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Side-by-side financial comparison of ICF International, Inc. (ICFI) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
ICF International, Inc. is the larger business by last-quarter revenue ($443.7M vs $340.0M, roughly 1.3× Walker & Dunlop, Inc.). ICF International, Inc. runs the higher net margin — 3.9% vs -12.9%, a 16.8% gap on every dollar of revenue. On growth, Walker & Dunlop, Inc. posted the faster year-over-year revenue change (-0.4% vs -10.6%). ICF International, Inc. produced more free cash flow last quarter ($68.7M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs -5.3%).
ICF International, Inc. is an American publicly traded consulting and technology services company based in Reston, Virginia.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
ICFI vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $443.7M | $340.0M |
| Net Profit | $17.3M | $-13.9M |
| Gross Margin | 35.7% | — |
| Operating Margin | 6.5% | -17.2% |
| Net Margin | 3.9% | -12.9% |
| Revenue YoY | -10.6% | -0.4% |
| Net Profit YoY | -29.5% | -131.0% |
| EPS (diluted) | $0.95 | $-0.41 |
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 | $443.7M | $340.0M | ||
| Q3 25 | $465.4M | $337.7M | ||
| Q2 25 | $476.2M | $319.2M | ||
| Q1 25 | $487.6M | $237.4M | ||
| Q4 24 | $496.3M | $341.5M | ||
| Q3 24 | $517.0M | $292.3M | ||
| Q2 24 | $512.0M | $270.7M | ||
| Q1 24 | $494.4M | $228.1M |
| Q4 25 | $17.3M | $-13.9M | ||
| Q3 25 | $23.8M | $33.5M | ||
| Q2 25 | $23.7M | $34.0M | ||
| Q1 25 | $26.9M | $2.8M | ||
| Q4 24 | $24.6M | $44.8M | ||
| Q3 24 | $32.7M | $28.8M | ||
| Q2 24 | $25.6M | $22.7M | ||
| Q1 24 | $27.3M | $11.9M |
| Q4 25 | 35.7% | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 37.3% | — | ||
| Q1 25 | 38.0% | — | ||
| Q4 24 | 36.1% | — | ||
| Q3 24 | 37.1% | — | ||
| Q2 24 | 35.7% | — | ||
| Q1 24 | 37.2% | — |
| Q4 25 | 6.5% | -17.2% | ||
| Q3 25 | 8.3% | 13.6% | ||
| Q2 25 | 8.4% | 14.5% | ||
| Q1 25 | 7.9% | 2.2% | ||
| Q4 24 | 7.3% | 15.3% | ||
| Q3 24 | 8.9% | 12.8% | ||
| Q2 24 | 8.3% | 10.4% | ||
| Q1 24 | 8.3% | 6.0% |
| Q4 25 | 3.9% | -12.9% | ||
| Q3 25 | 5.1% | 9.9% | ||
| Q2 25 | 5.0% | 10.6% | ||
| Q1 25 | 5.5% | 1.2% | ||
| Q4 24 | 4.9% | 13.1% | ||
| Q3 24 | 6.3% | 9.9% | ||
| Q2 24 | 5.0% | 8.4% | ||
| Q1 24 | 5.5% | 5.2% |
| Q4 25 | $0.95 | $-0.41 | ||
| Q3 25 | $1.28 | $0.98 | ||
| Q2 25 | $1.28 | $0.99 | ||
| Q1 25 | $1.44 | $0.08 | ||
| Q4 24 | $1.29 | $1.32 | ||
| Q3 24 | $1.73 | $0.85 | ||
| Q2 24 | $1.36 | $0.67 | ||
| Q1 24 | $1.44 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $5.3M | $299.3M |
| Total DebtLower is stronger | $401.4M | — |
| Stockholders' EquityBook value | $1.0B | $1.7B |
| Total Assets | $2.1B | $5.1B |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.3M | $299.3M | ||
