 170 23 90 -153 -87 -84
Repayment of Debt
-420 -531 -645 -580 -722 -872 -773 -1,452 -1,416 -1,317 -1,387
Repurchase of Common Equity
-25 -14 -32 -17 -23 -30 -20 -21 -19 -48 -55
Payment of Dividends
- - - -7.92 -11 -11 -11 -11 -11 -11 -10
Issuance of Debt
382 479 590 574 687 1,020 881 1,584 1,294 1,290 1,368
Other Financing Activities, net
-1.05 -1.01 -0.09 2.12 1.29 62 -54 -10 -0.41 -2.02 0.00
Effect of Exchange Rate Changes
- - - - 0.17 3.35 -0.51 -1.20 0.36 -0.47 1.46
Cash Interest Paid
9.85 8.94 7.92 9.89 10 14 10 23 34 30 29

Quarterly Cash Flow Statements for ICF International

This table details how cash moves in and out of ICF International's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents
-3.62 1.60 -4.85 0.17 2.87 11 5.28 2.80 27 2.40 8.93
Net Cash From Operating Activities
26 107 -10 61 26 95 -33 52 47 76 -3.14
Net Cash From Continuing Operating Activities
26 107 -10 61 26 95 -33 52 47 76 -3.14
Net Income / (Loss) Continuing Operations
24 22 27 26 33 25 27 24 24 17 21
Consolidated Net Income / (Loss)
24 22 27 26 33 25 27 24 24 17 21
Depreciation Expense
15 15 14 13 13 13 15 15 14 14 13
Non-Cash Adjustments To Reconcile Net Income
1.43 7.64 3.23 5.30 7.34 5.17 5.53 6.01 4.91 3.14 6.08
Changes in Operating Assets and Liabilities, net
-14 62 -54 17 -28 52 -80 7.59 4.48 41 -43
Net Cash From Investing Activities
42 -0.28 -3.51 -5.17 -4.90 -61 -3.45 -5.35 -5.54 -7.17 -2.83
Net Cash From Continuing Investing Activities
42 -0.28 -3.51 -5.17 -4.90 -61 -3.45 -5.35 -5.54 -7.17 -2.83
Purchase of Property, Plant & Equipment
-4.74 -4.46 -5.23 -5.17 -5.17 -5.87 -3.45 -5.75 -5.54 -6.91 -2.83
Divestitures
47 4.18 1.72 - 0.27 - 0.00 - - - 0.00
Other Investing Activities, net
- - - - - - 0.00 - - -0.26 0.00
Net Cash From Financing Activities
-71 -106 8.83 -55 -18 -22 41 -45 -15 -66 15
Net Cash From Continuing Financing Activities
-71 -106 8.83 -55 -18 -22 41 -45 -15 -66 15
Repayment of Debt
-388 -401 -336 -369 -280 -332 -432 -290 -308 -356 -280
Repurchase of Common Equity
-0.01 1.52 -30 -0.26 -0.38 -17 -39 0.03 -0.20 -16 -18
Payment of Dividends
-2.63 -2.63 -2.64 -2.62 -2.62 -2.63 -2.62 -2.58 -2.58 -2.58 -2.55
Issuance of Debt
321 296 380 317 265 328 515 248 296 309 316
Other Financing Activities, net
-1.61 0.22 -2.13 -0.18 0.00 0.30 0.00 - - - 0.00
Effect of Exchange Rate Changes
-0.39 0.57 -0.17 0.04 0.31 -0.65 0.74 0.75 -0.06 0.02 -0.23
Cash Interest Paid
10 4.92 7.74 7.53 9.12 5.66 4.54 10 5.14 9.23 5.93
Cash Income Taxes Paid
4.15 14 1.13 30 19 9.84 1.10 25 1.59 - 0.08

