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Side-by-side financial comparison of Aeries Technology, Inc. (AERT) and ICF International, Inc. (ICFI). Click either name above to swap in a different company.
ICF International, Inc. is the larger business by last-quarter revenue ($443.7M vs $17.5M, roughly 25.4× Aeries Technology, Inc.). Aeries Technology, Inc. runs the higher net margin — 6.6% vs 3.9%, a 2.7% gap on every dollar of revenue. On growth, Aeries Technology, Inc. posted the faster year-over-year revenue change (-0.8% vs -10.6%). ICF International, Inc. produced more free cash flow last quarter ($68.7M vs $2.1M). Over the past eight quarters, ICF International, Inc.'s revenue compounded faster (-5.3% CAGR vs -5.9%).
ICF International, Inc. is an American publicly traded consulting and technology services company based in Reston, Virginia.
AERT vs ICFI — Head-to-Head
Income Statement — Q3 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $17.5M | $443.7M |
| Net Profit | $1.2M | $17.3M |
| Gross Margin | 19.1% | 35.7% |
| Operating Margin | 4.4% | 6.5% |
| Net Margin | 6.6% | 3.9% |
| Revenue YoY | -0.8% | -10.6% |
| Net Profit YoY | -56.7% | -29.5% |
| EPS (diluted) | $0.02 | $0.95 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $17.5M | $443.7M | ||
| Q3 25 | $17.4M | $465.4M | ||
| Q2 25 | $15.3M | $476.2M | ||
| Q1 25 | $19.1M | $487.6M | ||
| Q4 24 | $17.6M | $496.3M | ||
| Q3 24 | $16.9M | $517.0M | ||
| Q2 24 | $16.7M | $512.0M | ||
| Q1 24 | $19.7M | $494.4M |
| Q4 25 | $1.2M | $17.3M | ||
| Q3 25 | $369.0K | $23.8M | ||
| Q2 25 | $1.6M | $23.7M | ||
| Q1 25 | $-6.0M | $26.9M | ||
| Q4 24 | $2.7M | $24.6M | ||
| Q3 24 | $-2.3M | $32.7M | ||
| Q2 24 | $-14.7M | $25.6M | ||
| Q1 24 | $32.1M | $27.3M |
| Q4 25 | 19.1% | 35.7% | ||
| Q3 25 | 28.9% | 37.6% | ||
| Q2 25 | 24.6% | 37.3% | ||
| Q1 25 | 26.7% | 38.0% | ||
| Q4 24 | 23.0% | 36.1% | ||
| Q3 24 | 21.2% | 37.1% | ||
| Q2 24 | 24.1% | 35.7% | ||
| Q1 24 | 32.1% | 37.2% |
| Q4 25 | 4.4% | 6.5% | ||
| Q3 25 | 11.4% | 8.3% | ||
| Q2 25 | 5.3% | 8.4% | ||
| Q1 25 | -16.3% | 7.9% | ||
| Q4 24 | -29.3% | 7.3% | ||
| Q3 24 | -24.3% | 8.9% | ||
| Q2 24 | -98.5% | 8.3% | ||
| Q1 24 | -0.0% | 8.3% |
| Q4 25 | 6.6% | 3.9% | ||
| Q3 25 | 2.1% | 5.1% | ||
| Q2 25 | 10.3% | 5.0% | ||
| Q1 25 | -31.6% | 5.5% | ||
| Q4 24 | 15.2% | 4.9% | ||
| Q3 24 | -13.5% | 6.3% | ||
| Q2 24 | -87.9% | 5.0% | ||
| Q1 24 | 163.1% | 5.5% |
| Q4 25 | $0.02 | $0.95 | ||
| Q3 25 | $0.01 | $1.28 | ||
| Q2 25 | $0.03 | $1.28 | ||
| Q1 25 | $-0.10 | $1.44 | ||
| Q4 24 | $0.08 | $1.29 | ||
| Q3 24 | $-0.05 | $1.73 | ||
| Q2 24 | $-0.39 | $1.36 | ||
| Q1 24 | — | $1.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.6M | $5.3M |
| Total DebtLower is stronger | $943.0K | $401.4M |
| Stockholders' EquityBook value | $-1.2M | $1.0B |
| Total Assets | $42.0M | $2.1B |
| Debt / EquityLower = less leverage | — | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.6M | $5.3M | ||
