Goldman Sachs (GS): analysis in plain words
Is Goldman Sachs cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Goldman Sachs (GS) is listed on the NYSE and we classify it in banking. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Goldman Sachs according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Goldman Sachs (GS) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $928.00 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 13.3x | Price over earnings per share |
| Revenue growth | +23.3% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 31.2% | Profit for every 100 of sales |
| Net debt / EBITDA | Not meaningful (financial company) | Years of operating profit to repay debt |
| Dividend yield | 2.23% | Annual dividend over price |
| Market cap | $267.7 billion | What the stock market values it at |
The Goldman Sachs figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any GS figure that is not available shows as N/A: we do not estimate it.
How Goldman Sachs makes money
Goldman Sachs is an investment bank. Global Banking & Markets, its largest segment, earns fees for advising on mergers, underwriting stock and bond offerings, and trading fixed income, currencies, commodities and equities for institutions. Asset & Wealth Management runs funds and private wealth, and Platform Solutions holds its card and platform businesses.
Over the last 12 months, Goldman Sachs brought in revenue of $71.0 billion. For every 100 it sells, Goldman Sachs keeps 81.3 after the direct cost of what it sells (gross margin) and 38.4 after all operating costs (operating margin).
Goldman Sachs against its sector
To know whether a Goldman Sachs figure is high or low you have to put it next to similar companies. This table compares Goldman Sachs with the median of the 20 banking companies Fintols covers, with data as of November 4, 2026.
| Figure | Goldman Sachs | banking median |
|---|---|---|
| P/E | 13.3x | 12.2x (20) |
| Revenue growth | +23.3% | +7.3% (20) |
| Net margin | 31.2% | 32.6% (20) |
| Dividend yield | 2.23% | 3.55% (20) |
| ROE | 17.7% | 13.1% (19) |
In short, against the typical banking company, Goldman Sachs grows faster, pays a lower dividend yield and earns more on its equity. By size, Goldman Sachs ranks number 4 of 8 banking companies quoted in USD on Fintols.
The bull case for Goldman Sachs
What works in favour of Goldman Sachs, according to its figures as of November 4, 2026:
- Goldman Sachs grew sales +23.3% in its latest quarter against the same quarter a year earlier, while the median banking company Fintols tracks grew +7.3%.
- Goldman Sachs keeps 31.2 of every 100 it sells as net profit, against 32.6 for the median banking company: a margin like that leaves money to invest, buy back shares or pay dividends.
The main risk for Goldman Sachs
The Goldman Sachs figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: falling interest rates (which squeeze what it earns on loans) or rising bad loans if the economy weakens.
Frequently asked questions about Goldman Sachs
Is it a good time to buy Goldman Sachs stock?
Fintols does not tell you whether to buy or sell Goldman Sachs, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Goldman Sachs stock trades at $928.00, 20% below its 52-week high ($1,153.99) and 23% above its low ($754.00). Its P/E is 13.3x against a banking median of 12.2x, and 12.5x on the earnings analysts expect over the next 12 months. With Goldman Sachs, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Goldman Sachs pay a dividend?
Yes. As of November 4, 2026, Goldman Sachs pays $20.00 per share a year, which at today's price is a yield of 2.23%. It uses 26% of its profit to pay it, which leaves room to keep paying it if profit dips.
Is Goldman Sachs stock expensive?
It depends on what you compare it with. On P/E, Goldman Sachs trades at 13.3x its last 12 months of earnings: in line with the banking median (12.2x). For a financial company you also look at price to book value: 2.5x (banking median: 1.7x). A high P/E alone does not make Goldman Sachs expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Goldman Sachs's competitors?
On Fintols we compare Goldman Sachs with Bank of America, Citigroup and JPMorgan, which are also in banking. As of November 4, 2026, Bank of America is worth $356.3 billion and trades on a P/E of 12.3; Citigroup is worth $206.5 billion and trades on a P/E of 12.2; JPMorgan is worth $935.1 billion and trades on a P/E of 14.8. Each has a side-by-side comparison with Goldman Sachs below.
Goldman Sachs competitors
- Bank of America (BAC) analysis · Goldman Sachs vs Bank of America comparison
- Citigroup (C) analysis · Goldman Sachs vs Citigroup comparison
- JPMorgan (JPM) analysis · Goldman Sachs vs JPMorgan comparison
To understand Goldman Sachs better
- How to Read a Balance Sheet: A Beginner's Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Goldman Sachs: banking stocks, S&P 500 companies and S&P 100 companies. Open the full GS analysis with its valuation and scenarios. Educational content about Goldman Sachs, not investment advice.