EVREvercore Inc.

Investment Advice

Revenue: $3.9B; 29% YoY
Operating margin: —
EBITDA: —
Market cap: $12.1B
Employees: 2,570; $2M revenue each
Net debt / EBITDA: —
AI in 10-K: 0.3; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 1 of 7

TSR below peersNo
2 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
212% of net income
Cash flow under 80% of net income
Dilutive SBCYes
17% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
11% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
5% of assets
Over 40% of assets
Shareholder dissentNo
—
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
$2M · 67th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.3 per 10K words · 17th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedNo
$12.1B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$4M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$3.3B	$2.8B	$2.4B	$3.0B	$3.9B	29%
Net income	$740M	$477M	$255M	$378M	$592M	57%
Operating cash flow	$1.4B	$531M	$458M	$988M	$1.3B	27%
Capex	$28M	$23M	$20M	$30M	$74M	146%
Stock-based comp	$422M	$467M	$515M	$570M	$675M	18%
Dividends	$119M	$127M	$128M	$136M	$144M	6.3%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Feb 12, 2025	HYMAN EDWARD S	SCHEDULE 13D/A	4.3%	Passive
Feb 25, 2022	HYMAN EDWARD S	SC 13D	5.2%	Passive

Insider trading

Open-market buys, 12 mo: $581K · 1
Open-market sells, 12 mo: $5M · 4
Net: −$4M

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	—	—	341	203
FY2024	—	—	275	177
FY2023	—	—	167	135
FY2022	—	—	104	121
FY2021	—	—	126	135