At a glance
Evercore Partners Inc is worth $11.24B, about 21 times its fiscal 2025 earnings. Revenue grew 29.5% to $3.88B in fiscal 2025, with 15.3% kept as profit; over 5 years it has grown 11.2% a year. It pays a 1.18% dividend yield, raised every year for at least 9 years, and returned $654.1M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −8.1% over the past year with dividends reinvested and +15.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 55.8% in the 2020 crash (S&P 500: 33.7%) and 41.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months and 10 months after the lows.
The business in plain English
Evercore is an investment bank that sells advice, not loans. Companies, boards and private equity firms hire it when they buy or sell businesses, fend off activist investors, raise money or restructure debt. It calls itself "independent": it does no commercial banking or significant trading with its own money. It says this avoids conflicts of interest that big, multi-product banks can face. Citing Refinitiv data, Evercore ranks itself the world's leading independent investment bank by dollar value of announced mergers and acquisitions (M&A) advised over a five-year span.
Nearly all revenue comes from the Investment Banking & Equities segment: $3.69 billion in 2025, or 98% of revenue excluding other revenue. M&A advice is the core, alongside smaller restructuring and capital-raising practices. Fees come one assignment at a time; the firm earned 806 advisory and underwriting (selling new securities for clients) fees in 2025. Its Evercore ISI unit sells stock research and agency trading (trading on clients' behalf, not its own) to more than 1,200 institutional investors.
The Investment Management segment is small: $87.4 million, or 2% of revenue, in 2025. Evercore Wealth Management, which serves wealthy individuals, foundations and endowments, managed $15.5 billion as of December 31, 2025. The 10-K gives no clean split by region, though Evercore says a meaningful portion of revenue comes from international operations.
Price history
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EVR -8.1% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $998.5M, up 19.1% from a year earlier, and net income was $95.3M (-2.0%).
- For fiscal 2025, revenue was $3.88B (+29.5% year over year; +11.2% a year from FY2020 to FY2025) with a 15.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +11.2% good |
|---|---|
| Free cash flow margin | 30.5% good |
| Return on equity (FY2025) | 29.1% good |
| Return on assets (FY2025) | 11% good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.29B | $350.6M | $925.0M |
| FY2021 | $3.31B | $740.1M | $1.36B |
| FY2022 | $2.78B | $476.5M | $508.2M |
| FY2023 | $2.44B | $255.5M | $437.9M |
| FY2024 | $3.00B | $378.3M | $958.0M |
| FY2025 | $3.88B | $591.9M | $1.18B |
Valuation snapshot
| Market value | $11.24B |
|---|---|
| P/E ratio | 20.8 |
| Dividend yield | 1.18% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| EVR price data to Oct 28, 2026 | -13.3% | -8.1% | +33.9% | +15.9% | +20.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -13.3% |
| 2025 | +24.3% |
| 2024 | +64.3% |
| 2023 | +60.5% |
| 2022 | -17.6% |
| 2021 | +26.3% |
| 2020 | +51.8% |
| 2019 | +7.4% |
| 2018 | -18.9% |
| 2017 | +33.4% |
| 2016 | +30.1% |
| 2015 | +5.5% |
| 2014 | -10.7% |
| 2013 | +103.1% |
| 2012 | +17.0% |
| 2011 | -19.7% |
| 2010 | +14.3% |
| 2009 | +149.9% |
| 2008 | -39.8% |
| 2007 | -40.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 60.3% over that stretch · deepest drop along the way 74.2%, back to its old high 9.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 55.5% over that stretch · deepest drop along the way 55.8%, back to its old high 7.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 34.8% over that stretch · deepest drop along the way 41.4%, back to its old high 9.7 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 1 open-market purchases ($581K) and 3 sales ($5.0M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 11, 2026 | Timothy Gilbert LaLonde Chief Financial Officer | sell | $2.7M |
| Feb 6, 2026 | Jason Klurfeld General Counsel | sell | $1.8M |
| Mar 6, 2026 | Sarah K Williamson Director | buy | $581K |
| Feb 5, 2026 | Paul Pensa Contr, Prin. Acct.Officer | sell | $508K |
Who owns it
Large shareholders (13G filings)
| Vanguard Portfolio Management | 5.06% | Jun 30, 2026 |
| Vanguard Capital Management | 5.02% | Mar 31, 2026 |
| Wellington Management Group LLP | 5% | Dec 31, 2025 |
ETFs with the most weight in EVR
| SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF | 2.45% |
| QMID WisdomTree U.S. MidCap Quality Growth Fund | 0.78% |
| MDYG SPDR S&P 400 Mid Cap Growth ETF | 0.5% |
| IJK iShares S&P Mid-Cap 400 Growth ETF | 0.48% |
| SMLF iShares U.S. Small‑Cap Equity Factor ETF | 0.44% |
| MIDE Xtrackers S&P MidCap 400 Scored & Screened ETF | 0.39% |
| JHDV John Hancock U.S. High Dividend ETF | 0.33% |
| QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF | 0.32% |
What could go wrong
- Fewer deals mean much lower fees. Most bankers focus on M&A advice. When credit tightens, rates rise or markets turn volatile, deals shrink or stall. Fees can fall fast while many costs stay fixed, squeezing profits.
