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Earnings transcript
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GS
The Goldman Sachs Group, Inc.
$863.04
2.83
(0.33%)
| Exchange: | NYSE |
| Market Cap: | 256.11B |
| Shares Outstanding: | 475.9M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Financial – Capital Markets | |||||
| CEO: | David Solomon | |||||
| Full Time Employees: | 46600 | |||||
| Address: |
| |||||
| Website: | https://www.goldmansachs.com |
The Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The company’s Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services. This segment also offers underwriting services, such as equity underwriting for common and preferred stock and convertible and exchangeable securities; and debt underwriting for various types of debt instruments, including investment-grade and high-yield debt, bank and bridge loans, and emerging-and growth-market debt, as well as originates structured securities. Its Global Markets segment is involved in client execution activities for cash and derivative instruments; credit and interest rate products; and provision of equity intermediation and equity financing, clearing, settlement, and custody services, as well as mortgages, currencies, commodities, and equities related products. The company’s Asset Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds, private equity, real estate, currencies, and commodities; and provides customized investment advisory solutions, as well as invests in corporate, real estate, and infrastructure entities. Its Consumer & Wealth Management segment offers wealth advisory and banking services, including financial planning, investment management, deposit taking, and lending; private banking; and unsecured loans, as well as accepts saving and time deposits. The company was founded in 1869 and is headquartered in New York, New York.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 108,418,000 | 126,853,000 | 125,097,000 |
| Gross Profit | 45,226,000 | 52,164,000 | 59,396,000 |
| EBITDA | 15,595,000 | 20,789,000 | 24,034,000 |
| Operating Income | 10,739,000 | 18,397,000 | 21,852,000 |
| Net Income | 8,516,000 | 14,276,000 | 17,176,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 1,641,594,000 | 1,675,972,000 | 1,810,000,000 |
| Total Liabilities | 1,524,689,000 | 1,553,976,000 | 1,685,000,000 |
| Total Stockholders Equity | 116,905,000 | 121,996,000 | 125,000,000 |
| Total Debt | 583,135,000 | 616,935,000 | 619,000,000 |
| Cash and Cash Equivalents | 241,577,000 | 182,092,000 | 164,000,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | -12,587,000 | -13,212,000 | -45,154,000 |
| Capital Expenditure | -2,316,000 | -2,091,000 | -2,064,000 |
| Free Cash Flow | -14,903,000 | -15,303,000 | -47,218,000 |
| Net Income | 8,516,000 | 14,276,000 | 17,176,000 |
| Net Change in Cash | -248,000 | -59,485,000 | -17,833,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 65,904,729.320 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 72,510,614.505 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 69,242,305.747 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 15,540,135.506 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 17,097,783.219 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 16,327,125.916 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 22,227,363.109 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 25,168,358.175 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 23,713,280.122 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 12,598,145.691 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 13,860,906.419 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 13,236,146.553 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 74.660 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 79.250 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 69.990 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 5 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 4 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Financial Performance: Goldman Sachs reported robust results in Q3 2025, as highlighted in the earnings call transcript, with key financial metrics exceeding expectations. Revenue and net income growth reflect operational efficiency and effective capital allocation, supported by consistent positive trends in operating cash flow from cash flow statements.
- Market Leadership and Diversification: As a leading player in the investment banking industry within the financial services sector, GS benefits from a diversified revenue stream across product and geographic segments, as evidenced by revenue product and geo segment data. This mitigates risks associated with market-specific downturns.
- High Profitability Metrics: Key metrics such as gross profit margin TTM and net profit margin TTM indicate strong profitability compared to industry averages, positioning GS favorably against peers. Return on equity (ROE) TTM further underscores efficient use of shareholder capital.
- Solid Balance Sheet: Balance sheet data shows substantial cash and cash equivalents alongside manageable total liabilities relative to total assets, providing financial flexibility for strategic investments and resilience against economic fluctuations.
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Intrinsic Value Calculator
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Common questions about GS valuation
Is The Goldman Sachs Group, Inc. (GS) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for The Goldman Sachs Group, Inc. (GS) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is GS a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether GS trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is GS’s P/E ratio?
You can see GS’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for GS?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is GS a good long-term investment?
Whether GS fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
GS
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Daily snapshot
0.33
Trading Metrics:
| Open: | 839.67 | Previous Close: | 860.21 | |
| Day Low: | 831 | Day High: | 867.3 | |
| Year Low: | 439.38 | Year High: | 984.7 | |
| Price Avg 50: | 877.09 | Price Avg 200: | 808.77 | |
| Volume: | 1.372M | Average Volume: | 2.19M |
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Login — it's freeGS full analysis
Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive analysis of Goldman Sachs, ticker symbol GS, one of the heavyweight players in the financial world. Whether you’re a seasoned investor or just curious about this Wall Street giant, stick around because we’re breaking down everything from their financials to their market position, and even what their stock might be worth. Let’s get started! So, why are we talking about Goldman Sachs today? Well, they’ve been…
