Is ICF International, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for ICF International, Inc. has moved from attractive to fair, indicating a shift in its perceived value. Based on the current metrics, the company appears to be fairly valued. The P/E ratio stands at 17, the Price to Book Value is 2.00, and the EV to EBITDA is 10.93, which suggests that the company's valuation is in line with its earnings and asset values.
In comparison to its peers, ICF International, Inc. has a P/E ratio of 19.16, which is lower than Grand Canyon Education, Inc. at 33.38 but higher than Shift4 Payments, Inc. at 14.01. This positioning indicates that while ICF is not the most expensive option, it is also not the cheapest among its peers. Over the past year, ICF has underperformed significantly, with a stock return of -49.63% compared to the S&P 500's 14.08%, reinforcing the notion that the stock may be facing challenges despite its fair valuation.