Sep 2026 (Q3 FY26) — Oct 22, 2026
Lazard Q3 FY26 — Record Financial Advisory Revenue and Strong Forward Indicators
Read the full callLazard (LAZ) earnings
- Mar 2026
- Sep 2026 (Q3 FY26)
- Dec 2025
Lazard earnings: last reported Thu, 22 Oct 2026, for the quarter ended Sep 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 779 | +16.5% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 11.5 | +3.3 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 101 | +67.1% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Price
$37.21 −0.24% · −$0.09
Performance −25.3% 1Y
1Y: $49.79 on 22 Oct 2025 → $37.21. High $57 (9 Feb 2026), low $34.66 (14 Oct 2026).
- Previous close
- $37.3
- 52-week range
- $34.66 – $57
- One year
- −24.25%
Overview
- Symbol
- LAZ
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Call summaries
Jun 2026 (Q2 FY26) — Jul 23, 2026
Lazard Q2 FY26 — Strong Asset Management Inflows and Improving Financial Advisory Indicators
Read the full callMar 2026 (Q1 FY26) — May 1, 2026
Lazard Q1 FY26 — Strategic Acquisition of Campbell Lutyens and Strong Asset Management Inflows
Read the full callEvery analysed call
Lazard earnings calls (LAZ)
Financials
What the filings say
Net profit, year on year: +67% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 708 | 807 | 839 | 669 | 817 | 771 | 929 | 779 |
| Expenses | 622 | 624 | 710 | 593 | 703 | 653 | 822 | 667 |
| Operating profit | 64 | 161 | 107 | 55 | 93 | 95 | 85 | 90 |
| Operating margin | 9.0% | 20.0% | 12.8% | 8.2% | 11.4% | 12.3% | 9.1% | 11.5% |
| Interest | 23 | 22 | 22 | 21 | 21 | 23 | 23 | 23 |
| Net profit | 50 | 108 | 86 | 60 | 55 | 71 | 50 | 101 |
| EPS ($ per share) | 0.53 | 1.13 | — | 0.61 | 0.56 | 0.71 | — | 0.98 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Reserves | 1,196 | 1,194 | 1,295 | 1,561 | 1,677 | 1,403 | 1,472 | 1,518 |
| Total liabilities | 4,027 | 4,958 | 4,972 | 5,494 | 4,594 | 4,066 | 4,029 | 3,952 |
| Fixed assets | 213 | 220 | 258 | 250 | 250 | 233 | 160 | 168 |
| Total assets | 4,997 | 5,640 | 5,972 | 7,147 | 5,853 | 4,636 | 4,794 | 4,936 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 699 | 678 | 576 | 866 | 834 | 165 | 743 | 519 |
| Cash from investing | -46 | -42 | -63 | -39 | -56 | -38 | 134 | -82 |
| Cash from financing | -726 | -444 | -547 | 196 | -1,382 | -1,571 | -440 | -464 |
| Net cash flow | -163 | 164 | 113 | 861 | -791 | -1,414 | 384 | 61 |
| Capital expenditure | -50 | -43 | -64 | -40 | -50 | -28 | -45 | -32 |
| Free cash flow | 649 | 635 | 512 | 826 | 784 | 136 | 697 | 487 |
LAZ operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Assets under management (AUM) | $259BAs of March 31, we reported AUM $259 billion, up slightly compared to year-end and demonstrating improvements in flows.Source: earnings call transcript | $285BAs of June 30, we reported an AUM of $285 billion, 15% higher than June 2025 and up 10% compared to the prior quarter.Source: earnings call transcript | $284MAs of September 30, we reported AUM of $284 million, higher than September 2025 and approximately even with the prior quarter.Source: earnings call transcript | -99.9% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
17 filings between Mar 2, 2026 and Aug 25, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$8.73M
5 sales by 2 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 6
- Option exercise — converted options into shares
- 4
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 dispositions to the issuer.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Orszag Peter Richard | — | $8.26M | Aug 25, 2026 |
| Hogbin Christopher | — | $473.6K | Mar 19, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 25, 2026 | Orszag Peter Richard CEO & Chairman | Sale 10b5-1 plan | 125,000 | $5.44M |
| Aug 24, 2026 | Orszag Peter Richard CEO & Chairman | Disposition to issuer 10b5-1 plan | 75,000 | — |
| Aug 24, 2026 | Orszag Peter Richard CEO & Chairman | Option exercise 10b5-1 plan | 250,000 | — |
| Mar 19, 2026 | Hogbin Christopher CEO Asset Management | Sale 10b5-1 plan | 3,944 | $155.3K |
| Mar 18, 2026 | Hogbin Christopher CEO Asset Management | Sale 10b5-1 plan | 7,885 | $318.3K |
