Intrinsic value of Evercore Cl A - EVR

Previous Close

$96.60

  Intrinsic Value

$135.34

stock screener

  Rating & Target

buy

+40%

Previous close

$96.60

 
Intrinsic value

$135.34

 
Up/down potential

+40%

 
Rating

buy

Our model is not good at valuating stocks of financial companies, such as EVR.

We calculate the intrinsic value of EVR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  17.50
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
  5.19
  5.17
  5.15
  5.14
  5.13
  5.11
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.04
  5.03
  5.03
  5.03
  5.02
  5.02
  5.02
Revenue, $m
  1,457
  1,536
  1,618
  1,704
  1,794
  1,889
  1,988
  2,091
  2,200
  2,314
  2,433
  2,558
  2,689
  2,826
  2,971
  3,122
  3,281
  3,447
  3,622
  3,805
  3,997
  4,199
  4,411
  4,633
  4,866
  5,111
  5,368
  5,638
  5,921
  6,219
  6,531
Variable operating expenses, $m
 
  593
  624
  657
  691
  726
  763
  802
  843
  886
  931
  962
  1,011
  1,063
  1,117
  1,174
  1,233
  1,296
  1,362
  1,430
  1,503
  1,579
  1,658
  1,742
  1,830
  1,922
  2,018
  2,120
  2,226
  2,338
  2,455
Fixed operating expenses, $m
 
  664
  681
  698
  715
  733
  751
  770
  790
  809
  829
  850
  871
  893
  916
  938
  962
  986
  1,011
  1,036
  1,062
  1,088
  1,116
  1,143
  1,172
  1,201
  1,231
  1,262
  1,294
  1,326
  1,359
Total operating expenses, $m
  1,196
  1,257
  1,305
  1,355
  1,406
  1,459
  1,514
  1,572
  1,633
  1,695
  1,760
  1,812
  1,882
  1,956
  2,033
  2,112
  2,195
  2,282
  2,373
  2,466
  2,565
  2,667
  2,774
  2,885
  3,002
  3,123
  3,249
  3,382
  3,520
  3,664
  3,814
Operating income, $m
  261
  278
  313
  350
  388
  429
  473
  519
  567
  618
  673
  746
  807
  871
  938
  1,010
  1,085
  1,165
  1,249
  1,339
  1,433
  1,532
  1,637
  1,748
  1,865
  1,988
  2,119
  2,256
  2,402
  2,555
  2,716
EBITDA, $m
  286
  303
  338
  376
  415
  457
  501
  547
  596
  648
  703
  761
  822
  887
  956
  1,028
  1,105
  1,185
  1,271
  1,361
  1,456
  1,557
  1,663
  1,775
  1,893
  2,018
  2,150
  2,289
  2,436
  2,591
  2,755
Interest expense (income), $m
  14
  13
  4
  7
  11
  15
  19
  24
  28
  33
  38
  43
  49
  55
  61
  67
  74
  81
  88
  96
  104
  113
  122
  131
  141
  151
  162
  173
  185
  198
  211
Earnings before tax, $m
  268
  265
  309
  342
  377
  414
  454
  495
  539
  585
  635
  703
  758
  816
  877
  943
  1,011
  1,084
  1,161
  1,243
  1,329
  1,419
  1,515
  1,617
  1,724
  1,837
  1,957
  2,083
  2,216
  2,357
  2,505
Tax expense, $m
  119
  72
  83
  92
  102
  112
  122
  134
  146
  158
  171
  190
  205
  220
  237
  254
  273
  293
  314
  335
  359
  383
  409
  437
  465
  496
  528
  562
  598
  636
  676
Net income, $m
  108
  194
  226
  250
  275
  302
  331
  361
  393
  427
  463
  513
  553
  596
  641
  688
  738
  791
  848
  907
  970
  1,036
  1,106
  1,180
  1,259
  1,341
  1,428
  1,521
  1,618
  1,721
  1,829

