What is Lazard's unrecognized tax benefits?

Lazard (LAZ) reported unrecognized tax benefits of $64.69M in Q4 2025.

How has Lazard's unrecognized tax benefits changed year-over-year?

Lazard's unrecognized tax benefits decreased by 5.7% year-over-year, from $68.63M to $64.69M.

What is the long-term trend for Lazard's unrecognized tax benefits?

Over 5 years (2020 to 2025), Lazard's unrecognized tax benefits has grown at a -4.4% compound annual growth rate (CAGR), from $80.95M to $64.69M.

Lazard LAZ Unrecognized tax benefits

Unrecognized tax benefits at other companies

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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 us-gaap:UnrecognizedTaxBenefits.

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 unrecognized tax benefits?: Lazard (LAZ) reported unrecognized tax benefits of $64.69M in Q4 2025.
How has Lazard's unrecognized tax benefits changed year-over-year?: Lazard's unrecognized tax benefits decreased by 5.7% year-over-year, from $68.63M to $64.69M.
What is the long-term trend for Lazard's unrecognized tax benefits?: Over 5 years (2020 to 2025), Lazard's unrecognized tax benefits has grown at a -4.4% compound annual growth rate (CAGR), from $80.95M to $64.69M.