← Scroll for more →
Lazard, Inc. (LAZ)
Investment Advice
Latest Price
$38.17
TTM P/E
23.27
Normalized P/E
18.14
TTM Div Yield
5.24%
Fwd Div Yield
5.24%
Book Value
8.58
P/B Ratio
4.45
Valuation metrics
adjust assumptions →EPS: $2.17
Book value / share: $9.30
Formula: √(22.5 × EPS × BVPS)
Graham Number
$21.31
43% downside
Norm. op. income: $393M (median of 7yr)
Tax rate: 23%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$29.71
21% downside
Base FCF: $697M (median of recent 5yr)
Growth: -10%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$41.18
+9% upside
EPS: $2.17
Target P/E: 18×
Formula: EPS × P/E
P/E Fair Value
$39.06
+4% upside
Institutional Ownership
100.0% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| FMR LLC | 11.15M | $467.0M | 11.33% | +540.5K | 2026-06-30 |
| BlackRock, Inc. | 9.04M | $379.0M | 9.18% | +1.46M | 2026-06-30 |
| Price T Rowe Associates Inc | 8.96M | $375.0M | 9.10% | -639.5K | 2026-06-30 |
| Vanguard Portfolio Management LLC | 6.14M | $257.0M | 6.23% | +1.18M | 2026-06-30 |
| Ariel Investments, LLC | 5.76M | $241.0M | 5.85% | -70.9K | 2026-06-30 |
| Vanguard Capital Management LLC | 5.02M | $210.0M | 5.10% | +58.2K | 2026-06-30 |
| State Street Corp | 3.63M | $152.0M | 3.69% | +1.75M | 2026-06-30 |
| Goldman Sachs Group Inc | 2.99M | $125.0M | 3.03% | +2.05M | 2026-06-30 |
| Geode Capital Management, LLC | 2.56M | $107.0M | 2.60% | +96.6K | 2026-06-30 |
| Capital Research Global Investors | 2.24M | $94.0M | 2.28% | -214.5K | 2026-06-30 |