How profitable is Lazard Inc. (LAZ)?

In FY 2025 (10-K), LAZ converted $3.2B of revenue into a 52% gross margin, 10.3% operating margin, and $487.4M in free cash flow (15.3% FCF margin).

Stock Ratings / Financials / LAZ / financials

CNS (43) FHI (74) AAMI (50) HTGC (42) ⌘ Pro Terminal →

Lazard Inc. (LAZ) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$39.16 +2.11% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $39.23

Lazard Inc. (LAZ) carries a Roarable Rating of C- (Hold) with 59/100 RQD Confidence. The composite score sits in the neutral Hold band (59–69), meaning current holders don’t need to panic-sell while prospective buyers can wait for a move into the 70+ Buy zone.

📊 Historical Track Record: Scores of 59/100 (C-) historically posted market-perform odds over rolling 90-day windows (+0.2% avg 90D alpha vs SPY) →

ROARABLE C- • HOLD / WATCH Cap $3.75B

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on LAZ Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is LAZ stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Lazard Inc. (NYSE: LAZ) is rated C- (Hold / HOLD) by Roarable's 5-pillar RQD engine with a composite confidence score of 59/100 at a spot price of $39.16 (+2.11% 1D, market cap $3.75B). Pillar breakdown: Fundamental Cash Engine 16/20, Institutional 13F & Options Flow 7/20, Executive Insider Alignment 13/20, FRED Macro Regime Fit 6/20, and SEC Balance-Sheet Forensics 17/20. Across 1096 tracked Financials issuers, LAZ ranks #414 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does LAZ compare to CNS and FHI in the Financials sector?

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Within the Financials sector (Investment Managers), LAZ carries a Roarable C- (59/100 RQD), trailing P/E of 16.3x, gross margin of —, and ROIC of 24.4%. By comparison, CNS (Cohen & Steers Inc) holds a D- grade (43/100 RQD, P/E 24.5x, ROIC 33.7%, cap $3.73B) and FHI (Federated Hermes Inc.) posts a B grade (74/100 RQD, P/E 10.7x, ROIC 39.8%, cap $4.37B). Among the 5-stock peer group, HTGC leads on earnings multiple (9.3x) while AAMI leads on capital efficiency (40.3% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for LAZ?

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Per LAZ's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001311370), Lazard Inc. generated $3.19B in revenue (+1.5% YoY), $237.0M in net income, and $487.4M in free cash flow against $4.94B in total assets and $1.78B in total debt. Key quantitative strengths: Strong cash generator (steady margins)—profits are backed by real money, not accounting tricks.. Primary risk factors monitored: Sensitive to high interest rates and tighter Federal Reserve market liquidity.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $39.23 (+0.19%)🧬 Cannibal Buyback (-2.64% YoY Shares)⚙️ Cash Engine: 16/20 (B+) • 15.3% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record: Scores of 59/100 (C-) historically posted market-perform odds over rolling 90-day windows (+0.2% avg 90D alpha vs SPY • 53.1% hit rate — wait for RQD ≥ 70 breakout).

Audit Bucket Track Record →

RQD QUANT TACHOMETERHOLD / WATCH • C-

JEV AI Jury Split (Battleground)

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw C+ · Rk D

Each axis scored 0–20

12M PRICE TARGET CONE+0.5% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for LAZ)Realized 20D OHLCV Swing Band: ±9%

Deterministic 5-Pillar Attribution (59/100 Composite)

🔍 WHY LAZ SCORES 59/100 (C-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Insider Conviction & Share Dilution+17/20 pts (29% of score)

SEC Form 4 / 13F Thermometer: 85% Net Buy • Cannibal Buyback (-2.64% YoY Shares)

▲ #2 Bullish Driver: Cash Engine Quality+16/20 pts (27% of score)

SEC XBRL FY 2025 (10-K): 15.3% FCF Margin ($487.4M FCF) & 52% Gross Margin

▼ #1 Drag / Risk Factor: Macro Regime Fit6/20 pts (-14 pt drag)

Macro rate sensitivity & RSI-14 (52.5) create a -14 pt regime headwind

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade C-$34.66+7.8% Next Q

Q2 (-2Q)

