Lazard LAZ Ratios & Valuation
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 11.3%— | 10.6%— | 11.6%— | —— | —— | |
| Net margin | 8.6%— | 7.6%— | 9.1%— | —— | —— | |
| EBITDA margin | 12.3%— | 11.7%— | 12.8%— | —— | —— | |
| Free cash flow margin | 15.5%— | 15.7%— | 14.6%— | 14.1%— | —— | |
| Returns | ||||||
| Return on equity | 37.4%— | 31.5%— | 37.3%— | —— | —— | |
| Return on assets | 6.5%— | 4.9%— | 5.8%— | —— | —— | |
| Return on invested capital | 18.6%— | 21.2%— | 18.9%— | —— | —— | |
| Efficiency | ||||||
| Asset turnover | 0.8×+0.1× | 0.6×0.0× | 0.6×0.0× | 0.7×+0.1× | 0.7×+0.1× | |
| Leverage | ||||||
| Debt-to-equity | 2.5×-1.2× | 2.5×-0.9× | 2.6×-1.2× | 3×-2.2× | 3.6×-2.3× | |
| Debt-to-assets | 0.5×0.0× | 0.4×0.0× | 0.5×0.0× | 0.5×0.0× | 0.5×0.0× | |
| Net debt / EBITDA | 2.9×— | 1.9×— | 2.7×— | —— | —— | |
| Interest coverage | 4.1×— | 3.7×— | 4×— | —— | —— | |
| Per Share | ||||||
| Book value per share | $8.25+43.5% | $8.17+31.5% | $7.79+29.1% | $7.07+55.1% | $5.75+45.5% | |
| Valuation | ||||||
| Market capitalization | $3.99B+2.5% | $4.61B-1.1% | $4.98B+6.4% | $4.4B+26.2% | $3.89B+1.9% | |
| Enterprise value | $5.13B-0.9% | $5.31B-4.2% | $6.01B+2.0% | $5.62B+12.2% | $5.18B-0.8% | |
| Price / earnings | 14.4×— | 19.5×— | 18.2×— | —— | —— | |
| Price / sales | 1.2×-0.1× | 1.5×0.0× | 1.7×+0.1× | 1.4×+0.2× | 1.3×-0.1× | |
| Price / book | 4.5×-1.9× | 5.3×-2.0× | 5.9×-1.6× | 5.9×-1.7× | 6.5×-3.3× | |
| EV / EBITDA | 13×— | 14.7×— | 15.6×— | —— | —— | |
| EV / sales | 1.6×-0.2× | 1.7×-0.1× | 2×+0.1× | 1.8×0.0× | 1.8×-0.1× | |
| Free cash flow yield | 12.5%— | 10.6%— | 8.8%— | 9.8%— | —— | |
| Earnings yield | 7%— | 5.1%— | 5.5%— | —— | —— | |
| Dividend yield | 4.7%+0.1pp | 4%+0.2pp | 3.7%-0.1pp | 4.1%-0.9pp | 4.6%+0.1pp |
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.