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Lazard LAZ Asset Management — Adjusted Operating Income

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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:OperatingIncomeLossAdjusted.

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 operating income?
Lazard (LAZ) reported asset management — adjusted operating income of $84.64M in Q1 2026.
How has Lazard's asset management — adjusted operating income changed year-over-year?
Lazard's asset management — adjusted operating income increased by 35.5% year-over-year, from $62.46M to $84.64M.
What is the long-term trend for Lazard's asset management — adjusted operating income?
Over 3 years (2022 to 2025), Lazard's asset management — adjusted operating income has grown at a -7.1% compound annual growth rate (CAGR), from $335.72M to $269.29M.
What does asset management — adjusted operating income mean?
The profitability of the asset management segment after adjusting for non-core or non-recurring items. It is the primary measure of the segment's ability to generate sustainable earnings from its investment management activities.