LAZ Lazard margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 68

Gross margin

100%

Operating margin

8.1%

EBITDA margin

10.8%

Net margin

5.6%

For this period, Lazard reports a gross margin of 100%, an operating margin of 8.1%, an EBITDA margin of 10.8%, and a net margin of 5.6%. The main decline was in EBITDA margin, down 4.1 percentage points; the remaining margins remained unchanged.

LAZ margin history

Gross, operating, EBITDA and net margin trends

Lazard's margins averaged 100% gross, 8.85% operating, 11.91% EBITDA, and 6.52% net during the last 3 years. Lazard's current metrics show that operating, EBITDA, and net margins are below their three-year averages.

LAZ margin expansion

Year-over-year margin changes in percentage points

From the same period last year, operating margin contracted by 3.5 percentage points, EBITDA margin by 4.1 percentage points, and net margin by 3.5 percentage points, while gross margin was unchanged.

Gross margin expansion

0pp

Operating margin expansion

-3.5pp

EBITDA margin expansion

-4.1pp

Net margin expansion

-3.5pp

LAZ Gross margin

Lazard's gross margin averaged 100% over the last 3 years. Compared with its three-year average, Lazard's current gross margin is 100% and is in line with its three-year average. Over the last 3 years, Lazard's gross margin peaked at 100% in Sep 2026 and reached a low of 100% in Dec 2023.

LAZ Operating margin

Lazard recorded an average operating margin of 8.85% across the last 3 years. Against its three-year average, Lazard's operating margin is currently 8.1%, 0.8 percentage points below its three-year average. Lazard's operating margin ranged from a low of -3.2% in Dec 2023 to a high of 13.7% in Jun 2025.

LAZ EBITDA margin

Lazard's EBITDA margin averaged 11.91% during the last 3 years. Compared with its three-year average, Lazard's current EBITDA margin is 10.8% and is 1.1 percentage points below its three-year average. Over the last 3 years, Lazard's EBITDA margin peaked at 16.8% in Jun 2025 and reached a low of 0.3% in Dec 2023.

LAZ Net margin

Over the last 3 years, Lazard's net margin averaged 6.52%. The current net margin of 5.6% is 0.9 percentage points below its three-year average. During this period, net margin reached a high of 10.4% in Mar 2025 and a low of -3% in Dec 2023.

LAZ margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 100%, LAZ stands higher than the Financial Services sector and the industry average. Looking at the Financial Services sector average of 83.5%, Lazard's gross margin is 20% higher.

Frequently asked questions

What is Lazard's gross margin?

For the period ending Sep 30, 2026, LAZ recorded a gross margin of 100%.

What is Lazard's operating margin?

As of Sep 30, 2026, LAZ has an operating margin of 8.1%.

What is Lazard's EBITDA margin?

The current EBITDA margin for LAZ is 10.8% as of Sep 30, 2026.

What is Lazard's net margin?

For the period ending Sep 30, 2026, LAZ recorded a net margin of 5.6%.

What are the average margins of LAZ?

The three-year average margins for LAZ were 100.0% gross, 8.9% operating, 11.9% EBITDA, and 6.5% net.

What are the highest historical margins of LAZ?

Over this 5-year history, LAZ peaked at 100% gross in Sep 2026, 23.3% operating in Sep 2022, 26.5% EBITDA in Jun 2022, and 17.3% net in Jun 2022.

What are the lowest historical margins of LAZ?

Over the last 5 years, Lazard's lowest margins were 100% gross in Dec 2021, -3.3% operating in Sep 2023, 0% EBITDA in Sep 2023, and -4% net in Sep 2023.