Lazard, Inc. (LAZ) stock
LAZNYSEInvestment AdviceFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 26, 2026Score 5/3013% above fair value
$40.40−0.47 (-1.15%)
Close on Nov 13, 2026Market cap $4.44BP/E 24.5Yield 4.95%
Lazard operating margin
Operating margin is operating income as a percentage of revenue.
Lazard's operating margin for the twelve months ending Sep 30, 2026 was 7.9%. For fiscal 2025 it was 10.3%, against 12.3% the year before. The highest annual figure on record is 30.6% in fiscal 2017.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 10.3% | −2.0 |
| FY2024 | Dec 31, 2024 | 12.3% | +15.4 |
| FY2023 | Dec 31, 2023 | -3.1% | −21.2 |
| FY2022 | Dec 31, 2022 | 18.1% | −4.0 |
| FY2021 | Dec 31, 2021 | 22.1% | +3.1 |
| FY2020 | Dec 31, 2020 | 19.0% | +4.2 |
| FY2019 | Dec 31, 2019 | 14.7% | −8.9 |
| FY2018 | Dec 31, 2018 | 23.6% | −7.0 |
| FY2017 | Dec 31, 2017 | 30.6% | +8.9 |
| FY2016 | Dec 31, 2016 | 21.7% | +22.4 |
| FY2015 | Dec 31, 2015 | -0.7% | −22.7 |
| FY2014 | Dec 31, 2014 | 22.0% | +11.5 |
| FY2013 | Dec 31, 2013 | 10.5% | +4.3 |
| FY2012 | Dec 31, 2012 | 6.2% | −6.1 |
| FY2011 | Dec 31, 2011 | 12.3% | +0.1 |
| FY2010 | Dec 31, 2010 | 12.2% | +23.3 |
| FY2009 | Dec 31, 2009 | -11.1% | −12.6 |
| FY2008 | Dec 31, 2008 | 1.5% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 6.5% | −5.8 |
| Q2 FY2026 | Jun 30, 2026 | 4.5% | −6.9 |
| Q1 FY2026 | Mar 31, 2026 | 11.5% | +3.3 |
| Q4 FY2025 | Dec 31, 2025 | 9.1% | −3.6 |
| Q3 FY2025 | Sep 30, 2025 | 12.3% | −7.6 |
| Q2 FY2025 | Jun 30, 2025 | 11.4% | +2.4 |
| Q1 FY2025 | Mar 31, 2025 | 8.2% | +1.2 |
| Q4 FY2024 | Dec 31, 2024 | 12.8% | +4.1 |
| Q3 FY2024 | Sep 30, 2024 | 20.0% | +20.9 |
| Q2 FY2024 | Jun 30, 2024 | 9.0% | +25.6 |
| Q1 FY2024 | Mar 31, 2024 | 6.9% | +13.5 |
| Q4 FY2023 | Dec 31, 2023 | 8.7% | −1.3 |
| Q3 FY2023 | Sep 30, 2023 | -0.9% | −22.1 |
| Q2 FY2023 | Jun 30, 2023 | -16.6% | −35.7 |
| Q1 FY2023 | Mar 31, 2023 | -6.6% | −28.9 |
| Q4 FY2022 | Dec 31, 2022 | 10.0% | −16.5 |
| Q3 FY2022 | Sep 30, 2022 | 21.2% | +0.2 |
| Q2 FY2022 | Jun 30, 2022 | 19.0% | −0.7 |
| Q1 FY2022 | Mar 31, 2022 | 22.3% | +2.6 |
| Q4 FY2021 | Dec 31, 2021 | 26.5% | +2.3 |
| Q3 FY2021 | Sep 30, 2021 | 21.0% | +3.5 |
| Q2 FY2021 | Jun 30, 2021 | 19.7% | +3.5 |
| Q1 FY2021 | Mar 31, 2021 | 19.8% | +4.7 |
| Q4 FY2020 | Dec 31, 2020 | 24.2% | +7.7 |
| Q3 FY2020 | Sep 30, 2020 | 17.5% | +8.9 |
| Q2 FY2020 | Jun 30, 2020 | 16.2% | +0.6 |
| Q1 FY2020 | Mar 31, 2020 | 15.1% | −3.0 |
| Q4 FY2019 | Dec 31, 2019 | 16.5% | −6.3 |
| Q3 FY2019 | Sep 30, 2019 | 8.6% | −13.6 |
| Q2 FY2019 | Jun 30, 2019 | 15.6% | −10.8 |
| Q1 FY2019 | Mar 31, 2019 | 18.1% | −6.5 |
| Q4 FY2018 | Dec 31, 2018 | 22.7% | −30.1 |
| Q3 FY2018 | Sep 30, 2018 | 22.1% | −0.9 |
| Q2 FY2018 | Jun 30, 2018 | 26.4% | +2.3 |
| Q1 FY2018 | Mar 31, 2018 | 24.6% | +0.5 |
| Q4 FY2017 | Dec 31, 2017 | 52.8% | +30.1 |
| Q3 FY2017 | Sep 30, 2017 | 23.1% | – |
| Q2 FY2017 | Jun 30, 2017 | 24.1% | – |
| Q1 FY2017 | Mar 31, 2017 | 24.1% | – |
| Q4 FY2016 | Dec 31, 2016 | 22.7% | – |
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