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Lazard LAZ Asset Management — Goodwill

Other segment segments

Financial Advisory
$313.55M-0.1%

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Other financials

Income statement

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Revenue$807.7M+1.5%
Operating income$37.6M-59.6%
Net income$4.8M-91.3%
EPS (diluted)$0.03-94.2%

Balance sheet

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Cash & equivalents$1.1B+12.4%
Total debt$2.2B-2.4%
Total equity$914.3M+23.3%
Total assets$4.4B-2.9%

Cash flow

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Operating cash flow-$219.3M-0.8%
CapEx$3.9M-66.4%
Free cash flow-$221.5M+4.3%

Valuation

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Market cap$4.22B-13.4%
Enterprise value$5.27B-13.6%
P/E18.6×+2.9×
P/S1.3×-0.3×

Profitability

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Operating margin9.5%-4.1pp
Net margin7%-3.1pp
FCF margin15.5%-3.7pp

Returns & leverage

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Return on equity27.4%-24.3pp
Debt / equity2.4×-0.6×

Where this comes from

Reported directly by Lazard in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: Lazard’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 4:33 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001311370-26-000022
Line itemSix Months Ended June 30, 2026 / Financial AdvisorySix Months Ended June 30, 2026 / Asset ManagementSix Months Ended June 30, 2026 / TotalSix Months Ended June 30, / Financial AdvisorySix Months Ended June 30, 2025 / Asset ManagementSix Months Ended June 30, / Total
Balance, January 1$313,992$81,270$395,262$312,305$81,270$393,575
Purchase and consolidation of business (a)40,47040,470
Sale and deconsolidation of business (b)(359)(359)
Foreign currency translation adjustments(441)(441)1,6501,650
Balance, June 30$313,551$121,381$434,932$313,955$81,270$395,225

Item 1. Financial Statements (Unaudited)

FAQ

What is Lazard's asset management — goodwill?
Lazard (LAZ) reported asset management — goodwill of $121.38M in Q2 2026.
How has Lazard's asset management — goodwill changed year-over-year?
Lazard's asset management — goodwill increased by 49.4% year-over-year, from $81.27M to $121.38M.
What is the long-term trend for Lazard's asset management — goodwill?
Over 4 years (2021 to 2025), Lazard's asset management — goodwill has grown at a 5.9% compound annual growth rate (CAGR), from $258.16M to $325.08M.
What does asset management — goodwill mean?
The carrying value of goodwill specifically allocated to the asset management reporting unit. It represents the premium paid over the fair value of net identifiable assets during past acquisitions within this segment.

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