ICF International, Inc.

NasdaqGS:ICFI Stock Report

Market Cap: US$1.1b

ICF International Future Growth

Future criteria checks 1/6

ICF International is forecast to grow earnings and revenue by 14.5% and 5.7% per annum respectively while EPS is expected to grow by 24.7% per annum.

Key information

14.5%

Earnings growth rate

24.67%

EPS growth rate

Professional Services earnings growth15.4%
Revenue growth rate5.7%
Future return on equityn/a
Analyst coverage

Low

Last updated15 May 2026

Recent future growth updates

Recent updates

Narrative Update • May 07

ICFI: Federal And State Contract Wins Will Support Future Upside Potential

Analysts have maintained the price target for ICF International at $124, reflecting slightly adjusted assumptions for discount rate, revenue, profit margin, and future P/E based on updated views on the company. What's in the News ICF received a position on a new five-year multiple award blanket purchase agreement from the U.S. Defense Counterintelligence and Security Agency for software engineering services to modernize National Background Investigation Services systems, with a total ceiling of US$800 million across 12 vendors (Key Developments).
Narrative Update • Apr 22

ICFI: Federal And State Contracts Will Drive Stronger Long Term Upside

Analysts have kept their price target for ICF International steady at $80.00, citing only modest changes to discount rate, revenue growth, profit margin, and future P/E assumptions that leave their overall valuation view broadly unchanged. What's in the News Defense Counterintelligence and Security Agency awarded ICF a position on a new multiple award blanket purchase agreement for software engineering services to modernize National Background Investigation Services systems, a five year vehicle with an $800 million ceiling across 12 awardees, where ICF can compete for task orders using cloud native design, zero trust architecture, open source technologies, agile DevSecOps, AI and automation (Client announcement).
Narrative Update • Apr 08

ICFI: New Contracts And Buybacks Will Support Future Upside Potential

Analysts have raised their price target on ICF International by $8 to $124, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. Analyst Commentary Recent Street research around ICF International points to a constructive tone, with the latest price target revision to $124 reflecting updated thinking on discount rates, revenue growth, profit margins, and future P/E assumptions.
Narrative Update • Mar 25

ICFI: Contract Wins And Guidance Will Support Stronger Long Term Upside

Analysts have adjusted their price target on ICF International by $2, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E, which they view as consistent with the latest Street research. Analyst Commentary While the latest research includes a price target adjustment that reflects refreshed assumptions around valuation inputs, not all commentary is upbeat.
Narrative Update • Mar 10

ICFI: Future Contract Wins And Buybacks Will Support Upside Potential

Analysts now see fair value for ICF International at about $124, down from $133, reflecting updated views on discount rates, revenue growth, profit margins, and a lower assumed future P/E multiple informed in part by recent Street research such as Truist's price target revision. Analyst Commentary Recent Street research on ICF International has centered on updated valuation work, which has informed both the new fair value estimate of about $124 and changes to individual price targets such as the recent revision highlighted in the Truist report.
Narrative Update • Feb 24

ICFI: Recent Contract Wins Will Support Future Risk Adjusted Earnings Trajectory

Analysts have raised their price target on ICF International by $8, reflecting updated assumptions for the discount rate and long-term P/E, while keeping fair value estimates broadly in line with prior views. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target as better aligning the stock with their updated long term P/E assumptions, suggesting they view current valuation as reasonable relative to their revised framework.
Narrative Update • Feb 10

ICFI: Recent Contract Wins Will Support Future Execution Against Earnings Trajectory

Analysts recently nudged their price target on ICF International higher by $8, citing updated assumptions on discount rates, revenue growth, profit margins, and future P/E that still align with an unchanged fair value estimate of $108.75. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target as consistent with their updated assumptions on revenue growth and margins, suggesting the current share price still leaves room relative to their fair value work.
Narrative Update • Jan 26

ICFI: Recent Contract Wins And Earnings Resilience Will Support Future Upside

Analysts have raised their price target on ICF International by $5.50 to $108.75, citing updated assumptions for revenue growth, profitability, discount rate, and a lower future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target as consistent with updated assumptions for revenue growth and profitability.
Narrative Update • Jan 12

ICFI: Shutdown Revenue Hit Will Pressure Overvalued Shares Despite Maryland Contract

Analysts have adjusted their price target for ICF International to reflect updated assumptions around slightly lower discount rates, higher revenue growth of about 4.84% and modestly stronger profit margins of roughly 5.75%, together with a revised future P/E of about 14.51x. These factors support a refined valuation view in currency terms.
Narrative Update • Dec 26

ICFI: Future Outlook Will Balance Shutdown Pressures With Digital Contract Opportunities

Analysts have modestly raised their price target on ICF International to reflect incremental improvements in projected revenue growth, profit margins, and long term earnings multiples, which results in a slightly higher implied equity valuation in dollar terms compared with prior estimates. What's in the News ICF was selected as one of eight prime awardees on Maryland's $300 million, nine year Agile Digital Experience Product Transformation contract to modernize state and local digital services and legacy systems (Client Announcements).
Narrative Update • Dec 12

ICFI: Future Outlook Will Balance Lower Upside With Improving Profitability

Analysts have trimmed their price target on ICF International from 88.00 dollars to 82.00 dollars, citing a slightly higher discount rate that more than offsets improvements in projected revenue growth, profit margins, and a lower expected future price-to-earnings multiple. What's in the News Completed a long running share repurchase program, buying back 1,966,602 shares in total, representing about 10.46% of outstanding stock for $188.03 million, with no additional shares repurchased in the most recent quarter (company buyback update).
Analysis Article • Sep 10

