Goldman Sachs Group, Inc. (The) (GS) Stock Price & How to Invest

Goldman Sachs, founded in 1869 and headquartered in New York, is one of the world's preeminent investment banks and financial services firms. The firm operates through two primary segments: Global Banking and Markets, which encompasses investment banking advisory, equity and debt underwriting, and market-making across equities, fixed income, currencies and commodities; and Asset and Wealth Management, which provides investment management, financial planning, and wealth advisory services to institutions, family offices, and high-net-worth individuals. Revenue is generated through advisory fees, underwriting commissions, trading gains, asset management fees, and net interest income, making the firm's earnings profile heavily tied to the health of global capital markets. Goldman exited its consumer banking and credit card business in 2025, sharpening its focus on institutional and ultra-high-net-worth clients. David Solomon has served as Chairman and Chief Executive Officer since 2018, steering the firm through a consumer retreat and back toward its core investment banking and markets identity. Under his tenure, Goldman has grown revenues by roughly 60% and improved returns by approximately 500 basis points since its first formal Investor Day, while also expanding its alternatives and third-party asset management capabilities. The firm employs about 47,500 people across offices in every major global financial center.

The 2026 numbers show that capital markets engine running hot. Quarterly revenue went from about $17.2 billion in the first quarter to $20.3 billion in the second and $18.7 billion in the third, with net earnings of roughly $5.4 billion, $6.4 billion and $5.1 billion. Every one of the last four quarters beat the EPS consensus, the second quarter by the widest margin ($20.98 against roughly $14.54). Third-quarter revenue was up about 23% year over year and trailing earnings were up nearly 39%. The share price has not followed: GS closed at about $893.31 on October 16, 2026, down from a 52-week high near $1,154 and about 2.3% lower for the year, though still up about 18% over twelve months. Analysts expect 2026 EPS of roughly $71, then only about 3% growth in 2027, which helps explain a forward multiple near 12x.

Goldman's revenues are among the most cyclical in global finance: a sustained market downturn, a sharp contraction in M&A volumes, or a widening of credit spreads could compress earnings meaningfully in a short period. Regulatory risk remains material, as evolving Basel III Endgame and TLAC requirements could impose higher capital buffers that constrain returns and capital deployment. The firm also faces intensifying competition for ultra-high-net-worth client relationships from Morgan Stanley and UBS, and from large alternative asset managers encroaching on its private credit and advisory franchises. Valuation has come down sharply in 2026: the trailing P/E is about 12.8x as of October 16, 2026, close to the firm's own 10-year median of roughly 13x, after the shares fell about 18% over three months. The risk has shifted toward earnings themselves, since analysts expect EPS growth to slow to about 3% in 2027 after a near-39% jump in 2026, and record results can be hard to repeat. The 21 analysts in Yahoo's consensus rate the stock a hold on average, with a mean target near $1,038.

21 analysts publish price targets on GS, averaging $1037.90 against a $881.26 price as of October 2026, or +17.8%. The published targets run from $730.00 to $1250.00, a moderate spread, and the ratings split 8 buy, 16 hold, 2 sell. Over the last six months there have been 3 raises and 8 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full GS forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Goldman Sachs Group, Inc. (The). Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. M&A Supercycle Recovery. Global M&A volumes are recovering after two years of rate-driven suppression, and Goldman has held the number-one ranking in worldwide announced and completed mergers and acquisitions. The most optimistic published target, $1250.00, assumes this works close to its best case.

The case against. Goldman's revenues are among the most cyclical in global finance: a sustained market downturn, a sharp contraction in M&A volumes, or a widening of credit spreads could compress earnings meaningfully in a short period. The most pessimistic target, $730.00, is roughly what GS is worth if this bites instead.

Read the full bull and bear case on GS, including what would have to change to break either one. Walnut is not an investment adviser.

No. Goldman Sachs Group, Inc. (The) (GS) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Goldman Sachs Group, Inc. (The)'s investor relations page or your broker.

• Revenue (TTM): ~$71.0 billion (Q3 2026 ~+23% YoY)
• Net income (TTM): ~$21.3 billion (~31% net margin)
• Q3 2026 EPS vs estimate: ~$17.01 vs ~$13.09
• Diluted EPS (TTM): ~$69.55
• P/E (trailing / forward): ~12.8x / ~12.2x
• Price / book: ~2.4x
• Dividend yield: ~2.2% ($20.00 a year after the June 2026 raise)
• Market cap: ~$260 billion

Goldman's 2026 has been its most profitable stretch on record, with trailing EPS near $69.55 against $51.32 for full-year 2025, and every quarter since late 2025 has beaten consensus. The stock has moved the other way since summer, so at about $893 on October 16, 2026 it trades near 12.8x trailing and 12.2x forward earnings, down from roughly 19.4x in mid-2026 and close to its own 10-year median. Analysts expect EPS of about $71 in 2026 and $74 in 2027, so the multiple now prices a plateau in earnings rather than further acceleration; the dividend yield is about 2.2% with a payout ratio near 26%, alongside a $20 billion buyback authorization.

If you want GS exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses GS naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to GS: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get GS exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (DIVO, UDOW, DIA), which spreads the position across many companies. Or build it into a focused thematic portfolio, so GS sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where GS fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Goldman Sachs today is, above all, a capital markets engine: its Global Banking and Markets segment generated ~$34.94 billion in net revenues in 2024 (with 2025 and 2026 results even stronger), and the firm held the number-one global rank in both announced and completed M&A advisory for the full year. If you believe that a continued M&A recovery, strong equity capital markets activity, and secular growth in alternatives-focused asset management will compound over the next several years, the question becomes sizing and overlap with other financial-sector positions, not timing; the risk is that Goldman's revenues are among the most volatile of any large financial institution, and a prolonged market downturn or regulatory capital reset could erode the premium return profile the firm has worked years to rebuild. As of October 16, 2026 the stock trades near 12.8x trailing earnings after a pullback of about 18% over three months, a much lower multiple than earlier in the year even as earnings set new highs.

Whether GS is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is GS a buy or a sell?, and where the stock could go from here in the GS stock forecast.

For income investors, whether GS pays a dividend and how the payout looks is covered in does GS pay a dividend? And to weigh GS against a peer, read the full side-by-side comparisons: GS vs AXP and GS vs BAC.