What is the long-term trend for Lazard's disallowed business interest expense carryforward?

Over 3 years (2022 to 2025), Lazard's disallowed business interest expense carryforward has grown at a 39.2% compound annual growth rate (CAGR), from $21.15M to $57.03M.

Lazard LAZ Disallowed business interest expense carryforward

Disallowed business interest expense carryforward at other companies

Williams CompaniesWMB

$247M+269%

APA CorporationAPA

$607M-53.3%

Keysight TechnologiesKEYS

$130M+106%

KadantKAI

$4.26M—

BGC Group, Inc.BGC

$116.66M+29.0%

APA CorporationAPA

$130M-54.7%

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

Reported directly by Lazard in its filing.

Tagged under the XBRL concept us-gaap:DeferredTaxAssetInterestCarryforward.

The official record: Lazard’s 10-K, filed February 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lazard's disallowed business interest expense carryforward?: Lazard (LAZ) reported disallowed business interest expense carryforward of $57.03M in Q4 2025.
What is the long-term trend for Lazard's disallowed business interest expense carryforward?: Over 3 years (2022 to 2025), Lazard's disallowed business interest expense carryforward has grown at a 39.2% compound annual growth rate (CAGR), from $21.15M to $57.03M.