What is Lazard's invested capital?

Lazard (LAZ) reported invested capital of $2.02B in Q1 2026.

How has Lazard's invested capital changed year-over-year?

Lazard's invested capital increased by 7.2% year-over-year, from $1.89B to $2.02B.

What is the long-term trend for Lazard's invested capital?

Over 5 years (2020 to 2025), Lazard's invested capital has grown at a -2.8% compound annual growth rate (CAGR), from $1.81B to $1.57B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Lazard LAZ Invested capital

Discontinued — last reported Q1 '26

Invested capital at other companies

GriffonGFF

5.9%-9.9pp

Benchmark ElectronicsBHE

3.8%-1.7pp

Power IntegrationsPOWI

1.5%-1.0pp

Hayward HoldingsHAYW

8.3%+0.8pp

ChemoursCC

-0.6%-4.1pp

United States Lime & Minerals, Inc.USLM

46.5%-2.9pp

Other financials

Income statement

See full

Revenue$756.6M+16.7%

Operating income$89.6M+63.9%

Net income$100.9M+67.1%

EPS (diluted)$0.91+62.5%

Balance sheet

See full

Cash & equivalents$1.0B+12.3%

Total debt$2.2B-1.4%

Total equity$881.3M+46.1%

Total assets$4.2B+0.2%

Cash flow

See full

Operating cash flow-$219.3M-0.8%

CapEx$2.2M-84.2%

Free cash flow-$221.5M+4.3%

Valuation

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Market cap$4.36B+2.5%

Enterprise value$5.5B-0.9%

P/E15.7×+1.7×

P/S1.4×-0.1×

Profitability

See full

Operating margin11.3%-1.9pp

Net margin8.6%-1.7pp

FCF margin15.5%-3.7pp

Returns & leverage

See full

Return on equity37.4%-23.8pp

Debt / equity2.5×-1.2×

Where this comes from

Calculated from Lazard’s reported figures.

$2.2Btotal debt+$881.3Mtotal stockholders equity−$1.0Bcash and equivalents=$2.02B

The official record: Lazard’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lazard's invested capital?: Lazard (LAZ) reported invested capital of $2.02B in Q1 2026.
How has Lazard's invested capital changed year-over-year?: Lazard's invested capital increased by 7.2% year-over-year, from $1.89B to $2.02B.
What is the long-term trend for Lazard's invested capital?: Over 5 years (2020 to 2025), Lazard's invested capital has grown at a -2.8% compound annual growth rate (CAGR), from $1.81B to $1.57B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).