Lazard, Inc. LAZ

Financials SIC 6282 - Investment Advice NAICS Finance and Insurance › Securities, Commodity Contracts, and Other Financial Investments and Related Activities › Other Financial Investment Activities › Portfolio Management and Investment Advice derived NYSE

Founded in 1848, Lazard is a global financial advisory and asset management firm with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. We aim to deliver independent, differentiated advice and solutions grounded in contextual alpha—the broad insight and judgment needed to navigate macroeconomic, geopolitical, and other factors that we believe help leaders see beyond what the world sees today.

Last close 37.21 2026-10-23
Market cap $4.16B 2026-03-31 share count
52-week range 34.13 - 58.75

Valuation FY2025 figures against the last close

P/S1.3x
P/E17.1x
P/FCF8.5x
EV/EBITDA12.1x
Dividend yield4.5%
Diluted EPS2.17

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.19B$3.14B$2.59B$2.86B$3.27B$2.65B$2.67B$2.88B$2.70B$2.38B
Total operating expenses $2.77B$2.67B$2.60B$2.26B$2.47B$2.06B$2.19B$2.15B$1.82B$1.82B
Operating income $327.6M$386.5M-$80.0M$516.8M$723.8M$502.1M$392.7M$680.8M$825.4M$517.5M
Interest expense $87.3M$87.8M$77.5M$81.5M$80.8M$80.6M$80.2M$58.5M$53.5M$50.3M
Pre-tax income $327.6M$386.5M-$80.0M$482.4M$709.3M$501.9M$381.5M$675.4M$819.2M$511.5M
Income tax $76.6M$99.8M$22.6M$124.4M$181.3M$99.4M$95.0M$148.3M$565.6M$123.8M
Net income $237.0M$280.0M-$75.0M$358.0M$528.0M$402.5M$286.5M$527.1M$253.6M$387.7M
EPS, basic 2.372.93-0.903.684.903.692.574.432.093.11
EPS, diluted 2.172.68-0.903.514.633.542.444.061.912.92
Shares, diluted (wtd. avg.) 106.3M102.4M89.0M101.0M113.7M113.5M116.1M129.8M132.5M132.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.47B$1.31B$971.3M$1.23B$1.47B$1.39B$1.23B$1.25B$1.48B$1.16B
Property, plant and equipment $168.0M$160.4M$232.5M$250.1M$250.0M$257.6M$219.8M$212.9M$205.3M$209.0M
Goodwill $395.3M$393.6M$394.9M$377.2M$379.4M$383.9M$371.8M$371.6M$385.3M$373.1M
Other intangibles ————$150.0K$210.0K$1.8M$3.8M$6.1M$8.9M
Total assets $4.94B$4.79B$4.64B$5.85B$7.15B$5.97B$5.64B$5.00B$4.93B$4.56B
Long-term debt $1.69B$1.69B$1.69B$1.69B$1.69B$1.68B$1.68B$1.43B$1.19B$1.19B
Total liabilities $3.95B$4.03B$4.07B$4.59B$5.49B$4.97B$4.96B$4.03B$3.67B$3.26B
Retained earnings $1.49B$1.47B$1.40B$1.68B$1.56B$1.30B$1.19B$1.20B$1.08B$1.13B
Total equity $873.7M$636.2M$482.2M$675.4M$1.08B$999.4M$681.6M$970.1M$1.26B$1.29B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $519.3M$742.8M$164.7M$834.0M$866.1M$575.9M$678.0M$699.0M$1.03B$632.6M
Depreciation and amortisation $34.2M$36.3M$42.9M$42.3M$38.3M$35.1M$35.6M$34.1M$31.5M$33.3M
Capital expenditure $31.9M$45.5M$28.3M$49.5M$39.7M$64.3M$42.8M$49.6M$27.7M$38.7M
Investing cash flow -$82.0M$134.1M-$38.3M-$56.4M-$39.1M-$62.9M-$42.2M-$46.2M-$26.9M-$37.7M
Financing cash flow -$463.6M-$439.7M-$1.57B-$1.38B$195.8M-$547.4M-$444.1M-$726.1M-$318.5M-$479.8M
Dividends paid $186.6M$179.0M$173.1M$181.9M$195.9M$196.6M$254.9M$359.6M$341.4M$336.1M
Buybacks $91.0M$59.5M$102.1M$691.7M$406.1M$95.2M$494.7M$552.9M$306.7M$300.2M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-024088.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B 4B Revenue, FY2016: 2.4B Net income, FY2016: 387.7M Revenue, FY2017: 2.7B Net income, FY2017: 253.6M Revenue, FY2018: 2.9B Net income, FY2018: 527.1M Revenue, FY2019: 2.7B Net income, FY2019: 286.5M Revenue, FY2020: 2.6B Net income, FY2020: 402.5M Revenue, FY2021: 3.3B Net income, FY2021: 528M Revenue, FY2022: 2.9B Net income, FY2022: 358M Revenue, FY2023: 2.6B Net income, FY2023: -75M Revenue, FY2024: 3.1B Net income, FY2024: 280M Revenue, FY2025: 3.2B Net income, FY2025: 237M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.38B $2.70B $2.88B $2.67B $2.65B $3.27B $2.86B $2.59B $3.14B $3.19B
Gross profit — — — — — — — — — —
Net income $387.7M $253.6M $527.1M $286.5M $402.5M $528.0M $358.0M -$75.0M $280.0M $237.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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