Filing Flows › ICF International (ICFI) › Q2 2026 › vs Q2 2025
ICF International (ICFI) Q2 2026 vs Q2 2025 (year over year)
ICF International's revenue fell $1.7M (-0.3%) from $476M in Q2 2025 to $474M in Q2 2026. The biggest changes: US State and International Government −$10.8M (-3%); Commercial +$9.2M (+6%). Operating margin 8.4% against 8.4% (+0.0 pts).
ICF International, Q2 2026: revenue $474M (-0.3% year over year), operating margin 8.4%, net earnings $26.9M, operating cash flow $99.7M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 8.4% | 8.4% | +0.0 pts |
| Net margin | 5.7% | 5.0% | +0.7 pts |
| Free cash flow margin | 19.8% | 9.7% | +10.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| US Federal Government | $185M | $204M | −$19.5M | -10% |
| US State and Local Government | $84.0M | $85.7M | −$1.6M | -2% |
| International Government | $39.5M | $29.3M | $10.3M | +35% |
| US State and International Government | $308M | $319M | −$10.8M | -3% |
| Commercial | $166M | $157M | $9.2M | +6% |
| Revenue | $474M | $476M | −$1.7M | -0.3% |
| Operating profit | $39.9M | $40.0M | −$124K | -0.3% |
| Costs & expenses | $435M | $436M | −$1.5M | -0.4% |
| Pre-tax earnings | $32.8M | $29.9M | $2.8M | +9% |
| Other expense, net | $7.1M | $10.1M | −$3.0M | -29% |
| Cost of revenue | $298M | $298M | −$569K | -0.2% |
| SG&A | $123M | $123M | $311K | +0.3% |
| Other operating costs | $13.4M | $14.7M | −$1.3M | -9% |
| Net earnings | $26.9M | $23.7M | $3.3M | +14% |
| Income tax | $5.8M | $6.3M | −$457K | -7% |
| Depreciation & amortization | $13.4M | $14.7M | −$1.3M | -9% |
| Share-based compensation | $4.3M | $4.3M | $58K | +1% |
| Working capital & other | $55.0M | $9.3M | $45.7M | +489% |
| Operating cash flow | $99.7M | $52.0M | $47.8M | +92% |
| Free cash flow (OCF − capex) | $94.0M | $46.2M | $47.8M | +103% |
| Capital expenditures | $5.7M | $5.8M | −$61K | -1% |
Questions
How much did ICF International's revenue grow year over year in Q2 2026?
ICF International's revenue fell $1.7M (-0.3%) from $476M in Q2 2025 to $474M in Q2 2026.
What drove ICF International's revenue change in Q2 2026?
US State and International Government −$10.8M (-3%); Commercial +$9.2M (+6%).