# Korn Ferry (KFY)

> Source: Nexqual · https://nexqual.com/KFY · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Korn Ferry (KFY), nexqual.com/KFY" · informational, not investment advice.

**Price:** USD 78.3 (+2.55% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 76.35 · day 75.73–79.35 · 52w 58.95–87.51 · market cap $4.38B · NYQ

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $2.99B, net income $280M (9.4% margin), free cash flow $319M (SEC filings).
- Valuation: P/E 15.7x (avg 14.8x at the last 3 fiscal year-ends), EV/EBITDA 8.2x, net cash $418M.
- 2 of 80 tracked superinvestors hold KFY (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $982K; 4 not under a Rule 10b5-1 plan ($982K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.20 on a 1–5 scale) (5 analysts), mean target USD 90.25 (range 82–100).
- Total return with dividends: 1Y +13.7% vs S&P 500 +13.4%; 5Y +12.1% vs S&P 500 +76.9%.
- Next earnings: 2026-12-08, EPS estimate USD 1.36, revenue estimate $870M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.64B | $2.86B | $2.80B | $2.76B | $2.94B | $2.99B |
| Operating income | $470M | $316M | $213M | $346M | $375M | $385M |
| Net income | $326M | $210M | $169M | $246M | $277M | $280M |
| EPS (diluted) | $5.98 | $3.95 | $3.23 | $4.60 | $5.22 | — |
| Free cash flow | $452M | $274M | $229M | $302M | $324M | $319M |
| Operating margin | 17.8% | 11.0% | 7.6% | 12.5% | 12.8% | 12.9% |
| Net margin | 12.3% | 7.3% | 6.1% | 8.9% | 9.4% | 9.4% |
| Revenue growth | +45.2% | +8.3% | -2.4% | -1.2% | +6.4% | — |
| Cash + short-term investments | $1.04B | $889M | $984M | $1.04B | $1.13B | — |
| Total debt | $395M | $396M | $397M | $398M | $399M | — |
Fiscal years end Apr. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/E 15.7x · P/S 1.5x · EV/EBITDA 8.2x · EV/Sales 1.3x · P/FCF 13.7x · P/B 2.2x · FCF yield 7.27% · Earnings yield 6.39% · Dividend yield (paid, TTM) 2.48% · Buyback yield (TTM) 2.42% · Net cash $418M · EV $3.96B
P/E at fiscal year-ends: Apr 2026 12.6x, Apr 2025 13.2x, Apr 2024 18.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold KFY. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| John Rogers | Ariel Investments | 0.30% | $30.0M | Reduced -2.9% |
| Richard Pzena | Pzena Investment Management | 0.17% | $57.8M | Added +8.8% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-23 | Rozek Robert P | EVP, CFO & CCO | 3,709 | $278K | 2.3% | No | Too little history (no open-market trades in 2023) |
| 2026-07-17 | Martinez Angel R | Director | 3,740 | $295K | 11.7% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-16 | Uren Lesley | CEO of Consulting | 2,000 | $158K | 6.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-07-15 | Distefano Michael | See Remarks | 3,370 | $251K | 4% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.20 on a 1–5 scale), 5 analysts; mean target USD 90.25 (low 82, high 100).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-10 | UBS | Target raised | Neutral | $75 → $82 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +13.7% | +12.1% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +13.7% | +2.3% |
| Volatility (annualized) | 29.7% | 28.9% |
| Max drawdown | -17.7% (Aug 2026→Oct 2026) | -44.7% (Nov 2021→Oct 2023) |

## Peers (Staffing & Employment Services)
RHI (Robert Half Inc.) USD 45.87 +21.74% · TNET (TriNet Group, Inc.) USD 75.78 +1.55% · MAN (ManpowerGroup) USD 47.53 +2.00% · NSP (Insperity, Inc.) USD 54.44 +1.80% · KFRC (Kforce, Inc.) USD 58.5 +9.02% · KELYB (Kelly Services, Inc.) USD 26 +0.00%

## More
Full page: https://nexqual.com/KFY · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in KFY's own 10-K filed 2026-06-26 (https://www.sec.gov/Archives/edgar/data/56679/000005667926000021/kfy-20260430.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Alphabet (Google) (GOOGL) | "Competitors in these fields include Eightfold AI, Google for Jobs, HireVue, iCIMS, Indeed, Jobvite, LinkedIn, Paradox, Phenom, Symphony Talent and Yello." |

## Revenue by business segment (quarter ended 2026-04-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Consulting | $185.3M | 24.1% | +7.4% |
| Executive Search North America | $157.7M | 20.5% | +9.0% |
| Professional Search Interim | $150.4M | 19.6% | +14.2% |
| R P O | $98.7M | 12.9% | +4.1% |
| Digital | $89.7M | 11.7% | -2.1% |
| Executive Search EMEA | $54.4M | 7.1% | +1.2% |
| Executive Search Asia Pacific | $24.8M | 3.2% | +4.3% |
| Executive Search Latin America | $7.1M | 0.9% | +3.3% |
| Total revenue | $768.3M | 100% | — |

## Revenue by product line (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Fee revenue | $756.5M | 98.9% | +6.8% |
| Reimbursed out-of-pocket engagement expenses | $8.1M | 1.1% | +17.3% |
| Total revenue | $764.6M | 100% | — |

## Revenue by region (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| AMERICAS | $447.6M | 58.5% | +9.6% |
| EMEA | $229.6M | 30.0% | +3.9% |
| APAC | $87.5M | 11.4% | +1.5% |
| Total revenue | $764.6M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $1.36 | $1.45 | -6.2% | $870.3M | 3 |
| Next quarter (ends 2027-01-31) | $1.39 | $1.44 | -3.5% | $910.3M | 3 |
| Current fiscal year (ends 2027-04-30) | $5.66 | $5.78 | -2.1% | $3.50B | 3 |
| Next fiscal year (ends 2028-04-30) | $6.38 | $6.32 | +1.0% | $3.88B | 5 |