Lazard, Inc. (LAZ) vs Marex Group PLC (MRX)

Lazard, Inc. and Marex Group PLC are both Capital Markets companies. Marex Group PLC is the larger, with a market value of $4.7B against $3.8B — 1.2× the size. Marex Group PLC trades at the lower P/E: 15.3× against 22.0×. Marex Group PLC has the higher net margin (15.3% vs 5.39%) and the lower return on invested capital (0.00% vs 14.2%). Both pay a dividend; Lazard, Inc. yields more (5.14% vs 0.96%). Across the 17 metrics below, Marex Group PLC leads on 9 and Lazard, Inc. on 8.

Valuation

Metric LAZ MRX Capital Markets median
P/E 21.97 15.34 14.35
P/S 1.20 2.26 2.07
P/B 4.18 2.49 1.36
Price to free cash flow 5.71 2.03 9.28
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.55% 6.52% (8.28%)
Free cash flow yield 17.52% 49.31% (1.12%)

Profitability

Metric LAZ MRX Capital Markets median
Gross margin 100.00% 100.00% 68.15%
Operating margin 8.12% 36.42% 0.00%
Net margin 5.39% 15.28% (0.34%)
Free cash flow margin 20.96% 0.00% 0.00%
Return on equity 19.46% 0.00% 0.00%
Return on assets 3.86% 0.00% 0.00%
Return on invested capital 14.16% 0.00% 0.00%

Growth

Metric LAZ MRX Capital Markets median
Revenue growth (TTM) 9.18% — 19.72%
EPS growth (last fiscal year) (19.03%) 41.91% 16.79%
Revenue growth, 5-year CAGR 3.84% — 17.41%
Net income growth, 5-year CAGR (10.17%) — 0.00%

Health

Metric LAZ MRX Capital Markets median
Debt to equity 1.80 4.96 0.07
Current ratio 2.66 1.09 1.51
Net debt to EBITDA 0.02 (12.17) (0.03)

Dividend

Metric LAZ MRX Capital Markets median
Dividend yield 5.14% 0.96% 1.58%
Payout ratio 1.21 0.16 0.19

Size

Metric LAZ MRX Capital Markets median
Market cap 3.76b 4.67b 527.01m

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