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Lazard, Inc.
Lazard, Inc. (LAZ) is listed on NYSE and classified in Capital Markets, part of the Financial Services sector. It is headquartered in New York, United States and has 3,279 employees. The company is worth $3.63B and trades at 18.3x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $3.19B in fiscal 2025, up 1.5% from the year before. Net income was $236.83M. The share price is 36.5% below its 52-week high of $58.75. It pays a dividend yielding 5.36%. 3 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Two Sigma (Two Sigma Investments), at $37.3M. In that quarter, 1 of them opened or added to the position and 1 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -15.3% over 5Y.
today you would have $940.85▼ -5.9%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 18 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $48.56 | $51.48 | $34.80 | $34.67 | $43.63 | $42.30 | $39.96 | $36.91 | $52.50 | $41.09 | $45.01 | $50.03 | $45.32 | $29.84 | $26.11 | $39.49 | $37.97 | $29.74 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 0.0% a year plus a 5.4% dividend yield. Growth capped at 25%.
Median P/E of 13.2 among peers in the sector.
Median P/E of 16.4 across this company’s own years on record.
Cash flow growing 5.0% a year for 10 years, discounted at 10%, then 2.5% forever.
Sector median of 12.4x operating profit, less net debt. Banks have no EBITDA.
Dividend growing 8.0% a year against a 11.3% required return, from the stock’s beta.
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| HGHamilton Insurance Group, Ltd. | $37.11 | 6.4x | 1.3x | 5.39% | 31.08% | $3.66B |
| CNSCohen & Steers Inc | $72.07 | 21.6x | 6.3x | 3.72% | — | $3.71B |
| WSBCWesbanco Inc | $39.13 | 11.3x | 1.0x | 3.88% | 8.98% | $3.75B |
| FIBKFirst Interstate Bancsystem Inc | $36.88 |
| P/E | 16.4x | 22.4x | 19.2x | — | 9.9x | 9.4x | 11.9x | 16.4x | 9.1x | 27.5x | 14.1x | 6.1x | 15.6x | 37.5x | 45.9x | 19.2x | 29.0x | — | 495.7x |
| P/S | 1.8x | 1.7x | 1.8x | 1.5x | 1.4x | 1.5x | 1.8x | 1.7x | 1.7x | 2.5x | 2.2x | 2.5x | 2.8x | 2.9x | 1.9x | 1.9x | 2.7x | 1.8x | 1.1x |
| P/B | 6.5x | 6.2x | 9.1x | 9.3x | 7.0x | 5.0x | 5.2x | 7.4x | 5.2x | 5.7x | 4.3x | 4.6x | 9.5x | 10.8x | 6.8x | 4.9x | 8.4x | 8.4x | 5.8x |
| EPS | $2.17 | $2.68 | -$0.90 | $3.51 | $4.63 | $3.54 | $2.44 | $4.06 | $1.91 | $2.92 | $7.40 | $3.20 | $1.21 | $0.65 | $1.36 | $1.36 | -$1.68 | $0.06 |
| Dividend yield | 4.21% | 4.12% | 3.89% | 5.75% | 5.60% | 4.31% | 4.44% | 5.88% | 8.21% | 5.35% | 6.55% | 5.22% | 2.40% | 2.21% | 3.89% | 2.32% | 1.27% | 1.19% | 1.34% |
| Payout | 74.63% | 92.17% | 74.63% | — | 55.27% | 40.60% | 53.11% | 96.31% | 74.63% | 147.12% | 92.12% | 31.76% | 37.50% | 82.64% | 178.46% | 44.49% | 36.76% | — | 666.67% |
| Profit margin | 9.26% | 7.43% | 8.91% | -2.91% | 12.52% | 16.13% | 15.21% | 10.74% | 18.27% | 9.40% | 16.26% | 41.02% | 18.08% | 7.76% | 4.23% | 9.11% | 8.74% | -7.95% | 0.18% |
| ROE | 29.98% | 27.11% | 43.99% | -17.81% | 64.25% | 54.15% | 44.14% | 46.97% | 57.49% | 21.14% | 31.37% | 75.10% | 60.46% | 28.60% | 14.80% | 24.09% | 26.82% | -36.65% | 1.01% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
7 methods answered, across 4 families.
Room for errors in the reported numbers.
+31.6% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 11.4x |
| 1.1x |
| 5.10% |
| 9.62% |
| $3.51B |
| LMNDLemonade, Inc. | $45.41 | — | 7.0x | 0.00% | -26.96% | $3.51B |
| BANFBancfirst Corp | $112.36 | 14.8x | 2.0x | 1.85% | 13.67% | $3.78B |