What is Lazard, Inc.'s earnings per share (EPS)?

Lazard, Inc. (LAZ) reported diluted earnings per share of $2.17 for fiscal year 2025. This represents a -19.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Lazard, Inc. (LAZ) Financials

LAZ

Trailing 12 months to March 31, 2026

Revenue $3.2B +9.3% YoY

Net Income $277.5M -8.9% YoY

EPS (Diluted) $2.53 -11.8% YoY

Free Cash Flow $497.3M -11.6% YoY

Market Cap $3.4B as of Oct 6, 2026

Price / Sales 1.1x on $3.2B revenue, trailing 12 months to March 31, 2026

Price / Earnings 12.4x on $277.5M net income, trailing 12 months to March 31, 2026

Price / Book 3.9x on $881.3M equity, Q1 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LAZ SEC filings page.

Lazard, Inc. (LAZ) reported $3.2B in revenue over the twelve months to Mar 31, 2026, up 9.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LAZ FY2025 2026-10-03

Lazard's earnings recovery is losing momentum: FY2025 revenue was nearly flat while margins and cash generation weakened.

The key disconnect is between stable revenue and weaker cash generation: revenue increased 1.5% from FY2024, yet operating cash flow fell 30.1%. Because free cash flow remained 0.9x operating cash flow, the deterioration was not mainly caused by heavier capital spending; it points more toward weaker operating cash conversion or working-capital timing.

Revenue increased 1.5% in FY2025, but selling, general and administrative expense grew faster than sales. That pushed operating margin down from 12.7% to 10.6%, showing that incremental business was not dropping through to profit.

Balance-sheet leverage improved even as profitability weakened: debt-to-equity declined from 2.7x in FY2024 to 1.9x in FY2025. Operating cash flow was also 2.2x net income, so accounting earnings still converted into cash, although the amount of cash produced fell materially.

Financial Health Signals

Financial Health Score 44/100

Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Lazard, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Earnings

Lazard, Inc. earned a return on assets of 4.8% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is down from 5.8% the prior year. Earnings ranks banks on that return over three years, and Lazard, Inc. scores 96/100 among other banks.

Growth

Lazard, Inc. reported revenue of $3.1B in fiscal year 2025, against $3.1B in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Lazard, Inc. scores 62/100 among other banks.

Capital

Lazard, Inc. funded 17.6% of its assets with shareholders' equity at the end of fiscal year 2025, holding $869.2M of equity against $4.9B of assets. Capital ranks banks on that cushion, and Lazard, Inc. scores 83/100 among other banks.

Efficiency

Not available for Lazard, Inc., and counted as zero in the overall score.

Credit Quality

Not available for Lazard, Inc., and counted as zero in the overall score.

Stability

Lazard, Inc. reported net income of $237.0M in fiscal year 2025, against $280.0M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Lazard, Inc. scores 25/100 among other banks.

Piotroski F-Score Partial

5/7

Lazard, Inc. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.19x

For every $1 of reported earnings, Lazard, Inc. generates $2.19 in operating cash flow ($519.3M OCF vs $237.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

3.75x

Lazard, Inc. earns $3.75 in operating income for every $1 of interest expense ($327.6M vs $87.3M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$756.6M

YoY+16.7%

QoQ-16.6%

5Y CAGR+2.8%

10Y CAGR+4.3%

Lazard, Inc. generated $756.6M in revenue in Q1 2026. This represents an increase of 16.7% from the same quarter a year earlier. Against the prior quarter it is down 16.6%.

EBITDA

$97.4M

YoY+54.4%

QoQ+4.1%

5Y CAGR-7.5%

10Y CAGR-0.9%

Lazard, Inc.'s EBITDA was $97.4M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 54.4% from the same quarter a year earlier. Against the prior quarter it is up 4.1%.

Net Income

$100.9M

YoY+67.1%

QoQ+101.7%

5Y CAGR+2.9%

10Y CAGR+4.2%

Lazard, Inc. reported $100.9M in net income in Q1 2026. This represents an increase of 67.1% from the same quarter a year earlier. Against the prior quarter it is up 101.7%.

