Goldman Sachs Group Inc Stock Research

Market Summary

USD315.09+2.90

Market Closed

0.93%

GS Alerts

Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)

GS Stock Price

GS RSI Chart

GS Valuation

Market Cap

105.5B

Price/Earnings (Trailing)

9.37

Price/Sales (Trailing)

2.66

EV/EBITDA

-2.67

Price/Free Cashflow

21.28

GS Price/Sales (Trailing)

GS Profitability

EBT Margin

33.98%

Return on Equity

9.61%

Return on Assets

0.78%

Free Cashflow Yield

4.7%

GS Fundamentals

GS Revenue

Revenue (TTM)

39.7B

Revenue Y/Y

-21.44%

Revenue Q/Q

-14.23%

GS Earnings

Earnings (TTM)

11.3B

Earnings Y/Y

-66.3%

Earnings Q/Q

-56.79%

Price Action

52 Week Range

273.96387.04

(Low)(High)

Last 7 days

-10.6%

Last 30 days

-16.5%

Last 90 days

-10.8%

Trailing 12 Months

-3.2%

GS Financial Health

Debt/Equity

0.62

Debt/Cashflow

0.12

GS Investor Care

Dividend Yield

2.09%

Dividend/Share (TTM)

6.5

Shares Dilution (1Y)

0.40%

Diluted EPS (TTM)

30.06

Peers (Alternatives to Goldman Sachs Group)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
SCHW	109.2B	20.8B	-25.95%	-27.75%	15.21	5.26	12.11%	22.68%
GS	105.5B	39.7B	-16.53%	-3.22%	9.37	2.66	-24.93%	-47.95%
BLK	95.4B	17.9B	-14.27%	-10.09%	18.42	5.34	-7.75%	-12.25%
RJF	19.2B	11.5B	-23.15%	-11.77%	12.23	1.67	10.02%	2.28%
MKTX	14.6B	718.3M	7.35%	10.21%	58.43	20.35	2.77%	-2.97%
MID-CAP
IBKR	7.9B	2.7B	-12.10%	23.15%	4.31	2.95	95.77%	12.59%
SEIC	7.5B	2.0B	-12.37%	-3.86%	15.68	3.75	3.79%	-13.01%
SF	6.2B	4.6B	-17.08%	-14.81%	9.36	1.35	-3.98%	-19.72%
SNEX	1.9B	64.7B	-11.71%	27.62%	8	0.03	35.87%	74.73%
SMALL-CAP
PIPR	1.9B	1.4B	-16.05%	8.57%	17.38	1.34	-29.71%	-60.26%
VIRT	1.8B	2.4B	-12.59%	-48.39%	6.93	0.78	-15.89%	-44.42%
COWN	1.1B	1.5B	0.39%	32.10%	14.3	0.71	-27.22%	-74.14%
AC	816.3M	10.3M	-0.68%	-10.61%	-15.36	79.32	-29.47%	-152.67%
OPY	445.7M	1.1B	-15.80%	-8.69%	13.78	0.4	-20.31%	-79.65%
GHL	167.9M	258.5M	-24.81%	-44.51%	51.29	0.65	-18.61%	-92.26%

Financials for Goldman Sachs Group

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-5.5%	39,687	42,012	44,124	47,753	52,869
EBITDA	-11.2%	23,619	26,596	29,046	32,187	-
EBITDA Margin	-6.0%	0.60*	0.63*	0.66*	0.67*	-
Earnings Before Taxes	-20.6%	13,486	16,981	20,067	23,363	27,044
EBT Margin	-15.9%	0.34*	0.40*	0.45*	0.49*	-
Interest Expenses	3.8%	7,678	7,399	6,920	6,815	6,470
Net Income	-18.8%	11,261	13,870	16,179	18,738	21,635
Net Income Margin	-14.1%	0.28*	0.33*	0.37*	0.39*	-
Free Cahsflow	-90.1%	4,960	49,866	-2,847	-21,156	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-7.3%	1,441,799	1,555,994	1,601,224	1,589,441	1,463,988
Cash Equivalents	-14.9%	241,825	284,251	288,606	274,164	261,036
Goodwill	17.5%	6,196	5,272	4,285	-	-
Liabilities	-7.8%	1,324,610	1,436,704	1,483,353	1,474,202	1,354,062
Long Term Debt	11.9%	73,147	65,358	62,238	58,348	52,390
Shareholder's Equity	-1.8%	117,189	119,290	117,871	115,239	109,926
Retained Earnings	0.2%	139,372	139,067	136,998	134,931	131,811
Additional Paid-In Capital	0.0%	59,050	59,031	58,993	58,938	56,396
Accumulated Depreciation	3.1%	11,550	11,200	10,810	-	-
Shares Outstanding	-1.2%	335	339	342	343	334

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-83.9%	8,708	53,979	6,536	-11,471	6,298
Share Based Compensation	1.6%	4,083	4,018	3,898	3,717	2,348
Cashflow From Investing	9.1%	-75,960	-83,606	-74,266	-44,999	-30,465
Cashflow From Financing	-44.5%	59,602	107,425	121,424	144,856	134,738
Dividend Payments	5.5%	3,682	3,491	3,286	2,989	2,725
Buy Backs	40.0%	3,500	2,500	2,500	3,000	5,200

Risks for GS

What is the probability of a big loss on GS?

