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Lazard LAZ Asset Management — Net Revenue (Loss)

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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:RevenuesNetOfInterestExpense.

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 itemFinancial AdvisoryAsset ManagementCorporateTotal
Net Revenue - U.S. GAAP Basis$450,167$351,031$6,471$807,669
Adjusted Compensation and Benefits Expense312,735185,28751,549549,571
Adjusted Non-compensation Expense59,14171,59640,983171,720
Other Segment Items(4,848)(19,723)3,368(21,203)
Adjusted Operating Income (Loss)$73,443$74,425$(82,693)$65,175
Other Segment Disclosures:
Interest income (included in net revenue)$1,243$2,486$3,522$7,251
Depreciation and amortization of property (included in adjusted non-compensation expense)$1,796$1,376$4,194$7,366

Item 1. Financial Statements (Unaudited)

FAQ

What is Lazard's asset management — net revenue (loss)?
Lazard (LAZ) reported asset management — net revenue (loss) of $351.03M in Q2 2026.
How has Lazard's asset management — net revenue (loss) changed year-over-year?
Lazard's asset management — net revenue (loss) increased by 20.0% year-over-year, from $292.48M to $351.03M.
What is the long-term trend for Lazard's asset management — net revenue (loss)?
Over 4 years (2021 to 2025), Lazard's asset management — net revenue (loss) has grown at a -2.7% compound annual growth rate (CAGR), from $1.42B to $1.27B.
What does asset management — net revenue (loss) mean?
The net revenue generated by the asset management segment after accounting for specific segment-level adjustments. It serves as the primary top-line figure for evaluating the segment's core business performance.

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