Lazard LAZ Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net Revenue (Loss) by Business | ||||||
| Asset Management | $1.4B+18.4% | $1.27B+7.4% | $1.22B+4.3% | $1.19B+2.3% | $1.18B+1.4% | |
| Corporate | -$15.52M— | -$10.18M— | —— | —— | —— | |
| Financial Advisory | $1.83B+9.4% | $1.83B+4.4% | $1.81B+5.1% | $1.76B+8.4% | $1.67B+7.0% | |
| Segment Reporting, Other Segment Item, Amount by Business | ||||||
| Asset Management | $186.28M+104% | $108.96M+25.1% | $105.36M+26.7% | $94.89M+16.0% | $91.17M+10.5% | |
| Corporate | -$53.59M— | -$49.42M— | —— | —— | —— | |
| Financial Advisory | $15.08M-6.2% | $9.49M-62.2% | $21.6M+10.8% | $18.65M-23.9% | $16.08M-43.1% | |
| Revenue by Business | ||||||
| Asset Management | $1.32B+12.3% | $1.27B+7.4% | $1.22B+4.3% | $1.19B+2.3% | $1.18B+1.4% | |
| Financial Advisory | $1.83B+9.3% | $1.83B+4.4% | $1.81B+5.1% | $1.76B+8.4% | $1.67B+7.0% | |
| Adjusted Operating Income by Business | ||||||
| Asset Management | $291.47M+12.4% | $269.29M+1.0% | $255.4M-11.5% | $249.4M-15.9% | $259.38M-12.7% | |
| Corporate | -$278.99M-2.8% | -$278.39M-10.2% | -$279.54M-8.1% | -$277.66M-5.7% | -$271.3M-3.6% | |
| Financial Advisory | $399.37M+5.8% | $441.25M+11.1% | $433.6M+46.2% | $417.75M+65.4% | $377.35M+81.2% | |
| Adjusted Non-compensation Expense by Business | ||||||
| Asset Management | $260.27M+11.4% | $255.67M+11.2% | $247.96M+10.7% | $241.51M+9.4% | $233.6M+6.3% | |
| Corporate | $142.79M-3.8% | $145.11M+1.3% | $149.18M+4.1% | $147.97M-2.7% | $148.44M-1.1% | |
| Financial Advisory | $210.55M+1.9% | $212.03M+5.0% | $210.78M+7.1% | $208.02M+6.2% | $206.7M+7.0% | |
| Interest Income by Business | ||||||
| Asset Management | $8.78M-33.5% | $8.91M-38.4% | $9.88M-39.3% | $11.52M-33.8% | $13.19M-28.8% | |
| Corporate | $20.45M-42.6% | $24.37M-29.2% | $27.92M-6.1% | $33.07M+32.9% | $35.64M+59.6% | |
| Financial Advisory | $5.41M+9.1% | $5.21M+10.1% | $5.01M+30.6% | $5.55M+81.7% | $4.96M+132% | |
| Adjusted Compensation and Benefits Expense by Business | ||||||
| Asset Management | $658.37M+10.6% | $640.8M+6.2% | $611.02M+7.8% | $600.8M+7.7% | $595.46M+6.4% | |
| Corporate | $174.27M+4.6% | $172.52M+2.6% | $175.26M+9.4% | $172M+12.0% | $166.65M+13.3% | |
| Financial Advisory | $1.2B+12.3% | $1.17B+3.5% | $1.15B+7.2% | $1.11B+2.5% | $1.07B+0.7% | |
| Depreciation and amortization of property (included in adjusted non-compensation expense) by Business | ||||||
| Asset Management | $6.12M+5.5% | $6.05M+6.0% | $5.97M+4.6% | $5.81M-1.6% | $5.8M-5.4% | |
| Corporate | $19.68M-9.0% | $20.18M-8.8% | $20.57M-13.2% | $21.01M-16.4% | $21.62M-18.3% | |
| Financial Advisory | $7.71M-5.6% | $7.91M-5.9% | $7.96M-6.8% | $8.16M-5.6% | $8.16M-5.0% | |
| Goodwill by Business | ||||||
| Asset Management | $324.72M-0.1% | $325.08M0.0% | $325.08M0.0% | $325.08M0.0% | $325.08M0.0% | |
| Financial Advisory | $1.26B+0.4% | $1.25B+0.3% | $1.25B0.0% | $1.25B0.0% | $1.25B-0.1% | |
| Foreign currency translation adjustments by Business | ||||||
| Asset Management | $0— | $0— | $0— | $0— | $0— | |
| Financial Advisory | $847K— | $1.69M— | $676K— | —— | —— | |
| Revenue by Product | ||||||
| Incentive Fees | $73.46M+39.9% | $71.54M+38.8% | $64.61M+92.8% | $54.19M+76.8% | $52.5M+58.9% |
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.