undamentalytics Newsletter
Sign in

Lazard, Inc. balance sheet

At the end of fiscal 2025, Lazard, Inc. had total assets of $4.94bn, total liabilities of $3.95bn and shareholders' equity of $869m. It held $1.47bn in cash against $1.70bn of debt: net debt of $231m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash and equivalents9171,2101,0048508411,0671,1321,1591,4841,2471,2321,3901,4651,2359711,3081,4691,264
Goodwill262313357364345335321373385372372384379377395394395439
Total assets3,1483,4233,0822,9873,0113,3254,4784,5574,9294,9975,6405,9727,1475,8534,6364,7944,9364,548
Long-term debt——————9891,1891,1901,4341,6801,6831,6851,6881,6901,6871,6881,690
Total debt0000009981,2001,2001,4501,7001,7001,7001,7001,7001,7001,7001,700
Total liabilities2,6252,6262,2152,3352,3812,5623,1103,2633,6704,0274,9584,9725,4944,5944,0664,0293,9523,498
Shareholders' equity3556527265705607071,3131,2361,200917610912975556424636869949
Non-controlling interests and other (assets − liabilities − equity)1681441418270———————678702146129115101
Net debt (negative = net cash)−917−1,210−1,004−850−841−1,067−13441−284203468310235465729392231436

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

Compare with peers

Head to head: BGC vs LAZCNCK vs LAZFUTU vs LAZLAZ vs VIRT

More: Investment Banking & Brokerage stocks compared, Financials sector, rankings of US companies

Figures from Lazard, Inc.'s SEC filings (10-K and 10-Q), retrieved October 27, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Lazard, Inc.