ICF International, Inc. (ICFI) stock analysis

P/E below its 5-year median

ICF International's P/E of 15.6 is below its own 5-year median of 26.6.

P/E below the industry

ICF International's P/E of 15.6 is below the Management and Public Relations Services median of 21.9.

EV/EBITDA below its 5-year median

ICF International's EV/EBITDA of 9.4 is below its 5-year median of 15.9.

P/B below the industry

ICF International's price-to-book of 1.37 is below the Management and Public Relations Services median of 2.31.

Trading below fair value

The share price of $82.77 is below our fair value estimate of $127.50.

Margin of safety over 20%

The price is 35.1% below fair value, more than the 20% cushion we look for.

Revenue growing under 10% a year

Revenue grew 1.7% a year over the last three fiscal years, short of the 10% we look for.

EPS growing 10%+ a year

Diluted EPS grew 13.6% a year over the last three fiscal years.

Earnings growth not accelerating

Net income grew -2.4% over the last twelve months, against a 5-year average of 10.8% a year.

Growing slower than the industry

Revenue grew -5.2% over the last twelve months; the Management and Public Relations Services median is 7.2%.

Guidance unchanged

The latest outlook (full year 2026 revenues, Aug 6, 2026) was maintained, so it neither adds nor takes away points.

Gross margin improving

Gross margin was 37.3% over the last twelve months, against 37.2% a year earlier.

Return on equity under 15%

Return on equity was 9.1% over the last twelve months and averaged 9.4% over five years; we look for 15% on both.

Return on capital under 10%

Return on invested capital was 8.2%, below the 10% that usually covers the cost of capital.

Return on equity above the industry

ICF International's return on equity of 9.1% is above the Management and Public Relations Services median of 0.4%.

Earnings grew over 5 years

Net income grew 10.8% a year on average over the last five fiscal years.

Net margin above its 5-year average

Net margin was 5.3% over the last twelve months, against a 5-year average of 4.5%.

Net margin above the industry

ICF International's net margin of 5.3% is above the Management and Public Relations Services median of 0.2%.

Low debt

Debt is 34.3% of shareholders' equity, under the 40% we consider low.

Debt falling against equity

Debt to equity fell from 41.9% five years ago to 34.3%.

Debt covered by cash flow

Operating cash flow over the last twelve months equals 55.6% of total debt.

Interest well covered

Operating income covers interest expense 5.3 times.

Short-term assets cover short-term debts

Current assets are 1.40 times current liabilities.

Bankruptcy risk in the grey zone

The Altman Z-score is 2.76; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

ICF International paid dividends worth 0.7% of the share price over the last twelve months.

Yield below Treasuries

The 0.7% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; ICF International yields 0.7%.

Dividend not cut

The dividend per share has not fallen by more than 10% in any of the last 8 fiscal years.

Covered by earnings

Dividends take 10.6% of net income.

Covered by free cash flow

Dividends take 5.5% of free cash flow.