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Goldman Sachs Group

GS on NYSE. Security brokers, dealers & flotation companies. Market value $260.2bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing stood out in the numbers we check.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Return on equity
five annual reports to December 2025
12.0%five-year median

Yearly profit per dollar of owners' money: 12 cents. Above 10 is good.

Price to book
quarterly report to June 2026
2.1×

What you pay for each dollar of net assets: $2.13.

Earnings yield
past 12 months to June 2026
8.0%

Profit per $100 you pay: $8.03.

Quality score: 85 of 100. Price score: 71 of 100. Our list needs 70 on quality and 60 on price.

$897.18 a share, 21% above its 1-year low

Over the past year the price has ranged from $740.01 to $1,153.99.

Expected to report results Tuesday 13 Oct, before the market opens.

Dividend: 2.0% a year

Paid every year for at least 5 years

Payouts have jumped around in recent years, so this may not repeat.

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
n/a
n/a
20212022202320242025
Revenue
$59.3bn$47.4bn$46.3bn$53.5bn$58.3bn
Operating margin
n/an/an/an/an/a
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.34bn0.33bn0.31bn0.30bn0.29bn

Health checks

  • Free cash flow positiveDoesn't apply to banks and insurers
  • Accounting checksDoesn't apply to banks and insurers
  • DebtDoesn't apply to banks and insurers
  • Revenue growth, five yearsSlow, 5.5% a year
  • Buying back its own sharesYes, 14% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $20.3 billion last quarter, up 39% on a year ago.
  • Profit: $6.6 billion, up 78% on a year ago.
  • Over the past 12 months it spent $41.5 billion more cash than it brought in, compared with $24.9 billion a year earlier.
  • 4% fewer shares than a year ago. Each share owns a bit more of the company.
  • Sales grew on a year ago in 3 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$12.7bn
December 2024$13.9bn
March 2025$15.1bn
June 2025$14.6bn
September 2025$15.2bn
December 2025$13.5bn
March 2026$17.2bn
June 2026$20.3bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$3.0bn
December 2024$4.1bn
March 2025$4.7bn
June 2025$3.7bn
September 2025$4.1bn
December 2025$4.6bn
March 2026$5.6bn
June 2026$6.6bn

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
13 October 2026
Last annual report (10-K)
25 February 2026
Next quarterly (estimated, 10-Q)
2 November 2026

Who owns it

15 long-term investors we follow own it, down from 16 last quarter. 3,165 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

1 investor owns more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 9 sold $149m.

  • LESLIE ERICKA T
    Chief Administrative Officer
    Sold
    Date
    28 August 2026
    Shares
    600
    Price
    $1033.80
    Value
    $620,280
  • LESLIE ERICKA T
    Chief Administrative Officer
    Sold
    Date
    4 August 2026
    Shares
    175
    Price
    $1053.97
    Value
    $184,445
  • LESLIE ERICKA T
    Chief Administrative Officer
    Sold
    Date
    15 July 2026
    Shares
    250
    Price
    $1151.80
    Value
    $287,951
  • COLEMAN DENIS P.
    Chief Financial Officer
    Sold
    Date
    14 May 2026
    Shares
    6,857
    Price
    $973.55
    Value
    $7m
  • Ruemmler Kathryn H.
    Chief Legal Officer, GC
    Sold
    Date
    6 May 2026
    Shares
    14,292
    Price
    $939.07
    Value
    $13m
  • Ruemmler Kathryn H.
    Chief Legal Officer, GC
    Sold
    Date
    1 May 2026
    Shares
    683
    Price
    $929.62
    Value
    $634,927
  • FREDMAN SHEARA J
    Chief Accounting Officer
    Sold
    Date
    1 May 2026
    Shares
    10,301
    Price
    $929.17
    Value
    $10m
  • SOLOMON DAVID M
    Chairman of the Board and CEO, Director
    Sold
    Date
    1 May 2026
    Shares
    3,470
    Price
    $930.70
    Value
    $3m
  • GOLTEN ALEX S
    CHIEF RISK OFFICER
    Sold
    Date
    23 April 2026
    Shares
    1,116
    Price
    $936.18
    Value
    $1m
  • GOLTEN ALEX S
    CHIEF RISK OFFICER
    Sold
    Date
    17 April 2026
    Shares
    1,115
    Price
    $919.19
    Value
    $1m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

We couldn’t fully check Goldman Sachs Group’s latest annual report.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We couldn't fully read the 10-K filed 25 Feb 2026, so we can't say there are no warning signs.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.