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Lazard LAZ Q4 2025 Annual earnings

Reported January 29, 2026 · Before market open

Revenue$906.7MBeat by $85.0MDiluted EPS$0.80Beat by $0.12
Revenue estimate$821.7M
EPS estimate$0.68

Next report

Jul 23, 2026 (In 1 week)
Revenue estimate$735.6M
EPS estimate$0.35

Financials

Q4 2025

Income statement

See full
Revenue$906.7M+11.0%
Operating income$85.0M-20.7%
Net income$49.9M-42.2%
EPS (diluted)$0.45-43.8%

Balance sheet

See full
Cash & equivalents$1.5B+12.3%
Total debt$2.2B-0.9%
Total equity$869.2M+36.6%
Total assets$4.9B+3.0%

Cash flow

See full
Operating cash flow$399.7M+10.2%
CapEx$3.6M-75.9%
Free cash flow$396.1M+13.8%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$4.61B-1.1%
Enterprise value$5.31B-4.2%
P/E19.5×+2.8×
P/S1.5×0.0×

Profitability

See full
Operating margin10.6%-2.1pp
Net margin7.6%-1.5pp
FCF margin15.7%-7.1pp

Returns & leverage

See full
Return on equity31.5%-21.4pp
Debt / equity2.5×-0.9×

Segments

By segment

See full
Financial Advisory$542.3M+4.2%
Asset Management$367.1M+17.6%
Corporate-$2.7M—

By geography

See full
Americas$405.6M+5.6%
EMEA$323.9M-4.8%
Asia Pacific$45.2M+16.8%

Versus estimates

Revenue

Q1 2026$673.0MMiss by $34.4M
Q4 2025$906.7MBeat by $85.0M
Q3 2025$782.4MBeat by $56.2MQ2 2025$808.0MBeat by $68.0MQ1 2025$657.5MMiss by $35.9MQ4 2024$824.7MBeat by $102.1M

Diluted EPS

Q1 2026$0.42Miss by $0.10
Q4 2025$0.80Beat by $0.12
Q3 2025$0.56Beat by $0.12Q2 2025$0.52Beat by $0.14Q1 2025$0.56Beat by $0.27Q4 2024$0.78Beat by $0.09

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Questions, answered.

When did Lazard report Q4 2025 earnings?
Lazard (LAZ) reported Q4 2025 earnings on January 29, 2026 before market open.
What were Lazard's Q4 2025 revenue and EPS?
Lazard reported revenue of $906.7M and diluted EPS of $0.80 for Q4 2025.
Did Lazard beat estimates in Q4 2025?
Revenue beat the consensus estimate of $821.7M by $85.0M. EPS beat the consensus estimate of $0.68 by $0.12.
How did Lazard's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.9% from $824.7M a year earlier and diluted EPS grew 2.6% from $0.78.
Where can I find Lazard's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001628280-26-003958) and the 10-K periodic report (0001311370-26-000008) directly on SEC EDGAR. The filing index links above go to sec.gov.