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Lazard LAZ Asset Management — Adjusted Non-compensation Expense

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Other financials

Income statement

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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

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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

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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$4.16B+2.5%

Profitability

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Operating margin11.3%-1.9pp
Net margin8.6%-1.7pp
FCF margin15.5%-3.7pp

Returns & leverage

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Return on equity37.4%-23.8pp
Debt / equity2.5×-1.2×

Where this comes from

Reported directly by Lazard in its filing.

Tagged under the XBRL concept laz:AdjustedNonCompensationExpense.

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 asset management — adjusted non-compensation expense?
Lazard (LAZ) reported asset management — adjusted non-compensation expense of $63.8M in Q1 2026.
How has Lazard's asset management — adjusted non-compensation expense changed year-over-year?
Lazard's asset management — adjusted non-compensation expense increased by 7.8% year-over-year, from $59.21M to $63.8M.
What is the long-term trend for Lazard's asset management — adjusted non-compensation expense?
Over 3 years (2022 to 2025), Lazard's asset management — adjusted non-compensation expense has grown at a 7.6% compound annual growth rate (CAGR), from $205.06M to $255.67M.
What does asset management — adjusted non-compensation expense mean?
Operating expenses for the asset management segment excluding compensation, such as technology, occupancy, and administrative costs. Monitoring this helps evaluate the operational leverage and cost discipline of the segment.