• Lazard average operating margin for 2023 was 2.24%, a 89.87% increase from 2022.
• Lazard average operating margin for 2022 was 22.11%, a 2.6% decline from 2021.
• Lazard average operating margin for 2021 was 21.55%, a 32.21% increase from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.