ICFIICF International, Inc.
Is the business good?
A genuinely good business: 7 of 9 health tests passed, earnings fully cash-backed (2.0×), and margins widening.
High fundamental quality. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
A balanced mix of margins, efficiency, and leverage. ROE 9% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ICFI?
ICF International, Inc. earns 7.7% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 1.3 points below what the capital costs: growth destroys value
- Operating margin
- 7.8%
Operating margin · Consulting Services median 10.0% · 12 months to Q2 2026
- Cash conversion
- 1.96×
Cash conversion · 1.04× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −2.2%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 5.9% |
| FY2021 | 7.1% |
| FY2022 | 6.1% |
| FY2023 | 6.7% |
| FY2024 | 8.2% |
| FY2025 | 7.8% |
Details›
- Gross margin12 months to Q2 2026
- 37%
- Operating margin12 months to Q2 2026
- 7.8%
- Net margin12 months to Q2 2026
- 4.9%
- Free cash flow margin
- 11%
- Revenue, trailing twelve months
- $1.82B
- Free cash flow, trailing twelve months
- $199M
- Net income, trailing twelve months
- $89M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 7.7%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.