Is Lazard, Inc. overvalued or undervalued?

As of 31 October 2025, Lazard, Inc. moved from fair to expensive, indicating a shift in its valuation outlook. The company is currently considered overvalued based on its valuation metrics. Key ratios include a P/E ratio of 16, an EV to EBITDA of 7.26, and a PEG ratio of 0.06, which suggests that despite a low growth expectation, the stock price remains high relative to its earnings potential.
In comparison to its peers, Lazard's P/E ratio of 19.26 is notably lower than Jefferies Financial Group, Inc. at 29.53, and its EV to EBITDA is also less favorable than Houlihan Lokey, Inc. at 22.58. The recent stock performance shows that Lazard has underperformed against the S&P 500 across multiple periods, with a year-to-date return of -5.87% compared to the index's 16.30%, reinforcing the notion that the stock may be overvalued at its current price.