- Relies on senior bankers who can leave. Client relationships sit with senior bankers, analysts and executives who are not obligated to stay. Rivals may offer richer pay, and departures could take clients and revenue with them.
- No long-term contracts, tough competition. Advisory work is won one assignment at a time. Larger rivals can offer clients financing and other products Evercore does not, which can cost it mandates or force it to cut fees.
- Lumpy profits and a volatile share price. Results swing widely. Net income fell from about $740 million in fiscal 2021 to $255 million in fiscal 2023. Evercore warns uneven quarterly earnings can push its share price down.
- Reputation rests on conflict-free advice. Evercore's pitch is unconflicted advice. Mishandling a real or perceived conflict of interest, employee misconduct or unhappy clients could hurt its reputation, bring legal liability and drive clients away.
- Employees hold significant voting power. Employees control a significant share of the votes, and their interests may differ from outside shareholders'. Exchanges of Evercore LP partnership units for shares could also significantly raise the share count.
Recent events
- Quarterly results released
- Executive or board change
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Executive or board change
- Quarterly results released
- Quarterly results released
For income and retirement investors
Evercore pays a modest, growing dividend. Regular dividends per share have risen for at least nine straight years through fiscal 2025. They climbed from $2.35 in fiscal 2020 to $3.32 in fiscal 2025, about 7.2% a year. They kept rising even as earnings per share fell from $17.08 in fiscal 2021 to $6.37 in fiscal 2023. In fiscal 2025, dividends used 24.4% of earnings and 12.2% of free cash flow (cash left after running and investing in the business). The yield was just 1.18% as of October 28, 2026.
The share price is far bumpier. It fell 74% in the 2008 financial crisis, 56% in the 2020 COVID crash and 41% in the 2022 bear market. Each time it regained its old high within about 7 to 10 months of the low, but selling near a bottom would have locked in the loss. Like any single stock, Evercore carries more risk than a diversified fund.
Questions investors ask
How does Evercore make money?
Mostly from fees for financial advice. In 2025, its Investment Banking & Equities segment brought in $3.69 billion, or 98% of revenue excluding other revenue. Companies, boards and private equity firms pay it to advise on mergers, sales, activist defense, debt restructurings and capital raising. Its Evercore ISI unit sells research and agency trading to more than 1,200 institutional investors. The Investment Management segment, home to Evercore Wealth Management, supplied the other 2%.
Does Evercore raise its dividend every year?
Yes, so far. Regular dividends per share have increased for at least nine consecutive years through fiscal 2025, and the streak may be longer. The dividend reached $3.32 per share in fiscal 2025, up from $2.35 in fiscal 2020. It kept rising in fiscal 2022 and 2023 even as earnings fell. The yield was 1.18% as of October 28, 2026. Past increases do not guarantee future ones, especially with earnings this uneven.
Why is Evercore stock so volatile?
Because its fees depend on deal activity, which rises and falls with markets and the economy. Revenue fell from $3.31 billion in fiscal 2021 to $2.44 billion in fiscal 2023, then rebounded to $3.88 billion in fiscal 2025. The shares dropped 56% in the 2020 COVID crash and 41% in the 2022 bear market. In the year to October 28, 2026, they fell as much as 34.7% from a high, and their beta of 1.7 shows they swung more than the overall market.
How has Evercore stock performed over the long term?
Well over long stretches, with deep drops along the way. As of October 28, 2026, the stock gained about 20.6% a year over 10 years and 15.9% a year over five years. Over one year it lost 8.1%, and it was down 13.3% year to date. Calendar years show the swings: up 60.5% in 2023 and 64.3% in 2024, but down 17.6% in 2022 and 39.8% in 2008. Past returns do not predict future results.
Does Evercore have a lot of debt?
No, not compared with its cash. As of June 30, 2026, Evercore held about $2.40 billion in cash and investments against about $540 million of debt, leaving roughly $1.86 billion more cash than debt. Even so, its 10-K flags the risk that it may not generate enough cash to service all of its debt, and its revenue can fall sharply when deal activity slows.