
ICF International (ICFI) Stock Forecast & Price Target
ICF International (ICFI) Analyst Ratings
Bulls say
ICF International Inc demonstrates robust growth in its commercial energy markets business, which accounted for 30% of revenue in Q3/25 and reported a year-over-year revenue increase of 24.3%. The company achieved significant contract awards totaling $621 million in Q2/25, highlighting strong demand for its services and capabilities, particularly in the realms of energy efficiency and grid optimization. Additionally, the mid-teens organic growth rate in commercial energy revenue underscores ICF's effective positioning in a market characterized by increasing electricity demand and utility client reliance on their expertise.
Bears say
ICF International has experienced a significant revenue decline of 29.8% year-over-year from federal government clients, which constitute 43% of its revenue in the third quarter of 2025, primarily due to contract cancellations and a slower procurement pace. Additionally, while commercial energy segments showed growth, this was overshadowed by a substantial 25.2% revenue decrease in the federal government client market, particularly within the Health and Social Programs category. The company’s valuation appears depressed compared to its historical average EV/NTM EBITDA multiple of 13.3x, reflecting ongoing challenges and a bleak guidance outlook for revenue and earnings, indicating potential headwinds for future performance.
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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