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Lazard LAZ Net debt / EBITDA

Net debt / EBITDA at other companies

Goldman Sachs Group logo
Goldman Sachs GroupGS
-1.9×-3.7×
Morgan Stanley logo
Morgan StanleyMS
3×-0.2×
Houlihan Lokey logo
Houlihan LokeyHLI
-1.2×+0.4×
Evercore logo
EvercoreEVR
0.1×-0.4×
Moelis & Company logo
Moelis & CompanyMC
0.7×-0.1×
PJT Partners logo
PJT PartnersPJT
0.3×-0.5×

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$4.36B+2.5%
Enterprise value$5.5B-0.9%
P/E15.7×+1.7×
P/S1.4×-0.1×

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

Calculated from Lazard’s reported figures.

net debt/ebitda=2.9×

Based on the most recent quarter.

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 net debt / EBITDA?
Lazard (LAZ) reported net debt / EBITDA of 2.9× in Q1 2026.
How has Lazard's net debt / EBITDA changed year-over-year?
Lazard's net debt / EBITDA decreased by 5.3% year-over-year, from 3× to 2.9×.
What is the long-term trend for Lazard's net debt / EBITDA?
Over 4 years (2020 to 2025), Lazard's net debt / EBITDA has grown at a 3.8% compound annual growth rate (CAGR), from 1.7× to 1.9×.
What does net debt / EBITDA mean?
Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.