Lazard annual debt-to-equity ratio
2009
2010
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2016
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2018
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2021
2022
2023
2024
2025
Lazard Debt-to-Equity Ratio Growth & History (LAZ)
Lazard's debt-to-equity ratio was 2.50 for fiscal 2025.
View full Lazard company overviewLazard annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 2.50 | −0.95 | −27.45% |
| 2024 | 2024-12-31 | 3.45 | −1.69 | −32.87% |
| 2023 | 2023-12-31 | 5.13 | 1.18 | +29.76% |
| 2022 | 2022-12-31 | 3.96 | 1.66 | +72.41% |
| 2021 | 2021-12-31 | 2.29 | −0.22 | −8.63% |
| 2020 · Dec 31 | 2020-12-31 | 2.51 | −1.30 | −34.08% |
| 2019 | 2019-12-31 | 3.81 | 2.25 | +143.54% |
| 2018 | 2018-12-31 | 1.56 | 0.57 | +57.67% |
| 2017 | 2017-12-31 | 0.99 | 0.02 | +2.55% |
| 2016 | 2016-12-31 | 0.97 | 0.21 | +27.28% |
| 2015 | 2015-12-31 | 0.76 | 0.74 | +4371.17% |
| 2014 | 2014-12-31 | 0.02 | −0.01 | −39.85% |
| 2013 | 2013-12-31 | 0.03 | −0.00 | −9.86% |
| 2012 | 2012-12-31 | 0.03 | 0.00 | +13.37% |
| 2011 | 2011-12-31 | 0.03 | −0.01 | −21.21% |
| 2010 | 2010-12-31 | 0.04 | −0.03 | −49.34% |
| 2009 | 2009-12-31 | 0.07 | — | — |
Lazard quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q1 2026 | 2026-03-31 | 2.45 | −1.18 | −32.52% |
| Q4 2025 | 2025-12-31 | 2.50 | −0.95 | −27.45% |
| Q3 2025 | 2025-09-30 | 2.61 | −1.19 | −31.33% |
| Q2 2025 | 2025-06-30 | 2.98 | −2.20 | −42.53% |
| Q1 2025 | 2025-03-31 | 3.63 | −2.27 | −38.45% |
| Q4 2024 | 2024-12-31 | 3.45 | −1.69 | −32.87% |
| Q3 2024 | 2024-09-30 | 3.80 | −2.23 | −37.01% |
| Q2 2024 | 2024-06-30 | 5.18 | −0.92 | −15.12% |
| Q1 2024 | 2024-03-31 | 5.90 | 1.04 | +21.26% |
| Q4 2023 | 2023-12-31 | 5.13 | 1.18 | +29.76% |
| Q3 2023 | 2023-09-30 | 6.04 | 2.13 | +54.62% |
| Q2 2023 | 2023-06-30 | 6.10 | 3.02 | +97.87% |
| Q1 2023 | 2023-03-31 | 4.87 | 2.25 | +86.16% |
| Q4 2022 | 2022-12-31 | 3.96 | 1.66 | +72.41% |
| Q3 2022 | 2022-09-30 | 3.91 | 1.35 | +53.06% |
| Q2 2022 | 2022-06-30 | 3.08 | 0.36 | +13.22% |
| Q1 2022 | 2022-03-31 | 2.62 | −0.35 | −11.68% |
| Q4 2021 | 2021-12-31 | 2.29 | −0.22 | −8.63% |
| Q3 2021 | 2021-09-30 | 2.55 | −0.75 | −22.75% |
| Q2 2021 | 2021-06-30 | 2.72 | −1.11 | −28.87% |
| Q1 2021 | 2021-03-31 | 2.96 | −1.78 | −37.48% |
