More or less, though it's such an umbrella term at this point that a self-described "evangelical" may disclaim Protestant identity, not having an awareness of the historical link and intending to convey that they don't feel aligned with a Protestant denomination such as Presbyterian, Methodist, Baptist, etc. I've met many Evangelicals who said something along those lines when the subject came up in conversation.

https://en.wikipedia.org/wiki/Evangelicalism