Lazard LAZ Ratios & Valuation
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Profitability | |||||
| Operating margin | 10.6%-2.1pp | 12.7%— | —— | 18.6%-4.0pp | |
| Net margin | 7.6%-1.5pp | 9.2%— | —— | 12.9%-3.6pp | |
| EBITDA margin | 11.7%-2.2pp | 13.9%— | —— | 20.2%-3.7pp | |
| Free cash flow margin | 15.7%-7.1pp | 22.8%— | —— | 28.3%+2.4pp | |
| Returns | |||||
| Return on equity | 31.5%-21.4pp | 52.8%— | —— | 46.7%-9.3pp | |
| Return on assets | 4.9%-1.1pp | 5.9%— | —— | 5.5%-2.5pp | |
| Return on invested capital | 21.2%-3.4pp | 24.6%— | —— | 31.6%-9.1pp | |
| Efficiency | |||||
| Asset turnover | 0.6×0.0× | 0.6×+0.2× | 0.5×+0.1× | 0.4×-0.1× | |
| Leverage | |||||
| Debt-to-equity | 2.5×-0.9× | 3.4×-1.7× | 5.1×+1.2× | 4×+1.7× | |
| Debt-to-assets | 0.4×0.0× | 0.5×0.0× | 0.5×+0.1× | 0.4×+0.1× | |
| Net debt / EBITDA | 1.9×-0.1× | 2.1×— | —— | 1.7×+0.7× | |
| Interest coverage | 3.7×-0.6× | 4.4×— | —— | 6.3×-2.6× | |
| Per Share | |||||
| Book value per share | $8.17+31.5% | $6.21+30.5% | $4.76-13.6% | $5.51-35.8% | |
| Valuation | |||||
| Market capitalization | $4.61B-1.1% | $4.66B+48.3% | $3.14B+5.4% | $2.98B-33.6% | |
| Enterprise value | $5.31B-4.2% | $5.54B+27.6% | $4.34B+10.1% | $3.95B-25.0% | |
| Price / earnings | 19.5×+2.8× | 16.6×— | —— | 8.3×-0.2× | |
| Price / sales | 1.5×0.0× | 1.5×+0.3× | 1.2×+0.2× | 1.1×-0.3× | |
| Price / book | 5.3×-2.0× | 7.3×-0.1× | 7.4×+2.1× | 5.4×+0.8× | |
| EV / EBITDA | 14.7×+1.6× | 13.1×— | —— | 7.1×+0.2× | |
| EV / sales | 1.7×-0.1× | 1.8×+0.1× | 1.7×+0.3× | 1.4×-0.2× | |
| Free cash flow yield | 10.6%-4.4pp | 15%— | —— | 26.3%+7.9pp | |
| Earnings yield | 5.1%-0.9pp | 6%— | —— | 12%+0.2pp | |
| Dividend yield | 4%+0.2pp | 3.8%-1.7pp | 5.5%-0.6pp | 6.1%+1.7pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- Where do Lazard's ratios come from?
- Every ratio is computed from Lazard's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.