Lazard Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Lazard Inc (LAZ) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Lazard Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 3,375M vs 339,521M combined for its competitors (1.0% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (-0.9% annualized vs trailing 12 months), vs accelerating (+3.0%) for its tracked peer group.
- Growth: Lazard Inc generated 8.5% revenue growth year over year in Q3 2026, vs 8.9% for its competitors combined.
- Profitability: Its 3.5% net margin compares with 23.2% for the peer group.
- Scale: Lazard Inc ranks #50 of 90 companies by market capitalization in the Investment Services industry, holding 0.2% of industry market cap.
- Peer revenue share: Lazard Inc accounted for 1.0% of combined revenue among its tracked peer group, up from 1.0% a year earlier.
- Peer differentiation: Revenue per employee of $1.02M compares with $0.75M for the peer group (1.4x).
- Structure: Lazard Inc operates in the following segments: Financial Advisory, Asset Management, Corporate.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
LAZ Sales vs. its Competitors, Q3 2026
Lazard Inc reported revenue growth of 8.51 % year on year in Q3 2026, below its competitors' combined revenue growth of 8.93 %.
With a net margin of 3.49 %, Lazard Inc reported lower profitability than its competitors (23.18 %).
Lazard Inc generated 0.95 % of the combined sales of its peer group, up from 0.95 % a year earlier.
Lazard Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Lazard Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Lazard Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Lazard Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (3) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Lazard Inc's competitor groups requires a Commercial License.
For context: the Investment Services industry grew revenue -0.9% year over year, combined, vs 8.5% for Lazard Inc. Lazard Inc's share of combined industry revenue moved from 0.30% to 0.33%, a gain of 0.03 percentage points.
Lazard Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Lazard Inc | Yes | Yes | No | No |
| Competitors combined (88) | ||||
| High-Confidence Competitors (4) | ||||
| Similar-Size Competitors (10) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
LAZ Stock Performance relative to its Competitors
LAZ Stock Performance relative to High-Confidence Competitors
LAZ Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Wisdomtree Inc | 282.9% | Outperformed |
| 2 | The Bank Of New York Mellon Corporation | 282.9% | Outperformed |
| 3 | First Internet Bancorp | 282.9% | Outperformed |
| 4 | Popular Inc | 282.9% | Outperformed |
| 5 | S and t Bancorp Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Lazard Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Lazard Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Lazard Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Lazard Inc |
4,114.37 | 3,375.35 |
 Jpmorgan Chase and Co |
908,053.17 | 186,328.00 |
 Bank Of America Corporation |
361,182.22 | 122,968.00 |
 Morgan Stanley |
289,166.70 | 68,350.00 |
 The Goldman Sachs Group Inc |
272,748.30 | 52,259.00 |
 Wells Fargo and Company |
254,495.10 | 85,055.00 |
| SUBTOTAL | 3,588,524.01 | 1,283,899.05 |
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Sources: Lazard Inc's official press releases and company reports; CSIMarket.com's market research; and the company reports and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Lazard Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Lazard Inc's Competitors Named by the Company
Competitive relationships identified from Lazard Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Evercore Inc | Company report | 85% |
| Houlihan Lokey Inc | Company report | 85% |
| Perella Weinberg Partners | Company report | 85% |
| Moelis and Co | Company report | 85% |
| The Edgewater Funds | Company report | 85% |
| Financial Institutions Inc | Company report | 85% |
| Invesco Ltd | Company report | 85% |
| Morgan Stanley | Company report | 85% |
| Gamco Investors Inc. Et Al | Company report | 85% |
| Voya Financial Inc | Company report | 85% |
| Pjt Partners Inc | Company report | 85% |
| Cowen inc | Company report | 85% |
| The Goldman Sachs Group Inc | Company report | 85% |
| Westwood Holdings Group Inc | Company report | 85% |
| Credit Suisse Group Ag | Company report | 85% |
| Stifel Financial Corp | Company report | 85% |
| Kkr and co inc | Company report | 85% |
| Carlyle Group Inc | Company report | 85% |
| Wisdomtree Inc | Company report | 85% |
| Diamond Hill Investment Group Inc | Company report | 85% |
| Blackstone Inc | Company report | 85% |
| Artisan Partners Asset Management Inc | Company report | 85% |
| Pzena Investment Management Inc | Company report | 85% |
| Bank Of America Corporation | Company report | 85% |
| Jpmorgan Chase and Co | Company report | 85% |
| Virtus Investment Partners Inc | Company report | 85% |
| Ares Management Corporation | Company report | 85% |
| Legg Mason Inc | Company report | 85% |
| Citigroup inc | Company report | 85% |
| Blackrock Inc | Company report | 85% |
| Alliancebernstein Holding L p | Company report | 85% |
| Franklin Resources Inc | Company report | 85% |
| Apollo Global Management Inc | Company report | 85% |
| Apollo Asset Management Inc. | Company report | 85% |
| Pnc Financial Services Group Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Lazard Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from Lazard Inc reports (named-competitor disclosures) and corroborating sources. Confidence reflects evidence strength.
