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Company

ASGN Inc

Ticker
ASGN
Sector
Industry
Report date
May 3, 2026
Valye AI Score

100

Very high visibility
Recent developments
Recent developments summary

Recent news coverage includes general market and sector-related articles with limited direct company-specific updates. Earlier in 2026, ASGN reported Q4 earnings and provided earnings call transcripts, highlighting key metrics and operational details.

Recent developments:
  • ASGN reported Q4 2025 earnings with detailed comparisons of key metrics to prior periods [N7].
  • The company held a Q4 2025 earnings call providing insights into operational performance and strategic initiatives [N8].
  • ASGN was featured among bargain stocks with attractive EV-to-EBITDA ratios in February 2026 [N6].
  • General market news includes reports on commodity prices and major indices posting record highs, providing broader economic context [N1][N2][N3][N4][N5].
Overview

ASGN Inc is a technology and digital engineering company providing IT solutions to commercial and government clients primarily in the United States. The company operates under two segments: Commercial and Federal Government. The Commercial Segment serves Fortune 1000 and large mid-market clients across six solution areas and five industries, offering consulting, creative digital marketing, and permanent placement services. The Federal Government Segment delivers advanced IT solutions in data and AI, cybersecurity, software engineering, and enterprise platforms to defense, intelligence, national security, and other federal agencies. ASGN has a broad talent pool of approximately 19,600 billable professionals and 2,800 internal employees. The company leverages proprietary assets, accelerators, and strategic partnerships with leading technology providers to deliver tailored IT solutions. ASGN's business model emphasizes higher-value consulting services with enhanced margin opportunities and a unique delivery model that provides cost advantages and flexibility. The company maintains a significant contract backlog and a diversified client base, with no single client other than the U.S. federal government representing more than 10% of revenues.

Executive summary

ASGN Inc, rebranding as Everforth, is a leading U.S.-based IT solutions provider serving commercial and federal government sectors through two segments. The company offers a broad portfolio of IT consulting and digital engineering services across six core solution areas and multiple industries. It has a sizable consulting platform with 62% of 2025 revenues from IT consulting. The company reported Q1 2026 revenues of $968.3 million, flat year-over-year, with a slight increase in Commercial Segment revenues and a modest decline in Federal Government revenues. Gross margin contracted by 90 basis points year-over-year. Net income declined to $5.5 million in Q1 2026 from $20.9 million in the prior year period. ASGN maintains a strong contract backlog of $2.8 billion in its Federal Government Segment and liquidity with a current ratio of 2.1 as of March 31, 2026. The company continues to invest in organic growth and strategic acquisitions to enhance its higher-value IT consulting capabilities. Financial figures (if any) are summarized from the latest available SEC filings and are provided for informational purposes only — not financial advice.

Scenarios for ASGN

Bull case model:

ASGN's focus on higher-value IT consulting and digital engineering services aligns with growing demand for advanced technology solutions in commercial and government sectors. Its broad solution portfolio across critical technology areas such as AI, cloud, cybersecurity, and data analytics positions it to capture expanding market opportunities. The company's strategic acquisitions and organic growth initiatives enhance its capabilities and client reach. Its strong contract backlog and diversified client base provide revenue visibility and resilience. Continued innovation and partnerships with leading technology firms may drive further revenue growth and margin expansion.

Bear case model:

ASGN faces risks from competitive pressures in the IT consulting and professional services market, which may impact pricing and client retention. The Federal Government Segment is subject to funding cycles and initiatives such as the Department of Government Efficiency, which have caused revenue declines. Gross margin contraction and increased SG&A expenses, including acquisition-related costs, have pressured profitability. The company's reliance on a large pool of contract professionals exposes it to talent availability and retention challenges. Economic or regulatory changes could affect client spending and contract renewals, impacting financial performance.

Moat:

ASGN's competitive advantages stem from its deep industry expertise, extensive and specialized talent pool, and a unique delivery model that allows rapid assembly of tailored teams for clients. Its longstanding client relationships and domain specialization enable trust and repeat business. The company's proprietary assets and accelerators reduce deployment time and increase solution precision. Strategic partnerships with leading technology providers expand market access and innovation capabilities. The combination of these factors creates barriers to entry for competitors and supports differentiated service offerings with cost and quality advantages.

