ICTS International N.V (ICTSF) Fair Value & Analysis
Industrials · US · Market cap $189M
ICTS International N.V
ICTSF · US
Fair value as of: Jun 23, 2026
From 3 valuation models · updated 48 days ago
Fair value updated Jun 23, 2026, revised from $31.04 to $16.80 (−45.9%) since Jun 21, 2026. Share price −11.3% over the past month.
A solid business, screening 200% undervalued on our models.
What matters now
- The price is below even our cautious bear case ($12.60). The market is more pessimistic than our downside scenario.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.
How to read this chart
60‑month range $3.10 – $10.00 · fair‑value band $12.60 – $21.00 · the $5.60 price screens below the $16.80 fair value. Dashed = 300-day average. As of Jun 23, 2026.
Analysis
ICTS International N.V (ICTSF) currently trades at $5.60, while our model-based Fair Value estimate is $16.80, implying the stock looks roughly 200.0% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.
Over the trailing twelve months, ICTS International N.V generated revenue of $534M at a net margin of -2.7%. Revenue grew 11.7% year over year. It earns a return on equity of -24.6%. Fundamentals as of Jun 23, 2026
Our scenario range runs from $12.60 (bear case) to $21.00 (bull case); at $5.60, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 7% below its 52-week high and 83% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -29% fair-value upside, at 200%, ICTSF screens cheaper than that median.
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jun 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 77
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
ICTS International N.V. provides airport security and other aviation services, and authentication technology services in the Netherlands, Germany, the United States of America, Israel, Spain, and internationally.
Full company description
ICTS International N.V. provides airport security and other aviation services, and authentication technology services in the Netherlands, Germany, the United States of America, Israel, Spain, and internationally. It offers aviation security services, such as security screening, behavior detection on crowds and queues, perimeter guarding/ patrolling, CCTV surveillance and/or alarm resolution, and vehicle marshalling. It also provides above wing security services, such as security interviewing, behavior detection, and escort of valuables and weapons; and handling services. In addition, it offers below wing services, comprising ramp and door guarding, interior and exterior searches, catering and bag room guarding, and selectee search; cargo security services, which include cargo screening, explosives detection dogs, access control, services; private charter flight and cargo security screening, catering and aircraft Security Screening, aircraft search, and employee screening services; general security services, which comprise security search and screening, access control, perimeter guarding/patrolling, security host and reception, and CCTV surveillance and/or alarm resolution services; and training/consulting/auditing services. Further, it offers aviation security technology, including New Advanced Passenger Screening (NAPS), an IT-system that enables pre-departure analysis of passenger information, and X-Check and I-Check that supports airline staff, security or filtering agents with customer processing; SaaS for identity verification and fraud prevention from physical and digital ID documents; and non-security services, such as agent, guard, queue monitors, aircraft cleaning, janitorial, skycap passengers luggage, wheelchair attendant, baggage handling, cruise line baggage transfer, VIP meet and greet services, equipment for passengers, and shuttle services to airline crews. The company was founded in 1982 and is based in Schiphol, the Netherlands.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
ICTS International N.V reported revenue of $534M in FY2025 versus $325M in FY2021, a compound +13.2%/yr. Reported net income was −$14.3M in FY2025.
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Peer Group
Airports & Air Services · 55 stocks
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.
Valuation Multiples vs Airports & Air Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate (as of Jun 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Aena S.M.E., S.A AENA | €26.24 | €28.41 | +8% |
| Airports of Thailand Public Company TATD | 2.44 SGD | 1.25 SGD | -49% |
| Grupo Aeroportuario del Pacífico, S.A. PAC | $220.91 | $246.06 | +11% |
| GMR Airports Limited GMRINFRA | ₹112.80 | ₹22.29 | -80% |
| Flughafen Zürich AG FHZN | CHF 237.20 | CHF 121.30 | -49% |
| Shanghai International Airport Co 600009 | ¥24.08 | ¥17.09 | -29% |
| Auckland International Airport Limited AIA | A$7.11 | A$2.80 | -61% |
| Fraport AG FRA | €69.35 | €49.83 | -28% |
| Københavns Lufthavne A/S KBHL | kr 5,660 | kr 1,821 | -68% |
| SATS Ltd S58 | 4.82 SGD | 4.03 SGD | -16% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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