Goldman Sachs
Advises, underwrites, trades and manages assets for institutions and wealthy clients.
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Profile
Advises and underwrites for corporations and governments, intermediates global fixed-income and equity markets, and manages assets and private wealth. Revenue is concentrated in institutional franchises, while residual consumer-card exposure is being wound down.
Advises on mergers and acquisitions, underwrites debt and equity, intermediates fixed-income, currency, commodity and equity markets, and provides financing through Global Banking & Markets.
Manages public and private-market strategies and serves wealthy clients through Asset & Wealth Management, earning asset-based fees, private-banking interest and investment returns. Operates across major financial centers, with the Americas providing most revenue and Europe, the Middle East, Africa and Asia the balance.
Uses advisory relationships to generate underwriting, financing, hedging and asset-management work across its institutional franchises. Platform Solutions comprises residual credit-card activities, including Apple Card accounts held for sale during the planned transfer to Chase, plus transaction banking. Results depend on capital-markets activity, client flows and asset values; bank and broker-dealer subsidiaries face extensive capital, liquidity and regulatory requirements.
Company facts
Categories
Key statistics
Year to date +13.0% · Average volume (30d) 1.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 3, 2026 | UBS | Reiterate | Neutral | $1,120 | $1,150 | |
| Jul 21, 2026 | Goldman Sachs | Upgrade | Neutral | Hold | ||
| Jul 21, 2026 | HSBC | Upgrade | Reduce | Hold | ||
| Jul 20, 2026 | HSBC | Upgrade | Buy | Hold | $604 | $995 |
| Jul 16, 2026 | Goldman Sachs | Target | $1,200 | $1,300 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 14, 2026Q2 FY26 | $14.47 | $20.98 | +45.0% | $16.22B | $20.34B | +25.3% | +1.06% |
| Apr 13, 2026Q1 FY26 | $16.47 | $17.55 | +6.6% | $16.99B | $17.23B | +1.4% | +2.11% |
| Jan 15, 2026Q4 FY25 | $11.70 | $14.01 | +19.7% | $14.52B | $13.45B | −7.3% | −1.42% |
| Oct 14, 2025Q3 FY25 | $11.03 | $12.25 | +11.1% | $14.12B | $15.18B | +7.5% | −0.37% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $31.55B | $31.27B | $32.15B | $30.13B | $17.23B | $38.43B | |
| Gross profit | $14.78B | $14.20B | $14.85B | $15.58B | $16.91B | $20.24B | |
| Operating income | $5.65B | $4.96B | $5.39B | $5.86B | $6.49B | $11.52B | |
| Net income | $4.74B | $3.72B | $4.10B | $4.62B | $5.63B | $6.63B | |
| Diluted EPS | $14.12 | $10.95 | $12.25 | $14.00 | $17.55 | $20.98 | |
| Gross margin | 46.8% | 45.4% | 46.2% | 51.7% | 98.2% | 52.7% | |
| Operating margin | 17.9% | 15.9% | 16.8% | 19.4% | 37.7% | 30.0% |
Fiscal years (4-quarter sums)FY21 $64.99B · FY22 $68.71B · FY23 $108.42B · FY24 $127.34B · FY25 $125.10B
Revenue by product · Q4 FY25
Revenue by geography · Q4 FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $746.29B · Total debt $741.87B · Total assets $2.13T · Shareholders' equity $122.74B
Dividends
Raised for 25 straight years — most recently to $4.50 from $4.00 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 1, 2026 | Jun 1 | Jun 29 | $4.50 | |
| Mar 2, 2026 | Mar 2 | Mar 30 | $4.50 | raised from $4.00 |
| Dec 2, 2025 | Dec 2 | Dec 30 | $4.00 | |
| Aug 29, 2025 | Aug 29 | Sep 29 | $4.00 | raised from $3.00 |
| May 30, 2025 | May 30 | Jun 27 | $3.00 | |
| Feb 28, 2025 | Feb 28 | Mar 28 | $3.00 | |
| Dec 2, 2024 | Dec 2 | Dec 30 | $3.00 | |
| Aug 30, 2024 | Aug 30 | Sep 27 | $3.00 | raised from $2.75 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 295.01M · Float —
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 23.90M | 8.10% | 13F | Aug 7, 2026 |
| State Street Corp | 18.83M | 6.38% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 18.43M | 6.25% | 13F | Aug 13, 2026 |
| JPMorgan Chase & Co | 8.04M | 2.73% | 13F | Aug 12, 2026 |
| Vanguard Portfolio Management LLC | 7.22M | 2.45% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 4, 2026 | Ericka T. Leslie | officer: Chief Administrative Officer | −175 | $1,053.97 |
| Jul 15, 2026 | Ericka T. Leslie | officer: Chief Administrative Officer | −250 | $1,151.80 |
| May 14, 2026 | Denis P. Coleman | officer: Chief Financial Officer | −6,857 | $973.55 |
| May 6, 2026 | Kathryn H. Ruemmler | officer: Chief Legal Officer, GC | −14,292 | $939.07 |
| May 1, 2026 | Kathryn H. Ruemmler | officer: Chief Legal Officer, GC | −683 | $929.61 |
Peers
- Morgan Stanley
Nearest full-service peer — head-to-head in IBD, markets, and wealth management.
- JPMorgan Chase
Dominant CIB franchise — #1 total IB fees across M&A, DCM, and ECM.
- Bank of America
#3 global investment bank — competes in markets, IB fees, and wealth management.
- Citi
Global institutional bank competing in FICC, equities, and IB advisory.
- BlackRock
World's largest asset manager — competes for institutional mandates vs. AWM.
- Evercore
Top independent M&A boutique — conflict-free rival in large-cap deal advisory.
- Lazard
Independent advisory firm — competing in M&A advisory and asset management.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Goldman Sachs | $1,033.62 | +0.05% | $305.03B | 16.0 | 14.8 | 2.6 | +39.5% |
| Morgan Stanley | $214.50 | −0.13% | $338.75B | 17.5 | 16.3 | 2.7 | +36.8% |
| JPMorgan Chase | $357.66 | +0.05% | $958.25B | 15.4 | 14.8 | 3.2 | +27.8% |
| Bank of America | $62.30 | −0.04% | $442.26B | 14.4 | 12.7 | 2.3 | +19.3% |
| Citi | $132.62 | −0.19% | $227.81B | 14.3 | 11.4 | 1.3 | +14.3% |
| BlackRock | $1,163.84 | −0.03% | $180.49B | 27.8 | 19.5 | 6.6 | +30.6% |
| Evercore | $293.00 | +1.00% | $11.22B | 16.4 | 15.1 | 2.4 | +19.2% |
| Lazard | $43.64 | −0.07% | $4.25B | 21.0 | 13.7 | 1.3 | −2.7% |
| Median | 16.4 | 14.8 | 2.4 | +19.3% |