Core Viewpoint - Korn/Ferry International (KFY) has reached a significant support level and is considered a potential investment opportunity due to a recent "golden cross" technical pattern, indicating a bullish breakout [1]. Technical Analysis - KFY's 50-day simple moving average has recently crossed above its 200-day moving average, forming a "golden cross," which is a bullish signal in technical analysis [1]. - A successful golden cross event consists of three stages: the stock price bottoms out, the shorter moving average crosses above the longer moving average, and the stock maintains upward momentum [2]. Performance Metrics - Over the past four weeks, KFY has gained 5.2%, indicating positive price movement [3]. - The company currently holds a 3 (Hold) rating on the Zacks Rank, suggesting it may be poised for further breakout [3]. - There has been one upward earnings estimate revision for KFY in the past 60 days, with no downward revisions, and the Zacks Consensus Estimate has also increased [3]. Investment Outlook - The combination of positive earnings estimate revisions and the technical breakout suggests that KFY could see more gains in the near future, making it a stock to watch for investors [4].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____to _____ Commission File Number 001-14505 KORN FERRY (Exact Name of Registrant as Specified in its Charter) Delaware 95-2623879 (State or Other Jurisdiction of In ...

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Group 1 - The article provides a hold rating for Korn Ferry (NYSE: KFY), indicating that while there are early signs of recovery, they are not yet strong enough to warrant a more bullish outlook [1] - The investment approach emphasizes understanding core business economics, including competitive moat, unit economics, reinvestment runway, and management quality, which are crucial for long-term free cash flow generation and shareholder value creation [1] - The focus is on sectors with strong secular tailwinds, suggesting a strategic preference for industries that are expected to grow over time [1] Group 2 - The author identifies as a fundamental, valuation-driven investor with a decade of experience, managing personal funds sourced from friends and family [1] - The motivation for writing is to share investment insights and gather feedback from fellow investors, aiming to help readers focus on long-term equity value drivers [1] - The analysis is intended to be both analytical and accessible, adding value to readers seeking high-quality, long-term investment opportunities [1]

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Financial Data and Key Metrics Changes - Consolidated fee revenue for the fourth quarter was $712 million, growing 4% year over year at constant currency [15] - Adjusted EBITDA grew 8% to $121 million, with an adjusted EBITDA margin increase of 70 basis points to 17% [15] - Adjusted diluted earnings per share increased 5% to $1.32 [15] - Estimated remaining fees under existing contracts totaled approximately $1.7 billion, up 12% year over year [16] Business Line Data and Key Metrics Changes - Executive Search grew 15% year over year at constant currency, marking the fourth consecutive quarter of growth [14] - Digital subscription and license new business grew to 40% of total digital new business, up from 37% in the prior year quarter [14] - RPO (Recruitment Process Outsourcing) secured $119 million in new business awards, with 77% attributed to new logos [14] - Average hourly bill rates in consulting and interim portions remained strong at $454 and $131, respectively [14] Market Data and Key Metrics Changes - Fee revenue in The Americas was flat year over year at constant currency, with growth in Executive Search and RPO [17] - EMEA fee revenue grew 9% year over year at constant currency, driven by growth in Executive Search and Professional Search [18] - APAC fee revenue grew 8% year over year at constant currency, primarily due to growth in Executive Search and RPO [18] Company Strategy and Development Direction - The company is focused on extending its offerings and solutions, particularly in technology and AI, to drive organizational performance for clients [8][10] - The strategy emphasizes synergistic fee revenue sources, with 77% of clients purchasing two or more solutions [7] - The company aims to innovate and enhance its TalentSuite product, which is expected to create a significant impact in the market [9][14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing economic challenges, including a cost of living crisis and its impact on client spending [33][34] - Despite the challenging environment, the company remains optimistic about future growth opportunities and its ability to drive performance for clients [19] - The leadership team is focused on adapting to changing market demands and the need for different leadership qualities in the current economic climate [50][51] Other Important Information - The company returned $173 million to shareholders through share repurchases and dividends in fiscal year 2025 [18] - The company invested $44 million in M&A and $62 million in capital expenditures focused on technology platforms and product enhancements [18] Q&A Session Summary Question: Insights on new business trends and revenue trends by month - Management noted that May was stronger than April, indicating a positive trend despite ongoing uncertainties [23] Question: Executive Search growth specifics - Management indicated that long-term growth has been consistent, with quarterly fluctuations expected [26] Question: Update on sales cycles and client spending behaviors - Management highlighted a cost of living crisis affecting client spending and overall economic growth [33][34] Question: Performance of consulting and digital segments - Digital business grew 4% year over year, while consulting remained flat, reflecting larger engagements taking longer to implement [41] Question: Impact of international news on business confidence - Management expressed uncertainty about the impact of geopolitical events on business confidence, emphasizing the ongoing cost of living crisis [58][59] Question: Headcount productivity and revenue generation - Management discussed the importance of monetizing intellectual property and the scalability of their offerings [73][74] Question: Changes in leadership qualities sought by boards - Management emphasized the need for leaders who can embrace ambiguity and adapt to rapid changes in the market [50][51]

