Filing Flows › ICF International (ICFI) › Q4 2025
ICF International (ICFI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
ICF International (ICFI) reported revenue of $444M for the fourth quarter 2025 (Q4 2025), -11% from a year earlier and -5% from the quarter before. Operating margin was 6.5%, net earnings $17.3M (3.9% of revenue).
ICF International, Q4 2025: revenue $444M (-11% year over year), operating margin 6.5%, net earnings $17.3M, operating cash flow $75.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $444M | -5% | -11% |
| Operating profit | $28.6M | -25% | -21% |
| Net earnings | $17.3M | -27% | -30% |
| Operating cash flow | $75.6M | +60% | -21% |
| Free cash flow | $68.7M | +64% | -23% |
What changed
Revenue was $443.7M in Q4 2025, down 11% year over year and down 5% from the previous quarter. US Federal Government was the largest line at 38% of revenue.
Operating profit was $28.6M, a 6.5% margin (down 0.9 points year over year). Total costs fell 10% while revenue fell 11%. Net earnings were $17.3M, down 30% year over year. The effective tax rate was 18.7%.
Operating cash flow was $75.6M (down 21% year over year), 437% of net earnings. Non-cash charges added back $14.5M of depreciation and amortization and $4.8M of share-based compensation. Working capital and other items added $39.1M. Capital expenditures of $6.9M left free cash flow of $68.7M.
Questions
What was ICF International's revenue in the fourth quarter 2025?
ICF International (ICFI) reported revenue of $444M for the fourth quarter 2025 (Q4 2025), -11% from a year earlier and -5% from the quarter before.
Was ICF International profitable in the fourth quarter 2025?
Operating profit was $28.6M (6.5% of revenue) and net earnings $17.3M.
Source: ICF International 10-K on SEC EDGAR.