profit from every $100 of sales.
$0$100
Lazard
$40.87-2.46% today
-21.3% in 1 year
1-year low $34.661-year high $57.00
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2020 to 2025.
0%20% a year
You pay $18.52 for every $1 of profit it makes in a year.
CheapExpensive
Not measured for banks and insurers: deposits and policy reserves count as debt, so the usual debt test says nothing about them.
Money in, money out
What Lazard sold, what it kept, and what it did with the cash.
Sales went from $2.83 billion in 2022 to $3.15 billion in 2025, with $237 million of profit last year.
SalesProfit
Lazard handed back 57% of the cash it generated last year.
Buybacks $91M$187M
Free cash flow 2025$487M
Bought back its own shares$91M
Paid as dividends$187M
Cash vs. debt$1.5B vs. $2.2B
Lazard vs. similar companies
Lazard grows the slowest of these 5 and is priced in the middle for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| Lazard | 18.5× · Fair price | ||
 Raymond James Financial | 15.1× · Fair price | ||
 Tradeweb Markets | 35.3× · Expensive | ||
 Nomura Holdings | 13.1× · Cheap | ||
 LPL Financial Holdings | 26.4× · Fair price |
AI analysis
An AI analyst reads Lazard's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 2,647 | 3,274 | 2,826 | 2,551 | 3,086 | 3,148 | |
| – | – | 1,169 | 605 | 1,083 | 1,063 | |
| – | – | 569 | -44 | 421 | 377 | |
| 537 | 762 | 641 | 41 | 511 | 449 | |
| 402 | 528 | 358 | -75 | 280 | 237 | |
| 3.54 | 4.63 | 3.51 | -0.90 | 2.68 | 2.17 | |
| – | – | 41.4% | 23.7% | 35.1% | 33.8% | |
| – | – | 20.1% | -1.7% | 13.6% | 12.0% | |
| 15.2% | 16.1% | 12.7% | -3.0% | 9.1% | 7.5% |
Balance sheet
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Total assets | 5,972 | 7,147 | 5,853 | 4,636 | 4,794 | 4,941 |
| Cash | 1,390 | 1,465 | 1,235 | 971 | 1,308 | 1,469 |
| Total debt | 2,290 | 2,238 | 2,201 | 2,175 | 2,193 | 2,173 |
| Total liabilities | 4,972 | 5,494 | 4,594 | 4,066 | 4,029 | 3,952 |
| 912 | 975 | 556 | 424 | 636 | 874 | |
| 113 | 114 | 101 | 89 | 102 | 106 | |
| 12.4% | 17.8% | 17.1% | -0.1% | 13.3% | 10.8% | |
| 44.1% | 54.1% | 64.2% | -17.8% | 44.0% | 27.1% |
Cash flow
| In millions of USD | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| 576 | 866 | 834 | 165 | 743 | 519 | |
| 64 | 40 | 50 | 28 | 45 | 32 | |
| 512 | 826 | 784 | 136 | 697 | 487 | |
| Dividends paid | 197 | 196 | 182 | 173 | 179 | 187 |
| 95 | 406 | 692 | 102 | 60 | 91 | |
| 218 | 234 | 241 | 251 | 278 | 360 |
This is a bank or insurer, so cash-flow and debt ratios are left out: borrowing and lending is the business itself. Price to book and return on equity are the measures that matter here.
Valuation
- 18.5×
- 13.8×
- –
- 5.3×
- 1.4×
- 5.4%
- 4.3%
Profitability
- 7.5%
- 7.5%
- 8.7%
- 33.2%
- 6.5%
Growth
- +3.5%
- −9.3%
- +1.2%
- −2.1%
How it ranks in Financial Services
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 33%of 828
Bottom 27%of 711
Bottom 31%of 875
Bottom 32%of 878
Top 23%of 926
What analysts expect
- Average price target
- $47.33
- Range
- $45.00 – $52.00
- 3 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 1, 2026 | 0.42 | 0.52 | −19.2% |
| Jan 29, 2026 | 0.80 | 0.68 | +17.6% |
| Oct 23, 2025 | 0.56 | 0.44 | +26.0% |
| Jul 24, 2025 | 0.52 | 0.38 | +36.8% |
| Apr 25, 2025 | 0.56 | 0.29 | +93.1% |
| Jan 30, 2025 | 0.78 | 0.69 | +13.0% |
| Oct 31, 2024 | 0.38 | 0.41 | −7.3% |
| Jul 25, 2024 | 0.52 | 0.35 | +48.6% |
4.3%of the share price, paid each year
On $1,000 invested$43a year at today's yield, before tax
+1.2%2020 to 2025
Raised–not every year
Paid per share, each year
$2.35 in 2015 → $2.00 in 2025
How safe it looks
78.8% of its profit
Room to growStretchedMore than it earns: 38.3%
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
46No pass
Benjamin Graham
22No pass
Philip Fisher
43No pass
Peter Lynch
14No pass
Joel Greenblatt
38No pass
Charlie Munger
40No pass
Terry Smith
42No pass
Questions about Lazard
Is Lazard a good stock to buy?
A business with weak numbers at a fair price. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Lazard AI analysis
What does Lazard do?
Lazard 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. It is in Financial - Capital Markets, based in New York, NY, United States, with 3,293 employees.
Does Lazard pay a dividend?
Yes. At today's price the dividend is 4.3% a year, about 79% of its yearly profit. In 2025 it paid out $187 million in dividends.
Is Lazard stock halal?
No. Lazard does not pass our halal screen: its debt is 50% of its market value, at or above the 33% limit. How we check
How has Lazard stock done over the past year?
Down 21.3% over the past twelve months, to $40.87. It traded between $34.66 and $57.00 and is 28.3% below its high.
Who are Lazard's competitors?
The largest listed companies in the same industry are Raymond James Financial, Tradeweb Markets, Nomura Holdings and LPL Financial Holdings. The peers table on this page compares their profit, growth and price with Lazard's.
Prices: daily closes to Nov 12, 2026. Fundamentals: company reports via invest-like data.