Evercore Financial Performance and Governance
Global Announced M&A as a Percent of Global Market Capitalization Is At An All-
Time Low, Presenting Opportunity for Evercore
($ in trillions)
The below chart displays total global market cap as of 12/31/2023. M&A activity as a percentage of total global market cap
is at the lowest levels in the past 20 years
$90
$80
$70
$60
Announced M&A Relative to Market Cap
2013-2023
Average
2003 - 2023
Average
14.0%
12.2%
Global M&A as a % of Total
5.9%
6.7%
Global M&A (Sub $10Bn) as a % of Total
4.3%
5.0%
12.0%
9.8%
9.2%
8.1%
8.2%
7.5%
9.0%
$50
7.2%
7.3%
7.0%
6.7%
6.3%
6.3%
6.5%
5.1%
$40
5.4%
5.4%
6.3%
6.3%
5.5%
4.8%
6.0%
$30
5.0%
5.2% 5.5%
5.5%
5.1%
4.6%
4.5%
4.3%
4.3%
4.0%
$20
$10
$22 $26 $30 $35 $38
$21
$
2003 2004 2005 2006 2007
2008
$29 $34 $31 $35 $43 $44 $43 $45
2009 2010 2011 2012 2013 2014 2015 2016
2017
Total Global Market Cap¹
Source: Refinitiv and FactSet, data as of 12/31/2023
1.
Global Market Cap as of 12/31/2023
EVERCORE
Global Announced M&A (Sub $10b) / Global Market Cap
9
5.7%
4.4%
3.8%
3.3%
6.3%
10.0%
8.0%
6.0%
4.7%
3.3%
4.0%
4.9%
3.6%
2.5% 2.0%
$55 $48 $60 $70 $83 $66 $78
2018 2019 2020 2021 2022 2023
Global Announced M&A / Global Market Cap
0.0%View entire presentation