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  638
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,662
  1,079
  1,137
  1,198
  1,261
  1,327
  1,397
  1,470
  1,546
  1,626
  1,710
  1,798
  1,890
  1,986
  2,088
  2,194
  2,305
  2,422
  2,545
  2,674
  2,809
  2,951
  3,100
  3,256
  3,420
  3,592
  3,773
  3,962
  4,161
  4,370
  4,589
Adjusted assets (=assets-cash), $m
  1,024
  1,079
  1,137
  1,198
  1,261
  1,327
  1,397
  1,470
  1,546
  1,626
  1,710
  1,798
  1,890
  1,986
  2,088
  2,194
  2,305
  2,422
  2,545
  2,674
  2,809
  2,951
  3,100
  3,256
  3,420
  3,592
  3,773
  3,962
  4,161
  4,370
  4,589
Revenue / Adjusted assets
  1.423
  1.424
  1.423
  1.422
  1.423
  1.424
  1.423
  1.422
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
  1.423
Average production assets, $m
  85
  89
  94
  99
  104
  110
  115
  121
  128
  134
  141
  148
  156
  164
  172
  181
  190
  200
  210
  221
  232
  244
  256
  269
  282
  296
  311
  327
  343
  361
  379
Working capital, $m
  463
  -152
  -160
  -169
  -178
  -187
  -197
  -207
  -218
  -229
  -241
  -253
  -266
  -280
  -294
  -309
  -325
  -341
  -359
  -377
  -396
  -416
  -437
  -459
  -482
  -506
  -531
  -558
  -586
  -616
  -647
Total debt, $m
  216
  52
  104
  159
  216
  276
  338
  404
  472
  544
  620
  699
  782
  869
  960
  1,056
  1,156
  1,261
  1,372
  1,488
  1,609
  1,737
  1,871
  2,011
  2,159
  2,314
  2,476
  2,647
  2,826
  3,014
  3,212
Total liabilities, $m
  1,135
  971
  1,023
  1,078
  1,135
  1,195
  1,257
  1,323
  1,391
  1,463
  1,539
  1,618
  1,701
  1,788
  1,879
  1,975
  2,075
  2,180
  2,291
  2,407
  2,528
  2,656
  2,790
  2,930
  3,078
  3,233
  3,395
  3,566
  3,745
  3,933
  4,131
Total equity, $m
  527
  108
  114
  120
  126
  133
  140
  147
  155
  163
  171
  180
  189
  199
  209
  219
  231
  242
  255
  267
  281
  295
  310
  326
  342
  359
  377
  396
  416
  437
  459
Total liabilities and equity, $m
  1,662
  1,079
  1,137
  1,198
  1,261
  1,328
  1,397
  1,470
  1,546
  1,626
  1,710
  1,798
  1,890
  1,987
  2,088
  2,194
  2,306
  2,422
  2,546
  2,674
  2,809
  2,951
  3,100
  3,256
  3,420
  3,592
  3,772
  3,962
  4,161
  4,370
  4,590
Debt-to-equity ratio
  0.410
  0.480
  0.920
  1.330
  1.710
  2.080
  2.420
  2.750
  3.060
  3.350
  3.620
  3.890
  4.140
  4.370
  4.600
  4.810
  5.010
  5.210
  5.390
  5.560
  5.730
  5.890
  6.040
  6.180
  6.310
  6.440
  6.560
  6.680
  6.790
  6.900
  7.000
Adjusted equity ratio
  -0.078
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  108
  194
  226
  250
  275
  302
  331
  361
  393
  427
  463
  513
  553
  596
  641
  688
  738
  791
  848
  907
  970
  1,036
  1,106
  1,180
  1,259
  1,341
  1,428
  1,521
  1,618
  1,721
  1,829
Depreciation, amort., depletion, $m
  25
  25
  26
  26
  27
  27
  28
  28
  29
  30
  30
  15
  16
  17
  17
  18
  19
  20
  21
  22
  23
  25
  26
  27
  29
  30
  31
  33
  35
  36
  38
Funds from operations, $m
  376
  219
  251
  276
  302
  330
  359
  390
  422
  457
  494
  528
  569
  612
  658
  706
  758
  812
  869
  929
  993
  1,061
  1,132
  1,207
  1,287
  1,371
  1,460
  1,554
  1,653
  1,757
  1,867
Change in working capital, $m
  -40
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
  -29
  -31
Cash from operations, $m
  416
  226
  259
  284
  311
  339
  369
  400
  433
  468
  505
  540
  582
  626
  672
  721
  773
  828
  886
  947
  1,012
  1,081
  1,153
  1,229
  1,310
  1,395
  1,485
  1,580
  1,681
  1,786
  1,898
Maintenance CAPEX, $m
  0
  -9
  -9
  -9
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -29
  -30
  -31
  -33
  -35
  -36
New CAPEX, $m
  -18
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
Cash from investing activities, $m
  -49
  -14
  -14
  -14
  -15
  -16
  -17
  -18
  -18
  -20
  -21
  -21
  -23
  -24
  -25
  -26
  -27
  -29
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -43
  -45
  -47
  -49
  -52
  -54
Free cash flow, $m
  367
  213
  246
  270
  296
  323
  352
  382
  415
  449
  485
  519
  559
  602
  647
  695
  746
  799
  856
  916
  979
  1,046
  1,116
  1,191
  1,269
  1,353
  1,440
  1,533
  1,631
  1,734
  1,844
Issuance/(repayment) of debt, $m
  32
  -133
  52
  54
  57
  60
  63
  66
  69
  72
  75
  79
  83
  87
  91
  96
  100
  105
  110
  116
  122
  128
  134
  141
  148
  155
  163
  171
  179
  188
  197
Issuance/(repurchase) of shares, $m
  -174
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -180
  -133
  52
  54
  57
  60
  63
  66
  69
  72
  75
  79
  83
  87
  91
  96
  100
  105
  110
  116
  122
  128
  134
  141
  148
  155
  163
  171
  179
  188
  197
Total cash flow (excl. dividends), $m
  162
  81
  298
  324
  353
  383
  414
  448
  483
  521
  560
  598
  642
  689
  738
  791
  846
  905
  966
  1,032
  1,100
  1,173
  1,250
  1,331
  1,417
  1,508
  1,603
  1,704
  1,810
  1,922
  2,041
Retained Cash Flow (-), $m
  -22
  -188
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
Prev. year cash balance distribution, $m
 
