Evercore Inc.
evercore.comWhat Do They Do?
Advises companies and financial sponsors on mergers and capital raising, and provides equity research and trading to institutional investors. Also provides wealth management and trust services to high-net-worth individuals, foundations and endowments.
10-K for FY2025, filed Feb 20, 2026Our Investment Banking & Equities segment includes our investment banking business and our equities business. In 2025, our Investment…View ↗
Our investment banking business provides strategic advisory, liability management and restructuring, capital markets advisory and private…View ↗
In our Equities business, Evercore ISI, our experienced research, sales and trading professionals deliver superior client service on a…View ↗
Evercore Wealth Management and Evercore Trust Company. Our U.S.-based Evercore Wealth Management serves high-net-worth individuals…View ↗
How Do They Make Money?
Most revenue comes from advising companies and financial sponsors on deals, with fees paid at engagement start, during the work, or when transactions are announced or close; underwriting fees come when offerings are complete. Research subscriptions run over their subscription period, while wealth management earns asset-based and fiduciary fees.
10-K for FY2025, filed Feb 20, 2026Investment Banking & Equities. Our Investment Banking & Equities segment earns fees from its clients for providing advice on mergers…View ↗
Advisory Fees – In general, advisory fees are paid at the time the Company signs an engagement letter, during the course of the engagement…View ↗
With respect to retainer, announcement and success fees in merger and acquisition ("M&A") transactions, there are no distinct performance…View ↗
Investment Management. Our Investment Management segment includes operations related to the Wealth Management business and interests in…View ↗
Management fees for third party clients generally represent a percentage of AUM. Fiduciary fees, which are generally a function of the size…View ↗
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10-K for FY2025, filed Feb 20, 2026
FY2025 revenue by reportable segment (Revenue from Contract with Customer) ↗
$3.9B
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10-K for FY2025, filed Feb 20, 2026
$3.9B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Investment Banking & Equities
|
98%
FY2022: 98%
|
Investment Banking & Equities, FY2025
$3.7B Sources
|
|
Investment Management
|
2.3%
FY2022: 2.3%
|
Investment Management, FY2025
$87.4M Sources
|
Who Are Their Customers?
Companies and financial sponsors hire Evercore for advice; institutional investors use its equity research and trading, while wealth clients work directly with dedicated teams.
10-K for FY2025, filed Feb 20, 2026Our investment banking business provides strategic advisory, liability management and restructuring, capital markets advisory and private…View ↗
In our Equities business, Evercore ISI, our experienced research, sales and trading professionals deliver superior client service on a…View ↗
Evercore Wealth Management and Evercore Trust Company. Our U.S.-based Evercore Wealth Management serves high-net-worth individuals…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 15 cents of every revenue dollar as net income in FY2025 and turned 30 cents into free cash flow.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
Growing. Revenue grew 17% in 4 years, from $3.3B in FY2021 to $3.9B in FY2025, about 4% a year.
Who Do They Compete With?
Competes with Bank of America, Barclays, Citigroup, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, UBS, Centerview, Houlihan Lokey, Lazard, Moelis, Perella Weinberg, PJT Partners, and Rothschild
10-K for FY2025, filed Feb 20, 2026Our investment banking competitors can generally be categorized into two main groups: (1) large universal banks and bulge bracket firms…View ↗
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