KORN FERRY (KFY) [Rocket]

In millions, except per share items	Apr-30-23	Apr-30-22	Apr-30-21	Apr-30-20	Apr-30-19	Apr-30-18	Apr-30-17	Apr-30-16
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Executive Search	883.3	939.9	639.3	749.2	793.4	727.3	636.2	644.5
Futurestep								214.0
Hay Group								488.2
Other	1,980.5	1,703.5	1,180.7	1,228.1	1,180.5	1,092.2	985.5
Total revenues [+]	2,863.8	2,643.5	1,819.9	1,977.3	1,973.9	1,819.5	1,621.7	1,346.7
Services								1,292.1
Reimbursements								54.6
Revenue growth [+]	8.3%	45.2%	-8.0%	0.2%	8.5%	12.2%	20.4%	26.3%
Executive Search	-6.0%	47.0%	-14.7%	-5.6%	9.1%	14.3%	-1.3%	4.1%
Futurestep								24.7%
Hay Group								77.4%
Cost of goods sold [+]	1,901.2	1,741.5	1,297.9	1,298.0	1,311.2	1,199.1	1,065.7	951.9
Labor costs								897.3
Reimbursable costs								54.6
Gross profit	962.6	902.0	522.1	679.3	662.6	620.5	556.0	394.8
Gross margin	33.6%	34.1%	28.7%	34.4%	33.6%	34.1%	34.3%	29.3%
Selling, general and administrative [+]	268.5	237.3	191.8	259.0	352.0	237.4	226.2	213.0
General and administrative	268.5	237.3	191.8	259.0	352.0	237.4	226.2	213.0
Equity in earnings							-0.3	1.6
Other operating expenses	266.9	131.1	81.9	130.5	123.3	126.0	127.6	59.8
Adjusted EBITDA	463.5	562.8	275.5	312.7	210.7	278.6	220.8	142.5
Adjusted EBITDA margin	16.2%	21.3%	15.1%	15.8%	10.7%	15.3%	13.6%	10.6%
Stock-based compensation	36.3	29.2	27.2	22.8	23.4	21.5	19.0	18.9
EBITDA [+]	427.2	533.6	248.4	289.9	187.3	257.1	201.8	123.6
EBITDA growth	-19.9%	114.8%	-14.3%	54.8%	-27.1%	27.4%	63.3%	-17.0%
EBITDA margin	14.9%	20.2%	13.6%	14.7%	9.5%	14.1%	12.4%	9.2%
Depreciation	44.6	43.2	42.6	39.0	33.0	33.9	31.9	24.5
EBITA	382.6	490.4	205.7	250.9	154.3	223.2	170.0	99.0
EBITA margin	13.4%	18.6%	11.3%	12.7%	7.8%	12.3%	10.5%	7.4%
Amortization of intangibles	23.7	20.3	19.2	16.3	13.5	14.7	15.4	11.7
EBIT [+]	358.9	470.1	186.5	234.6	140.8	208.5	154.6	87.3
EBIT growth	-23.6%	152.0%	-20.5%	66.6%	-32.5%	34.9%	77.0%	-28.0%
EBIT margin	12.5%	17.8%	10.2%	11.9%	7.1%	11.5%	9.5%	6.5%
Non-recurring items	42.6		30.7	58.6		0.1	34.6	33.0
Interest expense, net [+]	25.9	25.3	29.3	22.2	16.9	13.8	14.6	-0.2
Interest expense	25.9	25.3	29.3	22.2	16.9	13.8	14.6
Interest income								0.2
Other income (expense), net	5.3	-11.9	37.2	-2.9	10.4	11.4	10.7	-5.8
Pre-tax income	295.7	432.9	163.7	151.0	134.3	206.0	116.0	48.8
Income taxes	82.7	102.1	48.1	43.9	29.5	70.1	29.1	19.0
Tax rate	28.0%	23.6%	29.4%	29.1%	22.0%	34.0%	25.1%	38.9%
Minority interest	3.5	4.5	1.1	2.1	2.1	2.1	3.1	0.5
Net income	209.5	326.4	114.5	104.9	102.7	133.8	84.2	30.9
Net margin	7.3%	12.3%	6.3%	5.3%	5.2%	7.4%	5.2%	2.3%

Basic EPS [+]	$4.07	$6.18	$2.16	$1.93	$1.86	$2.41	$1.50	$0.59
Growth	-34.1%	185.8%	12.0%	4.1%	-23.1%	61.2%	153.7%	-67.2%
Diluted EPS [+]	$4.04	$6.11	$2.14	$1.92	$1.83	$2.38	$1.48	$0.58
Growth	-33.9%	185.2%	11.8%	4.7%	-23.1%	60.7%	153.3%	-67.1%

Dividends per share [+]	$0.60	$0.48	$0.40	$0.40	$0.40	$0.40	$0.40	$0.40
Growth	25.0%	20.0%	0.0%	0.0%	0.0%	0.0%	0.0%	300.0%

Shares outstanding (basic) [+]	51.5	52.8	52.9	54.3	55.3	55.4	56.2	52.4
Growth	-2.5%	-0.2%	-2.6%	-1.8%	-0.2%	-1.4%	7.3%	6.8%
Shares outstanding (diluted) [+]	51.9	53.4	53.4	54.8	56.1	56.3	56.9	52.9
Growth	-2.8%	0.0%	-2.5%	-2.4%	-0.3%	-1.1%	7.5%	6.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.