| Q3 25 | $4.0M | $274.8M | ||
| Q2 25 | $7.0M | $233.7M | ||
| Q1 25 | $5.7M | $181.0M | ||
| Q4 24 | $5.0M | $279.3M | ||
| Q3 24 | $6.9M | $179.8M | ||
| Q2 24 | $4.1M | $208.1M | ||
| Q1 24 | $3.7M | $216.5M |
| Q4 25 | $401.4M | — | ||
| Q3 25 | $449.4M | — | ||
| Q2 25 | $462.3M | — | ||
| Q1 25 | $502.0M | — | ||
| Q4 24 | $411.7M | — | ||
| Q3 24 | $419.1M | — | ||
| Q2 24 | $433.9M | — | ||
| Q1 24 | $474.7M | — |
| Q4 25 | $1.0B | $1.7B | ||
| Q3 25 | $1.0B | $1.8B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $968.9M | $1.7B | ||
| Q4 24 | $982.5M | $1.7B | ||
| Q3 24 | $976.3M | $1.7B | ||
| Q2 24 | $943.3M | $1.7B | ||
| Q1 24 | $916.1M | $1.7B |
| Q4 25 | $2.1B | $5.1B | ||
| Q3 25 | $2.1B | $5.8B | ||
| Q2 25 | $2.1B | $4.7B | ||
| Q1 25 | $2.1B | $4.5B | ||
| Q4 24 | $2.1B | $4.4B | ||
| Q3 24 | $2.0B | $4.6B | ||
| Q2 24 | $2.0B | $4.2B | ||
| Q1 24 | $2.0B | $3.8B |
| Q4 25 | 0.39× | — | ||
| Q3 25 | 0.44× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 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 | $75.6M | $-664.3M |
| Free Cash FlowOCF − Capex | $68.7M | $-680.1M |
| FCF MarginFCF / Revenue | 15.5% | -200.0% |
| Capex IntensityCapex / Revenue | 1.6% | 4.6% |
| Cash ConversionOCF / Net Profit | 4.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $120.2M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $-664.3M | ||
| Q3 25 | $47.3M | $-948.1M | ||
| Q2 25 | $52.0M | $-238.5M | ||
| Q1 25 | $-33.0M | $-281.1M | ||
| Q4 24 | $95.4M | $129.4M | ||
| Q3 24 | $25.5M | $-202.0M | ||
| Q2 24 | $60.6M | $-237.8M | ||
| Q1 24 | $-10.0M | $38.4M |
| Q4 25 | $68.7M | $-680.1M | ||
| Q3 25 | $41.8M | $-950.4M | ||
| Q2 25 | $46.2M | $-241.0M | ||
| Q1 25 | $-36.5M | $-284.7M | ||
| Q4 24 | $89.5M | $116.4M | ||
| Q3 24 | $20.4M | $-204.0M | ||
| Q2 24 | $55.5M | $-241.7M | ||
| Q1 24 | $-15.2M | $35.2M |
| Q4 25 | 15.5% | -200.0% | ||
| Q3 25 | 9.0% | -281.5% | ||
| Q2 25 | 9.7% | -75.5% | ||
| Q1 25 | -7.5% | -120.0% | ||
| Q4 24 | 18.0% | 34.1% | ||
| Q3 24 | 3.9% | -69.8% | ||
| Q2 24 | 10.8% | -89.3% | ||
| Q1 24 | -3.1% | 15.4% |
| Q4 25 | 1.6% | 4.6% | ||
| Q3 25 | 1.2% | 0.7% | ||
| Q2 25 | 1.2% | 0.8% | ||
| Q1 25 | 0.7% | 1.5% | ||
| Q4 24 | 1.2% | 3.8% | ||
| Q3 24 | 1.0% | 0.7% | ||
| Q2 24 | 1.0% | 1.4% | ||
| Q1 24 | 1.1% | 1.4% |
| Q4 25 | 4.37× | — | ||
| Q3 25 | 1.99× | -28.34× | ||
| Q2 25 | 2.20× | -7.02× | ||
| Q1 25 | -1.23× | -102.07× | ||
| Q4 24 | 3.88× | 2.89× | ||
| Q3 24 | 0.78× | -7.01× | ||
| Q2 24 | 2.37× | -10.49× | ||
| Q1 24 | -0.37× | 3.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICFI
| US Federal Government | $166.7M | 38% |
| Commercial | $164.4M | 37% |
| US State And Local Government | $78.7M | 18% |
| International Government | $33.8M | 8% |
WD
Segment breakdown not available.
