
ICF International (ICFI) Stock Forecast & Price Target
ICF International (ICFI) Analyst Ratings
Bulls say
ICF International Inc. has demonstrated robust growth within its commercial energy markets segment, which accounted for 30% of its revenue in Q3/25, showcasing a year-over-year revenue increase of 24.3%. The company's overall performance is bolstered by strong demand for its energy efficiency programs and expertise in areas such as flexible load management and grid optimization. Additionally, ICF's contract awards reached $621 million in Q2/25, highlighting a strong pipeline of projects and reinforcing a positive outlook for future revenue generation.
Bears say
ICF International Inc. has experienced a significant decline in revenue from federal government clients, which comprised 43% of its Q3/25 revenue, dropping by 29.8% year-over-year due to contract cancellations and a slowdown in project activity. Additionally, while there was strong growth in the commercial energy sector, this was overshadowed by a 25.2% year-over-year revenue decrease in the federal government client market, particularly affecting the Health and Social Programs category. Furthermore, the company’s valuation remains depressed compared to its three-year average EV/NTM EBITDA multiple, reflecting ongoing headwinds in the federal government market, with guidance indicating that revenue, as well as both GAAP and non-GAAP EPS, may remain flat to decline by up to 10% year-over-year in 2025.
This aggregate rating is based on analysts' research of ICF International and is not a guaranteed prediction by Public.com or investment advice.
ICF International (ICFI) Analyst Forecast & Price Prediction
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