ASGN Reports $3.98 Billion Revenue for Fiscal Year 2025, Decline of 2.9%

ASGN Incorporated reported a revenue of $3.98 billion for the fiscal year ending December 31, 2025, reflecting a decline of 2.9% compared to $4.10 billion in 2024. The decrease was primarily attributed to a 13.8% drop in assignment revenues, which totaled $1.5 billion, while consulting revenues increased by 14.4% to $1.29 billion. The Federal Government Segment also experienced a revenue decline of 3.3%, generating $1.19 billion, largely due to the loss of certain contracts. The company's net income fell to $113.5 million, down from $175.2 million in the previous year, resulting in diluted earnings per share of $2.60.

In terms of operational metrics, ASGN's total IT consulting services revenues reached $2.5 billion, accounting for 62.3% of total revenues, marking a 5.1% increase year-over-year. The company maintained a contract backlog of approximately $2.9 billion as of December 31, 2025, which represents future revenues from awarded contracts. The Federal Government Segment's backlog included $492.9 million in funded contracts, while the unfunded backlog was $2.5 billion. The company employed approximately 19,600 billable professionals, alongside 2,800 internal employees, reflecting a stable workforce to support its operations.

Strategically, ASGN announced its intent to rebrand as Everforth in November 2025, aiming to unify its six brands under a single identity. This transition is expected to take place in the first half of 2026. The company has also pursued growth through acquisitions, completing six in the past five years, with the most recent being TopBloc, acquired for $340 million in March 2025. This acquisition is anticipated to enhance ASGN's capabilities in the Commercial Segment, particularly in tech-enabled consulting services.

The company’s financial outlook remains cautious, with management noting that macroeconomic conditions, including rising interest rates and government efficiency initiatives, have impacted revenue growth. ASGN plans to continue focusing on high-value IT consulting services while exploring further strategic acquisitions to enhance its service offerings. The company has also initiated a stock repurchase program, with approximately $972 million remaining for future buybacks, reflecting its commitment to returning value to shareholders despite the recent decline in profitability.