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LAZLazard Ltd
$41.74$4.1B
Overview & Verdict
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LAZ logoLazard Ltd(LAZ)Earnings, Financials & Key Ratios

LAZ•NYSE
$41.74
19.2× P/E·Price updated Jul 7, 2026
SectorFinancial ServicesIndustryCapital MarketsSub-IndustryInvestment Banking and M&A Advisory
AboutLazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, restructurings, capital advisory, shareholder advisory, capital raising, sovereign advisory, and other strategic advisory matters. This segment serves corporate, partnership, institutional, government, sovereign, and individual clients across various industry areas, including consumers, financial institutions, healthcare and life sciences, industrials, power and energy/infrastructure, and real estate, as well as technology, telecommunication, and media and entertainment. The Asset Management segment offers a range of investment solutions, and 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. The company was founded in 1848 and is based in Hamilton, Bermuda.Show more
  • EBITDA$450M+6.3%
  • Net Income$237M-15.4%
  • EPS (Diluted)2.17-19.0%
  • Gross Margin31.79%-9.4%
  • EBITDA Margin14.11%+2.9%
  • Operating Margin13.03%+4.1%
  • Net Margin7.43%-18.1%
  • ROE27.01%-35.6%

LAZ Price & Volume

Lazard Ltd (LAZ) stock price & volume — 10-year historical chart

Loading chart...

Cyclical Advisory Revenue Masks Structural Margin Volatility

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Strained
Cash Flow:Deteriorating
Primary Risk:Cyclical M&A Revenue Volatility

Key Thesis Takeaways

  • Lazard faces a challenging outlook as its advisory-heavy model struggles with significant quarterly margin variance, evidenced by operating margins that retreated from 20.3% in 2024Q3 to 13.6% in 2026Q1.
  • While the firm maintains a 4.4% dividend yield, the sustainability of these returns is threatened by inconsistent cash generation and a debt-to-equity ratio of 2.27.
  • Investors should remain cautious regarding the firm's ability to achieve operating leverage, as high variable compensation costs and lumpy success-fee revenue continue to obscure underlying earnings quality.

Verdict Logic

while the 4.4% dividend yield is attractive, the firm's volatile operating cash flow to net income ratio of -2.17 in 2026Q1 suggests that current earnings may not be sufficient to support long-term capital allocation.

LAZ Growth Metrics

Lazard Ltd (LAZ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years2.88%
5 Years3.83%
3 Years4.09%
TTM-

Profit CAGR

10 Years-13.3%
5 Years-10.06%
3 Years-12.83%
TTM-8.92%

EPS CAGR

10 Years-11.54%
5 Years-9.32%
3 Years-14.81%
TTM-11.15%

Return on Capital

10 Years13.06%
5 Years8.95%
3 Years5.92%
Last Year9.49%

LAZ Recent Earnings

Lazard Ltd (LAZ) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
May 1, 2026
Metric
Actual
Est
EPS
$0.42-19.2%
$0.52
Rev
$673M-4.9%
$707M
Q1 2026
Jan 29, 2026
Metric
Actual
Est
EPS
$0.80+17.6%
$0.68
Rev
$907M+10.3%
$822M
Q4 2025
Oct 23, 2025
Metric
Actual
Est
EPS
$0.56+26.0%
$0.44
Rev
$782M+7.7%
$726M
Q3 2025
Jul 24, 2025
Metric
Actual
Est
EPS
$0.52+36.8%
$0.38
Rev
$808M+9.2%
$740M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 1, 2026
$0.42vs $0.52-19.2%
$673Mvs $707M-4.9%
Q1 2026Jan 29, 2026
$0.80vs $0.68+17.6%
$907Mvs $822M+10.3%
Q4 2025Oct 23, 2025
$0.56vs $0.44+26.0%
$782Mvs $726M+7.7%
Q3 2025Jul 24, 2025
$0.52vs $0.38+36.8%
$808Mvs $740M+9.2%
Based on last 12 quarters of dataView full earnings history →

Latest LAZ News

Recent stock market news and headlines for Lazard Ltd (LAZ)

PRNewsWire·Jun 23, 2026
Lazard Global Total Return and Income Fund Declares Monthly Distribution and Issues Estimated Sources of the Distribution Announced in May

NEW YORK, June 23, 2026 /PRNewswire/ -- Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution of $0.15340 per share on the Fund's outstanding common stock. The distribution is payable on July 22, 2026, to shareholders of record on July 10, 2026.

Zacks Investment Research·Jun 16, 2026
Asset Managers' May AUM Climbs: TROW, LAZ, BEN & IVZ in Focus

BEN, TROW, LAZ and IVZ see May AUM rise on market gains, ETF demand and steady inflows across retirement and long-term strategies.

GuruFocus·Jun 15, 2026
Lazard Offers $25 Million Fee to Challenge Venezuela Debt Mandate

Lazard (LAZ) is making a late move to challenge Centerview Partners for Venezuela's financial advisory mandate, offering to oversee what could become one of the

Peers Comparison

Key metrics vs top competitors for Lazard Ltd (LAZ)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
LAZ logoLAZLazard LtdCurrent
$41.74$4.11B19.243.25%7.43%27.01%4.2%
EVR logoEVREvercore Inc.
$346.87$13.42B24.6929.49%16.3%35.52%—
PJT logoPJTPJT Partners Inc.
$168.56$4.07B25.2314.77%10.32%20.08%—
MC logoMCMoelis & Company
$69.84$5.19B23.7626.98%14.46%35.15%—
HLI logoHLIHoulihan Lokey, Inc.
$139.12$9.61B22.379.55%16.26%18.57%—
PWP logoPWPPerella Weinberg Partners
$16.31$1.65B29.65-14.48%2.85%16.26%—

Compare LAZ vs Peers

Lazard Ltd (LAZ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EVR

Most directly comparable listed peer for LAZ.

Scale Benchmark

vs JPM

Larger-name benchmark to compare LAZ against a more recognizable public peer.

Peer Set

Compare Top 5

vs EVR, PJT, MC, HLI

LAZ SEC Filings & Documents

Lazard Ltd (LAZ) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 22, 2026·SEC

Material company update

May 1, 2026·SEC

Material company update

Apr 30, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 23, 2026·SEC

FY 2025

Feb 24, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 4, 2026·SEC

FY 2025

Oct 27, 2025·SEC

FY 2025

Jul 25, 2025·SEC

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LAZ Frequently Asked Questions

Lazard Ltd (LAZ) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Lazard Ltd's revenue?

Lazard Ltd (LAZ) reported $3.27B in revenue for fiscal year 2025.

How fast is Lazard Ltd growing?

Lazard Ltd (LAZ) grew revenue by 3.2% over the past year. Growth has been modest.

Is LAZ profitable?

Yes, Lazard Ltd (LAZ) is profitable, generating $277.4M in net income for fiscal year 2025 (7.4% net margin).

Dividend & Returns
Does LAZ pay dividends?

Yes, Lazard Ltd (LAZ) pays a dividend with a yield of 4.20%. This makes it attractive for income-focused investors.

What is LAZ's return on equity?

Lazard Ltd (LAZ) has a return on equity (ROE) of 27.0%. This is excellent, indicating efficient use of shareholder capital.

What is Lazard Ltd's free cash flow?

Lazard Ltd (LAZ) generated $529.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in LAZ back in 2004?

Total return calculator · dividends reinvested · 22+ years of data

See returns →