Korn Ferry (KFY)
Number of days of payables
| Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 40.20 | 48.42 | 34.62 | 25.60 | 17.67 | 6.98 | 6.03 | 5.00 | 5.25 | 3.96 | 2.76 | 2.57 | 2.39 | 2.38 | 1.91 | 1.82 | 2.27 | 2.84 | 3.21 | 2.86 | |
| Number of days of payables | days | 9.08 | 7.54 | 10.54 | 14.26 | 20.65 | 52.28 | 60.52 | 73.00 | 69.55 | 92.18 | 132.36 | 141.76 | 152.56 | 153.18 | 191.30 | 200.45 | 160.91 | 128.63 | 113.64 | 127.79 |
January 31, 2025 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 40.20
= 9.08
The data indicates a significant fluctuation in Korn Ferry’s number of days of payables over the analyzed period from April 2020 to January 2025. Initially, the payable days were relatively high, with 127.79 days as of April 2020, peaking at 200.45 days in April 2021. This trend suggests that during this period, the company was delaying payments to suppliers or vendors, possibly to conserve cash or manage cash flow constraints amid the economic uncertainties caused by the COVID-19 pandemic.
Following this peak, a gradual decline is observed, with payable days decreasing consistently from the second half of 2021 through 2022. By October 2022, the number of days of payables had reduced to 92.18 days, indicating a reduction in the company’s payment deferral period. The downward trend continued into 2023, reaching a smaller figure of 52.28 days in October 2023, which suggests that Korn Ferry has been reducing the time it takes to settle payables, possibly reflecting improved liquidity or a strategic effort to strengthen vendor relationships.
The most notable change occurs from late 2023 into early 2024, where the number of payable days drops sharply from 52.28 days in October 2023 to approximately 20.65 days in January 2024. This rapid reduction indicates a significant shift toward more prompt payment practices. The trend persists with minimal fluctuation, reaching 14.26 days in April 2024 and further decreasing to approximately 10.54 days in July 2024. By October 2024, the payable period is reduced further to 7.54 days, and it slightly increases again to 9.08 days in January 2025.
The overall pattern reflects a transition from extended payment periods during the earlier part of the analyzed timeframe, likely influenced by external economic pressures or cash management strategies, towards much shorter payable cycles in the most recent periods. The declining trend indicates an improving liquidity profile and a potential strategic shift toward more timely payments to suppliers, possibly driven by improved financial health, operational efficiencies, or changes in vendor credit terms.
Peer comparison
Jan 31, 2025