(LAZ) Lazard - Overview
Sector: Financial Services | Industry: Capital Markets | Exchange: NYSE (USA) | Market Cap: 4.469m USD | Total Return: 15.9% in 12m
Avg Turnover: 50.1M
EPS Trend: 71.0%
Qual. Beats: -1
Rev. Trend: 90.1%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Lazard, Inc. is a global financial services firm operating across two primary segments: Financial Advisory and Asset Management. The Financial Advisory division provides strategic guidance on mergers and acquisitions, restructuring, and capital markets for a diverse client base including corporations, governments, and sovereign entities. The Asset Management division manages investment solutions across equity, fixed income, and alternative strategies for institutional and private clients.
Operating as a pure-play advisory firm, Lazard avoids the balance sheet risk associated with commercial lending, focusing instead on fee-based revenue. This business model relies heavily on intellectual capital and long-term relationships within the Investment Banking & Brokerage sub-industry. The firm’s global footprint allows it to capture cross-border transaction volume and diversify its management fees across various international markets.
Investors can further analyze these revenue streams and valuation metrics on ValueRay. Founded in 1848 and headquartered in New York, Lazard remains a prominent independent advisor in complex sovereign and corporate restructuring.
- Global merger and acquisition volume recovery drives financial advisory fee growth
- Net outflows in asset management segment pressure recurring management fee revenue
- Corporate restructuring demand increases during periods of elevated interest rates
- Talent acquisition and retention costs impact operating margins and profitability
- Geopolitical instability influences cross-border transaction flow and strategic advisory demand
| Net Income: 277.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -3.66 > 1.0 |
| NWC/Revenue: 50.44% < 20% (prev 49.82%; Δ 0.62% < -1%) |
| CFO/TA 0.12 > 3% & CFO 521.3m > Net Income 277.4m |
| Net Debt (1.40b) to EBITDA (485.4m): 2.88 < 3 |
| Current Ratio: 5.61 > 1.5 & < 3 |
| Outstanding Shares: last quarter (106.8m) vs 12m ago 1.87% < -2% |
| Gross Margin: 31.69% > 18% (prev 0.37%; Δ 3.13k% > 0.5%) |
| Asset Turnover: 77.24% > 50% (prev 70.17%; Δ 7.06% > 0%) |
| Interest Coverage Ratio: 5.06 > 6 (EBITDA TTM 485.4m / Interest Expense TTM 89.3m) |
| A: 0.39 (Total Current Assets 2.01b - Total Current Liabilities 357.7m) / Total Assets 4.24b |
| B: 0.37 (Retained Earnings 1.56b / Total Assets 4.24b) |
| C: 0.11 (EBIT TTM 451.9m / Avg Total Assets 4.24b) |
| D: 0.39 (Book Value of Equity 1.28b / Total Liabilities 3.29b) |
| Altman-Z'' = 4.88 = AA |
| DSRI: 1.03 (Receivables 773.8m/683.0m, Revenue 3.27b/2.97b) |
| GMI: 1.16 (GM 31.69% / 36.61%) |
| AQI: 0.96 (AQ_t 0.39 / AQ_t-1 0.41) |
| SGI: 1.10 (Revenue 3.27b / 2.97b) |
| TATA: -0.06 (NI 277.4m - CFO 521.3m) / TA 4.24b) |
| Beneish M = -2.87 (Cap -4..+1) = A |
As of May 24, 2026, the stock is trading at USD 47.68 with a total of 674,421 shares traded.
Over the past week, the price has changed by +6.26%,
over one month by +2.44%,
over three months by -1.53% and
over the past year by +15.88%.
Lazard has received a consensus analysts rating of 3.25. Therefore, it is recommended to hold LAZ.
