The Goldman Sachs Group, Inc. (GS) P/E Ratio History
ExpensiveTrading at 20.3x vs 5Y avg 12.3x · 100th percentile · Material premium to history · Data 2000–2026
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P/E Ratio Analysis
As of July 8, 2026, The Goldman Sachs Group, Inc. (GS) trades at a price-to-earnings ratio of 20.3x, with a stock price of $1042.98 and trailing twelve-month earnings per share of $58.66.
The current P/E is 66% above its 5-year average of 12.3x. Over the past five years, GS's P/E has ranged from a low of 6.1x to a high of 17.1x, placing the current valuation at the 100th percentile of its historical range.
Compared to the Financial Services sector median P/E of 14.3x, GS trades at a 42% premium to its sector peers. The sector includes 800 companies with P/E ratios ranging from 0.0x to 157.0x.
The PEG ratio of 1.29 (P/E divided by 27% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, GS trades at a notable discount to the S&P 500 median P/E of 25.9x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our GS DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
GS Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
GS P/E vs Peers
Investment Banking and M&A Advisory peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $350B | 21.8 | 2.28 | +28% | |
| $909B | 16.9 | 0.96Best | +2% | |
| $425B | 15.7Lowest | 1.02 | +19% | |
| $241B | 20.1 | 2.48 | +17% | |
| $95B | 31.2 | 1.49 | +7% | |
| $85B | 40.7 | - | -29% | |
| $4B | 19.2 | - | -19% | |
| $13B | 24.7 | 2.18 | +55%Best | |
| $4B | 25.2 | 2.90 | +36% | |
| $10B | 22.4 | 3.47 | +7% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
GS Historical P/E Data (2000–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $845.99 | $54.75 | 15.5x | +22% |
| FY2025 Q4 | Dec 31 2025 | $879.00 | $51.32 | 17.1x | +36% |
| FY2025 Q3 | - | $796.35 | $49.27 | 16.2x | +28% |
| FY2025 Q2 | Jun 30 2025 | $707.75 | $45.42 | 15.6x | +23% |
| FY2025 Q1 | Mar 31 2025 | $546.29 | $43.09 | 12.7x | +0% |
| FY2024 Q4 | - | $572.62 | $40.55 | 14.1x | +12% |
| FY2024 Q3 | Sep 30 2024 | $495.11 | $34.13 | 14.5x | +15% |
| FY2024 Q2 | Jun 30 2024 | $452.32 | $31.20 | 14.5x | +15% |
| FY2024 Q1 | Mar 31 2024 | $417.69 | $25.66 | 16.3x | +29% |
| FY2023 Q4 | Dec 31 2023 | $385.77 | $22.87 | 16.9x | +34% |
| FY2023 Q3 | Sep 30 2023 | $323.57 | $20.66 | 15.7x | +24% |
| FY2023 Q2 | Jun 30 2023 | $322.54 | $23.44 | 13.8x | +9% |
| FY2023 Q1 | Mar 31 2023 | $327.11 | $28.09 | 11.6x | -8% |
| FY2022 Q4 | Dec 31 2022 | $343.38 | $30.06 | 11.4x | -9% |
| FY2022 Q3 | Sep 30 2022 | $293.05 | $37.91 | 7.7x | -39% |
| FY2022 Q2 | - | $297.02 | $44.86 | 6.6x | -48% |
| FY2022 Q1 | - | $330.10 | $52.54 | 6.3x | -50% |
| FY2021 Q4 | Dec 31 2021 | $382.55 | $60.72 | 6.3x | -50% |
| FY2021 Q3 | - | $378.03 | $62.03 | 6.1x | -52% |
| FY2021 Q2 | Jun 30 2021 | $379.53 | $55.81 | 6.8x | -46% |
| FY2021 Q1 | Mar 31 2021 | $327.00 | $41.44 | 7.9x | -37% |
| FY2020 Q4 | - | $263.71 | $25.61 | 10.3x | -18% |
| FY2020 Q3 | Sep 30 2020 | $200.97 | $17.82 | 11.3x | -11% |
| FY2020 Q2 | - | $197.62 | $13.85 | 14.3x | +13% |
| FY2020 Q1 | - | $154.59 | $18.62 | 8.3x | -34% |
| FY2019 Q4 | - | $229.93 | $21.40 | 10.7x | -15% |
| FY2019 Q3 | Sep 30 2019 | $207.23 | $22.75 | 9.1x | -28% |
| FY2019 Q2 | Jun 30 2019 | $204.60 | $24.20 | 8.5x | -33% |
