Lazard (LAZ) Operating Margin (2009 - 2026)
Lazard (LAZ) posted Operating Margin of 4.53% for Q2 2026, down 60.59% sequentially from 11.49% in Q1 2026, and down 686.0% YoY from 0.77% in Q2 2025.
Lazard (LAZ) Operating Margin (2009 - 2026) Analysis & Trends
Lazard has reported Operating Margin for 18 years, with the latest figure at 4.53% in Q2 2026.
- Quarterly Operating Margin fell 686.0% year-over-year to 4.53% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 9.28% (down 400.0% YoY) and the FY2025 annual result came in at 10.28%, down 203.0% from the prior year.
- Operating Margin fell to 4.53% in Q2 2026 per LAZ's latest filing, from 11.49% in the prior quarter.
- Over five years, Operating Margin peaked at 22.3% in Q1 2022 and troughed at 16.62% in Q2 2023.
- A 5-year average of 9.05% and a median of 9.57% in 2022 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2023 and 2024: Operating Margin tumbled 3567 bps in 2023, then surged 2561 bps in 2024.
- Over 5 years, Operating Margin stood at 9.99% in 2022, then dropped by 13 bps to 8.71% in 2023, then jumped by 47 bps to 12.76% in 2024, then declined by 28 bps to 9.14% in 2025, then plunged by 50 bps to 4.53% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 4.53%, 11.49%, and 9.14% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 333.21 Bn | 173.07 Bn | - | - |
| 2 | Goldman Sachs | 311.14 Bn | -665.21 Bn | - | - |
| 3 | Schwab Charles | 196.95 Bn | 123.36 Bn | - | - |
| 4 | Robinhood Markets | 93.19 Bn | 75.81 Bn | 1.20 Bn | 35.93% |
| 5 | Interactive Brokers | 41.71 Bn | -22.59 Bn | - | - |
| 6 | LPL Financial Holdings | 29.06 Bn | 26.36 Bn | - | - |
| 7 | Tradeweb Markets | 23.03 Bn | 20.97 Bn | - | 43.88% |
| 8 | Circle Internet | 21.70 Bn | 19.97 Bn | 288.85 Mn | 4.90% |
| 9 | Futu Holdings | 16.14 Bn | 214.18 Mn | 733.58 Mn | 64.41% |
| 10 | Lazard | 4.45 Bn | 3.35 Bn | - | 4.53% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 4.53% |
| Mar 31, 2026 | 11.49% |
| Dec 31, 2025 | 9.14% |
| Sep 30, 2025 | 12.32% |
| Jun 30, 2025 | 11.39% |
| Mar 31, 2025 | 8.16% |
| Dec 31, 2024 | 12.76% |
| Sep 30, 2024 | 19.96% |
| Jun 30, 2024 | 8.99% |
| Mar 31, 2024 | 6.95% |
| Dec 31, 2023 | 8.71% |
| Sep 30, 2023 | -0.89% |
| Jun 30, 2023 | -16.62% |
| Mar 31, 2023 | -6.57% |
| Dec 31, 2022 | 9.99% |
| Sep 30, 2022 | 21.19% |
| Jun 30, 2022 | 19.05% |
| Mar 31, 2022 | 22.30% |
| Dec 31, 2021 | 26.49% |
| Sep 30, 2021 | 21.00% |