LAZARD INC (LAZ) Stock Fundamental Analysis
NYSE:LAZ - US52110M1099 - Common Stock
57.44 USD
+0.68 (+1.2%)
57.44 USD
0 (0%)
We assign a fundamental rating of 6 out of 10 to LAZ. LAZ was compared to 238 industry peers in the Capital Markets industry. LAZ has only an average score on both its financial health and profitability. LAZ is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year LAZ was profitable.
LAZ had a positive operating cash flow in the past year.
Of the past 5 years LAZ 4 years were profitable.
LAZ had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With an excellent Return On Assets value of 6.73%, LAZ belongs to the best of the industry, outperforming 81.93% of the companies in the same industry.
LAZ has a Return On Equity of 40.79%. This is amongst the best in the industry. LAZ outperforms 97.48% of its industry peers.
LAZ's Return On Invested Capital of 8.61% is amongst the best of the industry. LAZ outperforms 84.03% of its industry peers.
The Average Return On Invested Capital over the past 3 years for LAZ is in line with the industry average of 7.60%.
The last Return On Invested Capital (8.61%) for LAZ is above the 3 year average (6.49%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.73% | ||
| ROE | 40.79% | ||
| ROIC | 8.61% |
ROA(3y)3.33%
ROA(5y)4.77%
ROE(3y)29.09%
ROE(5y)36.77%
ROIC(3y)6.49%
ROIC(5y)7.55%
1.3 Margins
Looking at the Profit Margin, with a value of 9.66%, LAZ is doing worse than 60.08% of the companies in the same industry.
In the last couple of years the Profit Margin of LAZ has declined.
The Operating Margin of LAZ (13.28%) is worse than 66.81% of its industry peers.
LAZ's Operating Margin has declined in the last couple of years.
Looking at the Gross Margin, with a value of 93.70%, LAZ belongs to the top of the industry, outperforming 94.54% of the companies in the same industry.
LAZ's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 13.28% | ||
| PM (TTM) | 9.66% | ||
| GM | 93.7% |
OM growth 3Y-20.51%
OM growth 5Y-6.29%
PM growth 3Y-17.15%
PM growth 5Y-3.2%
GM growth 3Y0%
GM growth 5Y0.18%
2. Health
2.1 Basic Checks
Compared to 1 year ago, LAZ has more shares outstanding
The number of shares outstanding for LAZ has been reduced compared to 5 years ago.
The debt/assets ratio for LAZ has been reduced compared to a year ago.
2.2 Solvency
LAZ has an Altman-Z score of 2.49. This is not the best score and indicates that LAZ is in the grey zone with still only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.49, LAZ is doing good in the industry, outperforming 74.79% of the companies in the same industry.
LAZ has a debt to FCF ratio of 5.05. This is a neutral value as LAZ would need 5.05 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 5.05, LAZ is in the better half of the industry, outperforming 67.65% of the companies in the same industry.
A Debt/Equity ratio of 2.94 is on the high side and indicates that LAZ has dependencies on debt financing.
LAZ has a worse Debt to Equity ratio (2.94) than 81.93% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.94 | ||
| Debt/FCF | 5.05 | ||
| Altman-Z | 2.49 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
LAZ has a Current Ratio of 1.50. 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 better Current ratio (1.50) than 64.71% of its industry peers.
LAZ has a Quick Ratio of 1.50. 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 of 1.50. This is in the better half of the industry: LAZ outperforms 64.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.5 | ||
| Quick Ratio | 1.5 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 15.46% over the past year.
The Earnings Per Share has been decreasing by -6.47% on average over the past years.
LAZ shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.76%.
LAZ shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.56% yearly.
EPS 1Y (TTM)15.46%
EPS 3Y-22.62%
EPS 5Y-6.47%
EPS Q2Q%0%
Revenue 1Y (TTM)8.76%
Revenue growth 3Y-2.59%
Revenue growth 5Y2.56%
Sales Q2Q%12.45%
3.2 Future
The Earnings Per Share is expected to grow by 30.08% on average over the next years. This is a very strong growth
LAZ is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 11.61% yearly.
EPS Next Y10.11%
EPS Next 2Y33.09%
EPS Next 3Y30.08%
EPS Next 5YN/A
Revenue Next Year7.03%
Revenue Next 2Y11.24%
Revenue Next 3Y11.61%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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 25.64.
Based on the Price/Earnings ratio, LAZ is valued a bit more expensive than the industry average as 63.03% of the companies are valued more cheaply.
LAZ's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.08.
The Price/Forward Earnings ratio is 13.86, which indicates a correct valuation of LAZ.
Compared to the rest of the industry, the Price/Forward Earnings ratio of LAZ is on the same level as its industry peers.
When comparing the Price/Forward Earnings ratio of LAZ to the average of the S&P500 Index (22.67), we can say LAZ is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.64 | ||
| Fwd PE | 13.86 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, LAZ is valued cheaply inside the industry as 84.45% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of LAZ indicates a somewhat cheap valuation: LAZ is cheaper than 68.07% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.58 | ||
| EV/EBITDA | 13.11 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of LAZ may justify a higher PE ratio.
LAZ's earnings are expected to grow with 30.08% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.54
PEG (5Y)N/A
EPS Next 2Y33.09%
EPS Next 3Y30.08%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.76%, LAZ has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 7.99, LAZ has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.34, LAZ pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.76% |
5.2 History
The dividend of LAZ decreases each year by -2.47%.
