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Evercore Inc Class A EVR

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Morningstar’s Analysis

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1-Star Price

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5-Star Price

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Economic Moat

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Capital Allocation

PREMIUM

Evercore Reports Near-Record Quarterly Revenue; Shares Fairly Valued

Michael Wong, CFA, CPA Sector Director

Analyst Note

| Michael Wong, CFA, CPA |

Evercore reported its second highest quarterly revenue in the third quarter of 2021, and we expect revenue to remain high for the foreseeable future but likely lower than in the recent quarter. The company reported net income to common shareholders of $160 million, or $3.74 per diluted share, on $824 million of net revenue. We don’t anticipate making a material change to our $142 fair value estimate for narrow-moat Evercore and assess shares are fairly valued.

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Company Profile

Business Description

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 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 2020, and about 75% of its revenue is derived from the United States.

Contact
55 East 52nd Street
New York, NY, 10055
T +1 212 857-3100
Sector Financial Services
Industry Capital Markets
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 1,950