Revenue climbed from $699.0M in 2025Q1 to about $1.4B in 2026Q1 while the efficiency ratio improved to 74.1%, though the 2026Q2 quarter showed EPS compressing to $2.32 on $990.2M of revenue, suggesting profitability remains lumpy.
Evercore Inc. (EVR) annual income statement — 22-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Net Interest Income | -34.24M | -24.26M | -16.77M | -16.72M | -16.85M | -17.59M | -21.41M | -20.14M | -17.77M | -20M | -16.74M | -16.98M | -15.54M | -14.01M | -15.3M | -19.39M | -22.84M | -24.27M | -30.28M | -18.45M | 765K | 209K | 145K |
| NII Growth % | -334.53% | -44.7% | -0.31% | 0.79% | 4.19% | 17.88% | -6.33% | -13.33% | 11.13% | -19.46% | 1.4% | -9.21% | -10.99% | 8.47% | 21.09% | 15.1% | 5.88% | 19.85% | -64.1% | -2511.9% | 266.03% | 44.14% | - |
| Net Interest Margin % | -0.65% | -0.45% | -0.4% | -0.45% | -0.47% | -0.46% | -0.64% | -0.77% | -0.84% | -1.26% | -1.01% | -1.15% | -1.07% | -1.19% | -1.34% | -1.86% | -2.54% | -2.72% | -4.1% | -2.68% | 0.25% | 0.26% | 0.2% |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.27M | 209K | 145K |
| Interest Expense | 34.24M | 24.26M | 16.77M | 16.72M | 16.85M | 17.59M | 21.41M | 20.14M | 17.77M | 20M | 16.74M | 16.98M | 15.54M | 14.01M | 15.3M | 19.39M | 22.84M | 24.27M | 30.28M | 18.45M | 8.5M | 0 | 0 |
| Loan Loss Provision | 33.62M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Non-Interest Income | 4.87B | 3.88B | 3B | 2.44B | 2.78B | 3.31B | 2.29B | 2.03B | 2.08B | 1.72B | 1.46B | 1.24B | 931.4M | 779.43M | 657.67M | 543.65M | 398.75M | 338.81M | 225.3M | 340.05M | 207.23M | 125.43M | 86.17M |
| Non-Interest Income % | 100.71% | 100.63% | 100.56% | 100.69% | 100.61% | 100.53% | 100.95% | 101% | 100.86% | 101.17% | 101.16% | 101.39% | 101.7% | 101.83% | 102.38% | 103.7% | 106.08% | 107.72% | 115.53% | 105.74% | 99.63% | 99.83% | 99.83% |
| Total Net Revenue | 4.84B | 3.86B | 2.98B | 2.43B | 2.76B | 3.29B | 2.26B | 2.01B | 2.06B | 1.7B | 1.44B | 1.22B | 915.86M | 765.43M | 642.37M | 524.26M | 375.9M | 314.55M | 195.03M | 321.6M | 208M | 125.64M | 86.32M |
| Revenue Growth % | 36.57% | 29.41% | 22.82% | -12.17% | -16.03% | 45.3% | 12.71% | -2.71% | 21.14% | 18.35% | 17.72% | 33.57% | 19.65% | 19.16% | 22.53% | 39.47% | 19.51% | 61.28% | -39.36% | 54.62% | 65.56% | 45.55% | - |
| Non-Interest Expense | 3.72B | 3.06B | 2.45B | 2.06B | 2.06B | 2.17B | 1.72B | 1.56B | 1.51B | 1.27B | 1.17B | 1.09B | 739.73M | 626.93M | 571.99M | 487.53M | 339.6M | 294.77M | 204.41M | 376.53M | 113.86M | 59.1M | 34.4M |
| Efficiency Ratio | 76.95% | 79.41% | 82.11% | 84.92% | 74.51% | 66.06% | 76.11% | 77.66% | 73.3% | 74.32% | 81.4% | 88.99% | 80.77% | 81.91% | 89.04% | 92.99% | 90.34% | 93.71% | 104.81% | 117.08% | 54.74% | 47.04% | 39.85% |
| Operating Income | 1.08B | 793.81M | 533.14M | 365.79M | 704.04M | 1.12B | 540.83M | 448.71M | 551.37M | 437.65M | 267.81M | 134.72M | 176.13M | 138.5M | 70.39M | 36.73M | 36.3M | 19.78M | -9.38M | -54.94M | 94.13M | 66.53M | 51.92M |