Annual Balance Sheets for ICF International

This table presents ICF International's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets
1,080 1,086 1,110 1,214 1,396 1,667 1,850 2,092 2,012 2,066 2,050
Total Current Assets
275 299 331 392 435 476 449 467 447 492 514
Cash & Equivalents
7.75 6.04 12 12 6.48 14 8.25 11 6.36 4.96 5.30
Restricted Cash
- - 11 - 0.00 68 12 1.71 3.09 14 48
Accounts Receivable
257 281 168 231 261 223 238 232 205 257 238
Prepaid Expenses
10 12 11 16 17 25 42 41 28 21 18
Current Deferred & Refundable Income Taxes
- - 5.60 6.51 7.32 1.98 11 12 2.34 6.26 18
Other Current Assets
- - 123 127 142 143 138 169 202 189 187
Plant, Property, & Equipment, net
45 40 38 48 58 62 52 85 76 67 58
Total Noncurrent Assets
760 746 741 774 903 1,129 1,348 1,540 1,489 1,508 1,477
Goodwill
687 684 686 716 720 910 1,047 1,213 1,219 1,249 1,252
Intangible Assets
59 46 35 35 26 60 80 127 95 112 82
Other Noncurrent Operating Assets
12 16 19 23 157 159 222 201 174 146 144
Total Liabilities & Shareholders' Equity
1,080 1,086 1,110 1,214 1,396 1,667 1,850 2,092 2,012 2,066 2,050
Total Liabilities
557 520 494 553 681 920 1,046 1,239 1,094 1,084 1,022
Total Current Liabilities
183 192 224 278 339 427 377 416 418 449 404
Accounts Payable
64 71 75 103 135 91 106 136 135 160 124
Accrued Expenses
43 53 65 98 82 180 101 124 125 136 120
Current Employee Benefit Liabilities
43 40 46 44 52 81 86 86 88 106 96
Other Current Liabilities
- - 39 33 70 65 75 47 45 48 65
Total Noncurrent Liabilities
374 327 270 275 342 493 669 823 676 635 617
Long-Term Debt
312 259 206 200 164 303 412 533 404 412 401
Noncurrent Deferred & Payable Income Tax Liabilities
33 39 33 40 38 34 42 68 26 0.00 6.84
Other Noncurrent Operating Liabilities
13 13 15 21 141 156 216 206 232 212 209
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
523 566 616 660 715 747 803 853 918 982 1,028
Total Preferred & Common Equity
523 566 616 660 715 747 803 853 918 982 1,028
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
523 566 616 660 715 747 803 853 918 982 1,028
Common Stock
280 292 308 326 347 369 385 402 422 443 466
Retained Earnings
325 372 435 486 545 589 649 703 775 875 956
Treasury Stock
-75 -89 -122 -140 -165 -197 -220 -244 -267 -320 -380
Accumulated Other Comprehensive Income / (Loss)
-7.49 -9.64 -5.04 -13 -12 -14 -11 -8.13 -12 -16 -13

Quarterly Balance Sheets for ICF International

This table presents ICF International's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets
2,158 2,072 2,115 2,055 2,006 2,028 2,075 2,074 2,114 2,053
Total Current Assets
532 455 478 477 465 493 511 506 569 524
Cash & Equivalents
8.48 5.36 6.97 5.08 4.06 6.91 5.72 6.98 3.99 3.88
Restricted Cash
1.99 3.57 4.50 2.77 0.71 0.72 18 20 47 49
Accounts Receivable
282 221 226 215 209 212 236 213 233 240
Prepaid Expenses
31 28 33 34 23 25 21 22 22 20
Current Deferred & Refundable Income Taxes
12 8.42 7.63 11 4.59 11 1.07 8.14 37 19
Other Current Assets
197 188 200 209 223 238 228 236 226 192
Plant, Property, & Equipment, net
85 85 84 79 72 71 64 62 59 55
Total Noncurrent Assets
1,540 1,532 1,553 1,499 1,469 1,464 1,501 1,506 1,486 1,473
Goodwill
1,190 1,214 1,236 1,219 1,219 1,221 1,251 1,253 1,252 1,251
Intangible Assets
136 116 117 103 78 70 103 96 89 74
Other Noncurrent Operating Assets
214 202 200 176 171 172 143 144 145 148
Total Liabilities & Shareholders' Equity
2,158 2,072 2,115 2,055 2,006 2,028 2,075 2,074 2,114 2,053
Total Liabilities
1,320 1,226 1,243 1,162 1,062 1,052 1,106 1,074 1,089 1,021
Total Current Liabilities
372 352 369 369 392 408 382 393 403 355
Accounts Payable
129 110 113 123 111 121 122 124 139 93
Accrued Expenses
99 110 109 107 131 141 134 132 124 132
Current Employee Benefit Liabilities
75 61 87 77 94 91 76 90 84 66
Other Current Liabilities
49 44 40 39 44 41 50 47 56 64
Total Noncurrent Liabilities
948 874 873 793 670 644 725 680 686 666
Long-Term Debt
681 572 581 511 422 405 502 462 449 439
Noncurrent Deferred & Payable Income Tax Liabilities
46 69 63 40 16 5.98 - - 23 15
Other Noncurrent Operating Liabilities
207 217 214 228 220 221 212 208 205 212
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
838 847 873 893 943 976 969 1,000 1,024 1,032
Total Preferred & Common Equity
838 847 873 893 943 976 969 1,000 1,024 1,032
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
838 847 873 893 943 976 969 1,000 1,024 1,032
Common Stock
397 406 411 415 432 437 448 454 459 471
Retained Earnings
697 717 734 756 823 853 899 920 941 974
Treasury Stock
-242 -266 -267 -267 -300 -301 -359 -362 -362 -399
Accumulated Other Comprehensive Income / (Loss)
-14 -9.47 -6.32 -10 -12 -12 -18 -12 -14 -14