| Q4 2020 · Dec 31 | 2020-12-31 | 2.51 | −1.30 | −34.08% |
| Q3 2020 | 2020-09-30 | 3.30 | −0.50 | −13.11% |
| Q2 2020 | 2020-06-30 | 3.83 | 0.22 | +6.06% |
| Q1 2020 | 2020-03-31 | 4.74 | 1.42 | +42.71% |
| Q4 2019 | 2019-12-31 | 3.81 | 2.25 | +143.54% |
| Q3 2019 | 2019-09-30 | 3.80 | 2.46 | +182.90% |
| Q2 2019 | 2019-06-30 | 3.61 | 2.48 | +219.69% |
| Q1 2019 | 2019-03-31 | 3.32 | 2.12 | +177.76% |
| Q4 2018 | 2018-12-31 | 1.56 | 0.57 | +57.67% |
| Q3 2018 | 2018-09-30 | 1.34 | 0.43 | +47.66% |
| Q2 2018 | 2018-06-30 | 1.13 | 0.17 | +17.98% |
| Q1 2018 | 2018-03-31 | 1.19 | 0.16 | +15.21% |
| Q4 2017 | 2017-12-31 | 0.99 | 0.02 | +2.55% |
| Q3 2017 | 2017-09-30 | 0.91 | 0.11 | +13.28% |
| Q2 2017 | 2017-06-30 | 0.96 | 0.09 | +9.85% |
| Q1 2017 | 2017-03-31 | 1.04 | 0.18 | +21.02% |
| Q4 2016 | 2016-12-31 | 0.97 | 0.21 | +27.28% |
| Q3 2016 | 2016-09-30 | 0.80 | 0.79 | +9475.89% |
| Q2 2016 | 2016-06-30 | 0.87 | 0.86 | +6895.75% |
| Q1 2016 | 2016-03-31 | 0.86 | 0.84 | +3881.32% |
| Q4 2015 | 2015-12-31 | 0.76 | 0.74 | +4371.17% |
| Q3 2015 | 2015-09-30 | 0.01 | −0.01 | −62.74% |
| Q2 2015 | 2015-06-30 | 0.01 | −0.02 | −57.14% |
| Q1 2015 | 2015-03-31 | 0.02 | −0.01 | −31.40% |
| Q4 2014 | 2014-12-31 | 0.02 | −0.01 | −39.85% |
| Q3 2014 | 2014-09-30 | 0.02 | −0.01 | −18.49% |
| Q2 2014 | 2014-06-30 | 0.03 | −0.00 | −6.89% |
| Q1 2014 | 2014-03-31 | 0.03 | −0.00 | −4.95% |
| Q4 2013 | 2013-12-31 | 0.03 | −0.00 | −9.86% |
| Q3 2013 | 2013-09-30 | 0.03 | 0.00 | +8.62% |
| Q2 2013 | 2013-06-30 | 0.03 | — | — |
| Q1 2013 | 2013-03-31 | 0.03 | — | — |
| Q4 2012 | 2012-12-31 | 0.03 | 0.00 | +13.37% |
| Q3 2012 | 2012-09-30 | 0.03 | −0.00 | −8.88% |
| Q4 2011 | 2011-12-31 | 0.03 | −0.01 | −21.21% |
| Q3 2011 | 2011-09-30 | 0.03 | −0.02 | −37.32% |
| Q2 2011 | 2011-06-30 | 0.03 | −0.01 | −30.57% |
| Q1 2011 | 2011-03-31 | 0.03 | — | — |
| Q4 2010 | 2010-12-31 | 0.04 | −0.03 | −49.34% |
| Q3 2010 | 2010-09-30 | 0.04 | — | — |
| Q2 2010 | 2010-06-30 | 0.05 | — | — |
| Q4 2009 | 2009-12-31 | 0.07 | — | — |
Lazard debt-to-equity ratio trends
Over the last five fiscal years, Lazard's debt-to-equity ratio decreased from 2.51 to 2.50, a change of −0.01. The latest reported quarter, Q1 2026, shows 2.45.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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