Financial Data and Key Metrics Changes - Consolidated fee revenue for Q4 was $712 million, growing 4% year over year at constant currency [16] - Adjusted EBITDA grew 8% to $121 million, with an adjusted EBITDA margin increase of 70 basis points to 17% [16] - Adjusted diluted earnings per share increased 5% to $1.32 [16] - Estimated remaining fees under existing contracts totaled approximately $1.7 billion, up 12% year over year [17] Business Line Data and Key Metrics Changes - Executive Search grew 15% year over year at constant currency, marking the fourth consecutive quarter of growth [15] - Digital subscription and license new business accounted for 40% of total digital new business, up from 37% in the prior year [15] - RPO (Recruitment Process Outsourcing) secured $119 million in new business awards, with 77% attributed to new logos [15] - Average hourly bill rates in consulting and interim portions remained strong at $454 and $131, respectively [15] Market Data and Key Metrics Changes - Fee revenue in The Americas was flat year over year at constant currency, with growth in Executive Search and RPO [19] - EMEA fee revenue grew 9% year over year at constant currency, driven by growth in Executive Search and Professional Search [20] - APAC fee revenue increased 8% year over year at constant currency, primarily due to growth in Executive Search and RPO [20] Company Strategy and Development Direction - The company is focused on innovation, particularly in technology and AI, to enhance organizational performance for clients [9] - A balanced approach to capital allocation has been maintained, with $173 million returned to shareholders through share repurchases and dividends [20] - The company aims to leverage its extensive data and intellectual property to create knowledge transfer and drive client success [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing economic challenges but expressed confidence in the company's strategic direction and growth opportunities [5][21] - The leadership emphasized the importance of adapting to changing client needs and the evolving labor market, particularly in light of demographic shifts [56][72] - The company expects Q1 fiscal 2026 fee revenue to range from $675 million to $695 million, with adjusted EBITDA margins between 16.8% and 17.2% [21] Other Important Information - The company has raised its dividend six times in five years, indicating a commitment to returning value to shareholders [8] - The introduction of a new operating metric, estimated remaining fees under existing contracts, demonstrates the effectiveness of the company's diversification strategy [16] Q&A Session Summary Question: Insights on new business trends and revenue trends by month - Management noted that May was stronger than April, indicating a positive trend despite ongoing uncertainties in the market [25] Question: Executive Search growth specifics - Management indicated that while there are ebbs and flows, the long-term growth rate for Executive Search remains strong, driven by demographic factors and changing leadership demands [29][30] Question: Update on sales cycles and client spending behaviors - Management highlighted the cost of living crisis impacting client spending and noted that companies are cutting costs, which has been consistent for several quarters [36] Question: Performance of consulting and digital segments - Digital business grew 4% year over year, while consulting remained flat, with larger engagements taking longer to implement [45] Question: Changes in leadership expectations - Management emphasized the need for leaders to embrace ambiguity and adapt to profound changes in the market, particularly with the rise of AI [54][56] Question: International growth and consultant productivity - Management reported strong growth in international markets and increased consultant productivity, attributing it to both company strategy and market factors [59] Question: Impact of international news on business confidence - Management acknowledged the uncertainty created by international events but emphasized the ongoing cost of living crisis as a significant concern [63] Question: Bonus payout and investable cash - Management indicated that the bonus payout would be sufficient to reward top performers, with investable cash around $675 million [66][67]

Group 1 - Korn Ferry (NYSE: KFY) shares increased by 8.8%, trading at $72.64 after reporting better-than-expected earnings and revenue for the fiscal fourth quarter [1] - The stock broke above resistance at $72, which had emerged in January, and reached its highest level since early December [1] - Korn Ferry is on track for its largest single-day percentage increase since November, with a year-to-date gain of 7.9% [1] Group 2 - The options market for Korn Ferry is experiencing 43 times the average intraday volume, indicating heightened trading activity [2] - The most popular options contracts are the June 75 call and the 75 put, with new positions being opened for both [2] - Short-term options traders are exhibiting a more bearish sentiment than usual, as indicated by a Schaeffer's put/call open interest ratio (SOIR) of 1.53, ranking in the 99th percentile of annual readings [2]

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Group 1 - Korn/Ferry reported revenue of $712.05 million for the quarter ended April 2025, a year-over-year increase of 3.1% [1] - The EPS for the same period was $1.32, compared to $1.26 a year ago, representing a surprise of +4.76% over the consensus estimate [1] - The reported revenue exceeded the Zacks Consensus Estimate of $688.94 million by +3.35% [1] Group 2 - Total Executive Search fee revenue was $227 million, surpassing the estimated $206.26 million, reflecting a year-over-year increase of +14.2% [4] - Overall fee revenue was $712.05 million, compared to the average estimate of $688.94 million, indicating a +3.1% change year over year [4] - Digital fee revenue was $91.63 million, slightly below the average estimate of $91.65 million, with a year-over-year change of +0.4% [4] - Consulting fee revenue was $169.36 million, exceeding the estimated $167.62 million, but showing a year-over-year decline of -7% [4] Group 3 - Korn/Ferry's shares have returned -3.3% over the past month, while the Zacks S&P 500 composite increased by +0.6% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]