EPS (Diluted)

$0.91

YoY+62.5%

QoQ+102.2%

5Y CAGR+3.9%

10Y CAGR+6.2%

Lazard, Inc. earned $0.91 per diluted share (EPS) in Q1 2026. This represents an increase of 62.5% from the same quarter a year earlier. Against the prior quarter it is up 102.2%.

Cash & Balance Sheet

Free Cash Flow

-$221.5M

YoY+4.3%

QoQ-155.9%

Lazard, Inc. recorded an outflow of $221.5M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents an increase of 4.3% from the same quarter a year earlier. Against the prior quarter it is down 155.9%.

Cash & Debt

$1.0B

YoY+12.3%

QoQ-30.5%

5Y CAGR+0.9%

10Y CAGR+3.8%

Lazard, Inc. held $1.0B in cash against $1.7B in long-term debt as of Q1 2026.

Dividends Per Share

$0.50

YoY0.0%

QoQ0.0%

5Y CAGR+1.2%

10Y CAGR-10.7%

Lazard, Inc. paid $0.50 per share in dividends in Q1 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

112M

YoY-1.0%

QoQ0.0%

5Y CAGR-0.2%

Lazard, Inc. had 112M shares outstanding in Q1 2026. This represents a decrease of 1.0% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Operating Margin

11.8%

YoY+3.4pp

QoQ+2.5pp

5Y change-8.5pp

10Y change-7.9pp

Lazard, Inc.'s operating margin was 11.8% in Q1 2026, reflecting core business profitability. This is up 3.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.5 percentage points.

Net Margin

13.3%

YoY+4.0pp

QoQ+7.8pp

5Y change+0.1pp

10Y change-0.1pp

Lazard, Inc.'s net profit margin was 13.3% in Q1 2026, showing the share of revenue converted to profit. This is up 4.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 7.8 percentage points.

Return on Equity

11.5%

YoY+1.4pp

QoQ+5.7pp

5Y change0.0pp

10Y change+5.7pp

Lazard, Inc.'s ROE was 11.5% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.7 percentage points.

Gross Margin

Not reported for Q1 2026.

Capital Allocation

Share Buybacks

$1.7M

YoY-95.3%

QoQ-96.6%

5Y CAGR-57.5%

10Y CAGR-32.2%

Lazard, Inc. spent $1.7M on share buybacks in Q1 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 95.3% from the same quarter a year earlier. Against the prior quarter it is down 96.6%.

Capital Expenditures

$2.2M

YoY-84.2%

QoQ-39.0%

5Y CAGR-21.9%

10Y CAGR-8.7%

Lazard, Inc. invested $2.2M in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 84.2% from the same quarter a year earlier. Against the prior quarter it is down 39.0%.

R&D Spending

Not reported for Q1 2026.

