Lazard Inc. (LAZ) exhibits 41.0% gross margins and 24.4% return on invested capital within Financials (Investment Managers), balanced against a 11.4x enterprise multiple and 6.9% implied options volatility.
Sustained 41.0% gross profitability converts into 10.3% operating margin and 24.4% ROIC, outpacing sector cost of capital.
ROIC: 24.4% // GM: 41.0%YoY revenue trajectory of +1.5% paired with 12.62% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +1.5% // FCF YLD: 12.62%Altman Z-Score of 2.03 and Piotroski F-Score of 6/9 indicate low near-term refinancing stress.
ALTMAN Z: 2.03 // F-SCORE: 6/9Trading at 16.3x trailing P/E (15.2x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 16.3x // EV/EBITDA: 11.4xOptions market prices a ±6.9% implied move with a 0.79 put/call ratio around $39.00 max pain.
IMPL MOVE: ±6.9% // P/C: 0.79Elevated industry capital intensity and customer concentration in Investment Managers require continuous execution to defend 7.4% net margins.
NET MARGIN: 7.4% // D/E: 1.91x| FILER | SIDE | $ VALUE |
|---|---|---|
| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
|---|---|---|
| INSPECT GEX & CHAIN IN OPT <GO> | ||
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