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Lazard LAZ Compensation and benefits

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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 laz:DeferredTaxLiabilitiesPertainingToCompensationAndBenefits.

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 compensation and benefits?
Lazard (LAZ) reported compensation and benefits of $31.13M in Q4 2025.
How has Lazard's compensation and benefits changed year-over-year?
Lazard's compensation and benefits decreased by 1.1% year-over-year, from $31.46M to $31.13M.
What is the long-term trend for Lazard's compensation and benefits?
Over 5 years (2020 to 2025), Lazard's compensation and benefits has grown at a 12.1% compound annual growth rate (CAGR), from $17.56M to $31.13M.
What does compensation and benefits mean?
Represents the tax liability arising from timing differences between the recognition of compensation expenses for financial reporting and tax purposes. This liability reflects future tax payments that will be due as compensation-related tax deductions are realized. It is an essential metric for understanding the firm's deferred tax profile and cash flow timing.