Lazard Ltd Financial Ratios — LAZ Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	81.82	37.99	82.49	127.45	124	34.3	22.87	46.27	23.96	32.31	36.95	22.07	-4.9	19.46	15.99
Return on Assets (%)	5.38	2.78	5.34	13.47	25.26	8.58	5.35	10.62	5.39	6.93	8.05	5.5	-1.44	5.94	4.87
Return on Capital (%)	15.18	9.58	15.99	32.29	- -	18.42	11.21	22.63	10.71	12.85	14.09	8.49	- -	9	7.65
Return on Invested Capital (%)	12.21	7.57	12.06	26.04	- -	15	9.34	19.75	11.79	13.27	15.25	10.81	- -	10.18	8.89
Gross Margin (%)	38.64	32.04	37.94	44.28	45	43.64	43.77	47.25	41.03	41.29	41.99	41.38	23.72	35.09	33.75
EBITDA Margin (%)	18.24	12	16.33	26.46	3.07	28.01	34.28	25.37	20.05	23.25	25.62	21.63	-0.06	14.81	13.05
Operating Margin (%)	16.33	10.03	14.15	24.73	1.46	25.13	32.76	24.73	17.97	21.85	24.45	20.13	-1.74	13.64	11.97
Incremental Operating Margin (%)	125.17	-134.47	127.79	97.97	-1,310.22	-2,673	90.81	-94.53	105.98	-999.21	35.39	52	- -	86.93	-71.68
Pretax Margin (%)	12.36	6.23	10.52	22.03	-0.69	21.76	30.68	23.71	14.81	19.01	22.15	18.29	-3.13	12.52	10.41
Profit Margin (%)	9.18	4.24	7.78	18.12	41.11	16.3	9.42	18.36	10.81	15.24	16.16	12.65	-2.96	9.07	7.52
Net Income to Common Margin (%)	9.18	4.24	7.78	18.12	41.11	16.3	9.42	18.36	10.81	15.24	16.16	12.65	-2.96	9.07	7.52
Effective Tax Rate (%)	19.08	25.1	23.84	16.44	- -	23.92	68.52	21.79	24.19	19.8	25.05	24.06	- -	25.81	23.38
Dvd Payout Ratio (%)	34.22	133.43	71.53	33.17	29.08	84.1	128.31	66.88	82.52	48.79	35.18	42.55	-442.25	60.99	70.35
Sustainable Growth Rate (%)	53.82	-12.7	23.48	85.17	87.93	5.45	-6.48	15.33	4.19	16.55	23.95	12.68	-26.56	7.59	4.74

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	1,097	1,095	1,064	1,060	998	1,189	1,190	1,434	2,324	2,290	2,238	2,201	2,175	2,193	2,173
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	1,097	1,095	1,064	1,060	998	1,189	1,190	1,434	2,324	2,290	2,238	2,201	2,175	2,193	2,173
Total Debt/EBITDA	3.16	4.59	3.16	1.7	13.55	1.78	1.29	1.97	4.37	3.73	2.67	3.6	-1,497.17	4.8	5.29
Net Debt/EBITDA	0.21	0.95	0.62	-0.03	-1.94	0.04	-0.32	0.26	0.84	0.48	0.26	0.74	-494.76	0.83	0.53
Total Debt/EBIT	3.53	5.49	3.65	1.82	28.47	1.99	1.35	2.02	4.88	3.97	2.8	3.87	-49.1	5.21	5.77
Net Debt/EBIT	0.23	1.14	0.71	-0.03	-4.07	0.05	-0.33	0.26	0.94	0.51	0.28	0.8	-16.23	0.9	0.58
EBITDA to Interest Expense	3.86	2.93	4.24	9.97	1.44	13.25	17.23	12.46	6.63	7.61	10.37	7.5	-0.02	5.19	4.69
EBITDA-CapEx/Interest Expense	3.34	1.83	3.47	9.62	0.92	12.48	16.72	11.61	6.1	6.82	9.88	6.89	-0.38	4.68	4.33
EBIT to Interest Expense	3.45	2.45	3.67	9.32	0.69	11.89	16.47	12.14	5.94	7.16	9.89	6.98	-0.57	4.78	4.3
Interest Expense	90	82	79	63	51	50	54	58	80	81	81	82	78	88	88
Common Equity/Total Assets	8.43	6.16	6.79	13.98	25.12	24.92	21.95	23.95	21.18	21.71	21.85	28.67	30.28	30.73	30.14