Annual Metrics And Ratios for ICF International

This table displays calculated financial ratios and metrics derived from ICF International's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding
- - - - - - - - - - 18,435,932.00
DEI Adjusted Shares Outstanding
- - - - - - - - - - 18,435,932.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - - - - - - 5.09
Growth Metrics
- - - - - - - - - - -
Profitability Metrics
- - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)
47 52 70 68 78 66 79 83 113 132 119
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - 5.84% 8.31% 9.42% 8.27%
Earnings before Interest and Taxes (EBIT)
74 84 83 92 101 88 110 107 136 168 143
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
108 114 112 119 130 123 143 157 197 221 201
Valuation Ratios
- - - - - - - - - - -
Leverage & Solvency
- - - - - - - - - - -
Liquidity Ratios
- - - - - - - - - - -
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
58 58 90 19 54 -40 -148 -125 173 98 120
Efficiency Ratios
- - - - - - - - - - -
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
826 819 799 849 872 978 1,205 1,413 1,352 1,387 1,385
Increase / (Decrease) in Invested Capital
-11 -6.35 -20 50 23 106 226 208 -60 34 -1.53
Book Value per Share
$27.22 $29.86 $33.04 $35.04 $37.99 $39.60 $42.57 $45.28 $48.76 $52.36 $55.79
Tangible Book Value per Share
($11.60) ($8.64) ($5.65) ($4.81) ($1.66) ($11.81) ($17.11) ($25.80) ($21.09) ($18.90) ($16.56)
Total Capital
835 825 822 861 879 1,060 1,225 1,426 1,362 1,405 1,438
Total Debt
312 259 206 200 164 313 422 572 444 423 410
Total Long-Term Debt
312 259 206 200 164 303 412 549 418 423 410
Net Debt
304 253 183 189 158 231 401 559 435 404 357
Capital Expenditures (CapEx)
13 14 15 22 27 18 20 24 22 21 22
Debt-free, Cash-free Net Working Capital (DFCFNWC)
84 101 84 102 89 -23 62 61 45 24 57
Debt-free Net Working Capital (DFNWC)
92 107 107 114 96 59 83 74 55 43 110
Net Working Capital (NWC)
92 107 107 114 96 49 73 51 29 43 110
Net Nonoperating Expense (NNE)
7.20 5.18 7.17 7.00 8.58 11 7.71 19 31 22 27
Net Nonoperating Obligations (NNO)
302 253 183 189 158 231 401 559 435 404 357
Total Depreciation and Amortization (D&A)
34 30 29 28 29 34 33 50 61 53 58
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$2.04 $2.45 $3.35 $3.27 $3.66 $2.92 $3.77 $3.41 $4.39 $5.88 $4.97
Adjusted Weighted Average Basic Shares Outstanding
19.34M 18.99M 18.77M 18.80M 18.82M 18.84M 18.87M 18.82M 18.80M 18.75M 18.41M
Adjusted Diluted Earnings per Share
$2.00 $2.40 $3.27 $3.18 $3.59 $2.87 $3.72 $3.38 $4.35 $5.82 $4.95
Adjusted Weighted Average Diluted Shares Outstanding
19.66M 19.42M 19.24M 19.34M 19.22M 19.14M 19.12M 19.03M 18.99M 18.93M 18.52M
Adjusted Basic & Diluted Earnings per Share
$2.04 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
18.96M 19.02M 18.62M 18.81M 18.85M 18.87M 18.77M 18.73M 18.72M 18.44M 18.27M
Normalized Net Operating Profit after Tax (NOPAT)
47 52 70 68 78 66 79 83 113 132 119
Debt Service Ratios
- - - - - - - - - - -
Payout Ratios
- - - - - - - - - - -

