20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
Lazard Ltd (LAZ) operates in the CAPITAL MARKETS industry and is headquartered in New York, United States with about 3,279 employees. Its market capitalization is roughly $3 billion. In the fiscal year ended 2025-12-31, LAZ reported $3.2B in revenue and $237M in net income.
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.
Interactive charts & full statements → Open the LAZ valuation workbench →
| Income statement | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $3.3B | $3.2B | $3.1B | $2.6B | $2.8B | $3.3B | $2.6B | $2.7B | $2.9B | $2.7B | $2.4B | $2.4B | $2.4B | $2.1B | $2.0B | $1.9B | $2.0B | $1.5B | $1.6B | $1.9B | $1.5B |
| Gross Profit | $1.6B | $1.0B | $1.1B | $605M | $1.2B | $1.4B | $1.1B | $1.1B | $1.4B | $1.2B | $1.0B | $1.1B | $1.0B | $781M | $637M | $736M | $788M | $83M | $274M | $633M | $514M |
| Gross Margin % | 47.2% | 31.8% | 35.1% | 23.7% | 41.4% | 42.0% | 41.3% | 41.0% | 47.2% | 43.8% | 43.6% | 45.0% | 44.3% | 37.9% | 32.0% | 38.6% | 39.8% | 5.4% | 17.6% | 33.0% | 34.4% |
| Operating Income (EBIT) | $345M | $415M | $386M | ($80M) | $517M | $724M | $502M | $393M | $681M | $825M | $517M | ($17M) | $519M | $217M | $124M | $235M | $244M | ($182M) | $25M | $418M | $327M |
| Operating Margin % | 10.5% | 13.0% | 12.5% | -3.1% | 18.3% | 22.1% | 19.0% | 14.8% | 23.7% | 30.7% | 21.8% | -0.7% | 22.0% | 10.5% | 6.2% | 12.4% | 12.3% | -11.9% | 1.6% | 21.8% | 21.9% |
| Net Income | $227M | $237M | $280M | ($75M) | $358M | $528M | $402M | $286M | $527M | $254M | $388M | $986M | $427M | $160M | $84M | $175M | $175M | ($130M) | $3M | $155M | $93M |
| Net Margin % | 6.9% | 7.4% | 9.1% | -3.0% | 12.7% | 16.2% | 15.2% | 10.8% | 18.4% | 9.4% | 16.3% | 41.1% | 18.1% | 7.8% | 4.2% | 9.2% | 8.8% | -8.5% | 0.2% | 8.1% | 6.2% |
| EBITDA | $400M | $449M | $511M | $41M | $641M | $843M | $620M | $528M | $757M | $920M | $636M | $73M | $623M | $341M | $245M | $362M | $372M | ($47M) | $190M | $594M | $347M |
| Earnings Per Share (EPS) | $2.13 | $2.23 | $2.73 | $-0.85 | $3.54 | $4.65 | $3.55 | $2.47 | $4.06 | $1.91 | $2.92 | $7.40 | $3.19 | $1.20 | $0.65 | $1.27 | $1.26 | $-1.66 | $0.02 | $2.49 | $2.11 |
| Shares Outstanding (M) | 107M | 106M | 102M | 89M | 101M | 114M | 113M | 116M | 130M | 132M | 133M | 133M | 134M | 134M | 129M | 138M | 138M | 78M | 127M | 62M | 44M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly income statement | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $830M | $772M | $929M | $763M | $808M | $658M | $825M | $792M |
| Gross Profit | $808M | $280M | $204M | $265M | $289M | $227M | $290M | $327M |
| Gross Margin % | 97.3% | 36.2% | 21.9% | 34.7% | 35.7% | 34.6% | 35.2% | 41.3% |
| Operating Income (EBIT) | $38M | $105M | $108M | $95M | $93M | $55M | $107M | $161M |
| Operating Margin % | 4.5% | 13.6% | 11.6% | 12.4% | 11.5% | 8.3% | 13.0% | 20.3% |
| Net Income | $5M | $101M | $50M | $71M | $55M | $60M | $86M | $108M |
