ASGN Reports Q4 Revenue of $980.1 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4d ago
0mins
Should l Buy ASGN?
Reports Q4 revenue $980.1M, two estimates $979.1M. "ASGN reported solid results for the fourth quarter, with revenues of $980.1 million at the top end of our guidance range, and Adjusted EBITDA margins of 11 percent exceeding our expectations," said ASGN's Chief Executive Officer, Ted Hanson. "Free Cash Flow generation remains a hallmark of our business. For the year, we generated $288.1 million in Free Cash Flow, representing 68.2 percent of Adjusted EBITDA, above our conversion target rate of 60 to 65 percent. We also bought back $170.1 million in shares in 2025, reinforcing our commitment to maximizing shareholder value. We enter the new year energized by the progress we have achieved and the robust foundation we have established. Our strategic initiatives are firmly in place, and our strong balance sheet and disciplined approach to capital allocation empowers us to pursue growth opportunities with confidence. The acquisition of Quinnox is a great example of our proven, repeatable acquisition strategy and directly aligns with the priorities we outlined at our Investor Day. The upcoming launch of Everforth, our new unified customer and investor-facing brand, also marks a transformative step in our Next Wave Growth Strategy. Ultimately, by integrating cutting-edge technology, world-class engineering, and deep expertise, we are very well positioned to adapt and thrive in today's rapidly evolving, AI-driven business landscape."
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Analyst Views on ASGN
Wall Street analysts forecast ASGN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ASGN is 48.25 USD with a low forecast of 41.00 USD and a high forecast of 57.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
3 Buy
1 Hold
1 Sell
Moderate Buy
Current: 53.070
Low
41.00
Averages
48.25
High
57.00
Current: 53.070
Low
41.00
Averages
48.25
High
57.00
About ASGN
ASGN Incorporated is a provider of information technology (IT) services and solutions to the commercial and government sectors. The Company operates through two segments: Commercial and Federal Government. The Commercial segment provides a spectrum of IT services and solutions to Fortune 1000 and large mid-market clients. Growth in this segment is being driven by digital transformation and innovation requirements, including that of AI, workforce mobilization, and modern enterprise needs across five industry verticals: Financial Services, Consumer and Industrial, Technology, Media, and Telecom, Healthcare, and Business and Government Services. The Federal Government segment delivers advanced solutions in cloud and enterprise IT, cybersecurity, AI/ML, application, and digital transformation to agencies in both the public and private sectors. The segment provides services under time-and-materials, cost-reimbursable, and firm-fixed-price contracts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
ASGN Reports Strong Q4 2025 Earnings with Strategic Growth Initiatives
- Strong Revenue Performance: ASGN reported Q4 2025 revenues of $980.1 million, at the top end of its guidance range, with IT consulting revenues comprising 63% of total revenues, reflecting robust demand in high-value technology solutions.
- Record Commercial Consulting: Commercial consulting bookings reached a record $444.4 million, with a book-to-bill ratio of 1.3 for the quarter, indicating strong market demand and significant growth potential, particularly in AI-driven consulting services.
- Acquisition and Integration Strategy: ASGN announced the acquisition of Quinnox for $290 million, expected to close in March, which will enhance the company's digital engineering capabilities and expand market share, positioning ASGN favorably in a competitive landscape.
- Robust Future Outlook: The company projects Q1 2026 revenues between $960 million and $980 million, with net income of $25.8 million to $29.4 million, demonstrating confidence in future growth, especially with ongoing investments in AI and digital engineering.
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- Revenue Growth Outlook: Quinnox is projected to generate approximately $100 million in revenue in 2025, with expected low-to-mid-teens revenue growth in 2026, which will significantly boost ASGN's overall revenue.
- Profitability Enhancement: ASGN anticipates adjusted EBITDA margins in the low 20 percent range for 2026, and the acquisition of Quinnox is expected to further enhance overall profitability, positively impacting adjusted EPS.
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See More
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- Strong Revenue Performance: ASGN reported Q4 2025 revenues of $980.1 million, at the top end of its guidance range, with IT consulting revenues comprising 63% of total revenues, reflecting robust demand in high-value technology solutions.
- Record Commercial Consulting: Commercial consulting bookings reached a record $444.4 million, with a book-to-bill ratio of 1.3 for the quarter, indicating strong market demand and significant growth potential, particularly in AI-driven consulting services.
- Acquisition and Integration Strategy: ASGN announced the acquisition of Quinnox for $290 million, expected to close in March, which will enhance the company's digital engineering capabilities and expand market share, positioning ASGN favorably in a competitive landscape.
- Robust Future Outlook: The company projects Q1 2026 revenues between $960 million and $980 million, with net income of $25.8 million to $29.4 million, demonstrating confidence in future growth, especially with ongoing investments in AI and digital engineering.