Lazard Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Lazard Inc | Financial Advisory 56.02 % |
| Citigroup inc | Markets 29.42 % |
| Apollo Global Management Inc | Retirement Services 36.50 % |
| American International Group Inc | North America Operating 30.08 % |
| Prudential Financial Inc | Total Reconciling Items 1.88 % |
| The Hartford Insurance Group Inc | P&C Business Insurance 58.99 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Lazard Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Lazard Inc | 4,114 | 1,020,053 | 57,040 |
| Jpmorgan Chase and Co | 908,053 | 584,995 | 200,752 |
| Bank Of America Corporation | 361,182 | 577,315 | 150,793 |
| Morgan Stanley | 289,167 | 823,494 | 245,422 |
| The Goldman Sachs Group Inc | 272,748 | 1,102,511 | 442,468 |
| Wells Fargo and Company | 254,495 | 355,879 | 96,699 |
| PEERS TOTAL | 3,584,410 | 745,994 | 163,120 |
Lazard Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Blackrock Inc | Americas 64.41 % |
| Franklin Resources Inc | United States 72.53 % |
| Invesco Ltd | Americas 75.98 % |
| Stifel Financial Corp | Americas 55.21 % |
| Houlihan Lokey Inc | United States 69.51 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Lazard Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 88 companies in Lazard Inc's industry classification, broader than the peer set above. Market cap in millions of $.Lazard Inc ranks #50 of 88 companies by market capitalization in its industry, holding 0.18 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 591, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Morgan Stanley | 289,167 | 12.84 % |
| 2 | The Goldman Sachs Group Inc | 272,748 | 12.11 % |
| 3 | Blackrock Inc | 188,940 | 8.39 % |
| 4 | Schwab Charles Corp | 153,119 | 6.80 % |
| 5 | Futu Holdings Ltd | 1,234 | 5.2% |
| 6 | Cme Group Inc | 1,234 | 5.2% |
| 7 | Intercontinental Exchange Inc | 1,234 | 5.2% |
| 8 | Blackstone Inc | 1,234 | 5.2% |
| 9 | Kkr and co inc | 1,234 | 5.2% |
| 10 | Brookfield Asset Management Ltd | 1,234 | 5.2% |
| 50 | Lazard Inc | 4,117 | 0.18 % |
Market cap and industry share for the rest of Lazard Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-10-30.
