3Q25 Earnings Presentation Forward-Looking Statements Forward-Looking Statements This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, made through the use of words or phrases such as ''may'', ''might'', ''sh ...

Core Insights - Lazard Ltd reported strong financial performance for Q3 2025, exceeding market expectations in both earnings and revenue [1][2][3] Financial Performance - Earnings Per Share (EPS) for Q3 2025 was $0.56, surpassing the estimated EPS of $0.44 and showing a significant increase from $0.38 in the previous year [2][6] - Revenue for the quarter reached $748.08 million, exceeding the estimated $726.25 million and marking a 12.2% increase from $645.91 million in the same period last year [3][6] Market Valuation - The company has a price-to-earnings (P/E) ratio of approximately 15.04, indicating how the market values its earnings [4] - The price-to-sales ratio is about 1.46, reflecting investor willingness to pay per dollar of sales [4] - The enterprise value to sales ratio stands at 1.31, showing total valuation relative to revenue [4] Financial Stability - Lazard's debt-to-equity ratio is 0.70, indicating a balanced approach to financing its assets [5] - The current ratio of 1.89 suggests a strong ability to cover short-term liabilities with short-term assets [5] - An earnings yield of 6.65% provides a comprehensive view of Lazard's financial position and potential for investors [5]

Core Insights - Vertiv Holdings Co. is a key player in the technology sector, focusing on critical digital infrastructure and continuity solutions [1] - UBS has set a new price target for Vertiv at $201, suggesting a potential increase of approximately 17.14% from its current trading price of $171.59 [2][6] - The company reported strong financial results, with an EPS of $1.24, exceeding analysts' expectations, and revenue of $2.68 billion, surpassing forecasts [3][6] Financial Performance - Vertiv's earnings per share (EPS) of $1.24 for the quarter exceeded expectations by $0.25, while revenue reached $2.68 billion, above the anticipated $2.59 billion [3][6] - The company achieved a return on equity of 51.64% and a net margin of 8.93%, indicating high operational efficiency [4][6] - Quarterly revenue increased by 29% compared to the same period last year, where the EPS was $0.76 [4] Market Position - Despite a current stock price of $171.59, which reflects a decrease of 1.84%, Vertiv's stock has shown resilience, trading between a low of $162.68 and a high of $184.50 [5] - Vertiv has a market capitalization of approximately $65.52 billion and a trading volume of 21.32 million shares, maintaining its significance on the NYSE [5]

Financial Performance Highlights - Net revenue for 3Q25 reached $1429 million, with Year-To-Date (YTD) revenue at $3969 million[4] - GAAP net earnings for 3Q25 were $202 million ($1.84 EPS), and non-GAAP net earnings were $214 million ($1.95 EPS)[4] - Year-to-date GAAP net earnings reached $391 million ($3.56 EPS), while non-GAAP net earnings were $454 million ($4.13 EPS)[4] - The company's book value per share is $49.74, with a tangible book value per share of $34.99[4] Global Wealth Management (GWM) - GWM net revenue for 3Q25 was $907 million, a 10% increase year-over-year[15] - Transactional revenue within GWM reached $203 million, up 5% year-over-year[20] - Asset management revenue in GWM was $431 million, a 13% increase year-over-year[20] - Total client assets in GWM reached $544010 million, a 10% increase year-over-year[22] Institutional Group - Institutional Group revenue for 3Q25 was $500 million, a 34% increase year-over-year[15] - Advisory revenue within the Institutional Group was $179 million, up 31% year-over-year[36] - Capital raising revenue in the Institutional Group was $138 million, a 38% increase year-over-year[36] Expenses and Capital - Compensation expense for 3Q25 was $829 million, a 17% increase year-over-year[43] - Non-compensation expense for 3Q25 was $298 million, a 7% increase year-over-year[43]

Core Insights - Fifth Third Bancorp reported a year-over-year growth of 3% in demand deposits, indicating stability in its deposit base [1] - The company experienced a 14% improvement in commercial non-performing assets (NPAs) compared to the previous quarter [1] - Tangible book value per share increased by 7% year-over-year, reflecting positive growth in shareholder equity [1] - The net interest margin was highlighted as a key profitability metric, although specific figures were not provided in the excerpt [1]