Quarterly Metrics And Ratios for ICF International

This table displays calculated financial ratios and metrics derived from ICF International's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 6/30/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding
- - - - - 18,762,710.00 - - - 18,435,932.00 18,273,280.00
DEI Adjusted Shares Outstanding
- - - - - 18,762,710.00 - - - 18,435,932.00 18,273,280.00
DEI Earnings Per Adjusted Shares Outstanding
- - - - - 1.10 - - - 1.06 1.09
Growth Metrics
- - - - - - - - - - -
Revenue Growth
7.21% 0.58% 5.95% 2.39% 3.09% - -1.38% -7.01% -9.98% - -10.28%
EBITDA Growth
13.50% 46.01% 21.29% 17.19% 18.37% - -7.63% -4.62% -9.38% - -9.31%
EBIT Growth
19.16% 86.30% 37.39% 35.30% 30.28% - -12.30% -9.59% -14.44% - -8.67%
NOPAT Growth
26.21% 60.03% 29.94% 2.00% 26.08% - 5.48% 1.11% -25.08% - -23.99%
Net Income Growth
24.26% 149.60% 56.18% 26.09% 37.65% - -1.71% -7.61% -27.27% - -23.57%
EPS Growth
23.76% 152.17% 56.32% 27.10% 38.40% - 0.00% -5.88% -26.01% - -22.22%
Operating Cash Flow Growth
13,628.88% -31.35% 40.58% 65.18% 0.00% - -230.31% -14.31% 85.22% - 90.49%
Free Cash Flow Firm Growth
128.61% 145.96% 156.26% 909.78% -47.43% - -138.47% -193.69% -103.20% - 272.90%
Invested Capital Growth
-7.04% -4.27% -4.56% 0.00% -2.37% - 5.22% 0.00% 2.29% - -2.71%
Revenue Q/Q Growth
0.29% -4.62% 7.04% 3.56% 0.00% - 0.00% -2.35% -2.26% - -1.39%
EBITDA Q/Q Growth
3.61% 9.47% 2.62% -1.41% 0.00% - 0.00% 1.81% -0.56% - 9.97%
EBIT Q/Q Growth
10.41% 13.54% 7.92% -0.31% 0.00% - 0.00% 2.77% 0.61% - 19.61%
NOPAT Q/Q Growth
2.61% -12.67% 13.83% -4.02% 0.00% - 0.00% -8.00% -6.02% - 12.21%
Net Income Q/Q Growth
16.88% -6.65% 15.56% -6.25% 0.00% - 0.00% -11.88% 0.44% - 18.56%
EPS Q/Q Growth
16.82% -7.20% 17.24% -5.56% 0.00% - 0.00% -11.11% 0.00% - 17.89%
Operating Cash Flow Q/Q Growth
-30.07% 316.12% -109.36% 706.30% 0.00% - -134.64% 257.28% -8.92% - -104.15%
Free Cash Flow Firm Q/Q Growth
175.11% -37.32% 11.05% 1,428.51% 0.00% - 0.00% -3,622.89% 99.83% - 96.85%
Invested Capital Q/Q Growth
-3.00% -5.67% 2.41% -100.00% 0.00% - 0.00% -0.80% -0.96% - 3.00%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
35.50% 36.54% 35.68% 35.68% 37.13% - 37.96% 37.33% 37.57% - 38.14%
EBITDA Margin
9.81% 11.26% 11.00% 10.87% 11.26% - 10.69% 11.15% 11.34% - 10.81%
Operating Margin
6.36% 7.72% 8.28% 8.28% 8.90% - 7.87% 8.40% 8.26% - 7.97%
EBIT Margin
6.91% 8.22% 8.29% 8.29% 8.73% - 7.66% 8.06% 8.30% - 7.79%
Profit (Net Income) Margin
4.73% 4.63% 5.00% 5.00% 6.32% - 5.51% 4.97% 5.11% - 4.69%
Tax Burden Percent
98.59% 74.39% 73.72% 73.72% 86.16% - 89.50% 79.00% 77.30% - 74.93%
Interest Burden Percent
69.52% 75.76% 81.85% 81.85% 84.06% - 80.35% 78.05% 79.64% - 80.32%
Effective Tax Rate
1.41% 25.61% 26.28% 26.28% 13.84% - 10.50% 21.00% 22.70% - 25.07%
Return on Invested Capital (ROIC)
