Lazard, Inc. (LAZ) Financial Statements
Industry: Investment Advice
In fiscal 2025, Lazard reported revenue of $3.19B, up 1.5% from $3.14B the year before. Net income was $236.8M (a 7.4% net margin), or $2.17 per diluted share. Gross margin was 13.0% and operating margin was 10.3%. Operating activities generated $519.3M of cash, leaving $487.4M of free cash flow. At fiscal year end, Lazard held $4.94B in total assets against $3.95B in total liabilities, including $1.47B of cash and equivalents.
Open the full interactive Lazard financials → Quarterly statements, key ratios, valuation history and price charts.
Lazard Key Stats
| Share Price | $36.52 |
|---|---|
| Market Cap | $3.92B |
| P/E Ratio | 16.8 |
| Revenue YoY Growth | +1.5% |
| 52-Week Range | $35.28 – $55.74 |
| Shares Outstanding | 101.4 million (basic, 2026 Q2) |
Lazard Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.65B | $3.27B | $2.86B | $2.59B | $3.14B | $3.19B |
| Cost of Goods Sold | $2.06B | $2.47B | $2.26B | $2.60B | $2.67B | $2.77B |
| Gross Profit | $582.8M | $804.6M | $598.4M | -$2.3M | $474.5M | $415.2M |
| Operating Income | $502.1M | $723.8M | $516.8M | -$80.0M | $386.5M | $327.6M |
| Pre-Tax Income | $501.9M | $709.4M | $481.9M | -$98.1M | $379.7M | $327.6M |
| Income Tax | $99.4M | $181.3M | $124.4M | -$22.6M | $99.8M | $76.6M |
| Net Income | $402.5M | $528.1M | $357.5M | -$75.5M | $279.9M | $236.8M |
| Diluted EPS | $3.54 | $4.63 | $3.51 | -$0.90 | $2.68 | $2.17 |
Lazard Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $770.8M | $929.4M | $779.4M | $830.2M |
| Net Income | $71.2M | $49.9M | $100.9M | $4.8M |
| Diluted EPS | $0.65 | $0.47 | $0.91 | $0.03 |
Lazard Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.39B | $1.47B | $1.23B | $971.3M | $1.31B | $1.47B |
| Total Assets | $5.97B | $7.15B | $5.85B | $4.64B | $4.79B | $4.94B |
| Total Long-Term Debt | $1.68B | $1.69B | $1.69B | $1.69B | $1.69B | $1.69B |
| Total Liabilities | $4.97B | $5.49B | $4.59B | $4.07B | $4.03B | $3.95B |
| Shareholders' Equity | $911.8M | $975.2M | $556.5M | $423.8M | $636.2M | $873.7M |
Lazard Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $575.9M | $866.1M | $834.0M | $164.7M | $742.8M | $519.3M |
| Cash From Investing | -$62.9M | -$39.1M | -$56.4M | -$38.3M | $134.1M | -$82.0M |
| Cash From Financing | -$547.4M | $195.8M | -$1.38B | -$1.57B | -$439.7M | -$463.6M |
| Free Cash Flow | $511.6M | $826.4M | $784.5M | $136.4M | $697.3M | $487.4M |
Figures from Lazard's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Lazard financials page for every line item.
Lazard Company Profile
| Ticker | LAZ |
|---|---|
| Exchange | NYSE |
| Industry | Investment Advice |
| Headquarters | New York, New York |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001311370 |
Frequently Asked Questions
What was Lazard's revenue in fiscal 2025?
Lazard (LAZ) reported revenue of $3.19B for fiscal 2025.
What is Lazard's annual revenue history?
Lazard's annual revenue by fiscal year: 2020: $2.65B; 2021: $3.27B; 2022: $2.86B; 2023: $2.59B; 2024: $3.14B; 2025: $3.19B.
What was Lazard's net income in fiscal 2025?
Lazard reported net income of $236.8M for fiscal 2025.
What was Lazard's earnings per share (EPS) in fiscal 2025?
Lazard's diluted EPS was $2.17 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Lazard generate in fiscal 2025?
Lazard generated $487.4M of free cash flow in fiscal 2025.
What was Lazard's revenue last quarter?
In its most recent reported quarter (2026 Q2), Lazard reported revenue of $830.2M.
How much debt does Lazard have?
Lazard reported $1.69B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Lazard are outstanding?
Lazard reported a weighted average of 101.4 million basic shares outstanding in 2026 Q2.
What is Lazard's market cap?
Based on its latest closing price, Lazard (LAZ) has a market capitalization of about $3.92B.
When does Lazard's fiscal year end?
Lazard's fiscal year end, as registered with the SEC, is December 31.
Where is Lazard headquartered?
Lazard lists its business address in New York, New York in its SEC filings.