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Lazard LAZ Return on invested capital

Return on invested capital at other companies

Goldman Sachs Group logo
Goldman Sachs GroupGS
24.3%-7.3pp
Morgan Stanley logo
Morgan StanleyMS
16.9%+0.4pp
Evercore logo
EvercoreEVR
47%+18.1pp
Moelis & Company logo
Moelis & CompanyMC
31.7%+3.3pp
PJT Partners logo
PJT PartnersPJT
86.6%+7.0pp
Perella Weinberg Partners logo
Perella Weinberg PartnersPWP
-77.7%

Other financials

Income statement

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Revenue$807.7M+1.5%
Operating income$37.6M-59.6%
Net income$4.8M-91.3%
EPS (diluted)$0.03-94.2%

Balance sheet

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Cash & equivalents$1.1B+12.4%
Total debt$2.2B-2.4%
Total equity$914.3M+23.3%
Total assets$4.4B-2.9%

Cash flow

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Operating cash flow-$219.3M-0.8%
CapEx$3.9M-66.4%
Free cash flow-$221.5M+4.3%

Valuation

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Market cap$4.22B-13.4%
Enterprise value$5.27B-13.6%
P/E18.6×+2.9×
P/S1.3×-0.3×

Profitability

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Operating margin9.5%-4.1pp
Net margin7%-3.1pp
FCF margin15.5%-3.7pp

Returns & leverage

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Return on equity27.4%-24.3pp
Debt / equity2.4×-0.6×

Where this comes from

Calculated from Lazard’s reported figures.

Based on trailing twelve months.

The source filing: Lazard’s 10-Q, filed July 28, 2026. Open the filing →

Filed
Jul 28, 2026, 4:33 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001311370-26-000022

FAQ

What is Lazard's return on invested capital?
Lazard (LAZ) reported return on invested capital of 15.6% in Q2 2026.
How has Lazard's return on invested capital changed year-over-year?
Lazard's return on invested capital decreased by 25.8% year-over-year, from 21% to 15.6%.
What is the long-term trend for Lazard's return on invested capital?
Over 4 years (2020 to 2025), Lazard's return on invested capital has grown at a -7.3% compound annual growth rate (CAGR), from 28.6% to 21.1%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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