ICTS International N.V (ICTSF) fair value: what the stock is really worth
We calculate from audited financials what ICTS International N.V is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
Valuation from Jun 23, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
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Price vs Fair Value
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 $13.25 – $22.09 · the $5.89 price screens below the $17.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jun 23, 2026.
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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.
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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.
Stock analysis
ICTS International N.V (ICTSF) currently trades at $5.89, while our model-based Fair Value estimate is $17.67, implying the stock looks roughly 66.7% undervalued today.
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Valuation
How firm this estimate is: it rests on 3 models at a data quality of 80/100, which puts the evidence level at low.
Scenario range: $13.25 (bear) to $22.09 (bull), the price of $5.89 sits below 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 54/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
Key figures
Market cap $203M · P/S ratio 0.35 · EPS (TTM) $−0.4000 · Net margin −2.7% · Return on equity −24.6% · Return on assets (EBIT) 3.3% · Operating margin −2.5% · Revenue (TTM) $534M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades about 8% below its 52-week high and 90% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −13% fair-value upside, at 200%, ICTSF screens cheaper than that median.
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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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+10.6%
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.
+18.0%
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.
+16.6%
Start year 2020 (pandemic). Over 10 years: +11.1% a year
Revenue growth 25 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.
+5.3%
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Profit margin (trend) ⓘ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.
3.2% (2020) → −3.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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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.Airports & Air Services · 56 stocks
Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside+200% · Top 25%
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets−6% · Bottom 25%
Net margin (TTM)−3% · Bottom 25%
Operating margin (TTM)−2% · Bottom 25%
Growth and dividend
Revenue growth12% · Top 25%
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Airports & Air Services median · lower = cheaper
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM)0.38× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)100· sector 49
FUTURE (revenue growth)59· sector 31
PAST (return on equity)0· sector 49
HEALTH (low debt)0· sector 86
DIVIDEND (yield)0· sector 56
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
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). "ICTS International N.V Fair Value". https://www.fairvalue-calculator.com/stock/ICTSF
Frequently asked questions
Is ICTS International N.V (ICTSF) overvalued or undervalued?
As of Jun 23, 2026, our model estimates a fair value of $17.67 versus a price of $5.89, about +200% upside (undervalued).
What is the fair value of ICTSF?
Our model-based fair value for ICTS International N.V is $17.67 (as of Jun 23, 2026), built from audited fundamentals. The current price: $5.89.
What is the quality score of ICTSF?
ICTS International N.V has a Quality Score of 54/100. 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 ICTS International N.V (ICTSF)?
Our model-based price target is the fair value of $17.67 (as of Jun 23, 2026) from 3 valuation models. Cautious scenario $13.25, optimistic scenario $22.09. It is a calculation from audited fundamentals, not an analyst target.
What is the ICTS International N.V stock forecast for 2026?
Our models put fair value at $17.67, about +200% upside versus a price of $5.89 (undervalued). Cautious scenario $13.25, optimistic scenario $22.09. The calculation is refreshed regularly with new filings.
What is the revenue of ICTS International N.V (ICTSF)?
ICTS International N.V reported trailing-twelve-month revenue of about $534M (latest available figure, as of Jun 23, 2026).
What is the intrinsic value of ICTS International N.V (ICTSF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ICTS International N.V it is $17.67 per share (as of Jun 23, 2026), against a price of $5.89. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is ICTS International N.V stock overvalued or undervalued in 2026?
As of Jun 23, 2026, ICTSF trades below its calculated fair value: price $5.89, fair value $17.67, a gap of about +200% (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 ICTSF?
No. The price is what the market pays today ($5.89); the fair value is what the company's own numbers justify ($17.67). For ICTS International N.V the two are $11.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is ICTS International N.V worth?
The market values ICTS International N.V at about $203M (market capitalisation, as of Jun 23, 2026). Per share that is $5.89; our models calculate a fair value of $17.67 per share.
What do the bullish and bearish scenarios say about ICTSF?
Our models span a range for ICTS International N.V: cautious scenario $13.25, base $17.67, optimistic $22.09 per share (as of Jun 23, 2026, price $5.89). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of ICTS International N.V (ICTSF)?
Balance-sheet figures for ICTS International N.V (as of Jun 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is ICTSF from its 52-week high?
ICTS International N.V trades at $5.89, about 8% below its 52-week high of $6.42 and 90% above the low of $3.10 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $17.67 is for.
Which stocks are comparable to ICTS International N.V?
From the same area (Industrials) we also value Aena S.M.E., S.A, Airports of Thailand Public Company, Grupo Aeroportuario del Pacífico, S.A., GMR Airports Limited, 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 ICTS International N.V stock attractive at the current price?
The data as of Jun 23, 2026: price $5.89, calculated fair value $17.67 (+200%), Quality Score 54/100, from 3 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 ICTSF calculated?
We run ICTS International N.V through 3 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 $17.67, 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. ICTS International N.V currently trades 200 % 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 ICTS International N.V (ICTSF)?
The closing price on Sep 23, 2026 was $5.89. Our model-based fair value is $17.67, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ICTS International N.V right now?
The price is below even our cautious bear case ($13.25). 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.
Key figures of ICTS International N.V
How large is the market capitalisation of ICTS International N.V (ICTSF)?
The market capitalisation of ICTS International N.V is $203M. 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 ICTS International N.V (ICTSF)?
The price-to-sales ratio of ICTS International N.V is 0.35 (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 ICTS International N.V (ICTSF)?
Earnings per share at ICTS International N.V are $−0.4000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ICTS International N.V (ICTSF)?
The net margin of ICTS International N.V is −2.7% (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 ICTS International N.V (ICTSF)?
The return on equity (ROE) of ICTS International N.V is −24.6% (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 ICTS International N.V (ICTSF)?
On an EBIT basis the return on assets of ICTS International N.V is 3.3% (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 ICTS International N.V (ICTSF)?
The operating margin of ICTS International N.V is −2.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ICTS International N.V (ICTSF)?
Revenue at ICTS International N.V is growing +11.7% versus a year earlier (3y avg +18.0%). 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 ICTS International N.V (ICTSF)?
Earnings per share at ICTS International N.V are growing −94.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ICTS International N.V (ICTSF) generate?
The free cash flow of ICTS International N.V is −$32.9M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Thin data
Jun 23, 2026