61.1%

Probability that Goldman Sachs Group stock will be more than 20% underwater in next one year

45%

Probability that Goldman Sachs Group stock will be more than 30% underwater in next one year.

22.3%

Probability that Goldman Sachs Group stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does GS drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Goldman Sachs Group was unfortunately bought at previous high price.

Drawdowns

Returns for GS

Cumulative Returns on GS

9.0%

10-Year Cumulative Returns

13.0%

7-Year Cumulative Returns

5.2%

5-Year Cumulative Returns

23.3%

3-Year Cumulative Returns

What are the long-term rolling returns for GS?

FIve years rolling returns for Goldman Sachs Group.

Annualized Returns

Which funds bought or sold GS recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-1.58	635,815	4,783,820	0.13%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	2.46	14,790,100	88,513,100	0.10%
2023-03-10	MATHER GROUP, LLC.	added	6.82	56,713	279,713	-%
2023-03-08	Capital Asset Advisory Services LLC	added	45.76	351,281	845,281	0.07%
2023-03-06	NORTH STAR ASSET MANAGEMENT INC	unchanged	-	153,158	1,042,160	0.06%
2023-03-06	Rockefeller Capital Management L.P.	added	23.68	19,017,000	61,343,000	0.31%
2023-03-06	OLD MISSION CAPITAL LLC	added	4,437	32,901,400	33,532,400	0.95%
2023-03-03	TIAA, FSB	reduced	-5.02	200,092	1,974,090	0.01%
2023-03-03	Crumly & Associates Inc.	reduced	-9.28	27,801	466,801	0.18%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	added	23.31	17,200	56,200	0.03%

Latest Funds Activity

Are funds buying GS calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own GS

No. of Funds

Goldman Sachs Group News

Schedule 13G FIlings of Goldman Sachs Group

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	8.72%	29,524,710	SC 13G/A
Feb 07, 2023	blackrock inc.	6.9%	23,301,183	SC 13G/A
Feb 06, 2023	state street corp	6.13%	20,766,479	SC 13G/A
Feb 14, 2022	state street corp	6.43%	21,531,387	SC 13G/A
Feb 09, 2022	vanguard group inc	7.81%	26,131,505	SC 13G/A
Feb 01, 2022	blackrock inc.	7.1%	23,795,471	SC 13G/A
Feb 12, 2021	state street corp	5.77%	19,857,799	SC 13G
Feb 10, 2021	vanguard group inc	7.45%	25,649,314	SC 13G/A
Jan 29, 2021	blackrock inc.	6.1%	21,081,144	SC 13G/A
Feb 14, 2020	berkshire hathaway inc	3.6%	12,435,814	SC 13G/A

GS Fair Value

Goldman Sachs Group fair value in different scenarios

The table shows the Fair Value estimates for Goldman Sachs Group for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	123.20 -60.90%	223.63 -29.03%	682.50 116.60%	2442.02 675.02%	3092.07 881.33%
Current Inflation	106.44 -66.22%	194.84 -38.16%	589.67 87.14%	2090.04 563.32%	2634.04 735.96%
Very High Inflation	85.24 -72.95%	159.28 -49.45%	479.78 52.27%	1682.84 434.08%	2107.82 568.96%

Historical Goldman Sachs Group Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Goldman Sachs Group

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	424B2	Prospectus Filed
Mar 16, 2023	424B2	Prospectus Filed
Mar 16, 2023	FWP	Prospectus Filed
Mar 16, 2023	424B2	Prospectus Filed
Mar 16, 2023	424B2	Prospectus Filed
Mar 16, 2023	424B2	Prospectus Filed
Mar 16, 2023	424B2	Prospectus Filed
Mar 16, 2023	FWP	Prospectus Filed
Mar 16, 2023	424B2	Prospectus Filed
Mar 16, 2023	4	Insider Trading