Long-Term Debt/Equity (%)	126.54	168.02	168.92	137.7	73.02	91.87	94.56	147.85	340.96	229.1	135.38	174.87	381.74	286.69	219.71
Long-Term Debt/Capital (%)	73.25	80.46	79.51	66.71	45.86	49.9	51.06	53.43	64.73	62.32	49.98	48.05	58.4	57.78	57.52
Long-Term Debt/Total Assets (%)	35.59	36.65	35.34	31.82	22.3	26.09	24.15	28.7	41.21	38.34	31.31	37.61	46.93	45.74	43.99
Total Debt/Equity (%)	126.54	168.02	168.92	137.7	73.02	91.87	94.56	147.85	340.96	229.1	135.38	174.87	381.74	286.69	219.71
Total Debt/Capital (%)	73.25	80.46	79.51	66.71	45.86	49.9	51.06	53.43	64.73	62.32	49.98	48.05	58.4	57.78	57.52
Total Debt/Total Assets (%)	35.59	36.65	35.34	31.82	22.3	26.09	24.15	28.7	41.21	38.34	31.31	37.61	46.93	45.74	43.99
Net Debt to Equity	8.43	34.79	32.84	-2.37	-10.44	2.3	-23.31	19.35	65.73	29.3	13.32	35.98	126.15	49.53	22.11
Net Debt/Capital (%)	14.8	44.41	41.62	-3.49	-13.66	2.44	-34.63	13.06	18.99	12.82	7.31	13.53	26.1	15.24	9.47
EBITDA	348	239	336	624	74	666	922	728	531	614	837	611	-1	457	411
EBITDA-CapEx	301	149	275	602	47	628	895	679	489	550	798	562	-30	412	379
Operating Income (Loss)	311	199	291	583	35	598	881	710	477	577	799	569	-44	421	377

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	2.34	2.12	2.02	2.14	1.17	1.27	1.49	1.25	1.26	1.38	1.31	1.29	1.15	1.76	1.85
Current Ratio	3.79	3.54	3.48	3.39	1.7	1.9	1.96	1.75	1.73	1.93	2.1	2.29	2.22	2.92	3.14
Quick Ratio	3.49	3.26	3.18	3.13	1.58	1.81	1.86	1.65	1.64	1.81	1.7	1.75	1.96	2.65	2.92
CFO/Avg Current Liab	1.44	0.88	0.98	1.3	0.94	0.5	0.72	0.41	0.37	0.31	0.43	0.45	0.13	0.77	0.58
Common Equity/Total Assets	8.43	6.16	6.79	13.98	25.12	24.92	21.95	23.95	21.18	21.71	21.85	28.67	30.28	30.73	30.14
Long-Term Debt/Equity (%)	126.54	168.02	168.92	137.7	73.02	91.87	94.56	147.85	340.96	229.1	135.38	174.87	381.74	286.69	219.71
Long-Term Debt/Capital (%)	73.25	80.46	79.51	66.71	45.86	49.9	51.06	53.43	64.73	62.32	49.98	48.05	58.4	57.78	57.52
Long-Term Debt/Total Assets (%)	35.59	36.65	35.34	31.82	22.3	26.09	24.15	28.7	41.21	38.34	31.31	37.61	46.93	45.74	43.99
Total Debt/Equity (%)	126.54	168.02	168.92	137.7	73.02	91.87	94.56	147.85	340.96	229.1	135.38	174.87	381.74	286.69	219.71
Total Debt/Capital (%)	73.25	80.46	79.51	66.71	45.86	49.9	51.06	53.43	64.73	62.32	49.98	48.05	58.4	57.78	57.52
Total Debt/Total Assets (%)	35.59	36.65	35.34	31.82	22.3	26.09	24.15	28.7	41.21	38.34	31.31	37.61	46.93	45.74	43.99
CFO/Total Liabilities	17.96	20.64	22.12	28.73	28.53	19.39	28.04	17.36	13.67	11.58	15.76	18.15	4.05	18.44	13.14
CFO/CapEx	8.57	5.4	8.64	33.18	33.32	16.33	37.19	14.1	15.86	8.96	21.82	16.84	5.82	16.33	16.26
Altman's Z-Score	2.75	2.65	3.23	3.66	2.34	2.69	3.02	2.5	1.97	2.05	2.12	2.16	1.84	2.67	2.64

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	7.84	4.23	4.3	4.44	4.55	4.19	4.45	4.57	3.93	3.76	4.22	3.87	3.61	4.07	3.81
Days Sales Outstanding	46.55	86.31	84.96	82.23	80.23	87.13	82.06	79.89	92.84	97.17	86.49	94.2	101.23	89.64	95.74
