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The Goldman Sachs Group

GS
39
Financial - Capital Markets · Financial Services
Winston Score
39
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Strong
Cash Flow
Weak
Stability
Weak
Valuation
Good
Dividends
Good

Winston Score History

The full picture

Goldman Sachs is one of the most well-known investment banks in the world. It helps large companies, governments, and wealthy individuals manage money, raise capital, and make big financial deals. Its main businesses include investment banking, trading stocks and bonds, wealth management, and asset management.

Goldman makes money by charging fees for advising on mergers and acquisitions, earning commissions from trading, and collecting management fees on the money it invests for clients. It operates globally, with major hubs in New York, London, and Hong Kong, and manages over $2 trillion in assets. Its competitive edge comes from deep relationships with the world's largest corporations and governments, plus a strong reputation built over 150 years. The key risk the company faces is that its revenue is closely tied to market activity — when markets slow down or volatility drops, deal-making and trading income can fall sharply.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+22.9% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+92.1% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

0.0%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$1.9T cash & investments at current burn rate

Growth context

The Goldman Sachs Group is growing revenue at 23% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
52.7%
Healthy — 52.7% gross margin
Profit after running costs
Operating Margin
30.0%
Excellent — 30.0% operating margin
Return on the money invested
ROCE
3.2%
Weak — 3.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
-6.8%
Shrinking sales (-6.8% YoY)
Profit growth
EPS YoY
+42.7%
Earnings growing fast (+42.7% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
-190%
Weak — only -190% of profit becomes cash
Spare cash per sale
FCF Margin
-35.5%
Burning cash (-35.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
6.47
Heavy debt load (6.47)
Covers its interest
Interest Cover
0.43x
Dangerous — barely covers interest (0.4x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit
P/E Ratio (TTM)
15.3x
no trend
Fair value — P/E 15.3

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+0.7
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
1.60%
no trend
Small dividend — 1.60% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+38.5%
no trend
Dividend growing fast (38.5% YoY)

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