Evercore Inc. has recently released its 10-K report, providing detailed insights into its financial condition and operations. Evercore operates as an independent investment banking firm across various regions including the Americas, Europe, Middle East, Africa, and Asia-Pacific. The company operates through two segments, Investment Banking & Equities, and Investment Management, offering strategic advisory services, private capital advisory, and fundraising, wealth management services, and more. The company was founded in 1995 and is headquartered in New York, New York.
The 10-K report provides a comprehensive overview of Evercore's financial measures, including key financial measures, revenue sources, and expenses. The report highlights that the company's total revenues reflect revenues from its Investment Banking & Equities and Investment Management business segments, including fees for services, transaction-related client reimbursements, and other revenue. Net revenues reflect total revenues less interest expense.
In the Investment Banking & Equities segment, Evercore earns fees from clients for providing advice on mergers, acquisitions, divestitures, capital raising, and other corporate finance matters. The report emphasizes that the amount and timing of the fees paid vary by the type of engagement or services provided. The majority of the company's revenue consists of advisory fees, which are dependent on the successful completion of client transactions. The report also details the revenue trends in the advisory and equities businesses, highlighting the factors that can impact the company's revenue results.
Regarding the Investment Management segment, the report outlines that revenue sources primarily include management fees, fiduciary fees, and gains (or losses) on investments. It also provides insights into transaction-related client reimbursements, other revenue, and interest expense, including a breakdown of the components included in these categories.
The report further delves into the company's expenses, including employee compensation and benefits, non-compensation expenses, and special charges. It provides detailed information on the various components of employee compensation and benefits, such as base salary, cash, deferred cash and equity bonus awards, and benefits programs. Additionally, the report discusses the Long-term Incentive Plans and the issuance of Class L Interests to certain named executive officers.
Furthermore, the 10-K report covers income from equity method investments, provision for income taxes, and noncontrolling interest, offering a comprehensive view of Evercore's financial condition and results of operations. Following these announcements, the company's shares moved -1.12%, and are now trading at a price of $378.84. If you want to know more, read the company's complete 10-K report here.
