estimate vs evaluate

estimate is a noun but evaluate is not a noun.

Word	Noun	Adjective	Verb	Adverb
estimate	Yes	No	Yes	No
evaluate	No	No	Yes	No

As verbs, evaluate is a hypernym of estimate; that is, evaluate is a word with a broader meaning than estimate:

Other hypernyms of estimate include judge, pass judgment.

estimate (noun)	evaluate (noun)
a judgment of the qualities of something or somebody
an approximate calculation of quantity or degree or worth
the respect with which a person is held
a document appraising the value of something (as for insurance or taxation)
a statement indicating the likely cost of some job

estimate (verb)	evaluate (verb)
judge tentatively or form an estimate of (quantities or time)	evaluate or estimate the nature, quality, ability, extent, or significance of
judge to be probable	form a critical opinion of