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The Goldman Sachs Group, Inc.
NYSE: GS Financials Cap Markets 🔎 Screen
Dow 30 S&P 500
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$325.3B
Market Cap
17.1
P/E
1.11
PEG
3.1%
ROCE
13.9%
ROE
4.86
D/E
37.5%
OPM
-10.1%
% from 52W High
72
α RS
🔍 GS is showing a high-conviction setup because it matches 4 of 37 tracked screener presets, RS Rating is 72, and it's within 10.1% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating 52W High
Sources
Conviction 4/37 · RS Rating 72 · 10.1% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for GS including FX impact
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📈 Price History
Ratio Health
Excellent
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About

The Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals in the Americas, Europe, the Middle East, Africa, and Asia.

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⭐ Superinvestors Holding GS
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 10.1K $8.5M 0.01% Mar 2026
Steve Cohen Point72 Asset Management 3.8K $3.2M 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$20.3B
+39% YoY
Net Income
$6.63B
not disclosed
EPS
$20.98
+92% YoY
Investment Banking Fees
$3.4B
+55% YoY
What Went Right
  • Record Q2 net revenues of $20.3B with EPS of $20.98, ROE of 23.5% and ROTE of 25.5%.
  • Investment banking fees rose 55% YoY to $3.4B; backlog reached its highest level in five years as H1 announced M&A hit $1.2T with a $425B lead over the nearest peer.
  • Equities net revenues were a record $7.4B (+72% YoY) and AWM management and other fees hit a record $3.4B (+20% YoY); alternative fundraising was a record $59B in Q2.
What to Watch
  • Management cautioned that AI-driven activity will not be a straight line and could see recalibrations or disruptions.
  • Sponsor/PE volumes remain below historical averages, so a meaningful recovery is still potential upside rather than current momentum.
  • SLR fell 40bps to 4.3% amid balance-sheet-intensive financing growth, which could constrain the pace of low-RWA lending and prime growth.
  • Platform Solutions revenues declined 64% YoY to $221M, reflecting Apple Card loan portfolio markdowns and the held-for-sale transfer.
Management Guidance
  • No explicit Q3 revenue guidance provided.
  • No explicit operating income or margin guidance provided.
  • Full-year alternative fundraising now expected to exceed $125B; full-year effective tax rate expected to be approximately 20%; Platform Solutions revenues for the remainder of the year expected to be broadly consistent with Q2; incentive fees expected to increase materially in H2 2026.
Investor Lens
The long-term thesis is stronger after this quarter: record EPS/ROE, a record backlog, and record AWM flows show the One Goldman Sachs flywheel is working. The firm is deploying capital into high-return client franchises such as Asian equities and prime while still holding a 150bps CET1 cushion, supporting durable growth. The main caveats are cyclicality in markets revenues and an AI capex cycle that management itself says will not be a straight line.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Record Q2 with EPS $20.98 and revenue $20.3B.
Revenue
Net revenues hit a record $20.3B, up 39% YoY. Global Banking & Markets was $15.5B (+53%), with equities at $7.4B, FICC at $4.6B and investment banking fees at $3.4B; AWM added $4.6B (+20%).
Profitability
Net earnings were $6.63B, with diluted EPS of $20.98 versus $10.91 in Q2 2025. ROE was 23.5% and ROTE was 25.5%.
Margins
H1 efficiency ratio improved 320bps YoY to 58.8%, helped by a compensation ratio of 31% net of provisions. Non-comp expenses rose to $5.6B, driven by transaction-based costs, particularly in equities.
Balance Sheet
CET1 ratio was 12.9%, 150bps above the 11.4% requirement. Total loans rose 3% sequentially to $261B, net interest income was $4B, and SLR fell to 4.3% on balance-sheet-intensive financing growth.
Key Risks
Management flagged that the AI investment cycle will not move in a straight line and could face recalibrations. Sponsor volumes remain below historical averages, and SLR pressure from financing growth was highlighted as a constraint.
Outlook
The firm remains confident in continued momentum, citing a multi-year AI buildout and a backlog at its highest level in five years. Full-year alternatives fundraising is expected to exceed $125B and the full-year tax rate is expected to be roughly 20%.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-14
Record Q2 results driven by robust M&A, AI-fueled capital formation, and strong performance across all segments. Backlog and assets under supervision reached new highs, with continued momentum expected as AI and strategic activity drive future growth.
Q1 2026 Q1 2026 2026-04-13
First quarter results showed near-record revenues and earnings, with robust performance in Global Banking & Markets and Asset & Wealth Management. Despite market volatility and regulatory changes, strong client engagement, capital deployment, and strategic investments in technology and Asia drove growth.
Q4 2025 Q4 2025 2026-01-15
Q4 and full-year results showed record revenues, strong EPS growth, and improved returns, with robust performance in Global Banking & Markets and Asset & Wealth Management. The firm set higher margin targets, expanded capital return, and remains optimistic for 2026 amid a constructive market and regulatory backdrop.
Q3 2025 Q3 2025 2025-10-14
Q3 2025 saw net revenues of $15.2B, EPS of $12.25, and ROE of 14.2%, with record AWM assets and strong M&A activity. Strategic acquisitions, robust fundraising, and AI-driven efficiency initiatives support a positive outlook amid improving regulatory conditions.
Q2 2025 Q2 2025 2025-07-16
Q2 2025 saw strong revenues, record asset inflows, and robust investment banking activity, with M&A volumes up 30% year-over-year. The board raised the dividend by 33% and authorized a $40 billion buyback, reflecting confidence in durable earnings and capital strength.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
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Information Sources:
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