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Evercore Investment Banking Interview Questions

Practice three certified Evercore valuation answers, then use the 30-minute spoken drill for first-round and Superday preparation.

Three answers, open

Evercore valuation questions, worked step by step

Commit to each bridge before checking the math. Round and topic labels come from the certified workbook.

01
First RoundEV & Equity Value

Enterprise value to share price

7x EV/EBITDA, $100M EBITDA, $100M cash, $300M debt and 100M shares outstanding. What is the share price?

Enterprise value7.0x × $100M$700M
Equity value$700M - $300M + $100M$500M
Share price$500M / 100M shares$5.00

Interview check: move from EV to equity value by subtracting debt and adding cash.

02
First RoundEV & Equity Value

Build enterprise value from P/E

EPS is $2, there are 100 shares, P/E is 4x, debt is $200, NCI is $75, cash is $50 and inventory is $100. What is EV?

Equity value

Share price = 4x × $2 = $8. Equity value = $8 × 100 = $800.

EV bridge

$800 + $200 debt + $75 NCI - $50 cash = $1,025.

Inventory

Inventory is an operating working-capital asset, so it is not adjusted in the EV bridge.

Answer: enterprise value is $1,025.

03
First RoundEV & Equity Value

Sum-of-the-parts implied multiple

Coffee Co has $100M EBITDA. Donut Co has $200M EBITDA and trades at 5x. Parent equity value is $1,000M, debt plus NCI is $500M, and cash is $200M. What is Coffee Co's implied multiple?

Parent EV

$1,000M + $500M - $200M = $1,300M.

Donut Co EV

5.0x × $200M EBITDA = $1,000M.

Coffee Co

$1,300M - $1,000M = $300M EV. $300M / $100M EBITDA = 3.0x.

Why 3x versus 5x? Lower growth or margins, more capital intensity or risk, less liquidity and transparency, or a holding-company discount.

The drill

  1. 5 minutes - accounting. Explain one three-statement change and finish with the cash impact.
  2. 7 minutes - valuation. Choose a company and explain which valuation methods fit, what drives the range, and one limitation.
  3. 6 minutes - transaction reasoning. Summarize one recent firm-relevant transaction, its strategic logic, and one risk.
  4. 6 minutes - technical depth. Take one answer a level deeper: identify the assumption that matters most and how you would test it.
  5. 6 minutes - repeat. Mark every answer that wandered. Repeat it in 60-90 seconds with a clear opening and conclusion.

Need more firm-specific reps?

Practice in an editable Excel workbook organized for repeated out-loud drills.

Get the free sampler: 15 questions, all workedGet the full Evercore workbook

What to prepare outside the workbook

This is independent interview practice. It is not official firm material and is not affiliated with or endorsed by the named firm.