Core Insights - ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, providing staffing and recruitment services across various industries, with operations in North America, Europe, Latin America, and Asia Pacific [1] - The company reported an earnings per share (EPS) of $0.38, which was below the estimated $0.82, primarily due to restructuring costs and non-cash currency translation losses in Argentina [2][6] - Revenue for the company was approximately $4.63 billion, slightly exceeding the estimated $4.62 billion, representing a 2.3% increase from the previous year [3][6] Financial Performance - The adjusted EPS, excluding restructuring costs and currency losses, was $0.83, surpassing the Zacks Consensus Estimate of $0.82 [2] - Net earnings for the quarter were $18 million, a decrease from $22.8 million a year ago [3] - The company's gross profit margin was 16.6%, affected by lower permanent recruitment activity and a shift towards enterprise clients [5] Valuation Metrics - The price-to-sales ratio of 0.09 and enterprise value to sales ratio of 0.17 suggest that the stock may be undervalued relative to its sales [4] - The debt-to-equity ratio of 0.81 indicates moderate debt levels [4] - The enterprise value to operating cash flow ratio is 9.78, reflecting the company's ability to cover its enterprise value with operating cash flow [5] Liquidity Position - The current ratio of 0.99 indicates that the company has nearly enough current assets to cover its liabilities [5]

Core Insights - Snap-on Incorporated reported an impressive earnings per share (EPS) of $5.09, exceeding the estimated EPS of $4.59, showcasing strong profit generation capabilities [2][4][6] - The company achieved a revenue of $1.19 billion in the third quarter of 2025, reflecting a 3.8% increase year-over-year and surpassing the Zacks Consensus Estimate of $1.15 billion by 3.49% [3][4] Financial Performance - Snap-on's EPS for the third quarter was $5.09, up from $4.77 in the previous year, and it has exceeded consensus EPS estimates three out of the last four quarters [4][6] - The company reported actual revenue of $1.19 billion, which was below the estimated $1.24 billion, yet the strong EPS performance remains a highlight [2] Financial Ratios - Snap-on maintains a price-to-earnings (P/E) ratio of approximately 12.42 and a price-to-sales ratio of about 3.76, indicating a strong financial position [5][6] - The company's debt-to-equity ratio is about 0.22, and it has a current ratio of approximately 4.40, demonstrating strong liquidity and a relatively low level of debt compared to equity [5]

Core Insights - Marsh & McLennan Companies, Inc. (MMC) continues to outperform competitors in the professional services sector, particularly in risk management and consulting [1] Financial Performance - On October 16, 2025, MMC reported earnings per share (EPS) of $1.85, exceeding the forecast of $1.79, marking an 11% increase in adjusted EPS [2][6] - The company's revenue reached approximately $6.35 billion, surpassing the anticipated $6.31 billion, with an overall revenue growth of 11% and a 4% rise on an underlying basis [2][6] - Adjusted operating income increased by 13%, indicating effective operational management and profitability enhancement [3] Financial Metrics - MMC's price-to-earnings (P/E) ratio stands at approximately 24.30, reflecting the price investors are willing to pay for each dollar of earnings [4][6] - The price-to-sales ratio is about 3.88, and the enterprise value to sales ratio is around 4.66, highlighting the value attributed to the company's sales [4] - The current ratio of 1.20 indicates satisfactory liquidity to meet short-term liabilities, while a debt-to-equity ratio of 1.37 shows a balanced financing approach [5][6]

Core Insights - Johnson & Johnson reported strong third-quarter earnings with earnings per share of $2.80 and revenue of approximately $23.99 billion, both exceeding estimates [1][6] - The company has raised its 2025 revenue forecast to between $93 billion and $93.5 billion, supported by a 15.7% increase in adjusted earnings per share compared to the previous year [2][6] - A strategic decision was made to spin off its orthopedics business into a standalone company, allowing JNJ to focus on its core operations [3][6] Financial Metrics - Johnson & Johnson has a price-to-earnings (P/E) ratio of approximately 19.99, indicating market valuation of its earnings [4] - The price-to-sales ratio is about 4.98, reflecting the market's valuation of its revenue [4] - The enterprise value to sales ratio stands at around 5.33, suggesting the market's valuation of the company's total value in relation to its sales [4] Financial Health - The company has a debt-to-equity ratio of approximately 0.65, indicating a balanced use of debt and equity [5] - A current ratio of around 1.01 demonstrates the company's ability to cover short-term liabilities with short-term assets [5]

Core Insights - TD SYNNEX (NYSE: SNX) is a significant player in the technology distribution and services industry, competing with major distributors like Ingram Micro and Arrow Electronics [1] - The company reported strong financial results for the quarter ending August 2025, showcasing its robust market position [1] Financial Performance - Earnings per share (EPS) for the quarter were $3.58, exceeding the estimated $3.02 and showing a year-over-year improvement from $2.86 [2][6] - Revenue reached approximately $15.65 billion, surpassing expectations and marking a 6.6% increase from the previous year's revenue of $14.68 billion [3][6] - Gross profit increased by 17.6%, reaching $1.13 billion, with a gross margin improvement from 6.54% to 7.22% [4][6] Financial Ratios - The company has a price-to-earnings (P/E) ratio of approximately 17.40 and a price-to-sales ratio of about 0.21, indicating favorable market valuation [5] - A debt-to-equity ratio of approximately 0.49 suggests a moderate level of debt, while a current ratio of around 1.26 indicates the company's ability to meet short-term liabilities [5]