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    Evercore (EVR)

    Market Price (8/22/2026): $291.94 | Market Cap: $11.3 BilSector: Financials | Industry: Investment Banking & Brokerage

    Evercore (EVR)

    Market Price (8/22/2026): $291.94
    Market Cap: $11.3 Bil
    Sector: Financials
    Industry: Investment Banking & Brokerage

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 14%

    Strong revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 45%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 35%

    Stock buyback support
    Stock Buyback 3Y Total is 1.9 Bil

    Low stock price volatility
    Vol 12M is 38%

    Megatrend and thematic drivers
    Megatrends include Digital & Alternative Assets. Themes include Private Equity, Private Credit, and Venture Capital.

    Weak multi-year price returns
    2Y Excs Rtn is -14%

    Significant share based compensation
    SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 16%

    Key risks
    EVR key risks include [1] its heavy revenue concentration in financial advisory services.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4%, FCF Yield is 14%
    1 Strong revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 45%
    2 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 35%
    3 Stock buyback support
    Stock Buyback 3Y Total is 1.9 Bil
    4 Low stock price volatility
    Vol 12M is 38%
    5 Megatrend and thematic drivers
    Megatrends include Digital & Alternative Assets. Themes include Private Equity, Private Credit, and Venture Capital.
    6 Weak multi-year price returns
    2Y Excs Rtn is -14%
    7 Significant share based compensation
    SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 16%
    8 Key risks
    EVR key risks include [1] its heavy revenue concentration in financial advisory services.

    EVR in ETFs

    Weight = EVR's share of each fund

    VTI0.02%
    ITOT0.02%
    IWB0.02%
    IJH0.33%
    VIG0.05%
    VYM0.05%
    VB0.15%
    IAI1.0%
    +24 more covered ETFs

    Valuation & Metrics

    FYE: 12/31EVR [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$4.7 Bil—
    FY 2026 Sales$4.9 Bil—
    FY 2027 Sales$5.5 Bil—
    FY 2026 Sales Growth3.4%—
    FY 2027 Sales Growth12.7%12.9%
    EARNINGS
    LTM Net Income (GAAP) [3]$745.0 Mil—
    FY 2026 Net Income (Non-GAAP)$856.9 Mil—
    FY 2027 Net Income (Non-GAAP)$979.1 Mil—
    FY 2027 Net Income Growth14.3%18.9%
    FY 2026 EPS (Non-GAAP)$19.55—
    FY 2027 EPS (Non-GAAP)$22.59—
    FY 2027 EPS Growth15.6%—
    VALUATION
    FY 2026 P/S2.31.8
    FY 2027 P/S2.1—
    FY 2026 P/E13.28.5
    FY 2027 P/E11.5—

    [1] EVR forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 8/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    EVRS&P 500
    REVENUE GROWTHVERY GOOD
    Rev LTM ($ Bil)4.7
    Rev Chg Q18.8%9.3%
    Rev Chg LTM45.4%8.4%
    Rev Chg 3Y Avg24.9%5.9%
    PROFITABILITYFAIR
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)1.7
    Net Inc LTM ($ Bil)0.7
    CFO/Rev LTM35.4%21.8%
    Net Inc Mgn15.8%13.0%
    VALUATIONMODERATE
    P/S2.43.3
    P/CFO6.815.6
    P/FCF6.920.0
    P/E15.123.2

    AI Analysis | Feedback

    MetricValueDateSource
    Assets Under Management13.9 billion12312024Link
    Number of Employees~2,5259302025Link
    Number of Investment Banking Senior Managing Directors1689302025Link
    Number of #1 Position Ranked Equity Research Analysts1710292024Link
    Number of Investment Banking Offices209302025Link
    Number of Countries with Offices149302025Link
    Number of Countries Where Clients are Served50+9302025Link
    Total Announced M&A Transaction Value Involvement (Global)Over $4.7 trillion (since founding)2222024Link
    Number of Analysts Following8112025Link

    Price Chart

    Recent
    7/29/2026Earnings ReleaseRev: $998 Mil (A) vs. $984 Mil (E)
    EPS: 2.91 (A) vs. $3.03 (E)
    Upcoming
    8/28/2026DividendAmount: $0.89
    Payment On: 9/11/2026
    10/28/2026Earnings ReleaseRev: $1.0 Bil (E)
    EPS: $3.49 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 8/10/2026

    Evercore (EVR) stock has lost about 10% since 4/30/2026 because of the following key factors:

    1. Evercore's adjusted diluted earnings per share (EPS) of $2.91 for fiscal Q2 2026 (ended June 30, 2026) missed analysts' consensus estimates of $3.03 by $0.12. This earnings miss likely contributed to negative investor sentiment, despite the firm reporting record adjusted net revenues of approximately $1 billion, which surpassed consensus estimates by 0.6%.

    2. Increased operating expenses, particularly in employee compensation and benefits, impacted profitability. In fiscal Q2 2026, employee compensation and benefits rose by $93.2 million, or 17%, year-over-year. This increase was primarily due to higher amortization of deferred compensation awards, increased base salaries, and a larger accrual for incentive compensation, directly contributing to the pressure on the company's bottom line.

