Lazard (LAZ) Operating Margin (2009 - 2026)
Lazard's Operating Margin came in at 4.53% for Q2 2026, down 6.86 percentage points from 11.39% a year earlier and down 6.96 percentage points from the prior quarter.
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Analysis
Lazard (LAZ) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Lazard reported Operating Margin of 9.28%, down 4.00 percentage points year-over-year; for FY2025, it was 10.28%, down 2.03 percentage points from FY2024.
- Operating Margin carries a five-year change of -8.69 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 12.31% in FY2024 (+15.39 pp), -3.08% in FY2023 (-21.19 pp), 18.10% in FY2022 (-4.01 pp) and 22.11% in FY2021 (+3.14 pp).
- The Q2 2026 figure represents the lowest quarterly Operating Margin since Q3 2023.
- Year-over-year, Operating Margin increased in five of the last eight quarters, with an average year-over-year change of +1.72 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in Q2 2024 (a gain of 25.61 percentage points), and the weakest in Q2 2023 (a drop of 35.67 percentage points).
- Business Quant data shows LAZ's Operating Margin at 11.49% (Q1 2026), 9.14% (Q4 2025) and 12.32% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 106.56 Bn | 94.66 Bn | - | 64.89% |
| 2 | Intercontinental Exchange | 89.45 Bn | 83.19 Bn | - | 38.52% |
| 3 | Robinhood Markets | 88.18 Bn | 69.22 Bn | - | - |
| 4 | Nasdaq | 53.47 Bn | 50.90 Bn | 1.50 Bn | 28.12% |
| 5 | Interactive Brokers | 37.14 Bn | 14.26 Bn | - | - |
| 6 | Cboe Global Markets | 33.00 Bn | 24.66 Bn | 731.60 Mn | 32.99% |
| 7 | LPL Financial Holdings | 25.71 Bn | 21.03 Bn | - | - |
| 8 | Tradeweb Markets | 25.33 Bn | 17.34 Bn | - | 43.88% |
| 9 | Circle Internet | 21.30 Bn | 15.18 Bn | 288.85 Mn | 4.90% |
| 10 | Lazard | 3.72 Bn | -1.04 Bn | - | 4.53% |
Historic Data
Download Data
Historic 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% |
API Access
Lazard Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=LAZ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "LAZ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=LAZ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();