Evercore Reports Record Revenues in 2025

By Chris Stiles • Wednesday, February 04 12:01 • Permanent Link

Evercore Inc. has reported record fourth quarter and full year 2025 revenues, with net revenues of $1.3 billion and $3.9 billion, respectively, on both a U.S. GAAP and an adjusted basis. This represents an increase of 32% and 29%, respectively, compared to the same periods in 2024.

The operating income for the fourth quarter of 2025 was $312.2 million on a U.S. GAAP basis and $337.4 million on an adjusted basis, marking an increase of 47% and 55%, respectively, compared to the fourth quarter of 2024. Furthermore, the fourth quarter operating margins of 24.2% and 26.0% on a U.S. GAAP and an adjusted basis, respectively, increased by 244 and 379 basis points, respectively, versus 2024.

In terms of net income attributable to Evercore Inc., the company reported $204.0 million for the fourth quarter of 2025, compared to $140.4 million in the fourth quarter of 2024. For the full year, net income attributable to Evercore Inc. was $591.9 million, compared to $378.3 million in 2024.

The diluted earnings per share for the fourth quarter of 2025 were $4.76 on a U.S. GAAP basis and $5.13 on an adjusted basis, compared to $3.30 and $3.41 for the same period in 2024. For the full year, diluted earnings per share were $14.05 on a U.S. GAAP basis and $14.56 on an adjusted basis, compared to $9.08 and $9.42 in 2024.

In terms of business highlights, Evercore advised on several significant transactions, including Warner Bros. Discovery's business separation and ~$82.7 billion sale of Warner Bros. to Netflix, Axalta's ~$25 billion merger with AkzoNobel, and Cidara Therapeutics' ~$9.2 billion sale to Merck.

Moreover, Evercore's underwriting revenues were up 14% in 2025, and the company acted as a bookrunner on all of its equity transactions. The equities business also experienced its best year on record and saw nine consecutive quarters of year-over-year revenue improvement.

The company also returned $812.4 million to shareholders during 2025 through dividends and repurchases of 2.4 million shares at an average price of $275.42.

The market has reacted to these announcements by moving the company's shares -1.12% to a price of $378.84. For more information, read the company's full 8-K submission here.

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