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Lazard LAZ EMEA — Net Revenue (Loss)

Other geography segments

Americas
$1.62B+5.6%
Asia Pacific
$180.68M+16.8%

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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-K, filed February 23, 2026.

Filed
Feb 23, 2026, 4:33 PM EST
Fiscal year
FY2025
Accession
0001311370-26-000008
Line itemYear Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Net Revenue - U.S. GAAP basis:
Americas$1,622,574$1,536,298$1,193,056
EMEA1,295,5931,360,7841,162,052
Asia Pacific180,680154,755160,381
Total$3,098,847$3,051,837$2,515,489

Item 8. Financial Statements and Supplementary Data

FAQ

What is Lazard's EMEA — net revenue (loss)?
Lazard (LAZ) reported EMEA — net revenue (loss) of $323.9M in Q4 2025.
How has Lazard's EMEA — net revenue (loss) changed year-over-year?
Lazard's EMEA — net revenue (loss) decreased by 4.8% year-over-year, from $340.2M to $323.9M.
What is the long-term trend for Lazard's EMEA — net revenue (loss)?
Over 4 years (2021 to 2025), Lazard's EMEA — net revenue (loss) has grown at a 0.9% compound annual growth rate (CAGR), from $1.25B to $1.3B.
What does EMEA — net revenue (loss) mean?
This metric represents the total net revenue generated by the company's business operations within the Europe, Middle East, and Africa (EMEA) geographic region. It reflects the top-line performance of the segment after accounting for direct costs and serves as a key indicator of regional market penetration and client demand. Tracking this figure helps investors assess the company's geographic diversification and the relative contribution of international markets to overall firm performance.

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