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ICF International, Inc.

ICFI Clue Score56
United States Fiscal year ends December CIK 0001362004
$87.55 +0.84% Close, 9 Oct 2026
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Price $87.55 −9.44% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1,185.1Operating income82.8Net income46.6EPS, diluted2.40Fiscal year 2017Revenue1,229.2 +3.7%Operating income82.4Net income62.9 +35.0%EPS, diluted3.27 +36.3%Fiscal year 2018Revenue1,338.0 +8.9%Operating income92.3Net income61.4 −2.3%EPS, diluted3.18 −2.8%Fiscal year 2019Revenue1,478.5 +10.5%Operating income101.4Net income68.9 +12.3%EPS, diluted3.59 +12.9%Fiscal year 2020Revenue1,506.9 +1.9%Operating income89.1Net income55.0 −20.3%EPS, diluted2.87 −20.1%Fiscal year 2021Revenue1,553.0 +3.1%Operating income110.9Net income71.1 +29.4%EPS, diluted3.72 +29.6%Fiscal year 2022Revenue1,780.0 +14.6%Operating income108.8Net income64.2 −9.7%EPS, diluted3.38 −9.1%Fiscal year 2023Revenue1,963.2 +10.3%Operating income132.3Net income82.6 +28.6%EPS, diluted4.35 +28.7%Fiscal year 2024Revenue2,019.8 +2.9%Operating income165.8Net income110.2 +33.4%EPS, diluted5.82 +33.8%Fiscal year 2025Revenue1,872.9 −7.3%Operating income145.5Net income91.6 −16.9%EPS, diluted4.95 −14.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1,185.1 1,229.2 1,338.0 1,478.5 1,506.9 1,553.0 1,780.0 1,963.2 2,019.8 1,872.9
Growth +3.7% +8.9% +10.5% +1.9% +3.1% +14.6% +10.3% +2.9% −7.3%
Operating income 82.8 82.4 92.3 101.4 89.1 110.9 108.8 132.3 165.8 145.5
Net income 46.6 62.9 61.4 68.9 55.0 71.1 64.2 82.6 110.2 91.6
Growth +35.0% −2.3% +12.3% −20.3% +29.4% −9.7% +28.6% +33.4% −16.9%
EPS, diluted 2.40 3.27 3.18 3.59 2.87 3.72 3.38 4.35 5.82 4.95
Growth +36.3% −2.8% +12.9% −20.1% +29.6% −9.1% +28.7% +33.8% −14.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin7.0%Net margin3.9%Free cash flow margin5.6%Fiscal year 2017Operating margin6.7%Net margin5.1%Free cash flow margin8.4%Fiscal year 2018Operating margin6.9%Net margin4.6%Free cash flow margin4.0%Fiscal year 2019Operating margin6.9%Net margin4.7%Free cash flow margin4.4%Fiscal year 2020Operating margin5.9%Net margin3.6%Free cash flow margin10.3%Fiscal year 2021Operating margin7.1%Net margin4.6%Free cash flow margin5.8%Fiscal year 2022Operating margin6.1%Net margin3.6%Free cash flow margin7.7%Fiscal year 2023Operating margin6.7%Net margin4.2%Free cash flow margin6.6%Fiscal year 2024Operating margin8.2%Net margin5.5%Free cash flow margin7.4%Fiscal year 2025Operating margin7.8%Net margin4.9%Free cash flow margin6.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 7.0% 6.7% 6.9% 6.9% 5.9% 7.1% 6.1% 6.7% 8.2% 7.8%
Net margin 3.9% 5.1% 4.6% 4.7% 3.6% 4.6% 3.6% 4.2% 5.5% 4.9%
Free cash flow margin 5.6% 8.4% 4.0% 4.4% 10.3% 5.8% 7.7% 6.6% 7.4% 6.