| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 75 | 15.9x | 17.8x | Top tier | |
Growth | 88 | 45.7% | 7.1% | Top tier | |
Quality | 98 | — | — | Top tier | |
Safety | 60 | — | — | Around median | |
Capital Return | 37 | 1.21% | 2.12% | Bottom tier | |
Momentum | 36 | -0.0% | 2.9% | Bottom tier | |
Sentiment | 43 | 7 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Evercore Inc. operates through a primarily fee-based financial services platform, generating revenue from strategic advisory, mergers and acquisitions, restructuring and liability management, private capital advisory, fund fundraising, underwriting and capital markets, institutional brokerage, and wealth management. In fiscal Q2 2026, advisory fees of approximately $776 million were the largest source of adjusted revenue, while underwriting fees contributed approximately $97 million, commissions and related revenue approximately $64 million, asset management and administration fees approximately $25 million, and net other revenue approximately $39 million. Non-M&A activities also generated more than 40% of total revenue for the twelve months ended fiscal Q2 2026, partially reducing the company's reliance on acquisition closings alone.
According to EDGAR filings, Evercore recorded revenue of $998.5 million, net income of $95.3 million, and earnings per share of $2.32 in fiscal Q2 2026. According to management's presentation, adjusted net revenue was approximately $1 billion, up 19% year over year, while adjusted operating income reached $190 million and adjusted earnings per share reached $2.91, up 21% and 20%, respectively. The adjusted operating margin reached 19% for the quarter, compared with 22.7% in the first half of fiscal 2026, while EDGAR net income reflects a net margin of approximately 9.5% of quarterly revenue.
Revenue for the first half of fiscal 2026 reached approximately $2.4 billion, up 56% year over year, while adjusted earnings per share reached $10.48, up 77%. Performance was broad-based: strategic advisory in North America, Private Funds Group, and equities generated record second-quarter revenue, while underwriting and wealth management recorded their best quarters ever, with wealth management assets under management reaching $16.2 billion on June 30, 2026. On a twelve-month basis, revenue reached $4.6 billion, net income $747 million, and earnings per share $17.85, compared with revenue of $3.9 billion and net income of $591.9 million in fiscal 2025.
The analyst consensus on EVR is “Buy,” with an average price target of $449.4, compared with a wide target range of $338 to $820. The average target is approximately 15.6% above the 52-week range high of $388.71, but the wide gap between the low and high targets reflects the valuation's sensitivity to deal-closing timing, continued underwriting growth, and the company's ability to bring the non-compensation expense ratio back toward the fiscal 2025 level of 14.2%. No published price-to-earnings ratio is available in the data, so the valuation assessment is based on analyst targets, the 52-week range, and twelve-month earnings per share of $17.85.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
According to EDGAR, Evercore recorded revenue of $998.5 million, net income of $95.3 million, and earnings per share of $2.32 in fiscal Q2 2026. On an adjusted basis, net revenue was approximately $1 billion and earnings per share were $2.91, up 19% and 20% year over year, respectively. Growth came from strength in strategic advisory in North America, Private Funds Group, and equities, along with the best quarter on record for underwriting and wealth management.
Adjusted advisory fees were approximately $776 million out of nearly $1 billion in adjusted revenue in fiscal Q2 2026, so deal closings remain a major driver. In contrast, non-M&A activities generated more than 40% of revenue for the twelve months ended that quarter. Diversification sources during the quarter included underwriting of $97 million, commissions of $64 million, and asset management and administration of $25 million.
Management said on July 29, 2026, that the backlog was near record levels, with strength in engagement letters, conflict checks, and client dialogue. It also expected activity to continue building gradually during the latter part of fiscal 2026 and fiscal 2027, without issuing numerical revenue guidance. The timing of conversion into revenue remains volatile because fiscal Q3 and Q4 2025 were record quarters and because advisory fee recognition is tied to transaction closings.
Automated analysis for informational purposes only — not investment advice.
Management explained on the July 29, 2026 call that artificial intelligence is prompting large companies to explore acquisitions to gain capabilities and scale, increasing strategic advisory dialogue. Disruption in software has also created liability management and restructuring opportunities, following a period of inactivity and then improvement in software deal dialogue. Internally, Evercore doubled its investment in artificial intelligence and data management, expenses that increase the cost base before their expected returns emerge in subsequent years.
The adjusted operating margin was 19% in fiscal Q2 2026 and 22.7% in the first half, while the non-compensation expense ratio rose to 17.5% in the quarter. The same ratio was 13.5% in the first half, and management is targeting a full-year result near the 14.2% recorded in fiscal 2025. The increase included investments in hiring, offices, technology, artificial intelligence, and data, along with bad debt, professional fees, conferences, and seasonal costs whose combined impact amounted to tens of millions of dollars.
The company returned $823 million to shareholders during the first half of fiscal 2026. This included $734 million in share repurchases at an average of approximately $325 per share, while it returned $150 million through repurchases and dividends in fiscal Q2 alone. On June 30, 2026, cash and investment securities totaled approximately $2.4 billion, and the adjusted diluted share count declined by more than 730 thousand shares compared with fiscal Q1 2026.
