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.

Lazard LAZ Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	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
Returns
Return on equity	31.5%-21.4pp	52.8%—	——	46.7%-9.3pp
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×
Net debt / EBITDA	1.9×-0.1×	2.1×—	——	1.7×+0.7×
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%
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×
Dividend yield	4%+0.2pp	3.8%-1.7pp	5.5%-0.6pp	6.1%+1.7pp

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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.