Comprehensive Stock Comparison
Compare Lazard Ltd (LAZ) vs The Goldman Sachs Group, Inc. (GS) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | LAZ | 21.0% revenue growth vs GS's 17.0% |
| Value | LAZ | Lower P/E (13.9x vs 14.7x) |
| Quality / Margins | GS | 11.3% net margin vs LAZ's 9.1% |
| Stability / Safety | GS | Beta 1.36 vs LAZ's 1.72 |
| Dividends | LAZ | 3.5% yield, vs GS's 1.6% |
| Momentum (1Y) | GS | +40.4% vs LAZ's +4.9% |
| Efficiency (ROA) | LAZ | 5.9% ROA vs GS's 0.9%, ROIC 10.2% vs 1.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Lazard is a global financial advisory and asset management firm that provides strategic advice on mergers, restructurings, and capital markets while managing investment portfolios for institutional and private clients. It generates revenue primarily through advisory fees from its Financial Advisory segment (roughly 60% of revenue) and management fees from its Asset Management business (roughly 40%). The company's key advantage lies in its century-old brand reputation, deep client relationships across governments and corporations worldwide, and its elite advisory teams that command premium fees for complex transactions.
Goldman Sachs is a global investment bank and financial services firm that provides investment banking, securities, and investment management services to corporations, governments, and high-net-worth individuals. It generates revenue primarily through investment banking fees (20-25%), trading and market-making in its Global Markets segment (40-45%), and asset management fees from its wealth and investment management divisions (30-35%). The firm's key competitive advantage lies in its elite brand reputation, deep client relationships with the world's largest corporations and governments, and its sophisticated risk management capabilities honed over decades.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
GS leads in 3 of 6 categories (Financial Metrics, Total Returns). LAZ leads in 2 (Valuation Metrics, Profitability & Efficiency). 1 tied.
Financial Metrics (TTM)
GS is the larger business by revenue, generating $126.9B annually — 41.1x LAZ's $3.1B. Profitability is closely matched — net margins range from 11.3% (GS) to 9.1% (LAZ).
| Metric | LAZLazard Ltd | GSThe Goldman Sachs… |
|---|---|---|
| RevenueTrailing 12 months | $3.1B | $126.9B |
| EBITDAEarnings before interest/tax | $384M | $23.4B |
| Net IncomeAfter-tax profit | $273M | $16.7B |
| Free Cash FlowCash after capex | $468M | $15.8B |
| Gross MarginGross profit ÷ Revenue | +35.1% | +41.1% |
| Operating MarginEBIT ÷ Revenue | +12.5% | +14.5% |
| Net MarginNet income ÷ Revenue | +9.1% | +11.3% |
| FCF MarginFCF ÷ Revenue | +22.6% | -12.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -34.3% | +45.8% |
Valuation Metrics
At 18.9x trailing earnings, LAZ trades at a 11% valuation discount to GS's 21.2x P/E. Adjusting for growth (PEG ratio), GS offers better value at 1.51x vs LAZ's 9.97x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | LAZLazard Ltd | GSThe Goldman Sachs… |
|---|---|---|
| Market CapShares × price | $4.8B | $267.0B |
| Enterprise ValueMkt cap + debt − cash | $5.6B | $701.9B |
| Trailing P/EPrice ÷ TTM EPS | 18.88x | 21.20x |
| Forward P/EPrice ÷ next-FY EPS est. | 13.85x | 14.73x |
| PEG RatioP/E ÷ EPS growth rate | 9.97x | 1.51x |
| EV / EBITDAEnterprise value multiple | 13.32x | 33.76x |
| Price / SalesMarket cap ÷ Revenue | 1.54x | 2.10x |
| Price / BookPrice ÷ Book value/share | 6.77x | 2.35x |
| Price / FCFMarket cap ÷ FCF | 6.81x | — |
Profitability & Efficiency
LAZ delivers a 28.6% return on equity — every $100 of shareholder capital generates $29 in annual profit, vs $13 for GS. LAZ carries lower financial leverage with a 2.87x debt-to-equity ratio, signaling a more conservative balance sheet compared to GS's 5.06x. On the Piotroski fundamental quality scale (0–9), LAZ scores 8/9 vs GS's 4/9, reflecting strong financial health.
