Lazard LAZ Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net Revenue (Loss) by Business | ||||||
| Asset Management | $409.76M+11.6% | $367.12M+12.3% | $327.03M+11.8% | $292.48M+1.5% | $288.1M-7.7% | |
| Corporate | -$12.75M-372% | -$2.7M+57.0% | -$6.29M-201% | $6.21M+184% | -$7.41M— | |
| Financial Advisory | $359.57M-33.7% | $542.3M+26.9% | $427.34M-14.1% | $497.31M+35.4% | $367.36M-29.4% | |
| Segment Reporting, Other Segment Item, Amount by Business | ||||||
| Asset Management | $100.93M+254% | $28.53M-13.1% | $32.84M+36.9% | $23.99M+1.6% | $23.61M-5.3% | |
| Corporate | -$20.73M-42.0% | -$14.59M-0.8% | -$14.47M-281% | -$3.8M+77.0% | -$16.56M— | |
| Financial Advisory | $3.4M+404% | $675K-86.6% | $5.06M-15.0% | $5.95M+372% | -$2.18M-117% | |
| Revenue by Business | ||||||
| Asset Management | $338.27M-7.9% | $367.12M+12.3% | $327.03M+11.8% | $292.48M+1.5% | $288.1M-7.7% | |
| Financial Advisory | $358.17M-34.0% | $542.3M+26.9% | $427.34M-14.1% | $497.31M+35.4% | $367.36M-29.4% | |
| Adjusted Operating Income by Business | ||||||
| Asset Management | $84.64M+24.8% | $67.84M-8.0% | $73.76M+13.1% | $65.24M+4.5% | $62.46M+15.8% | |
| Corporate | -$66.06M-2.2% | -$64.65M+6.8% | -$69.38M+12.1% | -$78.9M-20.6% | -$65.45M+0.5% | |
| Financial Advisory | $35.14M-75.8% | $145.37M+49.9% | $96.97M-20.5% | $121.9M+58.3% | $77.01M-44.1% | |
| Adjusted Non-compensation Expense by Business | ||||||
| Asset Management | $63.8M-6.7% | $68.35M+6.0% | $64.51M+1.4% | $63.6M+7.4% | $59.21M-2.4% | |
| Corporate | $33.79M-5.1% | $35.6M+11.1% | $32.05M-22.5% | $41.35M+14.5% | $36.11M-9.0% | |
| Financial Advisory | $51.09M-7.0% | $54.94M+5.5% | $52.1M-0.6% | $52.43M-0.3% | $52.56M-2.1% | |
| Interest Income by Business | ||||||
| Asset Management | $2.32M+7.0% | $2.17M+0.2% | $2.16M+1.2% | $2.14M-12.7% | $2.45M-21.9% | |
| Corporate | $4.1M-35.0% | $6.31M+29.2% | $4.88M-5.6% | $5.17M-35.5% | $8.02M-18.6% | |
| Financial Advisory | $1.4M-6.2% | $1.49M+141% | $618K-67.5% | $1.9M+59.0% | $1.2M-7.0% | |
| Adjusted Compensation and Benefits Expense by Business | ||||||
| Asset Management | $160.39M-20.8% | $202.4M+29.8% | $155.92M+11.6% | $139.66M-2.2% | $142.83M-17.3% | |
| Corporate | $40.25M-1.7% | $40.94M-10.0% | $45.51M-4.3% | $47.57M+23.6% | $38.49M-11.9% | |
| Financial Advisory | $269.95M-20.9% | $341.32M+24.9% | $273.21M-13.8% | $317.04M+32.1% | $239.97M-24.1% | |
| Depreciation and amortization of property (included in adjusted non-compensation expense) by Business | ||||||
| Asset Management | $1.45M-14.5% | $1.7M+8.4% | $1.56M+11.2% | $1.41M+1.9% | $1.38M-14.4% | |
| Corporate | $4.54M-9.2% | $5M-1.8% | $5.1M+1.1% | $5.04M0.0% | $5.04M-6.6% | |
| Financial Advisory | $1.81M-5.9% | $1.93M+6.6% | $1.81M-16.6% | $2.17M+7.7% | $2.01M+1.7% | |
| Goodwill, Written off Related to Sale of Business Unit by Business | ||||||
| Asset Management | $359K— | —— | —— | —— | $0— | |
| Financial Advisory | $0— | —— | —— | —— | $0— | |
| Goodwill by Business | ||||||
| Asset Management | $80.91M-0.4% | $81.27M0.0% | $81.27M0.0% | $81.27M0.0% | $81.27M0.0% | |
| Financial Advisory | $313.68M-0.1% | $313.99M0.0% | $313.98M0.0% | $313.96M+0.4% | $312.83M+0.2% | |
| Foreign currency translation adjustments by Business | ||||||
| Asset Management | $0— | $0— | $0— | $0— | $0— | |
| Financial Advisory | -$312K-2,936% | $11K-57.7% | $26K-97.7% | $1.12M+113% | $528K+153% | |
| Revenue by Product | ||||||
| Incentive Fees | $11.82M-71.1% | $40.87M+164% | $15.49M+193% | $5.28M-46.7% | $9.91M-70.8% | |
| Management Fees | $315.48M— | —— | —— | —— | $254.7M— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Lazard break its business down?
- Lazard (LAZ) reports net revenue (loss) by business across 3 parts — Asset Management, Corporate and Financial Advisory. Each is extracted from the segment footnotes and tracked over time.
- Where does Lazard's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Lazard's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.