8.26% 8.15% 8.58% 0.00% 0.00% - 9.98% 18.16% 8.68% - 7.57%
ROIC Less NNEP Spread (ROIC-NNEP)
7.02% 7.09% 7.50% 0.00% 0.00% - 8.37% 14.59% 7.25% - 6.29%
Return on Net Nonoperating Assets (RNNOA)
5.05% 3.98% 4.38% 0.00% 0.00% - 4.07% 6.49% 3.01% - 2.75%
Return on Equity (ROE)
13.31% 12.13% 12.96% 0.00% 0.00% - 14.05% 24.65% 11.69% - 10.32%
Cash Return on Invested Capital (CROIC)
14.31% 12.55% 13.11% 0.00% 0.00% - 4.34% -181.40% 6.53% - 10.45%
Operating Return on Assets (OROA)
6.43% 7.87% 8.10% 0.00% 0.00% - 7.55% 7.68% 7.71% - 6.88%
Return on Assets (ROA)
4.41% 4.43% 4.89% 0.00% 0.00% - 5.43% 4.74% 4.75% - 4.14%
Return on Common Equity (ROCE)
13.31% 12.13% 12.96% 0.00% 0.00% - 14.05% 24.65% 11.69% - 10.32%
Return on Equity Simple (ROE_SIMPLE)
7.76% 0.00% 9.73% 0.00% 0.00% - 11.32% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)
31 27 31 31 40 29 34 32 30 23 26
NOPAT Margin
6.27% 5.74% 6.11% 6.11% 7.67% - 7.05% 6.64% 6.38% - 5.97%
Net Nonoperating Expense Percent (NNEP)
1.24% 1.07% 1.08% 0.00% 1.45% - 1.61% 3.57% 1.43% - 1.28%
Return On Investment Capital (ROIC_SIMPLE)
- 2.02% - - - 2.05% 2.32% 2.15% 2.00% 1.62% 1.78%
Cost of Revenue to Revenue
64.50% 63.46% 64.32% 64.32% 62.87% - 62.04% 62.67% 62.43% - 61.86%
SG&A Expenses to Revenue
26.23% 25.79% 24.82% 24.82% 25.69% - 27.05% 25.84% 26.27% - 27.16%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue
29.13% 28.83% 27.40% 27.40% 28.23% - 30.08% 28.92% 29.31% - 30.17%
Earnings before Interest and Taxes (EBIT)
35 39 42 42 45 38 37 38 39 29 34
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
49 54 56 56 58 51 52 53 53 43 47
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.53 2.74 2.95 0.00 3.20 - 1.62 1.56 1.67 - 1.16
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Price to Revenue (P/Rev)
1.16 1.28 1.40 1.39 0.00 - 0.78 0.79 0.89 - 0.65
Price to Earnings (P/E)
32.66 30.43 30.29 28.00 0.00 - 14.28 14.47 17.30 - 13.31
Dividend Yield
0.47% 0.42% 0.38% 0.38% 0.34% - 0.66% 0.66% 0.60% - 0.86%
Earnings Yield
3.06% 3.29% 3.30% 3.57% 0.00% - 7.00% 6.91% 5.78% - 7.51%
Enterprise Value to Invested Capital (EV/IC)
1.96 2.18 2.33 0.00 2.54 - 1.41 1.39 1.48 - 1.11
Enterprise Value to Revenue (EV/Rev)
1.43 1.50 1.62 0.00 0.00 - 1.02 1.01 1.10 - 0.87
Enterprise Value to EBITDA (EV/EBITDA)
15.58 14.97 15.58 0.00 0.00 - 9.48 9.36 10.14 - 8.05
Enterprise Value to EBIT (EV/EBIT)
23.77 21.64 21.81 0.00 0.00 - 12.65 12.66 13.95 - 11.31
Enterprise Value to NOPAT (EV/NOPAT)
26.87 26.04 26.91 0.00 0.00 - 15.34 14.91 17.02 - 14.27
Enterprise Value to Operating Cash Flow (EV/OCF)
13.94 19.35 20.25 0.00 19.41 - 13.84 14.34 13.11 - 9.19
Enterprise Value to Free Cash Flow (EV/FCFF)
13.17 16.99 17.34 0.00 0.00 - 33.35 0.00 22.92 - 10.51
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.61 0.48 0.47 0.00 0.44 - 0.53 0.47 0.45 - 0.43
