Lazard (LAZ) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Lazard

NYSE•Financial Services•Capital Markets

$36.61-2.02(-0.05%)Pre-market

Market Cap

$3.62B

P/E

16.0x

P/S

1.1x

P/B

4.0x

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. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services. This segment offers its services to corporate, partnership, institutional, government, sovereign, and individual clients to various industry areas, including consumers and retail; financial institutions; financial sponsors; healthcare and life sciences; industrials; media, entertainment, and sports; power, energy, and infrastructure; real estate; technology; and telecom and digital infrastructure. The Asset Management segment offers a range of investment solutions; 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. Lazard, Inc. was incorporated in 1848 and is headquartered in New York, New York.

How this company scores

AverageMetricSide Score: 59/100

Strongest: Cash & Earnings Quality (23/25); weakest: Growth (9/25).

Profitability12/25

Growth9/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality23/25

Strengths

Rising free cash flowHigh ROECash-backed earningsImproving leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 16.0x5y range 5.7x – 1415.8x

Currently near its 17-quarter median.

P/S · 1.1x5y range 0.9x – 1.7x

Currently near its 20-quarter median.

P/B · 4.0x5y range 4.0x – 9.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 28.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $3.62B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.31B
Q. Revenue: $830.20M
TTM EBITDA: $356.47M
TTM Op. Income: $307.06M
Q. Op. Income: $37.60M
TTM Net Income: $226.83M
Q. Net Income: $4.81M
EPS: $0.03
Shares Out.: $101.36M

$3.31B in TTM revenue grew 5.6% YoY, reaching $830.20M last quarter. TTM EBITDA of $356.47M and TTM operating income of $307.06M show growth is flowing through to the bottom line. TTM net income of $226.83M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 5.4%
Op. Margin: 4.5%
Net Margin: 0.6%

Op. margin of 4.5% is down 6.9% YoY — costs are rising relative to revenue. Net margin at 0.6% Over the past year, operating margin is down 60% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 16.0x
P/S Ratio: 1.1x
P/B Ratio: 4.0x

At 16.0x P/E, the stock trades within typical market levels. P/S of 1.1x and P/B of 4.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 6% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $4.36B
Cash: $1.10B
Long-Term Debt: $1.69B
Book Value: $914.30M
D/E Ratio: 1.8
Debt/EBITDA: 37.6

With $4.36B in assets and $1.69B in long-term debt, D/E is 1.8and book value is $914.30M — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $203.40M
TTM Free Cash Flow: $658.76M
FCF Margin: 19.9%
FCF / Net Income: 2.9

TTM FCF of $658.76M on $203.40M in operating cash flow. The FCF / Net Income ratio of 2.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.