Lazard annual free cash flow
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2025
Lazard Free Cash Flow (FCF) History (LAZ)
Lazard reported $487.4M in free cash flow for fiscal 2025, a decrease of 30.11% from the previous fiscal year, with a free cash flow margin of 15.30%.
View full Lazard company overviewLazard free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $487.4M | −$210.0M | −30.11% | +15.30% |
| 2024 | 2024-12-31 | $697.3M | $561.0M | +411.37% | +22.21% |
| 2023 | 2023-12-31 | $136.4M | −$648.1M | −82.62% | +5.26% |
| 2022 | 2022-12-31 | $784.5M | −$41.9M | −5.07% | +27.48% |
| 2021 | 2021-12-31 | $826.4M | $314.7M | +61.51% | +25.24% |
| 2020 | 2020-12-31 | $511.6M | −$123.6M | −19.45% | +19.33% |
| 2019 | 2019-12-31 | $635.2M | −$14.2M | −2.19% | +23.82% |
| 2018 | 2018-12-31 | $649.4M | −$352.0M | −35.15% | +22.51% |
| 2017 | 2017-12-31 | $1.00B | $407.6M | +68.64% | +37.12% |
| 2016 | 2016-12-31 | $593.9M | −$266.8M | −31.00% | +24.91% |
| 2015 | 2015-12-31 | $860.7M | $146.8M | +20.57% | +35.79% |
| 2014 | 2014-12-31 | $713.8M | $248.1M | +53.27% | +30.21% |
| 2013 | 2013-12-31 | $465.7M | $73.1M | +18.63% | +22.56% |
| 2012 | 2012-12-31 | $392.6M | $41.2M | +11.74% | +19.69% |
| 2011 | 2011-12-31 | $351.4M | $195.9M | +126.08% | +18.30% |
| 2010 | 2010-12-31 | $155.4M | −$77.4M | −33.26% | +7.76% |
| 2009 | 2009-12-31 | $232.9M | −$254.5M | −52.22% | +14.21% |
| 2008 | 2008-12-31 | $487.4M | — | — | +28.72% |
Lazard quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q1 2026 | 2026-03-31 | −$221.5M | $9.9M | — | −28.41% |
| Q4 2025 | 2025-12-31 | $396.1M | $48.1M | +13.83% | +42.62% |
| Q3 2025 | 2025-09-30 | $284.6M | $8.5M | +3.06% | +36.93% |
| Q2 2025 | 2025-06-30 | $38.0M | −$131.8M | −77.62% | +4.65% |
| Q1 2025 | 2025-03-31 | −$231.3M | −$134.7M | — | −34.57% |
| Q4 2024 | 2024-12-31 | $348.0M | $15.2M | +4.56% | +41.47% |
| Q3 2024 | 2024-09-30 | $276.2M | $250.2M | +963.24% | +34.20% |
| Q2 2024 | 2024-06-30 | $169.8M | −$23.8M | −12.30% | +23.98% |
| Q1 2024 | 2024-03-31 | −$96.6M | $319.4M | — | −12.30% |
| Q4 2023 | 2023-12-31 | $332.8M | $43.0M | +14.84% | +40.30% |
| Q3 2023 | 2023-09-30 | $26.0M | −$403.3M | −93.95% | +4.78% |
| Q2 2023 | 2023-06-30 | $193.6M | −$98.8M | −33.79% | +29.23% |
| Q1 2023 | 2023-03-31 | −$416.0M | −$189.0M | — | −74.04% |
| Q4 2022 | 2022-12-31 | $289.8M | −$148.6M | −33.90% | +39.60% |
| Q3 2022 | 2022-09-30 | $429.3M | $39.0M | +10.01% | +57.51% |
| Q2 2022 | 2022-06-30 | $292.4M | $163.9M | +127.50% | +44.27% |
| Q1 2022 | 2022-03-31 | −$227.0M | −$96.2M | — | −31.70% |
| Q4 2021 | 2021-12-31 | $438.4M | $148.0M | +50.95% | +43.29% |
| Q3 2021 | 2021-09-30 | $390.2M | $143.8M | +58.37% | +52.89% |
| Q2 2021 | 2021-06-30 | $128.5M | −$14.2M | −9.97% | +15.24% |
| Q1 2021 | 2021-03-31 | −$130.8M | $37.1M | — | −19.24% |
| Q4 2020 | 2020-12-31 | $290.4M | −$67.0M | −18.75% | +32.33% |
| Q3 2020 | 2020-09-30 | $246.4M | $33.2M | +15.55% | +41.20% |
