Filing Flows › ICF International (ICFI) › How it makes money
How ICF International (ICFI) makes money
ICF International (ICFI) made $470M of revenue in the third quarter 2026 (Q3 2026), +1% from a year earlier. US State and International Government brought in $312M (66%); Commercial brought in $159M (34%). Of every dollar of revenue, 9¢ was left as operating profit, 7¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| US State and International Government | $312M | 66.2% | +1% | +0.9% |
| ↳ US Federal Government | $191M | 40.7% | +3% | -4% |
| ↳ US State and Local Government | $87.9M | 18.7% | +5% | +8% |
| ↳ International Government | $32.5M | 6.9% | -18% | +12% |
| Commercial | $159M | 33.8% | -4% | +2% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $470M | 100.0% |
| Operating profit | $43.6M | 9.3% |
| Income tax | $5.6M | 1.2% |
| Net earnings | $31.7M | 6.7% |
| Operating cash flow | $35.2M | 7.5% |
| Free cash flow | $29.6M | 6.3% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $470M | +1% |
| Q2 2026 | $474M | -0.3% |
| Q1 2026 | $438M | -10% |
| Q4 2025 | $444M | -11% |
| Q3 2025 | $465M | -10% |
| Q2 2025 | $476M | -7% |
| Q1 2025 | $488M | -1% |
From ICF International's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does ICF International make money?
ICF International (ICFI) made $470M of revenue in the third quarter 2026 (Q3 2026), +1% from a year earlier. US State and International Government brought in $312M (66%); Commercial brought in $159M (34%). Of every dollar of revenue, 9¢ was left as operating profit, 7¢ was left as net earnings.
What is ICF International's biggest business?
US State and International Government: $312M in the third quarter 2026, 66% of revenue, +0.9% from a year earlier.
What is ICF International's profit margin?
Net earnings were $31.7M, 6.7% of revenue, in the third quarter 2026; the operating margin was 9.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.