GOLDMAN SACHS GROUP INC (GS) Fundamental Analysis & Valuation

NYSE:GS • US38141G1040

Current stock price

931.3 USD
-3.54 (-0.38%)
At close:
932 USD
+0.7 (+0.08%)
After Hours:

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

  • The Return On Assets of GS (0.90%) is worse than 63.33% of its industry peers.
  • Looking at the Return On Equity, with a value of 13.04%, GS is in the better half of the industry, outperforming 69.58% of the companies in the same industry.
  • GS has a Return On Invested Capital of 1.12%. This is in the lower half of the industry: GS underperforms 66.67% of its industry peers.
  • GS had an Average Return On Invested Capital over the past 3 years of 0.95%. This is significantly below the industry average of 7.28%.
  • The 3 year average ROIC (0.95%) for GS is below the current ROIC(1.12%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.9%
ROE 13.04%
ROIC 1.12%
ROA(3y)0.73%
ROA(5y)0.88%
ROE(3y)10.3%
ROE(5y)11.86%
ROIC(3y)0.95%
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

  • GS has a Profit Margin (13.03%) which is in line with its industry peers.
  • In the last couple of years the Profit Margin of GS has declined.
  • With a Operating Margin value of 17.53%, GS is not doing good in the industry: 61.25% of the companies in the same industry are doing better.
  • GS's Operating Margin has declined in the last couple of years.
  • GS has a Gross Margin of 40.20%. This is comparable to the rest of the industry: GS outperforms 41.67% of its industry peers.
  • GS's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 17.53%
PM (TTM) 13.03%
GM 40.2%
OM growth 3Y-3.7%
OM growth 5Y-8.71%
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

  • GS has less shares outstanding than it did 1 year ago.
  • GS has less shares outstanding than it did 5 years ago.
  • GS has a better debt/assets ratio than last year.
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

  • Based on the Altman-Z score of -0.18, we must say that GS is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of -0.18, GS is not doing good in the industry: 80.00% of the companies in the same industry are doing better.
  • GS has a Debt/Equity ratio of 9.16. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of GS (9.16) is worse than 88.75% of its industry peers.
Industry RankSector Rank
Debt/Equity 9.16
Debt/FCF N/A
Altman-Z -0.18
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.
  • With a Current ratio value of 0.32, GS is not doing good in the industry: 82.50% of the companies in the same industry are doing better.
  • A Quick Ratio of 0.32 indicates that GS may have some problems paying its short term obligations.
  • The Quick ratio of GS (0.32) is worse than 82.08% 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 26.99%, 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.
  • Looking at the last year, GS shows a small growth in Revenue. The Revenue has grown by 1.28% in the last year.
  • 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)26.99%
EPS 3Y19.49%
EPS 5Y10.5%
EPS Q2Q%24.29%
Revenue 1Y (TTM)1.28%
Revenue growth 3Y22.11%
Revenue growth 5Y17.29%
Sales Q2Q%14.37%

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.
  • GS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.66% yearly.
EPS Next Y16.91%
EPS Next 2Y14.2%
EPS Next 3Y12.39%
EPS Next 5Y10.49%
Revenue Next Year8.97%
Revenue Next 2Y6.88%
Revenue Next 3Y5.11%
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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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3

4. GS Valuation Analysis

4.1 Price/Earnings Ratio

  • GS is valuated rather expensively with a Price/Earnings ratio of 17.02.
  • Compared to the rest of the industry, the Price/Earnings ratio of GS is on the same level as its industry peers.
  • GS is valuated rather cheaply when we compare the Price/Earnings ratio to 27.47, which is the current average of the S&P500 Index.
  • GS is valuated correctly with a Price/Forward Earnings ratio of 13.92.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of GS is on the same level as its industry peers.
  • GS's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.62.
Industry RankSector Rank
PE 17.02
Fwd PE 13.92
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GS indicates a somewhat cheap valuation: GS is cheaper than 74.17% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.63
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

