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In page Functional programming:

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Lazy evaluation may also speed up the program, even asymptotically, whereas it may slow it down at most by a constant factor (however, it may introduce memory leaks if used improperly). Launchbury 1993[11] discusses theoretical issues related to memory leaks from lazy evaluation, and O'Sullivan et al. 2008[12] give some practical advice for analyzing and fixing them. However, the most general implementations of lazy evaluation making extensive use of dereferenced code and data perform poorly on modern processors with deep pipelines and multi-level caches (where a cache miss may cost hundreds of cycles)[citation needed].