GOLDMAN SACHS GROUP INC (GS) Fundamental Analysis & Valuation

NYSE:GS • US38141G1040

Current stock price

867.005 USD
+3.97 (+0.46%)
Last:

This GS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

3

1. GS Profitability Analysis

1.1 Basic Checks

  • GS had positive earnings in the past year.
  • In the past year GS has reported a negative cash flow from operations.
  • In the past 5 years GS has always been profitable.
  • In multiple years GS reported negative operating cash flow during the last 5 years.
GS Yearly Net Income VS EBIT VS OCF VS FCFGS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B -40B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 0.90%, GS is doing worse than 63.18% of the companies in the same industry.
  • The Return On Equity of GS (13.04%) is better than 69.87% of its industry peers.
  • GS's Return On Invested Capital of 1.13% is on the low side compared to the rest of the industry. GS is outperformed by 66.11% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for GS is significantly below the industry average of 7.24%.
  • The last Return On Invested Capital (1.13%) for GS is above the 3 year average (0.96%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.9%
ROE 13.04%
ROIC 1.13%
ROA(3y)0.73%
ROA(5y)0.88%
ROE(3y)10.3%
ROE(5y)11.86%
ROIC(3y)0.96%
ROIC(5y)1.13%
GS Yearly ROA, ROE, ROICGS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • The Profit Margin of GS (13.03%) is comparable to the rest of the industry.
  • GS's Profit Margin has declined in the last couple of years.
  • With a Operating Margin value of 17.47%, GS is not doing good in the industry: 60.67% of the companies in the same industry are doing better.
  • In the last couple of years the Operating Margin of GS has declined.
  • GS's Gross Margin of 40.20% is in line compared to the rest of the industry. GS outperforms 41.84% of its industry peers.
  • In the last couple of years the Gross Margin of GS has declined.
Industry RankSector Rank
OM 17.47%
PM (TTM) 13.03%
GM 40.2%
OM growth 3Y-3.81%
OM growth 5Y-8.77%
PM growth 3Y-5.96%
PM growth 5Y-3.81%
GM growth 3Y-13.08%
GM growth 5Y-12.14%
GS Yearly Profit, Operating, Gross MarginsGS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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1

2. GS Health Analysis

2.1 Basic Checks

  • The number of shares outstanding for GS has been reduced compared to 1 year ago.
  • GS has less shares outstanding than it did 5 years ago.
  • The debt/assets ratio for GS has been reduced compared to a year ago.
GS Yearly Shares OutstandingGS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M
GS Yearly Total Debt VS Total AssetsGS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500B 1T 1.5T

2.2 Solvency

  • A Debt/Equity ratio of 8.74 is on the high side and indicates that GS has dependencies on debt financing.
  • GS's Debt to Equity ratio of 8.74 is on the low side compared to the rest of the industry. GS is outperformed by 89.12% of its industry peers.
Industry RankSector Rank
Debt/Equity 8.74
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACCN/A
GS Yearly LT Debt VS Equity VS FCFGS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100B 200B

2.3 Liquidity

  • GS has a Current Ratio of 0.32. This is a bad value and indicates that GS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • GS's Current ratio of 0.32 is on the low side compared to the rest of the industry. GS is outperformed by 82.43% of its industry peers.
  • GS has a Quick Ratio of 0.32. This is a bad value and indicates that GS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • GS's Quick ratio of 0.32 is on the low side compared to the rest of the industry. GS is outperformed by 82.01% of its industry peers.
Industry RankSector Rank
Current Ratio 0.32
Quick Ratio 0.32
GS Yearly Current Assets VS Current LiabilitesGS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200B 400B 600B 800B 1T

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. GS Growth Analysis

3.1 Past

  • GS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 26.49%, which is quite impressive.
  • Measured over the past years, GS shows a quite strong growth in Earnings Per Share. The EPS has been growing by 10.50% on average per year.
  • GS shows a decrease in Revenue. In the last year, the revenue decreased by -1.38%.
  • GS shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 17.29% yearly.
EPS 1Y (TTM)26.49%
EPS 3Y19.49%
EPS 5Y10.5%
EPS Q2Q%17.24%
Revenue 1Y (TTM)-1.38%
Revenue growth 3Y22.11%
Revenue growth 5Y17.29%
Sales Q2Q%-2.99%