| Q2 2020 | 2020-06-30 | $142.8M | −$88.8M | −38.35% | +24.11% |
| Q1 2020 | 2020-03-31 | −$168.0M | −$865,000 | — | −30.10% |
| Q4 2019 | 2019-12-31 | $357.5M | −$39.9M | −10.04% | +48.08% |
| Q3 2019 | 2019-09-30 | $213.2M | −$6.1M | −2.80% | +34.90% |
| Q2 2019 | 2019-06-30 | $231.6M | $144.0M | +164.41% | +35.59% |
| Q1 2019 | 2019-03-31 | −$167.1M | −$112.3M | — | −25.26% |
| Q4 2018 | 2018-12-31 | $397.3M | −$8.3M | −2.05% | +56.41% |
| Q3 2018 | 2018-09-30 | $219.4M | −$107.4M | −32.87% | +34.24% |
| Q2 2018 | 2018-06-30 | $87.6M | −$85.9M | −49.51% | +11.35% |
| Q1 2018 | 2018-03-31 | −$54.9M | −$150.3M | — | −7.14% |
| Q4 2017 | 2017-12-31 | $405.7M | $88.9M | +28.05% | +58.59% |
| Q3 2017 | 2017-09-30 | $326.8M | $56.9M | +21.08% | +51.21% |
| Q2 2017 | 2017-06-30 | $173.5M | $61.0M | +54.23% | +23.77% |
| Q1 2017 | 2017-03-31 | $95.5M | $200.8M | — | +14.98% |
| Q4 2016 | 2016-12-31 | $316.8M | −$43.0M | −11.94% | +44.88% |
| Q3 2016 | 2016-09-30 | $269.9M | −$33.1M | −10.94% | +43.46% |
| Q2 2016 | 2016-06-30 | $112.5M | −$54.5M | −32.62% | +20.58% |
| Q1 2016 | 2016-03-31 | −$105.3M | −$136.3M | — | −20.65% |
| Q4 2015 | 2015-12-31 | $359.8M | $47.2M | +15.09% | +59.47% |
| Q3 2015 | 2015-09-30 | $303.1M | $25.6M | +9.23% | +51.78% |
| Q2 2015 | 2015-06-30 | $167.0M | $93.8M | +128.20% | +26.90% |
| Q1 2015 | 2015-03-31 | $30.9M | −$19.7M | −38.97% | +5.21% |
| Q4 2014 | 2014-12-31 | $312.6M | −$39.6M | −11.25% | +48.14% |
| Q3 2014 | 2014-09-30 | $277.4M | $136.1M | +96.34% | +47.69% |
| Q2 2014 | 2014-06-30 | $73.2M | −$1.3M | −1.79% | +12.56% |
| Q1 2014 | 2014-03-31 | $50.7M | $152.9M | — | +9.22% |
| Q4 2013 | 2013-12-31 | $352.2M | $127.7M | +56.88% | +55.78% |
| Q3 2013 | 2013-09-30 | $141.3M | −$41.2M | −22.59% | +28.23% |
| Q2 2013 | 2013-06-30 | $74.5M | −$20.1M | −21.26% | +14.59% |
| Q1 2013 | 2013-03-31 | −$102.3M | $6.8M | — | −24.23% |
| Q4 2012 | 2012-12-31 | $224.5M | $137.5M | +157.99% | +38.65% |
| Q3 2012 | 2012-09-30 | $182.6M | −$72.6M | −28.45% | +40.62% |
| Q2 2012 | 2012-06-30 | $94.6M | $13.8M | +17.04% | +20.69% |
| Q1 2012 | 2012-03-31 | −$109.1M | −$37.4M | — | −21.53% |
| Q4 2011 | 2011-12-31 | $87.0M | −$31.8M | −26.78% | +18.39% |
| Q3 2011 | 2011-09-30 | $255.2M | $121.7M | +91.21% | +52.65% |
| Q2 2011 | 2011-06-30 | $80.8M | −$55.6M | −40.75% | +16.15% |
| Q1 2011 | 2011-03-31 | −$71.6M | $161.7M | — | −15.53% |
| Q4 2010 | 2010-12-31 | $118.9M | $48.3M | +68.42% | +19.21% |
| Q3 2010 | 2010-09-30 | $133.4M | — | — | +27.96% |
| Q2 2010 | 2010-06-30 | $136.4M | — | — | +30.78% |
| Q1 2010 | 2010-03-31 | −$233.3M | — | — | −50.30% |
| Q3 2009 | 2009-09-30 | $70.6M | — | — | +16.10% |
Lazard free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $511.6M to $487.4M, a compound annual decline of 0.97%. Lazard's latest reported quarter, Q1 2026, generated −$221.5M in free cash flow, an increase of $9.9M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Lazard filings at SEC.gov ↗