Lazard (LAZ) Releases Q4 2025 Earnings: Revenue Up but EPS Down

Lazard Inc. (LAZ) reported quarterly results showing revenue expansion alongside notable pressure on profitability.

Key financial highlights:

Revenue: $929.4 million, up 10.8% year-over-year.

Gross profit: $258.6 million, down 7.2% year-over-year.

Operating profit: $85.0 million, down 34.3% year-over-year.

Net income attributable to common shareholders: $54.2 million, down 37.2% year-over-year.

Diluted earnings per share: $0.45, down 43.8% year-over-year.

Cash flow and balance sheet snapshot:

Cash from operating activities: $399.7 million, up 10.2% year-over-year.

Capital expenditures (purchases of property, plant and equipment): $3.6 million, down 75.9% year-over-year.

Cash and cash equivalents: $1.64 billion, up 3.8% year-over-year.

Total liabilities: $3.95 billion, down 1.9% year-over-year.

Cost of sales: $670.8 million, up 19.7% year-over-year.

Overall, Lazard (LAZ) posted solid top-line growth but saw margins and earnings compress materially, while operating cash flow remained healthy and the balance sheet showed modest improvement in cash levels and a slight decline in liabilities.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Lazard Inc. Insider Trading Activity

Lazard Inc. insiders have traded $LAZ stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.

Here’s a breakdown of recent trading of $LAZ stock by insiders over the last 6 months:

EVAN L RUSSO (CEO of Asset Management) has made 0 purchases and 2 sales selling 75,000 shares for an estimated $4,240,260.
PETER RICHARD ORSZAG (CEO & Chairman) sold 32,475 shares for an estimated $1,756,572
MICHAEL GATHY (Chief Accounting Officer) sold 617 shares for an estimated $34,163

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Lazard Inc. Hedge Fund Activity

We have seen 169 institutional investors add shares of Lazard Inc. stock to their portfolio, and 174 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

M&T BANK CORP added 1,356,800 shares (+2763.4%) to their portfolio in Q4 2025, for an estimated $65,886,208
PRICE T ROWE ASSOCIATES INC /MD/ added 1,047,869 shares (+13.5%) to their portfolio in Q4 2025, for an estimated $50,884,518
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 994,172 shares (-79.1%) from their portfolio in Q4 2025, for an estimated $48,276,992
BALYASNY ASSET MANAGEMENT L.P. removed 714,977 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $37,736,486
FMR LLC added 580,855 shares (+5.4%) to their portfolio in Q4 2025, for an estimated $28,206,318
NO STREET GP LP removed 550,000 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $29,029,000
ALGEBRIS (UK) LTD added 502,730 shares (+inf%) to their portfolio in Q4 2025, for an estimated $24,412,568

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Lazard Inc. Analyst Ratings

Wall Street analysts have issued reports on $LAZ in the last several months. We have seen 1 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

Keefe, Bruyette & Woods issued a "Outperform" rating on 01/30/2026
Morgan Stanley issued a "Underweight" rating on 01/06/2026

To track analyst ratings and price targets for Lazard Inc., check out Quiver Quantitative's $LAZ forecast page.

Lazard Inc. Price Targets

Multiple analysts have issued price targets for $LAZ recently. We have seen 4 analysts offer price targets for $LAZ in the last 6 months, with a median target of $57.5.

Here are some recent targets:

Alex Bond from Keefe, Bruyette & Woods set a target price of $62.0 on 01/30/2026
Ryan Kenny from Morgan Stanley set a target price of $59.0 on 01/06/2026
Michael Brown from UBS set a target price of $54.0 on 12/11/2025
Brennan Hawken from BMO Capital set a target price of $56.0 on 10/03/2025