Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of Lazard.
Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.09B | $2.55B | $2.86B | $3.27B | $2.65B | $2.67B | $2.88B | $2.70B | $2.38B | $2.40B |
| Cost of Revenue | $2.11B | $1.95B | $1.74B | $1.98B | $1.63B | $1.64B | $1.57B | $1.57B | $1.39B | $1.37B |
| Gross Profit | $975.91M | $605.13M | $1.12B | $1.30B | $1.02B | $1.02B | $1.31B | $1.13B | $992.83M | $1.03B |
| Gross Profit Ratio | 31.62% | 23.72% | 39.13% | 39.62% | 38.37% | 38.37% | 45.47% | 41.94% | 41.65% | 42.99% |
| Research and Development Expenses | $- | $- | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $- |
| General and Administrative Expenses | $220.04M | $331.30M | $191.79M | $205.74M | $193.99M | $195.00M | $182.46M | $172.77M | $154.82M | $159.40M |
| Selling and Marketing Expenses | $99.45M | $99.36M | $83.10M | $42.76M | $42.43M | $115.03M | $108.64M | $89.20M | $83.20M | $81.54M |
| Selling General and Administrative Expenses | $319.49M | $430.66M | $274.89M | $248.50M | $236.41M | $310.03M | $291.10M | $261.98M | $238.02M | $240.94M |
| Other Expenses | $269.95M | $254.43M | $325.38M | $324.84M | $275.11M | $301.24M | $355.65M | $34.50M | $202.10M | $809.54M |
| Operating Expenses | $589.44M | $685.09M | $600.27M | $573.34M | $511.52M | $611.27M | $646.75M | $296.48M | $440.12M | $1.05B |
| Cost and Expenses | $2.70B | $2.63B | $2.34B | $2.55B | $2.14B | $2.25B | $2.22B | $1.86B | $1.83B | $2.42B |
| Interest Income | $53.60M | $42.02M | $29.46M | $5.55M | $5.67M | $15.79M | $13.13M | $7.14M | $5.23M | $5.29M |
| Interest Expense | $88.07M | $77.67M | $81.52M | $80.77M | $80.63M | $80.19M | $58.48M | $53.52M | $50.29M | $51.16M |
| Depreciation and Amortization | $36.28M | $43.19M | $2.35B | $2.44B | $2.12B | $2.22B | $2.15B | $1.84B | $1.82B | $5.82M |
| EBITDA | $510.82M | $40.90M | $640.77M | $842.99M | $619.66M | $527.87M | $757.45M | $919.98M | $636.26M | $73.14M |
| EBITDA Ratio | 16.55% | 1.60% | 22.44% | 25.75% | 23.41% | 19.79% | 26.26% | 34.10% | 26.69% | 3.04% |
| Operating Income | $386.47M | $-79.96M | $516.85M | $723.85M | $502.14M | $392.70M | $680.77M | $825.45M | $517.46M | $-16.62M |
| Operating Income Ratio | 12.52% | -3.13% | 18.10% | 22.11% | 18.97% | 14.72% | 23.60% | 30.60% | 21.71% | -0.69% |
| Total Other Income Expenses Net | $-6.80M | $- | $-34.97M | $- | $- | $- | $- | $- | $- | $- |
| Income Before Tax | $379.68M | $-79.96M | $516.85M | $723.85M | $502.14M | $392.70M | $680.77M | $825.45M | $517.46M | $-16.62M |
| Income Before Tax Ratio | 12.30% | -3.13% | 18.10% | 22.11% | 18.97% | 14.72% | 23.60% | 30.60% | 21.71% | -0.69% |
| Income Tax Expense | $99.76M | $-22.65M | $124.36M | $181.30M | $99.45M | $94.98M | $148.32M | $565.60M | $123.77M | $-1.01B |
| Net Income | $279.91M | $-75.48M | $357.52M | $528.06M | $402.46M | $286.50M | $527.12M | $253.58M | $387.70M | $986.37M |
| Net Income Ratio | 9.07% | -2.96% | 12.52% | 16.13% | 15.21% | 10.74% | 18.27% | 9.40% | 16.26% | 41.02% |
| EPS | $2.94 | $-0.90 | $3.68 | $4.90 | $3.69 | $2.60 | $4.06 | $2.09 | $3.11 | $7.87 |
