Lazard Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Transaction-Based Revenues	3,016	2,862	2,462	2,785	3,141
Net Interest Income	38.49	53.6	42.02	29.46	5.55
Net Interest Income Growth	-28.19%	27.56%	42.66%	430.66%	-2.03%
Other Revenues	131.79	224.09	89.59	40.6	127.17
Revenue	3,186	3,140	2,593	2,855	3,274
Revenue Growth (YoY)	1.48%	21.08%	-9.17%	-12.79%	23.69%
Cost of Revenue	2,207	2,110	2,057	1,766	2,026
Gross Profit	979.02	1,030	536.27	1,089	1,247
Selling, General & Admin	582.57	563.22	582.45	491.5	440.58
Depreciation & Amortization Expenses	-	-	-	-	0.06
Other Operating Expenses	-18.78	-8.24	-43.89	-1.21	2.2
Operating Income	327.6	386.47	-79.96	516.85	723.85
Interest Expense	-87.62	-88.07	-77.67	-81.52	-80.77
Total Non-Operating Income (Expense)	-87.62	-88.07	-77.67	-81.52	-80.77
Pretax Income	239.98	298.41	-157.63	435.33	643.08
Provision for Income Taxes	76.58	99.76	-22.65	124.37	181.3
Net Income	236.83	279.91	-75.48	357.52	528.06
Minority Interest in Earnings	14.19	6.8	18.17	34.97	14.48
Net Income to Common	236.83	279.91	-75.48	357.52	528.06
Net Income Growth	-15.39%	-	-	-32.30%	31.21%
Shares Outstanding (Basic)	97	93	89	96	106
Shares Outstanding (Diluted)	106	102	89	101	114
Shares Change (YoY)	3.85%	15.05%	-11.88%	-11.15%	0.17%
EPS (Basic)	2.37	2.93	-0.90	3.68	4.90
EPS (Diluted)	2.17	2.68	-0.90	3.51	4.63
EPS Growth	-19.03%	-	-	-24.19%	30.79%
Free Cash Flow	487.38	697.33	136.37	784.47	826.38
Free Cash Flow Growth	-30.11%	411.37%	-82.62%	-5.07%	61.52%
Free Cash Flow Per Share	4.58	6.81	1.53	7.77	7.27
Dividends Per Share	2.000	2.000	2.000	1.940	1.880
Dividend Growth	-	-	3.09%	3.19%	-
Gross Margin	30.72%	32.79%	20.68%	38.13%	38.10%
Operating Margin	10.28%	12.31%	-3.08%	18.10%	22.11%
Profit Margin	7.88%	9.13%	-2.21%	13.75%	16.57%
FCF Margin	15.30%	22.21%	5.26%	27.48%	25.24%
EBITDA	434.79	489.56	26.45	619.81	836.25
EBITDA Margin	13.64%	15.59%	1.02%	21.71%	25.54%
EBIT	327.6	386.47	-79.96	516.85	723.85
EBIT Margin	10.28%	12.31%	-3.08%	18.10%	22.11%
Effective Tax Rate	31.91%	33.43%	14.37%	28.57%	28.19%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Capital Markets template. Financial Sources.