LAZ Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LAZ quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$3.2B	$3.1B+1.5%	$3.1B+21.3%	$2.5B-9.3%	$2.8B-13.1%	$3.2B+24.4%	$2.6B-0.8%	$2.6B-8.5%	$2.8B+6.9%	$2.6B+13.3%	$2.3B-0.9%	$2.4B+2.3%	$2.3B+15.9%	$2.0B+3.8%	$1.9B-0.4%	$1.9B
SG&A Expenses	$2.1B	$2.1B+4.1%	$2.0B+2.9%	$1.9B+17.5%	$1.7B-12.6%	$1.9B+22.3%	$1.6B-0.8%	$1.6B+3.2%	$1.5B+0.1%	$1.5B+12.9%	$1.3B+1.6%	$1.3B+0.5%	$1.3B+2.7%	$1.3B-5.4%	$1.4B+15.6%	$1.2B
Operating Income	$362.5M	$327.6M-15.2%	$386.5M+583.3%	-$80.0M-115.5%	$516.8M-28.6%	$723.8M+44.2%	$502.1M+27.9%	$392.7M-42.3%	$680.8M-17.5%	$825.4M+59.5%	$517.5M+3213.5%	-$16.6M-103.2%	$519.5M+139.6%	$216.8M+75.0%	$123.9M-47.4%	$235.5M
EBITDA	N/A	$361.8M-14.4%	$422.8M+1239.4%	-$37.1M-106.6%	$559.2M-26.6%	$762.2M+41.9%	$537.2M+25.4%	$428.3M-40.1%	$714.9M-16.6%	$856.9M+55.6%	$550.7M+3306.9%	$16.2M-97.1%	$553.9M+120.2%	$251.6M+62.6%	$154.7M-40.5%	$260.1M
Interest Expense	$89.0M	$87.3M-0.9%	$88.1M+13.4%	$77.7M-4.7%	$81.5M+0.9%	$80.8M+0.2%	$80.6M+0.6%	$80.2M+37.1%	$58.5M+9.3%	$53.5M+6.4%	$50.3M-1.7%	$51.2M-18.2%	$62.6M-21.2%	$79.4M-2.7%	$81.6M-9.5%	$90.1M
Income Tax	$72.9M	$76.6M-23.2%	$99.8M+540.5%	-$22.6M-118.2%	$124.4M-31.4%	$181.3M+82.3%	$99.4M+4.7%	$95.0M-36.0%	$148.3M-73.8%	$565.6M+357.0%	$123.8M+112.3%	-$1.0B-1282.1%	$85.4M+65.2%	$51.7M+66.2%	$31.1M-30.8%	$44.9M
Net Income	$277.5M	$237.0M-15.4%	$280.0M+473.3%	-$75.0M-120.9%	$358.0M-32.2%	$528.0M+31.2%	$402.5M+40.5%	$286.5M-45.6%	$527.1M+107.9%	$253.6M-34.6%	$387.7M-60.7%	$986.4M+130.9%	$427.3M+166.7%	$160.2M+90.0%	$84.3M-51.8%	$174.9M
EPS (Basic)	N/A	$2.37-19.1%	$2.93+425.6%	-$0.90-124.5%	$3.68-24.9%	$4.90+32.8%	$3.69+43.6%	$2.57-42.0%	$4.43+112.0%	$2.09-32.8%	$3.11-60.5%	$7.87+125.5%	$3.49+162.4%	$1.33+84.7%	$0.72-51.4%	$1.48