  607
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  500
  292
  318
  346
  376
  407
  441
  476
  513
  552
  589
  633
  679
  728
  780
  835
  893
  954
  1,019
  1,087
  1,159
  1,235
  1,316
  1,401
  1,490
  1,585
  1,685
  1,790
  1,902
  2,019
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  479
  267
  277
  285
  291
  296
  298
  297
  295
  289
  280
  270
  258
  245
  229
  212
  194
  176
  157
  138
  120
  102
  86
  71
  58
  46
  36
  28
  21
  15
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Evercore Inc., formerly Evercore Partners Inc., is a global independent investment banking advisory company. The Company advises a diverse set of investment banking clients on a wide range of transactions and issues and provides institutional investors with high quality equity research, sales and trading execution that is free of the conflicts created by proprietary activities. The Firm also offers investment management services to high net worth and institutional investors. The Company has 28 offices and affiliate offices in North America, Europe, South America and Asia and has the scale and strength to serve clients globally through a focused and tailored approach designed to meet their unique needs.

FINANCIAL RATIOS  of  Evercore Cl A (EVR)

Valuation Ratios
P/E Ratio 35.1
Price to Sales 2.6
Price to Book 7.2
Price to Tangible Book
Price to Cash Flow 9.1
Price to Free Cash Flow 9.5
Growth Rates
Sales Growth Rate 17.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 12.5%
Cap. Spend. - 3 Yr. Gr. Rate 35.1%
Financial Strength
Quick Ratio 21
Current Ratio 0.1
LT Debt to Equity 35.1%
Total Debt to Equity 41%
Interest Coverage 20
Management Effectiveness
Return On Assets 7.4%
Ret/ On Assets - 3 Yr. Avg. 6%
Return On Total Capital 15.1%
Ret/ On T. Cap. - 3 Yr. Avg. 10.9%
Return On Equity 20.9%
Return On Equity - 3 Yr. Avg. 15.2%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 98.8%
Gross Margin - 3 Yr. Avg. 98.6%
EBITDA Margin 21.1%
EBITDA Margin - 3 Yr. Avg. 19.4%
Operating Margin 17.9%
Oper. Margin - 3 Yr. Avg. 15.5%
Pre-Tax Margin 18.4%
Pre-Tax Margin - 3 Yr. Avg. 16.1%
Net Profit Margin 7.4%
Net Profit Margin - 3 Yr. Avg. 6.7%
Effective Tax Rate 44.4%
Eff/ Tax Rate - 3 Yr. Avg. 46.9%
Payout Ratio 48.1%

EVR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EVR stock intrinsic value calculation we used $1457 million for the last fiscal year's total revenue generated by Evercore Cl A. The default revenue input number comes from 2016 income statement of Evercore Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EVR stock valuation model: a) initial revenue growth rate of 5.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for EVR is calculated based on our internal credit rating of Evercore Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Evercore Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EVR stock the variable cost ratio is equal to 38.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $648 million in the base year in the intrinsic value calculation for EVR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7% for Evercore Cl A.

Corporate tax rate of 27% is the nominal tax rate for Evercore Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EVR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EVR are equal to 5.8%.