LAZ has paid a dividend for at least 10 years, which is a reliable track record.
LAZ has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-2.47%
Div Incr Years0
Div Non Decr Years11
5.3 Sustainability
60.26% of the earnings are spent on dividend by LAZ. This is not a sustainable payout ratio.
DP60.26%
EPS Next 2Y33.09%
EPS Next 3Y30.08%
57.44
+0.68 (+1.2%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners95.22%
Inst Owner Change-10.18%
Ins Owners1.32%
Ins Owner Change4.79%
Market Cap5.42B
Analysts69.23
Price Target54.35 (-5.38%)
Short Float %4.5%
Short Ratio4.32
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.76% |
Yearly Dividend2.01
Dividend Growth(5Y)-2.47%
DP60.26%
Div Incr Years0
Div Non Decr Years11
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)37.98%
Min EPS beat(2)29.47%
Max EPS beat(2)46.49%
EPS beat(4)3
Avg EPS beat(4)27.7%
Min EPS beat(4)-4.93%
Max EPS beat(4)46.49%
EPS beat(8)6
Avg EPS beat(8)26.26%
EPS beat(12)8
Avg EPS beat(12)12.79%
EPS beat(16)12
Avg EPS beat(16)13.29%
Revenue beat(2)1
Avg Revenue beat(2)3.68%
Min Revenue beat(2)-4.17%
Max Revenue beat(2)11.53%
Revenue beat(4)2
Avg Revenue beat(4)2.59%
Min Revenue beat(4)-4.17%
Max Revenue beat(4)11.53%
Revenue beat(8)5
Avg Revenue beat(8)3.71%
Revenue beat(12)8
Avg Revenue beat(12)4.61%
Revenue beat(16)11
Avg Revenue beat(16)4.7%
PT rev (1m)3.61%
PT rev (3m)28.18%
EPS NQ rev (1m)-6.36%
EPS NQ rev (3m)-47.14%
EPS NY rev (1m)12.65%
EPS NY rev (3m)14.1%
Revenue NQ rev (1m)0.58%
Revenue NQ rev (3m)-6.51%
Revenue NY rev (1m)3.48%
Revenue NY rev (3m)4.26%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.64 | ||
| Fwd PE | 13.86 | ||
| P/S | 1.73 | ||
| P/FCF | 12.58 | ||
| P/OCF | 11.09 | ||
| P/B | 7.31 | ||
| P/tB | 15.65 | ||
| EV/EBITDA | 13.11 |
EPS(TTM)2.24
EY3.9%
EPS(NY)4.14
Fwd EY7.22%
FCF(TTM)4.57
FCFY7.95%
OCF(TTM)5.18
OCFY9.02%
SpS33.2
BVpS7.86
TBVpS3.67
PEG (NY)2.54
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.73% | ||
| ROE | 40.79% | ||
| ROCE | 13.09% | ||
| ROIC | 8.61% | ||
| ROICexc | 13.03% | ||
| ROICexgc | 18.97% | ||
| OM | 13.28% | ||
| PM (TTM) | 9.66% | ||
| GM | 93.7% | ||
| FCFM | 13.75% |
ROA(3y)3.33%
ROA(5y)4.77%
ROE(3y)29.09%
ROE(5y)36.77%
ROIC(3y)6.49%
ROIC(5y)7.55%
ROICexc(3y)12%
ROICexc(5y)15.18%
ROICexgc(3y)16.01%
ROICexgc(5y)19.68%
ROCE(3y)10.39%
ROCE(5y)12.97%
ROICexcg growth 3Y-5.07%
ROICexcg growth 5Y-1.07%
ROICexc growth 3Y-9.8%
ROICexc growth 5Y-2.23%
OM growth 3Y-20.51%
OM growth 5Y-6.29%
PM growth 3Y-17.15%
PM growth 5Y-3.2%
GM growth 3Y0%
GM growth 5Y0.18%
F-Score9
Asset Turnover0.7
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.94 | ||
| Debt/FCF | 5.05 | ||
| Debt/EBITDA | 4.83 | ||
| Cap/Depr | 166.06% | ||
| Cap/Sales | 1.85% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 108.36% | ||
| Profit Quality | 142.4% | ||
| Current Ratio | 1.5 | ||
| Quick Ratio | 1.5 | ||
| Altman-Z | 2.49 |
F-Score9
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)102.56%
Cap/Depr(5y)117.06%
Cap/Sales(3y)1.44%
Cap/Sales(5y)1.59%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)15.46%
EPS 3Y-22.62%
EPS 5Y-6.47%
EPS Q2Q%0%
EPS Next Y10.11%
EPS Next 2Y33.09%
EPS Next 3Y30.08%
EPS Next 5YN/A
Revenue 1Y (TTM)8.76%
Revenue growth 3Y-2.59%
Revenue growth 5Y2.56%
Sales Q2Q%12.45%
Revenue Next Year7.03%
Revenue Next 2Y11.24%
Revenue Next 3Y11.61%
Revenue Next 5YN/A
EBIT growth 1Y51.47%
EBIT growth 3Y-22.57%
EBIT growth 5Y-3.9%
EBIT Next Year11.28%
EBIT Next 3Y30.09%
EBIT Next 5YN/A
FCF growth 1Y-13.27%
FCF growth 3Y-5.5%
FCF growth 5Y1.88%
OCF growth 1Y-9.24%
OCF growth 3Y-4.99%
OCF growth 5Y1.84%