| Metric | LAZLazard Ltd | GSThe Goldman Sachs… |
|---|---|---|
| ROE (TTM)Return on equity | +28.6% | +12.6% |
| ROA (TTM)Return on assets | +5.9% | +0.9% |
| ROICReturn on invested capital | +10.2% | +1.9% |
| ROCEReturn on capital employed | +10.3% | +3.6% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 4 |
| Debt / EquityFinancial leverage | 2.87x | 5.06x |
| Net DebtTotal debt minus cash | $884M | $434.8B |
| Cash & Equiv.Liquid assets | $1.3B | $182.1B |
| Total DebtShort + long-term debt | $2.2B | $616.9B |
| Interest CoverageEBIT ÷ Interest expense | 5.01x | 0.31x |
Total Returns (with DRIP)
A $10,000 investment in GS five years ago would be worth $27,615 today (with dividends reinvested), compared to $14,919 for LAZ. Over the past 12 months, GS leads with a +40.4% total return vs LAZ's +4.9%. The 3-year compound annual growth rate (CAGR) favors GS at 36.6% vs LAZ's 14.9% — a key indicator of consistent wealth creation.
| Metric | LAZLazard Ltd | GSThe Goldman Sachs… |
|---|---|---|
| YTD ReturnYear-to-date | +2.7% | -6.0% |
| 1-Year ReturnPast 12 months | +4.9% | +40.4% |
| 3-Year ReturnCumulative with dividends | +51.5% | +154.7% |
| 5-Year ReturnCumulative with dividends | +49.2% | +176.1% |
| 10-Year ReturnCumulative with dividends | +103.8% | +521.2% |
| CAGR (3Y)Annualised 3-year return | +14.9% | +36.6% |
Risk & Volatility
GS is the less volatile stock with a 1.36 beta — it tends to amplify market swings less than LAZ's 1.72 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | LAZLazard Ltd | GSThe Goldman Sachs… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.72x | 1.36x |
| 52-Week HighHighest price in past year | $58.75 | $984.70 |
| 52-Week LowLowest price in past year | $31.97 | $439.38 |
| % of 52W HighCurrent price vs 52-week peak | +86.1% | +87.3% |
| RSI (14)Momentum oscillator 0–100 | 51.7 | 52.2 |
| Avg Volume (50D)Average daily shares traded | 807K | 2.0M |
Analyst Outlook
Wall Street rates LAZ as "Buy" and GS as "Hold". Consensus price targets imply 8.6% upside for GS (target: $934) vs 8.0% for LAZ (target: $55). For income investors, LAZ offers the higher dividend yield at 3.46% vs GS's 1.57%.
| Metric | LAZLazard Ltd | GSThe Goldman Sachs… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $54.67 | $933.67 |
| # AnalystsCovering analysts | 28 | 54 |
| Dividend YieldAnnual dividend ÷ price | +3.5% | +1.6% |
| Dividend StreakConsecutive years of raises | 0 | 12 |
| Dividend / ShareAnnual DPS | $1.75 | $13.48 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.3% | +3.8% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| Lazard Ltd (LAZ) | 100 | 150.2 | +50.2% |
| The Goldman Sachs G… (GS) | 100 | 471.35 | +371.4% |
The Goldman Sachs G… (GS) returned +176% over 5 years vs Lazard Ltd (LAZ)'s +49%. A $10,000 investment in GS 5 years ago would be worth $27,615 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Lazard Ltd (LAZ) | $2.4B | $3.1B | +28.6% |
| The Goldman Sachs G… (GS) | $39.2B | $126.9B | +223.8% |
Lazard Ltd's revenue grew from $2.4B (2015) to $3.1B (2024) — a 2.8% CAGR. The Goldman Sachs Group, Inc.'s revenue grew from $39.2B (2015) to $126.9B (2024) — a 13.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Lazard Ltd (LAZ) | 41.1% | 9.1% | -77.9% |
| The Goldman Sachs G… (GS) | 15.5% | 11.3% | -27.5% |
Lazard Ltd's net margin went from 41% (2015) to 9% (2024). The Goldman Sachs Group, Inc.'s net margin went from 16% (2015) to 11% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Lazard Ltd (LAZ) | 27.5 | 19.2 | -30.2% |
| The Goldman Sachs G… (GS) | 28.3 | 14.1 | -50.2% |
Lazard Ltd has traded in a 9x–28x P/E range over 7 years; current trailing P/E is ~19x. The Goldman Sachs Group, Inc. has traded in a 6x–28x P/E range over 8 years; current trailing P/E is ~21x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Lazard Ltd (LAZ) | 7.4 | 2.68 | -63.8% |
| The Goldman Sachs G… (GS) | 12.14 | 40.54 | +233.9% |
Lazard Ltd's EPS grew from $7.40 (2015) to $2.68 (2024) — a -11% CAGR. The Goldman Sachs Group, Inc.'s EPS grew from $12.14 (2015) to $40.54 (2024) — a 14% CAGR.