    Show more
    Updated on 8/10/2026

    Evercore (EVR) stock has lost about 10% since 4/30/2026 because of the following key factors:

    1. Evercore's adjusted diluted earnings per share (EPS) of $2.91 for fiscal Q2 2026 (ended June 30, 2026) missed analysts' consensus estimates of $3.03 by $0.12. This earnings miss likely contributed to negative investor sentiment, despite the firm reporting record adjusted net revenues of approximately $1 billion, which surpassed consensus estimates by 0.6%.

    2. Increased operating expenses, particularly in employee compensation and benefits, impacted profitability. In fiscal Q2 2026, employee compensation and benefits rose by $93.2 million, or 17%, year-over-year. This increase was primarily due to higher amortization of deferred compensation awards, increased base salaries, and a larger accrual for incentive compensation, directly contributing to the pressure on the company's bottom line.

    3. Several Wall Street analysts lowered their price targets for Evercore following the fiscal Q2 2026 earnings release. For example, BMO Capital reduced its price target from $390 to $338 on August 3, 2026, and Morgan Stanley adjusted its target from $376 to $363 on July 30, 2026. These downward revisions indicated a more cautious outlook from analysts, potentially influencing investor perceptions and contributing to the stock's decline.

    4. Broader macroeconomic factors fostered a cautious market environment, despite robust sector activity. While the investment banking sector, including Evercore's advisory and underwriting businesses, experienced strong activity in fiscal Q2 2026, the overall market was influenced by evolving policy expectations, persistent inflation concerns, and geopolitical developments. This led central banks to maintain a measured and data-dependent approach, which may have tempered general investor enthusiasm for financial stocks during the specified period.

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    Stock Movement Drivers

    Fundamental Drivers

    The -8.9% change in EVR stock from 4/30/2026 to 8/21/2026 was primarily driven by a -27.8% change in the company's P/E Multiple.
    (LTM values as of)43020268212026Change
    Stock Price ($)320.47291.89-8.9%
    Change Contribution By: 
    Total Revenues ($ Mil)3,8564,70922.1%
    Net Income Margin (%)15.4%15.8%3.1%
    P/E Multiple20.915.1-27.8%
    Shares Outstanding (Mil)39390.2%
    Cumulative Contribution-8.9%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 8/21/2026
    ReturnCorrelation
    EVR-8.9% 
    Market (SPY)6.5%57.2%
    Sector (XLF)10.3%53.1%

    Fundamental Drivers

    The -16.9% change in EVR stock from 1/31/2026 to 8/21/2026 was primarily driven by a -41.2% change in the company's P/E Multiple.
    (LTM values as of)13120268212026Change
    Stock Price ($)351.46291.89-16.9%
    Change Contribution By: 
    Total Revenues ($ Mil)3,5434,70932.9%
    Net Income Margin (%)14.9%15.8%6.1%
    P/E Multiple25.815.1-41.2%
    Shares Outstanding (Mil)39390.2%
    Cumulative Contribution-16.9%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    1/31/2026 to 8/21/2026
    ReturnCorrelation
    EVR-16.9% 
    Market (SPY)11.0%60.3%
    Sector (XLF)8.1%66.4%

    Fundamental Drivers

    The -2.1% change in EVR stock from 7/31/2025 to 8/21/2026 was primarily driven by a -42.5% change in the company's P/E Multiple.
    (LTM values as of)73120258212026Change
    Stock Price ($)298.03291.89-2.1%
    Change Contribution By: 
    Total Revenues ($ Mil)3,0944,70952.2%
    Net Income Margin (%)14.2%15.8%11.6%
    P/E Multiple26.315.1-42.5%
    Shares Outstanding (Mil)39390.2%
    Cumulative Contribution-2.1%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2025 to 8/21/2026
    ReturnCorrelation
    EVR-2.1% 
    Market (SPY)22.2%60.0%
    Sector (XLF)11.1%65.2%

    Fundamental Drivers

    The 125.5% change in EVR stock from 7/31/2023 to 8/21/2026 was primarily driven by a 80.3% change in the company's Total Revenues ($ Mil).
    (LTM values as of)73120238212026Change
    Stock Price ($)129.45291.89125.5%
    Change Contribution By: 
    Total Revenues ($ Mil)2,6114,70980.3%
    Net Income Margin (%)15.4%15.8%2.8%
    P/E Multiple12.415.122.0%
    Shares Outstanding (Mil)3939-0.3%
    Cumulative Contribution125.5%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2023 to 8/21/2026
    ReturnCorrelation
    EVR125.5% 
    Market (SPY)73.2%68.9%
    Sector (XLF)70.0%73.3%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    EVR Return26%-18%61%64%24%-15%189%
    Peers Return53%-10%25%57%17%-3%206%
    S&P 500 Return27%-19%24%23%16%12%103%

    Monthly Win Rates [3]
    EVR Win Rate50%42%58%75%75%50% 
    Peers Win Rate69%42%54%70%63%45% 
    S&P 500 Win Rate75%42%67%75%67%50% 

    Max Drawdowns [4]
    EVR Max Drawdown-21%-41%-22%-14%-44%-30% 
    Peers Max Drawdown-14%-34%-23%-11%-35%-30% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: GS, MS, LAZ, HLI, JEF. See EVR Returns vs. Peers.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 8/21/2026 (YTD)

