ICF International Inc (ICFI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of ICF International Inc $96.16, price $83.68, upside +14.9%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch ICF International Inc for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $59.78 – $174.02 · fair‑value band $54.39 – $132.80 · the $83.68 price screens below the $96.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
Follow ICF International in your weekly email
Every Wednesday you see whether ICF International is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
ICF International, Inc. provides management, technology, and policy consulting and implementation services to government and commercial clients in the United States and internationally.
Show more
ICF International, Inc. provides management, technology, and policy consulting and implementation services to government and commercial clients in the United States and internationally. The Company provides consulting and technology services across several key domains, such as strategy and public policy; energy and environmental sustainability; and climate resilience; digital transformation including information technology; modernization, cloud, cybersecurity, and data analytics; health and social programs including public health and education; international development and capacity building; disaster management and recovery planning; transportation, aviation, and infrastructure; and marketing and strategic communications. The company serves energy, environment, infrastructure, and disaster recovery; health and social programs; and security and other civilian and commercial markets; U.S. federal government departments and agencies, local government departments and agencies, international governments, and commercial clients. The company was formerly known as ICF Consulting Group Holdings, LLC and changed its name to ICF International, Inc. in 2006. ICF International, Inc. was founded in 1969 and is headquartered in Reston, Virginia.
Stock analysis
ICF International Inc (ICFI) currently trades at $83.68, while our model-based Fair Value estimate is $96.16, implying the stock looks roughly 13.0% undervalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of $89.50 per share, and 14 of the 24 models we run sit above the $83.68 price.
Bear case: the Asset-Based group reads lowest at $38.06, and 10 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $54.39 (bear) to $132.80 (bull), the price of $83.68 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
ICF International Inc reported revenue of $1.9B in FY2025 versus $1.6B in FY2021, a compound +4.8%/yr. Reported net income was $91.6M in FY2025, compounding +6.5%/yr from FY2021.
Key figures
Market cap $1.5B · P/E ratio 18.1 · P/S ratio 0.88 · EPS (TTM) $4.63 · Dividend yield 0.7% · Net margin 4.9% · Return on equity 8.5% · Return on assets (EBIT) 6.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 13% below its 52-week high and 40% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 0% fair-value upside, at 15%, ICFI screens cheaper than that median.
Fair Value models
Bear $54.39Fair Value $96.16Bull $132.80
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($2.98 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−7.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Start year 2020 (pandemic). Over 10 years: +5.2% a year
Revenue growth 24 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.5%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+7.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.8%
Dividend (yield on the price)0.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7% vs 10%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.6% → 8%
Start year 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +3.9% a year for the price and +1.7% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Consulting Services · 84 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+15% · Above median
Profitability
Return on equity (TTM)9% · Below median
Return on assets4% · Below median
Net margin (TTM)5% · Below median
Operating margin (TTM)8% · Above median
Growth and dividend
Revenue growth−10% · Bottom 25%
Dividend yield (TTM)0.7% · Bottom 25%
Balance sheet
Debt / equity0.39× · Above median
Valuation Multiplesvs Consulting Services median · lower = cheaper
P/E (TTM)18.1× · Cheaper than median
P/B1.50× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ICF International Inc Fair Value". https://www.fairvalue-calculator.com/stock/ICFI
Frequently asked questions
Is ICF International Inc (ICFI) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $96.16 versus a price of $83.68, about +15% upside (undervalued).
What is the fair value of ICFI?
Our model-based fair value for ICF International Inc is $96.16 (as of Sep 23, 2026), built from audited fundamentals. The current price: $83.68.
What is the quality score of ICFI?
ICF International Inc has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ICF International Inc (ICFI)?
Our model-based price target is the fair value of $96.16 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario $54.39, optimistic scenario $132.80. It is a calculation from audited fundamentals, not an analyst target.
What is the ICF International Inc stock forecast for 2026?
Our models put fair value at $96.16, about +15% upside versus a price of $83.68 (undervalued). Cautious scenario $54.39, optimistic scenario $132.80. The calculation is refreshed regularly with new filings.
What is the revenue of ICF International Inc (ICFI)?
ICF International Inc reported trailing-twelve-month revenue of about $1.8B (latest available figure, as of Sep 23, 2026).
Does ICF International Inc pay a dividend?
ICF International Inc currently shows a dividend yield of about 0.67% relative to its recent price (as of Sep 23, 2026).