| Q3 25 | $1.9M | $4.0M | ||
| Q2 25 | $2.1M | $7.0M | ||
| Q1 25 | $2.8M | $5.7M | ||
| Q4 24 | $2.4M | $5.0M | ||
| Q3 24 | $3.6M | $6.9M | ||
| Q2 24 | $4.2M | $4.1M | ||
| Q1 24 | $2.1M | $3.7M |
| Q4 25 | $943.0K | $401.4M | ||
| Q3 25 | $960.0K | $449.4M | ||
| Q2 25 | $1.1M | $462.3M | ||
| Q1 25 | $1.1M | $502.0M | ||
| Q4 24 | $1.5M | $411.7M | ||
| Q3 24 | $1.5M | $419.1M | ||
| Q2 24 | $1.7M | $433.9M | ||
| Q1 24 | $1.5M | $474.7M |
| Q4 25 | $-1.2M | $1.0B | ||
| Q3 25 | $-2.9M | $1.0B | ||
| Q2 25 | $-4.3M | $1.0B | ||
| Q1 25 | $-5.8M | $968.9M | ||
| Q4 24 | $692.0K | $982.5M | ||
| Q3 24 | $-2.3M | $976.3M | ||
| Q2 24 | $-231.0K | $943.3M | ||
| Q1 24 | $-12.2M | $916.1M |
| Q4 25 | $42.0M | $2.1B | ||
| Q3 25 | $40.5M | $2.1B | ||
| Q2 25 | $38.8M | $2.1B | ||
| Q1 25 | $39.8M | $2.1B | ||
| Q4 24 | $50.7M | $2.1B | ||
| Q3 24 | $52.0M | $2.0B | ||
| Q2 24 | $51.8M | $2.0B | ||
| Q1 24 | $49.4M | $2.0B |
| Q4 25 | — | 0.39× | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | — | 0.46× | ||
| Q1 25 | — | 0.52× | ||
| Q4 24 | 2.17× | 0.42× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.52× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.4M | $75.6M |
| Free Cash FlowOCF − Capex | $2.1M | $68.7M |
| FCF MarginFCF / Revenue | 12.2% | 15.5% |
| Capex IntensityCapex / Revenue | 1.3% | 1.6% |
| Cash ConversionOCF / Net Profit | 2.05× | 4.37× |
| TTM Free Cash FlowTrailing 4 quarters | $4.6M | $120.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4M | $75.6M | ||
| Q3 25 | $1.0M | $47.3M | ||
| Q2 25 | $1.4M | $52.0M | ||
| Q1 25 | $864.0K | $-33.0M | ||
| Q4 24 | $-2.1M | $95.4M | ||
| Q3 24 | $1.9M | $25.5M | ||
| Q2 24 | $-1.7M | $60.6M | ||
| Q1 24 | $-3.0M | $-10.0M |
| Q4 25 | $2.1M | $68.7M | ||
| Q3 25 | $653.0K | $41.8M | ||
| Q2 25 | $1.1M | $46.2M | ||
| Q1 25 | $752.0K | $-36.5M | ||
| Q4 24 | $-2.5M | $89.5M | ||
| Q3 24 | $1.3M | $20.4M | ||
| Q2 24 | $-2.1M | $55.5M | ||
| Q1 24 | $-3.5M | $-15.2M |
| Q4 25 | 12.2% | 15.5% | ||
| Q3 25 | 3.8% | 9.0% | ||
| Q2 25 | 7.2% | 9.7% | ||
| Q1 25 | 3.9% | -7.5% | ||
| Q4 24 | -14.0% | 18.0% | ||
| Q3 24 | 7.8% | 3.9% | ||
| Q2 24 | -12.5% | 10.8% | ||
| Q1 24 | -17.6% | -3.1% |
| Q4 25 | 1.3% | 1.6% | ||
| Q3 25 | 2.1% | 1.2% | ||
| Q2 25 | 1.7% | 1.2% | ||
| Q1 25 | 0.6% | 0.7% | ||
| Q4 24 | 2.2% | 1.2% | ||
| Q3 24 | 3.6% | 1.0% | ||
| Q2 24 | 2.2% | 1.0% | ||
| Q1 24 | 2.3% | 1.1% |
| Q4 25 | 2.05× | 4.37× | ||
| Q3 25 | 2.78× | 1.99× | ||
| Q2 25 | 0.87× | 2.20× | ||
| Q1 25 | — | -1.23× | ||
| Q4 24 | -0.78× | 3.88× | ||
| Q3 24 | — | 0.78× | ||
| Q2 24 | — | 2.37× | ||
| Q1 24 | -0.09× | -0.37× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AERT
Segment breakdown not available.
ICFI
| US Federal Government | $166.7M | 38% |
| Commercial | $164.4M | 37% |
| US State And Local Government | $78.7M | 18% |
| International Government | $33.8M | 8% |
