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
Interest and Dividend Income	-	53.6	42.02	29.46	5.55
Total Interest Expense	87.62	88.07	77.67	81.52	80.77
Net Interest Income	-87.62	-34.46	-35.65	-52.07	-75.22
Asset Management Fee	-	1,115	1,078	1,126	1,355
Underwriting & Investment Banking Fee	3,186	1,747	1,384	1,659	1,786
Gain on Sale of Investments (Rev)	-	-6.28	36.29	-92.69	14.31
Other Revenue	-	227.52	58.87	132.9	114.1
Revenue	3,099	3,049	2,521	2,773	3,194
Revenue Growth (YoY)	1.64%	20.94%	-9.09%	-13.18%	24.44%
Salaries & Employee Benefits	2,035	1,957	1,753	1,623	1,883
Cost of Services Provided	654.44	610.19	620.33	556.57	523.65
Other Operating Expenses	50.21	60.2	73	44.91	45.32
Total Operating Expenses	2,740	2,627	2,447	2,225	2,452
Operating Income	358.95	422	74.5	548.26	742.2
Currency Exchange Gains	-	2.85	-5.57	0.4	-1.23
Other Non-Operating Income (Expenses)	18.78	8.24	43.89	1.21	-2.2
EBT Excluding Unusual Items	377.72	433.08	112.82	549.87	738.77
Merger & Restructuring Charges	-	-46.61	-182.1	-	-14.92
Other Unusual Items	-50.12	-	-10.67	-33.02	-
Pretax Income	327.6	386.47	-79.96	516.85	723.85
Income Tax Expense	76.58	99.76	-22.65	124.37	181.3
Earnings From Continuing Ops.	251.02	286.71	-57.31	392.48	542.55
Minority Interest in Earnings	-14.19	-6.8	-18.17	-34.97	-14.48
Net Income	236.83	279.91	-75.48	357.52	528.06
Preferred Dividends & Other Adjustments	-	6.89	4.44	5.73	8.65
Net Income to Common	236.83	273.03	-79.92	351.79	519.42
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)	2.43	2.93	-0.90	3.68	4.90
EPS (Diluted)	2.17	2.68	-0.90	3.51	4.63
EPS Growth	-18.98%	-	-	-24.23%	31.00%
Free Cash Flow	-	697.33	136.37	784.47	826.38
Free Cash Flow Per Share	-	6.81	1.53	7.77	7.27
Dividend Per Share	2.000	2.000	2.000	1.940	1.880
Dividend Growth	-	-	3.09%	3.19%	-
Operating Margin	11.58%	13.84%	2.96%	19.77%	23.23%
Profit Margin	7.64%	8.96%	-3.17%	12.68%	16.26%
Free Cash Flow Margin	-	22.87%	5.41%	28.29%	25.87%
Effective Tax Rate	23.38%	25.81%	-	24.06%	25.05%
Revenue as Reported	-	3,140	2,593	2,855	3,274

Updated Jan 29, 2026. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.

SEC Filings: 10-K · 10-Q