| Operating Margin % | 22.36% | 20.59% | 17.89% | 15.08% | 25.49% | 33.94% | 23.89% | 22.34% | 26.7% | 25.68% | 18.6% | 11.01% | 19.23% | 18.09% | 10.96% | 7.01% | 9.66% | 6.29% | -4.81% | -17.08% | 45.26% | 52.96% | 60.15% |
| Operating Income Growth % | - | 48.89% | 45.75% | -48.04% | -36.95% | 106.46% | 20.53% | -18.62% | 25.98% | 63.41% | 98.79% | -23.51% | 27.17% | 96.77% | 91.63% | 1.18% | 83.55% | 310.76% | 82.92% | -158.36% | 41.48% | 28.14% | - |
| Pretax Income | 1.04B | 793.81M | 533.14M | 365.79M | 704.04M | 1.12B | 540.83M | 448.71M | 551.37M | 437.65M | 267.81M | 134.72M | 176.13M | 138.5M | 70.39M | 36.73M | 36.3M | 19.78M | -9.38M | -54.94M | 94.13M | 66.53M | 51.92M |
| Pretax Margin % | 21.42% | 20.59% | 17.89% | 15.08% | 25.49% | 33.94% | 23.89% | 22.34% | 26.7% | 25.68% | 18.6% | 11.01% | 19.23% | 18.09% | 10.96% | 7.01% | 9.66% | 6.29% | -4.81% | -17.08% | 45.26% | 52.96% | 60.15% |
| Income Tax | 207.49M | 153.11M | 115.41M | 80.57M | 172.63M | 248.03M | 128.15M | 95.05M | 108.52M | 258.44M | 119.3M | 77.03M | 68.76M | 63.69M | 30.91M | 22.72M | 16.18M | 19.53M | 179K | 12.4M | 8.4M | 3.37M | 2.11M |
| Effective Tax Rate % | 20.02% | 19.29% | 21.65% | 22.03% | 24.52% | 22.21% | 23.7% | 21.18% | 19.68% | 59.05% | 44.55% | 57.18% | 39.04% | 45.98% | 43.91% | 61.87% | 44.56% | 98.76% | -1.91% | -22.57% | 8.92% | 5.07% | 4.07% |
| Net Income | 761.25M | 591.92M | 378.28M | 255.48M | 476.52M | 740.12M | 350.57M | 297.44M | 377.24M | 125.45M | 107.53M | 42.86M | 86.87M | 53.26M | 28.89M | 6.95M | 8.95M | -1.57M | -4.71M | -34.49M | 69.74M | 63.15M | 49.78M |
| Net Margin % | 15.73% | 15.35% | 12.7% | 10.53% | 17.25% | 22.5% | 15.49% | 14.81% | 18.27% | 7.36% | 7.47% | 3.5% | 9.49% | 6.96% | 4.5% | 1.33% | 2.38% | -0.5% | -2.42% | -10.73% | 33.53% | 50.27% | 57.67% |
| Net Income Growth % | 44.07% | 56.48% | 48.07% | -46.39% | -35.62% | 111.12% | 17.87% | -21.15% | 200.7% | 16.67% | 150.86% | -50.66% | 63.11% | 84.37% | 315.55% | -22.36% | 670.32% | 66.69% | 86.34% | -149.46% | 10.43% | 26.87% | - |
| Net Income (Continuing) | 829.02M | 640.71M | 417.74M | 285.22M | 531.41M | 868.57M | 412.68M | 353.66M | 442.85M | 179.21M | 148.51M | 57.69M | 107.37M | 74.81M | 39.48M | 14.01M | 20.13M | 246K | -9.56M | -67.34M | 85.73M | 63.16M | 49.81M |
| EPS (Diluted) | 18.60 | 14.05 | 9.08 | 6.37 | 11.61 | 17.08 | 8.22 | 6.89 | 8.33 | 2.80 | 2.43 | 0.98 | 2.08 | 1.38 | 0.89 | 0.23 | 0.39 | -0.10 | -0.36 | -3.38 | 10.97 | 15.81 | 12.46 |
| EPS Growth % | 44.98% | 54.74% | 42.54% | -45.13% | -32.03% | 107.79% | 19.3% | -17.29% | 197.5% | 15.23% | 147.96% | -52.88% | 50.72% | 55.06% | 286.96% | -41.03% | 490% | 72.22% | 89.35% | -130.81% | -30.61% | 26.89% | - |
| EPS (Basic) | - | 15.29 | 9.86 | 6.71 | 12.15 | 18.48 | 8.64 | 7.44 | 8.33 | 3.16 | 2.74 | 1.15 | 2.42 | 1.65 | 0.98 | 0.26 | 0.45 | -0.10 | -0.36 | -3.38 | 10.97 | 15.81 | 12.46 |
| Diluted Shares Outstanding | 40.92M | 44.38M | 41.65M | 40.1M | 41.04M | 43.32M | 42.62M | 43.19M | 45.28M | 44.83M | 44.19M | 43.7M | 41.84M | 38.48M | 32.55M | 29.4M | 22.97M | 15.54M | 13.07M | 10.22M | 6.36M | 4M | 4M |
Quick answers to the most common questions about buying EVR stock.
