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KFY Korn Ferry

Korn Ferry is a global organizational consulting firm. The Company works with our clients to design optimal organization structures, roles, and responsibilities. The Company helps them hire the right people and advise them on how to reward and motivate their workforce while developing professionals as they navigate and advance their careers.

Company profile

Ticker
KFY
Exchange
CEO
Gary Burnison
Employees
Incorporated
Location
Fiscal year end
Former names
KORN FERRY INTERNATIONAL
SEC CIK
IRS number
952623879

KFY stock data

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Calendar

28 Jun 21
28 Jul 21
30 Apr 22
Quarter (USD)
Apr 21 Jan 21 Oct 20 Jul 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Apr 21 Apr 20 Apr 19 Apr 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Korn Ferry earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
13 Jul 21 Mulrooney Byrne K Common Stock, par value $0.01 per share Sell Dispose S No Yes 68.5787 1,030 70.64K 110,595
12 Jul 21 Mulrooney Byrne K Common Stock, par value $0.01 per share Sell Dispose S No Yes 68.9441 1,359 93.7K 111,625
12 Jul 21 Mulrooney Byrne K Common Stock, par value $0.01 per share Sell Dispose S No Yes 68.4754 6,212 425.37K 112,984
12 Jul 21 Mulrooney Byrne K Common Stock, par value $0.01 per share Payment of exercise Dispose F No No 69.02 1,448 99.94K 119,196
12 Jul 21 Burnison Gary D Common Stock, par value $0.01 per share Payment of exercise Dispose F No No 69.02 4,343 299.75K 326,046
12 Jul 21 Rozek Robert P Commmon Stock, par value $0.01 per share Payment of exercise Dispose F No No 69.02 1,851 127.76K 148,693
9 Jul 21 Rozek Robert P Common Stock, par value $0.01 per share Grant Aquire A No No 0 10,870 0 150,544
9 Jul 21 Rozek Robert P Common Stock, par value $0.01 per share Payment of exercise Dispose F No No 69.02 4,802 331.43K 139,674
9 Jul 21 Rozek Robert P Common Stock, par value $0.01 per share Payment of exercise Dispose F No No 69.02 8,671 598.47K 144,476
9 Jul 21 Rozek Robert P Common Stock, par value $0.01 per share Grant Aquire A No No 0 19,910 0 153,147

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

93.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 213 200 +6.5%
Opened positions 39 44 -11.4%
Closed positions 26 22 +18.2%
Increased positions 52 54 -3.7%
Reduced positions 92 73 +26.0%
13F shares
Current Prev Q Change
Total value 3.15B 2.2B +43.0%
Total shares 50.54M 50.64M -0.2%
Total puts 3.8K 10.2K -62.7%
Total calls 19.5K 6.2K +214.5%
Total put/call ratio 0.2 1.6 -88.2%
Largest owners
Shares Value Change
BLK Blackrock 8.63M $538.08M +4.6%
Vanguard 5.62M $350.22M +1.2%
Dimensional Fund Advisors 3.28M $204.8M -3.9%
Victory Capital Management 2.56M $159.75M -2.0%
Alliancebernstein 2.14M $133.21M +2239.5%
TROW T. Rowe Price 2.03M $126.38M +35.3%
IVZ Invesco 1.93M $120.6M -12.3%
American Century Companies 1.85M $115.23M +26.5%
STT State Street 1.72M $107.55M +1.4%
WFC Wells Fargo & Co. 1.37M $85.33M -18.8%
Largest transactions
Shares Bought/sold Change
Alliancebernstein 2.14M +2.04M +2239.5%
Norges Bank 0 -767.45K EXIT
TROW T. Rowe Price 2.03M +528.26K +35.3%
American Century Companies 1.85M +386.84K +26.5%
BLK Blackrock 8.63M +382.04K +4.6%
NTRS Northern Trust 962.6K -377.6K -28.2%
Third Avenue Management 0 -358.47K EXIT
WFC Wells Fargo & Co. 1.37M -316.24K -18.8%
IVZ Invesco 1.93M -271.09K -12.3%
Thompson Siegel & Walmsley 0 -262.16K EXIT

