Lazard (FRA:69Q) Total Operating Expense: €600 Mil (TTM As of Mar. 2026)


FRA:69Q Lazard Inc FRA:69Q
75 GF Score
Price €36.20
GF Value €38.72
Valuation Fairly Valued
! 3 Warning Signs
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What is Lazard Total Operating Expense?

Lazard FRA:69Q +2.26% 75 Total Operating Expense is €600 Mil as of Mar. 2026. GuruFocus rates FRA:69Q with a GF Score™ of 75/100 and a GF Value™ of €38.72 (Fairly Valued). The stock has 3 warning signs investors should review.

Lazard's Total Operating Expense for the three months ended in Mar. 2026 was €151 Mil. Lazard's Total Operating Expense for the trailing twelve months (TTM) ended in Mar. 2026 was €600 Mil.

Lazard Total Operating Expense Related Terms

Lazard Total Operating Expense Historical Data

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The historical data trend for Lazard's Total Operating Expense 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.

Lazard Total Operating Expense Chart

Lazard Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Total Operating Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only 507.41 566.66 595.53 632.36 585.73

Lazard Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Total Operating Expense 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 150.91 159.28 132.01 157.20 151.47
FRA:69Q
75GF Score
Lazard Inc FRA:69Q
Total Operating Expense is just one metric. See GF Score™, valuation, warning signs, and more.
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Lazard Total Operating Expense Calculation

Total Operating Expense is the primary recurring expense associated with central operations that are incurred in order to generate sales.


Total Operating Expense for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €600 Mil.

* 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.

What does a Total Operating Expense of €600 Mil mean?
Lazard (FRA:69Q) has a Total Operating Expense of €600 Mil as of Mar. 2026. Total operating expense is the primary recurring expense associated with central operations. View historical data on Lazard and its competitors.
Is Lazard's Total Operating Expense too high?
Lazard's current Total Operating Expense is €600 Mil. Overall, Lazard has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Lazard's Total Operating Expense compare to PJT and MKTX?
Lazard's Total Operating Expense of €600 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Total Operating Expense for a Capital Markets company?
A good Total Operating Expense depends on the Capital Markets industry context. However, Total Operating Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Total Operating Expense mean?
A high Total Operating Expense can signal that a stock is expensive relative to its fundamentals. Total operating expense is the primary recurring expense associated with central operations. View historical data on Lazard and its competitors. Lazard's current Total Operating Expense is €600 Mil. 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 (FRA:69Q) is currently considered Fairly Valued. The stock's GF Value™ is €38.72, compared to a current price of €36.20 — trading 6.5% below its estimated fair value. The current Total Operating Expense is €600 Mil. Lazard's overall GF Score™ is 75/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Total Operating Expense calculated?
Total Operating Expense is calculated from a company's financial statements. For Lazard (FRA:69Q), the current Total Operating Expense is €600 Mil 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 (FRA:69Q) Overvalued in 2026?

Based on GuruFocus' analysis, Lazard stock appears to be undervalued. The current stock price of €36.20 is trading 6.5% below its estimated GF Value™ of €38.72. GuruFocus considers Lazard to be Fairly Valued.

Key valuation signals for FRA:69Q:

  • Total Operating Expense: €600 Mil
  • GF Value™: €38.72 vs. price of €36.20 (6.5% below fair value)
  • GF Score™: 75/100 with 3 warning signs

No single metric tells the full story. See the FRA:69Q stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Lazard Business Description

Other Exchanges LAZ:USA0UB6:UK
Address 30 Rockefeller Plaza, New York, NY, USA, 10112
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.
75GF Score

Get the complete analysis for FRA:69Q

Total Operating Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€36.20
Price
€38.72
GF Value