Long-Term Debt to Equity
0.59 0.46 0.46 0.00 0.43 - 0.53 0.47 0.45 - 0.43
Financial Leverage
0.72 0.56 0.58 0.00 0.52 - 0.49 0.45 0.42 - 0.44
Leverage Ratio
2.43 2.32 2.28 0.00 2.18 - 2.13 2.07 2.07 - 2.06
Compound Leverage Factor
1.69 1.76 1.86 0.00 1.84 - 1.71 1.62 1.65 - 1.66
Debt to Total Capital
38.03% 32.62% 32.13% 0.00% 30.63% - 34.60% 32.07% 30.93% - 29.85%
Short-Term Debt to Total Capital
1.61% 1.91% 0.89% 0.00% 0.98% - 0.00% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital
36.42% 30.71% 31.24% 0.00% 29.65% - 34.60% 32.07% 30.93% - 29.85%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital
61.97% 67.38% 67.87% 0.00% 69.37% - 65.40% 67.93% 69.07% - 70.15%
Debt to EBITDA
3.05 2.26 2.16 0.00 0.00 - 2.36 2.20 2.20 - 2.24
Net Debt to EBITDA
3.00 2.21 2.14 0.00 0.00 - 2.25 2.08 1.95 - 1.97
Long-Term Debt to EBITDA
2.92 2.12 2.10 0.00 0.00 - 2.36 2.20 2.20 - 2.24
Debt to NOPAT
5.25 3.92 3.73 0.00 0.00 - 3.83 3.51 3.69 - 3.97
Net Debt to NOPAT
5.18 3.84 3.69 0.00 0.00 - 3.65 3.31 3.28 - 3.49
Long-Term Debt to NOPAT
5.03 3.69 3.62 0.00 0.00 - 3.83 3.51 3.69 - 3.97
Altman Z-Score
2.76 2.98 3.25 0.00 0.00 - 2.56 2.57 2.63 - 2.41
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.29 1.07 1.19 0.00 1.21 - 1.34 1.29 1.41 - 1.48
Quick Ratio
0.60 0.51 0.54 0.00 0.54 - 0.63 0.56 0.59 - 0.69
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
140 88 97 1,509 74 -5.38 -38 -1,414 -2.36 25 66
Operating Cash Flow to CapEx
541.97% 2,394.78% -191.37% 1,173.75% 0.00% - -956.95% 903.60% 853.71% - -111.02%
Free Cash Flow to Firm to Interest Expense
13.26 9.20 12.65 195.94 10.23 - -5.18 -167.91 -0.30 - 9.79
Operating Cash Flow to Interest Expense
2.43 11.20 -1.30 7.87 0.00 - -4.50 6.17 6.02 - -0.47
Operating Cash Flow Less CapEx to Interest Expense
1.98 10.74 -1.98 7.20 0.00 - -4.97 5.49 5.31 - -0.89
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.93 0.96 0.98 0.00 0.00 - 0.99 0.95 0.93 - 0.88
Accounts Receivable Turnover
7.89 8.97 9.26 0.00 0.00 - 9.04 9.29 8.65 - 7.66
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover
23.91 24.34 25.25 0.00 0.00 - 29.62 31.84 29.60 - 30.64
Accounts Payable Turnover
10.01 9.36 11.62 0.00 0.00 - 10.95 10.04 9.29 - 10.63
Days Sales Outstanding (DSO)
46.27 40.70 39.43 0.00 0.00 - 40.39 39.29 42.22 - 47.68
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)
36.45 38.99 31.40 0.00 0.00 - 33.35 36.36 39.31 - 34.33
Cash Conversion Cycle (CCC)
9.83 1.71 8.03 0.00 0.00 - 7.04 2.93 2.91 - 13.35
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
1,434 1,352 1,385 0.00 1,400 1,387 1,457 1,446 1,432 1,385 1,418
Invested Capital Turnover
1.32 1.42 1.40 0.00 0.00 - 1.42 2.74 1.36 - 1.27
Increase / (Decrease) in Invested Capital
-109 -60 -66 -1,478 -34 34 72 1,446 32 -1.53 -40
Enterprise Value (EV)
2,805 2,948 3,223 0.00 3,552 - 2,055 2,005 2,118 - 1,579
