Evercore net worth reflects its status as a premier investment banking firm.
As we dive into Evercore’s 2024 financial performance, Ando Money brings you a comprehensive look at revenue streams, growth metrics, and key financial insights.
Learn how this financial powerhouse stands among its peers.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Evercore Inc. |
| Full Name | Evercore Inc. |
| Website | www.evercore.com |
| Industry | Investment Banking and Financial Advisory |
| Traded as | NYSE: EVR |
| ISIN | N/A |
| Founded | 1995 |
| Founders | Roger Altman |
| Country/Territory | United States |
| Headquarters | New York, USA |
| Chief Executive Officer | John S. Weinberg |
| Number of Employees | Approximately 2,330 |
| Market Cap | $9.65 billion (2024) |
| Total Assets | $3.70 billion (2023) |
| Total Equity | $1.58 billion (2023) |
| Revenue (YTD June 2024) | $1.27 billion (U.S. GAAP) |
| Net Income (YTD June 2024) | $159.5 million (U.S. GAAP) |
What is the Net Worth/Market Cap Of Evercore in 2024?
As of October 2024, Evercore has a market cap of $9.65 billion, making it one of the notable companies in the financial advisory sector.
This valuation reflects its impressive performance and growth within the investment banking space.
Although not the largest financial firm globally, its positioning as the 1757th most valuable company places it within a competitive peer group.
Related companies in the same sector include:
- Goldman Sachs
- Morgan Stanley
- Lazard
- BlackRock
- JPMorgan Chase
- Bank of America Merrill Lynch
- UBS
- Credit Suisse
- Houlihan Lokey
- Wells Fargo
To learn more about the wealth status of some of the richest companies, check out our detailed list here.
Evercore Financial Performance Overview
Revenue Streams and Their Contribution to Financial Performance
Evercore’s revenue streams are primarily derived from its Investment Banking & Equities segment and Asset Management.
For the first half of 2024, net revenues totaled $1.27 billion (U.S. GAAP). Breaking this down:
- Advisory Fees make up a significant portion, totaling $568.2 million in Q2 2024, reflecting a 52% increase year-over-year. This fee structure is influenced by large global transactions and a diverse client base.
- Underwriting Fees brought in $31 million for the same quarter, though they saw a slight decrease of 19% compared to the previous year. Despite this, year-to-date underwriting activities show a 42% increase.
- Commissions and Trading Revenue stood at $53.2 million for Q2 2024, a 6% rise year-over-year. The upward trajectory was primarily driven by higher subscription fees and trading activities.
Asset Management and Wealth Services Revenue
The Asset Management and Administration Fees segment reached $19.2 million in Q2 2024, growing 16% from the prior year.
The increase was driven by rising fees from wealth management clients and the appreciation in the Assets Under Management (AUM), which reached $13.16 billion.
Operating Income and Margin Performance
Evercore’s operating income for Q2 2024 stands at $108.2 million under U.S. GAAP and $114.3 million on an adjusted basis.
The operating margin improved significantly, reflecting a mix of controlled compensation costs and growing revenues.
The firm’s compensation ratio slightly decreased to 66.6% (U.S. GAAP), a sign of efficient cost management, while the non-compensation costs were $122.0 million for Q2 2024, reflecting investments in professional fees, travel, and operational expenses.
Talent Acquisition and Its Influence on Revenue
Strategic hires have played a pivotal role in Evercore’s growth.
The firm onboarded key Investment Banking Senior Managing Directors, notably expanding expertise within the financial institutions sector.
The expansion of talent in both the U.S. and Paris has enhanced Evercore’s capabilities, contributing positively to revenue generation and providing opportunities to expand into new market segments.
Capital Return to Shareholders
Shareholder returns have been a strong focus for Evercore.
The quarterly dividend stood at $0.80 per share, while share repurchases during the first half of 2024 amounted to 1.8 million shares at an average price of $178.61.
This strategy ensures that the firm continues to deliver value to its investors.
Major Transactions and Deals Contributing to Revenue
Evercore has advised on some of the largest transactions globally in 2024. Notable deals include:
- General Electric’s spin-off of GE Vernova, valued at $36 billion.
- Synopsys’ acquisition of Ansys, a transaction worth $35 billion.
- ConocoPhillips’ acquisition of Marathon Oil for $22.5 billion.
Such significant deals have had a direct impact on advisory fees and have boosted Evercore’s financial performance.
Strategic Awards and Recognitions Boosting Financial Performance
Recognition for its excellence in M&A advisory has been a catalyst for Evercore’s growth.
The firm won the titles “Investment Bank of the Year for M&A” and “Investment Bank of the Year for Private Placements” from The Banker’s 2024 Investment Banking Awards.
These achievements not only enhance the firm’s reputation but also contribute to client acquisition and revenue.
Efficient Expense Management and Its Contribution to Financial Health
Evercore’s expense management remains strong. Employee compensation and benefits accounted for $846.6 million in the first half of 2024.
Non-compensation expenses, while up due to increased business activities, have been effectively balanced against rising revenues, maintaining healthy margins and profitability.
FAQs About Evercore
What Are Evercore’s Main Sources of Revenue?
Evercore generates its revenue primarily from advisory fees, underwriting fees, and commissions. A smaller but important portion comes from asset management and wealth services.
How Many Employees Does Evercore Have?
As of June 30, 2024, Evercore employs approximately 2,330 individuals globally, contributing to its broad financial advisory services.
What Awards Has Evercore Recently Won?
In 2024, the firm was recognized as the “Investment Bank of the Year for M&A” and “Investment Bank of the Year for Private Placements” by The Banker’s Investment Banking Awards.
How Does Evercore Return Value to Shareholders?
The firm returns value through quarterly dividends of $0.80 per share and share repurchases, amounting to $395.6 million returned to shareholders in the first six months of 2024.
Conclusion
Evercore’s financial performance in 2024 showcases its strong market presence and strategic growth.
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