# The Goldman Sachs Group, Inc. (GS)

> Source: Nexqual · https://nexqual.com/GS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, The Goldman Sachs Group, Inc. (GS), nexqual.com/GS" · informational, not investment advice.

**Price:** USD 891.3 (-1.48% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 904.72 · day 881–906.35 · 52w 744.66–1,153.99 · market cap $260B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $66.2B, net income $21.0B (31.7% margin) (SEC filings).
- Valuation: P/E 12.4x (avg 15.1x at the last 3 fiscal year-ends).
- 5 of 80 tracked superinvestors hold GS (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 0 new, 1 added, 3 reduced, 1 unchanged.
- Total return with dividends: 1Y +21.1% vs S&P 500 +14.9%; 5Y +142.8% vs S&P 500 +80.3%.
- Next earnings: 2027-01-19, EPS estimate USD 15.65, revenue estimate $17.6B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $59.3B | $47.4B | $46.3B | $53.5B | $58.3B | $66.2B |
| Net income | $21.6B | $11.3B | $8.52B | $14.3B | $17.2B | $21.0B |
| EPS (diluted) | $59.45 | $30.06 | $22.87 | $40.54 | $51.32 | — |
| Free cash flow | $1.63B | $4.96B | -$14.9B | -$15.3B | -$47.2B | -$41.5B |
| Net margin | 36.5% | 23.8% | 18.4% | 26.7% | 29.5% | 31.7% |
| Revenue growth | +33.2% | -20.2% | -2.3% | +15.7% | +8.9% | — |
| Cash + short-term investments | $261B | $242B | $242B | $182B | $164B | — |
| Total debt | $301B | $308B | $318B | $312B | $356B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.4x · P/S 3.9x · P/B 2.1x · FCF yield -16.00% · Earnings yield 8.08% · Dividend yield (paid, TTM) 2.36% · Buyback yield (TTM) 5.39%
P/E at fiscal year-ends: Dec 2025 16.3x, Dec 2024 13.4x, Dec 2023 15.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
5 of 80 tracked investors hold GS (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| Thomas Gayner | Markel Group | 2.77% | $363M | Unchanged | Q2 2026 |
| David Katz | Matrix Asset Advisors | 1.54% | $18.7M | Reduced -6.2% | Q3 2026 |
| Dodge & Cox Funds | Dodge & Cox | 0.07% | $136M | Reduced -90.3% | Q2 2026 |
| Yacktman Asset Management |  | 0.07% | $5.3M | Added +2.1% | Q2 2026 |
| Bill Nygren | Oakmark Funds | 0.04% | $27.5M | Reduced -5.0% | Q2 2026 |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | BMO Capital | Target lowered | Market Perform | $970 → $950 |
| 2026-10-16 | JP Morgan | Target raised | Neutral | $955 → $970 |
| 2026-10-14 | Citigroup | Target lowered | Neutral | $1050 → $1000 |
| 2026-10-14 | Keefe, Bruyette & Woods | Target lowered | Market Perform | $1130 → $1100 |
| 2026-10-14 | RBC Capital | Target lowered | Sector Perform | $1220 → $1010 |
| 2026-10-08 | TD Cowen | Initiated | Buy | $1050 |
| 2026-10-06 | BMO Capital | Target lowered | Market Perform | $972 → $970 |
| 2026-10-05 | UBS | Target lowered | Neutral | $1150 → $1010 |
| 2026-10-01 | Evercore ISI Group | Target lowered | Outperform | $1210 → $1000 |
| 2026-09-28 | HSBC | Target raised | Hold | $995 → $1007 |
| 2026-09-25 | Wells Fargo | Target lowered | Overweight | $1325 → $1175 |
| 2026-09-23 | Citigroup | Target lowered | Neutral | $1200 → $1050 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +21.1% | +142.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +21.1% | +19.4% |
| Volatility (annualized) | 32.0% | 28.0% |
| Max drawdown | -23.6% (Jul 2026→Oct 2026) | -31.3% (Oct 2021→Jun 2022) |

## Peers (Capital Markets)
MS (Morgan Stanley) USD 183.97 -1.63% · SCHW (Charles Schwab Corporation (The) USD 91.44 -0.22% · IBKR (Interactive Brokers Group, Inc.) USD 82.28 -3.57% · HOOD (Robinhood Markets, Inc.) USD 96.58 -5.25% · NMR (Nomura Holdings Inc) USD 9.04 -1.95% · TW (Tradeweb Markets Inc.) USD 121.89 +1.57%

## More
Full page: https://nexqual.com/GS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-10-13)

- "Conference Call A conference call to discuss the firm's financial results, outlook and related matters will be held at 9:30 am (ET)."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $15.65 | $15.60 | +0.3% | $17.64B | 18 |
| Next quarter (ends 2027-03-31) | $19.23 | $19.11 | +0.6% | $18.92B | 10 |
| Current fiscal year (ends 2026-12-31) | $71.33 | $70.64 | +1.0% | $72.94B | 21 |
| Next fiscal year (ends 2027-12-31) | $74.29 | $73.20 | +1.5% | $73.97B | 24 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-02-19 (includes earnings 2027-01-19): ±14.5%; earnings reaction alone ±2.7%; last 5 reports averaged ±3.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 38.0% | ±4.6% |
| 2026-11-06 | 14 | 35.2% | ±5.8% |
| 2026-11-13 | 21 | 34.6% | ±6.9% |
| 2026-11-20 | 28 | 32.7% | ±7.4% |
| 2026-11-27 | 35 | 31.8% | ±8.1% |
| 2026-12-04 | 42 | 31.3% | ±8.8% |
| 2026-12-18 | 56 | 31.5% | ±10.0% |
| 2027-01-15 | 84 | 31.2% | ±12.1% |