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Lazard LAZ Management Fees — Revenue

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Incentive Fees
$5.26M

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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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Net Revenue:
Financial Advisory (a)$448,923$497,306$807,092$864,665
Asset Management:
Management fees (b)$329,633$270,327$645,108$525,027
Incentive fees (c)5,2645,28117,08815,189
Other (d)7,28616,87018,25940,362
Total Asset Management$342,183$292,478$680,455$580,578

Item 1. Financial Statements (Unaudited)

FAQ

What is Lazard's management fees — revenue?
Lazard (LAZ) reported management fees — revenue of $329.63M in Q2 2026.
What does management fees — revenue mean?
This metric represents the recurring revenue generated from investment management services provided to institutional and individual clients based on a percentage of assets under management. It serves as a primary indicator of the stability and scale of the firm's asset management business, reflecting the ability to retain capital and maintain fee structures over time. As a core component of the firm's top-line, it provides insight into the long-term health of the investment platform independent of performance-based incentive fees.

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