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow80.1Capital expenditure−13.8Free cash flow66.3Fiscal year 2017Operating cash flow117.2Capital expenditure−14.5Free cash flow102.7 +54.9%Fiscal year 2018Operating cash flow74.7Capital expenditure−21.8Free cash flow52.9 −48.5%Dividends paid−7.9Fiscal year 2019Operating cash flow91.4Capital expenditure−26.9Free cash flow64.5 +22.1%Dividends paid−10.5Fiscal year 2020Operating cash flow173.1Capital expenditure−17.7Free cash flow155.5 +140.9%Dividends paid−10.6Fiscal year 2021Operating cash flow110.2Capital expenditure−19.9Free cash flow90.3 −41.9%Dividends paid−10.6Fiscal year 2022Operating cash flow162.2Capital expenditure−24.5Free cash flow137.7 +52.6%Dividends paid−10.5Fiscal year 2023Operating cash flow152.4Capital expenditure−22.3Free cash flow130.0 −5.6%Dividends paid−10.5Fiscal year 2024Operating cash flow171.5Capital expenditure−21.4Free cash flow150.1 +15.4%Dividends paid−10.5Fiscal year 2025Operating cash flow141.9Capital expenditure−21.7Free cash flow120.2 −19.9%Dividends paid−10.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 80.1 117.2 74.7 91.4 173.1 110.2 162.2 152.4 171.5 141.9
Capital expenditure −13.8 −14.5 −21.8 −26.9 −17.7 −19.9 −24.5 −22.3 −21.4 −21.7
Free cash flow 66.3 102.7 52.9 64.5 155.5 90.3 137.7 130.0 150.1 120.2
Growth +54.9% −48.5% +22.1% +140.9% −41.9% +52.6% −5.6% +15.4% −19.9%
Dividends paid n/a n/a −7.9 −10.5 −10.6 −10.6 −10.5 −10.5 −10.5 −10.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash6.0Total debt259.4Net cash (debt)−253.3Shareholders’ equity566.0Debt to equity0.46Fiscal year 2017Cash11.8Total debt206.3Net cash (debt)−194.4Shareholders’ equity616.0Debt to equity0.33Fiscal year 2018Cash11.7Total debt200.4Net cash (debt)−188.7Shareholders’ equity660.4Debt to equity0.30Fiscal year 2019Cash6.5Total debt164.3Net cash (debt)−157.8Shareholders’ equity714.6Debt to equity0.23Fiscal year 2020Cash13.8Total debt313.2Net cash (debt)−299.4Shareholders’ equity747.0Debt to equity0.42Fiscal year 2021Cash8.3Total debt421.6Net cash (debt)−413.4Shareholders’ equity803.5Debt to equity0.52Fiscal year 2022Cash11.3Total debt556.3Net cash (debt)−545.1Shareholders’ equity853.2Debt to equity0.65Fiscal year 2023Cash6.4Total debt430.4Net cash (debt)−424.0Shareholders’ equity917.6Debt to equity0.47Fiscal year 2024Cash5.0Total debt411.7Net cash (debt)−406.8Shareholders’ equity982.5Debt to equity0.42Fiscal year 2025Cash5.3Total debt401.4Net cash (debt)−396.1Shareholders’ equity1,028.5Debt to equity0.39
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 6.0 11.8 11.7 6.5 13.8 8.3 11.3 6.4 5.0 5.3
Total debt 259.4 206.3 200.4 164.3 313.2 421.6 556.3 430.4 411.7 401.4
Net cash (debt) −253.3 −194.4 −188.7 −157.8 −299.4 −413.4 −545.1 −424.0 −406.8 −396.1
Shareholders’ equity 566.0 616.0 660.4 714.6 747.0 803.5 853.2 917.6 982.5 1,028.5
Debt to equity 0.46 0.33 0.30 0.23 0.42 0.52 0.65 0.47 0.42 0.39

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
7.0% 6.7% 6.9% 6.9% 5.9% 7.1% 6.1% 6.7% 8.2% 7.8%
6.3% 6.0% 6.2% 6.1% 5.0% 6.4% 4.7% 4.9% 6.8% 6.0%
3.9% 5.1% 4.6% 4.7% 3.6% 4.6% 3.6% 4.2% 5.5% 4.9%
5.6% 8.4% 4.0% 4.4% 10.3% 5.8% 7.7% 6.6% 7.4% 6.4%
Spending
27.7% 28.2% 27.0% 26.8% 27.3% 27.7% 27.4% 25.7% 25.7% 26.3%
1.2% 1.2% 1.6% 1.8% 1.2% 1.3% 1.4% 1.1% 1.1% 1.2%
37.5% 15.0% 25.9% 23.5% 26.4% 28.9% 23.5% 14.4% 20.2% 18.2%
Returns
8.2% 10.2% 9.3% 9.6% 7.4% 8.9% 7.5% 9.0% 11.2% 8.9%
4.3% 5.7% 5.1% 4.9% 3.3% 3.8% 3.1% 4.1% 5.3% 4.5%
Balance and payout
0.46 0.33 0.30 0.23 0.42 0.52 0.65 0.47 0.42 0.39
47.9% 44.5% 45.6% 48.8% 55.2% 56.6% 59.2% 54.4% 52.5% 49.8%
n/a n/a 12.9% 15.3% 19.2% 14.9% 16.4% 12.8% 9.5% 11.3%
n/a n/a 15.0% 16.3% 6.8% 11.7% 7.7% 8.1% 7.0% 8.6%