Lazard Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 45 | Marex Group Plc | 4,903 | 108.44 % |
| 46 | Virtu Financial inc | 4,710 | 53.75 % |
| 47 | Moelis and Co | 4,657 | -12.81 % |
| 48 | Piper Sandler Companies | 4,546 | -20.64 % |
| 49 | Federated Hermes Inc | 1,234 | 12.3% |
| 50 | Lazard Inc | 4,117 | -19.70 % |
| 51 | Cohen and Steers Inc | 1,234 | 12.3% |
| 52 | Miami International Holdings Inc | 1,234 | 12.3% |
| 53 | Stepstone Group Inc | 1,234 | 12.3% |
| 54 | Hamilton Lane Incorporated | 1,234 | 12.3% |
| 55 | Alliancebernstein Holding L p | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Lazard Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-10-30. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Lazard Inc's Valuation vs Competitive Position
Valuation multiples vs the Investment Services industry average (94 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Investment Services industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 25.3x | 31.8x | -6.5x |
| EV / EBITDA | 15.1x | 14.4x | +0.7x |
| P/B | 4.9x | 3.8x | +1.1x |
| Return on Equity | 0.20 % | industry aggregate | -16.46 % |
| Return on Invested Capital | - | 7.26 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Lazard Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 6.93 % | -7.55 % | -0.76 % | 23.69 % | -12.79 % | -9.17 % | 21.08 % | 1.48 % |
| Operating Margin | -0.70 % | 17.99 % | 25.42 % | 62.70 % | 15.49 % | 21.72 % | 33.50 % | 34.81 % |
| Return on Invested Capital | -0.46 % | 9.11 % | 14.55 % | 37.03 % | 7.30 % | 11.30 % | 19.97 % | 21.77 % |
| P/E | 9.4x | 16.4x | 11.5x | 9.6x | 10.6x | - | 19.5x | 22.9x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Lazard Inc's BCG Growth-Share Matrix
Relative market share (vs Lazard Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Lazard Inc falls in the Question Mark quadrant: relative market share of 0.01x vs its largest competitor, in an industry growing revenue 10.3% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Lazard Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 591 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.45 % vs industry average 3.82 % (see Profitability & Cost Structure above) |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments. Supplier power and buyer power are not assessed here -- see Lazard Inc's dedicated Suppliers and Customers pages for concentration data; threat of substitutes has no systematic data source in this system and is not estimated.
Lazard Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Lazard Inc falls in the Medium attractiveness / Low strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Lazard Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
No rule matched.
Weaknesses
- Return on equity 16.5 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.01x).
Opportunities
- Industry revenue growing at a healthy 10.3% median pace.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Lazard Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Lazard Inc | 0.53 | 1.03 | 1.86 |
| Jpmorgan Chase and Co | 0.17 | 0.42 | 1.40 |
| Bank Of America Corporation | 0.10 | 0.52 | 1.27 |
| Morgan Stanley | 0.40 | 1.12 | 3.16 |
| The Goldman Sachs Group Inc | 0.50 | 0.79 | 3.11 |
| Wells Fargo and Company | 0.11 | 0.80 | 1.16 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Lazard Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Lazard Inc | Q3 2026 | +8.5 % | -60.3 % |
| Jpmorgan Chase and Co | Q2 2026 | +30.4 % | +44.0 % |
| Bank Of America Corporation | Q3 2026 | +3.2 % | -16.8 % |
| Morgan Stanley | Q2 2026 | -30.6 % | +58.1 % |
| The Goldman Sachs Group Inc | Q2 2026 | -65.3 % | +78.0 % |
| Wells Fargo and Company | Q3 2026 | +5.4 % | +6.9 % |
| PEERS TOTAL | +10.0 % | +29.2 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Lazard Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Lazard Inc | Q3 2026 | - | +97.2 % |
| Jpmorgan Chase and Co | Q2 2026 | -6.4 % | - |
| Bank Of America Corporation | Q3 2026 | - | - |
| Morgan Stanley | Q2 2026 | - | +7.3 % |
| The Goldman Sachs Group Inc | Q2 2026 | -73.4 % | +5.5 % |
| Wells Fargo and Company | Q3 2026 | +31.5 % | - |
Lazard Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Lazard Inc | 4.17% | 4.44% | 20.76% |
| Jpmorgan Chase and Co | 1.35% | 3.71% | 17.50% |
| Bank Of America Corporation | 0.93% | 1.11% | 10.69% |
| Morgan Stanley | 1.35% | 1.95% | 17.85% |
| The Goldman Sachs Group Inc | 1.07% | 1.86% | 16.95% |
| Wells Fargo and Company | 1.04% | 1.18% | 12.78% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Lazard Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Lazard Inc | 23.24 | 1.22 |
| Jpmorgan Chase and Co | 14.19 | 4.87 |
| Bank Of America Corporation | 11.94 | 2.94 |
| Morgan Stanley | 14.91 | 4.23 |
| The Goldman Sachs Group Inc | 13.85 | 5.22 |
| Wells Fargo and Company | 11.83 | 2.99 |
| PEERS AVERAGE | 12.81 | 2.80 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.