Korn Ferry (KFY)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 344,912 | 341,899 | 328,503 | 243,647 | 222,642 | 203,970 | 155,464 | 256,580 | 295,737 | 346,659 | 438,411 | 437,387 | 432,901 | 404,217 | 365,025 | 303,503 | 163,700 | 78,556 | 35,495 | 53,332 |
| Revenue (ttm) | US$ in thousands | 2,761,086 | 2,741,182 | 2,741,517 | 2,772,004 | 2,795,505 | 2,833,706 | 2,843,678 | 2,866,950 | 2,863,836 | 2,852,715 | 2,850,826 | 2,758,505 | 2,643,455 | 2,473,846 | 2,266,770 | 2,061,161 | 1,819,946 | 1,711,528 | 1,761,627 | 1,828,015 |
| Pretax margin | 12.49% | 12.47% | 11.98% | 8.79% | 7.96% | 7.20% | 5.47% | 8.95% | 10.33% | 12.15% | 15.38% | 15.86% | 16.38% | 16.34% | 16.10% | 14.72% | 8.99% | 4.59% | 2.01% | 2.92% |
April 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $344,912K ÷ $2,761,086K
= 12.49%
The data on Korn Ferry’s pretax margin over the designated reporting periods demonstrates notable fluctuations, reflecting varying levels of profitability before tax expenses relative to revenue. Starting from a low of 2.92% as of July 31, 2020, the pretax margin experienced a gradual decline to 2.01% by October 31, 2020. Subsequently, there was a significant upward trajectory, culminating in a peak of approximately 16.38% on April 30, 2022. This period marked a substantial improvement in pre-tax profitability, likely attributable to operational efficiencies, revenue growth, or favorable market conditions.
Post-April 2022, the pretax margin exhibited a gradual decline, stabilizing around the mid-teens, with values of about 15.86% in July 2022 and slightly decreasing through October 2022 to approximately 15.38%. The margin then continued to contract, reaching approximately 12.15% in January 2023 and declining further to approximately 8.95% in July 2023. This downward trend persisted into October 2023, where the pretax margin narrowed further to 5.47%.
From October 2023 onward, there was a modest resurgence, with the pretax margin increasing to roughly 7.20% in January 2024, then bouncing back to nearly 7.96% in April 2024, and further rising to approximately 8.79% in July 2024. Notably, the margin experienced a significant recovery, reaching 11.98% in October 2024, and continuing upward trend into early 2025, with figures of around 12.47% in January 2025 and approximately 12.49% in April 2025.
Overall, the pretax margin exhibits patterns of expansion and contraction, with a marked peak in early 2022 and subsequent decline, followed by a recent recovery phase. These movements indicate periods of improved profitability possibly driven by operational factors or market conditions, and later pressures that narrowed margins, though recent trends suggest a positive directional shift towards a more sustainable margin level.
Peer comparison
Apr 30, 2025