Latest Insider Trading transactions for GS

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-24	COLEMAN DENIS P.	sold (taxes)	-2,875,520	349	-8,236	chief financial officer
2023-01-24	BERLINSKI PHILIP R.	sold (taxes)	-3,378,630	349	-9,677	global treasurer
2023-01-24	LESLIE ERICKA T	sold (taxes)	-1,438,460	349	-4,120	chief administrative officer
2023-01-24	LEE BRIAN J	acquired	-	-	8,571	chief risk officer
2023-01-24	LEE BRIAN J	sold (taxes)	-1,457,660	349	-4,175	chief risk officer
2023-01-24	FREDMAN SHEARA J	sold (taxes)	-1,106,770	349	-3,170	chief accounting officer
2023-01-24	FREDMAN SHEARA J	acquired	-	-	5,985	chief accounting officer
2023-01-24	COLEMAN DENIS P.	acquired	-	-	17,605	chief financial officer
2023-01-24	BERLINSKI PHILIP R.	acquired	-	-	21,048	global treasurer
2023-01-24	LESLIE ERICKA T	acquired	-	-	7,777	chief administrative officer

About Goldman Sachs Group

GS Income Statement

2022-12-31

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Investment banking	$ 7,360	$ 14,136	$ 9,100
Investment management	9,005	8,171	6,986
Commissions and fees	4,034	3,590	3,539
Market making	18,634	15,357	15,428
Other principal transactions	654	11,615	4,756
Total non-interest revenues	39,687	52,869	39,809
Interest income	29,024	12,120	13,689
Interest expense	21,346	5,650	8,938
Net interest income	7,678	6,470	4,751
Total net revenues	47,365	59,339	44,560
Provision for credit losses	2,715	357	3,098
Operating expenses
Compensation and benefits	15,148	17,719	13,309
Transaction based	5,312	4,710	4,141
Market development	812	553	401
Communications and technology	1,808	1,573	1,347
Depreciation and amortization	2,455	2,015	1,902
Occupancy	1,026	981	960
Professional fees	1,887	1,648	1,306
Other expenses	2,716	2,739	5,617
Total operating expenses	31,164	31,938	28,983
Pre-tax earnings	13,486	27,044	12,479
Provision for taxes	2,225	5,409	3,020
Net earnings	11,261	21,635	9,459
Preferred stock dividends	497	484	544
Net earnings applicable to common shareholders	$ 10,764	$ 21,151	$ 8,915
Earnings per common share
Basic (in dollars per share)	$ 30.42	$ 60.25	$ 24.94
Diluted (in dollars per share)	$ 30.06	$ 59.45	$ 24.74
Average common shares
Basic (in shares)	352.1	350.5	356.4
Diluted (in shares)	358.1	355.8	360.3

GS Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 241,825	$ 261,036
Collateralized agreements:
Securities purchased under agreements to resell (at fair value)	225,117	205,703
Securities borrowed (includes $38,578 and $39,955 at fair value)	189,041	178,771
Customer and other receivables (includes $25 and $42 at fair value)	135,448	160,673
Trading assets (at fair value and includes $40,143 and $68,208 pledged as collateral)	301,245	375,916
Investments (includes $78,201 and $83,427 at fair value, and $9,818 and $12,840 pledged as collateral)	130,629	88,719
Loans (net of allowance of $5,543 and $3,573, and includes $7,655 and $10,769 at fair value)	179,286	158,562
Other assets (includes $145 and $0 at fair value)	39,208	34,608
Total assets	1,441,799	1,463,988
Liabilities and shareholders’ equity
Deposits (includes $15,746 and $35,425 at fair value)	386,665	364,227
Collateralized financings:
Securities sold under agreements to repurchase (at fair value)	110,349	165,883
Securities loaned (includes $4,372 and $9,170 at fair value)	30,727	46,505
Other secured financings (includes $12,756 and $17,074 at fair value)	13,946	18,544
Customer and other payables	262,045	251,931
Trading liabilities (at fair value)	191,324	181,424
Unsecured short-term borrowings (includes $39,731 and $29,832 at fair value)	60,961	46,955
Unsecured long-term borrowings (includes $73,147 and $52,390 at fair value)	247,138	254,092
Other liabilities (includes $159 and $359 at fair value)	21,455	24,501
Total liabilities	1,324,610	1,354,062
Commitments, contingencies and guarantees
Shareholders’ equity
Preferred stock; aggregate liquidation preference of $10,703 and $10,703	10,703	10,703
Common stock; 917,815,030 and 906,430,314 shares issued, and 334,918,639 and 333,573,254 shares outstanding	9	9
Share-based awards	5,696	4,211
Nonvoting common stock; no shares issued and outstanding	0	0
Additional paid-in capital	59,050	56,396
Retained earnings	139,372	131,811
Accumulated other comprehensive loss	(3,010)	(2,068)
Stock held in treasury, at cost; 582,896,393 and 572,857,062 shares	(94,631)	(91,136)
Total shareholders’ equity	117,189	109,926
Total liabilities and shareholders’ equity	$ 1,441,799	$ 1,463,988