ICF International Inc (ICFI) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of ICF International Inc stock $99.21, price $79.68, upside +24.5%, quality 61 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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. As of Nov 6, 2026.
How to read this chart
60‑month range $59.69 – $173.75 · fair‑value band $55.86 – $134.06 · the $79.68 price screens below the $99.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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ICF International, Inc. provides management, technology, and policy consulting and implementation services to government and commercial clients in the United States and internationally.
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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 $79.68, while our model-based Fair Value estimate is $99.21, implying the stock looks roughly 20% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $107.25 per share, and 15 of the 24 models we run sit above the $79.68 price.
Bear case: the Earnings-Based group reads lowest at $47.81, and 9 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: $55.86 (bear) to $134.06 (bull), the price of $79.68 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 61/100 (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 $1.7B Small · P/E ratio 16.5 · P/S ratio 0.94 · EPS (TTM) $4.83 · Dividend yield 0.7% · Net margin 4.9% · Return on equity 8.6% · Return on assets (EBIT) 6.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −7% fair-value upside, at 25%, ICFI screens cheaper than that median.
Fair Value models
Bear$55.86Fair Value $99.21Bull$134.06
Price $79.68 · Upside +24.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($3.65 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
In the last 6 months, one officer or director bought shares worth $491,120, on May 15, 2026. Over the same period, 2 people sold shares worth $1.7M.
SaleJohn WassonCEO & President, Director2× since Jul 13, 2026: 18,811 shares, avg. $82.88$1.6MSep 1, 202610b5-1 plan
SaleSergio J OstriaExecutive Vice President2,000 shares at $88.59$177,180Aug 26, 2026
BuyMichael J Van HandelDirector8,000 shares at $61.39$491,120May 15, 2026
BuyRandall MehlDirector2× since Nov 14, 2025: 2,100 shares, avg. $75.86$159,299Mar 6, 2026
Plus 8 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
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%
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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.6.8% vs 9.5%, 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%
Pace: the 5-year rate starts in 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).
+5.1%
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.
+4.5%
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 +2.7% a year for the price and +2.0% for the forecasts.
Price, fair value, quality and upside side by side.
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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 · 74 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside+24.5% · Above median
Profitability
Return on equity (12 months)8.6% · Below median
Return on assets4.5% · Below median
Net margin (12 months)4.9% · Below median
Operating margin (12 months)8.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)−0.3% · Below median
Dividend yield (12 months)0.7% · Bottom 25%
Balance sheet
Debt / equity0.39× · Above median
Valuation Multiplesvs Consulting Services median · lower = cheaper
P/E (12 months)16.5× · Cheaper than median
P/B1.66× · 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.
P/S (12 months)0.94× · Cheaper than median
Price / free cash flow (fiscal year)14.2× · Cheaper than median
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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 Nov 6, 2026, our model estimates a fair value of $99.21 versus a price of $79.68, about +25% upside (undervalued).
What is the fair value of ICFI?
Our model-based fair value for ICF International Inc is $99.21 (as of Nov 6, 2026), built from audited fundamentals. The current price: $79.68.
What is the quality score of ICFI?
ICF International Inc has a Quality Score of 61/100. 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 $99.21 (as of Nov 6, 2026) from 24 valuation models. Cautious scenario $55.86, optimistic scenario $134.06. 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 $99.21, about +25% upside versus a price of $79.68 (undervalued). Cautious scenario $55.86, optimistic scenario $134.06. 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 Nov 6, 2026).
Does ICF International Inc pay a dividend?
ICF International Inc currently shows a dividend yield of 0.70% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of ICF International Inc (ICFI) and when is the ex-dividend date?
ICF International Inc pays a dividend of $0.56 per share a year, a dividend yield of 0.7%. The last ex-dividend date was Sep 4, 2026. A dividend has been paid every year since at least 2018. The payout ratio is 11.6% of earnings. Free cash flow covers the dividend 11.97 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
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 +5.1 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of ICFI use?
Our models discount ICF International Inc at 9.8 %: a base by market capitalisation (small), damped by beta 0.45, 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 +5.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.8 %) 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 free-cash-flow growth of +5.1 % per 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 +7.8 % a year. That is the yardstick for the growth priced into ICF International Inc (+5.1 % per 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 8.36 %: that much free cash flow ICF International Inc produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), 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 $99.21 per share (as of Nov 6, 2026), against a price of $79.68. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is ICF International Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, ICFI trades below its calculated fair value: price $79.68, fair value $99.21, a gap of about +25% (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 ($79.68); the fair value is what the company's own numbers justify ($99.21). For ICF International Inc the two are $19.53 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 $1.7B (market capitalisation, as of Nov 6, 2026). Per share that is $79.68; our models calculate a fair value of $99.21 per share.
What do the bullish and bearish scenarios say about ICFI?
Our models span a range for ICF International Inc: cautious scenario $55.86, base $99.21, optimistic $134.06 per share (as of Nov 6, 2026, price $79.68). 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 16.5 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $99.21 is built from several models across several years. Other multiples: PEG 1.8, P/B 1.7, P/S 0.9, EV/EBITDA 10.7.
What is the PEG ratio of ICFI?
The PEG ratio of ICF International Inc is 1.81 (P/E divided by earnings growth, as of Nov 6, 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 Nov 6, 2026): return on equity 8.6%, debt of 0.39 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is ICFI from its 52-week high?
ICF International Inc trades at $79.68, about 19% below its 52-week high of $98.52 and 34% above the low of $59.69 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $99.21 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 Nov 6, 2026: price $79.68, calculated fair value $99.21 (+25%), Quality Score 61/100, 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 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $99.21 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. ICF International Inc currently trades 20% 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 Nov 6, 2026 was $79.68. Our model-based fair value is $99.21, about +25% 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?
Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($55.86 to $134.06) leaves room in how you read the outcome.
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 $1.7B. 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 0.94 (last twelve months). 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 $4.83 (price ÷ EPS = P/E 16.5). 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 11.6%). 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% (last twelve months). 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 8.6% (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 8.4% (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 −0.3% 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 +16.4% 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.
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Broad data
Nov 6, 2026