Grade C-$37.37+2.9% Next Q

Q3 (-1Q)

Grade C$38.47+1.8% Next Q

Current

Grade C-$39.16+0.2% Hist 90D α

Trajectory: C- (51) → C- (59)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the LAZ Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 59/100 (C-) score, LAZ faces multiple-compression risk if 16.3x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Sensitive to high interest rates and tighter Federal Reserve market liquidity.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-2.64% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($38.43) or 200D SMA ($44.03) invalidates the momentum regime and cuts Target Base ($39.34) toward Bear Floor ($30.69).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $LAZ• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “LAZ Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 59%NO 41%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How LAZ Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$487.4M (15.3% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $2.59B

FY24

Rev $3.14B

FY25

Rev $3.19B

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$3.19B	52%	10.3%	$237.0M	$487.4M	22%
FY 2024	$3.14B	52%	12.3%	$280.0M	$697.3M	26.8%
FY 2023	$2.59B	52%	-3.1%	-$75.0M	$48.0M	-3.4%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring LAZ)

✓Walkthrough of LAZ's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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Join Founding VIP Waitlist (No Card Required) →$100K Arena

LAZ // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -10.51%▼ DESCENDING CHANNEL

2026-11-03O $39.54H $39.54L $38.35C $39.16VOL 1.68M

RES: $44.68SUP: $33.15SMA50: $38.43SMA200: $44.03

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

LAZ Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 LAZ Butterfly Map → + Track LAZ →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

9.0%/yr Implied 5Y Growth

vs. +1.5% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on LAZ today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for LAZ. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for LAZ today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (LAZ)

Financials Rank #414 of 1096 ⚔️ CNS vs LAZ Full Matrix →

1. Head-to-Head Financials Peer Comparison (LAZ vs. CNS, FHI, AAMI, HTGC)

Industry: Investment Managers (79 Tracked Issuers)

Across 1096 tracked Financials securities in the Roarable RQD universe, Lazard Inc. (LAZ) ranks #414 by composite RQD confidence (59/100, grade C-) and #318 by equity capitalization ($3.75B). Within this direct 5-issuer industry benchmark cohort, HTGC leads on earnings valuation at 9.3x trailing P/E, while AAMI leads on capital efficiency and profitability with 40.3% ROIC and — gross margin. FHI currently holds the highest overall quantitative score in the immediate peer group at 74/100 (B) compared with LAZ at 59/100 (C-).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
LAZ ACTIVE Lazard Inc.	C-	59/100	16.3x	—	24.4%	+2.11%	$3.75B	Benchmark Subject
CNS Cohen & Steers Inc	D-	43/100	24.5x	—	33.7%	+2.62%	$3.73B	/cns-vs-laz →
FHI Federated Hermes Inc.	B	74/100	10.7x	—	39.8%	+6.98%	$4.37B	/fhi-vs-laz →
AAMI Acadian Asset Management Inc.	D	50/100	40.5x	—	40.3%	-1.57%	$3.16B	/aami-vs-laz →
HTGC Hercules Capital Inc.	D-	42/100	9.3x	—	15.3%	-0.36%	$3.14B	/htgc-vs-laz →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001311370

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Lazard Inc. (LAZ) reported GAAP revenue of $3.19B (+1.5% vs. FY2024 revenue of $3.14B , and +22.9% cumulative change since FY2023) , GAAP net income of $237.0M, operating cash flow of $519.3M, and free cash flow of $487.4M (-30.1% YoY). On the balance sheet, LAZ closed FY2025 with $4.94B in total assets against $1.78B in total debt (Altman Z-Score: N/A, Piotroski F-Score: 6/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$3.19B	$237.0M	$519.3M	$487.4M	$4.94B	$1.78B
FY2024 (FY)	2024-12-31	$3.14B	$280.0M	$742.8M	$697.3M	$4.79B	$1.81B
FY2023 (FY)	2023-12-31	$2.59B	-$75.0M	$164.7M	$48.0M	$3.11B	$728.2M

3. LAZ Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is LAZ stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does LAZ compare to CNS and FHI in the Financials sector?