    How Low Can It Go

    EventEVRS&P 500
    2025 US Tariff Shock
      % Loss-38.9%-18.8%
      % Gain to Breakeven63.7%23.1%
      Time to Breakeven79 days79 days
    2023 SVB Regional Banking Crisis
      % Loss-21.5%-6.7%
      % Gain to Breakeven27.3%7.1%
      Time to Breakeven62 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-40.3%-24.5%
      % Gain to Breakeven67.4%32.4%
      Time to Breakeven129 days427 days
    2020 COVID-19 Crash
      % Loss-55.8%-33.7%
      % Gain to Breakeven126.4%50.9%
      Time to Breakeven215 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-33.6%-19.2%
      % Gain to Breakeven50.7%23.8%
      Time to Breakeven126 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-25.4%-12.2%
      % Gain to Breakeven34.1%13.9%
      Time to Breakeven292 days62 days

    Compare to GS, MS, LAZ, HLI, JEF

    In The Past

    Evercore's stock fell -38.9% during the 2025 US Tariff Shock. Such a loss loss requires a 63.7% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventEVRS&P 500
    2025 US Tariff Shock
      % Loss-38.9%-18.8%
      % Gain to Breakeven63.7%23.1%
      Time to Breakeven79 days79 days
    2023 SVB Regional Banking Crisis
      % Loss-21.5%-6.7%
      % Gain to Breakeven27.3%7.1%
      Time to Breakeven62 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-40.3%-24.5%
      % Gain to Breakeven67.4%32.4%
      Time to Breakeven129 days427 days
    2020 COVID-19 Crash
      % Loss-55.8%-33.7%
      % Gain to Breakeven126.4%50.9%
      Time to Breakeven215 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-33.6%-19.2%
      % Gain to Breakeven50.7%23.8%
      Time to Breakeven126 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-25.4%-12.2%
      % Gain to Breakeven34.1%13.9%
      Time to Breakeven292 days62 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-33.8%-17.9%
      % Gain to Breakeven51.1%21.8%
      Time to Breakeven457 days123 days
    2010 Eurozone Sovereign Debt Crisis / Flash Crash
      % Loss-39.8%-15.4%
      % Gain to Breakeven66.2%18.2%
      Time to Breakeven305 days125 days
    2008-2009 Global Financial Crisis
      % Loss-66.9%-53.4%
      % Gain to Breakeven202.2%114.4%
      Time to Breakeven197 days1085 days
    Summer 2007 Credit Crunch
      % Loss-33.3%-8.6%
      % Gain to Breakeven50.0%9.5%
      Time to Breakeven772 days47 days

    Compare to GS, MS, LAZ, HLI, JEF

    In The Past

    Evercore's stock fell -38.9% during the 2025 US Tariff Shock. Such a loss loss requires a 63.7% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Evercore (EVR)

    Evercore Inc. (EVR) operates as a leading independent investment banking advisory firm globally, guiding companies and institutions through complex financial and strategic challenges. Its primary business segment, Investment Banking, provides a comprehensive suite of strategic advisory services, including mergers and acquisitions (M&A), defense advisory, and shareholder advisory. This segment also specializes in Capital Markets Advisory, assisting clients with equity and debt capital raising, restructuring, and private placements. Evercore's expertise primarily serves institutional investor clients across the United States, Europe, Latin America, and other international markets.

    In addition to its robust advisory services, Evercore features an Investment Management segment. This segment delivers wealth management services specifically designed for high-net-worth individuals, foundations, and endowments, helping them achieve their financial objectives. Furthermore, it manages financial assets for institutional investors, employing sophisticated strategies to optimize portfolios. Essentially, Evercore functions as a premier financial partner, offering both critical strategic financial guidance and advanced investment management solutions to a discerning global clientele.

    AI Analysis | Feedback

    Here are 1-3 brief analogies to describe Evercore:

    • Goldman Sachs or Morgan Stanley for high-end corporate financial advisory.

    • McKinsey or Bain for financial deals and wealth management.

    AI Analysis | Feedback

    ```html
    • Strategic Advisory: Providing advice on mergers and acquisitions, defense strategies, shareholder matters, and transaction structuring.
    • Capital Markets Advisory: Offering guidance on equity capital markets, debt financing, restructuring, private placements, and market risk management.
    • Research, Sales, and Trading: Delivering content-led insights and execution services to institutional investors.
    • Wealth Management: Providing tailored financial services to high-net-worth individuals, foundations, and endowments.
    • Asset Management: Managing investment portfolios and financial assets for institutional investors.
    ```

    AI Analysis | Feedback

    Evercore (EVR) serves a diverse client base across its Investment Banking and Investment Management segments. Given the nature of its advisory and asset management services, it primarily serves other businesses, institutions, and high-net-worth individuals rather than having a few publicly listed "major customer companies" in the traditional sense. Its client relationships for investment banking are typically transactional and its investment management client lists are private.

    Its major customer categories include:

    • Corporate and Institutional Clients: This broad category encompasses companies seeking strategic advisory services (such as mergers and acquisitions, shareholder advisory, and capital markets advisory including equity, debt, and private placement services) and institutional investors (such as pension funds, hedge funds, mutual funds, and sovereign wealth funds) that utilize Evercore's research, sales, trading, and asset management services. This category also includes foundations and endowments for wealth and asset management.
    • High-Net-Worth Individuals: Affluent individuals who utilize Evercore's wealth management services.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    John Weinberg, Chairman and Chief Executive Officer

    John Weinberg is Chairman of the Board of Directors and Chief Executive Officer of Evercore, positions he has held since February 2022. Previously, he was Co-Chairman of the Board and Executive Chairman of Evercore. Before joining Evercore in November 2016, Mr. Weinberg served as vice chairman of Goldman Sachs from 2006 to 2015 and as co-head of global investment banking from 2002 to 2015. He started at Goldman Sachs in 1983 as an associate and was promoted to partner in 1992. Mr. Weinberg is a board member of Ford Motor Company, New York-Presbyterian Hospital, Middlebury College, and the Cystic Fibrosis Foundation.

