Lazard, Inc. (LAZ)
Lazard, Inc. operates as a financial advisory and asset management firm in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services. This segment offers its services to corporate, partnership, institutional, government, sovereign, and individual clients to various industry areas, including consumers and retail; financial institutions; financial sponsors; healthcare and life sciences; industrials; media, entertainment, and sports; power, energy, and infrastructure; real estate; technology; and telecom and digital infrastructure. The Asset Management segment offers a range of investment solutions; investment and wealth management services in equity and fixed income strategies; asset allocation strategies; and alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries, and private clients. It also provides primary fundraising, secondary advisory, and GP capital advisory services for private equity, private credit, infrastructure, and real estate markets. Lazard, Inc. was incorporated in 1848 and is headquartered in New York, New York.
- Ticker
- LAZ
- Exchange
- NYSE
- Sector
- Financial Services
- Industry
- Capital Markets
- Market cap
- $3.87B
- 52-week range
- $34.13 - $58.75
Valuation
- Share price
- $38.31 (close of Nov 6, 2026)
- P/E (TTM)
- 21.64x
- Price to book
- 4.12x
- Price to free cash flow
- 5.65x
- Enterprise value
- $4.77B
- Book value per share
- $9.31
Price performance
| Period | Change |
|---|---|
| 1 day | -0.57% |
| 5 days | -0.10% |
| 1 month | +5.36% |
| 3 months | -11.57% |
| 6 months | -17.72% |
| Year to date | -21.11% |
| 1 year | -22.68% |
| 3 years | +35.32% |
| 5 years | -20.05% |
| 10 years | +0.87% |
| All time | +59.63% |
Short interest
- As of
- Oct 15, 2026
- Short % of float
- 10.32%
- Shares short
- 8.83M
- Days to cover
- 5.33
- Change since prior report
- +1.32%
- Source
- FINRA consolidated short interest
Members of Congress who disclosed LAZ trades
French Hill · Jefferson Shreve
Super investors holding LAZ
John Rogers (Ariel Investments LLC) · Mason Hawkins (Southeastern Asset Management)
Profitability and growth
- Return on equity
- 26.00%
- Return on assets
- 4.79%
- Net margin
- 7.64%
- Revenue growth
- 1.54%
- Net income growth
- -15.39%
- Free cash flow growth
- -30.11%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 17.70%
- Net debt to EBITDA
- 2.45x
Latest reported year
- Period end
- Dec 31, 2025
- Fiscal year
- 2025
- Revenue
- $3.10B
- Net income
- $236.83M
- Earnings per share
- $2.37
- Interest expense
- $87.62M
- Shares outstanding
- 97.48M
Income statement by year
| Period end | Revenue | Net income | EPS |
|---|---|---|---|
| 2025-12-31 | $3.10B | $236.83M | $2.37 |
| 2024-12-31 | $3.05B | $279.91M | $2.93 |
| 2023-12-31 | $2.52B | -$75.48M | -$0.90 |
| 2022-12-31 | $2.77B | $357.52M | $3.68 |
| 2021-12-31 | $3.19B | $528.06M | $4.90 |
| 2020-12-31 | $2.57B | $402.46M | $3.69 |
| 2019-12-31 | $2.59B | $286.50M | $2.57 |
| 2018-12-31 | $2.83B | $527.13M | $4.43 |
| 2017-12-31 | $2.64B | $253.58M | $2.09 |
| 2016-12-31 | $2.33B | $387.70M | $3.11 |
Margins and returns by year
| Period end | Net margin | Return on equity |
|---|---|---|
| 2025-12-31 | 7.64% | 26.00% |
| 2024-12-31 | 9.17% | 40.85% |
| 2023-12-31 | -3.00% | -15.65% |
| 2022-12-31 | 12.89% | 52.93% |
| 2021-12-31 | 16.54% | 48.99% |
| 2020-12-31 | 15.68% | 40.27% |
| 2019-12-31 | 11.08% | 42.04% |
| 2018-12-31 | 18.65% | 54.34% |
| 2017-12-31 | 9.59% | 20.14% |
| 2016-12-31 | 16.62% | 29.97% |
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $1.47B | $1.69B |
| 2024-12-31 | $1.31B | $1.69B |
| 2023-12-31 | $971.32M | $1.69B |
| 2022-12-31 | $1.23B | $1.69B |
| 2021-12-31 | $1.47B | $1.69B |
| 2020-12-31 | $1.39B | $1.68B |
| 2019-12-31 | $1.23B | $1.68B |
| 2018-12-31 | $1.25B | $1.43B |
| 2017-12-31 | $1.48B | $1.19B |
| 2016-12-31 | $1.16B | $1.19B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $487.38M | $359.69M |
| 2024-12-31 | $697.33M | $277.74M |
| 2023-12-31 | $136.37M | $250.57M |
| 2022-12-31 | $784.47M | $240.64M |
| 2021-12-31 | $826.38M | $233.96M |
| 2020-12-31 | $511.64M | $218.45M |
| 2019-12-31 | $635.20M | $253.28M |
| 2018-12-31 | $649.45M | $267.57M |
| 2017-12-31 | $1.00B | $272.96M |
| 2016-12-31 | $593.85M | $261.46M |
Dividend history
- Most recent payment
- Nov 2, 2026
- Paid in the last twelve months
- $2.00
| Payment date | Dividend per share |
|---|---|
| 2026-11-02 | $0.50 |
| 2026-08-03 | $0.50 |
| 2026-05-11 | $0.50 |
| 2026-02-09 | $0.50 |
| 2025-11-03 | $0.50 |
| 2025-08-04 | $0.50 |
| 2025-05-05 | $0.50 |
| 2025-02-10 | $0.50 |
Investor relations
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-10-22 | Sep 2026 | $0.43 |
| 2026-07-23 | Jun 2026 | $0.42 |
| 2026-05-01 | Mar 2026 | $0.52 |
| 2026-01-29 | Dec 2025 | $0.68 |
| 2025-10-23 | Sep 2025 | $0.41 |
| 2025-07-24 | Jun 2025 | $0.38 |
| 2025-04-25 | Mar 2025 | $0.29 |
| 2025-01-30 | Dec 2024 | $0.51 |
Filings and sources
- Company website
- lazard.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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