Recent News
Oct. 28, 2025 — Evercore released third-quarter 2025 results reporting record quarterly net revenues above $1.0 billion and reaffirming a quarterly dividend of $0.84 per share. Sep. 24, 2025 — Evercore announced an inaugural Digital Finance Summit for Oct. 8, 2025 to explore stablecoin and blockchain adoption. Oct. 1, 2025 — Evercore Wealth Management named Kait Oliveira managing director and portfolio manager.
Technical Analysis
Directional indicators: DI+ measures 22.03 and trends upward while DI- measures 20.97 and trends downward; that combination signals bullish directional pressure, though ADX registers 16.89, placing directional strength below the threshold for a confirmed trend and implying limited trend conviction.
MACD behavior shows a dip-and-reversal with MACD at -1.82 crossing above the signal line at -3.46, a bullish momentum signal that supports near-term upside bias and aligns with the improving DI+ reading.
MRO registers -22.2 with a peak-and-reversal pattern. The negative MRO implies price sits below the model target and therefore carries potential to move higher, while the peak-and-reversal shape warns that momentum recently peaked and experienced a pullback from that extreme.
RSI stands at 50.1 with a dip-and-reversal pattern, reflecting neutral-to-firm technical momentum after a short pullback; this level supports further consolidation near current prices rather than extreme overbought or oversold behavior.
Price versus moving averages and bands: the close at $317.30 trades above the 20-day average ($307.65) and well above the 200-day average ($268.80), while sitting slightly below the 50-day average ($318.71). Price exceeded the 1x Bollinger upper band ($315.74), indicating short-term extension that can invite mean reversion back toward short-term averages if momentum stalls.
Volatility and breadth: 42-day beta at 1.57 and 52-week beta at 1.84 imply above-market sensitivity; trading volume recently ran below 10-, 50- and 200-day averages, suggesting moves carry lower immediate conviction from broad volume participation.
Fundamental Analysis
Earnings and estimates: trailing diluted EPS registered $3.41 versus an estimate of $2.94, producing an EPS surprise of +16.0%. Forward EPS reads $3.515, yielding a forward P/E of 88.65x. Quarterly results showed net revenues above $1.0 billion for Q3 2025 and continued dividend maintenance at $0.84 per share.
Growth rates: revenue growth measured 24.6% on the primary metric and revenue growth year-over-year tallied 276.7% using the supplied YoY figure; earnings growth displays 40.9% on the principal metric with earnings growth year-over-year at 222.0%. Quarter-over-quarter dynamics showed revenue QoQ up 22.93% and earnings QoQ showing a negative movement on the supplied QoQ figure; report-level context shows recent quarters produced accelerating top-line and bottom-line dollar gains.
Profitability and cash flow: return on equity stands at 8.0% and return on assets at 3.57%. Operating cash flow reached $560,913,000 with free cash flow at $541,479,000 and a free cash flow yield of 4.44%. Free cash flow growth displays a strong positive annual change on the supplied metric, though the shorter-term QoQ series shows contraction.
Capital structure and liquidity: cash balances total $988,666,000 while total debt amounts to $1,132,965,000. Debt-to-assets records 25.62% and debt-to-equity reads 62.61%, above the industry peer mean debt-to-equity of 21.50%, indicating comparatively higher leverage versus the industry peer mean.
Valuation multiples versus industry peers: trailing P/E stands at 92.8x versus an industry peer mean of 98.0x and median of 112.8x, placing the multiple below the industry peer mean. Price-to-book at 6.74 sits above the industry peer mean book multiple of 4.82 and median of 5.61. Free cash flow yield at 4.44% falls below the industry peer mean of 9.70% and median levels reported for peers.
Dividend and shareholder returns: dividend yield measures 0.27% with a payout ratio of 22.70% and dividend coverage near 4.40x, supporting a sustainable, modest-income profile relative to cash flows.