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	8.11	9.37	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	45.03	38.96	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	1.52	47.35	84.96	82.23	80.23	87.13	82.06	79.89	92.84	97.17	86.49	94.2	101.23	89.64	95.74
Inventory to Cash Days	46.55	86.31	84.96	82.23	80.23	87.13	82.06	79.89	92.84	97.17	86.49	94.2	101.23	89.64	95.74
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	3,082	3,490	5,477	6,121	5,643	5,127	6,383	4,393	4,403	4,520	4,626	3,317	3,097	4,795	4,734
- Cash & Cash Equivalents	1,004	850	841	1,067	1,132	1,159	1,484	1,247	1,232	1,390	1,465	1,235	971	1,308	1,469
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	141	82	70	63	54	58	59	53	72	88	678	702	146	129	115
+ Total Debt	1,097	1,095	1,064	1,060	998	1,189	1,190	1,434	2,324	2,290	2,238	2,201	2,175	2,193	2,173
Enterprise Value	3,030	3,524	5,525	5,971	5,173	4,795	5,213	3,627	4,386	4,373	4,729	4,206	4,228	5,539	5,386
Total Capital	1,498	1,361	1,338	1,590	2,177	2,382	2,331	2,684	3,590	3,674	4,477	4,582	3,725	3,794	3,778
Total Debt/Capital (%)	73.25	80.46	79.51	66.71	45.86	49.9	51.06	53.43	64.73	62.32	49.98	48.05	58.4	57.78	57.52
Total Debt / EV	0.36	0.31	0.19	0.18	0.19	0.25	0.23	0.4	0.53	0.52	0.47	0.52	0.51	0.4	0.4
EV/Sales	1.59	1.77	2.68	2.53	2.16	2.02	1.94	1.26	1.65	1.66	1.45	1.49	1.66	1.79	1.71
EV/EBITDA	8.72	14.77	16.43	9.57	70.21	7.2	5.65	4.98	8.25	7.12	5.65	6.88	- -	12.11	13.11
EV/EBIT	9.74	17.67	18.95	10.24	147.49	8.02	5.91	5.11	9.21	7.58	5.92	7.39	- -	13.16	14.3
EV/Cash Flow to Firm	6.44	6.49	9.41	7.57	- -	7.15	4.98	4.87	5.94	6.83	5.1	4.7	19.19	6.85	9.18
EV/Free Cash Flow to Firm	5.86	5.57	8.52	7.37	- -	6.76	4.86	4.57	5.61	6.2	4.89	4.45	17	6.49	8.71
Diluted Market Cap	3,594	3,859	6,061	6,695	5,997	5,450	6,955	4,790	4,639	4,800	4,960	3,502	3,097	5,271	5,164
Diluted Enterprise Value	3,827	4,185	6,353	6,752	5,917	5,538	6,721	5,031	5,802	5,788	6,410	5,171	4,447	6,284	5,983
EV per Share	25.67	30.13	45.71	48.8	41.26	38.43	42.88	30.47	39.81	40.92	44.6	43.97	47.5	59.47	55.25
TTM Sales	1,905	1,988	2,060	2,358	2,399	2,378	2,691	2,872	2,651	2,641	3,268	2,826	2,551	3,086	3,148
TTM EBITDA	348	239	336	624	74	666	922	728	531	614	837	611	-1	457	411
TTM Operating Income	311	199	291	583	35	598	881	710	477	577	799	569	-44	421	377
TTM Cash Flow to Firm	471	543	587	788	-2,169	671	1,046	745	739	641	927	896	220	808	586
TTM Free Cash Flow to Firm	517	632	648	810	-2,142	710	1,074	794	782	705	966	945	249	854	618

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	8.09	6.76	10.31	8.83	6.56	8.12	6.58	6.4	6.44	7.5	5.48	3.96	16.05	6.69	9.37
EV/EBIT	9.74	17.67	18.95	10.24	147.49	8.02	5.91	5.11	9.21	7.58	5.92	7.39	- -	13.16	14.3
Enterprise Value	3,030	3,524	5,525	5,971	5,173	4,795	5,213	3,627	4,386	4,373	4,729	4,206	4,228	5,539	5,386