| FY2019 Q1 | Mar 31 2019 | $191.99 | $24.37 | 7.9x | -38% |
| FY2018 Q4 | Dec 31 2018 | $167.05 | $25.67 | 6.5x | -48% |
| FY2018 Q3 | Sep 30 2018 | $224.24 | $14.68 | 15.3x | +21% |
| FY2018 Q2 | Jun 30 2018 | $220.57 | $13.47 | 16.4x | +30% |
| FY2018 Q1 | Mar 31 2018 | $251.86 | $11.44 | 22.0x | +74% |
| FY2017 Q4 | Dec 31 2017 | $254.76 | $9.62 | 26.5x | +110% |
| FY2017 Q3 | Sep 30 2017 | $237.19 | $19.65 | 12.1x | -4% |
| FY2017 Q2 | Jun 30 2017 | $221.90 | $19.27 | 11.5x | -9% |
| FY2017 Q1 | Mar 31 2017 | $229.72 | $19.04 | 12.1x | -4% |
| FY2016 Q4 | Dec 31 2016 | $239.45 | $16.35 | 14.6x | +16% |
| FY2016 Q3 | Sep 30 2016 | $161.27 | $12.54 | 12.9x | +2% |
| FY2016 Q2 | - | $148.58 | $10.57 | 14.1x | +11% |
| FY2016 Q1 | - | $156.98 | $8.83 | 17.8x | +41% |
| FY2015 Q4 | - | $180.23 | $12.29 | 14.7x | +16% |
| FY2015 Q3 | Sep 30 2015 | $173.76 | $15.69 | 11.1x | -12% |
| FY2015 Q2 | - | $208.79 | $17.57 | 11.9x | -6% |
| FY2015 Q1 | - | $187.97 | $19.87 | 9.5x | -25% |
| FY2014 Q4 | Dec 31 2014 | $193.83 | $17.93 | 10.8x | -14% |
| FY2014 Q3 | - | $183.57 | $18.03 | 10.2x | -19% |
| FY2014 Q2 | Jun 30 2014 | $167.44 | $16.31 | 10.3x | -19% |
| FY2014 Q1 | Mar 31 2014 | $163.85 | $15.87 | 10.3x | -18% |
| FY2013 Q4 | - | $177.26 | $16.10 | 11.0x | -13% |
| FY2013 Q3 | Sep 30 2013 | $158.21 | $17.05 | 9.3x | -26% |
| FY2013 Q2 | Jun 30 2013 | $151.25 | $16.95 | 8.9x | -29% |
| FY2013 Q1 | Mar 31 2013 | $147.15 | $14.96 | 9.8x | -22% |
| FY2012 Q4 | Dec 31 2012 | $127.56 | $14.52 | 8.8x | -30% |
| FY2012 Q3 | Sep 30 2012 | $113.68 | $10.70 | 10.6x | -16% |
| FY2012 Q2 | Jun 30 2012 | $95.86 | $6.98 | 13.7x | +9% |
| FY2012 Q1 | Mar 31 2012 | $124.37 | $7.04 | 17.7x | +40% |
| FY2011 Q4 | Dec 31 2011 | $90.43 | $7.74 | 11.7x | -7% |
| FY2011 Q3 | Sep 30 2011 | $94.55 | $9.90 | 9.6x | -24% |
| FY2011 Q2 | - | $133.09 | $13.92 | 9.6x | -24% |
| FY2011 Q1 | - | $158.60 | $13.07 | 12.1x | -4% |
| FY2010 Q4 | Dec 31 2010 | $168.16 | $14.24 | 11.8x | -6% |
| FY2010 Q3 | - | $144.58 | $18.65 | 7.8x | -39% |
| FY2010 Q2 | Jun 30 2010 | $131.27 | $20.92 | 6.3x | -50% |
| FY2010 Q1 | Mar 31 2010 | $170.63 | $26.09 | 6.5x | -48% |
| FY2009 Q4 | - | $168.84 | $23.94 | 7.1x | -44% |
| FY2009 Q3 | Sep 25 2009 | $179.50 | $10.86 | 16.5x | +31% |
| FY2009 Q2 | Jun 26 2009 | $146.74 | $7.21 | 20.4x | +61% |
| FY2009 Q1 | Mar 27 2009 | $108.08 | $5.64 | 19.2x | +52% |
| FY2008 Q4 | Nov 28 2008 | $78.99 | $5.26 | 15.0x | +19% |
| FY2008 Q3 | Aug 29 2008 | $163.97 | $17.30 | 9.5x | -25% |
| FY2008 Q2 | May 30 2008 | $176.41 | $21.66 | 8.1x | -35% |
| FY2008 Q1 | Feb 29 2008 | $169.63 | $22.03 | 7.7x | -39% |
| FY2007 Q4 | Nov 30 2007 | $226.64 | $25.47 | 8.9x | -29% |
| FY2007 Q3 | Aug 31 2007 | $176.01 | $24.73 | 7.1x | -44% |
| FY2007 Q2 | May 25 2007 | $225.53 | $21.83 | 10.3x | -18% |
| FY2007 Q1 | Feb 23 2007 | $216.50 | $21.63 | 10.0x | -21% |
| FY2006 Q4 | Nov 24 2006 | $201.60 | $19.99 | 10.1x | -20% |
| FY2006 Q3 | Aug 25 2006 | $150.07 | $16.66 | 9.0x | -29% |
| FY2006 Q2 | May 26 2006 | $152.94 | $16.59 | 9.2x | -27% |
| FY2006 Q1 | Feb 24 2006 | $144.16 | $13.47 | 10.7x | -15% |
| FY2005 Q4 | Nov 25 2005 | $134.12 | $11.28 | 11.9x | -6% |
| FY2005 Q3 | Aug 26 2005 | $109.75 | $10.28 | 10.7x | -15% |
