Filing Flows › Lazard (LAZ) › Operating margin
Lazard (LAZ) operating margin by quarter
Lazard's operating margin was 6.5% in Q3 2026 (third quarter 2026), +2.0 pts from Q2 2026. Over the last 7 quarters it ranged from 4.5% (Q2 2026) to 12.3% (Q3 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 6.5% | +2.0 pts | -5.8 pts |
| Q2 2026 | 4.5% | -7.0 pts | -6.9 pts |
| Q1 2026 | 11.5% | +2.4 pts | +3.3 pts |
| Q4 2025 | 9.1% | -3.2 pts | — |
| Q3 2025 | 12.3% | +0.9 pts | — |
| Q2 2025 | 11.4% | +3.2 pts | — |
| Q1 2025 | 8.2% | — | — |
Q3 2026 at a glance
Lazard, Q3 2026: revenue $836M (+8% year over year), operating margin 6.5%, net earnings $29.2M, operating cash flow $316M. The chart follows the revenue to costs, profit and cash.
Questions
What is Lazard's operating margin?
Lazard's operating margin was 6.5% in Q3 2026 (third quarter 2026), +2.0 pts from Q2 2026.
How has Lazard's operating margin changed?
Over the last 7 quarters it ranged from 4.5% (Q2 2026) to 12.3% (Q3 2025).