LazardLAZ +5.08%83 Pretax Margin % is 11.61% as of Mar. 2026, which is 38% below its 10-year median of 18.65. GuruFocus rates LAZ with a GF Score™ of 83/100 and a GF Value™ of $46.49 (Fairly Valued). The stock has 3 warning signs investors should review. Among 777 Capital Markets companies, Lazard ranks worse than 58.56% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Lazard's Pre-Tax Income for the
three
months ended in Mar. 2026 was $90 Mil. Lazard's Revenue for the
three
months ended in Mar. 2026 was $772 Mil. Therefore, Lazard's pretax margin for the quarter that ended in Mar. 2026 was 11.61%.
The historical rank and industry rank for Lazard's Pretax Margin % or its related term are showing as below:
LAZ'
s Pretax Margin % Range Over the Past 10 Years
Min: -3.13 Med: 18.65 Max: 30.68
Current: 11.11
LAZ's Pretax Margin % is ranked worse than 58.56% of 777
companies
in the Capital Markets industry
Industry Median: 20.36
vs LAZ: 11.11
Lazard (NYSE:LAZ) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Lazard Pretax Margin % Related Terms
Lazard Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Lazard's Pretax Margin % 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.
LAZ vs PJT, MKTX, CLSK: Pretax Margin % Comparison
For the Capital Markets subindustry, Lazard's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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 Pretax Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Lazard's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Lazard's Pretax Margin % falls into.
* 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.
Lazard (LAZ) has a Pretax Margin % of 11.61% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Lazard and its competitors. This is 38% below median its historical median of 18.65. According to the industry distribution chart, Lazard ranks #455 out of 777 companies in the Capital Markets industry, placing it in the top 58.6%.
Is Lazard's Pretax Margin % too high?
Lazard's current Pretax Margin % of 11.61% is 38% below median its 10-year median of 18.65. The Capital Markets industry median Pretax Margin % is 20.36. Lazard's value of 11.61% is 43% below this industry median. Based on the distribution chart, Lazard ranks #455 out of 777 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Lazard has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Lazard's Pretax Margin % compare to PJT and MKTX?
According to the Capital Markets industry distribution chart, Lazard ranks #455 out of 777 companies for Pretax Margin %. This places Lazard in the lower half of its industry. The industry median Pretax Margin % is 20.36. Lazard's value of 11.61% is 43% below this benchmark. While the company's 10-year median is 18.65 vs. the industry median of 20.36, Lazard has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for a Capital Markets company?
The median Pretax Margin % among Capital Markets companies is 20.36, based on 777 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lazard's current Pretax Margin % of 11.61% is 43% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Lazard and its competitors. For the Capital Markets industry, the median Pretax Margin % is 20.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lazard's current Pretax Margin % is 11.61%, which is 38% below median its own 10-year median of 18.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lazard stock overvalued right now?
Based on GuruFocus' analysis, Lazard (LAZ) is currently considered Fairly Valued. The stock's GF Value™ is $46.49, compared to a current price of $42.42 — trading 8.8% below its estimated fair value. The current Pretax Margin % is 11.61%, which is 38% below median its 10-year median of 18.65 and 43% below the Capital Markets industry median of 20.36. Lazard's overall GF Score™ is 83/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Lazard (LAZ), the current Pretax Margin % is 11.61% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lazard (LAZ) Overvalued in 2026?
Based on GuruFocus' analysis, Lazard stock appears to be undervalued.
The current stock price of $42.42 is trading 8.8% below its estimated GF Value™ of $46.49.
GuruFocus considers Lazard to be Fairly Valued.
Key valuation signals for LAZ:
Pretax Margin %: 11.61% (38% below median its 10-year median of 18.65)
GF Value™: $46.49 vs. price of $42.42 (8.8% below fair value)
Industry Position: 43% below the Capital Markets median (#455 of 777)
No single metric tells the full story. See the LAZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lazard Inc is a financial advisory and asset management firm with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. Geographically, the company earns key revenue in the Americas, EMEA then Asia-Pacific.
83GF Score
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