GOLDMAN SACHS GROUP INC (GS) Fundamental Analysis & Valuation

NYSE:GS • US38141G1040

Current stock price

934.84 USD
+8.29 (+0.89%)
At close:
933.077 USD
-1.76 (-0.19%)
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

  • In the past year GS was profitable.
  • In the past year GS has reported a negative cash flow from operations.
  • GS had positive earnings in each of the past 5 years.
  • 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

  • GS has a Return On Assets of 0.90%. This is in the lower half of the industry: GS underperforms 63.33% of its industry peers.
  • GS's Return On Equity of 13.04% is fine compared to the rest of the industry. GS outperforms 69.58% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 1.12%, GS is doing worse than 66.67% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for GS 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.
  • GS has a Operating Margin of 17.53%. This is in the lower half of the industry: GS underperforms 61.25% of its industry peers.
  • GS's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 40.20%, GS is in line with its industry, outperforming 41.67% of the companies in the same industry.
  • 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

  • Compared to 1 year ago, GS has less shares outstanding
  • 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

  • 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.
  • GS has a worse Altman-Z score (-0.18) than 80.00% of its industry peers.
  • A Debt/Equity ratio of 9.16 is on the high side and indicates that GS has dependencies on debt financing.
  • GS has a worse Debt to Equity ratio (9.16) 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.
  • GS's Current ratio of 0.32 is on the low side compared to the rest of the industry. GS is outperformed by 82.50% of its industry peers.
  • A Quick Ratio of 0.32 indicates that GS may have some problems paying its short term obligations.
  • GS has a worse Quick ratio (0.32) 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

  • The Earnings Per Share has grown by an impressive 26.99% over the past year.
  • The Earnings Per Share has been growing by 10.50% on average over the past years. This is quite good.
  • Looking at the last year, GS shows a small growth in Revenue. The Revenue has grown by 1.28% in the last year.
  • The Revenue has been growing by 17.29% on average over the past years. This is quite good.
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

  • GS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.49% yearly.
  • 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

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • 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

  • A Price/Earnings ratio of 17.08 indicates a rather expensive valuation of GS.
  • The rest of the industry has a similar Price/Earnings ratio as GS.
  • The average S&P500 Price/Earnings ratio is at 27.79. GS is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 13.97, the valuation of GS can be described as correct.
  • The rest of the industry has a similar Price/Forward Earnings ratio as GS.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 38.88, GS is valued rather cheaply.
Industry RankSector Rank
PE 17.08
Fwd PE 13.97
GS Price Earnings VS Forward Price EarningsGS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

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 74.58% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.53
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.
  • GS's earnings are expected to grow with 12.39% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.01
PEG (5Y)1.63
EPS Next 2Y14.2%
EPS Next 3Y12.39%

More info and screens

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

6

5. GS Dividend Analysis

5.1 Amount

  • GS has a Yearly Dividend Yield of 1.94%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 6.46, GS has a dividend in line with its industry peers.
  • GS's Dividend Yield is comparable with the S&P500 average which is at 1.81.
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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
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

  • 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 2Y14.2%
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 (4/22/2026, 8:04:00 PM)

After market: 933.077 -1.76 (-0.19%)

934.84

+8.29 (+0.89%)

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 Cap275.77B
Revenue(TTM)127.86B
Net Income(TTM)16.30B
Analysts72.5
Price Target953.23 (1.97%)
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 17.08
Fwd PE 13.97
P/S 2.2
P/FCF N/A
P/OCF N/A
P/B 2.21
P/tB 2.33
EV/EBITDA 17.53
EPS(TTM)54.72
EY5.85%
EPS(NY)66.9
Fwd EY7.16%
FCF(TTM)-160.07
FCFYN/A
OCF(TTM)-153.07
OCFYN/A
SpS424.07
BVpS423.65
TBVpS400.63
PEG (NY)1.01
PEG (5Y)1.63
Graham Number722.216 (-22.74%)
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 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%.