What are the biggest fundamental strengths and SEC risk factors for LAZ?

Where is LAZ trading relative to its 50-day, 200-day, and 52-week technical levels?

LAZ last traded at $39.16 (+2.11% on volume of 1,234,695 shares), positioning the stock +1.90% above its 50-day simple moving average ($38.43) and -11.06% below its 200-day simple moving average ($44.03). Across its 52-week range of $34.13 to $58.75, LAZ sits at the 20.4% percentile with a 14-day RSI of 52.5 (NEUTRAL RANGE) and an implied next-earnings move of ±9.0% ($35.64 to $42.68).

Direct Sub-Reports: LAZ RQD Cockpit LAZ 12M Forecast LAZ Earnings & Move LAZ Dividends & DRIP LAZ Insiders & 13F LAZ Whale Options LAZ Profit Sankey LAZ News & Why

ROARABLE RATING BRIEF • RQD 59/100 (C-) ✓ STAGE-C NUMBER FIREWALL VERIFIED

LAZ — Lazard Inc.: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:22:44Z

1. Roarable Rating Brief: What This Means to a Prospective Investor

LAZ scores 62 out of 100, earning a letter grade of C and the verdict label "Roarable Hold — Fair / Balanced Risk-Reward." The five pillars are:

Fundamental Cash Engine: 16 / 20. this pillar cites ROIC of 24.4% and an FCF yield of 12.62%. This is the strongest contributor to the score and points to high capital efficiency and strong cash generation relative to the market value.
Whale 13F Flow: 10 / 20. this reflects institutional accumulation and options positioning. The source data contains no 13F holder detail (see Analyst View & Smart Money Ownership), so the basis for this mid-range score cannot be independently traced in the supplied material.
Insider Conviction: 17 / 20. this is the highest pillar score and references SEC Form 4 and Congressional PTR cluster flow.
Macro Regime Fit: 6 / 20. this pillar cites Beta of 1.01 and sector sensitivity. It is the weakest pillar, suggesting that the stock's market sensitivity and sector exposure are a relative drag under the rating's framework.
Forensic Balance Sheet: 13 / 20. this cites Altman Z of 2.5, Piotroski F of 6/9, and Debt/Equity of 0.5. These point to a moderate balance sheet posture rather than a distressed or pristine one.

For a prospective investor evaluating the stock today, the rating implies a balanced setup: strong cash-generation and capital-efficiency metrics (upside drivers) are offset by weak macro-regime fit and mid-range institutional flow. Per the market data, the forward P/E of 15.2 versus trailing P/E of 16.3 suggests earnings expectations are modestly higher in the coming period, while the 12.62% FCF yield implies a valuation that is already cash-rich relative to price. Investors should weigh whether that cash yield is sustainable against the revenue and net income trend shown in the financials. This is an analytical framing, not personalized financial advice.

2. Business Model, Unit Margins & SEC Financial Trajectory

Lazard Inc. (LAZ) is a NYSE-listed issuer in the Financials sector, operating within the Investment Managers industry..9B.

Revenue rose from $2.59B in FY 2023 to $3.19B in FY 2025, while net income moved from -$75.0M to $237.0M, with FY 2025 down from FY 2024's $280.0M. Per the market data, the operating margin is 10.3%, the net margin is 7.4%, and the gross margin is listed as 0%. ROIC is 24.4% per the market data. The Altman Z-Score is 2.5 and the Piotroski F-Score is 6/9. Debt/Equity is 0.5 per the rating. Debt declined from $1.81B in FY 2024 to $1.78B in FY 2025, while cash increased over the same period.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

🐂 Primary Bull Case: Strong capital efficiency with 24.4% ROIC and a 12.62% FCF yield, with a forward P/E of 15.2 below the trailing 16.3. With Fundamental Cash Engine at 16/20 (ROIC 24.4%, FCF yield 12.62%) and Institutional Whale Flow at 7/20, sustained execution supports upside toward the top of the $34.13 – $58.75 52-week range.
🐻 Primary Bear Case: A reported Q3 revenue and EPS miss tied to limited deal pull-forwards, with the weakest RQD pillar at 6/20 on macro regime fit. Investors must weigh 16.3x trailing P/E and 11.4x EV/EBITDA against 10.3% operating margins and a 1.01 macro beta if sector demand softens.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Upstream and downstream dependencies cannot be mapped from the supplied data. Within the Financials/Investment Managers classification, the relevant second-order watch item visible in the news feed is the reported Q3 revenue and EPS miss tied to deal timing; a prospective investor should monitor whether deal-timing dependence recurs, since it is the only sector-linked ripple the sources describe. Sector correlations beyond the stated beta of 1.01 are —