EPS (Diluted)	$2.53	$2.17-19.0%	$2.68+397.8%	-$0.90-125.6%	$3.51-24.2%	$4.63+30.8%	$3.54+45.1%	$2.44-39.9%	$4.06+112.6%	$1.91-34.6%	$2.92-60.5%	$7.40+131.3%	$3.20+164.5%	$1.21+86.2%	$0.65-52.2%	$1.36
Diluted Shares (Avg)	N/A	106M+3.9%	102M+15.1%	89M-11.9%	101M-11.2%	114M+0.2%	113M-2.2%	116M-10.5%	130M-2.0%	132M-0.1%	133M-0.5%	133M-0.4%	134M+0.1%	134M+3.4%	129M-6.0%	138M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$756.6M+16.7%	$906.7M+11.0%	$748.1M-4.7%	$796.0M+16.1%	$648.1M-15.3%	$816.9M+1.3%	$784.9M+49.8%	$685.3M+6.6%
SG&A Expenses	$491.9M+14.3%	$637.7M+19.3%	$498.2M+7.0%	$519.2M+14.7%	$430.3M-21.9%	$534.4M-4.4%	$465.4M+27.6%	$452.6M-20.9%
Operating Income	$89.6M+63.9%	$85.0M-20.7%	$94.9M-41.1%	$93.1M+46.3%	$54.6M+0.1%	$107.1M+48.9%	$161.2M+3418.7%	$63.6M+157.8%
EBITDA	$97.4M+54.4%	$93.6M-19.4%	$103.4M-39.2%	$101.7M+39.7%	$63.1M-1.0%	$116.1M+40.6%	$170.2M+2906.2%	$72.8M+173.1%
Interest Expense	$22.7M+8.4%	$22.6M+1.6%	$22.6M+0.7%	$21.1M-6.8%	$21.0M+1.2%	$22.2M+12.6%	$22.5M+16.7%	$22.6M+17.9%
Income Tax	-$11.0M-49.4%	$30.7M+6.8%	$21.4M-52.4%	$31.8M+174.1%	-$7.4M-151.3%	$28.8M+7043.4%	$45.1M+487.3%	$11.6M+12.5%
Net Income	$100.9M+67.1%	$50.0M-42.1%	$71.2M-34.0%	$55.3M+10.9%	$60.4M+68.9%	$86.4M+34.9%	$107.9M+1411.9%	$49.9M+140.2%
EPS (Basic)	$0.98+60.7%	$0.49-44.9%	$0.71-37.2%	$0.56+5.7%	$0.61+60.5%	$0.89+27.1%	$1.13+1514.3%	$0.53+137.6%
EPS (Diluted)	$0.91+62.5%	$0.45-43.8%	$0.65-36.3%	$0.52+6.1%	$0.56+60.0%	$0.80+14.3%	$1.02+1600.0%	$0.49+134.8%
Diluted Shares (Avg)	107M+1.9%	N/A	108M+4.4%	105M+4.3%	105M+5.5%	N/A	103M+9.7%	101M+13.4%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.

