10-K · June 26, 2026
Korn Ferry's fiscal year 2026 results highlight substantial revenue growth of 7% year-over-year to $2.91 billion, boosted by diverse sectors such as Professional Search & Interim and Executive Search. The company also…
Earnings analysis · 10-Q
KFY earnings analysis
Filed September 9, 2026 · Our reading of the company's report
The latest report
The supplied 10-Q excerpt does not include the income statement, segment disclosures, balance-sheet totals, or cash-flow statement, so revenue, margins, EPS, free cash flow, and segment trends cannot be determined from…
Read full summary
The supplied 10-Q excerpt does not include the income statement, segment disclosures, balance-sheet totals, or cash-flow statement, so revenue, margins, EPS, free cash flow, and segment trends cannot be determined from the filing text provided. The disclosed market-risk profile was broadly stable: foreign-currency losses were $0.9 million in both comparable quarters, COLI borrowings declined slightly to $72.1 million, and Facility borrowings were zero. Management reported effective disclosure controls, while the filing stated that there were no material changes to the Form 10-K risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Currency losses unchanged
Foreign-currency losses were $0.9 million in both the three months ended July 31, 2026 and July 31, 2025, indicating no year-over-year change in the reported transaction-loss impact.
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No Facility borrowings
The company had no amounts outstanding under its Facility as of July 31, 2026, limiting direct exposure to variable-rate Facility borrowings.
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COLI borrowings broadly stable
Borrowings against the CSV of COLI contracts were $72.1 million at July 31, 2026 versus $72.2 million at April 30, 2026, a $0.1 million decrease.
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Currency sensitivity quantified
A 10% increase or decrease in the ten largest currency exposure balances could result in a foreign-exchange gain or loss of $15.8 million, and the company uses foreign-currency forward contracts to offset certain exposures.
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Repurchase authorization unused
The company withheld 330,514 shares for taxes on vested restricted shares during the quarter, while reporting no share repurchases under its program during the first quarter of fiscal 2027; $227.7 million remained available under the program.
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Controls assessed effective
Management concluded that disclosure controls and procedures were effective as of July 31, 2026, and reported no changes in internal control that materially affected or were reasonably likely to materially affect reporting.
What to watch
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Material foreign-exchange exposure
The filing quantifies foreign-exchange exposure at a potential $15.8 million gain or loss for a 10% move in the relevant currencies. Foreign-currency losses were already $0.9 million in each of the three months ended July 31, 2026 and 2025.
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Variable-rate COLI debt
Borrowings against COLI contract cash surrender value totaled $72.1 million as of July 31, 2026 and bear interest primarily at variable rates, exposing results to changes in interest costs despite the offsetting crediting-rate adjustment.
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Covenant limits capital returns
The 10-Q states there were no material changes to the Form 10-K risk factors, but the A&R Credit Agreement limits dividends and repurchases if the consolidated net leverage ratio exceeds 5.00 to 1.00 or the company is not in pro forma covenant compliance.
Management's outlook
The supplied 10-Q excerpt does not contain quantitative revenue or EPS guidance. The filing states that there were no material changes to the risk factors described in the Form 10-K.
Earlier filings 4
10-Q · March 11, 2026
Korn Ferry reported Q3 revenue of $725,042,000 and diluted EPS of $1.23 for the three months ended January 31, 2026. Revenue and operating income improved year-over-year, while revenue, gross and operating margins…
10-Q · December 9, 2025
Korn Ferry reported quarterly revenue of $729.8M (three months ended October 31, 2025) vs $681.96M a year ago, driving higher operating income of $98.755M and diluted EPS of $1.36. Operating margin expanded to ~13.54%…
10-Q · September 9, 2025
Korn Ferry reported a quarterly revenue beat with total revenue of $715,543,000 (vs $682,761,000 a year ago), driving higher operating income and diluted EPS. Operating income increased to $83,448,000 and diluted EPS to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.