Low Price	19.04	22.21	30.57	40.7	41.19	26.21	40.22	33.54	31.07	20.94	38.68	30.21	25.82	34.83	31.97
EV/Sales	1.59	1.77	2.68	2.53	2.16	2.02	1.94	1.26	1.65	1.66	1.45	1.49	1.66	1.79	1.71
EV/EBITDA	8.72	14.77	16.43	9.57	70.21	7.2	5.65	4.98	8.25	7.12	5.65	6.88	- -	12.11	13.11
Price/Earnings	17.62	41.39	34.19	14.33	5.72	13.22	25.17	8.33	15.37	11.23	8.76	9.28	- -	17.13	19.99
Price/Earnings Average	22.92	38.5	27.28	14.07	6.42	11.61	21.6	11.17	14.09	8.81	9.13	9.63	-38.73	14.83	20.12
Price/Earnings High	31.4	44.25	35.44	15.89	7.6	14.45	25.4	13.55	16.06	11.94	10.64	12.51	-51.22	20.34	23.9
Price/Earnings Low	12.85	30.81	23.06	11.65	5.24	8.43	19.28	7.57	11.95	5.56	7.77	8.08	-30.44	11.59	13.16
Price/Book Value	11.86	18.97	26.78	13.14	5.02	4.52	5.9	3.67	3.69	3.49	2.96	1.98	2.21	3.25	3.18
Price/Book Value Average	15.43	17.65	21.37	12.9	5.63	3.96	5.06	4.92	3.38	2.73	3.09	2.05	2.08	2.82	3.2
Price/Book Value High	21.14	20.28	27.76	14.57	6.67	4.93	5.95	5.97	3.85	3.7	3.6	2.66	2.75	3.87	3.8
Price/Book Value Low	8.65	14.12	18.06	10.69	4.59	2.88	4.52	3.33	2.87	1.73	2.63	1.72	1.64	2.2	2.09
Price/Tangible Book Value	6.51	13.49	20.58	14.48	5.42	5.62	7.36	7.39	14.3	7.35	3.63	3.76	17.7	12.92	7.97
Price/Tangible Book Value Average	8.46	12.54	16.43	14.22	6.09	4.94	6.31	9.9	13.11	5.76	3.79	3.91	16.71	11.18	8.02
Price/Tangible Book Value High	11.59	14.42	21.34	16.07	7.21	6.14	7.42	12.01	14.94	7.81	4.41	5.07	22.1	15.34	9.53
Price/Tangible Book Value Low	4.74	10.04	13.88	11.78	4.96	3.59	5.64	6.71	11.12	3.64	3.22	3.28	13.14	8.74	5.25
Price/Sales	1.62	1.76	2.66	2.6	2.35	2.16	2.37	1.53	1.66	1.71	1.42	1.17	1.21	1.55	1.5
Price/Sales Average	2.1	1.63	2.12	2.55	2.64	1.89	2.04	2.05	1.52	1.34	1.48	1.22	1.15	1.34	1.51
Price/Sales High	2.88	1.88	2.76	2.88	3.13	2.36	2.39	2.49	1.74	1.82	1.72	1.58	1.52	1.85	1.8
Price/Sales Low	1.18	1.31	1.79	2.11	2.15	1.37	1.82	1.39	1.29	0.85	1.25	1.02	0.9	1.05	0.99
Price/Cash Flow	7.75	7.24	10.4	8.32	6.36	8.1	6.2	6.28	6.49	7.85	5.34	3.98	18.81	6.45	9.11
Price/Cash Flow Average	10.08	6.73	8.3	8.17	7.14	7.12	5.32	8.42	5.96	6.15	5.57	4.13	17.76	5.59	9.18
Price/Cash Flow High	13.81	7.74	10.78	9.23	8.45	8.86	6.26	10.21	6.79	8.34	6.49	5.36	23.48	7.67	10.9
Price/Cash Flow Low	5.65	5.39	7.01	6.77	5.82	5.17	4.75	5.71	5.05	3.89	4.74	3.47	13.95	4.37	6
Price/Free Cash Flow Average	10.52	6.28	8.23	8.67	7.37	7.13	5.65	8.58	5.9	5.88	5.71	4.11	15.15	5.79	9.43
Price/Free Cash Flow High	14.42	7.22	10.69	9.8	8.72	8.87	6.64	10.4	6.73	7.97	6.65	5.34	20.03	7.94	11.2
Price/Free Cash Flow Low	5.9	5.03	6.96	7.18	6.01	5.18	5.04	5.81	5	3.71	4.85	3.45	11.91	4.52	6.17
EV/Sales Average	2.23	1.8	2.26	2.57	2.61	1.93	1.95	2.13	1.96	1.72	1.92	1.81	1.68	1.67	1.77
EV/Sales High	3.01	2.04	2.9	2.9	3.09	2.39	2.31	2.57	2.17	2.19	2.16	2.17	2.04	2.17	2.06
