Lazard, Inc. (LAZ)
Lazard, Inc. brought in $3.4B of revenue over the twelve months to September 30, 2026, up 9.0% from a year earlier. Net income was $184.7M, a net margin of 5.5%. Operating cash flow minus capital spending left $487.4M of free cash flow in fiscal 2025. At September 30, 2026 it held $1.3B in cash against $1.7B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 26, 2026.
Key facts about Lazard, Inc.
- Net worth
- Lazard, Inc. has a market value (market cap) of $3.9B at the latest share price, and shareholders' equity of $948.8M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $3.2B (+1.5% year on year), with net income of $236.8M. Over the 12 months to September 30, 2026: revenue $3.4B, net income $184.7M.
- Cash flow
- In fiscal 2025 operations brought in $519.3M of cash; after $31.9M of capital spending, free cash flow was $487.4M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 26, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Lazard, Inc.'s next report is expected around January 28, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Lazard, Inc. declared dividends of $2.00 per share in fiscal 2025, a yield of 5.06% at the current price.
What Lazard, Inc. does
Lazard, Inc. is registered with the SEC under industry code SIC 6282 (Investment Advice). Its shares trade on NYSE under the ticker LAZ.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $3.2B | $236.8M | $2.17 | $487.4M |
| 2024 | $3.1B | $279.9M | $2.68 | $697.3M |
| 2023 | $2.6B | -$75.5M | -$0.90 | $136.4M |
| 2022 | $2.9B | $357.5M | $3.51 | $784.5M |
| 2021 | $3.3B | $528.1M | $4.63 | $826.4M |
| 2020 | $2.6B | $402.5M | $3.54 | $511.6M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where LAZ ranks in Finance
Dividends
Lazard, Inc. declared $2.00 per share in fiscal 2025. At the current price that is a yield of 5.06%. It paid out $186.6M in cash dividends, 79% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $2.00 | $186.6M | 79% |
| 2024 | $2.00 | $179M | 64% |
| 2023 | $2.00 | $173.1M | n/a |
| 2022 | $1.94 | $181.9M | 51% |
| 2021 | $1.88 | $195.9M | 37% |
| 2020 | $1.88 | $196.6M | 49% |
Latest SEC filings
What Lazard, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 6, 2026Other event 8-K
- November 2, 2026
- October 26, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 8.5% to $836.4M versus the same quarter last year; diluted EPS $0.26 versus $0.65.
- October 22, 2026
- October 13, 2026
- September 4, 2026Passive stake changed SCHEDULE 13G/A
- July 28, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 1.6% to $830.2M versus the same quarter last year; diluted EPS $0.03 versus $0.52.
- July 23, 2026
- July 7, 2026
- June 17, 2026
What is LAZ worth? A DCF from its reported cash flow
Insider trades
What the people running Lazard, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $5.4M worth of shares in the last 90 days and bought none on the open market. All of the selling was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| August 25, 2026 | Orszag Peter RichardCEO & Chairman, Director | Soldpre-planned (10b5-1) | 125,000 | $5.4M |
| August 24, 2026 | Orszag Peter RichardCEO & Chairman, Director | Exercised options | 250,000 | - |
| August 24, 2026 | Orszag Peter RichardCEO & Chairman, Director | Other change | 75,000 | - |
| March 19, 2026 | Hogbin ChristopherCEO Asset Management | Soldpre-planned (10b5-1) | 3,944 | $155.3K |
| March 18, 2026 | Hogbin ChristopherCEO Asset Management | Soldpre-planned (10b5-1) | 7,885 | $318.3K |
| March 17, 2026 | Hogbin ChristopherCEO Asset Management | Exercised options | 48,332 | - |
| March 17, 2026 | Hogbin ChristopherCEO Asset Management | Shares withheld for tax | 24,674 | $988.4K |
| March 17, 2026 | Orszag Peter RichardCEO & Chairman, Director | Soldpre-planned (10b5-1) | 67,170 | $2.7M |
Who owns LAZ
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Fmr LLC13G, passive with 1 related filers | 10.1% | March 6, 2026 |
| T. Rowe Price Associates, Inc.13G, passive | 8.6% | May 15, 2026 |
| Vanguard Capital Management13G, passive | 6.18% | May 1, 2026 |
| Vanguard Portfolio Management13G, passive | 5.28% | May 1, 2026 |
| Ariel Investments, LLC13G, passive | 5.2% | May 14, 2026 |
Largest institutional holders
Insiders
5 insiders reported holding 425,283 shares in total, about $16.8M at the last price.
| Holder | Shares |
|---|---|
| Orszag Peter RichardCEO & Chairman, Director | 260,942 |
| Soto AlexandraChief Operating Officer | 148,185 |
| Hogbin ChristopherCEO Asset Management | 11,829 |
| Farr TracyChief Financial Officer | 2,889 |
| Gathy MichaelChief Accounting Officer | 1,438 |
Questions about LAZ
What does Lazard, Inc. do?
Lazard, Inc. is a company in the Finance sector, listed on NYSE as LAZ. Its shares trade on NYSE under the ticker LAZ.
What is Lazard, Inc.'s net worth?
Lazard, Inc. has a market value (market cap) of $3.9B at the latest share price, and shareholders' equity of $948.8M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Lazard, Inc. profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $184.7M on revenue of $3.4B, a net margin of 5.5%.
How much revenue does Lazard, Inc. make?
Over the twelve months to September 30, 2026 Lazard, Inc. reported revenue of $3.4B. That is 9.0% more than a year earlier.
When did Lazard, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 26, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the other event from November 6, 2026.
When is Lazard, Inc.'s next earnings report?
Lazard, Inc.'s next report is expected around January 28, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does Lazard, Inc. pay a dividend?
Yes. Lazard, Inc. declared dividends of $2.00 per share in fiscal 2025, a yield of 5.06% at the current price.
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Where the numbers come from
Financial figures are the values Lazard, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.