Lazard Ltd
NYSE: LAZ · FINANCIAL SERVICES · CAPITAL MARKETS
Updated 2026-06-05
Lazard Ltd (LAZ) Financial statements
SEC filings — annual and quarterly data.
Margin trends — annual
| Year | Revenue | Net income | Gross margin | Op. margin | Profit margin |
|---|---|---|---|---|---|
| 2006 | $1.49B | $92.98M | 34.43% | 21.91% | 6.23% |
| 2007 | $1.92B | $155.04M | 33.03% | 21.81% | 8.08% |
| 2008 | $1.56B | $3.14M | 17.59% | 1.61% | 0.20% |
| 2009 | $1.53B | $-130.24M | 5.44% | -11.91% | -8.51% |
| 2010 | $1.98B | $174.98M | 39.75% | 12.29% | 8.83% |
| 2011 | $1.91B | $174.92M | 38.64% | 12.36% | 9.18% |
| 2012 | $1.99B | $84.31M | 32.04% | 6.23% | 4.24% |
| 2013 | $2.06B | $160.21M | 37.94% | 10.52% | 7.78% |
| 2014 | $2.36B | $427.28M | 44.28% | 22.03% | 18.12% |
| 2015 | $2.40B | $986.37M | 45.00% | -0.69% | 41.11% |
| 2016 | $2.38B | $387.70M | 43.64% | 21.76% | 16.30% |
| 2017 | $2.69B | $253.58M | 43.77% | 30.68% | 9.42% |
| 2018 | $2.87B | $527.13M | 47.25% | 23.71% | 18.36% |
| 2019 | $2.65B | $286.50M | 41.03% | 14.81% | 10.81% |
| 2020 | $2.64B | $402.46M | 41.29% | 19.01% | 15.24% |
| 2021 | $3.27B | $528.06M | 41.99% | 22.15% | 16.16% |
| 2022 | $2.83B | $357.52M | 41.38% | 18.29% | 12.65% |
| 2023 | $2.55B | $-75.48M | 23.72% | -3.13% | -2.96% |
| 2024 | $3.09B | $279.91M | 35.09% | 12.52% | 9.07% |
| 2025 | $3.19B | $236.83M | 31.79% | 13.03% | 7.43% |
Frequently asked questions
What is Lazard Ltd's revenue?
Lazard Ltd's trailing twelve-month revenue is $3.20B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is LAZ?
In its most recent fiscal year, LAZ ran a gross margin of 31.79%, an operating margin of 13.03%, and a net margin of 7.43%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does LAZ generate?
LAZ produced $505.23M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is LAZ's balance sheet healthy?
LAZ holds $1.50B in cash and equivalents against $1.69B in long-term debt, on $873.65M of shareholder equity. That debt is best read against the cash flow the business throws off each year.