Everforth IncEFOR
Everforth Inc Segments Disclosure
ASGN provides IT solutions across the commercial and government sectors. ASGN operates through two segments, Commercial and Federal Government. The Commercial Segment, which is the largest segment, provides consulting, creative digital marketing, and permanent placement services primarily to Fortune 1000 and large mid-market companies. The Federal Government Segment provides advanced IT solutions in data and AI, cybersecurity, and enterprise transformation to the following four customer types: (i) Defense and Intelligence, (ii) National Security, (iii) Federal Civilian, and (iv) other clients. Virtually all of the Company's revenues are generated in the United States.
The Company's chief executive officer ("CEO") is the chief operating decision maker and he reviews revenues, gross profit and operating income for each segment. He also considers forecast-to-actual variances on a monthly basis for these financial measures when making decisions about allocating resources to the segments and uses these segment financial measures in the annual budget process. The CEO does not evaluate, manage or measure performance of segments using asset information. Accordingly, assets by reportable segment are not disclosed. Segment information is as follows (in millions):
| Year Ended December 31, 2025 | ||||||||||||||||||||
| Commercial | Federal Government | Total | ||||||||||||||||||
| Revenues | ||||||||||||||||||||
| Consulting | $ | 1,290.1 | $ | 1,190.2 | $ | 2,480.3 | ||||||||||||||
| Assignment | 1,500.1 | — | 1,500.1 | |||||||||||||||||
| 2,790.2 | 1,190.2 | 3,980.4 | ||||||||||||||||||
| Costs of services | 1,875.8 | 955.5 | 2,831.3 | |||||||||||||||||
| Gross profit | 914.4 | 234.7 | 1,149.1 | |||||||||||||||||
| Segment depreciation and other amortization | 39.3 | 5.9 | 45.2 | |||||||||||||||||
| Other segment expenses | 587.6 | 110.1 | 697.7 | |||||||||||||||||
| Segment SG&A expenses | 626.9 | 116.0 | 742.9 | |||||||||||||||||
| Amortization of intangible assets | 39.4 | 25.4 | 64.8 | |||||||||||||||||
| Segment operating income | 248.1 | 93.3 | 341.4 | |||||||||||||||||
| Corporate SG&A expenses | 111.1 | |||||||||||||||||||
| Operating income | 230.3 | |||||||||||||||||||
| Interest expense, net | 67.7 | |||||||||||||||||||
| Income before taxes | 162.6 | |||||||||||||||||||
| Provision for income taxes | 49.1 | |||||||||||||||||||
| Net income | $ | 113.5 | ||||||||||||||||||
| Year Ended December 31, 2024 | ||||||||||||||||||||
| Commercial | Federal Government | Total | ||||||||||||||||||
| Revenues | ||||||||||||||||||||
| Consulting | $ | 1,128.2 | $ | 1,231.0 | $ | 2,359.2 | ||||||||||||||
| Assignment | 1,740.5 | — | 1,740.5 | |||||||||||||||||
| 2,868.7 | 1,231.0 | 4,099.7 | ||||||||||||||||||
| Costs of services | 1,935.8 | 980.2 | 2,916.0 | |||||||||||||||||
| Gross profit | 932.9 | 250.8 | 1,183.7 | |||||||||||||||||
| Segment depreciation and other amortization | 29.6 | 5.0 | 34.6 | |||||||||||||||||
| Other segment expenses | 588.3 | 121.0 | 709.3 | |||||||||||||||||
| Segment SG&A expenses | 617.9 | 126.0 | 743.9 | |||||||||||||||||
| Amortization of intangible assets | 28.5 | 29.6 | 58.1 | |||||||||||||||||
| Segment operating income | 286.5 | 95.2 | 381.7 | |||||||||||||||||
| Corporate SG&A expenses | 77.3 | |||||||||||||||||||
| Operating income | 304.4 | |||||||||||||||||||
| Interest expense, net | 64.3 | |||||||||||||||||||
| Income before taxes | 240.1 | |||||||||||||||||||
| Provision for income taxes | 64.9 | |||||||||||||||||||
| Net income | $ | 175.2 | ||||||||||||||||||
| Year Ended December 31, 2023 | ||||||||||||||||||||
| Commercial | Federal Government | Total | ||||||||||||||||||
| Revenues | ||||||||||||||||||||
| Consulting | $ | 1,095.5 | $ | 1,276.2 | $ | 2,371.7 | ||||||||||||||
| Assignment | 2,078.9 | — | 2,078.9 | |||||||||||||||||
| 3,174.4 | 1,276.2 | 4,450.6 | ||||||||||||||||||
| Costs of services | 2,156.8 | 1,013.8 | 3,170.6 | |||||||||||||||||
| Gross profit | 1,017.6 | 262.4 | 1,280.0 | |||||||||||||||||
| Segment depreciation and other amortization | 20.3 | 4.3 | 24.6 | |||||||||||||||||
| Other segment expenses | 618.4 | 122.0 | 740.4 | |||||||||||||||||
| Segment SG&A expenses | 638.7 | 126.3 | 765.0 | |||||||||||||||||
| Amortization of intangible assets | 34.8 | 36.9 | 71.7 | |||||||||||||||||
| Segment operating income | 344.1 | 99.2 | 443.3 | |||||||||||||||||
| Corporate SG&A expenses | 79.2 | |||||||||||||||||||
| Operating income | 364.1 | |||||||||||||||||||
| Interest expense, net | 66.4 | |||||||||||||||||||
| Income before taxes | 297.7 | |||||||||||||||||||
| Provision for income taxes | 78.4 | |||||||||||||||||||
| Net income | $ | 219.3 | ||||||||||||||||||
______
Costs of services include an immaterial amount of depreciation expense.
Other segment expenses include compensation-related expenses, rent, marketing, and other general and administrative expenses.
Corporate SG&A expenses include compensation-related expenses, stock-based compensation, depreciation, acquisition, integration and strategic planning expenses, and public company expenses.
Substantially all of the revenues from the Commercial Segment are generated from T&M contracts. Federal Government Segment revenues by contract type are as follows (in millions):
| Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| FFP | $ | 348.7 | $ | 367.7 | $ | 386.7 | ||||||||||||||
| T&M | 474.6 | 522.0 | 504.9 | |||||||||||||||||
| Cost reimbursable | 366.9 | 341.3 | 384.6 | |||||||||||||||||
| $ | 1,190.2 | $ | 1,231.0 | $ | 1,276.2 | |||||||||||||||
Federal Government Segment revenues by customer type are as follows (in millions):
| Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| Department of Defense and Intelligence Agencies | $ | 526.0 | $ | 560.1 | $ | 614.6 | ||||||||||||||
| National Security | 310.0 | 279.4 | 276.2 | |||||||||||||||||
| Federal Civilian | 224.9 | 267.2 | 261.6 | |||||||||||||||||
| Other | 129.3 | 124.3 | 123.8 | |||||||||||||||||
| $ | 1,190.2 | $ | 1,231.0 | $ | 1,276.2 | |||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 24, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Mar 2, 2020 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Feb 29, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.