Lazard, Inc. splits its revenue 2 ways in its filings. By operating segments, the largest line in fiscal 2025, which ended Dec 31, 2025 was Financial Advisory at $1.8 billion, 58% of the total. By sales mix, the largest line in fiscal 2025, which ended Dec 31, 2025 was Financial Advisory Fees at $1.8 billion, 57% of the total.
USD in millions. The percent under a figure is the change from the year before.
| Line |
FY 2026
Sep 30, 2026
|
FY 2025
Dec 31, 2025
|
FY 2024
Dec 31, 2024
|
FY 2023
Dec 31, 2023
|
FY 2022
Dec 31, 2022
|
FY 2021
Dec 31, 2021
|
FY 2020
Dec 31, 2020
|
FY 2019
Dec 31, 2019
|
FY 2018
Dec 31, 2018
|
FY 2017
Dec 31, 2017
|
FY 2016
Dec 31, 2016
|
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
3,375
|
3,186
|
3,140
|
2,593
|
2,855
|
3,274
|
2,647
|
2,667
|
2,885
|
2,698
|
2,384
|
| Operating segments | |||||||||||
| Financial Advisory |
1,818
+0.3%
share 53.9%
|
1,834
+4.4%
share 57.6%
|
1,756
+26.8%
share 55.9%
|
1,385
-16.9%
share 53.4%
|
1,666
-5.6%
share 58.4%
|
1,765
+24.2%
share 53.9%
|
1,421
+3.4%
share 53.7%
|
1,374
-11.7%
share 51.5%
|
1,556
share 53.9%
|
—
|
—
|
| Asset Management |
1,401
+14.8%
share 41.5%
|
1,275
+7.4%
share 40.0%
|
1,187
+3.1%
share 37.8%
|
1,151
-4.4%
share 44.4%
|
1,205
-15.4%
share 42.2%
|
1,425
+22.1%
share 43.5%
|
1,167
-5.7%
share 44.1%
|
1,237
-7.1%
share 46.4%
|
1,332
share 46.2%
|
—
|
—
|
| Sales mix | |||||||||||
| Financial Advisory Fees |
—
|
1,820
+4.2%
share 57.1%
|
1,747
+26.3%
share 55.6%
|
1,384
-16.6%
share 53.4%
|
1,659
-7.1%
share 58.1%
|
1,786
+26.0%
share 54.6%
|
1,418
+3.4%
share 53.6%
|
1,371
-11.8%
share 51.4%
|
1,554
+12.2%
share 53.9%
|
1,386
share 51.4%
|
—
|
| Management Fees And Other |
—
|
1,203
+6.0%
share 37.8%
|
1,135
+1.2%
share 36.2%
|
1,122
-1.4%
share 43.3%
|
1,138
-12.8%
share 39.8%
|
1,305
+17.6%
share 39.8%
|
1,109
-8.8%
share 41.9%
|
1,216
-7.3%
share 45.6%
|
1,311
share 45.5%
|
—
|
—
|
| Incentive Fees |
—
|
72
+38.8%
share 2.2%
|
52
+74.4%
share 1.6%
|
30
-56.1%
share 1.1%
|
67
-44.1%
share 2.4%
|
120
+107.5%
share 3.7%
|
58
+172.7%
share 2.2%
|
21
+3.7%
share 0.8%
|
21
share 0.7%
|
—
|
—
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.
Company profile
- Industry
- Investment Advice (SIC 6282)
- Listed as
- LAZ (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- New York, NY
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1311370
- Former names
- Lazard Ltd (until Nov 29, 2023)
Other Investment Advice companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.