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Lazard vs StepStone Group: LAZ and STEP compared
Lazard is the larger company: $836M of revenue in its latest quarter (Q3 2026) against $773M for StepStone Group (Q2 FY27). StepStone Group is growing faster (+70% against +8% a year earlier). Lazard is more profitable, with an operating margin of 6.5% against 6.2%.
Where the money goes: LAZ and STEP
Lazard (LAZ) · Q3 2026
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.
StepStone Group (STEP) · Q2 FY27
StepStone Group, Q2 FY27: revenue $773M (+70% year over year), operating margin 6.2%, net earnings $65.4M. The chart follows the revenue to costs, profit and cash.
| Lazard (LAZ) | StepStone Group (STEP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 FY27 |
| Revenue | $836M | $773M |
| Revenue growth, Y/Y | +8% | +70% |
| Operating margin | 6.5% | 6.2% |
| Net earnings | $29.2M | $65.4M |
| Net margin | 3.5% | 8.5% |
| Operating cash flow | $316M | — |
| Free cash flow | $311M | — |
| Market value | $4.1B | $3.9B |
| P/E | 23.4× | — |
| Analysts’ mean target | $43.00 | $64.60 |
Questions
Which is bigger, Lazard or StepStone Group?
Lazard is the larger company: $836M of revenue in its latest quarter (Q3 2026) against $773M for StepStone Group (Q2 FY27).
Is Lazard or StepStone Group growing faster?
StepStone Group is growing faster (+70% against +8% a year earlier).
Which is more profitable, Lazard or StepStone Group?
Lazard is more profitable, with an operating margin of 6.5% against 6.2%.
More: Lazard earnings · how Lazard makes money · StepStone Group earnings · how StepStone Group makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 26, 2026; 8-K filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.