Stock

The Goldman Sachs Group

GS
41
Financial - Capital Markets · Financial Services
Price
$881.26
-10.02 (-1.12%)
Market Cap
$256.60B
Winston Score
41
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
15/30
Growth
Strong
15/20
Cash Flow
Weak
0/10
Stability
Weak
0/10
Valuation
Good
6/10
Ownership
Weak
1/15
Dividends
Strong
4/5

41 of 100 counted points = Winston Score 41.

Share count falling — buybacks

−10.7% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 355.8M (2021) → 317.6M (2025)

§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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34 trades / 12mo

21 Congressional buys and 13 sells on GS in the last 12 months.

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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)
13.4x
Attractive valuation — P/E 13.4

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
+0.0
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
2.17%
Moderate income — 2.17% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+38.5%
Dividend growing fast (38.5% YoY)
Payout Ratio
28%
no trend
Pays out a modest share of profit and keeps the rest to reinvest. Room to keep paying through a weak year.

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