LAZARD INC (LAZ)
US52110M1099 - Common Stock
Overall LAZ gets a fundamental rating of 4 out of 10. We evaluated LAZ against 209 industry peers in the Capital Markets industry. While LAZ is still in line with the averages on profitability rating, there are concerns on its financial health. LAZ has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
LAZ had positive earnings in the past year.
In the past year LAZ had a positive cash flow from operations.
Of the past 5 years LAZ 4 years were profitable.
Each year in the past 5 years LAZ had a positive operating cash flow.
1.2 Ratios
The Return On Assets of LAZ (-1.72%) is worse than 89.37% of its industry peers.
LAZ has a worse Return On Equity (-18.87%) than 93.72% of its industry peers.
LAZ's Return On Invested Capital of 2.95% is on the low side compared to the rest of the industry. LAZ is outperformed by 65.70% of its industry peers.
LAZ had an Average Return On Invested Capital over the past 3 years of 7.39%. This is in line with the industry average of 8.35%.
The last Return On Invested Capital (2.95%) for LAZ is well below the 3 year average (7.39%), which needs to be investigated, but indicates that LAZ had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.72% | ||
| ROE | -18.87% | ||
| ROIC | 2.95% |
ROA(3y)3.85%
ROA(5y)4.64%
ROE(3y)32.54%
ROE(5y)37.47%
ROIC(3y)7.39%
ROIC(5y)7.62%
1.3 Margins
LAZ has a Operating Margin of 5.01%. This is amonst the worse of the industry: LAZ underperforms 80.68% of its industry peers.
In the last couple of years the Operating Margin of LAZ has declined.
The Gross Margin of LAZ (92.78%) is better than 92.27% of its industry peers.
In the last couple of years the Gross Margin of LAZ has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 5.01% | ||
| PM (TTM) | N/A | ||
| GM | 92.78% |
OM growth 3Y-35.81%
OM growth 5Y-26.21%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.1%
GM growth 5Y-0.13%
2. Health
2.1 Basic Checks
The number of shares outstanding for LAZ has been increased compared to 1 year ago.
LAZ has less shares outstanding than it did 5 years ago.
LAZ has a better debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 1.75, we must say that LAZ is in the distress zone and has some risk of bankruptcy.
LAZ has a Altman-Z score of 1.75. This is in the better half of the industry: LAZ outperforms 68.12% of its industry peers.
LAZ has a debt to FCF ratio of 16.32. This is a negative value and a sign of low solvency as LAZ would need 16.32 years to pay back of all of its debts.
LAZ has a Debt to FCF ratio (16.32) which is in line with its industry peers.
A Debt/Equity ratio of 5.25 is on the high side and indicates that LAZ has dependencies on debt financing.
LAZ has a worse Debt to Equity ratio (5.25) than 84.54% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.25 | ||
| Debt/FCF | 16.32 | ||
| Altman-Z | 1.75 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 1.14 indicates that LAZ should not have too much problems paying its short term obligations.
LAZ has a Current ratio (1.14) which is in line with its industry peers.
LAZ has a Quick Ratio of 1.14. This is a normal value and indicates that LAZ is financially healthy and should not expect problems in meeting its short term obligations.
LAZ has a Quick ratio (1.14) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.14 | ||
| Quick Ratio | 1.14 |
3. Growth
3.1 Past
LAZ shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -80.05%.
The Revenue has decreased by -8.55% in the past year.
The Revenue has been decreasing by -1.97% on average over the past years.
EPS 1Y (TTM)-80.05%
EPS 3YN/A
EPS 5YN/A
EPS growth Q2Q-4.35%
Revenue 1Y (TTM)-8.55%
Revenue growth 3Y-0.45%
Revenue growth 5Y-1.97%
Revenue growth Q2Q12.82%
3.2 Future
Based on estimates for the next years, LAZ will show a very strong growth in Earnings Per Share. The EPS will grow by 87.46% on average per year.
The Revenue is expected to grow by 13.58% on average over the next years. This is quite good.
EPS Next Y502.74%
EPS Next 2Y186.38%
EPS Next 3Y112.95%
EPS Next 5Y87.46%
Revenue Next Year22.35%
Revenue Next 2Y16.03%
Revenue Next 3Y13.58%
Revenue Next 5YN/A
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
LAZ is valuated quite expensively with a Price/Earnings ratio of 51.12.
Compared to the rest of the industry, the Price/Earnings ratio of LAZ indicates a rather expensive valuation: LAZ more expensive than 83.09% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 24.80, LAZ is valued quite expensively.
LAZ is valuated correctly with a Price/Forward Earnings ratio of 12.07.
LAZ's Price/Forward Earnings is on the same level as the industry average.
LAZ is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 21.27, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 51.12 | ||
| Fwd PE | 12.07 |
4.2 Price Multiples
LAZ's Enterprise Value to EBITDA ratio is in line with the industry average.
LAZ's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 31.28 | ||
| EV/EBITDA | 27.88 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as LAZ's earnings are expected to grow with 112.95% in the coming years.
PEG (NY)0.1
PEG (5Y)N/A
EPS Next 2Y186.38%
EPS Next 3Y112.95%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.05%, LAZ is a good candidate for dividend investing.
LAZ's Dividend Yield is comparable with the industry average which is at 7.52.
Compared to an average S&P500 Dividend Yield of 2.40, LAZ pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.05% |
5.2 History
The dividend of LAZ decreases each year by -6.19%.
LAZ has been paying a dividend for at least 10 years, so it has a reliable track record.
LAZ has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-6.19%
Div Incr Years2
Div Non Decr Years3
5.3 Sustainability
LAZ has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-216.46%
EPS Next 2Y186.38%
EPS Next 3Y112.95%
LAZARD INC
NYSE:LAZ (4/18/2024, 7:04:51 PM)
37.83
+0.39 (+1.04%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap4.27B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.05% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
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EPS beat(16)
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Revenue beat(2)
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PT rev (1m)
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EPS NQ rev (1m)
EPS NQ rev (3m)
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Revenue NQ rev (1m)
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Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 51.12 | ||
| Fwd PE | 12.07 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)0.1
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.72% | ||
| ROE | -18.87% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 5.01% | ||
| PM (TTM) | N/A | ||
| GM | 92.78% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.56
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 5.25 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.14 | ||
| Quick Ratio | 1.14 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-80.05%
EPS 3YN/A
EPS 5Y
EPS growth Q2Q
EPS Next Y502.74%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-8.55%
Revenue growth 3Y-0.45%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
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OCF growth 3Y
OCF growth 5Y