Lazard (Lazard) Debt-to-EBITDA

: 5.31 (As of Dec. 2023)

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Debt-to-EBITDA measures a company's ability to pay off its debt.

Lazard's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $0 Mil. Lazard's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $2,175 Mil. Lazard's annualized EBITDA for the quarter that ended in Dec. 2023 was $410 Mil. Lazard's annualized Debt-to-EBITDA for the quarter that ended in Dec. 2023 was 5.31.

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

The historical rank and industry rank for Lazard's Debt-to-EBITDA or its related term are showing as below:

LAZ' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.29 Med: 3.05 Max: 53.18
Current: 53.18

During the past 13 years, the highest Debt-to-EBITDA Ratio of Lazard was 53.18. The lowest was 1.29. And the median was 3.05.

LAZ's Debt-to-EBITDA is ranked worse than
98.08% of 416 companies
in the Capital Markets industry
Industry Median: 1.565 vs LAZ: 53.18

Lazard Debt-to-EBITDA Historical Data

The historical data trend for Lazard's Debt-to-EBITDA 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 Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Debt-to-EBITDA

4.40

3.70

2.66

3.44

53.18

Lazard Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Debt-to-EBITDA																5.34	-87.83	-6.84	21.81	5.31

Competitive Comparison

For the Capital Markets subindustry, Lazard's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 Debt-to-EBITDA Distribution

For the Capital Markets industry and Financial Services sector, Lazard's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where Lazard's Debt-to-EBITDA falls into.

Lazard Debt-to-EBITDA Calculation

Debt-to-EBITDA measures a company's ability to pay off its debt.

Lazard's Debt-to-EBITDA for the fiscal year that ended in Dec. 2023 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(0	+	2175.391)	/	40.903
	=	53.18

Lazard's annualized Debt-to-EBITDA for the quarter that ended in Dec. 2023 is calculated as

Debt-to-EBITDA	=	Total Debt			/	EBITDA
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	EBITDA
	=	(0	+	2175.391)	/	409.64
	=	5.31

In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data, the EBITDA data used here is four times the quarterly (Dec. 2023) EBITDA data.

Lazard (NYSE:LAZ) Debt-to-EBITDA Explanation

In the calculation of Debt-to-EBITDA, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by EBITDA. In some calculations, Total Liabilities is used to for calculation.

Be Aware

A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.

According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.

Lazard Debt-to-EBITDA Related Terms

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

Lazard (Lazard) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Lazard Inc (NYSE:LAZ) » Definitions » Debt-to-EBITDA

Comparable Companies

Traded in Other Exchanges

N/A

Address

2 Church Street, Clarendon House, Hamilton, BMU, HM11

Website

https://www.lazard.com

Lazard has a storied history that can be traced back to 1848. The company's revenue is nearly equally split between financial advisory, such as acquisition and restructuring advisory, and asset management. The company's asset management business is primarily equities (over 80% of assets under management), has an international focus, and is geared toward 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

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
Peter Richard Orszag	officer: CEO of Financial Advisory	30 ROCKEFELLER PLAZA, LAZARD, NEW YORK NY 10112
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
Evan L Russo	officer: Chief Financial Officer	C/O LAZARD LTD, 30 ROCKEFELLER PLAZA, NEW YORK NY 10112
Michelle Jarrard	director	C/O LAZARD LTD, 30 ROCKEFELLER PLAZA, NEW YORK NY 10112
Sylvia Jay	director	30 ROCKEFELLER PLAZA, NEW YORK NY 10020