Risks overview
Risks summary
The most significant risks for ASGN include competitive pressures in the IT consulting market, fluctuations in government funding and contracts, and challenges in talent retention, all of which could impact revenue growth and profitability.
Risks details:

• Competitive Market Pressure: ASGN competes with large publicly-held and private IT consulting firms, which may intensify competition for talent and clients, potentially affecting pricing and margins.
• Government Funding and Contract Risks: The Federal Government Segment's revenues depend on government funding cycles and contract awards, which can fluctuate and are subject to initiatives like the Department of Government Efficiency that have reduced revenues.
• Talent Retention and Availability: The company's business model relies on maintaining a deep pool of skilled IT and digital marketing professionals; challenges in recruiting or retaining talent could impact service delivery and growth.
• Margin Pressure and Expense Increases: Gross margin contraction and rising selling, general, and administrative expenses, including acquisition and integration costs, have negatively affected profitability.
• Economic and Regulatory Environment: Changes in economic conditions or regulatory requirements could influence client IT spending, contract terms, and compliance costs, affecting ASGN's financial results.

FINAL FORECAST FOR ASGN

Final take one line
ASGN Inc is a well-documented IT solutions provider with a clear business model focused on higher-value consulting and government contracts, supported by strong talent and strategic partnerships.
Final take 12 to 24 month view

Business trends: Continued emphasis on higher-value IT consulting and digital engineering services, with a diversified client base and strategic acquisitions enhancing capabilities.
Execution milestones: Completion of rebranding to Everforth, integration of recent acquisitions, and maintenance of contract backlog and liquidity.
Key risks: Competitive pressures, government funding variability, talent retention challenges, margin pressures, and economic/regulatory impacts.

Valye AI Visibility Research Score

Very high visibility

Visibility score reflects the breadth and consistency of available disclosure across SEC filings, recent public reporting, and baseline business context (research-only; not investment advice).

100
LLM visibility overview
LLM Visibility known facts
  • ASGN Inc is a leading provider of information technology (IT) solutions to commercial and government sectors in the United States.
  • In November 2025, ASGN announced a rebranding to Everforth, unifying six brands under one identity: Apex Systems, Creative Circle, CyberCoders, ECS, GlideFast, and TopBloc.
  • Everforth focuses on six core solution areas: Cloud and Infrastructure, Data and AI, Software Development and Engineering, Customer Experience, Cybersecurity, and Enterprise Platforms.
  • The company operates through two segments: Commercial (70% of 2025 revenues) and Federal Government (30% of 2025 revenues).
  • The Commercial Segment serves Fortune 1000 and large mid-market clients across five industries: Financial Services, Consumer and Industrial, Technology, Media and Telecom (TMT), Healthcare, and Business and Government Services.
  • The Federal Government Segment delivers advanced IT solutions to defense, intelligence, national security, federal civilian, and other agencies, with contract backlog of $2.9 billion as of December 31, 2025.
  • ASGN's total addressable market is approximately $680 billion, including $490 billion commercial IT consulting, $135 billion government IT consulting, and $55 billion professional staffing.
  • The company has grown through organic growth and six strategic acquisitions over the last five years to enhance higher-value IT consulting and digital engineering capabilities.
  • ASGN employs approximately 19,600 billable professionals and 2,800 internal employees as of 2025.
  • The company leverages a single talent pool for both short-term assignments and long-term consulting contracts, providing cost advantages and flexibility.
  • The Commercial Segment provides services under time-and-materials and fixed-price contracts; the Federal Government Segment uses time-and-materials, cost reimbursable, and firm-fixed-price contracts with durations of about three to five years.
  • The Federal Government Segment has approximately 1,000 cybersecurity consultants (about 500 with security clearances) and 900 AI and data professionals with security clearances.
  • ASGN maintains partnerships with leading technology companies including AWS, Microsoft, Google, Salesforce, ServiceNow, Workday, CrowdStrike, Elastic, SailPoint, Trellix, Databricks, and Snowflake.
  • For the quarter ended March 31, 2026, consolidated revenues were $968.3 million, flat year-over-year; Commercial Segment revenues increased 0.5%, Federal Government revenues decreased 1.1%.
  • Gross margin for the quarter was 27.5%, down 90 basis points year-over-year, with Commercial Segment margin down 140 basis points and Federal Government margin up 10 basis points.
  • Selling, general, and administrative expenses increased to $224.4 million in Q1 2026 from $214.5 million in Q1 2025, including higher acquisition and strategic planning expenses.
  • Net income for Q1 2026 was $5.5 million, down from $20.9 million in Q1 2025; earnings per share basic and diluted were $0.13.
  • Contract backlog for the Federal Government Segment was $2.8 billion as of March 31, 2026, with a contract backlog coverage ratio of 2.4 to 1.
  • Liquidity as of March 31, 2026 included cash and cash equivalents of $161.2 million (as of December 31, 2025), current assets of $970.3 million, current liabilities of $461.9 million, a current ratio of 2.1, and a cash ratio of 0.35.
  • Net cash provided by operating activities was $18.5 million for Q1 2026, with net cash used in investing activities of $293.0 million primarily for the Quinnox acquisition.
  • Net cash provided by financing activities was $257.6 million in Q1 2026, including borrowings under credit facilities and stock repurchases.
  • The company faces competition from other large publicly-held and private IT consulting and professional services providers, competing on expertise, client relationships, and delivery model.
  • ASGN's business model focuses on higher-end, higher-value IT consulting solutions with enhanced margin opportunities in AI, data, cloud, cybersecurity, and digital transformation.
  • The company emphasizes deep industry expertise, proprietary assets and accelerators, technology partnerships, and a superior delivery model as its value proposition.
  • ASGN's contracts generally have termination for convenience provisions and are considered short-term for accounting purposes (one year or less).
  • The company recognizes revenue primarily on a gross basis as a principal, with revenues recognized over time based on hours worked or invoiced amounts depending on contract type.
  • No client other than the U.S. federal government represented more than 10% of consolidated revenues in 2025.
  • The company supports employee engagement, professional development, and retention through training, mentorship, wellness programs, and competitive compensation and benefits.
Sources
Sources - Context summary