Valuation conclusion: WMDST values the stock as over-valued. The valuation assessment reflects elevated multiples relative to peer medians for book and cash-return metrics despite strong recent revenue and earnings acceleration and solid free cash flow generation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-29 |
| NEXT REPORT DATE: | 2026-01-28 |
| CASH FLOW | Begin Period Cash Flow | $ 627.2 M |
| Operating Cash Flow | $ 560.9 M | |
| Capital Expenditures | $ -19.43 M | |
| Change In Working Capital | $ 226.5 M | |
| Dividends Paid | $ -32.82 M | |
| Cash Flow Delta | $ 234.3 M | |
| End Period Cash Flow | $ 861.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.0 B | |
| Forward Revenue | $ 243.5 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 157.0 K | |
| Depreciation and Amortization | $ 157.0 K | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | — | |
| Interest Expense | $ 7.1 M | |
| Net Interest Income | $ -7.11 M | |
| Income Before Tax | $ 217.3 M | |
| Tax Provision | $ 59.8 M | |
| Tax Rate | 27.518 % | |
| Net Income | $ 144.6 M | |
| Net Income From Continuing Operations | $ 157.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 2.94 | |
| EPS Actual | $ 3.41 | |
| EPS Difference | $ 0.47 | |
| EPS Surprise | 15.986 % | |
| Forward EPS | $ 3.52 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 4.4 B | |
| Intangible Assets | $ 128.6 M | |
| Net Tangible Assets | $ 1.7 B | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 988.7 M | |
| Net Receivables | $ 523.3 M | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 37.5 M | |
| Short-Term Debt | $ 48.0 M | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | $ 1.1 B | |
| Total Liabilities | $ 2.3 B | |
| EQUITY | ||
| Total Equity | $ 1.8 B | |
| Retained Earnings | $ 2.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 46.93 | |
| Shares Outstanding | 38.558 M | |
| Revenue Per-Share | $ 26.94 | |
| VALUATION | Market Capitalization | $ 12.2 B |
| Enterprise Value | $ 13.3 B | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 12.832 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.444 | |
| Asset To Liability | 1.893 | |
| Debt To Capital | 0.385 | |
| Debt To Assets | 0.256 | |
| Debt To Assets QoQ | 1.687 % | |
| Debt To Assets YoY | 2310.16 % | |
| Debt To Assets IPRWA | high: 0.284 EVR: 0.256 mean: 0.043 low: 0.005 median: 0.005 |
|
| Debt To Equity | 0.626 | |
| Debt To Equity QoQ | 11.476 % | |
| Debt To Equity YoY | 2470.361 % | |
| Debt To Equity IPRWA | high: 0.785 EVR: 0.626 mean: 0.215 median: 0.177 low: -0.611 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 6.741 | |
| Price To Book QoQ | 0.577 % | |
| Price To Book YoY | 12.182 % | |
| Price To Book IPRWA | high: 9.603 EVR: 6.741 median: 5.606 mean: 4.82 low: -4.352 |
|
| Price To Earnings (P/E) | 92.772 | |
| Price To Earnings QoQ | -14.599 % | |
| Price To Earnings YoY | -23.041 % | |
| Price To Earnings IPRWA | high: 155.691 median: 112.772 mean: 98.017 EVR: 92.772 low: 56.855 |
|
| PE/G Ratio | 2.268 | |
| Price To Sales (P/S) | 11.742 | |
| Price To Sales QoQ | -11.746 % | |
| Price To Sales YoY | -7.852 % | |
| Price To Sales IPRWA | high: 14.397 EVR: 11.742 median: 10.587 mean: 10.365 low: 1.751 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 88.65 | |
| Forward PE/G | 2.167 | |
| Forward P/S | 50.102 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.256 | |
| Asset Turnover Ratio QoQ | 6.912 % | |
| Asset Turnover Ratio YoY | 20.068 % | |
| Asset Turnover Ratio IPRWA | high: 0.262 EVR: 0.256 mean: 0.071 low: 0.014 median: 0.014 |
|
| Receivables Turnover | 2.063 | |
| Receivables Turnover Ratio QoQ | 17.891 % | |
| Receivables Turnover Ratio YoY | 9.091 % | |
| Receivables Turnover Ratio IPRWA | high: 6.387 EVR: 2.063 mean: 1.568 low: 0.036 median: 0.036 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 44.238 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 44.238 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | -95.939 % | |
| Cash Conversion Cycle Days IPRWA | high: 265.495 median: 62.564 mean: 46.747 EVR: 44.238 low: -38.293 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.019 | |
| CapEx To Depreciation | -123.783 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.3 B | |
| Net Invested Capital | $ 2.4 B | |
| Invested Capital | $ 2.4 B | |
| Net Tangible Assets | $ 1.7 B | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 0.5 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 4.405 | |
| Dividend Payout Ratio | 0.227 | |
| Dividend Rate | $ 0.85 | |
| Dividend Yield | 0.003 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 19.855 % | |
| Revenue Growth | 24.592 % | |
| Revenue Growth QoQ | 22.929 % | |
| Revenue Growth YoY | 276.658 % | |
| Revenue Growth IPRWA | EVR: 24.592 % high: 13.736 % median: 9.518 % mean: 9.152 % low: -2.322 % |
|
| Earnings Growth | 40.909 % | |
| Earnings Growth QoQ | -233.432 % | |
| Earnings Growth YoY | 221.941 % | |
| Earnings Growth IPRWA | high: 44.444 % EVR: 40.909 % mean: 16.431 % low: 11.765 % median: 11.765 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 541.5 M | |
| Free Cash Flow Yield | 4.439 % | |
| Free Cash Flow Yield QoQ | 19.617 % | |
| Free Cash Flow Yield YoY | 83.203 % | |
| Free Cash Flow Yield IPRWA | high: 15.594 % median: 15.594 % mean: 9.701 % EVR: 4.439 % low: 0.467 % |
|
| Free Cash Growth | 31.526 % | |
| Free Cash Growth QoQ | -118.296 % | |
| Free Cash Growth YoY | -194.189 % | |
| Free Cash Growth IPRWA | high: 59.768 % EVR: 31.526 % mean: -25.451 % median: -37.347 % low: -45.821 % |
|
| Free Cash To Net Income | 3.745 | |
| Cash Flow Margin | 9.855 % | |
| Cash Flow To Earnings | 0.708 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.565 % | |
| Return On Assets QoQ | 27.641 % | |
| Return On Assets YoY | 56.497 % | |
| Return On Assets IPRWA | high: 3.732 % EVR: 3.565 % mean: 0.886 % low: 0.138 % median: 0.138 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.08 | |
| Return On Equity QoQ | 36.046 % | |
| Return On Equity YoY | 58.689 % | |
| Return On Equity IPRWA | high: 0.1 EVR: 0.08 median: 0.052 mean: 0.051 low: -0.02 |
|
| DuPont ROE | 8.346 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |