Evercore’s Riyadh Expansion Tests How Far Its Middle East Ambitions Can Go (EVR)

• In December 2025, Evercore Inc. received an Arranging License from Saudi Arabia’s Capital Markets Authority and opened a Riyadh office led by Mohammed Aldekmary, extending its independent advisory coverage in the Kingdom and building on its existing Middle East presence established with its Dubai office in 2017.
• This move materially deepens Evercore’s access to Saudi Arabia’s evolving capital markets, potentially strengthening its cross-border advisory capabilities across the wider Middle East region.
• We’ll now examine how establishing a Riyadh office under a new local CEO could reshape Evercore’s international growth-focused investment narrative.

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Evercore Investment Narrative Recap

To own Evercore, you need to believe the firm can keep turning its advisory franchise and high return on equity into steady earnings growth, despite its reliance on cyclical M&A and elevated compensation costs. The Riyadh license and new office expand its reach in Saudi Arabia, but this move is unlikely to alter the most important near term driver, which remains overall deal activity levels, or the key risk of margins coming under pressure if revenues soften against a higher fixed cost base.

The new Saudi presence sits alongside Evercore’s ongoing capital return program, including its US$1.6 billion buyback authorization in April 2025. For shareholders, this pairing of international expansion with active repurchases can matter when thinking about how future earnings per share might evolve and how resilient the current growth-focused narrative could be if M&A markets slow or competitive fee pressure increases.

Yet beneath this expansion story, investors should also be aware that rising fixed costs could become a problem if...

Read the full narrative on Evercore (it's free!)

Evercore's narrative projects $5.4 billion revenue and $953.1 million earnings by 2028. This requires 18.7% yearly revenue growth and roughly a $491 million earnings increase from $462.2 million today.

Uncover how Evercore's forecasts yield a $353.56 fair value, a 3% upside to its current price.

Exploring Other Perspectives

Three fair value estimates from the Simply Wall St Community cluster in a tight US$353.56 to US$365.40 range, underlining how differently individual investors can view the same company. You should weigh those opinions against the risk that Evercore’s growing global footprint, including Riyadh, adds to fixed costs that may pressure margins if M&A activity cools, and consider several alternative viewpoints before forming your own view.

Explore 3 other fair value estimates on Evercore - why the stock might be worth as much as 7% more than the current price!

Build Your Own Evercore Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Evercore research is our analysis highlighting 3 key rewards that could impact your investment decision.
• Our free Evercore research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Evercore's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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