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LAZ (Lazard) Degree of Operating Leverage : 60.85 (As of Mar. 2025)


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What is Lazard Degree of Operating Leverage?

Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. Lazard's Degree of Operating Leverage for the quarter that ended in Mar. 2025 was 60.85. The higher Degree of Operating Leverage, the higher operating risk the company will take.

The industry rank for Lazard's Degree of Operating Leverage or its related term are showing as below:

LAZ's Degree of Operating Leverage is ranked worse than
97.58% of 621 companies
in the Capital Markets industry
Industry Median: 0.75 vs LAZ: 60.85

Lazard Degree of Operating Leverage Historical Data

The historical data trend for Lazard's Degree of Operating Leverage can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Lazard Degree of Operating Leverage Chart

Lazard Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Degree of Operating Leverage
Get a 7-Day Free Trial Premium Member Only Premium Member Only -61.19 1.60 1.89 10.33 -995.20

Lazard Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Degree of Operating Leverage Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -17.86 10.52 -1,294.81 -995.20 60.85

Competitive Comparison of Lazard's Degree of Operating Leverage

For the Capital Markets subindustry, Lazard's Degree of Operating Leverage, along with its competitors' market caps and Degree of Operating Leverage data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Lazard's Degree of Operating Leverage Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Lazard's Degree of Operating Leverage distribution charts can be found below:

* The bar in red indicates where Lazard's Degree of Operating Leverage falls into.


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Lazard Degree of Operating Leverage Calculation

Lazard's Degree of Operating Leverage for the quarter that ended in Mar. 2025 is calculated as:

Degree of Operating Leverage=% Change in EBIT**/% Change in Revenue
=( 474.998 (Mar. 2025) / 90.454 (Mar. 2024) - 1 )/( 2969.792 (Mar. 2025) / 2775.846 (Mar. 2024) - 1 )
=4.2513/0.0699
=60.85***

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.


Lazard  (NYSE:LAZ) Degree of Operating Leverage Explanation

Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.

A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.

Be Aware

The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.


Lazard Degree of Operating Leverage Related Terms

Thank you for viewing the detailed overview of Lazard's Degree of Operating Leverage provided by GuruFocus.com. Please click on the following links to see related term pages.


Lazard Business Description

Traded in Other Exchanges
Address
30 Rockefeller Plaza, New York, NY, USA, 10112
Lazard Inc has a storied history that can be traced back to 1848. The company's revenue is fairly evenly split between financial advisory, such as acquisition and restructuring advisory, and asset management. The company's asset management business is primarily driven by equities (over 80% of assets under management), has an international focus, and targets institutional clients. By geography, the company earns approximately 60% of revenue in the Americas, 35% in EMEA, and 5% in Asia-Pacific. Lazard has offices across more than 20 countries and over 3,000 employees.
Executives
Peter Richard Orszag officer: CEO of Financial Advisory 30 ROCKEFELLER PLAZA, LAZARD, NEW YORK NY 10112
Evan L Russo officer: Chief Financial Officer C/O LAZARD LTD, 30 ROCKEFELLER PLAZA, NEW YORK NY 10112
Kenneth M Jacobs director, officer: Chairman and CEO C/O LAZARD LTD, 30 ROCKEFELLER PLAZA, NEW YORK NY 10020
Michael Gathy officer: Chief Accounting Officer C/O LAZARD LTD, 30 ROCKEFELLER PLAZA, NEW YORK NY 10112
Christian A. Weideman officer: General Counsel C/O APOLLO GLOBAL MANAGEMENT, INC., 9 WEST 57TH STREET, 43RD FLOOR, NEW YORK NY 10019
Alexander F. Stern officer: Chief Operating Officer C/O LAZARD LTD, 30 ROCKEFELLER PLAZA, NEW YORK NY 10020
Mary Ann Betsch officer: Chief Financial Officer C/O LAZARD LTD, 30 ROCKEFELLER PLAZA, NEW YORK NY 10112
Lewis William M Jr director 9 WEST 57TH STREET, NEW YORK NY 10019
Scott D Hoffman officer: General Counsel C/O LAZARD LLC, 30 ROCKEFELLER PLAZA, NEW YORK NY 10020
Dominick Ragone officer: Chief Accounting Officer 767 5TH AVENUE, SUITE 4700, NEW YORK NY 10153
Ann-kristin Achleitner director THE PRIESTLEY CENTRE, 10 PRIESTLEY RD, SURREY RESEARCH PARK, GUILDFORD, SURREY X0 GU2 7XY
Ashish Bhutani director, officer: CEO of Lazard Asset Management
Alexandra Soto officer: Exec Human Capital & Workplace C/O LAZARD LTD, 30 ROCKEFELLER PLAZA, NEW YORK NY 10112
Iris Knobloch director ONE TIME WARNER CENTER, NEW YORK NY 10019
Michelle Jarrard director C/O LAZARD LTD, 30 ROCKEFELLER PLAZA, NEW YORK NY 10112