    Tim LaLonde, Chief Financial Officer

    Tim LaLonde is Evercore's chief financial officer, a senior managing director and a member of the firm's Management Committee. He assumed this role effective March 6, 2023. Mr. LaLonde joined Evercore in 2001 and previously served as Co-Head of the U.S. Advisory business and held several other global senior leadership roles within the firm. He has over 33 years of experience in the investment banking industry, having served clients as an investment banker for the first 20 years of his career. Prior to Evercore, he was an executive director at UBS and a vice president at Dillon Read, a predecessor firm of UBS. Mr. LaLonde advised on significant transactions, including General Motors' sale of a 51% interest in GMAC, AT&T's acquisition of BellSouth, and Cingular Wireless' acquisition of AT&T Wireless Services.

    Roger Altman, Founder and Senior Chairman

    Roger Altman is Founder and Senior Chairman of Evercore. He began his investment banking career at Lehman Brothers, becoming a general partner in 1974. Mr. Altman served as Assistant Secretary of the U.S. Treasury under President Carter. He later returned to Lehman as co-head of overall investment banking, remaining in that position until Lehman was sold. In 1987, Mr. Altman joined The Blackstone Group as vice chairman, head of advisory business, and investment committee member. He then served as Deputy Secretary of the U.S. Treasury under President Clinton. In 1995, he formed Evercore.

    Ralph Schlosstein, Chairman Emeritus

    Ralph Schlosstein is Chairman Emeritus of Evercore, a position he has held since February 2022. He previously served as co-chairman of the Board of Directors and co-CEO from July 2020, and prior to that, he was President and CEO of Evercore for over 11 years. Before joining Evercore in 2009, Mr. Schlosstein was the CEO of HighView Investment Group, an alternative investment management firm. Before forming HighView in 2008, he served for almost 20 years as President of BlackRock, the world's largest asset management firm.

    Eduardo Mestre, Chairman of Investment Banking

    Eduardo Mestre is Chairman of Investment Banking at Evercore and a senior managing director. Since joining Evercore, Mr. Mestre has been involved in many of the firm's most important transactions across numerous industry sectors, including media, consumer, industrials, chemicals, and financial institutions.

    AI Analysis | Feedback

    The key risks to Evercore Inc. (EVR) primarily stem from the cyclical nature of its business, intense competition for talent and clients, and the evolving regulatory landscape. *

    Cyclical Nature of Financial Markets and M&A Activity

    Evercore's core business, particularly its investment banking advisory services, is highly susceptible to the fluctuations of the global financial markets and the volume of mergers and acquisitions (M&A) activity. Economic downturns or periods of market instability can significantly reduce the demand for the firm's advisory services, directly impacting its revenue and profitability. The company's business model, focused on high-touch, relationship-driven mandates, means its activity is more exposed to deal timing and client decision cycles than more diversified financial institutions. *

    Intense Competition for Talent and Clients

    The financial advisory sector is highly competitive, with Evercore vying for both clients and skilled professionals against large, full-service financial institutions and other independent advisory firms. The ability to attract and retain top talent is crucial in this industry, and pressure from high compensation and rising fixed costs are ongoing concerns. This intense competition necessitates continuous innovation and adaptation to maintain a competitive edge. *

    Regulatory Changes and Compliance

    The financial services industry is subject to stringent and ever-evolving regulatory oversight across various jurisdictions where Evercore operates. Changes in regulations can increase compliance costs, restrict business activities, or lead to penalties for non-compliance, which can result in legal and financial losses, as well as reputational damage. Specifically for its investment management segment, navigating complex rules related to anti-money laundering (AML) and counter-terrorist financing (CTF) is a continuous challenge.

    AI Analysis | Feedback

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    AI Analysis | Feedback

    Evercore Inc. operates in two primary segments: Investment Banking and Investment Management. The addressable markets for these services are substantial across various regions.

    Investment Banking Segment

    Evercore's Investment Banking segment offers strategic advisory services, including mergers and acquisitions (M&A), capital markets advisory, and restructuring. The addressable market for these services is detailed below:

    • Globally, the investment banking market was valued at approximately USD 110.12 billion in 2025 and is projected to reach USD 214.90 billion by 2034.
    • In the U.S., the investment banking market size was approximately USD 54.74 billion in 2025 and is forecast to grow to USD 67.47 billion by 2031.

    Investment Management Segment

    Evercore's Investment Management segment provides wealth management services to high-net-worth individuals, foundations, and endowments, and manages financial assets for institutional investors. The addressable market for these services includes:

    • The global wealth management market size was valued at USD 1.83 trillion in 2024 and is poised to grow to USD 5.95 trillion by 2033.
    • For the broader asset management market (which includes institutional and wealth management services revenue) globally, the market size was valued at USD 432.77 billion in 2025 and is projected to grow to USD 1,122.04 billion by 2034.
    • In the U.S., the asset management market, which includes wealth management, generated an estimated revenue of USD 184.89 billion in 2025.

