What is Korn Ferry worth?
With the base-case assumptions below, a discounted cash flow model on Korn Ferry's reported free cash flow gives $160.31 per share. The share price was $71.73 on September 25, 2026, 55% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 5.0% | 10.0% | $101.03 | +41% |
| Base | 10.0% | 9.0% | $160.31 | +123% |
| Bull | 15.0% | 8.0% | $270.87 | +278% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $204.00 | $217.48 | $233.95 | $254.53 | $281.00 |
| 8.0% | $171.29 | $180.03 | $190.36 | $202.75 | $217.90 |
| 9.0% | $147.44 | $153.41 | $160.31 | $168.35 | $177.85 |
| 10.0% | $129.31 | $133.55 | $138.37 | $143.87 | $150.22 |
| 11.0% | $115.08 | $118.20 | $121.68 | $125.59 | $130.03 |
Where the presets come from
Base: years 1 to 5 grow at Korn Ferry's revenue growth rate over the last 5 fiscal years (10.1% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions