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The Goldman Sachs Group, Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.
| Market cap | $279.3B | |
|---|---|---|
| Revenue (ttm) | 71B | |
| Net income (ttm) | 21.3B | |
| EPS (ttm) | $69.5 | |
| Shares out | 302.8M | |
| P/E (trailing) | 13.3x | |
| P/E (forward) | 12.7x | |
| Dividend | $20.0 (2.16%) | |
| Volume | 1,385,599 | |
| Beta | 1.28 |
Recent price action with selectable time range.
| Item | P1 | P2 | P3 | P4 | P5 | Trend |
|---|---|---|---|---|---|---|
| Period | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Trend |
| Revenue | $64.99B | $68.71B | $108.42B | $126.85B | $125.10B | +17.8% |
| Gross profit | $58.98B | $44.65B | $45.23B | $52.16B | $59.40B | +0.2% |
| Operating income | $27.04B | $13.49B | $10.74B | $18.40B | $21.85B | -5.2% |
| Net income | $21.64B | $11.26B | $8.52B | $14.28B | $17.18B | -5.6% |
| EPS (diluted) | $59.45 | $30.06 | $22.87 | $40.54 | $51.32 | -3.6% |
| EBITDA | $29.06B | $15.94B | $15.60B | $20.79B | $24.03B | -4.6% |
| R&D | — | — | — | — | — | — |
| SG&A | $17.72B | $15.15B | $15.50B | $16.71B | $18.91B | +1.6% |
Recent company headlines from major financial publishers.
Under the base path with 55.0% probability, investment banking activity normalizes, lifting earnings steadily through FY2030, resulting in a target of $655.45 and an expected return of -31.0% from $949.49. For this path to hold, advisory backlog must convert into completed deals while Asset & Wealth Management maintains steady net inflows. Disconfirmation would occur if deal completions stall or operating margins compress.
Under the bull path with 20.0% probability, a multi-year global dealmaking boom drives underwriting fees above prior cyclical peaks, producing a target of $865.74 and a return of -8.8% from $949.49. This outcome requires surging corporate restructuring, robust sponsor monetization, and rapid market share gains in Asia. Disconfirmation would appear if market volatility interrupts debt syndication.
| Ke ↓ / g → | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 8.0% | $718 | $725 | $732 | $741 | $753 |
| 9.0% | $681 | $686 | $691 | $697 | $705 |
| 10.0% | $648 | $652 | $655 | $660 | $665 |
| 11.0% | $618 | $621 | $624 | $627 | $631 |
| 12.0% | $591 | $593 | $596 | $598 | $601 |
Upcoming earnings date and setup when available.
The rating each month's published research edition carried. A rating compares the price at analysis with the Fair value; it is not a record of whether the call was right.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