    AI Analysis | Feedback

    Evercore (EVR) is expected to experience future revenue growth driven by several key factors over the next 2-3 years:

    1. Strengthening Merger and Acquisition (M&A) Activity: The outlook for M&A activity is anticipated to strengthen in the latter half of 2025 and into 2026, which is expected to support Evercore's revenue momentum. The firm's strategic advisory business has already demonstrated strong performance, contributing to record net revenues.

    2. Diversification of Revenue Streams: Evercore's strategy to diversify its revenue beyond traditional M&A advisory, including growth in non-M&A businesses like Private Capital Advisory and underwriting, is a key driver. In 2025, underwriting revenues increased by 87% in the fourth quarter and 14% for the full year.

    3. Growth in Investment Management and Wealth Management: The Investment Management segment is a contributor to revenue growth, with Asset Management and Administration Fees increasing, driven by higher fees from Wealth Management clients and an increase in associated Assets Under Management (AUM). This segment saw a 16% revenue increase in 2024.

    4. Expansion Initiatives and Strategic Hiring: Strategic initiatives such as geographical expansion, particularly in Europe, and the strategic hiring of senior talent in key industry sectors are bolstering Evercore's future prospects. The company also received a license from the Capital Markets Authority in the Kingdom of Saudi Arabia in December 2025, signaling potential new market expansion.

    5. Strong Performance in the Equities Business: Evercore's equities business has achieved record results, demonstrating nine consecutive quarters of year-over-year revenue improvement as of 2025.

    AI Analysis | Feedback

    Share Repurchases

    • In 2025, Evercore returned $812 million to shareholders, which included $661 million in share buybacks, and plans to continue repurchases in 2026.
    • During 2024, the company returned $590.6 million to shareholders, repurchasing 2.3 million shares at an average price of $193.40.
    • For the full year 2023, Evercore returned $523.5 million to shareholders, including repurchases of 3 million shares at an average price of $129.04.

    Share Issuance

    • In February 2026, Evercore's CEO and Chairman John S. Weinberg received an award of 31,528 shares of Class A common stock as restricted stock units, which are set to vest in four equal annual installments starting February 4, 2027.
    • As of October 23, 2024, the number of Class A common stock shares outstanding was 38,068,746.
    • Amounts accrued under the 2021 Long-term Incentive Plan may be paid, at Evercore's discretion, in cash or Class A Shares in the first quarter of 2025, 2026, and 2027.

    Outbound Investments

    • Evercore expanded its global presence in 2025 through the acquisition of Robey Warshaw and the establishment of new offices in Italy, Nordics, and Saudi Arabia.
    • In 2024, the company recorded a loss due to the write-off of the remaining carrying value of its investment in Luminis, associated with the redemption of Evercore's interest.
    • Evercore continues to strategically invest in talent, technology, and geographic expansion.

    Capital Expenditures

    • Evercore's capital expenditures were $8.9 million in Q4 2025, representing a 54.4% decrease from the previous quarter.
    • Annual capital expenditures were $19 million in 2024, a decrease from $43 million in 2023.
    • Estimated capital expenditures for Evercore are $44 million for 2025, $80 million for 2026, and $76 million for 2027, with a primary focus for financial services in AI adoption, infrastructure, services, and research.

    Peer Outperformance in Investment Banking & Brokerage

    EVR has trailed 58% of its 12 Investment Banking & Brokerage peers over 5Y. Among the peers that beat it is IBKR. Investment Banking & Brokerage ranks 1st of 18 industries in Financials by median 5Y return. That makes it one of the strongest corners of the sector.
    Share of Investment Banking & Brokerage constituents that EVR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    15%
    of 13 industry peers · -3.3% return
    3Y
    38%
    of 13 industry peers · 132.0% return
    5Y
    42%
    of 12 industry peers · 140.0% return
    Investment Banking & Brokerage peers with revenue growth within 4pp of EVR's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
    Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
    EVR Evercore 24.9% 15.1x -3.3%132.0%140.0% —
    IBKR Interactive Brokers 21.3% 37.2x 51.0%317.6%522.7% +383pp
    Price returns, excluding dividends. P/E shown for context only and not used for matching.
    Median price return by industry across the Financials sector, ranked by 5Y. Investment Banking & Brokerage is EVR's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Investment Banking & Brokerage ← 13 8.3%136.4%140.0% IBKR 523% · SNEX 248% · GS 196%
    Reinsurance 6 21.2%87.9%118.9% SPNT 142% · MTG 132% · RGA 131%
    Diversified Banks 12 42.5%131.0%107.8% JPM 158% · CM 156% · RY 139%
    Life & Health Insurance 19 13.3%56.1%87.9% UNM 301% · FG 197% · MFC 177%
    Regional Banks 263 31.9%88.3%65.9% GCBC 395% · ESQ 362% · NBN 289%
    Property & Casualty Insurance 42 12.6%75.6%65.0% ASIC 2583900% · HRTG 431% · UVE 272%
    Multi-line Insurance 9 14.2%80.5%59.2% GNW 195% · L 103% · SLF 88%
    Consumer Finance 30 14.8%91.5%38.4% ENVA 674% · EZPW 411% · FCFS 185%
    Multi-Sector Holdings 6 1.5%17.5%34.5% JEF 86% · BRK-B 74% · VOYA 68%
    Insurance Brokers 15 -9.9%12.6%33.8% LIFE 644% · AJG 94% · ARX 87%
    Asset Management & Custody Banks 83 -5.7%24.7%26.3% SII 351% · WT 315% · VCTR 289%
    Financial Exchanges & Data 15 -0.4%15.2%17.7% VIRT 220% · CBOE 148% · CME 71%
    Commercial & Residential Mortgage Finance 12 -27.7%22.3%5.5% FNMA 542% · FMCC 514% · ESNT 62%
    Specialized Finance 3 24.6%55.3%3.6% EFC 38% · CACC 4% · HASI -12%
    Mortgage REITs 34 -4.4%16.9%-11.3% RITM 74% · NREF 55% · DX 43%
    Transaction & Payment Processing Services 15 3.3%7.8%-39.2% MA 68% · V 67% · CPAY 62%
    Diversified Capital Markets 21 -24.3%-3.3%-42.2% BTCS 584% · OPY 189% · LPLA 159%
    Diversified Financial Services 5 -3.2%63.8%-58.0% FRHC 183% · EQH 84% · TMS -58%
    Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

