LAZ
Market read
The latest filing is mixed. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
Invalidation: The isolated read changes if LAZ's group or a disclosed connection begins moving with it.
Research brief
The latest filing is mixed. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
Company research
For brokers and capital-markets platforms, the key question is how client activity, interest rates, customer balances, margin lending and market conditions translate into earnings and capital needs.
No qualifying supportive evidence was identified.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Total AUM at March 31, 2026 was $259 billion, an increase of $5 billion, or 2%, as compared to total AUM of $254 billion at December 31, 2025 primarily due to net inflows, partially offset by foreign exchange depreciation and the sale and deconsolidation of t…”10-Q · May 4, 2026 ↗
“Increased competition for professionals, changes in the macroeconomic environment or the financial markets generally, lower adjusted net revenue resulting from, for example, a decrease in M&A activity, our share of the M&A market or our AUM levels, changes in…”10-Q · May 4, 2026 ↗
“In the aggregate, interest income, other revenue and interest expense increased $49 million as compared to the 2025 period, primarily due to a non-cash gain of $78 million on the sale and deconsolidation of the Edgewater management vehicles in the 2026 period.”10-Q · May 4, 2026 ↗
Valuation discipline
Price/sales 1.4× · EV/sales 1.5×. Comparisons use only industry-matched filing peers.
Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for LAZ. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
10-Q filed 2026-05-04 against the comparable filing from 2025-05-01.
“In the aggregate, interest income, other revenue and interest expense increased $49 million as compared to the 2025 period, primarily due to a non-cash gain of $78 million on the sale and deconsolidation of the Edgewater management vehicles in the 2026 period.”
“Adjusted compensation and benefits expense increased $18 million, or 12%, as compared to the 2025 period primarily driven by increased adjusted net revenue.”
“Three Months Ended March 31, 2026 versus March 31, 2025 Corporate net revenue decreased $5 million, or 72%, as compared to the 2025 period, primarily due to lower gains in the 2026 period as compared to the 2025 period attributable to investments held in connection with LFI.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“Weideman was global General Counsel and a partner at Apollo Global Management, where he led and managed Apollo's legal, tax, and compliance team.”
“Compagnie Financière Lazard Frères SAS (“CFLF”), our French subsidiary under which asset management and commercial banking activities are carried out in France, is subject to regulation by the Autorité de Contrôle Prudentiel et de Résolution (“ACPR”) for its…”
Depended on by
“Our investment banking competitors can generally be categorized into two main groups: (1) large universal banks and bulge bracket firms such as Bank of America, Barclays, Citigroup, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS and (2)…”
Filing peers
Companies whose filings use similar operating language.
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What is moving around it
LAZ is currently a Early Follower in the organic co-movement group Investment Banks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.