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ICF International (ICF International) Piotroski F-Score : 7 (As of May. 21, 2024)


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What is ICF International Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

ICF International has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for ICF International's Piotroski F-Score or its related term are showing as below:

ICFI' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 9
Current: 7

During the past 13 years, the highest Piotroski F-Score of ICF International was 9. The lowest was 4. And the median was 6.


ICF International Piotroski F-Score Historical Data

The historical data trend for ICF International's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

ICF International Piotroski F-Score Chart

ICF International Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 4.00 6.00 5.00 6.00

ICF International Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 5.00 6.00 7.00

Competitive Comparison of ICF International's Piotroski F-Score

For the Consulting Services subindustry, ICF International's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


ICF International's Piotroski F-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, ICF International's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where ICF International's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 20.312 + 23.74 + 22.162 + 27.317 = $94 Mil.
Cash Flow from Operations was 36.71 + 25.673 + 106.831 + -10.001 = $159 Mil.
Revenue was 500.085 + 501.519 + 478.352 + 494.436 = $1,974 Mil.
Gross Profit was 174.681 + 178.015 + 174.807 + 183.903 = $711 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(2072.43 + 2115.422 + 2055.12 + 2011.772 + 2017.694) / 5 = $2054.4876 Mil.
Total Assets at the begining of this year (Mar23) was $2,072 Mil.
Long-Term Debt & Capital Lease Obligation was $633 Mil.
Total Current Assets was $466 Mil.
Total Current Liabilities was $393 Mil.
Net Income was 18.397 + 19.105 + 8.879 + 16.398 = $63 Mil.

Revenue was 423.11 + 467.777 + 475.609 + 483.282 = $1,850 Mil.
Gross Profit was 154.205 + 160.482 + 175.545 + 170.717 = $661 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(1857.723 + 1850.802 + 2157.76 + 2092.258 + 2072.43) / 5 = $2006.1946 Mil.
Total Assets at the begining of last year (Mar22) was $1,858 Mil.
Long-Term Debt & Capital Lease Obligation was $777 Mil.
Total Current Assets was $455 Mil.
Total Current Liabilities was $352 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

ICF International's current Net Income (TTM) was 94. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

ICF International's current Cash Flow from Operations (TTM) was 159. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=93.531/2072.43
=0.04513108

ROA (Last Year)=Net Income/Total Assets (Mar22)
=62.779/1857.723
=0.03379352

ICF International's return on assets of this year was 0.04513108. ICF International's return on assets of last year was 0.03379352. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

ICF International's current Net Income (TTM) was 94. ICF International's current Cash Flow from Operations (TTM) was 159. ==> 159 > 94 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=632.55/2054.4876
=0.30788699

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=776.818/2006.1946
=0.3872097

ICF International's gearing of this year was 0.30788699. ICF International's gearing of last year was 0.3872097. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=465.658/392.667
=1.18588524

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=454.856/351.775
=1.29303106

ICF International's current ratio of this year was 1.18588524. ICF International's current ratio of last year was 1.29303106. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

ICF International's number of shares in issue this year was 18.946. ICF International's number of shares in issue last year was 18.949. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=711.406/1974.392
=0.36031649

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=660.949/1849.778
=0.35731261

ICF International's gross margin of this year was 0.36031649. ICF International's gross margin of last year was 0.35731261. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=1974.392/2072.43
=0.95269418

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=1849.778/1857.723
=0.99572326

ICF International's asset turnover of this year was 0.95269418. ICF International's asset turnover of last year was 0.99572326. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+1+1+0
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

ICF International has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

ICF International  (NAS:ICFI) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


ICF International Piotroski F-Score Related Terms

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ICF International (ICF International) Business Description

Traded in Other Exchanges
Address
1902 Reston Metro Plaza, Reston, VA, USA, 20190
ICF International Inc provides professional services and technology-based solutions to government and commercial clients, including management, marketing, technology, and policy consulting and implementation services. Its services primarily support clients that operate in four key markets that include Energy, Environment, and Infrastructure, Health, Education, and Social Programs, Safety and Security and Consumer and Financial. The Company's major clients are United States federal government departments and agencies.
Executives
John Wasson officer: EVP & COO ICF INTERNATIONAL, INC., 1902 RESTON METRO PLAZA, RESTON VA 20190
Srikant Datar director ICF INTERNATIONAL, INC., 9300 LEE HIGHWAY, FAIRFAX VA 22031
Lee Rodney Mark Jr. officer: Executive Vice President 1902 RESTON METRO PLAZA, RESTON VA 20190
Van Handel Michael J director MANPOWERGROUP INC., 100 MANPOWER PLACE, MILWAUKEE WI 53212
Morgan James C M officer: Chief Financial Officer 1902 RESTON METRO PLAZA, RESTON VA 20190
Ranjit S Chadha officer: VP & Principal Accounting Off. C/O DENTSPLY SIRONA INC, 13320 BALLANTYNE CORPORATE PLACE, CHARLOTTE NC 28277
Anne F Choate officer: Executive Vice President 1902 RESTON METRO PLAZA, RESTON VA 20190
Barry M Broadus officer: Chief Financial Officer 1902 RESTON METRO PLAZA, RESTON VA 20190
Michelle A Williams director 1902 RESTON METRO PLAZA, RESTON VA 20190
Scott B Salmirs director 551 FIFTH AVE, SUITE 300, NEW YORK NY 10176
Sergio J Ostria officer: Executive Vice President 9300 LEE HIGHWAY, FAIRFAX VA 22031
Sudhakar Kesavan director, officer: Chairman, President and CEO ICF INTERNATIONAL, INC., 9300 LEE HIGHWAY, FAIRFAX VA 22031
Donald J Terreri officer: VP & Principal Acct. Officer 9300 LEE HIGHWAY, FAIRFAX VA 22031
Marilyn C Crouther director 1902 RESTON METRO PLAZA, RESTON VA 20190
Peter M Schulte director, 10 percent owner 900 THIRD AVENUE 33RD FLOOR, NEW YORK NY 10022-4775