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    Peer Comparisons

    Peers to compare with:

    Financials

    EVRGSMSLAZHLIJEFMedian
    NameEvercore Goldman .Morgan S.Lazard Houlihan.Jefferie. 
    Mkt Price291.891,039.28214.2044.15129.0552.33171.62
    Mkt Cap11.3311.9332.94.58.611.011.1
    Rev LTM4,70966,20373,0533,2772,52311,8468,277
    Op Inc LTM---3655824,928582
    FCF LTM1,626-41,515-18,5826594851,779572
    FCF 3Y Avg1,027-48,099-16,717507520-993-243
    CFO LTM1,668-39,359-15,5876715002,006586
    CFO 3Y Avg1,069-46,007-13,459540560-793-126

    Growth & Margins

    EVRGSMSLAZHLIJEFMedian
    NameEvercore Goldman .Morgan S.Lazard Houlihan.Jefferie. 
    Rev Chg LTM45.4%17.8%18.8%6.3%1.7%13.8%15.8%
    Rev Chg 3Y Avg24.9%13.2%13.5%7.3%12.1%18.9%13.3%
    Rev Chg Q18.8%39.5%27.4%1.9%-15.5%25.0%21.9%
    QoQ Delta Rev Chg LTM3.4%9.5%6.2%0.5%-3.6%5.6%4.5%
    Op Inc Chg LTM----19.4%1.2%6.0%1.2%
    Op Inc Chg 3Y Avg---59.2%16.8%21.6%21.6%
    Op Mgn LTM---11.1%23.1%41.6%23.1%
    Op Mgn 3Y Avg---11.3%22.5%44.0%22.5%
    QoQ Delta Op Mgn LTM----1.7%-0.6%-0.3%-0.6%
    CFO/Rev LTM35.4%-59.5%-21.3%20.5%19.8%16.9%18.4%
    CFO/Rev 3Y Avg29.4%-83.8%-21.2%17.6%23.7%-9.2%4.2%
    FCF/Rev LTM34.5%-62.7%-25.4%20.1%19.2%15.0%17.1%
    FCF/Rev 3Y Avg28.2%-87.5%-26.6%16.5%21.9%-11.2%2.7%

    Valuation

    EVRGSMSLAZHLIJEFMedian
    NameEvercore Goldman .Morgan S.Lazard Houlihan.Jefferie. 
    Mkt Cap11.3311.9332.94.58.611.011.1
    P/S2.44.74.61.43.40.92.9
    P/Op Inc---12.314.72.212.3
    P/EBIT---11.314.72.411.3
    P/E15.114.916.519.721.112.315.8
    P/CFO6.8-7.9-21.46.717.25.56.1
    Total Yield7.9%8.7%8.1%9.3%6.9%11.5%8.4%
    Dividend Yield1.3%2.0%2.0%4.3%2.1%3.4%2.1%
    FCF Yield 3Y Avg9.4%-25.7%-7.3%12.3%5.2%-8.3%-1.1%
    D/E0.11.51.30.50.12.40.9
    Net D/E-0.00.90.80.2-0.01.10.5

