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 tens of thousands of professionals across offices in every major global financial center.

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. The stock's P/E ratio of approximately 19.4 times trailing earnings sits roughly 47% above its own 10-year median, leaving limited margin of safety if earnings disappoint.

20 analysts publish price targets on GS, averaging $1140.15 against a $1018.38 price as of August 2026, or +12.0%. The published targets run from $730.00 to $1325.00, a moderate spread, and the ratings split 7 buy, 16 hold, 2 sell. Over the last six months there have been 11 raises and 1 cut 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, $1325.00, 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.

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 (Full Year 2025): ~$58.28 billion
• Net Earnings (Full Year 2025): ~$17.18 billion
• Diluted EPS (Full Year 2025): ~$51.32
• Return on Equity (Full Year 2025): ~15.0%
• P/E Ratio (TTM): ~19.4x
• Dividend Yield: ~1.69% (quarterly dividend raised to $5.00/share in June 2026)
• Book Value Per Share: ~$357.60 (as of December 31, 2025)

Goldman's 2025 revenues of ~$58.28 billion were the firm's highest on record, and diluted EPS of ~$51.32 represented a 27% increase over 2024's already-strong ~$40.54. The current trailing P/E of approximately 19.4x is roughly 47% above the firm's own 10-year median of about 13.25x, reflecting market optimism about a sustained M&A and capital markets recovery as well as asset management fee growth, though it also means the stock is priced for continued execution. The low-to-mid single-digit dividend yield (~1.69%) is supplemented by a newly authorized $20 billion buyback, with a payout ratio of approximately 30%, leaving significant earnings retained for capital deployment and growth.

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 (PFF, DIVO, UDOW), 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 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, robust 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.

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.