| EPS Diluted | $2.68 | $-0.90 | $3.51 | $4.63 | $3.54 | $2.44 | $4.06 | $1.91 | $2.92 | $7.40 |
| Weighted Average Shares Outstanding | 93.14M | 88.99M | 95.66M | 106.04M | 106.86M | 110.19M | 129.77M | 121.57M | 124.77M | 125.37M |
| Weighted Average Shares Outstanding Diluted | 102.39M | 88.99M | 101.00M | 113.67M | 113.48M | 116.08M | 129.77M | 132.48M | 132.63M | 133.24M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $1.31B | $971.32M | $1.23B | $1.47B | $1.39B | $1.23B | $1.25B | $1.48B | $1.16B | $1.13B |
| Short Term Investments | $268.68M | $219.58M | $779.25M | $1.35B | $1.13B | $1.18B | $1.01B | $935.43M | $419.67M | $389.86M |
| Cash and Short Term Investments | $1.05M | $971.32M | $2.01B | $2.81B | $2.52B | $2.41B | $2.25B | $2.42B | $1.58B | $1.52B |
| Net Receivables | $- | $- | $652.76M | $855.09M | $792.29M | $722.19M | $720.97M | $610.42M | $670.05M | $527.89M |
| Inventory | $- | $- | $-217.84M | $3.56B | $2.27B | $2.04B | $-142.63M | $-116.95M | $-85.36M | $-138.80M |
| Other Current Assets | $32.47M | $34.09M | $843.22M | $855.61M | $228.34M | $160.98M | $181.01M | $152.49M | $114.39M | $164.00M |
| Total Current Assets | $1.05M | $971.32M | $3.29B | $4.24B | $3.31B | $3.12B | $2.98B | $3.03B | $2.25B | $2.05B |
| Property Plant Equipment Net | $595.34M | $639.73M | $681.68M | $466.05M | $513.92M | $551.50M | $212.95M | $205.30M | $209.02M | $207.16M |
| Goodwill | $393.57M | $394.90M | $377.24M | $379.42M | $383.86M | $371.77M | $371.56M | $385.29M | $373.12M | $320.76M |
| Intangible Assets | $- | $30.00K | $90.00K | $150.00K | $210.00K | $1.82M | $3.76M | $6.07M | $8.91M | $6.21M |
| Goodwill and Intangible Assets | $393.57M | $394.93M | $377.33M | $379.57M | $384.07M | $373.59M | $375.32M | $391.36M | $382.02M | $326.98M |
| Long Term Investments | $555.72M | $640.28M | $698.98M | $1.01B | $658.53M | $532.00M | $575.15M | $427.19M | $459.42M | $541.91M |
| Tax Assets | $479.58M | $497.34M | $407.66M | $435.31M | $538.45M | $611.57M | $597.78M | $648.29M | $1.08B | $1.13B |
| Other Non-Current Assets | $152.86M | $1.49B | $394.76M | $623.09M | $564.92M | $477.04M | $258.63M | $228.14M | $184.50M | $226.01M |
| Total Non-Current Assets | $2.18B | $3.66B | $2.56B | $2.91B | $2.66B | $2.55B | $2.02B | $1.90B | $2.31B | $2.43B |
| Other Assets | $2.62B | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $4.79B | $4.64B | $5.85B | $7.15B | $5.97B | $5.66B | $5.00B | $4.93B | $4.56B | $4.49B |
| Account Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Short Term Debt | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Tax Payables | $237.92M | $253.14M | $117.31M | $169.84M | $139.71M | $138.36M | $130.26M | $123.55M | $99.28M | $109.44M |
| Deferred Revenue | $136.54M | $140.42M | $921.83M | $1.44B | $1.20B | $1.25B | $1.15B | $992.34M | $472.28M | $506.67M |
| Other Current Liabilities | $522.33M | $638.83M | $667.20M | $1.14B | $970.73M | $-236.33M | $942.95M | $-168.94M | $337.29M | $367.05M |
| Total Current Liabilities | $896.78M | $1.03B | $921.83M | $1.44B | $1.20B | $1.25B | $1.15B | $992.34M | $472.28M | $506.67M |
