Goldman Sachs Group Inc
Exchange: NYSESector: Financial ServicesIndustry: Capital Markets
Goldman Sachs is one of the leading investors in alternatives globally, with over $625 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has approximately $3.6 trillion in assets under supervision globally as of December 31, 2025. Established in 1996, Private Credit at Goldman Sachs Alternatives is one of the world's largest private credit investors with over $180 billion in assets across direct lending, mezzanine debt, hybrid capital and asset-based lending strategies. The team's deep industry and product knowledge, extensive relationships and global footprint position the firm to deliver scaled outcomes with speed and certainty, supporting companies from the lower middle market to large cap in size. Follow us on LinkedIn. SOURCE Arevon
Did you know?
GS's revenue grew at a 8.1% CAGR over the last 6 years.
Current Price
$863.04
+0.33%GoodMoat Value
$1732.75
100.8% undervaluedProfile
Valuation (TTM)
Market Cap$258.85B
P/E15.88
EV$1.01T
P/B2.07
Shares Out299.93M
P/Sales4.44
Revenue$58.28B
EV/EBITDA42.36
Goldman Sachs Group Inc (GS) Stock Analysis
GoodMoat Analysis
Goldman Sachs is a premier global investment bank with a strong competitive moat, but its current valuation is unfavourable according to the GoodMoat framework. The business scores highly on moat criteria like brand, regulatory barriers, and strategic partnerships. However, a negative free cash flow yield and high debt-to-equity ratio present significant quality and valuation concerns.
Read full analysis
Goldman Sachs Group Inc operates as a leading global investment banking, securities, and investment management firm. Its core competitive advantages, or moat, are significant. It scores highly on several framework criteria, including its powerful brand and cultural relevance in finance, substantial regulatory barriers to entry, and deep strategic partnerships with corporations and governments. Its scale and entrenched position in capital markets create high switching costs for clients. This suggests a Moat Score likely exceeding the 5+ threshold for a durable advantage. Financially, it shows strength with a 29.5% profit margin, 15.2% YoY revenue growth, and a solid 13.7% ROE. However, key quality indicators from the framework raise concerns. The Debt/Equity ratio of 7.39 is extremely high and fails the framework's low debt check. Most critically, the Free Cash Flow Yield is negative at -18.4%, which is a weak rating and a high-confidence red flag for cash burn. According to the Decision Framework, while the business may pass the Moat & Quality Gate on brand and profitability, it likely stumbles on the Valuation & Risk Gate. The negative FCF makes a standard DCF valuation challenging and the current P/E of 15.5x, while not extreme, does not offset the cash flow and balance sheet risks. The GoodMoat Target of $1,732.75 implies a large margin of safety, but this appears contingent on a dramatic reversal in cash generation. Given the presence of multiple high-confidence red flags, the overall assessment is unfavourable for further investigation at this price without a clear path to sustainable positive free cash flow. Analysis based on data as of 2024-05-15.
Market Cap$258.85B
Current Price$863.04
P/E Ratio15.88
Forward P/E—
PEG Ratio0.91
EPS$51.32
Book Value$416.67
P/B Ratio2.07
GS Financial Charts
FCF vs CAPEX
FCFCAPEX
Cash vs Debt
Net Debt: 759.3B
Revenue
36.5B
FY19
44.6B
FY20
59.3B
FY21
47.4B
FY22
46.3B
FY23
53.5B
FY24
58.3B
FY25
Net Income
8.5B
FY19
9.5B
FY20
21.6B
FY21
11.3B
FY22
8.5B
FY23
14.3B
FY24
17.2B
FY25
GS 52-Week Range
$452.87
$970.79
50-Day MA: $874.60200-Day MA: $802.00
Did you know?
GS's revenue grew at a 8.1% CAGR over the last 6 years.
Goldman Sachs Group Inc (GS) Financial Summary
Goldman Sachs Group Inc (GS) is a Financial Services company in the Capital Markets industry, listed on NYSE. The stock currently trades at $863.04 with a market capitalization of $258.85B.
Key valuation metrics include a P/E ratio of 15.88, price-to-book ratio of 2.07, and EPS of $51.32. The company reports a profit margin of 29.5% and return on equity of 13.7%.
GS Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $258.85B |
| P/E Ratio | 15.88 |
| EPS | $51.32 |
| P/B Ratio | 2.07 |
| P/S Ratio | 4.44 |
| EV/EBITDA | 42.36 |
| Dividend Yield | 2.04% |
| Profit Margin | 29.5% |
| Return on Equity | 13.7% |
| Debt/Equity | 7.39 |
GS Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $36.55B | $8.47B |
| FY20 | $44.56B | $9.46B |
| FY21 | $59.34B | $21.64B |
| FY22 | $47.37B | $11.26B |
| FY23 | $46.25B | $8.52B |
| FY24 | $53.51B | $14.28B |
| FY25 | $58.28B | $17.18B |
Goldman Sachs Group Inc (GS) Valuation
Based on GoodMoat's DCF model, Goldman Sachs Group Inc has a fair value estimate of $1732.75. At the current price of $863.04, the stock appears 50.2% undervalued relative to our intrinsic value estimate.
GS Quality Indicators
Goldman Sachs Group Inc maintains a profit margin of 29.5% and an operating margin of 37.5%. Return on equity stands at 13.7%. Debt-to-equity ratio is 7.39.
About Goldman Sachs Group Inc
Goldman Sachs is one of the leading investors in alternatives globally, with over $625 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs has approximately $3.6 trillion in assets under supervision globally as of December 31, 2025. Established in 1996, Private Credit at Goldman Sachs Alternatives is one of the world's largest private credit investors with over $180 billion in assets across direct lending, mezzanine debt, hybrid capital and asset-based lending strategies. The team's deep industry and product knowledge, extensive relationships and global footprint position the firm to deliver scaled outcomes with speed and certainty, supporting companies from the lower middle market to large cap in size. Follow us on LinkedIn. SOURCE Arevon
GS Free Cash Flow
Goldman Sachs Group Inc generated $-46.41B in trailing twelve-month free cash flow, representing an FCF yield of -17.93%. This low FCF yield may reflect heavy reinvestment or growth spending.
GS Shares Outstanding
Goldman Sachs Group Inc has 0.30 billion shares outstanding at a share price of $863.04, giving it a market capitalization of $258.85B.
GS Recent Insider Trades
Recent insider transactions at Goldman Sachs Group Inc include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| ROGERS JOHN F.W. (Executive Vice President) | SELL | 1,461 | $1.39M |
| COLEMAN DENIS P. (Chief Financial Officer) | SELL | 588 | $548827.44 |
| GOLTEN ALEX S (CHIEF RISK OFFICER) | SELL | 840 | $783703.20 |