The Goldman Sachs Group, Inc.
- Open
- 1088.52
- Day high
- 1088.52
- Day low
- 1047.15
- Prev close
- 1095.46
- Volume
- 2.1M
- Mkt cap
- $314.2B
- P/E (TTM)
- 16.2
- EPS (TTM)
- $65.64
- P/B
- 2.6
- P/S
- 2.7
- Yield
- 1.60%
- Per share
- $17.00
- ▼Insiders net selling -$35.6M over the last 3 months (0 open-market buys, 24 sales)
- 🏛Institutions mixed (13F)
The Goldman Sachs Group, Inc. (GS) is a Financial Services company listed on NYSE. The stock is up 50% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 24 sales (SEC Form 4). Drillr has 12 published research articles covering GS.
The Goldman Sachs Group, Inc. (GS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 11 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 14, 2026 | $14.47 | $20.98 | +45.0% | $20.3B | +25.3% |
| Apr 13, 2026 | $16.47 | $17.55 | +6.6% | $17.2B | +1.4% |
| Jan 21, 2026 | $11.52 | $11.95 | +3.7% | $30.1B | — |
| Oct 14, 2025 | $11.03 | $12.25 | +11.1% | $15.2B | +7.5% |
| Jul 16, 2025 | $9.65 | $10.91 | +13.1% | $14.6B | +8.0% |
| Apr 14, 2025 | $12.32 | $14.12 | +14.6% | $15.1B | +2.0% |
| Jan 15, 2025 | $8.03 | $11.95 | +48.8% | $13.9B | +12.2% |
| Oct 15, 2024 | $6.89 | $8.40 | +21.9% | $12.7B | +7.9% |
| Jul 15, 2024 | $8.34 | $8.62 | +3.4% | $12.7B | +3.1% |
| Apr 15, 2024 | $8.56 | $11.58 | +35.3% | $14.2B | +9.8% |
| Jan 16, 2024 | $3.51 | $5.48 | +56.1% | $11.3B | +14.7% |
| Oct 17, 2023 | $5.31 | $5.47 | +3.0% | $11.8B | +1.4% |
GS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 18, 2026 | COLEMAN DENIS P.officer: Chief Financial Officer | Sell | 2,509 | $972.29 |
| May 18, 2026 | COLEMAN DENIS P.officer: Chief Financial Officer | Sell | 1,360 | $974.53 |
| May 18, 2026 | COLEMAN DENIS P.officer: Chief Financial Officer | Sell | 1,560 | $973.19 |
| May 18, 2026 | COLEMAN DENIS P.officer: Chief Financial Officer | Sell | 1,428 | $975.21 |
| May 8, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 481 | $934.76 |
| May 8, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 814 | $938.42 |
| May 8, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 837 | $936.24 |
| May 8, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 2,671 | $939.33 |
| May 8, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 437 | $933.08 |
| May 8, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 479 | $934.04 |
| May 8, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 8,250 | $940.23 |
| May 8, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 120 | $941.25 |
| May 8, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 203 | $936.70 |
| May 5, 2026 | Ruemmler Kathryn H.officer: Chief Legal Officer, GC | Sell | 468 | $929.71 |
| May 5, 2026 | FREDMAN SHEARA Jofficer: Chief Accounting Officer | Sell | 8,166 | $930.21 |
Source: GS SEC Form 4 filings, latest May 18, 2026. For informational purposes only — not investment advice.
See the full GS insider & 13F page →GS research & analysis
GS Stock: SpaceX IPO Fees and Retail Risk
GS lead bookrunner on SpaceX 4x oversubscribed IPO. Single deal $300-400M net economics. Retail allocation creates underwriter risk dynamics.
MSCGS, JPM, MS: Wall Street AI Won't Replace Investment Bankers
Goldman Solomon: 'no AI jobs apocalypse'. GS/JPM/MS price margin expansion (productivity) not headcount compression. Cohort positioning across three scenarios.
JPMMSBACWhich Banks Capture the $197B IPO Wave: Goldman and Morgan Stanley or the Diversified Giants?