3.2 Future

  • Based on estimates for the next years, GS will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.49% on average per year.
  • Based on estimates for the next years, GS will show a small growth in Revenue. The Revenue will grow by 3.66% on average per year.
EPS Next Y16.82%
EPS Next 2Y14.13%
EPS Next 3Y12.43%
EPS Next 5Y10.49%
Revenue Next Year8.92%
Revenue Next 2Y6.9%
Revenue Next 3Y5.12%
Revenue Next 5Y3.66%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
GS Yearly Revenue VS EstimatesGS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 20B 40B 60B 80B 100B
GS Yearly EPS VS EstimatesGS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 20 40 60 80 100

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4

4. GS Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 16.90, GS is valued correctly.
  • The rest of the industry has a similar Price/Earnings ratio as GS.
  • When comparing the Price/Earnings ratio of GS to the average of the S&P500 Index (26.17), we can say GS is valued slightly cheaper.
  • With a Price/Forward Earnings ratio of 14.47, GS is valued correctly.
  • GS's Price/Forward Earnings ratio is in line with the industry average.
  • GS's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.05.
Industry RankSector Rank
PE 16.9
Fwd PE 14.47
GS Price Earnings VS Forward Price EarningsGS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • GS's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. GS is cheaper than 72.80% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 18.64
GS Per share dataGS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 100 -100 200 300 400

4.3 Compensation for Growth

  • GS's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • A more expensive valuation may be justified as GS's earnings are expected to grow with 12.43% in the coming years.
PEG (NY)1
PEG (5Y)1.61
EPS Next 2Y14.13%
EPS Next 3Y12.43%

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6

5. GS Dividend Analysis

5.1 Amount

  • GS has a Yearly Dividend Yield of 2.24%. Purely for dividend investing, there may be better candidates out there.
  • GS's Dividend Yield is comparable with the industry average which is at 6.90.
  • GS's Dividend Yield is comparable with the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 2.24%

5.2 History

  • The dividend of GS is nicely growing with an annual growth rate of 20.67%!
  • GS has been paying a dividend for at least 10 years, so it has a reliable track record.
  • GS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)20.67%
Div Incr Years14
Div Non Decr Years15
GS Yearly Dividends per shareGS Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6 8 10

5.3 Sustainability

  • 32.37% of the earnings are spent on dividend by GS. This is a low number and sustainable payout ratio.
  • GS's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP32.37%
EPS Next 2Y14.13%
EPS Next 3Y12.43%
GS Yearly Income VS Free CF VS DividendGS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B -40B
GS Dividend Payout.GS Dividend Payout, showing the Payout Ratio.GS Dividend Payout.PayoutRetained Earnings

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GS Fundamentals: All Metrics, Ratios and Statistics

GOLDMAN SACHS GROUP INC

NYSE:GS (4/6/2026, 12:06:02 PM)

