Lazard Ltd (LAZ) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Lazard Ltd stock $31.52, price $38.31, that is 17.7% below the price, quality 68 out of 100. Rating: overvalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
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Lazard Ltd
LAZ · USOur calculation puts a fair price 18% below what the stock costs today.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range $23.45 – $56.23 · fair‑value band $23.64 – $39.41 · the $38.31 price screens above the $31.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Company profile
Lazard, Inc. operates as a financial advisory and asset management firm in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through two segments, Financial Advisory and Asset Management.
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The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.
This segment offers its services to corporate, partnership, institutional, government, sovereign, and individual clients to various industry areas, including consumers and retail; financial institutions; financial sponsors; healthcare and life sciences; industrials; media, entertainment, and sports; power, energy, and infrastructure; real estate; technology; and telecom and digital infrastructure.
The Asset Management segment offers a range of investment solutions; 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.
Lazard, Inc. was incorporated in 1848 and is headquartered in New York, New York.
Stock analysis
Lazard Ltd (LAZ) currently trades at $38.31, while our model-based Fair Value estimate is $31.52, 18% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $64.60 per share, and 5 of the 12 models we run sit above the $38.31 price.
Bear case: the Economic Profit group reads lowest at $15.13, and 7 of the 12 models stay below the price. Data coverage for this calculation is high.
Scenario range: $23.64 (bear) to $39.41 (bull), the price of $38.31 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 68/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Lazard Ltd reported revenue of $3.2B in FY2025 versus $3.3B in FY2021, a compound −0.6%/yr. Reported net income was $237M in FY2025, compounding −18.2%/yr from FY2021.
Key figures
Market cap $4.1B Mid · P/E ratio 23.1 · P/S ratio 1.26 · EPS (TTM) $1.66 · Dividend yield 5.2% · Net margin 5.7% · Return on equity 19.8% · Return on assets (EBIT) 6.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −18%, LAZ screens richer than that median.
Fair Value models
All 12 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, one officer or director sold shares worth $5.4M and none bought.
- SalePeter Richard OrszagCEO & Chairman, Director2× since Mar 17, 2026: 194,170 shares, avg. $42.54$8.3MAug 25, 202610b5-1 plan
- SaleChristopher HogbinCEO Asset Management11,829 shares at $40.04$473,593Mar 19, 202610b5-1 plan
Plus one other filing such as a grant, option exercise or tax withholding. It is not a market purchase or sale.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
LAZ screens overvalued: fair value 18% below the price. Compare with Morgan Stanley →
Recent news
- Can Lazard's Campbell Lutyens Buyout Drive Long-Term Growth?
- Lazard Completes Its Acquisition of Campbell Lutyens and Launches Lazard CL, the Global Leader for the Next Era of Private Capital
- 2 Reasons to avoid LAZ and 1 stock to buy instead
- LAZ Q3 deep dive: Advisory and asset management progress, Campbell Lutyens integration in focus
Compare Lazard Ltd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 384 stocks
Valuation Multiplesvs Capital Markets median · lower = cheaper
Strength profile in five axes (Snowflake)
HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- EBIT margin by industry
- P/S ratio by industry
- Stock screener with 62 metrics
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Morgan Stanley MS | $181.44 | $260.72 | +44% | vs LAZ |
| The Charles Schwab Corporation SCHW | $91.49 | $117.60 | +29% | vs LAZ |
| Guotai Haitong Securities Co 601211 | ¥16.46 | ¥18.02 | +9% | vs LAZ |
| Nomura Holdings NMR | $9.42 | $10.17 | +8% | vs LAZ |
| The Goldman Sachs Group GS | $865.82 | $766.86 | −11% | vs LAZ |
| CITIC Securities Company 600030 | ¥25.72 | ¥20.42 | −21% | vs LAZ |
| Robinhood Markets, Inc HOOD | $80.91 | $47.60 | −41% | vs LAZ |
| Macquarie Group MQG | A$247.94 | A$123.84 | −50% | vs LAZ |
| East Money Information Co 300059 | ¥18.78 | ¥6.72 | −64% | vs LAZ |
| Interactive Brokers Group IBKR | $75.82 | $17.48 | −77% | vs LAZ |
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Key figures of Lazard Ltd
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