Financial report summary

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Risks
  • Our inability to successfully recover should we experience a disaster or other business continuity problem could cause material financial loss, loss of human capital, regulatory actions, reputational harm or legal liability.
  • We are limited in our ability to recruit candidates from certain of our clients due to off-limit agreements with those clients and for client relation and marketing purposes; such limitations could harm our business.
  • Failure to attract and retain qualified and experienced consultants, could result in a loss of clients which in turn could cause a decline in our revenue and harm to our business.
  • Failing to maintain our professional reputation and the goodwill associated with our brand name could seriously harm our business.
  • As we develop new services, clients and practices, enter new lines of business, and focus more of our business on providing a full range of client solutions, the demands on our business and our operating and legal risks may increase.
  • Our business and operations are impacted by developing laws and regulations, as well as evolving investor and customer expectations with regard to environmental matters, including the impacts and actions needed to address climate change.
  • Risks Related To Our Profitability
  • We may not be able to align our cost structure with our revenue level, which in turn may require additional financing in the future that may not be available at all or may be available only on unfavorable terms.
  • Our financial results could suffer if we are unable to achieve or maintain adequate utilization and suitable billing rates for our consultants.
  • The profitability of our fixed-fee engagements with clients may not meet our expectations if we underestimate the cost of these engagements when pricing them.
  • Foreign currency exchange rate risks affect our results of operations.
  • We have deferred tax assets that we may not be able to use under certain circumstances.
  • Risks Related to Our Financing/Indebtedness
  • Our indebtedness could adversely affect our financial condition, our ability to operate our business, react to changes in the economy or our industry, prevent us from fulfilling our obligations under our indebtedness and could divert our cash flow from operations for debt payments.
  • Despite our indebtedness levels, we and our subsidiaries may still incur substantially more debt, which could further exacerbate the risks associated with our substantial leverage.
  • We may be unable to service our indebtedness.
  • The agreements governing our debt impose significant operating and financial restrictions on us and our subsidiaries, which may prevent us from capitalizing on business opportunities.
  • A decline in our operating results or available cash could cause us to experience difficulties in complying with covenants contained in more than one agreement, which could result in our bankruptcy or liquidation.
  • Social media platforms present risks and challenges that can cause damage to our brand and reputation.
  • Technological advances may significantly disrupt the labor market and weaken demand for human capital at a rapid rate.
  • We have invested in specialized technology and other IP for which we may fail to fully recover our investment, or which may become obsolete.
  • We rely heavily on our information systems, and if we lose that technology, or fail to further develop our technology, our business could be harmed.
  • We are subject to risk as it relates to software that we license from third parties.
  • We are dependent on third parties for the execution of certain critical functions.
  • Cyber security vulnerabilities and incidents have and may again lead to the improper disclosure of information obtained from our clients, candidates and employees, which could result in liability and harm to our reputation.
  • Data security, data privacy and data protection laws, such as the European Union General Data Protection Regulation (“GDPR”), and other evolving regulations and cross-border data transfer restrictions, may limit the use of our services, increase our costs and adversely affect our business.
  • Acquisitions, or our inability to effect acquisitions, may have an adverse effect on our business.
  • As a result of our acquisitions, we have substantial amounts of goodwill and intangible assets, and changes in business conditions could cause these assets to become impaired, requiring write-downs that would adversely affect our operating results.
  • We are a cyclical company whose performance is tied to local and global economic conditions.
  • We face risks associated with social and political instability, legal requirements and economic conditions in our international operations.
  • The United Kingdom’s withdrawal from the E.U. may adversely impact our operations in the United Kingdom and elsewhere.
  • The interest rates under our Credit Agreement may be impacted by the phase-out of LIBOR.
  • You may not receive the level of dividends provided for in the dividend policy our Board of Directors has adopted or any dividends at all.
  • Our dividend policy may limit our ability to pursue growth opportunities.
  • Risks Related to our Stockholders
  • We have provisions that make an acquisition of us more difficult and expensive.
  • Failing to retain our executive officers and key personnel or integrate new members of our senior management who are critical to our business may prevent us from successfully managing our business in the future.
  • Changes in our accounting estimates and assumptions and other financial and nonfinancial reporting standard could negatively affect our financial position and results of operations.
  • Unfavorable tax laws, tax law changes and tax authority rulings may adversely affect results.
  • Limited protection of our IP could harm our business, and we face the risk that our services or products may infringe upon the IP rights of others.
  • We may not be able to successfully integrate or realize the expected benefits from our acquisitions.
  • Businesses we acquire may have liabilities or adverse operating issues that could harm our operating results.
  • We may be subject to the actions of activist stockholders, which could disrupt our business.
Management Discussion
  • Fee Revenue. Fee revenue decreased by $122.7 million, or 6.3%, to $1,810.0 million in fiscal 2021 compared to $1,932.7 million in fiscal 2020. Exchange rates favorably impacted fee revenue by $21.6 million, or 1%, in fiscal 2021 compared to fiscal 2020. The lower fee revenue was attributable to decreases in our Executive Search, Digital and Consulting lines of business primarily due to the impact of COVID-19 on economies in which we operate in fiscal 2021, partially offset by fee revenue generated from the growth in RPO & Professional Search.
  • Consulting. Consulting reported fee revenue of $515.8 million in fiscal 2021, a decrease of $27.3 million, or 5%, compared to $543.1 million in fiscal 2020. The decrease was primarily due to the contraction in economic activity due to COVID-19. Exchange rates favorably impacted fee revenue by $5.6 million, or 1%, compared to fiscal 2020
  • Digital. Digital reported fee revenue of $287.3 million in fiscal 2021, a decrease of $5.1 million, or 2%, compared to $292.4 million in fiscal 2020. The lower fee revenue was primarily due to the contraction in economic activity due to COVID-19. Exchange rates favorably impacted fee revenue by $3.0 million, or 1%, compared to fiscal 2020.
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