What is Lazard's net margin?

Lazard (LAZ) reported net margin of 8.6% in Q1 2026.

How has Lazard's net margin changed year-over-year?

Lazard's net margin decreased by 16.6% year-over-year, from 10.4% to 8.6%.

What is the long-term trend for Lazard's net margin?

Over 4 years (2020 to 2025), Lazard's net margin has grown at a -16.4% compound annual growth rate (CAGR), from 15.7% to 7.6%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Lazard LAZ Net margin

Net margin at other companies

Jefferies Financial GroupJEF

9.1%-1.0pp

Goldman Sachs GroupGS

29.9%+2.5pp

Morgan StanleyMS

24.6%+2.4pp

Houlihan LokeyHLI

16.3%-0.5pp

EvercoreEVR

16.4%+2.2pp

PJT PartnersPJT

10.3%-0.1pp

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

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 income/total revenue=8.6%

Based on trailing twelve months.

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 margin?: Lazard (LAZ) reported net margin of 8.6% in Q1 2026.
How has Lazard's net margin changed year-over-year?: Lazard's net margin decreased by 16.6% year-over-year, from 10.4% to 8.6%.
What is the long-term trend for Lazard's net margin?: Over 4 years (2020 to 2025), Lazard's net margin has grown at a -16.4% compound annual growth rate (CAGR), from 15.7% to 7.6%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.