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Lazard LAZ Fund administration and outsourced services

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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$4.31B-11.4%
Enterprise value$5.36B-12.0%
P/E19×+3.3×
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 laz:FundAdministrationAndOutsourcedServicesExpense.

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
Marketing and business development34,40829,59363,07057,324
Technology and information services52,63349,272100,90895,488
Professional services32,87924,58953,55743,426
Fund administration and outsourced services38,05430,05471,57056,599
Other15,87616,49728,43924,901
Total operating expenses770,066702,9161,437,0741,296,332
OPERATING INCOME37,60393,081127,177147,716
Provision for income taxes23,87131,76412,88224,410

Item 1. Financial Statements (Unaudited)

FAQ

What is Lazard's fund administration and outsourced services?
Lazard (LAZ) reported fund administration and outsourced services of $38.05M in Q2 2026.
How has Lazard's fund administration and outsourced services changed year-over-year?
Lazard's fund administration and outsourced services increased by 26.6% year-over-year, from $30.05M to $38.05M.
What is the long-term trend for Lazard's fund administration and outsourced services?
Over 4 years (2021 to 2025), Lazard's fund administration and outsourced services has grown at a -1.7% compound annual growth rate (CAGR), from $130.5M to $122.07M.
What does fund administration and outsourced services mean?
This metric captures the costs associated with third-party services utilized to manage fund accounting, regulatory reporting, and back-office operational tasks. It represents the firm's reliance on external partners to maintain fund compliance and administrative accuracy for its asset management clients. Tracking these costs provides insight into the scalability of the asset management platform and the cost-benefit of outsourcing versus internalizing administrative functions.

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