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The Goldman Sachs Group Inc GS Stock Quote

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Last close prices updated as of Feb 06, 2023, 4:10 PM EST | USD | BATS BZX Real-Time Price
  • Last Close 369.95
  • Sector Financial Services
  • Industry Capital Markets
  • Investment Style Large Value
  • Day Range 365.78  –  371.26
  • Year Range 277.84  –  389.58
  • Market Cap 124.1868 Bil
  • Volume / Avg 1.8 Mil /  2.3 Mil
  • Price / Sales 2.80
  • Price / Book 1.06
  • Forward Div Yield 2.70%
  • Trailing Div Yield 2.43%

Morningstar‘s Stock Analysis GS

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Goldman Sachs Ends 2022 on a Weak Note and 2023 Likely Challenging; Shares Modestly Undervalued

Michael Wong Sector Director

Analyst Note

| Michael Wong |

Goldman Sachs reported weak fourth-quarter results for 2022, as net revenue continued its downward trend and expenses remained high. The company reported net income to common shareholders of $1.19 billion, or $3.32 per diluted share, on $10.6 billion of net revenue for the fourth quarter of 2022. Net revenue fell 16% from the previous year with the majority of the decline from investment banking that fell 48% to $1.9 billion and other principal transactions revenue that fell 80% to $369 million. Sequentially, net revenue declined 12% and operating expenses grew 5%, which led to net income falling 60%. The sequential growth in expenses was somewhat surprising, as the third quarter already reflected expenses from recent acquisitions, trading expenses were high while trading revenue was low, management should have been preparing the company for a tougher environment, and historically the company’s compensation ratio in the fourth quarter is low while in 2022 it was the highest compensation ratio quarter. The annualized return on tangible common equity in the fourth quarter was 4.8% compared with the prior nine months of 2022 ROTE of 12.2%. Despite the disappointing fourth-quarter results, 2022 was still the company’s second highest year for net revenue and earnings per share due to acquisitions and lingering benefits from the stimulative monetary and fiscal policies of the previous couple years. As our long-term outlook for narrow-moat Goldman Sachs remains largely the same, we don’t plan on making a material change to our $404 fair value estimate for the firm and assess shares are modestly undervalued.

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Key Statistics GS

Company Profile GS

Business Description

Goldman Sachs is a leading global investment banking firm. Approximately 20% of its revenue comes from investment banking, 45% from trading, 20% from asset management and 15% from wealth management and retail financial services. Around 60% of the company's net revenue is generated in the Americas, 15% in Asia, and 25% in Europe, the Middle East, and Africa. In 2008, Goldman reorganized itself as a financial holding company regulated by the Federal Reserve System.

200 West Street
New York, NY, 10282
Industry Capital Markets
Employees 49,100

Related Articles GS

FAQs for The Goldman Sachs Group Inc Stock

Yes. GS has a forward dividend yield of 2.70%. See GS’s full dividends and stock split history on the Dividend tab.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

Learn more about dividend yield.

GS’s market cap is 124.19 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

Learn more about market capitalization.

GS’s stock style is Large Value.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

Learn more about style.

GS’s price/sales is 2.80.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

GS’s price/forward earnings is 10.25.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

GS’s price/book is 1.06.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

See GS’s valuation ratios compared to the Market Index.

GS’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare GS’s historical performance against its industry peers and the overall market.