LAZ Balance Sheet

LAZ quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$4.9B+3.0%	$4.8B+3.4%	$4.6B-20.8%	$5.9B-18.1%	$7.1B+19.7%	$6.0B+5.9%	$5.6B+12.9%	$5.0B+1.4%	$4.9B+8.2%	$4.6B+1.8%	$4.5B+34.7%	$3.3B+10.4%	$3.0B+0.8%	$3.0B-3.1%	$3.1B
Cash & Equivalents	$1.5B+12.3%	$1.3B+34.7%	$971.3M-21.3%	$1.2B-15.7%	$1.5B+5.4%	$1.4B+12.9%	$1.2B-1.2%	$1.2B-16.0%	$1.5B+28.1%	$1.2B+2.4%	$1.1B+6.1%	$1.1B+26.8%	$841.5M-1.0%	$850.2M-15.3%	$1.0B
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$897.8M+19.1%	$753.6M-1.1%	$762.3M+16.8%	$652.8M-19.0%	$805.8M+8.4%	$743.1M+12.1%	$663.1M-3.3%	$685.5M+19.9%	$571.6M-10.4%	$638.3M+28.4%	$497.2M-10.8%	$557.6M+8.8%	$512.7M+7.2%	$478.0M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$395.3M+0.4%	$393.6M-0.3%	$394.9M+4.7%	$377.2M-0.6%	$379.4M-1.2%	$383.9M+3.3%	$371.8M+0.1%	$371.6M-3.6%	$385.3M+3.3%	$373.1M+16.3%	$320.8M-4.4%	$335.4M-2.9%	$345.5M-5.2%	$364.3M+2.2%	$356.7M
Total Liabilities	$4.0B-1.9%	$4.0B-0.9%	$4.1B-11.5%	$4.6B-16.4%	$5.5B+10.5%	$5.0B+0.3%	$5.0B+23.1%	$4.0B+9.7%	$3.7B+12.5%	$3.3B+4.9%	$3.1B+21.4%	$2.6B+7.6%	$2.4B+2.0%	$2.3B+5.4%	$2.2B
Long-Term Debt	$1.7B+0.1%	$1.7B-0.2%	$1.7B+0.1%	$1.7B+0.1%	$1.7B+0.1%	$1.7B+0.2%	$1.7B+17.1%	$1.4B+20.5%	$1.2B+0.2%	$1.2B+20.1%	$989.4M	N/A	N/A	N/A	N/A
Total Equity	$869.2M+36.6%	$636.2M+50.1%	$423.8M-23.8%	$556.5M-42.9%	$975.2M+7.0%	$911.8M+49.5%	$610.0M-33.5%	$916.9M-23.6%	$1.2B-2.9%	$1.2B-5.9%	$1.3B+85.8%	$706.7M+26.2%	$560.2M-1.7%	$569.7M-21.6%	$726.1M
Retained Earnings	$1.5B+3.1%	$1.5B+5.0%	$1.4B-16.3%	$1.7B+7.4%	$1.6B+20.5%	$1.3B+8.5%	$1.2B-0.2%	$1.2B+10.7%	$1.1B-4.7%	$1.1B+0.9%	$1.1B+141.8%	$464.7M+128.6%	$203.2M+11.3%	$182.6M-29.4%	$258.6M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$4.2B+0.2%	$4.9B+3.0%	$4.6B-3.9%	$4.5B-0.7%	$4.2B-7.7%	$4.8B+3.4%	$4.8B+12.2%	$4.5B-1.6%
Cash & Equivalents	$1.0B+12.3%	$1.5B+12.3%	$1.2B+0.5%	$978.3M+15.4%	$908.6M-1.6%	$1.3B+34.7%	$1.2B+78.4%	$847.6M+21.5%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$773.8M+13.3%	$897.8M+19.1%	$774.7M+13.6%	$754.8M+4.0%	$683.0M-9.0%	$753.6M-1.1%	$682.0M+7.9%	$725.5M+7.6%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$394.6M+0.1%	$395.3M+0.4%	$395.3M+0.2%	$395.2M+0.3%	$394.1M0.0%	$393.6M-0.3%	$394.6M+0.1%	$394.0M-0.2%
Total Liabilities	$3.3B-6.1%	$4.0B-1.9%	$3.7B-9.3%	$3.6B-7.9%	$3.5B-13.6%	$4.0B-0.9%	$4.1B+6.9%	$3.9B-4.2%
Long-Term Debt	$1.7B+0.1%	$1.7B+0.1%	$1.7B-8.9%	$1.7B-8.8%	$1.7B-8.8%	$1.7B-0.2%	$1.9B+9.7%	$1.9B+9.7%
Total Equity	$881.3M+46.1%	$869.2M+36.6%	$841.5M+34.8%	$741.6M+61.7%	$603.0M+53.6%	$636.2M+50.1%	$624.3M+72.8%	$458.7M+27.4%
Retained Earnings	$1.6B+5.5%	$1.5B+3.1%	$1.5B+3.9%	$1.5B+6.9%	$1.5B+6.7%	$1.5B+5.0%	$1.4B+3.5%	$1.4B-3.4%

Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities, Non-Current Liabilities.

LAZ Cash Flow Statement

LAZ quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$517.6M	$519.3M-30.1%	$742.8M+351.1%	$164.7M-80.3%	$834.0M-3.7%	$866.1M+50.4%	$575.9M-15.0%	$678.0M-3.0%	$699.0M-32.1%	$1.0B+62.7%	$632.6M-28.7%	$887.3M+20.6%	$736.0M+39.7%	$526.7M+9.3%	$481.9M+21.1%	$397.8M
Depreciation & Amortization	N/A	$34.2M-5.8%	$36.3M-15.3%	$42.9M+1.2%	$42.3M+10.5%	$38.3M+9.2%	$35.1M-1.3%	$35.6M+4.3%	$34.1M+8.3%	$31.5M-5.3%	$33.3M+1.5%	$32.8M-4.9%	$34.5M-0.8%	$34.8M+12.6%	$30.9M+25.5%	$24.6M
Stock-Based Compensation	N/A	$359.7M+29.5%	$277.7M+10.8%	$250.6M+4.1%	$240.6M+2.9%	$234.0M+7.1%	$218.4M-13.8%	$253.3M-5.3%	$267.6M-2.0%	$273.0M+4.4%	$261.5M+15.3%	$226.7M+10.0%	$206.2M-12.6%	$235.9M-24.0%	$310.3M+12.8%	$275.1M
Capital Expenditures	$20.3M	$31.9M-29.8%	$45.5M+60.8%	$28.3M-42.8%	$49.5M+24.7%	$39.7M-38.2%	$64.3M+50.4%	$42.8M-13.8%	$49.6M+79.2%	$27.7M-28.6%	$38.7M+45.5%	$26.6M+20.0%	$22.2M-63.6%	$61.0M-31.7%	$89.3M+92.3%	$46.4M
Free Cash Flow	$497.3M	$487.4M-30.1%	$697.3M+411.4%	$136.4M-82.6%	$784.5M-5.1%	$826.4M+61.5%	$511.6M-19.5%	$635.2M-2.2%	$649.4M-35.1%	$1.0B+68.6%	$593.9M-31.0%	$860.7M+20.6%	$713.8M+53.3%	$465.7M+18.6%	$392.6M+11.7%	$351.4M
Investing Cash Flow	-$106.8M	-$82.0M-161.1%	$134.1M+449.8%	-$38.3M+32.1%	-$56.4M-44.5%	-$39.1M+37.9%	-$62.9M-49.0%	-$42.2M+8.6%	-$46.2M-71.7%	-$26.9M+28.5%	-$37.7M	N/A	N/A	-$54.6M+35.8%	-$84.9M-87.6%	-$45.3M
Financing Cash Flow	-$425.4M	-$463.6M-5.5%	-$439.7M+72.0%	-$1.6B-13.7%	-$1.4B-805.7%	$195.8M+135.8%	-$547.4M-23.3%	-$444.1M+38.8%	-$726.1M-128.0%	-$318.5M+33.6%	-$479.8M	N/A	N/A	-$487.1M+13.5%	-$563.2M-2.0%	-$552.4M
Dividends Paid	$188.6M	$186.6M+4.2%	$179.0M+3.4%	$173.1M-4.8%	$181.9M-7.2%	$195.9M-0.3%	$196.6M-22.9%	$254.9M-29.1%	$359.6M+5.3%	$341.4M+1.6%	$336.1M+15.6%	$290.7M+98.8%	$146.2M+20.2%	$121.6M-10.0%	$135.1M+91.4%	$70.6M
Share Buybacks	$56.5M	$91.0M+53.0%	$59.5M-41.7%	$102.1M-85.2%	$691.7M+70.3%	$406.1M+326.5%	$95.2M-80.8%	$494.7M-10.5%	$552.9M+80.2%	$306.7M+2.2%	$300.2M+73.8%	$172.8M-10.3%	$192.7M+45.4%	$132.5M-62.6%	$354.5M+73.0%	$204.8M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	-$219.3M-0.8%	$399.7M+10.2%	$287.5M-2.1%	$49.7M-71.8%	-$217.5M-141.7%	$362.9M+6.2%	$293.7M+777.1%	$176.2M-12.3%
Depreciation & Amortization	$7.8M-7.4%	$8.6M-4.0%	$8.5M-5.4%	$8.6M-6.1%	$8.4M-7.6%	$9.0M-15.7%	$9.0M-14.8%	$9.2M-12.7%
Stock-Based Compensation	$103.9M+34.6%	N/A	$96.1M+27.2%	$107.0M+19.7%	$77.2M+9.9%	N/A	$75.6M+29.5%	$89.3M+10.7%
Capital Expenditures	$2.2M-84.2%	$3.6M-75.9%	$2.9M-83.7%	$11.7M+81.4%	$13.8M+108.9%	$14.9M+69.2%	$17.6M+133.7%	$6.4M-12.7%
Free Cash Flow	-$221.5M+4.3%	$396.1M+13.8%	$284.6M+3.1%	$38.0M-77.6%	-$231.3M-139.5%	$348.0M+4.6%	$276.2M+963.2%	$169.8M-12.3%
Investing Cash Flow	-$47.5M-109.3%	-$18.0M-152.6%	-$14.9M-107.1%	-$26.3M+74.4%	-$22.7M-243.5%	$34.3M+495.9%	$209.3M+2981.7%	-$102.9M-1313.1%
Financing Cash Flow	-$153.4M+19.9%	-$134.7M+42.4%	-$97.4M+12.8%	-$40.0M+79.2%	-$191.6M-294.5%	-$233.9M-55.6%	-$111.7M+36.8%	-$192.6M-12.1%
Dividends Paid	$47.0M+4.5%	$47.4M+4.8%	$47.2M+4.6%	$47.1M+4.6%	$45.0M+2.8%	$45.2M+3.4%	$45.1M+3.8%	$45.0M+3.7%
Share Buybacks	$1.7M-95.3%	$50.0M+221.1%	$1.1M-65.2%	$3.8M-80.0%	$36.2M+64.3%	$15.6M	$3.1M+5.3%	$18.8M+10836.6%