What growth is priced into ICF International Inc (ICFI)?
For today's price to be fair in a discounted-cash-flow model, ICF International Inc would have to grow free cash flow by +6.4 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of ICFI use?
Our models discount ICF International Inc at 10.0 %: a base by market capitalisation (small), damped by beta 0.54, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ICF International Inc that is +6.4 % per year a year over ten years, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has ICF International Inc (ICFI) delivered so far?
Over the past 5 years revenue at ICF International Inc grew +4.4 % a year. The price currently implies +6.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ICF International Inc (ICFI) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into ICF International Inc (+6.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ICF International Inc (ICFI)?
The free-cash-flow yield on the price is 7.80 %: that much free cash flow ICF International Inc produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ICF International Inc (ICFI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ICF International Inc it is $96.16 per share (as of Sep 23, 2026), against a price of $83.68. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is ICF International Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, ICFI trades below its calculated fair value: price $83.68, fair value $96.16, a gap of about +15% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ICFI?
No. The price is what the market pays today ($83.68); the fair value is what the company's own numbers justify ($96.16). For ICF International Inc the two are $12.48 per share apart. That gap is exactly why we show both numbers side by side.
How much is ICF International Inc worth?
The market values ICF International Inc at about $1.5B (market capitalisation, as of Sep 23, 2026). Per share that is $83.68; our models calculate a fair value of $96.16 per share.
What do the bullish and bearish scenarios say about ICFI?
Our models span a range for ICF International Inc: cautious scenario $54.39, base $96.16, optimistic $132.80 per share (as of Sep 23, 2026, price $83.68). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ICFI?
ICF International Inc trades at a price-to-earnings ratio of 18.1 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $96.16 is built from several models across several years. Other multiples: PEG 1.9, P/B 1.5, P/S 0.8, EV/EBITDA 9.8.
What is the PEG ratio of ICFI?
The PEG ratio of ICF International Inc is 1.88 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of ICF International Inc (ICFI)?
Balance-sheet figures for ICF International Inc (as of Sep 23, 2026): return on equity 8.5%, debt of 0.39 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is ICFI from its 52-week high?
ICF International Inc trades at $83.68, about 13% below its 52-week high of $96.68 and 40% above the low of $59.78 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $96.16 is for.
Which stocks are comparable to ICF International Inc?
From the same area (Industrials) we also value Verisk Analytics, Inc, SGS SA, Equifax Inc, Bureau Veritas SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ICF International Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $83.68, calculated fair value $96.16 (+15%), Quality Score 60/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ICFI calculated?
We run ICF International Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $96.16, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. ICF International Inc currently trades 15 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ICF International Inc (ICFI)?
The closing price on Sep 23, 2026 was $83.68. Our model-based fair value is $96.16, about +15% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ICF International Inc right now?
A fairly wide model range ($54.39 to $132.80) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of ICF International Inc (ICFI) come from?
Earnings per share at ICF International Inc grew +10.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.9 %, EBIT margin +1.4 %, tax rate +3.1 %, residual (interest, one-offs) −1.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of ICF International Inc
How large is the market capitalisation of ICF International Inc (ICFI)?
The market capitalisation of ICF International Inc is $1.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ICF International Inc (ICFI)?
The price-to-sales ratio of ICF International Inc is 0.88 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ICF International Inc (ICFI)?
Earnings per share at ICF International Inc are $4.63 (price ÷ EPS = P/E 18.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ICF International Inc (ICFI)?
The dividend yield of ICF International Inc is 0.7% (payout 12.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ICF International Inc (ICFI)?
The net margin of ICF International Inc is 4.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ICF International Inc (ICFI)?
The return on equity (ROE) of ICF International Inc is 8.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ICF International Inc (ICFI)?
On an EBIT basis the return on assets of ICF International Inc is 6.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ICF International Inc (ICFI)?
The operating margin of ICF International Inc is 8.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ICF International Inc (ICFI)?
Revenue at ICF International Inc is growing −10.3% versus a year earlier (3y avg +1.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ICF International Inc (ICFI)?
Earnings per share at ICF International Inc are growing −22.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ICF International Inc (ICFI) carry?
The net debt of ICF International Inc is $566M (fiscal year 2025, ≈ 4.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch ICF International Inc in the live analysis
One click puts ICF International Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Broad data
Sep 23, 2026