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Evercore Inc Class A EVR

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Stock XNYS Rating as of
$154.70 +2.54 (1.67%)
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Company Report

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U.S. Economic Expectations and Evercore's Earnings Should Be Stabilizing

Michael Wong

The end of Evercore’s revenue and earnings downturn should be near. Starting in the back half of 2020 and especially after successful COVID-19 vaccines were announced, merger and acquisition volume picked up, and Evercore subsequently grew revenue over 45% in 2021. Revenue in 2021 was abnormally high and was destined to normalize lower, in our opinion. The 16% decline in revenue in 2022 was partly due to normalization and partly due to the Federal Reserv and other central banks enacting more restrictive monetary policies to rein in inflation and the related prospect of a recession.

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Price vs Fair Value

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EVR is trading at a 11% discount.
Price
$152.16
Fair Value
$213.00
Uncertainty
High
1-Star Price
$154.84
5-Star Price
$712.50
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Evercore has historically been able to increase advisory revenue faster than peers, and its revenue productivity per senior managing director often surprises to the upside.

Bears

An uncertain global economic environment can keep revenue and earnings far below the record 2021 level for years.

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News

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Trading Information

Previous Close Price
$152.16
Day Range
$152.10–154.85
52-Week Range
$104.78–155.01
Bid/Ask
$154.64 / $154.80
Market Cap
$5.83 Bil
Volume/Avg
161,997 / 272,545

Key Statistics

Price/Earnings (Normalized)
17.25
Price/Sales
2.47
Dividend Yield
1.97%
Dividend Yield (Forward)
2.00%
Total Yield
9.67%

Company Profile

Evercore is an independent investment bank that derives the majority of its revenue from financial advisory, including merger, acquisition, and restructuring advisory. It also has institutional equities trading, equity underwriting, and investment management businesses that account for around 20% of net revenue. The company was founded in 1996 and went public in 2006. Evercore had approximately 1,800 employees at the end of 2022, and about 75% of its revenue is derived from the United States.
Sector
Financial Services
Industry
Capital Markets
Stock Style Box
Small Core
Total Number of Employees
2,230
Website
https://www.evercore.com

Competitors

Valuation

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Metric
EVR
LAZ
MS
Price/Earnings (Normalized)
 17.2541.2413.64
Price/Book Value
 4.107.691.46
Price/Sales
 2.471.172.64
Price/Cash Flow
 6.698.038.45
Price/Earnings
EVR
LAZ
MS

Financial Strength

Metric
EVR
LAZ
MS
Quick Ratio
 —2.76—
Current Ratio
 —2.82—
Interest Coverage
 —−0.67—
Quick Ratio
EVR
LAZ
MS

Profitability

Metric
EVR
LAZ
MS
Return on Assets (Normalized)
 12.23%1.51%0.83%
Return on Equity (Normalized)
 26.92%16.84%10.67%
Return on Invested Capital (Normalized)
 —3.37%—
Return on Assets
EVR
LAZ
MS

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