Korn Ferry (KFY)
Cash ratio
| Apr 30, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 1,006,960 | 779,298 | 694,850 | 633,376 | 941,005 | 736,797 | 620,836 | 562,209 | 844,024 | 771,898 | 593,900 | 639,784 | 978,070 | 846,505 | 725,391 | 649,304 | 850,778 | 694,128 | 553,109 | 542,786 |
| Short-term investments | US$ in thousands | 36,388 | 40,658 | 40,658 | 40,626 | 42,742 | 45,727 | 26,149 | 29,486 | 44,837 | 48,253 | 59,188 | 71,172 | 57,244 | 73,110 | 77,496 | 68,247 | 63,667 | 45,931 | 47,719 | 49,870 |
| Total current liabilities | US$ in thousands | 955,598 | 817,757 | 717,783 | 658,018 | 934,519 | 842,641 | 764,119 | 655,791 | 976,260 | 856,347 | 755,175 | 686,054 | 984,225 | 851,151 | 697,069 | 583,538 | 750,070 | 635,410 | 558,911 | 491,331 |
| Cash ratio | 1.09 | 1.00 | 1.02 | 1.02 | 1.05 | 0.93 | 0.85 | 0.90 | 0.91 | 0.96 | 0.86 | 1.04 | 1.05 | 1.08 | 1.15 | 1.23 | 1.22 | 1.16 | 1.07 | 1.21 |
April 30, 2025 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($1,006,960K
+ $36,388K)
÷ $955,598K
= 1.09
The cash ratio of Korn Ferry has demonstrated fluctuations over the analyzed period from July 31, 2020, to April 30, 2025. Initially, the ratio was relatively stable, starting at 1.21 in July 2020 and experiencing minor decreases and increases thereafter. By October 2020, the ratio decreased slightly to 1.07, and it slightly increased again to 1.16 by January 2021, indicating a modest initial level of liquidity.
During the subsequent quarters, the cash ratio maintained a generally high level, peaking at 1.23 in July 2021. This suggests that, during this period, the company's cash holdings were sufficient to cover its current liabilities more than once, reflecting a strong liquidity position. The ratio remained relatively stable around 1.15 in October 2021 but then declined gradually over the next year, reaching 1.08 in January 2022 and further decreasing to 1.05 by April 2022.
A notable decline occurred in late 2022, with the ratio dropping to 0.86 in October 2022, indicating a decrease in immediate liquidity relative to current liabilities. Nonetheless, the ratio recouped slightly in subsequent quarters, reaching 0.96 in January 2023 and hovering around 0.91 to 0.90 through April and July 2023, implying a downward shift but still maintaining a relatively conservative liquidity stance.
From late 2023 onward, the cash ratio stabilized around 0.85 to 1.05. It slightly increased to 1.02 in October 2024 and fluctuated marginally thereafter, reaching 1.00 in January 2025 and rising again to 1.09 in April 2025. This indicates a cautious but adequate level of liquidity, with the ratio oscillating around the 1.0 mark.
Overall, the cash ratio of Korn Ferry has exhibited a downward trend from its early 2021 peaks but remained largely above 0.85, suggesting that the company generally maintains sufficient cash to meet its short-term obligations, albeit with a slight decline in the coverage rate over the period analyzed. The fluctuations reflect variations in cash holdings relative to current liabilities, consistent with strategic liquidity management.
Peer comparison
Apr 30, 2025