Why Lazard (LAZ) Is Up 5.7% After Mixed 2025 Results And CFO Transition News

Lazard, Inc. has reported weaker full-year 2025 results, with net income falling to US$236.83 million and diluted EPS from continuing operations declining to US$2.17, alongside a quarterly dividfinish declaration of US$0.50 per share and continued share repurchases under its long-running purchaseback program.
Alongside the earnings release, Lazard named long-time insider Tracy Farr as its incoming CFO, a relocate that highlights the firm’s emphasis on capital structure expertise and internal succession as it aligns financial leadership with its long-term growth objectives.
We’ll now examine how the stronger-than-expected fourth quarter, underpinned by record advisory revenues, may influence Lazard’s broader investment narrative.

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What Is Lazard’s Investment Narrative?

For Lazard, you really have to believe in the durability of its advisory and asset management franchise, even as headline earnings remain lumpy. The latest numbers reveal weaker full-year 2025 profits, but a stronger-than-expected fourth quarter on the back of record advisory revenue reminds you how sensitive results are to deal activity and capital markets. In the near term, that momentum, toreceiveher with consistent US$0.50 quarterly dividfinishs and ongoing purchasebacks, will likely sit at the center of the bull case. The incoming CFO, Tracy Farr, is interesting here too, becautilize his capital structure background ties directly into Lazard’s core advisory engine and how the firm manages its own balance sheet. On the risk side, recent share price gains and a rich earnings multiple leave less room for disappointment if deal volumes or fundraising soften.

However, the same cyclicality that powered record advisory revenue can quickly work in reverse, which investors should understand.

Lazard’s shares have been on the rise but are still potentially undervalued by 38%. Find out what it’s worth.

Exploring Other Perspectives

Four fair value estimates from the Simply Wall St Community span roughly US$53 to just over US$91 per share, underlining how far apart individual views can be. Set against a quarter where record advisory revenue supported sentiment despite softer full-year earnings, this spread reveals why it pays to weigh differing expectations about how sustainable Lazard’s current deal and asset flows really are.

Explore 4 other fair value estimates on Lazard – why the stock might be worth 7% less than the current price!

Build Your Own Lazard Narrative

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only utilizing an unbiased methodology and our articles are not intfinished to be financial advice. It does not constitute a recommfinishation to purchase or sell any stock, and does not take account of your objectives, or your
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Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
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