Value Investor
Start free

ICF International

ICFI on Nasdaq. ICF International sells consulting and technology services to governments and commercial clients. Market value $1.5bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing stood out in the numbers we check.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
13.3%very high

For every $100 of what the whole company costs, it produced $13.32 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
13.4×fair

You pay 13.4 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
7.7%five-year median

Each dollar kept in the business earns 8 cents a year. Above 10 is good.

Quality score: 77 of 100. Price score: 97 of 100. Our list needs 70 on quality and 60 on price.

$83.09 a share, 41% above its 1-year low

Over the past year the price has ranged from $58.83 to $98.03.

Dividend: 0.7% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.1
0.1
0.1
0.2
0.1
0.2
2021202220232024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: $199 million in the past 12 months, $120 million in the year to December 2025.

Revenue
$1.6bn$1.8bn$2.0bn$2.0bn$1.9bn
Operating margin
7.1%6.1%6.7%8.2%7.8%
Debt to equity
0.520.670.490.430.40
Shares outstanding
0.02bn0.02bn0.02bn0.02bn0.02bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)8 of 9
  • Profit backed by cash (accruals)Yes
  • Debt0.40× equity
  • Revenue growth, five yearsSlow, 4.4% a year
  • Buying back its own sharesYes, 5% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $474 million last quarter, about the same as a year ago.
  • Profit: $27 million, up 14% on a year ago.
  • It keeps 8 cents of each $1 of sales as operating profit, about the same as a year earlier.
  • Spare cash over the past 12 months: $199 million, up from $120 million.
  • 2% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $413 million more than cash, down from $468 million a year ago.
  • Sales did not grow on a year ago in any of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$517m
December 2024$496m
March 2025$488m
June 2025$476m
September 2025$465m
December 2025$444m
March 2026$438m
June 2026$474m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$33m
December 2024$25m
March 2025$27m
June 2025$24m
September 2025$24m
December 2025$17m
March 2026$21m
June 2026$27m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
27 February 2026
Next quarterly (estimated, 10-Q)
5 November 2026

Who owns it

3 long-term investors we follow own it, unchanged from 3 last quarter. 232 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $650,419 of shares on the open market. 2 sold $2m, $2m of it under preset trading plans.

  • Wasson John
    CEO & President, Director
    Sold
    under a preset trading plan
    Date
    1 September 2026
    Shares
    6,400
    Price
    $88.32
    Value
    $565,252
  • Ostria Sergio J
    Executive Vice President
    Sold
    Date
    26 August 2026
    Shares
    2,000
    Price
    $88.59
    Value
    $177,183
  • Wasson John
    CEO & President, Director
    Sold
    under a preset trading plan
    Date
    13 July 2026
    Shares
    12,411
    Price
    $80.08
    Value
    $993,918
  • VAN HANDEL MICHAEL J
    Director
    Bought
    Date
    15 May 2026
    Shares
    8,000
    Price
    $61.39
    Value
    $491,120
  • Mehl Randall
    Director
    Bought
    Date
    6 March 2026
    Shares
    1,100
    Price
    $74.30
    Value
    $81,730
  • Mehl Randall
    Director
    Bought
    Date
    17 November 2025
    Shares
    500
    Price
    $77.00
    Value
    $38,500
  • Mehl Randall
    Director
    Bought
    Date
    14 November 2025
    Shares
    500
    Price
    $78.14
    Value
    $39,069

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Feb 2026, plus the 10-Q filed 6 Aug 2026 and 9 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.