| Mar 17, 2026 | Hogbin Christopher CEO Asset Management | Tax withheld 10b5-1 plan | 24,674 | $988.4K |
| Mar 17, 2026 | Hogbin Christopher CEO Asset Management | Option exercise 10b5-1 plan | 48,332 | — |
| Mar 17, 2026 | Orszag Peter Richard CEO & Chairman | Sale 10b5-1 plan | 67,170 | $2.74M |
| Mar 17, 2026 | Orszag Peter Richard CEO & Chairman | Sale 10b5-1 plan | 2,000 | $83.3K |
| Mar 16, 2026 | Orszag Peter Richard CEO & Chairman | Option exercise 10b5-1 plan | 138,340 | — |
| Mar 16, 2026 | Orszag Peter Richard CEO & Chairman | Disposition to issuer 10b5-1 plan | 41,502 | $1.69M |
| Mar 2, 2026 | Gathy Michael Chief Accounting Officer | Option exercise | 2,251 | — |
| Mar 2, 2026 | Soto Alexandra Chief Operating Officer | Option exercise | 64,743 | — |
| Mar 2, 2026 | Soto Alexandra Chief Operating Officer | Tax withheld | 30,430 | $1.54M |
| Mar 2, 2026 | Gathy Michael Chief Accounting Officer | Tax withheld | 813 | $41.1K |
| Mar 2, 2026 | Farr Tracy Chief Financial Officer | Option exercise | 5,903 | — |
| Mar 2, 2026 | Farr Tracy Chief Financial Officer | Tax withheld | 3,014 | $152.5K |
| Sep 16, 2025 | Orszag Peter Richard CEO & Chairman | Sale 10b5-1 plan | 32,475 | $1.76M |
| Sep 15, 2025 | Orszag Peter Richard CEO & Chairman | Option exercise 10b5-1 plan | 64,949 | — |
| Sep 15, 2025 | Orszag Peter Richard CEO & Chairman | Disposition to issuer 10b5-1 plan | 19,485 | $1.08M |
| Sep 11, 2025 | Russo Evan L CEO of Asset Management | Sale | 50,000 | $2.85M |
| Sep 10, 2025 | Russo Evan L CEO of Asset Management | Sale | 25,000 | $1.39M |
| Sep 10, 2025 | Gathy Michael Chief Accounting Officer | Sale | 617 | $34.2K |
| Sep 9, 2025 | Russo Evan L CEO of Asset Management | Gift | 15,000 | $0 |
| Jun 11, 2025 | Soto Alexandra Chief Operating Officer | Sale | 85,894 | $3.76M |
| Mar 17, 2025 | Orszag Peter Richard CEO & Chairman | Sale 10b5-1 plan | 26,352 | $1.21M |
| Mar 17, 2025 | Orszag Peter Richard CEO & Chairman | Sale 10b5-1 plan | 38,187 | $1.73M |
| Mar 14, 2025 | Orszag Peter Richard CEO & Chairman | Sale 10b5-1 plan | 27,208 | $1.22M |
| Mar 14, 2025 | Orszag Peter Richard CEO & Chairman | Sale 10b5-1 plan | 37,331 | $1.70M |
| Mar 13, 2025 | Orszag Peter Richard CEO & Chairman | Option exercise 10b5-1 plan | 258,154 | — |
| Mar 13, 2025 | Orszag Peter Richard CEO & Chairman | Disposition to issuer 10b5-1 plan | 77,446 | $3.49M |
| Mar 13, 2025 | Soto Alexandra Chief Operating Officer | Option exercise | 110,638 | — |
| Mar 13, 2025 | Russo Evan L CEO of Asset Management | Disposition to issuer | 100,000 | $4.51M |
| Mar 13, 2025 | Russo Evan L CEO of Asset Management | Option exercise | 254,467 | — |
| Mar 13, 2025 | Soto Alexandra Chief Operating Officer | Tax withheld | 52,000 | $2.38M |
| Mar 3, 2025 | Gathy Michael Chief Accounting Officer | Option exercise | 958 | — |
| Mar 3, 2025 | Gathy Michael Chief Accounting Officer | Tax withheld | 346 | $17.4K |
| Feb 14, 2025 | Russo Evan L CEO of Asset Management | Sale | 25,000 | $1.38M |
| Feb 13, 2025 | Russo Evan L CEO of Asset Management | Sale | 15,000 | $810.0K |
| Feb 12, 2025 | Russo Evan L CEO of Asset Management | Sale | 35,000 | $1.88M |
| Feb 12, 2025 | Russo Evan L CEO of Asset Management | Sale | 50,000 | $2.67M |
| Dec 13, 2024 | Russo Evan L CEO of Asset Management | Gift | 4,000 | $0 |
| Sep 13, 2024 | Orszag Peter Richard Chief Executive Officer | Option exercise | 84,633 | — |
| Sep 13, 2024 | Orszag Peter Richard Chief Executive Officer | Disposition to issuer | 67,500 | $3.11M |
| Sep 4, 2024 | JACOBS KENNETH M Executive Chairman | Sale 10b5-1 plan | 28,803 | $1.39M |
| Sep 4, 2024 | JACOBS KENNETH M Executive Chairman | Sale 10b5-1 plan | 700 | $33.5K |
| Sep 3, 2024 | JACOBS KENNETH M Executive Chairman | Sale 10b5-1 plan | 85,740 | $4.12M |
| Sep 3, 2024 | JACOBS KENNETH M Executive Chairman | Sale 10b5-1 plan | 2,030 | $100.0K |
| Sep 3, 2024 | JACOBS KENNETH M Executive Chairman | Sale 10b5-1 plan | 69,701 | $3.35M |
| Sep 3, 2024 | JACOBS KENNETH M Executive Chairman | Sale 10b5-1 plan | 2,030 | $100.0K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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