Blackstone's Q1 beat and 'best year ever' IPO forecast confirm the $197B pipeline is executable, yet Goldman Sachs and Morgan Stanley trade at the same 12-13x forward multiple as JPMorgan despite deriving 18-22% of revenue from investment banking versus JPM's 7%. Long GS and MS versus JPM over six months targets 8-12% relative return as Q2 and Q3 underwriting revenue surfaces the fee differential.
MSCOINBXEurope's 21-Hour Trading Days Are Boosting VLO, XOM & CVX Margins
Europe's surging energy market volatility, with traders facing 21-hour days per Bloomberg, spills over to boost US refining margins for Valero, Exxon, and Chevron while supercharging commodities trading at Goldman Sachs and JPMorgan. Recent financials show resilient FCF and margins, with VLO leading price gains at +43% over 3M. Bullish: Buy the dip for volatility-fueled profits.
XOMCVXJPMFed Private Credit Crackdown: JPM at Risk While BX, APO, KKR Stand to Win
The Federal Reserve's scrutiny of banks' private credit exposure creates a divergence in financial stocks: traditional banks like JPMorgan face regulatory risks while alternative asset managers like Blackstone and Apollo stand to gain market share. This analysis ranks six financial giants based on their exposure and positioning for the coming regulatory changes.
JPMMSBXStagflation Trade: XOM and NEM Ranked Ahead of GS and NFLX Earnings
Ahead of March PPI and GS/NFLX earnings, stagflation favors XOM, NEM, and COST over vulnerable banks and streamers. Energy and gold lead with strong FCF and margins, while GS faces growth headwinds. Ranked picks emphasize cheap inflation hedges.
TIPGLDXLPSpaceX IPO 2026: GS & MS Eye Fee Windfall as AI Unicorn Pipeline Breaks Open
See It Market's report on easing 2026 IPO bottlenecks—with SpaceX and AI unicorns leading—positions MS and GS for fee windfalls amid rebounding underwriting pipelines. Recent 20%+ IB revenue growth and healthy backlogs support bullish calls, while ARKK eyes innovation upside despite YTD lags.
MSARKKPPI Report + Fed Rate Delay: Why JPM, BAC and WFC Are the Surprise Winners
Resilient U.S. labor data ahead of PPI and Goldman earnings signals fewer Fed cuts, boosting big banks' NII. JPM, BAC, and WFC lead with strong deposits and growth guidance, while GS and COF lag on exposure.
JPMBACWFCSEC Options Roundtable: CBOE and ICE Face Fee Reform as PFOF Scrutiny Hits SCHW, IBKR
SEC's options roundtable agenda release advances reform talks on liquidity and fees, spotlighting ICE and CBOE's dominance amid record volumes. Brokers like SCHW/IBKR face PFOF scrutiny, but exchanges' premiums reflect growth tailwinds. Neutral outlook favors scaled players.
ICECBOESCHWUS-Iran Ceasefire Talks: Oil's Next Move Could Make or Break XLE's 8% Rally
Jane Fraser's NY Fed Council appointment spotlights big banks' rotating regulatory influence, with JPM, Citi, and MS best positioned for policy foresight amid flat TTM growth and weak shares. Analysis ranks six majors by exposure, metrics, and conviction. Key: NII guidance and Basel outcomes to track.
CJPMBACQ1 M&A Megadeal Surge: EVR and HLI Ranked Ahead of MS, GS, JPM for Advisory Fees
Anchored in Morgan Stanley's insights on AI, energy, and oil driving M&A, this analyzes six firms' exposure to Q1's megadeal boom. Boutiques like Evercore and Houlihan Lokey lead conviction rankings due to high-margin advisory focus, followed by bulge-bracket giants.
MSJPMBACSEC Enforcement Surge Hits JPM and GS — But COIN Looks Most Vulnerable
SEC fines surged in FY2025 per Bloomberg's April 7 report, shifting from Biden priorities—hammering financials (JPM, GS) and crypto (COIN) via debt strains and probes, while tech holds firm. Banks' profits resilient; COIN vulnerable. Bullish JPM/GS, cautious elsewhere.