For fiscal year 2025, Evercore Inc. (EVR) reported total revenue of $3.86B. This represents a 4367.0% increase compared to $86.3M in 2004.
Evercore Inc. (EVR) is profitable, generating $591.9M in net income for the fiscal year ending 2025 with a net profit margin of 15.4%.
Evercore Inc. (EVR) reported an operating income of $793.8M, resulting in an operating profit margin of 20.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Evercore Inc. (EVR) generated $3.86B in gross profit for the year, representing a gross profit margin of 100.0%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Advisory revenue cyclicality
Metrics are mathematically derived from official filings.
Fee Income Drives Nearly All Revenue
As reported in the income statement data, Evercore's non-interest income represented roughly 100.7% of total revenue across the ten reported quarters, with net interest income contributing a negative figure of about -$8.3M in 2026Q3, indicating the earnings base is almost entirely advisory and fee-driven rather than balance-sheet driven.
The negative net interest line suggests that net interest income is not a meaningful earnings driver for this firm, which is consistent with an investment banking and advisory model rather than a lending franchise. Because the revenue stream is dominated by transaction-based advisory fees, earnings are likely to track deal activity and market cycles more closely than a traditional bank's spread income. Investors should monitor fee volatility quarter to quarter, as the reported revenue swings from $699.0M in 2025Q1 to roughly $1.4B in 2026Q1 illustrate how sensitive results are to the transaction calendar.
Efficiency Ratio Improving With Scale
Based on Evercore's reported figures, the efficiency ratio moved from 83.9% in 2025Q1 to 74.1% in 2026Q1, suggesting that compensation and non-interest expenses grew more slowly than revenue during the recent upcycle.
A decline in the efficiency ratio of roughly ten percentage points points to meaningful operating leverage as revenue scaled faster than the expense base. However, the ratio rose again to 85.9% in 2026Q2 before recovering to 79.0% in 2026Q3, which implies that margins remain sensitive to the timing of revenue recognition and fixed compensation commitments. Warrants further investigation into how much of the improvement reflects structural cost control versus episodic revenue strength.
Provision Activity Minimal Outside Recent Quarters
According to the reported income statement, provision expense was zero across most quarters from 2024Q2 through 2025Q4 and then appeared at $19.9M in 2026Q2 and $19.2M in 2026Q1, implying limited credit exposure for much of the period.
Because the provision line is largely absent, the credit cost profile appears driven by a small lending or receivables footprint rather than a large loan book. The reappearance of provisions in 2026 may indicate a new reserve build, but the data does not disclose the underlying cause, so any conclusion about deteriorating credit quality would be speculative. The 2026Q3 provision of -$5.5M, a release, suggests reserves were partially reversed, which investors should monitor against future reported figures.
2026 Revenue Step-Up Marks Inflection
Evercore's total revenue rose from $699.0M in 2025Q1 to about $1.4B in 2026Q1 and $1.2B in 2026Q3, with net income reaching $301.2M in 2026Q1 according to reported quarterly data, marking the most significant earnings inflection in the period.
The jump in revenue and earnings per share, with diluted EPS of $7.20 in 2026Q1 against $3.48 a year earlier, points to a strong advisory cycle concentrated in early 2026. Such a sharp step-up in earnings is typically tied to deal timing and may not be fully repeatable, so the quarterly run rate should be interpreted with caution. The subsequent slowdown to $990.2M in 2026Q2 underscores how lumpy this revenue base is.
Earnings Quality Depends on Deal Timing
Based on reported figures, Evercore's EPS swung from $7.20 in 2026Q1 to $2.32 in 2026Q2, a pattern suggesting that headline profitability may be sensitive to a small number of large transactions and to the timing of their closings.
The reported quarterly volatility challenges any extrapolation of peak-quarter earnings, as the 2026Q1 result appears to reflect a concentrated period of activity rather than a steady baseline. Peer context shows Lazard and Perella Weinberg with net margins of 7.6% and 4.7% respectively, while Evercore's reported profitability is considerably higher, which warrants further investigation into whether the gap reflects business mix or timing effects. Investors should monitor whether margins normalize as revenue reverts toward the lower-volume quarters.