| Long Term Debt | $2.19B | $2.18B | $2.20B | $2.24B | $2.29B | $2.32B | $2.59B | $1.19B | $1.66B | $998.39M |
| Deferred Revenue Non-Current | $- | $- | $137.33M | $970.48M | $733.50M | $1.25B | $1.15B | $992.34M | $472.28M | $506.67M |
| Deferred Tax Liabilities Non-Current | $1.08M | $3.86M | $3.92M | $1.83M | $1.04M | $3.51M | $5.57M | $9.41M | $9.17M | $11.10M |
| Other Non-Current Liabilities | $938.81M | $854.28M | $1.47B | $1.81B | $1.48B | $1.38B | $278.90M | $1.48B | $1.12B | $1.10B |
| Total Non-Current Liabilities | $3.13B | $3.03B | $3.67B | $4.05B | $3.77B | $3.74B | $2.87B | $2.67B | $2.79B | $2.61B |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $4.03B | $4.07B | $4.59B | $5.49B | $4.97B | $4.98B | $4.03B | $3.67B | $3.26B | $3.12B |
| Preferred Stock | $- | $- | $1.68B | $1.56B | $1.30B | $1.19B | $1.20B | $1.31M | $1.13B | $- |
| Common Stock | $- | $1.13M | $1.13M | $1.13M | $1.13M | $1.13M | $1.30M | $1.30M | $1.30M | $1.30M |
| Retained Earnings | $1.47B | $1.40B | $1.68B | $1.56B | $1.30B | $1.19B | $1.20B | $1.08B | $1.13B | $1.12B |
| Accumulated Other Comprehensive Income Loss | $-326.74M | $-289.95M | $-295.85M | $-223.85M | $-238.37M | $-293.65M | $-273.82M | $-232.56M | $-314.22M | $-234.36M |
| Other Total Stockholders Equity | $-509.13M | $-690.05M | $-825.52M | $-362.70M | $-146.37M | $-291.06M | $-6.19M | $350.61M | $414.73M | $422.79M |
| Total Stockholders Equity | $636.24M | $423.76M | $556.46M | $975.22M | $911.77M | $609.99M | $916.85M | $1.20B | $1.24B | $1.31B |
| Total Equity | $636.24M | $569.86M | $1.26B | $1.65B | $999.43M | $681.57M | $970.09M | $1.26B | $1.29B | $1.37B |
| Total Liabilities and Stockholders Equity | $4.79B | $4.64B | $5.85B | $7.15B | $5.97B | $5.66B | $5.00B | $4.93B | $4.56B | $4.49B |
| Minority Interest | $- | $146.10M | $702.41M | $677.74M | $87.66M | $71.58M | $53.24M | $59.10M | $57.83M | $53.85M |
| Total Liabilities and Total Equity | $4.79B | $4.64B | $5.85B | $7.15B | $5.97B | $5.66B | $5.00B | $4.93B | $4.56B | $4.49B |
| Total Investments | $824.40M | $859.86M | $1.42B | $2.35B | $1.79B | $1.71B | $1.58B | $1.36B | $879.09M | $931.77M |
| Total Debt | $2.19B | $2.18B | $2.20B | $2.24B | $2.29B | $2.32B | $1.43B | $1.19B | $1.19B | $998.35M |
| Net Debt | $884.32M | $1.20B | $966.63M | $772.73M | $899.83M | $1.09B | $187.72M | $-293.45M | $29.82M | $-133.73M |
Cash Flow Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $286.71M | $-75.48M | $392.48M | $542.54M | $402.69M | $297.72M | $532.45M | $259.85M | $393.69M | $992.93M |
| Depreciation and Amortization | $36.28M | $43.19M | $42.40M | $38.38M | $36.89M | $54.98M | $18.21M | $41.01M | $68.51M | $38.61M |
| Deferred Income Tax | $2.83M | $-124.96M | $41.50M | $92.84M | $46.71M | $24.37M | $38.89M | $298.62M | $63.66M | $-553.09M |
| Stock Based Compensation | $448.49M | $- | $240.64M | $233.96M | $218.45M | $253.28M | $267.57M | $272.96M | $261.46M | $226.72M |
| Change in Working Capital | $- | $-240.87M | $-109.29M | $-299.47M | $-322.00M | $-131.49M | $-268.46M | $56.59M | $-256.88M | $52.55M |
