Lazard (LTS:0UB6) Gross Margin % : 31.71% (As of Dec. 2023)

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What is Lazard Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Lazard's Gross Profit for the three months ended in Dec. 2023 was $260 Mil. Lazard's Revenue for the three months ended in Dec. 2023 was $819 Mil. Therefore, Lazard's Gross Margin % for the quarter that ended in Dec. 2023 was 31.71%.

Warning Sign:

Lazard Inc gross margin has been in long-term decline. The average rate of decline per year is -9.3%.

The historical rank and industry rank for Lazard's Gross Margin % or its related term are showing as below:

LTS:0UB6' s Gross Margin % Range Over the Past 10 Years
Min: 23.72 Med: 42.82 Max: 47.25
Current: 26.57

During the past 13 years, the highest Gross Margin % of Lazard was 47.25%. The lowest was 23.72%. And the median was 42.82%.

LTS:0UB6's Gross Margin % is ranked worse than
68.76% of 605 companies
in the Capital Markets industry
Industry Median: 48.91 vs LTS:0UB6: 26.57

Lazard had a gross margin of 31.71% for the quarter that ended in Dec. 2023 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for Lazard was -9.30% per year.

Lazard Gross Margin % Historical Data

The historical data trend for Lazard's Gross 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.

* Premium members only.

Lazard Gross Margin % Chart

Lazard Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

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41.03

41.29

41.99

41.38

23.72

Lazard Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Gross Margin %	Get a 7-Day Free Trial															18.08	12.15	31.42	31.71	29.87

Competitive Comparison of Lazard's Gross Margin %

For the Capital Markets subindustry, Lazard's Gross Margin %, along with its competitors' market caps and Gross 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's Gross Margin % Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Lazard's Gross Margin % distribution charts can be found below:

* The bar in red indicates where Lazard's Gross Margin % falls into.

Lazard Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

Lazard's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )	=	Gross Profit (A: Dec. 2023 )	/	Revenue (A: Dec. 2023 )
	=	605.1	/	2551.14
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(2551.14 - 1946.01)	/	2551.14
	=	23.72 %

Lazard's Gross Margin for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	259.6	/	818.837
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(818.837 - 559.207)	/	818.837
	=	31.71 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Lazard (LTS:0UB6) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Lazard had a gross margin of 31.71% for the quarter that ended in Dec. 2023 => Competition eroding margins

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

Lazard Gross Margin % Related Terms

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Lazard (LTS:0UB6) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Lazard Inc (LTS:0UB6) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

LAZ:USA

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.

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