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Earnings transcript
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LAZ
Lazard Inc
$43.11
0.32
(0.74%)
| Exchange: | NYSE |
| Market Cap: | 4.201B |
| Shares Outstanding: | 37.5M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Financial – Capital Markets | |||||
| CEO: | Peter R. Orszag | |||||
| Full Time Employees: | 3279 | |||||
| Address: |
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| Website: | https://www.lazard.com |
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.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2,551,140 | 3,086,300 | 3,186,466 |
| Gross Profit | 605,130 | 1,083,088 | 1,012,997 |
| EBITDA | 40,903 | 511,274 | 449,406 |
| Operating Income | -79,957 | 386,472 | 415,322 |
| Net Income | -75,479 | 279,912 | 236,831 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 4,635,781 | 4,793,993 | 4,940,734 |
| Total Liabilities | 4,065,919 | 4,029,210 | 3,951,604 |
| Total Stockholders Equity | 423,759 | 636,240 | 873,655 |
| Total Debt | 2,175,391 | 2,192,535 | 2,658,384 |
| Cash and Cash Equivalents | 971,316 | 1,308,218 | 1,503,437 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 164,662 | 742,828 | 0 |
| Capital Expenditure | -28,297 | -45,498 | 0 |
| Free Cash Flow | 136,365 | 697,330 | 0 |
| Net Income | -75,479 | 273,026 | 236,831 |
| Net Change in Cash | -1,414,417 | 384,385 | -1,609,368 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 4,231,160.246 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 4,454,518.323 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 4,356,114.900 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 683,272.579 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 719,341.751 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 703,450.989 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 483,168.334 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 516,622.294 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 501,883.836 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 504,699.502 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 531,342.008 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 519,604.291 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 4.720 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 4.860 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 4.540 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 1 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Revenue Performance: LAZ has demonstrated consistent revenue growth as per recent income statements, supported by robust operating income and net income figures. This indicates effective business operations and profitability within the financial advisory and asset management sectors.
- Healthy Cash Flow Metrics: The cash flow statements highlight positive net cash provided by operating activities and a solid free cash flow yield (as per key metrics TTM). This reflects LAZ's ability to generate cash efficiently, providing financial flexibility for dividends and investments.
- Market Position and Sector Stability: As part of the financial services sector and investment banking industry, LAZ benefits from a strong market position, evidenced by a competitive market cap and a stable beta, indicating lower volatility compared to the broader market.
- Dividend Yield: LAZ offers a consistent dividend yield (as per key metrics TTM), appealing to income-focused investors and signaling confidence in sustained earnings.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates LAZ intrinsic value between $60.57 – $100.21 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about LAZ valuation
Is Lazard Inc (LAZ) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Lazard Inc (LAZ) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is LAZ a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether LAZ trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is LAZ’s P/E ratio?
You can see LAZ’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for LAZ?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is LAZ a good long-term investment?
Whether LAZ fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
LAZ
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Daily snapshot
0.74
Trading Metrics:
| Open: | 42.89 | Previous Close: | 42.79 | |
| Day Low: | 42.51 | Day High: | 43.65 | |
| Year Low: | 38.67 | Year High: | 58.75 | |
| Price Avg 50: | 42.92 | Price Avg 200: | 47.01 | |
| Volume: | 237915 | Average Volume: | 1.903M |
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Login — it's freeLAZ full analysis
Welcome to MARKETSNAP’s SWOT analysis for Lazard, a name that might not be as flashy as some tech giants but certainly holds weight in the financial world. If you’re a long-term investor looking to diversify or dig into the financial services space, you’ve come to the right place. Today, we’re breaking down Lazard’s strengths, weaknesses, opportunities, and threats to help you gauge whether this stock fits into your wealth-building strategy. Let’s dive in with a quick overview of who they…