    Returns

    EVRGSMSLAZHLIJEFMedian
    NameEvercore Goldman .Morgan S.Lazard Houlihan.Jefferie. 
    1M Rtn-12.9%-5.4%-1.4%2.5%-7.4%-5.8%-5.6%
    3M Rtn-15.5%4.7%7.1%-7.0%-14.5%1.4%-2.8%
    6M Rtn-10.6%13.8%23.4%-12.0%-22.4%-0.5%-5.6%
    12M Rtn-3.3%48.1%52.1%-13.5%-31.8%-8.9%-6.1%
    3Y Rtn132.0%249.7%183.0%37.6%35.1%66.1%99.0%
    1M Excs Rtn-16.4%-6.9%-3.5%0.2%-9.9%-8.7%-7.8%
    3M Excs Rtn-18.6%2.6%4.3%-9.4%-17.5%-2.6%-6.0%
    6M Excs Rtn-21.7%2.7%12.4%-23.1%-33.5%-11.6%-16.6%
    12M Excs Rtn-23.1%27.1%32.0%-33.8%-52.0%-29.2%-26.2%
    3Y Excs Rtn54.6%164.5%98.8%-36.6%-38.7%-8.1%23.2%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/5/20265/6/20262/20/202611/5/20258/7/20255/8/20252/21/202511/6/20248/2/20245/8/20242/22/202411/2/2023
    Key Financials Quarterly            
    Total Revenue9901,3921,2881,039834695975734689581784570
    Net Income95301204145971461407874868352
    EPS2.477.735.273.732.513.783.672.051.922.232.181.38
    Key Financials TTM            
    Total Revenue TTM4,7094,5533,8563,5433,2383,0942,9802,7882,6242,4352,4262,473
    Net Income TTM745747592528462439378321294258255313
    Growth Rates Quarterly            
    Total Revenue Growth18.8%100.3%32.1%41.5%21.0%19.6%24.4%28.8%38.0%1.5%-5.7%-1.2%
    Net Income Growth-2.0%106.1%45.2%84.4%31.8%70.6%69.7%50.3%98.2%2.8%-41.1%-36.7%
    Margins Quarterly            
    Net Income Margin9.6%21.6%15.8%13.9%11.7%21.0%14.4%10.7%10.7%14.8%10.6%9.1%
    Cash & Debt            
    Total Cash1,4751,8781,4661,7051,0887689401,2151,0531,4356521,630
    Total Debt1,0931,0981,1551,133930933923850835839844846
    Net Debt / (Cash)-382-780-311-572-158165-16-364-218-596193-785
    Cash Flows Quarterly            
    FCF from Operations526-226807561438-550686234348-281416248
    Cash Flows TTM            
    FCF from Operations TTM1,6681,5801,2561,135809720988717731561458417
    Returns to Shareholders Quarterly            
    Dividends355032333346313131432929
    Share Repurchases11562117437444063010055265341
    Return on Invested Capital (ROIC) Quarterly            
    ROIC-----271.8%----191.1%-
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM-----290.1%----148.0%-

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Investment Banking & Equities3,7682,8982,3562,6963,224
    Investment Management8881706666
    Total3,8562,9802,4262,7623,289


    Operating Income by Segment
    $ Mil20152014201320122010
    Investment Banking & Equities1531621207042
    Investment Management-24910-4-8
    Total1291711306634


    Assets by Segment
    $ Mil20252024202320222021
    Investment Banking & Equities5,1854,0223,5423,4463,605
    Investment Management173152161175197
    Total5,3584,1743,7033,6213,803


    Price Behavior

    Price Behavior
    Market Price$291.89 
    Market Cap ($ Bil)11.4 
    First Trading Date08/14/2006 
    Distance from 52W High-23.4% 
       50 Days200 Days
    DMA Price$332.76$329.74
    DMA Trendindeterminatedown
    Distance from DMA-12.3%-11.5%
     3M1YR
    Volatility40.7%38.2%
    Downside Capture254.69217.58
    Upside Capture147.06166.20
    Correlation (SPY)54.6%59.6%
    EVR Betas & Captures as of 7/31/2026

     1M2M3M6M1Y3Y
    Beta3.091.801.821.851.801.68
    Up Beta1.660.981.501.401.621.65
    Down Beta3.281.611.791.851.711.72
    Up Capture319%217%192%214%252%681%
    Bmk +ve Days11223567138427
    Stock +ve Days11233265131411
    Down Capture363%203%191%184%153%110%
    Bmk -ve Days11212859114326
    Stock -ve Days11203161121342

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with EVR
    EVR-3.2%38.1%-0.00-
    Sector ETF (XLF)10.1%14.6%0.4465.0%
    Equity (SPY)21.1%12.9%1.2259.7%
    Gold (GLD)37.5%28.8%1.1017.4%
    Commodities (DBC)43.2%20.2%1.66-20.1%
    Real Estate (VNQ)12.9%13.8%0.6437.3%
    Bitcoin (BTCUSD)-35.4%43.5%-0.8829.9%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with EVR
    EVR18.4%36.2%0.54-
    Sector ETF (XLF)10.1%18.4%0.4174.1%
    Equity (SPY)12.9%17.2%0.5770.1%
    Gold (GLD)20.6%18.6%0.907.8%
    Commodities (DBC)10.4%19.6%0.419.4%
    Real Estate (VNQ)2.3%18.9%0.0250.8%
    Bitcoin (BTCUSD)9.1%52.7%0.3632.7%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with EVR
    EVR21.5%36.7%0.64-
    Sector ETF (XLF)13.5%22.0%0.5674.7%
    Equity (SPY)15.2%17.9%0.7268.7%
    Gold (GLD)12.7%16.2%0.642.8%
    Commodities (DBC)8.0%18.0%0.3621.5%
    Real Estate (VNQ)5.0%20.7%0.2051.5%
    Bitcoin (BTCUSD)62.2%66.1%1.0221.3%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date7312026
    Short Interest: Shares Quantity1.3 Mil
    Short Interest: % Change Since 715202613.5%
    Average Daily Volume0.6 Mil
    Days-to-Cover Short Interest2.3 days
    Basic Shares Quantity38.6 Mil
    Short % of Basic Shares3.5%