See More
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- Market Expansion: Quantum Secure Encryption Corp. (QSE) will participate in the World Defense Show 2026 in Saudi Arabia this February, establishing connections with government and military leaders to meet the increasing demand for post-quantum security, which is expected to enhance the company's global market influence.
- Technology Certification: QSE has achieved Level 2 Certification under the CyberSecure Canada program and, through a strategic partnership with NUSA Networks, has rapidly accessed Indonesia's government and financial services sectors, further solidifying its technology application in critical infrastructure.
- Funding Support: The company recently completed a C$2.8 million financing round, ensuring operational funding against the backdrop of a projected global post-quantum cryptography market reaching $17.69 billion by 2034, demonstrating its strong market readiness.
- Product Innovation: QSE's qREK Software Development Kit enables the generation of quantum-resilient encryption keys, supporting AES, RSA, and NIST-recommended post-quantum algorithms, enhancing enterprise security under a zero-trust architecture, and is expected to drive further growth in the secure communications market.
See More
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- Market Expansion: Quantum Secure Encryption Corp. (QSE) will represent Canada at the 2026 World Defense Show, connecting with government and military leaders to address the growing demand for post-quantum security, which is expected to enhance the company's global influence.
- Strategic Partnership: Through a partnership with NUSA Networks and Porta Nusa, QSE gains rapid access to Indonesia's government and financial services sectors, leveraging NUSA's experience from over 150 major projects to accelerate the deployment of its technology in critical infrastructure, thereby enhancing its competitive edge.
- Product Innovation: The launch of QSE's qREK Software Development Kit enables the generation of quantum-resilient encryption keys compatible with AES, RSA, and NIST-recommended post-quantum algorithms, which is expected to bolster enterprise security communication capabilities under a zero-trust architecture, further solidifying its market position.
- Funding Support: QSE's recent C$2.8 million financing round ensures it is well-funded to execute its global expansion plans, especially as the global post-quantum cryptography market is projected to reach $17.69 billion by 2034, enhancing its operational readiness.
See More
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- Acquisition Agreement: ASGN has signed a definitive agreement to acquire Quinnox for $290 million in cash, with the transaction expected to close in March 2026, thereby enhancing ASGN's competitive position in the market.
- Revenue Growth Outlook: Quinnox is projected to generate approximately $100 million in revenue in 2025, with expected low-to-mid-teens revenue growth in 2026, which will significantly boost ASGN's overall revenue.
- Profitability Enhancement: ASGN anticipates adjusted EBITDA margins in the low 20 percent range for 2026, and the acquisition of Quinnox is expected to further enhance overall profitability, positively impacting adjusted EPS.
- Fourth Quarter Performance Forecast: ASGN reaffirmed its revenue guidance for Q4 2025 at $960 million to $980 million, with adjusted EBITDA also expected to be at the high end of the previously announced range of $102 million to $107 million, reflecting strong momentum in AI and consulting.
See More
ASGN to Acquire Quinnox for $290M, Expanding Digital Solutions Capabilities
- Acquisition Deal: ASGN has agreed to acquire digital solutions provider Quinnox for $290 million in cash, with the deal expected to close in March 2026, significantly enhancing ASGN's digital engineering and AI delivery capabilities across its Fortune 1000 client base.
- Financial Performance: Quinnox is projected to generate approximately $100 million in revenue in 2025, with expected low-to-mid teens growth and low-20% EBITDA margins in 2026, thereby providing substantial financial returns for ASGN.
- Earnings Outlook: The acquisition is anticipated to be accretive to adjusted EPS in the first full year post-closing, further solidifying ASGN's profitability and competitive position in the market.
- Sustained Growth: ASGN reaffirmed its Q4 2025 revenue and EBITDA guidance, targeting revenues of $960 million to $980 million, indicating strong momentum in its AI and consulting business expansion.
See More
Infosys (INFY) Rises 5.3%: Does This Signal Potential for More Growth?
Infosys Stock Performance: Infosys shares rose 5.3% to close at $19.18, driven by increased trading volume and positive sentiment from Accenture's strong earnings report, indicating a potential revival in IT spending.
Earnings Expectations: Infosys is expected to report quarterly earnings of $0.20 per share, reflecting a 5.3% year-over-year increase, with revenues projected at $5.09 billion, up 3.1% from the previous year.
Earnings Estimate Trends: The consensus EPS estimate for Infosys has remained unchanged over the past month, suggesting that the stock's price may not sustain its upward movement without changes in earnings estimate revisions.
Industry Context: ASGN Inc, another company in the IT services sector, also saw a slight increase in its stock price and has a similar Zacks Rank of #3 (Hold), with unchanged EPS estimates indicating a potential slowdown in growth.
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