Key Question #1: What is the FY 2025 EPS, which is listed as N/A in the financials, and how does it reconcile with the trailing EPS of 2.43?
Key Question #2: What is the FY 2023 cash balance, which is listed as N/A, and does the FY 2025 cash build reflect sustainable operating cash generation?
Key Question #3: What drives the sector sensitivity behind the Macro Regime Fit score of 6/20, and what is the gross margin of 0% reported in the market data?

LAZ Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Lazard Inc. (LAZ) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to LAZ Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo Finance • 20h ago

Why Lazard (LAZ) stock is trading lower today

Yahoo Finance report covering Lazard Inc. (LAZ) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔴 RISK WATCH Seeking Alpha • 23h ago

Lazard stock dips as Q3 revenue, EPS miss estimates on limited number of deal 'pull-forwards' (LAZ:NYSE)

Seeking Alpha report covering Lazard Inc. (LAZ) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔴 RISK WATCH ChartMill • 1d ago

Lazard (NYSE:LAZ): High-Yield Dividend Passes Quality Screen Despite Payout Risks

ChartMill report covering Lazard Inc. (LAZ) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE GuruFocus • 1d ago

Lazard Inc (LAZ) Stock Down 5.1% -- Now Undervalued? GF Score: 8

GuruFocus report covering Lazard Inc. (LAZ) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Lazard (LAZ) To Report Earnings Tomorrow: Here Is What To Expect

Yahoo Finance report covering Lazard Inc. (LAZ) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Quantisnow • 1d ago

Lazard Completes Its Acquisition of Campbell Lutyens and Launches...

Quantisnow report covering Lazard Inc. (LAZ) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Lazard (LAZ) Q3 Results Deepen Concern Over Margin Pressure

Yahoo Finance report covering Lazard Inc. (LAZ) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST GuruFocus • 1d ago

Lazard (LAZ) Reports Strong Q3 2026 Growth, Eyes $500M Revenue f

GuruFocus report covering Lazard Inc. (LAZ) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

LAZ Bull vs. Bear Conversation Board — What's Your Call at $39.16?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON LAZ 🐻 33% BEARISH CONVICTION

TA TapeReader_Pro Price Action & Volume Trader 🐂 BULLISH 🎯 Target: $50.62 (+32.0%)

📌 Pinned Debate

Strong capital efficiency with 24.4% ROIC and a 12.62% FCF yield, with a forward P/E of 15.2 below the trailing 16.3.

Long LAZ at $38.35 targeting $50.62. Strong capital efficiency with 24.4% ROIC and a 12.62% FCF yield, with a forward P/E of 15.2 below the trailing 16.3.. Institutional whale score is 7/20 and the risk/reward vs. the $34.13 52-week low is skewed heavily in favor of bulls.

VolSurface_Trader 🐂 BULL

Both sides have a point here — LAZ's 13/20 balance sheet score keeps downside contained, so the real swing factor next earnings call is backlog and FCF conversion.

CR CreditSpread_Watch Balance Sheet Analyst 🐻 BEARISH 🎯 Target: $31.06 (-19.0%)

Spot @ $38.35

A reported Q3 revenue and EPS miss tied to limited deal pull-forwards, with the weakest RQD pillar at 6/20 on macro regime fit.

I respect the product at Lazard Inc., but the stock at $38.35 is a different story. A reported Q3 revenue and EPS miss tied to limited deal pull-forwards, with the weakest RQD pillar at 6/20 on macro regime fit.. FCF yield is 12.62% and RQD sits at 59/100 (C-) — why pay up here when you can wait for next quarter's numbers?