Market Capitalization
2,264 2,514 2,782 2,767 3,128 - 1,567 1,560 1,710 - 1,193
Book Value per Share
$47.48 $48.76 $50.34 $0.00 $52.05 $52.36 $52.55 $54.34 $55.57 $55.79 $56.47
Tangible Book Value per Share
($22.81) ($21.09) ($18.90) $0.00 ($16.80) ($20.15) ($20.88) ($18.92) ($17.19) ($16.56) ($16.04)
Total Capital
1,442 1,362 1,390 0.00 1,407 1,405 1,482 1,473 1,483 1,438 1,471
Total Debt
548 444 447 0.00 431 423 513 472 459 410 439
Total Long-Term Debt
525 418 434 0.00 417 423 513 472 459 410 439
Net Debt
540 435 442 0.00 423 404 489 445 408 357 386
Capital Expenditures (CapEx)
4.74 4.46 5.23 5.17 0.00 5.87 3.45 5.75 5.54 6.91 2.83
Debt-free, Cash-free Net Working Capital (DFCFNWC)
124 45 80 0.00 91 24 105 86 115 57 116
Debt-free Net Working Capital (DFNWC)
131 55 85 0.00 99 43 129 113 166 110 169
Net Working Capital (NWC)
108 29 73 0.00 85 43 129 113 166 110 169
Net Nonoperating Expense (NNE)
7.71 5.30 5.65 5.65 6.97 4.28 7.51 7.95 5.94 5.96 5.59
Net Nonoperating Obligations (NNO)
540 435 442 0.00 423 404 489 445 408 357 386
Total Depreciation and Amortization (D&A)
15 15 14 13 13 13 15 15 14 14 13
Debt-free, Cash-free Net Working Capital to Revenue
6.31% 2.32% 4.02% 0.00% 0.00% - 5.23% 4.34% 5.95% - 6.38%
Debt-free Net Working Capital to Revenue
6.71% 2.80% 4.26% 0.00% 0.00% - 6.42% 5.70% 8.60% - 9.30%
Net Working Capital to Revenue
5.52% 1.47% 3.64% 0.00% 0.00% - 6.42% 5.70% 8.60% - 9.30%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.26 $1.18 $1.37 $0.00 $1.74 $1.31 $1.45 $1.29 $1.29 $0.94 $1.12
Adjusted Weighted Average Basic Shares Outstanding
18.82M 18.80M 18.74M 0.00 18.76M 18.75M 18.51M 18.40M 18.43M 18.41M 18.24M
Adjusted Diluted Earnings per Share
$1.25 $1.16 $1.36 $0.00 $1.73 $1.29 $1.44 $1.28 $1.28 $0.95 $1.12
Adjusted Weighted Average Diluted Shares Outstanding
18.97M 18.99M 18.86M 0.00 18.91M 18.93M 18.61M 18.46M 18.53M 18.52M 18.35M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
18.82M 18.72M 18.76M 0.00 18.76M 18.44M 18.41M 18.43M 18.44M 18.27M 18.10M
Normalized Net Operating Profit after Tax (NOPAT)
31 27 31 31 40 29 34 32 30 23 26
Normalized NOPAT Margin
6.27% 5.74% 6.11% 6.11% 7.67% - 7.05% 6.64% 6.38% - 5.97%
Pre Tax Income Margin
4.80% 6.23% 6.78% 6.78% 7.34% - 6.15% 6.29% 6.61% - 6.26%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
3.28 4.12 5.51 5.51 6.27 - 5.09 4.56 4.91 - 5.08
NOPAT to Interest Expense
2.98 2.88 4.06 4.06 5.51 - 4.68 3.75 3.78 - 3.89
EBIT Less CapEx to Interest Expense
2.83 3.66 4.83 4.84 0.00 - 4.62 3.87 4.21 - 4.66
NOPAT Less CapEx to Interest Expense
2.53 2.41 3.38 3.39 0.00 - 4.21 3.07 3.07 - 3.47
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
15.20% 12.75% 11.47% 10.65% 0.00% - 9.56% 9.70% 10.52% - 12.07%
Augmented Payout Ratio
45.08% 35.85% 40.46% 40.11% 0.00% - 61.30% 62.10% 67.47% - 52.29%