| Accounts Receivables | $- | $- | $140.75M | $-81.61M | $-72.15M | $35.69M | $-131.64M | $95.98M | $-156.13M | $33.15M |
| Inventory | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Accounts Payables | $- | $- | $- | $- | $- | $- | $- | $428.83M | $-17.09M | $- |
| Other Working Capital | $19.84M | $-240.87M | $-250.04M | $-217.86M | $-249.85M | $-167.19M | $-268.46M | $56.59M | $-256.88M | $52.55M |
| Other Non Cash Items | $-31.48M | $562.78M | $60.66M | $468.14M | $64.71M | $425.87M | $6.52M | $-279.68M | $-9.52M | $35.83M |
| Net Cash Provided by Operating Activities | $742.83M | $164.66M | $833.98M | $866.08M | $575.93M | $677.95M | $699.04M | $1.02B | $601.29M | $887.30M |
| Investments in Property Plant and Equipment | $- | $-28.30M | $-49.51M | $-39.70M | $-64.29M | $-42.76M | $-49.59M | $-27.67M | $-38.75M | $-26.63M |
| Acquisitions Net | $- | $-10.52M | $573.00K | $642.00K | $1.35M | $509.00K | $3.38M | $750.00K | $-12.67M | $- |
| Purchases of Investments | $-115.84M | $- | $-1.09M | $-976.00K | $-1.77M | $-2.27M | $- | $- | $- | $- |
| Sales Maturities of Investments | $100.00M | $- | $514.00K | $334.00K | $423.00K | $1.76M | $1.71M | $- | $- | $- |
| Other Investing Activities | $149.91M | $490.00K | $-6.93M | $642.00K | $1.35M | $509.00K | $3.38M | $750.00K | $13.76M | $677.00K |
| Net Cash Used for Investing Activities | $134.07M | $-38.32M | $-56.44M | $-39.06M | $-62.94M | $-42.25M | $-46.21M | $-26.92M | $-37.65M | $-25.95M |
| Debt Repayment | $-3.19M | $- | $- | $- | $- | $236.29M | $235.43M | $-7.34M | $193.70M | $-114.65M |
| Common Stock Issued | $- | $- | $- | $575.00M | $- | $- | $- | $- | $- | $- |
| Common Stock Repurchased | $-59.50M | $-102.05M | $-691.71M | $-406.15M | $-95.23M | $-494.69M | $-552.87M | $-306.74M | $-300.22M | $-172.77M |
| Dividends Paid | $-179.02M | $-173.07M | $-181.88M | $-195.94M | $-196.60M | $-254.92M | $-359.64M | $-341.45M | $-336.14M | $-290.68M |
| Other Financing Activities | $-197.96M | $-1.30B | $-508.45M | $222.93M | $-255.53M | $69.28M | $-49.02M | $-84.86M | $-44.29M | $-168.70M |
| Net Cash Used Provided by Financing Activities | $-439.67M | $-1.57B | $-1.38B | $195.84M | $-547.35M | $-444.05M | $-726.10M | $-740.39M | $-486.95M | $-746.80M |
| Effect of Forex Changes on Cash | $-52.85M | $30.44M | $-186.12M | $-161.67M | $147.63M | $-27.98M | $-89.65M | $76.92M | $-49.98M | $-49.04M |
| Net Change in Cash | $384.38M | $-1.41B | $-790.61M | $861.19M | $113.27M | $163.67M | $-162.92M | $325.05M | $26.70M | $65.50M |
| Cash at End of Period | $1.61B | $1.22B | $2.64B | $3.43B | $2.57B | $2.46B | $2.29B | $1.48B | $1.16B | $1.13B |
| Cash at Beginning of Period | $1.22B | $2.64B | $3.43B | $2.57B | $2.46B | $2.29B | $2.45B | $1.16B | $1.13B | $1.07B |
| Operating Cash Flow | $742.83M | $164.66M | $833.98M | $866.08M | $575.93M | $677.95M | $699.04M | $1.02B | $601.29M | $887.30M |
| Capital Expenditure | $- | $-28.30M | $-49.51M | $-39.70M | $-64.29M | $-42.76M | $-49.59M | $-27.67M | $-38.75M | $-26.63M |
| Free Cash Flow | $742.83M | $136.37M | $784.47M | $826.38M | $511.64M | $635.20M | $649.45M | $987.77M | $562.54M | $860.67M |