JPMCOIN
The Goldman Sachs Group, Inc. company profile
Overview
The Goldman Sachs Group, Inc. (NYSE:GS) is one of the world's leading investment banks and financial services companies, founded in 1869 by Marcus Goldman in New York City. What began as a commercial paper business has evolved into a global financial powerhouse serving corporations, financial institutions, governments, and high-net-worth individuals worldwide. The firm went public in 1999 and has since established itself as a premier Wall Street institution, known for its investment banking prowess, trading capabilities, and wealth management services. Today, Goldman Sachs operates through four main business segments and maintains a significant presence in major financial centers globally.
Business
Goldman Sachs operates as a comprehensive financial services institution across four primary business segments, each serving distinct market needs and client bases. The Investment Banking segment provides advisory and underwriting services to large corporations and institutions. This includes mergers and acquisitions advisory, where Goldman advises companies on buying, selling, or combining businesses; equity underwriting, which involves helping companies raise capital by issuing stocks to public investors; and debt underwriting, where the firm helps corporations and governments issue bonds and other debt securities. The investment banking division also provides middle-market lending and structured finance solutions. The Global Markets segment operates as the firm's trading and market-making arm. This division facilitates client trading in various financial instruments including stocks, bonds, currencies, commodities, and derivatives. Market-making involves Goldman standing ready to buy or sell securities to provide liquidity to markets, earning profits from the bid-ask spread. The segment also provides prime brokerage services to hedge funds and other institutional investors, offering financing, securities lending, and custody services. The Asset Management segment manages investments for institutional and individual clients across multiple asset classes. This includes traditional investments like stocks and bonds, as well as alternative investments such as private equity, real estate, hedge funds, and infrastructure. The division generates revenue primarily through management fees (typically 1-2% of assets annually) and performance fees when investments exceed certain return thresholds. Assets under supervision have grown to a record $3.2 trillion as of Q1 2025. The Consumer & Wealth Management segment serves high-net-worth individuals and families through private banking, wealth advisory, and lending services. This includes financial planning, investment management, and specialized lending products. The firm has been narrowing its consumer banking ambitions, moving away from mass-market consumer products to focus on its traditional strength in serving wealthy clients. Based on recent financial data, Global Banking & Markets generates approximately 55-60% of total revenues, Asset & Wealth Management contributes around 25-30%, with the remaining coming from Consumer & Wealth Management operations.
Revenue model
Goldman Sachs generates revenue through multiple interconnected business models that capitalize on different aspects of financial markets and client relationships. Fee-based revenue forms a significant portion of the firm's income. Investment banking fees are earned when Goldman advises on mergers and acquisitions or underwrites securities offerings, typically charging 1-7% of transaction value depending on complexity and size. Asset management generates steady management fees of 1-2% annually on assets under management, plus performance fees of 15-20% when investments exceed return hurdles. These fees provide relatively stable, recurring revenue streams. Trading and market-making revenue comes from the Global Markets division, where Goldman profits from bid-ask spreads, proprietary trading positions, and client facilitation. The firm earns money by buying securities at lower prices and selling at higher prices, while also taking calculated risks on market movements. This revenue source can be highly volatile, depending on market conditions and trading volumes. Net interest income is generated through the firm's lending activities, including loans to wealthy individuals, margin lending to institutional clients, and various financing arrangements. Goldman borrows money at lower rates and lends at higher rates, capturing the interest rate differential. Several factors significantly impact Goldman's margins and profitability. Market volatility generally increases trading revenues as clients trade more frequently and bid-ask spreads widen, but can also lead to trading losses. Interest rate environments affect both trading revenues and net interest margins - rising rates can boost lending margins but may reduce bond trading activity. Regulatory changes like Basel III capital requirements can increase costs and limit certain activities. Competition from other investment banks, fintech companies, and asset managers pressures fee levels and market share. Economic cycles heavily influence investment banking activity, as companies are more likely to pursue mergers, acquisitions, and public offerings during strong economic periods. Finally, investor sentiment toward risk assets affects asset management fee revenue, as assets under management fluctuate with market valuations.
