ICTS International NV (ICTSF) stock analysis
Close on Oct 19, 2026Market cap –P/E –Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Weak7 of 30 checks passed
ICTS International passes 7 of the 30 checks behind our score; 19 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 2/6
- Past performance
- 0/6
- Financial health
- 5/6
- Dividend
- 0/6
What stands out
No debt
ICTS International has no borrowings on its latest balance sheet.
Revenue growing 10%+ a year
Revenue grew 18.0% a year over the last three fiscal years.
Interest well covered
No meaningful interest expense to cover.
Debt covered by cash flow
There is no debt to cover.
What to watch
Gross margin slipping
Gross margin was 11.2% over the last twelve months, against 14.5% a year earlier.
Net margin below its 5-year average
Net margin was -2.7% over the last twelve months, against a 5-year average of 1.5%.
Net margin below the industry
ICTS International's net margin of -2.7% is below the Miscellaneous Business Services median of 3.8%.
No dividend
ICTS International has not paid a dividend in the last twelve months.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth2/6
Revenue growing 10%+ a year
Revenue grew 18.0% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 10.6% over the last twelve months; the Miscellaneous Business Services median is 9.9%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin slipping
Gross margin was 11.2% over the last twelve months, against 14.5% a year earlier.
Past performance0/6
Return on equity
Needs positive equity and five years of results.
Return on invested capital
Needs operating income and invested capital.
Return on equity against the industry
Needs positive equity.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin below its 5-year average
Net margin was -2.7% over the last twelve months, against a 5-year average of 1.5%.
Net margin below the industry
ICTS International's net margin of -2.7% is below the Miscellaneous Business Services median of 3.8%.
Financial health5/6
No debt
ICTS International has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 1.79 times current liabilities.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.
Dividend0/6
No dividend
ICTS International has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for ICTS International. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.6% | +18.0% | +16.6% | +11.1% | |
| Gross profit | -14.5% | -2.2% | +2.9% | +12.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -6.2% | -13.3% | – | |
| Return on assets | 5.2% | 3.3% | -8.2% | |
| Current ratio | 0.97 | 1.96 | 1.79 | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | – | – | – | |
| Capex to revenue | 0.5% | 0.9% | 0.3% | |
| Diluted shares | 12M | 38M | 36M |
Where the cash went
Fiscal 2021 to 2025, five years combined
ICTS International generated $100.34M from operations and spent $11.74M on capital expenditure, dividends and share buybacks. 72% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2022 | -1.5% | 1.71× | -23.50× | 58.4% |
| FY2021 | 10.7% | 1.93× | -9.26× | -191.7% |
| FY2020 | 1.8% | 1.88× | -3.99× | -13.3% |
| FY2019 | -2.4% | 3.36× | -2.81× | 22.8% |
| FY2018 | -3.3% | 4.73× | -2.37× | 36.5% |
| FY2017 | 2.0% | 5.05× | -1.96× | -19.3% |
| FY2016 | 0.9% | 5.71× | -1.18× | -6.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero-$14.35M
- Cash generatingOperating cash flow above zero-$30.99M
- Return on assets improvedROA up on the prior year-2.1% → -7.7%
- Earnings backed by cashOperating cash flow above net income-$30.99M vs -$14.35M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.04 → 1.79
- No dilutionShare count did not rise37M → 36M
- Gross margin improvedGross margin up on the prior year14.45% → 11.18%
- More efficientAsset turnover rose2.45 → 2.88
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