Lazard, Inc.

Listed Company

LAZCIK 0001311370NYSELarge AcceleratedInvestment AdviceDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.19B

Net Income

$236.83M

Total Assets

$4.94B

Equity

$873.65M

Shares Out

111.69M

Op. Cash Flow

$519.33M

LAZ$43.15−20.41% · past yearDBEQ Basic

Daily closing prices

Business

Lazard is a global financial advisory and asset management firm providing M&A advisory, capital solutions, restructuring, sovereign advisory, and geopolitical advice to corporations, institutions, governments, and individuals, alongside active asset management and investment solutions across equity, fixed income, and alternative strategies. The company operates through two principal segments—Financial Advisory and Asset Management—with a global presence across North America, Europe, the Middle East, Asia, and Australia.

Summary from 10-K filed 2026-02-23

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest income	38	54	42	29	6
Other	132	224	90	41	127
Total revenue	3,186	3,140	2,593	2,855	3,274
Interest expense	88	88	78	—	—
Net revenue	3,099	3,052	2,515	2,774	3,193
Compensation and benefits	2,085	2,003	1,946	1,656	1,896
Occupancy and equipment	133	133	131	122	128
Marketing and business development	118	99	99	83	43
Technology and information services	193	184	190	172	147
Professional services	88	87	89	70	78
Fund administration and outsourced services	122	107	111	110	131
Benefit pursuant to tax receivable agreement obligation	−19	−8	−44	−1	2
Other	50	60	73	45	45
Total operating expenses	2,771	2,665	2,595	2,257	2,469
OPERATING INCOME (LOSS)	328	386	−80	517	724
Provision (benefit) for income taxes	77	100	−23	124	181
NET INCOME (LOSS)	251	287	−57	392	543
LESS - NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	14	7	18	35	14
NET INCOME (LOSS) ATTRIBUTABLE TO LAZARD	237	280	−75	358	528
Basic (in shares)	97	93	89	96	106
Diluted (in shares)	106	102	89	101	114
Basic (in usd per share)	2.37	2.93	−0.9	3.68	4.9
Diluted (in usd per share)	2.17	2.68	−0.9	3.51	4.63

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,469	1,308	971	1,235	1,465
Deposits with banks and short-term investments	167	269	220	779	1,348
Restricted cash	34	32	34	625	617
Fees	706	641	561	492	669
Customers and other	192	113	202	161	136
Receivables, net	898	754	762	653	806
Investments (including $48,966 pledged at December 31, 2025)	626	615	702	699	1,007
Property (net of accumulated amortization and depreciation of $286,235 and $332,840 at December 31, 2025 and 2024, respectively)	168	160	233	250	250
Operating lease right-of-use assets	413	435	407	432	466
Goodwill and other intangible assets (net of accumulated amortization of $67,711 at both December 31, 2025 and 2024, respectively)	395	394	395	377	380
Deferred tax assets	459	480	497	408	435
Other assets	312	348	415	395	373
Total Assets	4,941	4,794	4,636	5,853	7,147
Deposits and other customer payables	331	308	443	922	1,443
Accrued compensation and benefits	795	845	781	736	972
Operating lease liabilities	485	505	485	514	553
Senior debt	1,688	1,687	1,690	1,688	1,685
Deferred tax liabilities	1	1	4	4	2
Other liabilities	651	682	547	540	626
Total Liabilities	3,952	4,029	4,066	4,594	5,494
Commitments and contingencies	—	—	—	—	—
Redeemable noncontrolling interests	78	80	88	583	575
Preferred stock, par value $.01 per share; 15,000,000 shares authorized: no shares issued and outstanding at December 31, 2025 and 2024	0	0	0	—	—
Par value $.01 per share (500,000,000 shares authorized; 111,728,757 and 112,766,091 shares issued at December 31, 2025 and 2024, including shares held in treasury)	1	1	1	1	1
Additional paid-in-capital	340	328	247	168	145
Retained earnings	1,488	1,472	1,403	1,677	1,561
Accumulated other comprehensive loss, net of tax	−272	−327	−290	−296	−224
Stockholders' equity subtotal before common stock held in treasury and Noncontrolling interests	1,558	1,474	—	—	—
Common stock held in treasury, at cost (17,822,122 and 22,467,315 shares at December 31, 2025 and 2024, respectively)	−684	−838	—	—	—
Total Lazard Stockholders Equity	874	636	424	556	975
Noncontrolling interests	37	49	58	119	103
Total Stockholders Equity	911	685	482	675	1,078
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders Equity	4,941	4,794	4,636	5,853	7,147

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of deferred expenses and share-based incentive compensation	460	448	430	406	—
Noncash lease expense	73	67	64	61	74
Depreciation and amortization of property	34	36	43	42	38
Currency translation adjustment reclassification	0	0	2	32,000	24
Deferred tax provision (benefit)	22	11	−81	43	91
Gain on sale of owned office building	0	−114	0	0	—
Impairment of equity method investments and other receivables	0	0	23	0	0
Impairment of assets associated with cost-saving initiatives	0	0	9	0	0
Loss on LGAC liquidation	0	0	18	0	0
Other adjustments	−9	−280,000	0	0	—
Receivables-net	−62	−4	−101	141	−82
Investments	−18	73	−145	178	−459
Other assets	−5	−65	−48	−55	−33
Accrued compensation and benefits and other liabilities	−208	12	52	−373	274
Net cash provided by operating activities	519	743	165	834	866
Additions to property	−32	−45	−28	−50	−40
Proceeds from sale of property	0	194	0	0	—
Purchase of equity method investment	0	−17	0	0	—
Purchase of debt securities	0	−98	0	0	—
Proceeds from sales and maturities of debt securities	0	100	0	0	—
Other disposals of property	0	2	490,000	573,000	—
Acquisition of business, net of cash acquired	0	0	−11	0	0
Other investing activities	−50	−985,000	0	−8	—
Net cash provided by (used in) investing activities	−82	134	−38	−56	−39
Proceeds from (payments for) customer deposits, net	−20	−48	−572	−373	—
Issuance of senior debt	300	396	0	0	—
Contributions from noncontrolling interests	4	2	2	514,000	334,000
Extinguishment of senior debt	−298	−399	0	0	—
Distributions to noncontrolling interests	−3	−2	−6	−32	−11
Tax receivable agreement obligation	0	−31	−32	−21	−10
Distribution to redeemable noncontrolling interests in connection with LGAC redemption	0	0	−586	0	0
Purchase of common stock	−91	−60	−102	−692	−406
Common stock dividends	−187	−179	−173	−182	−196
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements	−115	−64	−55	−62	−68
LFI Consolidated Funds redemptions	−33	−36	−35	−10	−21
Other financing activities	−20	−19	−12	−11	−8
Net cash used in financing activities	−464	−440	−1,571	−1,382	196
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	87	−53	30	−186	−162
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	61	384	−1,414	−791	861

Filings

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Frequently asked questions

What is Lazard, Inc.'s CIK number?

Lazard, Inc.'s SEC CIK number is 0001311370 (1311370). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Lazard, Inc.'s SEC filings?

All of Lazard, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Lazard, Inc. last report earnings?

Lazard, Inc. (LAZ) most recently filed an earnings 8-K with the SEC on May 1, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-029091). This is Lazard, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Lazard, Inc.'s most recent earnings 8-K?

Lazard, Inc.'s latest earnings 8-K (Item 2.02) was filed May 1, 2026 under accession 0001628280-26-029091. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Lazard, Inc.'s latest earnings 8-K →
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