LAZ Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LAZ quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	10.6%-2.1pp	12.7%+15.8pp	-3.2%-21.8pp	18.6%-4.0pp	22.7%+3.1pp	19.6%+4.4pp	15.2%-8.9pp	24.1%-7.1pp	31.2%+9.0pp	22.2%+22.9pp	-0.7%-23.3pp	22.6%+11.7pp	10.9%+4.4pp	6.5%-5.8pp	12.3%
Net Margin	7.6%-1.5pp	9.2%+12.2pp	-3.0%-15.9pp	12.9%-3.6pp	16.5%+0.9pp	15.7%+4.6pp	11.1%-7.6pp	18.6%+9.1pp	9.6%-7.0pp	16.6%-25.3pp	41.9%+23.3pp	18.6%+10.5pp	8.1%+3.7pp	4.4%-4.7pp	9.1%
Return on Equity	27.3%-16.7pp	44.0%+61.7pp	-17.7%-82.0pp	64.3%+10.2pp	54.1%+10.0pp	44.1%-2.8pp	47.0%-10.5pp	57.5%+36.3pp	21.1%-10.2pp	31.4%-43.7pp	75.1%+14.6pp	60.5%+31.9pp	28.6%+13.8pp	14.8%-9.3pp	24.1%
Return on Assets	4.8%-1.0pp	5.8%+7.5pp	-1.6%-7.7pp	6.1%-1.3pp	7.4%+0.6pp	6.7%+1.7pp	5.1%-5.5pp	10.5%+5.4pp	5.1%-3.4pp	8.5%-13.5pp	22.0%+9.2pp	12.8%+7.5pp	5.3%+2.5pp	2.8%-2.9pp	5.7%
Debt-to-Equity	1.94-0.7x	2.65-1.3x	3.99+1.0x	3.03+1.3x	1.73-0.1x	1.85-0.9x	2.75+1.2x	1.56+0.6x	0.990.0x	0.96+0.2x	0.75-2.9x	3.63-0.6x	4.25+0.2x	4.10+1.0x	3.05
Asset Turnover	0.630.0x	0.64+0.1x	0.54+0.1x	0.470.0x	0.450.0x	0.430.0x	0.46-0.1x	0.570.0x	0.540.0x	0.510.0x	0.53-0.2x	0.690.0x	0.660.0x	0.640.0x	0.62
FCF Margin	15.7%-7.1pp	22.9%+17.4pp	5.4%-22.9pp	28.3%+2.4pp	25.9%+5.9pp	19.9%-4.6pp	24.6%+1.6pp	23.0%-14.9pp	37.9%+12.4pp	25.4%-11.1pp	36.6%+5.5pp	31.0%+7.6pp	23.5%+2.9pp	20.5%+2.2pp	18.3%

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Margin	11.8%+3.4pp	9.4%-3.7pp	12.7%-7.8pp	11.7%+2.4pp	8.4%+1.3pp	13.1%+4.2pp	20.5%+21.5pp	9.3%+26.4pp
Net Margin	13.3%+4.0pp	5.5%-5.1pp	9.5%-4.2pp	7.0%-0.3pp	9.3%+4.6pp	10.6%+2.6pp	13.8%+12.4pp	7.3%+26.6pp
Return on Equity	11.5%+1.4pp	5.8%-7.8pp	8.5%-8.8pp	7.5%-3.4pp	10.0%+0.9pp	13.6%-1.5pp	17.3%+15.3pp	10.9%+45.3pp
Return on Assets	2.4%+1.0pp	1.0%-0.8pp	1.5%-0.7pp	1.2%+0.1pp	1.4%+0.7pp	1.8%+0.4pp	2.2%+2.1pp	1.1%+3.8pp
Debt-to-Equity	1.92-0.9x	1.94-0.7x	2.00-1.0x	2.28-1.8x	2.80-1.9x	2.65-1.3x	2.97-1.7x	4.04-0.7x
Asset Turnover	0.180.0x	0.180.0x	0.160.0x	0.180.0x	0.150.0x	0.170.0x	0.160.0x	0.150.0x
FCF Margin	-29.3%+6.4pp	43.7%+1.1pp	38.0%+2.9pp	4.8%-20.0pp	-35.7%-23.1pp	42.6%+1.3pp	35.2%+30.2pp	24.8%-5.3pp

