Lazard (LAZ) Operating Expenses (2009 - 2026)

Lazard has disclosed Operating Expenses across 18 years of filings, most recently posting $667.0 million for Q1 2026.

• Operating Expenses for Q1 2026 came in at $667.0 million, up 12.4% year-over-year; the trailing twelve-month figure through Mar 2026 was $2.8 billion (up 11.62% YoY), and the FY2025 annual result was $2.8 billion, up 3.97% from the prior year.
• Operating Expenses came in at $667.0 million for Q1 2026 at Lazard, down from $821.8 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $821.8 million in Q4 2025 to a low of $513.7 million in Q2 2022.
• The 5-year median for Operating Expenses is $639.2 million (2022), against an average of $644.5 million.
• Across the five-year window, Operating Expenses retreated 21.8% in 2022 and jumped 46.62% in 2023, its largest moves.
• Lazard's Operating Expenses stood at $639.2 million in 2022, then grew by 14.84% to $734.1 million in 2023, then declined by 3.32% to $709.8 million in 2024, then increased by 15.78% to $821.8 million in 2025, then slipped by 18.83% to $667.0 million in 2026.
• The last three Operating Expenses figures came in at $667.0 million (Q1 2026), $821.8 million (Q4 2025), and $653.1 million (Q3 2025), per Business Quant data.