Lazard FY 2025 interest income, other revenue and interest expense falls 56% to USD 84M

Reuters02-24
Lazard FY 2025 interest income, other revenue and interest expense falls 56% to USD 84M

Lazard reported FY 2025 net revenue of USD 3.1 billion (+2%) and adjusted net revenue of USD 3.03 billion (+5%). Operating income was USD 327.6 million (-15%), while adjusted operating income was USD 432.15 million (+5%), representing 14.3% of adjusted net revenue. Net income attributable to shareholders was USD 236.83 million, and the effective tax rate was 23.4%. Compensation and benefits expense totaled USD 2.09 billion (+4%); adjusted compensation and benefits expense was USD 1.98 billion (+4%), equal to 65.5% of adjusted net revenue. By segment, Financial Advisory FY 2025 net revenue was USD 1.83 billion (+4%) and adjusted operating income was USD 441.25 million (+11%), with a 24.2% adjusted operating margin; Asset Management net revenue was USD 1.27 billion (+7%) and adjusted operating income was USD 269.29 million (+1%), with a 23.1% adjusted operating margin. Asset Management AUM was USD 254.3 billion at December 31, 2025 (+12%), and adjusted incentive fees were USD 59 million (up USD 16 million). Lazard said it completed the sale of a controlling stake in the Edgewater management vehicles on February 13, 2026 and will no longer consolidate Edgewater; Edgewater represented USD 1.5 billion of AUM at year-end 2025. The board declared a quarterly dividend of USD 0.50 per share payable February 20, 2026, and Lazard repurchased 1.9 million shares in FY 2025 at an average price of USD 47.97; USD 109 million of repurchase authorization remained available as of December 31, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Lazard Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001311370-26-000008), on February 23, 2026, and is solely responsible for the information contained therein.

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