| FY2005 Q2 | May 27 2005 | $95.50 | $8.75 | 10.9x | -14% |
| FY2005 Q1 | Feb 25 2005 | $110.10 | $9.35 | 11.8x | -7% |
| FY2004 Q4 | Nov 26 2004 | $104.84 | $8.91 | 11.8x | -7% |
| FY2004 Q3 | Aug 27 2004 | $90.48 | $8.44 | 10.7x | -15% |
| FY2004 Q2 | May 28 2004 | $93.91 | $8.02 | 11.7x | -7% |
| FY2004 Q1 | Feb 27 2004 | $105.87 | $7.07 | 15.0x | +19% |
| FY2003 Q4 | Nov 28 2003 | $96.08 | $5.86 | 16.4x | +30% |
| FY2003 Q3 | Aug 29 2003 | $88.49 | $4.95 | 17.9x | +42% |
| FY2003 Q2 | May 30 2003 | $81.50 | $4.63 | 17.6x | +39% |
| FY2003 Q1 | Feb 28 2003 | $69.45 | $4.33 | 16.0x | +27% |
| FY2002 Q4 | Nov 29 2002 | $78.87 | $4.02 | 19.6x | +55% |
| FY2002 Q3 | Aug 30 2002 | $77.30 | $3.97 | 19.5x | +54% |
| FY2002 Q2 | May 31 2002 | $75.45 | $3.84 | 19.6x | +56% |
| FY2002 Q1 | Feb 22 2002 | $79.00 | $3.84 | 20.6x | +63% |
| FY2001 Q4 | Nov 30 2001 | $89.00 | $4.26 | 20.9x | +66% |
| FY2001 Q3 | Aug 31 2001 | $80.10 | $4.49 | 17.8x | +41% |
| FY2001 Q2 | May 25 2001 | $97.96 | $5.24 | 18.7x | +48% |
| FY2001 Q1 | Feb 23 2001 | $96.04 | $5.66 | 17.0x | +34% |
| FY2000 Q4 | - | $82.13 | $6.02 | 13.6x | +8% |
| FY2000 Q3 | Aug 25 2000 | $119.38 | $6.34 | 18.8x | +49% |
| FY2000 Q2 | May 26 2000 | $69.81 | $6.04 | 11.6x | -8% |
| FY2000 Q1 | Feb 25 2000 | $89.25 | $5.27 | 16.9x | +34% |
Average P/E for displayed period: 12.6x
Should I Buy GS?
Wall Street verdict, signals, and target summaries.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
26+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
GS — Frequently Asked Questions
Quick answers to the most common questions about buying GS stock.
What is GS's P/E ratio?
The Goldman Sachs Group, Inc. (GS) trailing twelve-month P/E ratio is 20.3x, based on TTM diluted EPS of $58.66. The 5-year average P/E is 12.3x and the historical range spans 6.1x to 17.1x.
Is GS stock overvalued or undervalued?
GS trades at 20.3x P/E, above its 5-year average of 12.3x. The 100th percentile ranking within the 6.1x–17.1x historical range indicates a premium to historical valuation.
Is GS stock expensive?
Yes, GS is expensive relative to its own history. The current P/E of 20.3x is above the 5-year average of 12.3x and also above the Financial Services sector median of 14.3x. The stock sits at the 100th percentile of its 5-year valuation range.
What is GS's historical P/E range?
Over the past 5 years, GS's P/E ratio has ranged from 6.1x to 17.1x, with a median of 14.1x and an average of 12.3x. The current P/E of 20.3x places the stock at the 100th percentile of this range. Full historical data spans 2000–2026.
How does GS's P/E compare to the S&P 500?
GS trades at 20.3x P/E versus the S&P 500 median of 25.9x. The 22% discount to the market suggests lower growth expectations or perceived higher risk.
How does GS's valuation compare to Financial Services peers?
The Goldman Sachs Group, Inc. P/E of 20.3x compares to the Financial Services sector median of 14.3x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is GS's PEG ratio?
GS PEG ratio is 1.29, based on a P/E of 20.3x and EPS growth of 26.6%. A PEG between 1 and 2 suggests valuation aligns with growth expectations — typically considered fair.
What is GS's earnings yield?
GS earnings yield is 4.92%, the inverse of its 20.3x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.