Investopedia·15h ago
Financials Stocks Are Charging Into Q2 Earnings. Why Wall Street Sees More Gains AheadFinancial sector stocks are ripping into their second quarter earnings reports. Wall Street analysts think the strength is justified.
The Goldman Sachs Group, Inc.(GS)Earnings, Financials & Key Ratios
GS•NYSE•Banking & Credit
$1042.98
20.3× P/E·Price updated Jul 7, 2026
AboutThe 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.Show more
- Net Interest Income$13.56B+68.3%
- Total Revenue$125.1B-1.4%
- Net Income$17.18B+20.3%
- Return on Equity13.91%+16.4%
- Net Interest Margin0.75%+55.9%
- Efficiency Ratio30.01%+12.7%
- ROA0.99%+14.5%
- Equity / Assets6.91%-5.1%
- Book Value per Share393.49+7.6%
GS Price & Volume
The Goldman Sachs Group, Inc. (GS) stock price & volume — 10-year historical chart
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Volatile Cash Flows Mask Structural Capital Risks
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Vulnerable
Cash Flow:Deteriorating
Primary Risk:Regulatory Capital Adequacy Constraints
Key Thesis Takeaways
- Goldman Sachs faces a challenging outlook characterized by extreme cash flow volatility and a deteriorating liquidity profile, as evidenced by the collapse of cash reserves to $7.0 billion in 2026Q1.
- While the firm maintains a significant market presence, the reliance on debt-heavy financing, reflected in a 6.06 debt-to-equity ratio, suggests heightened sensitivity to market-making cycles.
- Investors should monitor the sustainability of capital returns, as the firm continues to distribute $6.6 billion in dividends and buybacks despite experiencing negative free cash flow of $32.4 billion in the most recent quarter.
Verdict Logic
Negative: The firm's operating cash flow to net income ratio of negative 5.66 in 2026Q1 highlights a profound disconnect between accounting profits and actual cash generation that warrants extreme caution.
GS Growth Metrics
The Goldman Sachs Group, Inc. (GS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years12.31%
5 Years18.52%
3 Years22.11%
TTM-
Profit CAGR
10 Years10.94%
5 Years12.67%
3 Years15.11%
TTM21.41%
EPS CAGR
10 Years15.51%
5 Years15.71%
3 Years19.52%
TTM27.06%
Return on Capital
10 Years3.25%
5 Years3.72%
3 Years3.28%
Last Year3.97%
GS Recent Earnings
The Goldman Sachs Group, Inc. (GS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 10/12 qtrs (91%)
Q2 2026Latest
Apr 13, 2026Metric
Actual
Est
EPS
$17.55+6.6%
$16.47
Rev
$17.2B+1.4%
$17.0B
Q1 2026
Jan 21, 2026Metric
Actual
Est
EPS
$11.95+3.7%
$11.52
Rev
$30.1B
—
Q1 2026
Jan 15, 2026Metric
Actual
Est
EPS
$14.01+19.7%
$11.70
Rev
$13.5B-7.3%
$14.5B
Q4 2025
Oct 14, 2025Metric
Actual
Est
EPS
$12.25+11.1%
$11.03
Rev
$15.2B+7.5%
$14.1B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 13, 2026 | $17.55vs $16.47+6.6% | $17.2Bvs $17.0B+1.4% |
| Q1 2026 | Jan 21, 2026 | $11.95vs $11.52+3.7% | $30.1B |
| Q1 2026 | Jan 15, 2026 | $14.01vs $11.70+19.7% | $13.5Bvs $14.5B-7.3% |
| Q4 2025 | Oct 14, 2025 | $12.25vs $11.03+11.1% | $15.2Bvs $14.1B+7.5% |
Based on last 12 quarters of dataView full earnings history →
Latest GS News
Recent stock market news and headlines for The Goldman Sachs Group, Inc. (GS)
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Peers Comparison
Key metrics vs top competitors for The Goldman Sachs Group, Inc. (GS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $1042.98 | $321.24B | 20.32 | -1.38% | 13.73% | 13.91% | 1.59% | |
| $222.04 | $350.22B | 21.77 | 11.48% | 15.13% | 16.22% | — | |
| $339.22 | $908.94B | 16.92 | 3.31% | 20.66% | 16.32% | — | |
| $59.86 | $424.8B | 15.67 | -0.45% | 18.13% | 10.5% | — | |
| $140.75 | $241.37B | 20.14 | -1.41% | 9.34% | 7.49% | — | |
| $120.88 | $94.7B | 31.15 | 21.58% | 20.38% | 14.25% | — |
Compare GS vs Peers
The Goldman Sachs Group, Inc. (GS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
GS SEC Filings & Documents
The Goldman Sachs Group, Inc. (GS) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
1Material company update
Apr 13, 2026·SEC
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GS Frequently Asked Questions
The Goldman Sachs Group, Inc. (GS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is The Goldman Sachs Group, Inc. growing?
The Goldman Sachs Group, Inc. (GS) saw revenue decline by 1.4% over the past year.
Is GS profitable?
Yes, The Goldman Sachs Group, Inc. (GS) is profitable, generating $18.07B in net income for fiscal year 2025 (13.7% net margin).
Dividend & Returns
Does GS pay dividends?
Yes, The Goldman Sachs Group, Inc. (GS) pays a dividend with a yield of 1.59%. This makes it attractive for income-focused investors.
What is GS's return on equity?
The Goldman Sachs Group, Inc. (GS) has a return on equity (ROE) of 13.9%. This is reasonable for most industries.
Industry Metrics
What is The Goldman Sachs Group, Inc.'s net interest margin?
The Goldman Sachs Group, Inc. (GS) has a net interest margin (NIM) of 0.7%. NIM has been under pressure due to interest rate environment.
What is The Goldman Sachs Group, Inc.'s efficiency ratio?
The Goldman Sachs Group, Inc. (GS) has an efficiency ratio of 30.0%. This is excellent, indicating strong cost control.