KFY · sample dossier
Korn Ferry
66/100
OutdatedGenerated Sep 5, 2026 · 10:00 AM UTC · 62 days ago
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EquityKorn Ferry · XNYS
Decision context
Recommendation
Driven by superior Value (85/100) and Momentum (83/100) scores.
A mixed picture — no strong reason to buy or sell right now.
AlphaDog Fair Value
Executive thesis & key metrics
Executive Investment Thesis
Korn Ferry is an organizational consulting and search firm with a market capitalization of $4.38B, an EV/EBITDA of 9.31, and free cash flow per share of $6.25 (four-quarter statements). The constructive outlook is supported by 14.9% YoY EPS growth, 6.7% YoY revenue growth, and conservative leverage with a 0.30 Debt/Equity ratio alongside a 16.35 P/E multiple. The primary operational vulnerability is cyclical exposure reflected in a modest return on assets of 5.9% and a gross margin of 24.3%.
Key Metrics to Watch
What changed recently
No material changes found in the last 30 days.
Why this rating
Score 66 · Hold
Data through
OutdatedApr 30, 2026
Valuation methods disagree by more than 50%, so this stays a Hold.
Value 85/100 — P/E 16.4x screens cheap vs inputs.
Re-evaluate if
- Net margin falls below 7.6% (was 9.5%)
- Debt/Equity ratio increases above 0.30.
Trim / reconsider if
- ROA falls below 3.8% (was 5.9%)
Think of these dollars as a map of our value estimate for Hold — helpful context, not a reason to override the view.
A Calmer Look · Devil's Advocate
Consensus is complacently underwriting a Buy recommendation on Korn Ferry by misinterpreting late-cycle operating leverage and depressed peer multiples.
May be overlooked
Core financial results from the April 30, 2026 fiscal year-end are over 125 days old and formally stale, leaving investors blind to subsequent summer 2026 hiring deceleration.
Return on assets of just 5.9% reveals low balance-sheet asset productivity, undermining the quality of its 2.17 Price/Book multiple.
Operating leverage is asymmetric
the gap between 6.7% YoY revenue growth and 14.9% YoY EPS growth indicates cost reduction that rapidly reverses into negative operational deleverage if search volume dips.
Expectations look stretched
Consensus downplays C-suite selling, dismissing CEO Gary Burnison's divestment of at least $2.37M (and up to $8.2M across July 2026 trades) while net dollar disposition sits at -$704,194.
Benchmarking KFY's 16.35 P/E and 9.31 EV/EBITDA against MAN (27.9 P/E) and RHI (37.4 P/E) creates a false valuation floor based on peers experiencing trough earnings.
Forward performance models improperly extrapolate search bill rates at the fiscal 2026 level of $145 per hour without factoring in corporate discretionary budget cuts.
Revenue Growth YoY decelerates below 6.7%.
Revenue Growth YoY decelerates below 6.7%.
Market context
Snapshot returns at report publication
1 month
+3.2%
3 months
+18.0%
6 months
+34.2%
1 year
+15.8%
At a Glance
A mid-sized company is riding a strong uptrend at fair pricing.
Top Holders
Financial trajectory
Financial Performance
Go deeper
For learning and research only — not investment advice. AlphaDog doesn’t hold stocks and isn’t your financial advisor.
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