867.005

+3.97 (+0.46%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-19
Earnings (Next)04-13
Inst Owners75.45%
Inst Owner Change0%
Ins Owners0.5%
Ins Owner Change-0.96%
Market Cap257.28B
Revenue(TTM)125.10B
Net Income(TTM)16.30B
Analysts72.5
Price Target981.52 (13.21%)
Short Float %2.09%
Short Ratio2.48
Dividend
Industry RankSector Rank
Dividend Yield 2.24%
Yearly Dividend17.29
Dividend Growth(5Y)20.67%
DP32.37%
Div Incr Years14
Div Non Decr Years15
Ex-Date03-02
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.34%
Min EPS beat(2)8.14%
Max EPS beat(2)16.53%
EPS beat(4)4
Avg EPS beat(4)11.71%
Min EPS beat(4)8.14%
Max EPS beat(4)16.53%
EPS beat(8)8
Avg EPS beat(8)17.25%
EPS beat(12)10
Avg EPS beat(12)16.82%
EPS beat(16)13
Avg EPS beat(16)12.28%
Revenue beat(2)1
Avg Revenue beat(2)-0.35%
Min Revenue beat(2)-5.29%
Max Revenue beat(2)4.58%
Revenue beat(4)2
Avg Revenue beat(4)0.8%
Min Revenue beat(4)-5.29%
Max Revenue beat(4)5.15%
Revenue beat(8)5
Avg Revenue beat(8)2.8%
Revenue beat(12)8
Avg Revenue beat(12)9.75%
Revenue beat(16)12
Avg Revenue beat(16)19.58%
PT rev (1m)0%
PT rev (3m)18.89%
EPS NQ rev (1m)2.63%
EPS NQ rev (3m)8.81%
EPS NY rev (1m)-0.16%
EPS NY rev (3m)5.36%
Revenue NQ rev (1m)0.89%
Revenue NQ rev (3m)2.76%
Revenue NY rev (1m)-0.32%
Revenue NY rev (3m)2.45%
Valuation
Industry RankSector Rank
PE 16.9
Fwd PE 14.47
P/S 2.06
P/FCF N/A
P/OCF N/A
P/B 2.06
P/tB 2.06
EV/EBITDA 18.64
EPS(TTM)51.29
EY5.92%
EPS(NY)59.92
Fwd EY6.91%
FCF(TTM)-159.12
FCFYN/A
OCF(TTM)-152.16
OCFYN/A
SpS421.56
BVpS421.23
TBVpS421.23
PEG (NY)1
PEG (5Y)1.61
Graham Number697.22
Profitability
Industry RankSector Rank
ROA 0.9%
ROE 13.04%
ROCE 3.11%
ROIC 1.13%
ROICexc 1.27%
ROICexgc 1.3%
OM 17.47%
PM (TTM) 13.03%
GM 40.2%
FCFM N/A
ROA(3y)0.73%
ROA(5y)0.88%
ROE(3y)10.3%
ROE(5y)11.86%
ROIC(3y)0.96%
ROIC(5y)1.13%
ROICexc(3y)1.11%
ROICexc(5y)1.39%
ROICexgc(3y)1.13%
ROICexgc(5y)1.4%
ROCE(3y)2.76%
ROCE(5y)3.09%
ROICexgc growth 3Y1.88%
ROICexgc growth 5Y-4.51%
ROICexc growth 3Y1.29%
ROICexc growth 5Y-4.9%
OM growth 3Y-3.81%
OM growth 5Y-8.77%
PM growth 3Y-5.96%
PM growth 5Y-3.81%
GM growth 3Y-13.08%
GM growth 5Y-12.14%
F-Score5
Asset Turnover0.07
Health
Industry RankSector Rank
Debt/Equity 8.74
Debt/FCF N/A
Debt/EBITDA 45.44
Cap/Depr 94.59%
Cap/Sales 1.65%
Interest Coverage 0.33
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.32
Quick Ratio 0.32
Altman-Z N/A
F-Score5
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)76.57%
Cap/Depr(5y)122.8%
Cap/Sales(3y)1.81%
Cap/Sales(5y)3.61%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)26.49%
EPS 3Y19.49%
EPS 5Y10.5%
EPS Q2Q%17.24%
EPS Next Y16.82%
EPS Next 2Y14.13%
EPS Next 3Y12.43%
EPS Next 5Y10.49%
Revenue 1Y (TTM)-1.38%
Revenue growth 3Y22.11%
Revenue growth 5Y17.29%
Sales Q2Q%-2.99%
Revenue Next Year8.92%
Revenue Next 2Y6.9%
Revenue Next 3Y5.12%
Revenue Next 5Y3.66%
EBIT growth 1Y18.32%
EBIT growth 3Y17.45%
EBIT growth 5Y7%
EBIT Next Year-8.23%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-208.55%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-241.76%
OCF growth 3YN/A
OCF growth 5YN/A

GOLDMAN SACHS GROUP INC / GS Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for GOLDMAN SACHS GROUP INC?

ChartMill assigns a fundamental rating of 3 / 10 to GS.


Can you provide the valuation status for GOLDMAN SACHS GROUP INC?

ChartMill assigns a valuation rating of 4 / 10 to GOLDMAN SACHS GROUP INC (GS). This can be considered as Fairly Valued.


Can you provide the profitability details for GOLDMAN SACHS GROUP INC?

GOLDMAN SACHS GROUP INC (GS) has a profitability rating of 3 / 10.


Can you provide the financial health for GS stock?

The financial health rating of GOLDMAN SACHS GROUP INC (GS) is 1 / 10.


Is the dividend of GOLDMAN SACHS GROUP INC sustainable?

The dividend rating of GOLDMAN SACHS GROUP INC (GS) is 6 / 10 and the dividend payout ratio is 32.37%.