Calculating The Intrinsic Value Of ICF International, Inc. (NASDAQ:ICFI)

Key Insights The projected fair value for ICF International is US$113 based on 2 Stage Free Cash Flow to Equity ICF...
Seeking Alpha • Aug 04

ICF International: Fathom Hints At AI-Driven Rerating Potential

Summary ICF International delivered mixed Q2 results, with federal revenue declines offset by strong commercial growth, especially in energy and data center projects. Despite headwinds, ICF maintained margins and is prioritizing deleveraging over shareholder returns, with limited dividend growth and cautious cash management. The new AI platform, Fathom, is promising and could drive future margin expansion, but it's too early to assume significant recurring revenue or a SaaS-like rerating. I maintain a 'Hold' rating and $88-$90 price target, seeing limited near-term upside but growing confidence in ICF’s resilience and AI-driven growth potential. Read the full article on Seeking Alpha
Analysis Article • Jul 22

ICF International (NASDAQ:ICFI) Is Looking To Continue Growing Its Returns On Capital

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...
Analysis Article • Jun 16

Earnings Working Against ICF International, Inc.'s (NASDAQ:ICFI) Share Price

When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") above 18x, you may...
Analysis Article • May 29

Shareholders May Not Be So Generous With ICF International, Inc.'s (NASDAQ:ICFI) CEO Compensation And Here's Why

Key Insights ICF International's Annual General Meeting to take place on 4th of June CEO John Wasson's total...
Analysis Article • May 13

Is ICF International, Inc. (NASDAQ:ICFI) Trading At A 33% Discount?

Key Insights Using the 2 Stage Free Cash Flow to Equity, ICF International fair value estimate is US$133 ICF...
Analysis Article • Apr 08

ICF International (NASDAQ:ICFI) Hasn't Managed To Accelerate Its Returns

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Ideally, a business will...
Analysis Article • Mar 04

ICF International, Inc. (NASDAQ:ICFI) Analysts Just Cut Their EPS Forecasts Substantially

Market forces rained on the parade of ICF International, Inc. ( NASDAQ:ICFI ) shareholders today, when the analysts...
Analysis Article • Jan 22

ICF International, Inc.'s (NASDAQ:ICFI) Intrinsic Value Is Potentially 89% Above Its Share Price

Key Insights The projected fair value for ICF International is US$252 based on 2 Stage Free Cash Flow to Equity ICF...
Analysis Article • Jan 07

ICF International (NASDAQ:ICFI) Has A Pretty Healthy Balance Sheet

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Dec 14

ICF International, Inc.'s (NASDAQ:ICFI) 25% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/ERatio

The ICF International, Inc. ( NASDAQ:ICFI ) share price has fared very poorly over the last month, falling by a...
Analysis Article • Dec 02

Here's Why We Think ICF International (NASDAQ:ICFI) Might Deserve Your Attention Today

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
Analysis Article • Nov 17

ICF International's (NASDAQ:ICFI) Returns Have Hit A Wall

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Analysis Article • Sep 20

Does ICF International (NASDAQ:ICFI) Have A Healthy Balance Sheet?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Earnings and Revenue Growth Forecasts

NasdaqGS:ICFI - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20282,186142N/AN/A1
12/31/20272,0091281321565
12/31/20261,9071101251515
3/31/20261,82385151172N/A
12/31/20251,87392120142N/A
9/30/20251,92699141162N/A
6/30/20251,977108120140N/A
3/31/20252,013110129149N/A
12/31/20242,020110150172N/A
9/30/20242,002108163183N/A
6/30/20241,98699164183N/A
3/31/20241,97494138159N/A
12/31/20231,96383130152N/A
9/30/20231,96069176201N/A
6/30/20231,92765149176N/A
3/31/20231,85063128152N/A
12/31/20221,78064138162N/A
9/30/20221,692672752N/A
6/30/20221,6196987110N/A
3/31/20221,588717598N/A
12/31/20211,5537190110N/A
9/30/20211,59972126143N/A
6/30/20211,56669153169N/A
3/31/20211,52763177193N/A
12/31/20201,50755155173N/A
9/30/20201,46962161180N/A
6/30/20201,48363129150N/A
3/31/20201,496646589N/A
12/31/20191,47969N/A91N/A
9/30/20191,46068N/A71N/A
6/30/20191,41965N/A48N/A
3/31/20191,37664N/A68N/A
12/31/20181,33861N/A75N/A
9/30/20181,28170N/A57N/A
6/30/20181,25467N/A79N/A
3/31/20181,23665N/A105N/A
12/31/20171,22963N/A117N/A
9/30/20171,19848N/A93N/A
6/30/20171,19948N/A81N/A
3/31/20171,19847N/A100N/A
12/31/20161,18547N/A80N/A
9/30/20161,17645N/A91N/A
6/30/20161,15943N/A87N/A
3/31/20161,14241N/A86N/A
12/31/20151,13239N/A76N/A
9/30/20151,12837N/A103N/A
6/30/20151,10437N/A92N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ICFI's forecast earnings growth (14.5% per year) is above the savings rate (3.5%).

Earnings vs Market: ICFI's earnings (14.5% per year) are forecast to grow slower than the US market (16.8% per year).

High Growth Earnings: ICFI's earnings are forecast to grow, but not significantly.

Revenue vs Market: ICFI's revenue (5.7% per year) is forecast to grow slower than the US market (11.7% per year).

High Growth Revenue: ICFI's revenue (5.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if ICFI's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/16 22:00
End of Day Share Price 2026/05/15 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ICF International, Inc. is covered by 14 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kevin SteinkeBarrington Research Associates, Inc.
Samuel EnglandBerenberg
Jason Ross TilchenCanaccord Genuity