Life of production assets of 9.9 years is the average useful life of capital assets used in Evercore Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EVR is equal to -9.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $527 million for Evercore Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 43.222 million for Evercore Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Evercore Cl A at the current share price and the inputted number of shares is $4.2 billion.

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HLI Houlihan Lokey 46.16 252.36  str.buy
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MS Morgan Stanley 55.14 133.55  str.buy
GS Goldman Sachs 267.62 601.17  str.buy

COMPANY NEWS

▶ Pace of Market Returns to Slow, Evercore's Debusschere Says   [Feb-12-18 01:10PM  Bloomberg Video]
▶ Trump to Bridge Gap on Dreamers, Border Wall, Says Haines   [Jan-30-18 07:25AM  Bloomberg Video]
▶ Straszheim Says China Credit Rise Not Worrisome   [Jan-18-18 08:57AM  Bloomberg Video]
▶ Evercore ISI's Hyman Says Markets Are Climbing a Wall of Worry   [Jan-11-18 05:48PM  Bloomberg Video]
▶ GOP Has 5-7 Day Tax Plan Window, Says Terry Haines   [Dec-15-17 08:52AM  Bloomberg Video]
▶ Is Evercore Inc (NYSE:EVR) A Sell At Its Current PE Ratio?   [Dec-12-17 08:34AM  Simply Wall St.]
▶ Evercore Partners Earns Composite Rating Upgrade   [03:00AM  Investor's Business Daily]
▶ Haines Sees 75% Chance of Tax Reform Becoming Law   [Nov-27-17 09:02AM  Bloomberg Video]
▶ ETFs with exposure to Evercore, Inc. : November 20, 2017   [Nov-20-17 12:23PM  Capital Cube]
▶ Best NYSE Stocks For Your Portfolio   [Nov-16-17 06:02AM  Simply Wall St.]
▶ Evercore's Altman on Trump's Asia Trip, China, Tax Reform   [Nov-13-17 10:32PM  Bloomberg Video]
▶ Stocks Close Slightly Higher; What's Eating Weight Watchers?   [04:18PM  Investor's Business Daily]
▶ M&A fee battle pits David v Goliath   [02:11PM  Reuters]
▶ ETFs with exposure to Evercore, Inc. : November 10, 2017   [Nov-10-17 12:21PM  Capital Cube]
▶ Evercore CEO Says Powell Was a 'Presidential Choice'   [Nov-02-17 07:04PM  Bloomberg Video]
▶ BG Staffing And Other Great Cheap Stocks   [Nov-01-17 09:02AM  Simply Wall St.]
▶ What Is Evercore Incs (EVR) Share Price Doing?   [Oct-26-17 07:10PM  Simply Wall St.]
▶ Evercore Partners posts 3Q profit   [06:35AM  Associated Press]
▶ Anthony DiClemente Joins Evercore ISI Research Team   [Oct-23-17 04:15PM  PR Newswire]
▶ MOVES- Evercore, Visa, JPMorgan, Lazard, Citigroup   [Sep-07-17 05:08PM  Reuters]
▶ Evercore CEO on North Korea, Harvey and M&A   [Sep-06-17 05:14PM  Bloomberg Video]
▶ Evercore Partners Schlosstein Says Be Like Buffett   [Aug-29-17 10:06AM  Bloomberg Video]
▶ Evercore Vice Chair Sees Open Field for Next Fed Chair   [Aug-25-17 04:29PM  Bloomberg Video]
▶ 6 Undervalued Stocks Based on the Peter Lynch Value   [Aug-03-17 06:26PM  GuruFocus.com]
▶ Evercore Partners posts 2Q profit   [01:39AM  Associated Press]
▶ Josh Schimmer Joins Evercore ISI Research Team   [Jul-25-17 08:00AM  PR Newswire]
▶ Evercore's Haines Says GOP Making Progress on Health Bill   [Jul-14-17 02:02PM  Bloomberg Video]
▶ [$$] EvercoreHiresDeutscheBank's PaulStefanick   [10:06AM  The Wall Street Journal]
▶ [$$] Overflowing Evercore Takes New Space in London's Mayfair Neighborhood   [Jun-27-17 11:16AM  The Wall Street Journal]
▶ Evercores Hyman Sees 3.5% U.S. Jobless Rate   [Jun-23-17 07:39AM  Bloomberg Video]
▶ Wilkinson: Why Republicans Will Pass Trumpcare   [07:07AM  Bloomberg Video]
Financial statements of EVR
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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