Goldman Sachs remains a premier global franchise, successfully pivoting toward durable Asset & Wealth Management fees. However, current market pricing implies an uninterrupted continuation of peak-cycle earnings and permanently expanded multiples. Fair value range: low $451, high $787, with mid-point at $628.
Stock analysis
The Goldman Sachs Group Inc.GS The Goldman Sachs Group Inc. fair value $628–$787
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§1 Samenvatting
Market exuberance prices Goldman at peak-cycle margins and elevated multiples.
Through-the-cycle normalized ROE of 13.04% implies a fair value of $628.13.
Significant downside risk exists if capital markets activity normalizes.
Fair value
$628
Margin of safety
-49.1%
Confidence
73/100
Moat
6.5/10
Educational analysis only — not financial advice. Always do your own due diligence.
$936.48Price
FV $628.13
High $786.68
Goldman Sachs remains a premier global franchise, successfully pivoting toward durable Asset & Wealth Management fees. However, current market pricing implies an uninterrupted continuation of peak-cycle earnings and permanently expanded multiples.
Intangible Assets
Premier global investment banking franchise and brand equity.
Switching Costs
Deep institutional relationships in Asset & Wealth Management.
A prolonged capital markets freeze combined with severe macroeconomic contraction drives M&A and underwriting volumes to multi-year lows. Simultaneously, mark-to-market losses on private investments erode book value, forcing a reduction in share repurchases to preserve regulatory capital.
Based on our latest analysis, GS looks meaningfully overvalued. The current price is $936 versus a composite fair-value midpoint of $628 (range $451–$787), which implies roughly 32.9% downside to the midpoint.
Our composite fair-value range for GS is $451–$787, with a midpoint of $628. The range is triangulated across multiple valuation models (discounted earnings, forward earnings scenarios, peer multiples, and where applicable owner earnings or reverse DCF) and weighted by reliability for The Goldman Sachs Group Inc.'s archetype.
Our current rating for GS is Sell with a confidence score of 73/100. Sell. With shares trading at $936.48 against our $628.13 fair value, the risk/reward is heavily skewed to the downside, implying 33% downside risk. This is research for educational purposes, not personalized investment advice.
The top risks our latest report flags for The Goldman Sachs Group Inc. are: Sustained Capital Markets Freeze; Regulatory Capital Hike; Asset Management Write-downs. The single biggest risk is Sustained Capital Markets Freeze: Prolonged macroeconomic uncertainty stalls M&A and underwriting pipelines, structurally dragging investment banking revenues.
Our current rating for GS is Sell, issued with a confidence score of 73/100 and a moat score of 6.5/10. The rating reflects the composite fair-value range ($451–$787) versus the current price of $936.
The Goldman Sachs Group Inc. is classified as a financial stock. Archetype determines how every downstream parameter — discount rate, terminal growth, deceleration curve, terminal multiple, scenario probability weights, scorecard weights, and which valuation models are prioritized — is calibrated for GS.