Chart 6Free Cash Flow — 5 Years
Lazard Ltd generated $697M FCF in 2024 (-16% vs 2021). The Goldman Sachs Group, Inc. generated $-15B FCF in 2024 (-1038% vs 2021).
LAZ vs GS: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is LAZ or GS a better buy right now?
Lazard Ltd (LAZ) offers the better valuation at 18.9x trailing P/E (13.9x forward), making it the more compelling value choice. Analysts rate Lazard Ltd (LAZ) a "Buy" — based on 28 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — LAZ or GS?
On trailing P/E, Lazard Ltd (LAZ) is the cheapest at 18.9x versus The Goldman Sachs Group, Inc. at 21.2x. On forward P/E, Lazard Ltd is actually cheaper at 13.9x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: The Goldman Sachs Group, Inc. wins at 1.05x versus Lazard Ltd's 7.31x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — LAZ or GS?
Over the past 5 years, The Goldman Sachs Group, Inc. (GS) delivered a total return of +176.1%, compared to +49.2% for Lazard Ltd (LAZ). A $10,000 investment in GS five years ago would be worth approximately $28K today (assuming dividends reinvested). Over 10 years, the gap is even starker: GS returned +521.2% versus LAZ's +103.8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — LAZ or GS?
By beta (market sensitivity over 5 years), The Goldman Sachs Group, Inc. (GS) is the lower-risk stock at 1.36β versus Lazard Ltd's 1.72β — meaning LAZ is approximately 26% more volatile than GS relative to the S&P 500. On balance sheet safety, Lazard Ltd (LAZ) carries a lower debt/equity ratio of 3% versus 5% for The Goldman Sachs Group, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — LAZ or GS?
The Goldman Sachs Group, Inc. (GS) is the more profitable company, earning 11.3% net margin versus 9.1% for Lazard Ltd — meaning it keeps 11.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GS leads at 14.5% versus 12.5% for LAZ. At the gross margin level — before operating expenses — GS leads at 41.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is LAZ or GS more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, The Goldman Sachs Group, Inc. (GS) is the more undervalued stock at a PEG of 1.05x versus Lazard Ltd's 7.31x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, Lazard Ltd (LAZ) trades at 13.9x forward P/E versus 14.7x for The Goldman Sachs Group, Inc. — 0.9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for GS: 8.6% to $933.67.
07Which pays a better dividend — LAZ or GS?
All stocks in this comparison pay dividends. Lazard Ltd (LAZ) offers the highest yield at 3.5%, versus 1.6% for The Goldman Sachs Group, Inc. (GS).
08Is LAZ or GS better for a retirement portfolio?
For long-horizon retirement investors, The Goldman Sachs Group, Inc. (GS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (1.6% yield, +521.2% 10Y return). Lazard Ltd (LAZ) carries a higher beta of 1.72 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (GS: +521.2%, LAZ: +103.8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between LAZ and GS?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: LAZ is a small-cap income-oriented stock; GS is a large-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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