  • The 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 12.39% in the coming years.
PEG (NY)1.01
PEG (5Y)1.62
EPS Next 2Y14.2%
EPS Next 3Y12.39%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. GS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.94%, GS has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 6.46, GS has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.81, GS has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.94%

5.2 History

  • On average, the dividend of GS grows each year by 20.80%, which is quite nice.
  • GS has paid a dividend for at least 10 years, which is a reliable track record.
  • GS has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)20.8%
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

  • GS pays out 32.37% of its income as dividend. This is a sustainable payout ratio.
  • GS's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP32.37%
EPS Next 2Y14.2%
EPS Next 3Y12.39%
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 (4/23/2026, 8:15:04 PM)

After market: 932 +0.7 (+0.08%)

931.3

-3.54 (-0.38%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)04-13
Earnings (Next)07-14
Inst Owners75.93%
Inst Owner Change-0.02%
Ins Owners0.48%
Ins Owner Change-0.96%
Market Cap274.72B
Revenue(TTM)127.86B
Net Income(TTM)16.30B
Analysts72.5
Price Target953.23 (2.35%)
Short Float %2.2%
Short Ratio2.67
Dividend
Industry RankSector Rank
Dividend Yield 1.94%
Yearly Dividend17.38
Dividend Growth(5Y)20.8%
DP32.37%
Div Incr Years14
Div Non Decr Years15
Ex-Date06-01
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)-2.88%
PT rev (3m)5.47%
EPS NQ rev (1m)4.06%
EPS NQ rev (3m)5.16%
EPS NY rev (1m)0.07%
EPS NY rev (3m)2.11%
Revenue NQ rev (1m)1.57%
Revenue NQ rev (3m)2.04%
Revenue NY rev (1m)-0.33%
Revenue NY rev (3m)1.84%
Valuation
Industry RankSector Rank
PE 17.02
Fwd PE 13.92
P/S 2.2
P/FCF N/A
P/OCF N/A
P/B 2.2
P/tB 2.32
EV/EBITDA 17.63
EPS(TTM)54.72
EY5.88%
EPS(NY)66.9
Fwd EY7.18%
FCF(TTM)-160.07
FCFYN/A
OCF(TTM)-153.07
OCFYN/A
SpS424.07
BVpS423.65
TBVpS400.63
PEG (NY)1.01
PEG (5Y)1.62
Graham Number722.216 (-22.45%)
Profitability
Industry RankSector Rank
ROA 0.9%
ROE 13.04%
ROCE 3.2%
ROIC 1.12%
ROICexc 1.25%
ROICexgc 1.26%
OM 17.53%
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)0.95%
ROIC(5y)1.13%
ROICexc(3y)1.1%
ROICexc(5y)1.38%
ROICexgc(3y)1.11%
ROICexgc(5y)1.39%
ROCE(3y)2.79%
ROCE(5y)3.11%
ROICexgc growth 3Y0.63%
ROICexgc growth 5Y-5.21%
ROICexc growth 3Y0.79%
ROICexc growth 5Y-5.18%
OM growth 3Y-3.7%
OM growth 5Y-8.71%
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 9.16
Debt/FCF N/A
Debt/EBITDA 47.5
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 -0.18
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)26.99%
EPS 3Y19.49%
EPS 5Y10.5%
EPS Q2Q%24.29%
EPS Next Y16.91%
EPS Next 2Y14.2%
EPS Next 3Y12.39%
EPS Next 5Y10.49%
Revenue 1Y (TTM)1.28%
Revenue growth 3Y22.11%
Revenue growth 5Y17.29%
Sales Q2Q%14.37%
Revenue Next Year8.97%
Revenue Next 2Y6.88%
Revenue Next 3Y5.11%
Revenue Next 5Y3.66%
EBIT growth 1Y18.73%
EBIT growth 3Y17.59%
EBIT growth 5Y7.08%
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 3 / 10 to GOLDMAN SACHS GROUP INC (GS). This can be considered as Overvalued.


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%.