Korn Ferry Files 2024 Annual Report

TL;DR

Korn Ferry's 2024 10-K is in - check financials for the talent solutions giant.

AI Summary

Korn Ferry (KFY) filed its 10-K for the fiscal year ending April 30, 2024, detailing its financial performance and business operations. The company, headquartered in Los Angeles, CA, operates within the employment agencies sector. This filing provides a comprehensive overview of its fiscal year, including financial statements and business segment information.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed look into Korn Ferry's financial health and strategic direction for the fiscal year 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not contain immediate red flags or significant new risks.

Key Numbers

• 2024-04-30 — Fiscal Year End (The end date of the reporting period.)
• 2024-06-28 — Filing Date (The date the 10-K was officially filed with the SEC.)
• 001-14505 — SEC File Number (The company's SEC file number.)

Key Players & Entities

• KORN FERRY (company) — Filer
• 0001628280-24-030470 (filing_id) — Accession Number
• 20240430 (date) — Fiscal Year End
• LOS ANGELES, CA (location) — Business Address
• 7361 (sic_code) — Standard Industrial Classification

FAQ

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share KFY New York Stock Exchange
• $45.52 — based upon the closing market price of $45.52 on that date of a share of common stock
• $2,762.7 million — global economic environment, generating $2,762.7 million in fee revenue, down only 3% compared t
• $169.2 million — t Income Attributable to Korn Ferry was $169.2 million. 2 Operating income and Adjusted EBI
• $212.9 million — rating income and Adjusted EBITDA* were $212.9 million with a margin of 7.7%, and $408.2 milli
• $408.2 million — 12.9 million with a margin of 7.7%, and $408.2 million with a margin* of 14.8%, respectively.
• $3.23 — l 2024. Diluted Earnings Per Share was $3.23. Consulting and Digital showed resilie
• $420 — an 11% increase in average bill rate to $420 per hour. Digital fee revenue grew 3.4
• $131.0 million — iption & License fee revenue growing to $131.0 million in fiscal 2024. During fiscal 2024, we
• $46.7 million — For the full year, the Company invested $46.7 million in capital expenditures (excluding leas
• $18.5 million — improvements and furniture & fixtures), $18.5 million on debt service costs, and returned $52
• $52.5 million — ion on debt service costs, and returned $52.5 million and $54.4 million to shareholders in th
• $54.4 million — e costs, and returned $52.5 million and $54.4 million to shareholders in the form of share re
• $695.0 m — iscal 2024 highlights: Fee revenue was $695.0 million, an increase of 2.7% compared to
• $114.3 million — dated fee revenue. Adjusted EBITDA was $114.3 million and Adjusted EBITDA margin was 16.4%.

Filing Documents

• kfy-20240430.htm (10-K) — 2578KB
• kfy-20240430xexx1052.htm (EX-10.52) — 60KB
• kfy-20240430xexx1053.htm (EX-10.53) — 117KB
• kfy-20240430xexx191.htm (EX-19.1) — 72KB
• kfy-20240430xexx211.htm (EX-21.1) — 87KB
• kfy-20240430xexx231.htm (EX-23.1) — 4KB
• kfy-20240430xexx311.htm (EX-31.1) — 10KB
• kfy-20240430xexx312.htm (EX-31.2) — 10KB
• kfy-20240430xexx321.htm (EX-32.1) — 6KB
• kfy-20240430xexx971.htm (EX-97.1) — 10KB
• companya.jpg (GRAPHIC) — 66KB
• image_0.jpg (GRAPHIC) — 16KB
• kfy-20240430_g1.jpg (GRAPHIC) — 2KB
• kfy-20240430_g2.jpg (GRAPHIC) — 97KB
• 0001628280-24-030470.txt ( ) — 15737KB
• kfy-20240430.xsd (EX-101.SCH) — 94KB
• kfy-20240430_cal.xml (EX-101.CAL) — 139KB
• kfy-20240430_def.xml (EX-101.DEF) — 552KB
• kfy-20240430_lab.xml (EX-101.LAB) — 1091KB
• kfy-20240430_pre.xml (EX-101.PRE) — 870KB
• kfy-20240430_htm.xml (XML) — 2793KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 11 Item 1B Unresolved Staff Comments 25 Item 1C Cybersecurity 25 Item 2

Properties

Properties 27 Item 3

Legal Proceedings

Legal Proceedings 27 Item 4 Mine Safety Disclosures 27 Executive Officers Part II. Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29 Item 6 Reserved 30 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 46 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 46 Item 9A

Controls and Procedures

Controls and Procedures 47 Item 9B Other Information 47 Item 9C Disclosures Regarding Foreign Jurisdictions that Prevent Inspections 47 Part III. Item 10 Directors, Executive Officers and Corporate Governance 48 Item 11

Executive Compensation

Executive Compensation 48 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 48 Item 13 Certain Relationships and Related Transactions, and Director Independence 48 Item 14 Principal Accountant Fees and Services 48 Part IV. Item 15 Exhibits and Financial Statement Schedules 49 Item 16 Form 10-K Summary 52

Financial Statements and Financial Statement Schedules

Financial Statements and Financial Statement Schedules F- 1 PART I.

Business

Item 1. Business Company Overview Korn Ferry (referred to herein as the "Company" or in the first-person notations "we," "our," and "us") is a leading global organizational consulting firm. We work with our clients to design optimal organization structures, roles, and responsibilities. We help them hire the right people, focus on the right skills, and advise them on how to reward, engage and motivate their workforce while developing professionals as they navigate and advance their careers. The importance and strength of our brand A strong brand fosters familiarity and loyalty, builds trust, cultivates relationships, and has a lasting impact on sales velocity and growth which is why one of our strategic pillars is to continue to elevate ours. Originally known for our leading position in executive search, our brand recognition is growing and evolving to represent great workplaces and the people – the talent – behind them. Collaboration across our sales, marketing, research, and business teams has significantly boosted Korn Ferry's market recognition and strengthened our client connections. By curating our intellectual property, content, and data, and integrating them with our colleagues' expertise, we inspire and challenge conventional workplace viewpoints. Career makers and business advisors, the impact we create spans entire organizations, but always starts with people. The inspiration we put out into the world is to Be More Than . Be More Than is about identifying and unleashing potential. Bring the right opportunity, to the right person, at the right time and it will change their world. Get people focused, aligned, believing and working together and it can change the world. The principles behind Be More Than guide our thinking and behavior and represent our commitment to our clients and to each other. We help unleash potential in people to enable thriving, high-performing teams that collectively power sustainable growth and transform businesses. Underpinnin

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View this 10-K filing on SEC EDGAR