Generated 2026-05-03

Sources - Earning calls
Sources - Other context
Sources - SEC Filings
  • S1 | 2026-02-24 | 10-K
  • S2 | 2026-04-30 | 10-Q
Sources - News headlines
  • N1 | 2026-05-03 | www.nasdaq.com | Corn Posting Gains to Round Out the Week | https://www.nasdaq.com/articles/corn-posting-gains-round-out-week
  • N2 | 2026-05-03 | www.nasdaq.com | S&P 500 and Nasdaq 100 Post Record Highs on Solid Earnings | https://www.nasdaq.com/articles/sp-500-and-nasdaq-100-post-record-highs-solid-earnings
  • N3 | 2026-05-03 | www.nasdaq.com | Sugar Prices Rally on the Outlook for Lower Sugar Production | https://www.nasdaq.com/articles/sugar-prices-rally-outlook-lower-sugar-production
  • N4 | 2026-05-03 | www.nasdaq.com | Corn Closes Friday with Gains to Round Out the Week | https://www.nasdaq.com/articles/corn-closes-friday-gains-round-out-week
  • N5 | 2026-05-03 | www.nasdaq.com | Soybeans Trading with Friday Gains | https://www.nasdaq.com/articles/soybeans-trading-friday-gains-0
  • N6 | 2026-02-25 | www.nasdaq.com | Pick These 5 Bargain Stocks With Exciting EV-to-EBITDA Ratios | https://www.nasdaq.com/articles/pick-these-5-bargain-stocks-exciting-ev-ebitda-ratios
  • N7 | 2026-02-05 | www.nasdaq.com | ASGN Inc (ASGN) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates | https://www.nasdaq.com/articles/asgn-inc-asgn-q4-earnings-how-key-metrics-compare-wall-street-estimates
  • N8 | 2026-02-04 | www.nasdaq.com | ASGN (ASGN) Q4 2025 Earnings Call Transcript | https://www.nasdaq.com/articles/asgn-asgn-q4-2025-earnings-call-transcript
Important legal disclaimer

This material is for informational purposes only and does not constitute investment, financial, legal or tax advice, or an offer or solicitation to buy or sell any security. The Valye AI Score is a model-based estimate derived from public information and is subject to change without notice. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information herein. Past performance is not indicative of future results. Investors should conduct their own research and consult a qualified financial adviser before making any investment decisions.

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