EVR (Evercore) Beneish M-Score: -3.21 (As of Jun. 25, 2026)


EVR Evercore Inc EVR
84 GF Score
Price $353.19
GF Value $368.74
Valuation Fairly Valued
! 4 Warning Signs
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What is Evercore Beneish M-Score?

Evercore EVR -3.67% 84 Beneish M-Score is -3.21 as of Jun. 25, 2026. GuruFocus rates EVR with a GF Score™ of 84/100 and a GF Value™ of $368.74 (Fairly Valued). The stock has 4 warning signs investors should review. Among 702 Capital Markets companies, Evercore ranks better than 86.32% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -3.21 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Evercore's Beneish M-Score or its related term are showing as below:

EVR' s Beneish M-Score Range Over the Past 10 Years
Min: -6.74   Med: -3.15   Max: -1.22
Current: -3.21

During the past 13 years, the highest Beneish M-Score of Evercore was -1.22. The lowest was -6.74. And the median was -3.15.

EVR
84GF Score
Evercore Inc EVR
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Evercore Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Evercore for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.8326+0.528 * 1+0.404 * 1.0467+0.892 * 1.4716+0.115 * 0.0133
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9781+4.679 * -0.193145-0.327 * 0.997
=-3.21

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $621 Mil.
Revenue was 1391.578 + 1288.277 + 1038.884 + 833.83 = $4,553 Mil.
Gross Profit was 1391.578 + 1288.277 + 1038.884 + 833.83 = $4,553 Mil.
Total Current Assets was $0 Mil.
Total Assets was $4,314 Mil.
Property, Plant and Equipment(Net PPE) was $636 Mil.
Depreciation, Depletion and Amortization(DDA) was $22 Mil.
Selling, General, & Admin. Expense(SGA) was $2,945 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $1,037 Mil.
Net Income was 301.235 + 203.954 + 144.583 + 97.201 = $747 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was -225.863 + 807.467 + 560.913 + 437.737 = $1,580 Mil.
 Total Receivables was $507 Mil.
Revenue was 694.829 + 975.332 + 734.222 + 689.224 = $3,094 Mil.
Gross Profit was 694.829 + 975.332 + 734.222 + 689.224 = $3,094 Mil.
Total Current Assets was $0 Mil.
Total Assets was $3,271 Mil.
Property, Plant and Equipment(Net PPE) was $607 Mil.
Depreciation, Depletion and Amortization(DDA) was $0 Mil.
Selling, General, & Admin. Expense(SGA) was $2,046 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $789 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(621.229 / 4552.569) / (507.003 / 3093.607)
=0.136457 / 0.163887
=0.8326

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(3093.607 / 3093.607) / (4552.569 / 4552.569)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 636.048) / 4314.273) / (1 - (0 + 606.81) / 3271.115)
=0.852571 / 0.814494
=1.0467

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=4552.569 / 3093.607
=1.4716

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(0.267 / (0.267 + 606.81)) / (21.678 / (21.678 + 636.048))
=0.00044 / 0.032959
=0.0133

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(2945.079 / 4552.569) / (2046.156 / 3093.607)
=0.646905 / 0.661414
=0.9781

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((1037.183 + 0) / 4314.273) / ((788.752 + 0) / 3271.115)
=0.240407 / 0.241126
=0.997

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(746.973 - 0 - 1580.254) / 4314.273
=-0.193145

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Evercore has a M-score of -3.21 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -3.21 mean?
Evercore (EVR) has a Beneish M-Score of -3.21 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Evercore and its competitors. According to the industry distribution chart, Evercore ranks #96 out of 702 companies in the Capital Markets industry, placing it in the top 13.7%.
Is Evercore's Beneish M-Score too high?
Evercore's current Beneish M-Score is -3.21. Based on the distribution chart, Evercore ranks #96 out of 702 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Evercore has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Evercore's Beneish M-Score compare to WULF and HUT?
According to the Capital Markets industry distribution chart, Evercore ranks #96 out of 702 companies for Beneish M-Score. This places Evercore in the top 14% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Capital Markets company?
A good Beneish M-Score depends on the Capital Markets industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Evercore and its competitors. Evercore's current Beneish M-Score is -3.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Evercore stock overvalued right now?
Based on GuruFocus' analysis, Evercore (EVR) is currently considered Fairly Valued. The stock's GF Value™ is $368.74, compared to a current price of $353.19 — trading 4.2% below its estimated fair value. The current Beneish M-Score is -3.21. Evercore's overall GF Score™ is 84/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Evercore (EVR), the current Beneish M-Score is -3.21 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Evercore (EVR) Overvalued in 2026?

Based on GuruFocus' analysis, Evercore stock appears to be undervalued. The current stock price of $353.19 is trading 4.2% below its estimated GF Value™ of $368.74. GuruFocus considers Evercore to be Fairly Valued.

Key valuation signals for EVR:

  • Beneish M-Score: -3.21
  • GF Value™: $368.74 vs. price of $353.19 (4.2% below fair value)
  • GF Score™: 84/100 with 4 warning signs

No single metric tells the full story. See the EVR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Evercore Business Description

Other Exchanges EVR:MexicoQGJ:Germany
Address 55 East 52nd Street, New York, NY, USA, 10055
Evercore is a leading independent investment banking advisory firm that generates most of its revenue through merger and acquisition and restructuring advisory services, with much smaller capital raising, equities trading, and investment management businesses. Founded in 1995, it has built a reputation for advising on some of the world's largest and most complex transactions. Evercore operates globally, with a strong presence in the US and Europe, serving corporations, financial sponsors, and government clients. Its business model emphasizes high-touch, conflict-free advice rather than balance sheet lending, allowing it to compete with larger bulge-bracket banks.
84GF Score

Get the complete analysis for EVR

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$353.19
Price
$368.74
GF Value