| Net Margin % | 0.6% | 13.1% | 5.4% | 9.3% | 6.9% | 9.2% | 10.5% | 13.6% |
| EBITDA | $38M | $120M | $116M | $126M | $123M | $84M | $138M | $193M |
| Earnings Per Share (EPS) | $0.04 | $0.95 | $0.46 | $0.67 | $0.53 | $0.58 | $0.81 | $1.04 |
| Shares Outstanding (M) | 107M | 107M | 108M | 106M | 105M | 105M | 106M | 103M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Cash flow | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $675M | $537M | $743M | $165M | $834M | $866M | $576M | $678M | $699M | $1.0B | $633M | $887M | $736M | $527M | $482M | $398M | $169M | $245M | $506M | $72M | $238M |
| Capital Expenditures (CapEx) | $33M | $32M | $45M | $28M | $50M | $40M | $64M | $43M | $50M | $28M | $39M | $27M | $22M | $61M | $89M | $46M | $13M | $12M | $19M | $15M | $8M |
| Free Cash Flow (FCF) | $642M | $505M | $697M | $136M | $784M | $826M | $512M | $635M | $649M | $1.0B | $594M | $861M | $714M | $466M | $393M | $351M | $155M | $233M | $487M | $57M | $230M |
| FCF Margin % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends Paid | $191M | $187M | $179M | $173M | $182M | $196M | $197M | $255M | $360M | $341M | $336M | $291M | $146M | $122M | $135M | $71M | $51M | $33M | $101M | $18M | $13M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly cash flow | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $203M | ($219M) | $403M | $287M | $50M | ($218M) | $363M | $384M |
| Capital Expenditures (CapEx) | $2M | $2M | $4M | $26M | $12M | $14M | $15M | $13M |
| Free Cash Flow (FCF) | $201M | ($221M) | $400M | $262M | $38M | ($231M) | $348M | $371M |
| FCF Margin % | — | — | — | — | — | — | — | — |
| Dividends Paid | $49M | $47M | $47M | $47M | $47M | $45M | $45M | $45M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Balance sheet | 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.4B | $4.9B | $4.8B | $4.6B | $5.9B | $7.1B | $6.0B | $5.7B | $5.0B | $4.9B | $4.6B | $4.5B | $3.4B | $3.0B | $3.0B | $3.1B | $3.4B | $3.1B | $2.9B | $3.8B | $3.2B |
| Cash & Cash Equivalents | $1.1B | $1.5B | $1.3B | $971M | $1.2B | $1.5B | $1.4B | $1.2B | $1.2B | $1.5B | $1.2B | $1.1B | $1.1B | $841M | $850M | $1.3B | $1.6B | $917M | $910M | $1.1B | $969M |
| Total Liabilities | $3.5B | $4.0B | $4.0B | $4.1B | $4.6B | $5.5B | $5.0B | $5.0B | $4.0B | $3.7B | $3.3B | $3.1B | $2.6B | $2.4B | $2.3B | $2.2B | $2.6B | $2.6B | $2.5B | $3.7B | $3.4B |
| Total Debt (Short + Long-Term) | $0M | $1.8B | $1.8B | $1.8B | $1.8B | $1.8B | $313M | $2.0B | $1.7B | $1.5B | $1.7B | $2.7B | $2.1B | $2.1B | $1.1B | $1.1B | $1.2B | $1.3B | $1.3B | $1.8B | $1.3B |
| Total Shareholders' Equity | $914M | $874M | $636M | $424M | $1.3B | $1.7B | $912M | $610M | $970M | $1.3B | $1.3B | $1.4B | $769M | $630M | $570M | $726M | $652M | $355M | $251M | $70M | ($240M) |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive LAZ viewer.
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