LAZLazard, Inc.
Investment Advice
- Revenue
- $3.2B
- 1.5% YoY
- Operating margin
- 10.3%
- 16% YoY
- EBITDA
- $362M
- 14% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 1.2×
- $426M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear219% of net incomeCash flow under 80% of net income
- Dilutive SBCFired11% of revenueOver 10% of revenue
- Payouts exceed cash flowClear53% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear10% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.3B | $2.9B | $2.6B | $3.1B | $3.2B | 1.5% |
| Operating income | $724M | $517M | −$80M | $386M | $328M | 15% |
| Net income | $528M | $358M | −$75M | $280M | $237M | 15% |
| Operating cash flow | $866M | $834M | $165M | $743M | $519M | 30% |
| Capex | $40M | $50M | $28M | $45M | $32M | 30% |
| Stock-based comp | $234M | $241M | $251M | $278M | $360M | 30% |
| Buybacks | $406M | $692M | $102M | $60M | $91M | 53% |
| Dividends | $196M | $182M | $173M | $179M | $187M | 4.2% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 147 | 203 |
| FY2024 | — | — | 149 | 176 |
| FY2023 | — | — | 96 | 135 |
| FY2022 | — | — | 90 | 121 |
| FY2021 | — | — | 107 | 135 |