Competitive moat
Goldman Sachs possesses several competitive advantages that create meaningful barriers to entry, though the strength of these moats varies across business lines and faces ongoing challenges. The firm's brand reputation and relationships represent its strongest moat. Goldman's century-plus history and prestigious reputation provide privileged access to high-profile deals and wealthy clients. Corporate executives and government officials often prefer working with Goldman due to its perceived expertise and discretion. These relationships, built over decades, are difficult for competitors to replicate quickly. Human capital and expertise form another significant advantage. Goldman attracts top talent from elite universities and competitors, creating a self-reinforcing cycle of excellence. The firm's professionals possess deep industry knowledge, complex financial modeling skills, and extensive networks that are valuable to clients and difficult to replicate. The firm's global scale and integrated platform allows it to offer comprehensive services across multiple business lines and geographies. A client might use Goldman for investment banking advice, trading services, and wealth management simultaneously, creating switching costs and deeper relationships. However, Goldman's moat faces several challenges. Regulatory pressures continue to limit proprietary trading and increase capital requirements, reducing some traditional advantages. Technology disruption threatens certain business lines, as fintech companies offer lower-cost alternatives to traditional services. Fee compression in asset management and increased competition in investment banking are eroding margins. The cyclical nature of investment banking and trading revenues also limits the durability of Goldman's competitive position. During market downturns, even strong relationships may not generate sufficient deal flow or trading volumes. Overall, Goldman maintains a moderately strong moat in investment banking and wealth management through relationships and expertise, but faces increasing competitive pressures in trading and asset management. The firm's ability to maintain its moat depends on continued investment in technology, talent retention, and adapting to regulatory changes while leveraging its integrated platform advantages.
Risks & safety
Goldman Sachs presents a mixed margin of safety profile, with strong capital position offset by inherent financial sector risks and cyclical earnings volatility. **Overall Assessment:** Moderate margin of safety due to strong capital base but high leverage typical of investment banks. **Capital and Liquidity:** • Cash and short-term investments: $167.4 billion (Q1 2025) • Current ratio: 0.90 (below 1.0 indicates potential liquidity concerns) • Total assets: $1.77 trillion with highly liquid securities portfolio • Debt-to-equity ratio: 4.91 (high leverage typical for investment banks) • Regulatory capital ratios well above minimum requirements **Valuation Metrics:** • Price-to-earnings ratio: 9.2x (relatively attractive for financial services) • Price-to-book ratio: 1.41x (reasonable premium to book value) • Return on equity: 11.7% (2024 full year, below management's mid-teens target) • Trading at discount to historical averages **Other Considerations:** • Earnings highly cyclical and dependent on market conditions • Significant exposure to counterparty and market risks • Regulatory capital requirements provide buffer but limit flexibility • Strong fee-based revenue streams provide some stability • Stress test results indicate ability to maintain capital during adverse scenarios
Recent development
Over the past few years, Goldman Sachs has undergone significant strategic transformation, moving away from consumer banking ambitions toward its traditional strengths while investing heavily in technology and alternatives. The most notable strategic pivot involved narrowing the consumer banking strategy. Goldman retreated from its Marcus consumer lending platform, ceased new personal loans, postponed checking account launches, and sold the GreenSky point-of-sale lending business. This represented a major reversal from the firm's earlier attempts to diversify into mass-market consumer banking, acknowledging that the strategy was overly ambitious and didn't leverage Goldman's core competencies. Alternatives and private markets expansion has become a central growth driver. Goldman exceeded $70 billion in alternatives fundraising in 2024, with management targeting growth in private credit assets from $130 billion to $300 billion over five years. The firm has been building capabilities across private equity, real estate, infrastructure, and credit strategies to capitalize on the secular shift toward alternative investments. Technology and artificial intelligence investments represent another key development area. Goldman is implementing AI solutions across research, investment banking, engineering, and client services to improve productivity and create capacity for higher-value activities. The firm views technology as critical for maintaining competitive advantages and operational efficiency. The creation of a Capital Solutions Group demonstrates Goldman's effort to provide more comprehensive financing offerings to clients, integrating traditional investment banking with lending and alternative financing solutions. This reflects the firm's "One Goldman Sachs" approach to leveraging its integrated platform. Operational efficiency initiatives include a three-year program focusing on organizational optimization, spend management, and technology-driven improvements. Management has been actively managing expenses while investing in growth areas, including selective headcount reductions and process improvements. Finally, Goldman has been engaging actively with regulators on capital requirements and stress testing processes, including filing suit against the Federal Reserve to seek more transparency in stress testing methodologies. The firm anticipates potential regulatory relief under changing political environments.
GS company profile · for informational purposes only — not investment advice.
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