KFY’s Quiet Cadence: Korn Ferry Keeps Growing, Backing Itself with Backlog and Buybacks

Fourth Quarter and Full-Year Highlights

• Fee revenue for the fourth quarter: $759.8 million, up 7% year over year and 5% at constant currency. Full-year fee revenue: $2.9 billion, up 7% YoY and 5% at constant currency.
• Net income attributed to Korn Ferry in Q4: $73.1 million, with a margin of 9.6%. Full-year net income: $277.4 million, margin 9.5%.
• Earnings per share (EPS): Diluted EPS in Q4 $1.39; adjusted diluted EPS $1.40. Full year: $5.22 (diluted) and $5.28 (adjusted).
• Adjusted EBITDA in Q4: $129.5 million, margin 17.0%; full year: $497.8 million with a margin of 17.1%.
• Capital returns to shareholders: 1,240,458 shares repurchased for $78.8 million and $28.3 million paid in dividends.
• Backlog-like metric: Estimated remaining fees under existing contracts at the end of Q4 were $1.9 billion, up 10% year over year.

Leadership Commentary

The company’s leadership framed the quarter as evidence of persistent top-line growth and the resilience of Korn Ferry’s broader offerings.

“I am very pleased with our quarterly performance. This marks our fifth consecutive quarter of top-line growth, underscoring the strength of our strategy and the increasing relevance of our solutions—all amid an uneven economic environment,” said Gary D. Burnison, CEO, Korn Ferry. “In addition to increased momentum across our broader offerings, I am particularly encouraged by double-digit growth in Professional Search & Interim, reflecting the depth and breadth of our solutions.”

“As we conclude another fiscal year, I have never been more excited about the potential for Korn Ferry, the impact we have on clients and our We Are Korn Ferry mindset that is furthering collaboration across our firm. I am incredibly proud of our colleagues around the world. Their expertise and passion are the catalyst as we unlock potential in people and unleash transformation across organizations.”

Outlook and Implications

The results reinforce a straightforward narrative: Korn Ferry benefits from stable demand in its core advisory and recruitment services, with a growing pipeline of future work implied by the remaining fees metric. The ~7% quarterly growth in fee revenue and the healthy full-year numbers suggest that the company’s footprint in executive search, interim placements, and related consulting continues to expand, even as macro conditions create a wide range of outcomes for professional services.

The EPS trajectory, anchored by roughly $1.39 in Q4 and $5.22 for the year (both diluted) alongside an attractive adjusted EPS of $1.40 in Q4 and $5.28 for the year, points to a business that can convert top-line gains into shareholder-friendly earnings without relying on a single margin lever. The EBITDA margin around 17%—both quarterly and full-year—signals efficient operations and a favorable mix, given the nature of recurring work tied to long-term contracts.

From a strategic standpoint, the backlog-like figure of $1.9 billion in remaining fees may provide a cushion of revenue visibility, supporting a cautious revenue forecast for upcoming quarters. At the same time, management’s commentary on momentum in Professional Search and Interim suggests that the diversification of services could help weather sector cycles that affect staffing and talent solutions practitioners differently than traditional consultancies.

What This Could Mean for Korn Ferry and Sector Peers

For Korn Ferry, the combination of sustainable fee revenue growth, a robust cadence of capital returns, and a sizable remaining-fees backlog adds up to a credible path to continued earnings growth. The company’s cadence—repeatable quarter after quarter—bends the capital allocation stick toward a disciplined mix of buybacks and modest dividends, which tends to lift EPS over time without risking cash reserves in a soft market.

Peers in the professional services and recruitment-advisory space may watch Korn Ferry’s ability to translate backlog-like metrics into actual revenue realization. If the market signals that demand is broadening rather than isolated to a few hot segments, sector players could face pressure to demonstrate similar visibility in revenue forecasts and to validate their own EPS consensus expectations with tangible margin discipline.

Notes for readers

Key SEO-friendly terms appear in context here: ticker KFY, EPS, earnings per share, earnings surprise, EPS consensus, revenue forecast, fee revenue, and EBITDA. The numbers presented reflect Fourth Quarter and Full-Year FY'26 results as disclosed in Korn Ferry’s press materials.