Financials Breakdown Chart

Key Financial Trends

ICF International (NASDAQ: ICFI) has delivered a set of quarterly results that show solid operating cash flow and stable margins, but with a year-end 2025 topline that trended lower versus the start of the year. Below are the 10 most impactful takeaways from the last four years of quarterly statements, focusing on trends and indicators retail investors typically monitor.

  • Strong quarterly operating cash flow in Q4 2025: Net cash from continuing operating activities was about $75.6 million, highlighting solid cash generation even as revenue softened later in 2025.
  • Stable gross margins in 2025: Gross margin hovered around 35%–38% across the quarters (example: Q4 2025 gross profit of $158.35M on $443.67M revenue, ~35.7% margin), indicating consistent pricing and cost control.
  • Healthy liquidity on the balance sheet: As of Q3 2025, current assets were $568.98M vs. current liabilities $403.38M, implying a current ratio near 1.41x.
  • Positive net income to common shareholders across 2025: Net income attributable to common shareholders remained positive in each quarter, with Q4 2025 at about $19.63M (versus higher earlier in the year), signaling ongoing profitability.
  • Access to capital markets in 2025: The company issued debt in multiple 2025 quarters (e.g., Q4 2025 +$308.8M; Q3 2025 +$296.2M; Q2 2025 +$248.0M), showing financing flexibility when needed.
  • Debt and equity base remains balanced: Total equity around $1.0B and total liabilities near $1.08–1.14B across 2025 quarters, suggesting a roughly balanced leverage profile rather than heavy indebtedness.
  • Consistent operating expenses components: SG&A and depreciation/ amortization figures stayed steady (SG&A roughly $115–$122M in 2025; depreciation around $14–15M per quarter), indicating predictable cost structure.
  • Revenue declined modestly through 2025: Operating revenue fell from about $487.6M in Q1 2025 to $443.7M in Q4 2025, suggesting seasonality or a softer demand environment in late 2025.
  • Net income trend compression in Q4 2025: Net income to common shareholders declined to about $19.63M in Q4 2025 from $26.85M in Q1 2025 and roughly $23–24M in mid-2025, indicating margin/contribution pressure in the year-end period.
05/14/26 05:12 PM ETAI Generated. May Contain Errors.

ICF International Financials - Frequently Asked Questions

According to the most recent income statement we have on file, ICF International's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

ICF International's net income appears to be on an upward trend, with a most recent value of $91.59 million in 2025, rising from $39.37 million in 2015. The previous period was $110.17 million in 2024. Find out what analysts predict for ICF International in the coming months.

ICF International's total operating income in 2025 was $145.47 million, based on the following breakdown:
  • Total Gross Profit: $696.02 million
  • Total Operating Expenses: $550.55 million

Over the last 10 years, ICF International's total revenue changed from $1.13 billion in 2015 to $1.87 billion in 2025, a change of 65.4%.

ICF International's total liabilities were at $1.02 billion at the end of 2025, a 5.7% decrease from 2024, and a 83.4% increase since 2015.

In the past 10 years, ICF International's cash and equivalents has ranged from $4.96 million in 2024 to $13.84 million in 2020, and is currently $5.30 million as of their latest financial filing in 2025.

Over the last 10 years, ICF International's book value per share changed from 27.22 in 2015 to 55.79 in 2025, a change of 104.9%.



Financial statements for NASDAQ:ICFI last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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