Lazard, Inc. (LAZ)

Lazard Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	289.59	251.02	286.71	-57.31	392.48	542.55
Depreciation & Amortization	33.56	34.19	36.28	42.85	42.34	38.32
Stock-Based Compensation	483.73	459.82	448.49	429.86	406.3	394.11
Other Adjustments	-0.49	67.17	-44.91	-9.87	102.16	190.57
Changes in Trading Assets	-37.11	-17.85	72.72	-145.01	178.03	-458.59
Change in Receivables	-40.68	-62.25	-3.58	-100.5	140.75	-81.61
Changes in Accrued Expenses	-189.99	-208.04	12.47	52.31	-372.62	274.15
Changes in Other Operating Activities	-24.83	-4.72	-65.34	-47.67	-55.44	-33.41
Operating Cash Flow	517.58	519.33	742.83	164.66	833.98	866.08
Operating Cash Flow Growth	-15.88%	-30.09%	351.12%	-80.26%	-3.71%	50.38%
Capital Expenditures	-20.31	-31.95	-45.5	-28.3	-49.51	-39.7
Sale of Property, Plant & Equipment	-	-	196.39	0.49	0.57	0.64
Purchases of Investments	-	-	-115.84	-	-	-
Proceeds from Sale of Investments	-	-	100	-	-	-
Payments for Business Acquisitions	-	-	-	-10.52	-	-
Proceeds from Business Divestments	-46.23	-	-	-	-	-
Other Investing Activities	-40.26	-50.04	-0.99	-	-7.5	-
Investing Cash Flow	-106.8	-81.98	134.07	-38.32	-56.44	-39.06
Long-Term Debt Issued	300	300	395.96	-	-	-
Long-Term Debt Repaid	-298.35	-298.35	-399.15	-	-	-
Net Long-Term Debt Issued (Repaid)	1.65	1.65	-3.19	-	-	-
Issuance of Common Stock	-	-	-	-	-	575
Repurchase of Common Stock	-203.37	-206.16	-123.84	-156.58	-753.62	-474.16
Net Common Stock Issued (Repurchased)	-203.37	-206.16	-123.84	-156.58	-753.62	100.84
Common Dividends Paid	-188.58	-186.58	-179.02	-173.08	-181.88	-195.94
Other Financing Activities	-35.14	-72.54	-133.62	-1,242	-446.53	290.94
Financing Cash Flow	-425.45	-463.64	-439.67	-1,571	-1,382	195.84
Effect of Exchange Rate Changes on Cash and Cash Equivalents	41.34	87.5	-52.85	30.44	-186.13	-161.67
Net Cash Flow	26.68	61.2	384.39	-1,414	-790.61	861.19
Free Cash Flow	497.28	487.38	697.33	136.37	784.47	826.38
Free Cash Flow Growth	2.03%	-30.11%	411.37%	-82.62%	-5.07%	61.52%
FCF Margin	15.50%	15.73%	22.85%	5.42%	28.28%	25.88%
Free Cash Flow Per Share	4.65	4.58	6.81	1.53	7.77	7.27
Levered Free Cash Flow	40.35	10.1	287.35	-201.29	100.3	308.82
Unlevered Free Cash Flow	50.93	22.65	297.33	-183.12	135.27	323.31

Updated May 4, 2026. Data Source: Fiscal.ai. Capital Markets template. Financial Sources.

SEC Filings: 10-K · 10-Q