- StrongBuy: 2
- Buy: 1
- Hold: 3
- Sell: 1
- StrongSell: 1
| Analysts Target Price | 52.4 | 9.9% |
P/E Forward = 15.6986
P/S = 1.4525
P/B = 5.071
P/EG = 1.0002
Revenue TTM = 3.27b USD
EBIT TTM = 451.9m USD
EBITDA TTM = 485.4m USD
Long Term Debt = 1.69b USD (from longTermDebt, last quarter)
Short Term Debt = 80.7m USD (from shortTermDebt, last fiscal year)
Debt = 2.63b USD (from shortLongTermDebtTotal, last quarter) + Leases 472.6m
Net Debt = 1.40b USD (calculated: Debt 2.63b - CCE 1.23b)
Enterprise Value = 5.87b USD (4.47b + Debt 2.63b - CCE 1.23b)
Interest Coverage Ratio = 5.06 (Ebit TTM 451.9m / Interest Expense TTM 89.3m)
EV/FCF = 11.09x (Enterprise Value 5.87b / FCF TTM 529.4m)
FCF Yield = 9.02% (FCF TTM 529.4m / Enterprise Value 5.87b)
FCF Margin = 16.18% (FCF TTM 529.4m / Revenue TTM 3.27b)
Net Margin = 8.48% (Net Income TTM 277.4m / Revenue TTM 3.27b)
Gross Margin = 31.69% ((Revenue TTM 3.27b - Cost of Revenue TTM 2.24b) / Revenue TTM)
Gross Margin QoQ = 36.25% (prev 21.91%)
Tobins Q-Ratio = 1.38 (Enterprise Value 5.87b / Total Assets 4.24b)
Interest Expense / Debt = 3.39% (Interest Expense 89.3m / Debt 2.63b)
Taxrate = 23.38% (76.6m / 327.6m)
NOPAT = 346.2m (EBIT 451.9m * (1 - 23.38%))
Current Ratio = 5.61 (Total Current Assets 2.01b / Total Current Liabilities 357.7m)
Debt / Equity = 2.99 (Debt 2.63b / totalStockholderEquity, last quarter 881.3m)
Debt / EBITDA = 2.88 (Net Debt 1.40b / EBITDA 485.4m)
Debt / FCF = 2.64 (Net Debt 1.40b / FCF TTM 529.4m)
Total Stockholder Equity = 834.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 6.55% (Net Income 277.4m / Total Assets 4.24b)
RoE = 33.24% (Net Income TTM 277.4m / Total Stockholder Equity 834.5m)
RoCE = 17.91% (EBIT 451.9m / Capital Employed (Equity 834.5m + L.T.Debt 1.69b))
RoIC = 8.93% (NOPAT 346.2m / Invested Capital 3.88b)
WACC = 8.74% (E(4.47b)/V(7.10b) * Re(12.36%) + D(2.63b)/V(7.10b) * Rd(3.39%) * (1-Tc(0.23)))
Discount Rate = 12.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.22 | Cagr: 5.34%
[DCF] Terminal Value 71.65% ; FCFF base≈590.9m ; Y1≈518.2m ; Y5≈418.7m
[DCF] Fair Price = 49.92 (EV 6.31b - Net Debt 1.40b = Equity 4.91b / Shares 98.4m; r=8.74% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 70.99 | EPS CAGR: 39.60% | SUE: -3.02 | # QB: -1
Revenue Correlation: 90.06 | Revenue CAGR: 9.56% | SUE: 0.65 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.51 | Chg30d=-20.53% | Revisions=-67% | Analysts=9
EPS next Quarter (2026-09-30): EPS=0.74 | Chg30d=-11.83% | Revisions=-67% | Analysts=7
EPS current Year (2026-12-31): EPS=2.85 | Chg30d=-13.09% | Revisions=-69% | GrowthEPS=+16.8% | GrowthRev=+11.6%
EPS next Year (2027-12-31): EPS=4.40 | Chg30d=-4.90% | Revisions=-71% | GrowthEPS=+54.3% | GrowthRev=+18.4%
[Analyst] Revisions Ratio: -71%