Company Valuation: Lazard

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,488 2,979 3,042 4,657 4,607 3,515 - -
Change - -33.64% 2.13% 53.1% -1.08% -23.71% - -
Enterprise Value (EV) 1 6,174 2,979 4,732 6,344 6,295 5,205 5,205 5,205
Change - -51.75% 58.87% 34.07% -0.77% -17.33% 0% 0%
P/E 9.42x 9.88x -38.7x 19.2x 22.4x 12.5x 9.6x 7.47x
PBR 4.51x 5.36x 7.31x 8.28x 5.22x 3.48x 2.52x 2.13x
PEG - -0.4x 0x -0x -1.2x 0.4x 0.3x 0.3x
Capitalization / Revenue 1.43x 1.08x 1.25x 1.61x 1.52x 1.06x 0.88x 0.82x
EV / Revenue 1.97x 1.08x 1.94x 2.2x 2.08x 1.56x 1.3x 1.21x
EV / EBITDA 7.1x 4.68x 22.7x 14.2x 13.5x 10.5x 7.5x 6.09x
EV / EBIT 7.43x 5.01x 28.6x 15.4x 14.6x 12x 7.19x 5.93x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.88 1.94 2 2 2 2 2.08 2.333
Rate of return 4.31% 5.6% 5.75% 3.89% 4.12% 5.54% 5.77% 6.47%
EPS 2 4.63 3.51 -0.9 2.68 2.17 2.876 3.759 4.825
Distribution rate 40.6% 55.3% -222% 74.6% 92.2% 69.5% 55.3% 48.4%
Net sales 1 3,139 2,769 2,440 2,890 3,030 3,332 4,002 4,307
EBITDA 1 869 636.4 208.4 447.2 466.3 493.4 693.5 855.1
EBIT 1 830.7 594 165.6 410.9 432.2 432.1 724.1 878
Net income 1 528.1 357.5 -75.48 279.9 236.8 307.2 401.8 534.2
Net Debt 1 1,685 - 1,690 1,687 1,688 1,690 1,690 1,690
Reference price 2 43.63 34.67 34.80 51.48 48.56 36.07 36.07 36.07
Nbr of stocks (in thousands) 102,874 85,915 87,415 90,470 94,878 97,451 - -
Announcement Date 03/02/22 02/02/23 01/02/24 30/01/25 29/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.32x5.52x11.8x2.16% 164B
13.71x3.37x - 2.57% 146B
15.75x7.18x - 1.59% 98.65B
18.64x6.58x11.94x4.6% 89.39B
24.21x7.78x11.44x0.87% 81.05B
21.05x11.27x18.06x4.49% 71.54B
13.09x5.13x - 1.99% 48.34B
10.77x1.59x4.92x1.36% 43.36B
Average 17.07x 6.05x 11.63x 2.45% 92.8B
Weighted average by Cap. 17.45x 5.99x 12.10x 2.48%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield