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GS · US

GS.US Goldman Sachs: latest print still Q2 — calendar set Q3 for Oct 13

Goldman Sachs Wholesale IB. No new P&L in this window; financials still Q2. 2025-08-18 calendar sets Q3 for **2026-10-13** (~07:30 ET print / 09:30 ET call). Watch IB wallet, FICC, capital return.

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Snapshot

Price
USD 942
Market cap
USD 274.3B
2026-Q2 net revenue
USD 20.3B
PE TTM
14.6
As of 2026-09-27

As-of 2026-09-27 (weekly refresh; equities aligned to §A. Missing series are N/A/null. Not investment advice.)

Thesis

Goldman Sachs (GS) Wholesale IB leader. GBM and AM drive the P&L; consumer-bank experiments were scaled back. Watch IB wallet, FICC, capital return.

Business

Model: advisory/underwriting + market-making + AM. Flagship: GBM. Edge: institutional franchise. Strategy: core wholesale, capital efficiency. Entity: The Goldman Sachs Group, Inc.

Value chain

Wholesale intermediary with higher client concentration than retail banks. Risks: counterparties, clearing, capital.

Corporate events

No new 8-K P&L in this window. The table only records the named Q3 calendar and the still-current Q2 print.

Corporate events

Corporate events
DatePhaseEventMeaning
2026-Q2财报最新正式打印仍为 Q2（SEC companyfacts 单季 frame）收入/净利图不停在未披露的 Q3
2026-10-13日历Q3 FY26 出数 / 电话会（07:30 ET print / 09:30 ET call）Goldman Sachs press, 2025-08-18 calendar
As of 2026-09-27

Valuation

Cyclical: sensitive to issuance/M&A; PB and ROE are anchors.

Valuation snapshot

Valuation snapshot
MetricValueNote
TTM PE14.6腾讯财经行情；历史季为 null
PB2.50腾讯财经行情；银行主锚之一
股息率N/A未接入分红公告同源序列
现价 / 市值942.0 / $274.28B2026-09-18 16:05:15
As of 2026-09-27

Valuation · ~3y

Interactive chart available in the reader.

TTM PE/PB only on latest quarter from gtimg; div yield null; ann_return is price YoY · As of 2026-09-27

~3y quarterly closes (Sina US daily resampled to quarter-end; gaps are null):

Share price · ~3y

Interactive chart available in the reader.

Sina US daily closes resampled to quarter-end · As of 2026-09-27

Financial trend (~24 months)

Net revenue RevenuesNetOfInterestExpense and net income NetIncomeLoss from SEC companyfacts CYyyyyQn frames (single-quarter). Banks have no gross margin; the margin chart is quarterly NI / net revenue.

Net revenue · last 8Q

Interactive chart available in the reader.

SEC companyfacts RevenuesNetOfInterestExpense CYyyyyQn frames · As of 2026-09-27

Net margin · last 8Q (NI / net revenue)

Interactive chart available in the reader.

SEC NetIncomeLoss / RevenuesNetOfInterestExpense same quarter; banks have no gross margin · As of 2026-09-27

Net income · last 8Q

Interactive chart available in the reader.

SEC NetIncomeLoss CYyyyyQn; null when missing · As of 2026-09-27

Financial health (§A.7)

Wholesale bank: liquidity and stress tests over inventory turns. Auditor opinion on the 10-K.

Financial health

Financial health
ItemRead-throughNote
财务健康总评银行口径：看资本与信贷成本非工业净现金框架
经营现金流见最新 10-Q银行 OCF 含交易/营运资金，波动大
资本 / 有息负债CET1 与批发融资见 10-QGSIB/区域行资本规则不同
流动性LCR / 现金及准备金见 10-Q存款搬家与市场流动性
审计意见以最新 10-K 为准持续经营强调事项如有会在年报披露
As of 2026-09-27

Operations

Volume: announced M&A and underwriting; price: bid-ask; cost: comp and RWA.

Key financial points

Key financial points
ItemValueAs-ofBasis
最新单季净营收$20.34B2026-Q2SEC RevenuesNetOfInterestExpense CYyyyyQn
最新单季净利润$6.63B2026-Q2SEC NetIncomeLoss CYyyyyQn
近四季度净营收合计$67.33BLTM单季加总，未年化调整
现价 / 市值942.0 / $274.28B2026-09-18 16:05:15腾讯财经 gtimg
TTM PE / PB14.55 / 2.5最新季一点无历史同源序列则仅最新点
As of 2026-09-27

Competition

No sourced quarterly deposit/IB-wallet share series — share charts stay null. Qualitative peers:

Market share trend · last 8Q

Interactive chart available in the reader.

No sourced quarterly deposit/IB-wallet series; null points only · As of 2026-09-27

Peer market share comparison (latest est.)

Interactive chart available in the reader.

No sourced share figures; see qualitative peer_table · As of 2026-09-27

Peer comparison

Peer comparison
CompanyPositionQuality (qual.)StrengthWeakness
Goldman Sachs机构投行中GBM 品牌零售存款薄
Morgan Stanley财富+IB中高经常性财富费FICC 弱于 GS
JPMorgan全能高存款对冲周期纯投行溢价不如 GS
Citigroup跨境批发中TTS 网络投行份额落后
As of 2026-09-27

Management

Core management (24m)

Core management (24m)
RoleNameSince24m change
CEODavid Solomon201824m 无实际控制人变更
CFODenis Coleman2022稳定
董事长David Solomon2018两职合一
As of 2026-09-27

Stability: Core team stable; strategy pulled back from consumer banking.

Outlook

Near-term: Q3 FY26 print scheduled 2026-10-13 (07:30 ET print / 09:30 ET call). This pack does not pre-fill an undisclosed P&L. Medium-term: the tracking items above.

Scenarios

Case Condition Read-through
Bull NIM / credit / fees beat last 4Q Upside revision
Base Rates and credit near recent trend Hold / track
Bear Credit or IB/wealth fees deteriorate Reassess

Risks

Risks

Risks
RiskLevelNote
投行与发行周期高并购/IPO 停滞后费用收入下滑
交易与存货风险高FICC/股票做市在波动中可能亏损
资本与 GSIB中批发 RWA 密度高
诉讼中历史业务的法律尾部
人才薪酬低薪酬比随收入波动
As of 2026-09-27

Tracking

Check the next 10-Q / earnings release for:

  1. Q3 FY26 print scheduled 2026-10-13 (07:30 ET print / 09:30 ET call; Goldman Sachs press, 2025-08-18 calendar) — pack financials still stop at Q2 SEC frames; do not extrapolate
  2. IB fees
  3. FICC net revenue
  4. CET1
  5. Buybacks

References

Not investment advice. Filings over quotes; PE/PB are point-in-time, not a historical multiple curve.

Disclaimer: For research information only. Not investment advice or a recommendation to buy or sell.

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