Korn Ferry vs Paychex
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KIRA’s take AI analyst
I put Korn Ferry and Paychex side by side, using each one’s latest annual report. Here is what stands out:
- Paychex is the larger business, with $6.5B of revenue in fiscal 2026 against $2.9B for Korn Ferry, about 2.2 times as much.
- Paychex grew revenue faster (16.9%, against 6.4%).
- Paychex kept more of each dollar of sales as operating profit (38.6% operating margin, against 12.8%).
- Paychex turned more of its sales into free cash flow (35.7% FCF margin, against 11.0%).
- Paychex earned a higher return on the capital invested in it (26.2%, against 21.9%).
- Investors pay more for each dollar of Paychex’s earnings: a P/E of 22.9x against 14.9x for Korn Ferry.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Korn Ferry
KFY
3/10
5-year growthPiotroski F-scoreNet debt / EBITDA
Paychex
PAYX
7/10
Revenue growthOperating marginNet marginFCF marginReturn on capitalReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | KFY FY26 | PAYX FY26 |
|---|---|---|
| Size | ||
| Market cap | $4.0B | $41.3B |
| Revenue | $2.9B | $6.5B |
| Free cash flow | $324M | $2.3B |
| Net income | $277M | $1.8B |
| Growth | ||
| Revenue growth | 6.4% | 16.9% |
| 5-year growth | 10.1% | 9.9% |
| Share count change | −0.5% | −0.6% |
| Profitability | ||
| Gross margin | — | 74.3% |
| Operating margin | 12.8% | 38.6% |
| Net margin | 9.4% | 27.0% |
| FCF margin | 11.0% | 35.7% |
| Return on capital | 21.9% | 26.2% |
| Return on equity | 14.5% | 44.8% |
| Balance sheet | ||
| Net debt | −$731M | $3.4B |
| Net debt / EBITDA | −1.5x | 1.2x |
| Dividends and buybacks | $220M | $2.2B |
| Valuation & quality | ||
| P/E | 14.9x | 22.9x |
| Piotroski F-score | 8 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.