Lazard Ltd

Chart & Performance

D1W1MN

P/E

—

P/S

1.78

EPS

—

Div Yield, %

3.80%

Shrs. gr., 5y

-7.27%

Rev. gr., 5y

-2.37%

Revenues

2.55b

-10.65%

Net income

-75m

CFO

165m

-80.26%

Profile

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, restructurings, capital advisory, shareholder advisory, capital raising, sovereign advisory, and other strategic advisory matters. This segment serves corporate, partnership, institutional, government, sovereign, and individual clients across various industry areas, including consumers, financial institutions, healthcare and life sciences, industrials, power and energy/infrastructure, and real estate, as well as technology, telecommunication, and media and entertainment. The Asset Management segment offers a range of investment solutions, and investment and wealth management services in equity and fixed income strategies; asset allocation strategies; and alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries, and private clients. The company was founded in 1848 and is based in Hamilton, Bermuda.

URL

https://www.lazard.com/

IPO date

May 05, 2005

Employees

3,321

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12	2014‑12
Income
Revenues	2,551,140 -10.65%	2,855,093 -12.79%	3,273,816 23.69%
Cost of revenue	2,376,670	2,012,862	2,225,124
Unusual Expense (Income)
NOPBT	174,470	842,231	1,048,692
NOPBT Margin	6.84%	29.50%	32.03%
Operating Taxes	(22,650)	124,365	181,303
Tax Rate		14.77%	17.29%
NOPAT	197,120	717,866	867,389
Net income	(75,479) -121.11%	357,517 -32.30%	528,064 31.21%
Dividends	(173,075)	(181,880)	(195,944)
Dividend yield	5.59%	5.19%	3.95%
Proceeds from repurchase of equity	(102,051)	(691,705)	168,851
BB yield	3.30%	19.75%	-3.40%
Debt
Debt current		78,922	80,589
Long-term debt	2,660,582	2,715,090	2,790,271
Deferred revenue		137,330	970,476
Other long-term liabilities	854,277	1,329,205	841,464
Net debt	829,406	81,016	(949,045)
Cash flow
Cash from operating activities	164,662	833,984	866,079
CAPEX	(28,297)	(49,511)	(39,698)
Cash from investing activities	(38,323)	(56,438)	(39,056)
Cash from financing activities	(1,571,194)	(1,382,035)	195,836
FCF	674,299	128,157	854,113
Balance
Cash	1,190,892	2,014,019	2,812,566
Long term investments	640,284	698,977	1,007,339
Excess cash	1,703,619	2,570,241	3,656,214
Stockholders' equity	1,259,917	3,761,107	3,576,297
Invested Capital	2,339,613	2,318,180	2,037,100
ROIC	8.46%	32.97%	40.18%
ROCE	4.84%	17.22%	18.68%
EV
Common stock shares outstanding	88,994	100,998	113,675
Price	34.80 0.37%	34.67 -20.54%	43.63 3.14%
Market cap	3,096,991 -11.55%	3,501,589 -29.40%	4,959,627 3.32%
EV	4,072,500	5,961,725	6,248,962
EBITDA	217,657	884,627	1,087,067
EV/EBITDA	18.71	6.74	5.75
Interest	77,673	81,522	80,768
Interest/NOPBT	44.52%	9.68%	7.70%