Is Lazard, Inc. overvalued or undervalued?

As of 31 October 2025, the valuation grade for Lazard, Inc. has moved from fair to expensive, indicating a shift towards overvaluation. The company appears overvalued based on its P/E ratio of 16, which is significantly lower than its peer Jefferies Financial Group, Inc. at 29.53, and its EV to EBITDA ratio of 7.26, which is again less favorable compared to peers like Evercore, Inc. at 40.11. Additionally, the PEG ratio of 0.06 suggests that the stock may not be as attractive given its growth prospects.
In comparison to its peers, Lazard's valuation metrics indicate that it is lagging behind, particularly when looking at the P/E and EV to EBITDA ratios. The stock has underperformed relative to the S&P 500 across multiple time frames, with a year-to-date return of -6.12% compared to the S&P 500's 16.30%, and a one-year return of -9.34% against the S&P 500's 19.89%. This further reinforces the notion that Lazard, Inc. is currently overvalued.