    Returns Analyses

    Earnings Returns History

    Updated 8/7/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/29/2026-10.5%-6.1% 
    4/29/2026-4.8%-4.2%1.9%
    2/4/20265.2%6.9%-10.4%
    10/29/2025-9.1%-7.5%-1.4%
    7/30/20252.5%-1.3%7.2%
    4/30/20253.2%3.4%18.1%
    2/5/20250.8%-6.1%-25.4%
    10/23/2024-6.5%-3.8%9.3%
    ...
    SUMMARY STATS   
    # Positive91015
    # Negative15148
    Median Positive3.2%3.5%5.8%
    Median Negative-3.5%-4.1%-6.5%
    Max Positive6.0%13.3%19.3%
    Max Negative-10.5%-9.1%-25.4%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/29/2026-10.5%-6.1% 
    4/29/2026-4.8%-4.2%1.9%
    2/4/20265.2%6.9%-10.4%
    10/29/2025-9.1%-7.5%-1.4%
    7/30/20252.5%-1.3%7.2%
    4/30/20253.2%3.4%18.1%
    2/5/20250.8%-6.1%-25.4%
    10/23/2024-6.5%-3.8%9.3%
    7/24/2024-3.2%1.2%-1.9%
    4/24/2024-4.8%-7.4%2.9%
    1/31/2024-2.6%-1.5%6.6%
    10/25/2023-3.5%-0.6%11.8%
    7/26/2023-3.0%-3.9%-5.7%
    4/26/2023-8.5%-9.1%-9.5%
    2/1/20231.5%2.5%1.6%
    10/26/20224.6%13.3%19.3%
    7/27/20222.1%3.8%4.8%
    4/27/2022-0.9%3.6%2.2%
    2/2/2022-0.5%1.0%-1.9%
    10/27/2021-6.6%-5.4%-7.3%
    7/28/2021-1.2%-3.7%3.6%
    4/28/2021-0.6%-0.7%3.5%
    2/3/20214.0%1.7%5.8%
    10/21/20206.0%5.5%13.6%
    SUMMARY STATS   
    # Positive91015
    # Negative15148
    Median Positive3.2%3.5%5.8%
    Median Negative-3.5%-4.1%-6.5%
    Max Positive6.0%13.3%19.3%
    Max Negative-10.5%-9.1%-25.4%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/05/202610-Q
    03/31/202605/06/202610-Q
    12/31/202502/20/202610-K
    09/30/202511/05/202510-Q
    06/30/202508/07/202510-Q
    03/31/202505/08/202510-Q
    12/31/202402/21/202510-K
    09/30/202411/06/202410-Q
    06/30/202408/02/202410-Q
    03/31/202405/08/202410-Q
    12/31/202302/22/202410-K
    09/30/202311/02/202310-Q
    06/30/202308/03/202310-Q
    03/31/202305/05/202310-Q
    12/31/202202/24/202310-K
    09/30/202211/03/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/05/202610-Q
    03/31/202605/06/202610-Q
    12/31/202502/20/202610-K
    09/30/202511/05/202510-Q
    06/30/202508/07/202510-Q
    03/31/202505/08/202510-Q
    12/31/202402/21/202510-K
    09/30/202411/06/202410-Q
    06/30/202408/02/202410-Q
    03/31/202405/08/202410-Q
    12/31/202302/22/202410-K
    09/30/202311/02/202310-Q
    06/30/202308/03/202310-Q
    03/31/202305/05/202310-Q
    12/31/202202/24/202310-K
    09/30/202211/03/202210-Q
    06/30/202208/03/202210-Q
    03/31/202205/06/202210-Q
    12/31/202102/24/202210-K
    09/30/202111/03/202110-Q
    06/30/202108/03/202110-Q
    03/31/202105/06/202110-Q
    12/31/202002/25/202110-K
    09/30/202011/02/202010-Q
    06/30/202008/04/202010-Q
    03/31/202005/05/202010-Q
    12/31/201902/25/202010-K
    09/30/201910/31/201910-Q

    Insider Activity

    Updated 6/15/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Lalonde, Timothy GilbertChief Financial OfficerDirectSell6152026343.067,8082,678,59511,938,408Form
    2Williamson, Sarah K DirectBuy3102026290.432,000580,8603,875,788Form
    3Klurfeld, JasonGeneral CounselDirectSell2062026360.005,0001,800,00017,772,480Form
    4Pensa, PaulContr, Prin. Acct.OfficerDirectSell2062026350.311,450507,9501,759,257Form
    5Carlton, Pamela G DirectSell12112025343.1119265,8771,194,366Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Lalonde, Timothy GilbertChief Financial OfficerDirectSell6152026343.067,8082,678,59511,938,408Form
    2Williamson, Sarah K DirectBuy3102026290.432,000580,8603,875,788Form
    3Klurfeld, JasonGeneral CounselDirectSell2062026360.005,0001,800,00017,772,480Form
    4Pensa, PaulContr, Prin. Acct.OfficerDirectSell2062026350.311,450507,9501,759,257Form
    5Carlton, Pamela G DirectSell12112025343.1119265,8771,194,366Form
    6Lalonde, Timothy GilbertChief Financial OfficerDirectSell8072025295.448,4072,483,76411,068,069Form
    7Klurfeld, JasonGeneral CounselDirectSell8052025285.855,5001,572,17517,061,529Form

    Investor Activity (13F)

    Updated Aug 22, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Cander Asset Management LP$10.6 Mil1.9%43New13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Cander Asset Management LP$10.6 Mil1.9%43New13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Azora Capital LP$40.2 Mil2.5%47Exited13F
    Thames Capital Management LLC$16.0 Mil2.3%48Exited13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Cander Asset Management LP$10.6 Mil1.9%43New13F

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    Core Cache Last Updated: 8/21/2026