KORN FERRY financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KORN FERRY files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	1,622	1,820	1,974	1,977	1,820	2,643	2,864	2,796	2,761	2,939
Cost of revenue	71.5	73.7
Gross profit	1,550	1,746
General and administrative	226	237	352	259	192	237	268	259	258	248
Operating income	120	208	141	176	156	470	316	213	346	375
Other non-operating income	10.3	11.4	10.4	-2.88	37.2	-11.9	5.26	30.7	19	33.7
Pre-tax income	116	206	134	151	164	433	296	223	345	388
Income tax	29.1	70.1	29.5	43.9	48.1	102	82.7	50.1	93.8	108
Net income to minority interests	3.06	2.12	2.15	2.07	1.11	4.49	3.53	3.41	5.01	3.39
Net income	84.2	134	103	105	114	326	210	169	246	277
EBITDA	168	257	187	231	218	534	385	291	427	474
EPS, basic	1.48	2.39	1.84	1.91	2.11	6.04	3.98	3.25	4.69	5.33
EPS, diluted	1.47	2.35	1.81	1.90	2.09	5.98	3.95	3.23	4.60	5.22
Shares, basic (weighted)	56.2	55.4	55.3	54.3	52.9	52.8	51.5	51	51.8	51.4
Shares, diluted (weighted)	56.9	56.3	56.1	54.8	53.4	53.4	51.9	51.4	52.8	52.5
Dividend per share	0.40	0.40	0.40	0.40	0.40	0.48	0.60	1.02	1.59	1.99

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	411	521	626	689	851	978	844	941	1,007	1,095
Short-term investments	4.36	14.3	8.29	42	63.7	57.2	44.8	42.7	36.4	38.9
Receivables	345	385	405	397	449	590	570	541	565	573
Other current assets	51.5	27.7	28.5	26.9	30.7	41.8	49.2	49.5	41.5	58.4
Total current assets	844	1,014	1,137	1,237	1,487	1,760	1,639	1,674	1,750	1,906
Property, plant and equipment	110	120	132	143	132	138	162	162	174	192
Lease right-of-use assets				195	174	168	143	160	153	171
Goodwill	577	584	578	614	627	726	909	908	949	951
Intangible assets	217	203	82.9	112	92.9	89.8	114	88.8	70.2	45.9
Long-term investments	116	123	132	132	183	176	179	212	234	247
Total assets	2,063	2,288	2,335	2,744	3,057	3,465	3,574	3,679	3,861	4,065
Accounts payable	37.5	35.2	39.2	45.7	45	50.9	53.4	50.1	58.9	49.7
Accrued liabilities	248	305	329	281	395	548	533	525	530	570
Short-term debt	19.8	24.9
Total current liabilities	459	558	551	624	750	984	976	935	956	982
Long-term debt	236	211	223	394	395	395	396	397	398	399
Lease liabilities				181	156	151	119	144	132	165
Other non-current liabilities	54.1	61.7	58.9	30.8	36.6	24.2	27.9	21.6	20.2	23.9
Total liabilities	976	1,068	1,091	1,520	1,688	1,915	1,921	1,942	1,989	2,086
Total debt	256	236	223	394	395	395	396	397	398	399
Paid-in capital	693	684	656	586	583	502	430	415	364	284
Retained earnings	462	573	661	743	835	1,135	1,311	1,426	1,588	1,761
Other comprehensive income	-71.1	-40.1	-76.7	-107	-51.8	-92.2	-92.8	-108	-86.2	-72.8
Shareholders' equity	1,083	1,217	1,241	1,221	1,366	1,544	1,648	1,733	1,866	1,973
Minority interests	3.61	3.01	2.73	2.31	2.39	5.24	4.93	4.27	5.68	6.3
Total equity	1,087	1,220	1,243	1,224	1,369	1,550	1,653	1,737	1,872	1,979
Total liabilities and equity	2,063	2,288	2,335	2,744	3,057	3,465	3,574	3,679	3,861	4,065
Shares outstanding	56.9	56.5	56.4	54.5	54	53.2	52.3	52	51.5	50.2

