Korn Ferry (KFY)
Fixed asset turnover
| Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 2,799,652 | 2,837,862 | 2,847,763 | 2,870,730 | 2,867,066 | 2,855,195 | 2,852,598 | 2,759,792 | 2,644,490 | 2,474,696 | 2,267,513 | 2,061,862 | 1,820,489 | 1,711,990 | 1,762,111 | 1,828,348 | 1,977,628 | 2,031,096 | 1,989,110 | 1,991,712 |
| Property, plant and equipment | US$ in thousands | 161,849 | 163,600 | 165,815 | 166,283 | 161,876 | 154,983 | 153,041 | 147,117 | 138,172 | 131,198 | 126,500 | 129,056 | 131,778 | 134,226 | 136,035 | 139,930 | 142,728 | 143,230 | 140,685 | 137,367 |
| Fixed asset turnover | 17.30 | 17.35 | 17.17 | 17.26 | 17.71 | 18.42 | 18.64 | 18.76 | 19.14 | 18.86 | 17.93 | 15.98 | 13.81 | 12.75 | 12.95 | 13.07 | 13.86 | 14.18 | 14.14 | 14.50 |
April 30, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $2,799,652K ÷ $161,849K
= 17.30
The fixed asset turnover ratio for Korn Ferry has shown a consistent trend of improvement over the past few quarters, indicating increasing efficiency in generating revenue from its fixed assets. The ratio has generally ranged between 12.75 to 19.14 over the past two years.
There was a notable peak in fixed asset turnover in the third quarter of fiscal year 2023, where it reached 19.14, suggesting that the company was able to generate $19.14 in revenue for every dollar invested in fixed assets at that time. This trend of improvement continued until the first quarter of fiscal year 2023, where the ratio hit its highest point of 18.76.
However, there was a slight dip in fixed asset turnover in the second and third quarters of fiscal year 2023, but it picked up again in the fourth quarter, reaching 17.26. The ratio then fluctuated slightly over the next few quarters but generally remained at a relatively high level, indicating ongoing efficiency in utilizing fixed assets to drive revenue.
Overall, Korn Ferry's fixed asset turnover performance reflects a strong ability to maximize the productivity of its fixed assets to generate revenue, which is a positive sign of operational efficiency and effective asset management within the company.
Peer comparison
Apr 30, 2024