EV/Sales Low	1.3	1.47	1.94	2.14	2.12	1.41	1.73	1.47	1.73	1.22	1.7	1.61	1.43	1.38	1.25
EV/EBITDA Average	12.21	14.97	13.87	9.72	84.93	6.89	5.69	8.41	9.79	7.38	7.49	8.36	-2,941.35	11.29	13.59
EV/EBITDA High	16.48	17	17.75	10.98	100.7	8.54	6.73	10.13	10.85	9.43	8.44	10.05	-3,589.87	14.67	15.77
EV/EBITDA Low	7.14	12.25	11.85	8.07	69	5.04	5.05	5.81	8.63	5.25	6.63	7.46	-2,510.67	9.31	9.58
EV/EBIT Average	13.64	17.91	16	10.41	178.41	7.68	5.95	8.63	10.92	7.85	7.85	8.98	-96.46	12.27	14.82
EV/EBIT High	18.41	20.34	20.48	11.74	211.54	9.52	7.04	10.39	12.1	10.03	8.85	10.79	-117.73	15.93	17.2
EV/EBIT Low	7.98	14.66	13.68	8.64	144.95	5.62	5.28	5.96	9.63	5.59	6.95	8.01	-82.34	10.11	10.45
Last Price	26.11	29.84	45.32	50.03	45.01	41.09	52.5	36.91	39.96	42.3	43.63	34.67	34.8	51.48	48.56
High Price	46.54	31.9	46.98	55.5	59.82	44.9	52.98	60	41.76	44.95	53	46.74	43.44	61.14	58.07
Enterprise Value Average	4,243	3,572	4,664	6,067	6,258	4,590	5,244	6,129	5,202	4,532	6,274	5,112	4,274	5,163	5,585
Enterprise Value High	5,727	4,057	5,970	6,848	7,420	5,690	6,207	7,381	5,765	5,791	7,070	6,140	5,216	6,707	6,480
Enterprise Value Low	2,481	2,924	3,987	5,037	5,084	3,358	4,655	4,232	4,587	3,225	5,552	4,559	3,648	4,257	3,936

Shares Outstanding	120	115	121	122	126	122	119	112	104	105	101	86	87	90	94
Diluted Weighted Avg Shares	138	129	134	134	133	133	132	130	116	113	114	101	89	102	106
Basic Weighted Avg Shares	118	117	121	122	125	125	122	119	110	107	106	96	89	93	97
Revenue per Share	16.14	17	17.05	19.27	19.14	19.06	22.13	24.13	24.06	24.71	30.82	29.54	28.67	33.14	32.29
EBITDA per Share	2.94	2.04	2.78	5.1	0.59	5.34	7.59	6.12	4.82	5.75	7.9	6.39	-0.02	4.91	4.22
Operating Income per Share	2.64	1.71	2.41	4.77	0.28	4.79	7.25	5.97	4.32	5.4	7.54	5.95	-0.5	4.52	3.86
Basic EPS, GAAP	1.48	0.72	1.33	3.49	7.87	3.11	2.09	4.43	2.6	3.77	4.98	3.74	-0.85	3.01	2.43
Basic EPS from Cont Ops	1.61	0.79	1.37	3.55	7.92	3.16	2.14	4.47	2.7	3.77	5.12	4.1	-0.64	3.08	2.58
Diluted EPS, GAAP	1.27	0.65	1.2	3.19	7.4	2.92	1.91	4.06	2.47	3.55	4.65	3.54	-0.85	2.73	2.23
Diluted EPS from Cont Ops	1.38	0.72	1.23	3.24	7.45	2.97	1.96	4.1	2.56	3.55	4.77	3.89	-0.64	2.8	2.36
Dividend per Share	0.6	1.16	1.01	1.2	2.32	2.69	2.81	3.02	2.31	1.84	1.85	1.9	1.94	1.92	1.91
Cash Flow per Share	3.37	4.12	4.36	6.02	7.08	5.07	8.46	5.87	6.15	5.39	8.17	8.72	1.85	7.98	5.33
Free Cash Flow per Basic Share	2.98	3.36	3.85	5.83	6.87	4.76	8.24	5.46	5.76	4.79	7.79	8.2	1.53	7.49	5
Cash & Equivalents per Share	10.93	9.77	8.99	10.42	12.14	12.65	19.9	18.94	21.89	23.62	26.52	21.05	13.38	16.93	16.79
Book Value per Share	2.2	1.57	1.69	3.81	8.97	9.1	8.9	10.06	10.84	12.13	14.73	17.54	15.77	15.82	15.28
Tangible Book Value per Share	4.01	2.21	2.2	3.45	8.3	7.31	7.14	5	2.79	5.76	12.01	9.21	1.97	3.99	6.09

Lazard Ltd

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)