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	87.2	136	105	107	116	331	213	173	251	281
Depreciation and amortization	47.3	48.6	46.5	55.3	61.8	63.5	68.3	78	80.3	98.8
Stock-based compensation	19	21.5	23.4	22.8	27.2	29.2	36.3	40	48	47.7
Deferred income tax	6.59	-6.56	-27.8	-9.33	-14.1	-17	-14.4	-32.3	-6.4	31.8
Change in receivables	-42.3	-53.4	-30.6	34.2	-67.3	-139	33.5	7.87	-33.2	-24.4
Change in payables	5.42	66.1	28.4	-6.01	123	191	-27.8	-54.7	-1.98	36
Cash from operations	106	219	259	236	251	502	344	284	364	414
Capital expenditures	-50.1	-42	-46.7	-41.5	-31.1	-49.4	-70.4	-55.1	-62.5	-89.9
Acquisitions	-2.88			-109	0	-134	-255	0	-44.4	0
Purchases of investments	-10.5	-9.46	-9.48	-83.6	-103	-82	-53.5	-45.8	-39.5	-36.9
Sales and maturities of investments	42.8	2.64	13.8	47.9	69.7	92.5	65.9	46	41.9	53
Cash from investing	-20.6	-44.8	-69.5	-199	-61.4	-184	-323	-53.8	-125	-98.7
Debt issued	275		227	1,046
Debt repaid	-155	-20.6	-239	-877
Share buybacks	-28.8	-33.1	-37.4	-92.4	-30.4	-96.3	-95.5	-53.2	-88.8	-116
Dividends paid	-23.3	-23	-23.5	-22.8	-22.5	-26.8	-33	-54.4	-83.6	-105
Cash from financing	64.4	-77.3	-64.6	43.7	-66.9	-137	-152	-116	-191	-238
Exchange rate effect	-12.3	12.9	-19.2
Net change in cash	138	110	106	62.9	162	127	-134	97	66	88.5
Free cash flow	56.1	177	212	195	220	452	274	229	302	324
Interest paid	10.9	11.9	14.2	12.5	25.2	24.6	25.4	25	25.2	24.8
Income taxes paid	32.5	37.5	58.4	54.9	55.3	108	135	72.1	107	89.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $71.73 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	12.9%	Operating income / revenue.
EBITDA margin	16.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	13.1%	Pre-tax income / revenue.
Net margin	9.4%	Net income / revenue.
FCF margin	10.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.5%	Cash from operations / revenue.
Effective tax rate	27.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	14.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.3%	Net income / average total assets.
Return on invested capital (ROIC)	17.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	1.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.9%	Capital expenditures / revenue.
D&A / revenue	3.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	8.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	5.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	19.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	11.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	7.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	16.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	12.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	9.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	19.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	13.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	9.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	20.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	13.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	10.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	7.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	5.8%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	8.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	25.2%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	49.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	37.8%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	5.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	7.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	4.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.37x	Current assets / current liabilities.
Quick ratio	2.07x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.18x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.20x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	10.4%	Total debt / total assets.
Liabilities / assets	47.6%	Total liabilities / total assets.
Net debt	-$417.5M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.86x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$947.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	25.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.01B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.78x	Revenue / average total assets.
Fixed asset turnover	15.4x	Revenue / average property, plant and equipment.
Receivables turnover	4.86x	Revenue / average receivables.
Days sales outstanding	75 days	365 x average receivables / revenue.
FCF conversion	113.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	21.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.45	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$58.19	Revenue / diluted weighted shares.
FCF per share	$6.21	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.87	Cash from operations / diluted weighted shares.
Book value per share	$39.27	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$19.86	Tangible book value / shares outstanding.
Cash per share	$16.07	(Cash + short-term investments) / shares outstanding.
Payout ratio	38.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	34.1%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	33.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$3.68B	Share price x shares outstanding.
Enterprise value	$3.27B	Market cap + total debt - cash - short-term investments.
P/E	13.2x	Market cap / net income. Only when net income is positive.
P/S	1.23x	Market cap / revenue.
P/B	1.85x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.65x	Market cap / tangible book value, when positive.
P/FCF	11.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.12x	Market cap / cash from operations, when positive.
EV/Sales	1.09x	Enterprise value / revenue.
EV/EBIT	8.49x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.76x	Enterprise value / EBITDA, when both are positive.
EV/FCF	10.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	8.7%	Free cash flow / market cap.
Earnings yield	7.6%	Net income / market cap (the inverse of P/E).
Dividend yield	2.9%	Dividends paid over the period / market cap.
Shareholder yield	5.8%	(Dividends paid + share buybacks) / market cap.
PEG	1.35x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was KORN FERRY's revenue in fiscal 2026?

KORN FERRY reported revenue of $2.94B for fiscal 2026, 6.4% higher than the year before.

Was KORN FERRY profitable in fiscal 2026?

Yes. Net income was $277.4M, a net margin of 9.4%.

How much free cash flow did KORN FERRY generate in fiscal 2026?

Cash from operations of $414.2M minus capital expenditures of $89.9M left free cash flow of $324.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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