Lazard, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $3.2B | $3.1B | $2.6B | $2.9B | $3.3B |
| Operating income | $327.6M | $386.5M | -$80.0M | $516.8M | $723.8M |
| Interest expense | $87.3M | $88.1M | $77.7M | $81.5M | $80.8M |
| Pretax income | $327.6M | $386.5M | -$80.0M | — | — |
| Income tax expense | $76.6M | $99.8M | -$22.6M | $124.4M | $181.3M |
| Net income | $236.8M | $279.9M | -$75.5M | $357.5M | $528.1M |
| Balance Sheet | |||||
| Cash and equivalents | $1.5B | $1.3B | $971.3M | $1.2B | $1.5B |
| Total assets | $4.9B | $4.8B | $4.6B | $5.9B | $7.1B |
| Total liabilities | $4.0B | $4.0B | $4.1B | $4.6B | $5.5B |
| Total debt | $1.7B | $1.7B | $1.7B | $1.7B | $1.7B |
| Stockholders' equity | $873.7M | $636.2M | $423.8M | $556.5M | $975.2M |
| Cash Flow Statement | |||||
| Cash from operations | $519.3M | $742.8M | $164.7M | $834.0M | $866.1M |
| Depreciation and amortization | $34.2M | $36.3M | $42.9M | $42.3M | $38.3M |
| Stock-based compensation | $359.7M | $277.7M | $250.6M | $240.6M | $234.0M |
| Capital expenditure | $31.9M | $45.5M | $28.3M | $49.5M | $39.7M |
| Free cash flow | $487.4M | $697.3M | $136.4M | $784.5M | $826.4M |
| Dividends paid | $186.6M | $179.0M | $173.1M | $181.9M | $195.9M |
| Share repurchases | $91.0M | $59.5M | $102.1M | $691.7M | $406.1M |
| Impairments | $0 | $0 | $19.1M | $0 | $0 |
Shares outstanding 111.7M · Free float 99.0%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.