Not reported in any period shown, so not listed: Gross Margin, Current Ratio.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Lazard, Inc. LAZ	FY2025	$3.1B	$237.0M	7.6%	$3.4B	44/100
MOELIS & COMPANY MC	FY2025	N/A	$259.6M	N/A	$4.2B	—
Piper Sandler Companies PIPR	FY2025	$1.9B	$281.3M	14.8%	$4.6B	53/100
StoneX Group Inc. SNEX	FY2025	$131.0B	$305.9M	0.2%	$8.1B	53/100
BGC Group, Inc. BGC	FY2025	$2.9B	$155.0M	5.3%	$5.8B	49/100
PJT Partners Inc. PJT	FY2025	$1.7B	$180.1M	10.5%	$3.5B	51/100

Where Lazard, Inc. Ranks

Frequently Asked Questions

What is Lazard, Inc.'s annual revenue?

Lazard, Inc. (LAZ) reported $3.1B in total revenue for fiscal year 2025. This represents a 1.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Lazard, Inc.'s revenue growing?

Lazard, Inc. (LAZ) revenue grew by 1.5% year-over-year, from $3.1B to $3.1B in fiscal year 2025.

Is Lazard, Inc. profitable?

Yes, Lazard, Inc. (LAZ) reported a net income of $237.0M in fiscal year 2025, with a net profit margin of 7.6%.

What is Lazard, Inc.'s EBITDA?

Lazard, Inc. (LAZ) had EBITDA of $361.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Lazard, Inc. have?

As of fiscal year 2025, Lazard, Inc. (LAZ) had $1.5B in cash and equivalents against $1.7B in long-term debt.

What is Lazard, Inc.'s operating margin?

Lazard, Inc. (LAZ) had an operating margin of 10.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Lazard, Inc.'s net profit margin?

Lazard, Inc. (LAZ) had a net profit margin of 7.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Lazard, Inc. pay dividends?

Yes, Lazard, Inc. (LAZ) paid $2.00 per share in dividends during fiscal year 2025.

What is Lazard, Inc.'s return on equity (ROE)?

Lazard, Inc. (LAZ) has a return on equity of 27.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Lazard, Inc.'s free cash flow?

Lazard, Inc. (LAZ) generated $487.4M in free cash flow during fiscal year 2025. This represents a -30.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Lazard, Inc.'s operating cash flow?

Lazard, Inc. (LAZ) generated $519.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Lazard, Inc.'s total assets?

Lazard, Inc. (LAZ) had $4.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Lazard, Inc.'s capital expenditures?

Lazard, Inc. (LAZ) invested $31.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Lazard, Inc. buy back shares?

Yes, Lazard, Inc. (LAZ) spent $91.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Lazard, Inc. have outstanding?

Lazard, Inc. (LAZ) had 112M shares outstanding as of fiscal year 2025.

What is Lazard, Inc.'s debt-to-equity ratio?

Lazard, Inc. (LAZ) had a debt-to-equity ratio of 1.94 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Lazard, Inc.'s return on assets (ROA)?

Lazard, Inc. (LAZ) had a return on assets of 4.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Lazard, Inc.'s P/E ratio?

Lazard, Inc. (LAZ) trades at 12.4x earnings, its market capitalization divided by net income of $277.5M net income, trailing 12 months to March 31, 2026. The market capitalization is $3.4B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lazard, Inc.'s price-to-sales ratio?

Lazard, Inc. (LAZ) trades at 1.1x sales, its market capitalization divided by revenue of $3.2B revenue, trailing 12 months to March 31, 2026. The market capitalization is $3.4B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lazard, Inc.'s Piotroski F-Score?

Lazard, Inc. (LAZ) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Lazard, Inc.'s earnings high quality?

Lazard, Inc. (LAZ) has an earnings quality ratio of 2.19x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Lazard, Inc. cover its interest payments?

Lazard, Inc. (LAZ) has an interest coverage ratio of 3.75x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Lazard, Inc.?

Lazard, Inc. (LAZ) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.