LAZ : NYSE : Financial
$35.98 -0.66 | -1.80%
Today's Range: 35.69 - 36.45
Avg. Daily Volume: 938,200
09/26/16 - 4:02 PM ET

Financial Analysis


LAZARD LTD's gross profit margin for the second quarter of its fiscal year 2016 has decreased when compared to the same period a year ago. Sales and net income have dropped, although the growth in net income underperformed the average competitor within the industry, the revenue growth did not.

At the same time, stockholders' equity ("net worth") has greatly increased by 41.47% from the same quarter last year.

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Income Statement Q2 FY16 Q2 FY15
Net Sales ($mil)545.47619.23
EBITDA ($mil)132.6180.59
EBIT ($mil)124.03170.71
Net Income ($mil)80.36374.11


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)1347.291022.58
Total Assets ($mil)4215.624151.94
Total Debt ($mil)1032.291011.95
Equity ($mil)1146.2810.2


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin24.3129.16
EBITDA Margin24.329.16
Operating Margin22.7427.57
Sales Turnover0.530.59
Return on Assets16.6816.65
Return on Equity61.3785.32
Debt Q2 FY16 Q2 FY15
Current Ratio0.00.0
Debt/Capital0.470.56
Interest Expense11.9611.5
Interest Coverage10.3714.85


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)124.56126.09
Div / share0.380.35
EPS0.612.82
Book value / share9.26.43
Institutional Own % n/a n/a
Avg Daily Volume1005876.0869764.0

Valuation


BUY. LAZARD LTD's P/E ratio indicates a significant discount compared to an average of 22.00 for the Capital Markets industry and a significant discount compared to the S&P 500 average of 25.19. Conducting a second comparison, its price-to-book ratio of 3.97 indicates a premium versus the S&P 500 average of 2.82 and a significant discount versus the industry average of 5.51. The price-to-sales ratio is similar to the S&P 500 average, but it is significantly below the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, LAZARD LTD proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
LAZ 6.93 Peers 22.00   LAZ 6.60 Peers 15.22

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

LAZ is trading at a significant discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

LAZ is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
LAZ 11.25 Peers 19.21   LAZ NM Peers 1.46

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

LAZ is trading at a significant discount to its peers.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

LAZ's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
LAZ 3.97 Peers 5.51   LAZ 1.53 Peers 6.96

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

LAZ is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, LAZ is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
LAZ 2.03 Peers 4.60   LAZ -8.16 Peers -0.86

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

LAZ is trading at a significant discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

LAZ significantly trails its peers on the basis of sales growth

 

 

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