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Also traded in: Austria, Brazil, Germany, Mexico, Switzerland, UK

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash-to-Debt 0.41
NYSE:GS's Cash-to-Debt is ranked lower than
86% of the 720 Companies
in the Global Capital Markets industry.

( Industry Median: 1845.25 vs. NYSE:GS: 0.41 )
Ranked among companies with meaningful Cash-to-Debt only.
NYSE:GS' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.03  Med: 0.09 Max: 0.55
Current: 0.41
0.03
0.55
Equity-to-Asset 0.10
NYSE:GS's Equity-to-Asset is ranked lower than
91% of the 551 Companies
in the Global Capital Markets industry.

( Industry Median: 0.50 vs. NYSE:GS: 0.10 )
Ranked among companies with meaningful Equity-to-Asset only.
NYSE:GS' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.03  Med: 0.06 Max: 0.1
Current: 0.1
0.03
0.1
Debt-to-Equity 3.10
NYSE:GS's Debt-to-Equity is ranked lower than
95% of the 417 Companies
in the Global Capital Markets industry.

( Industry Median: 0.35 vs. NYSE:GS: 3.10 )
Ranked among companies with meaningful Debt-to-Equity only.
NYSE:GS' s Debt-to-Equity Range Over the Past 10 Years
Min: 2.73  Med: 3.82 Max: 7.92
Current: 3.1
2.73
7.92
Interest Coverage 1.33
NYSE:GS's Interest Coverage is ranked lower than
86% of the 618 Companies
in the Global Capital Markets industry.

( Industry Median: 79.07 vs. NYSE:GS: 1.33 )
Ranked among companies with meaningful Interest Coverage only.
NYSE:GS' s Interest Coverage Range Over the Past 10 Years
Min: 0.07  Med: 1.56 Max: 3.05
Current: 1.33
0.07
3.05
Beneish M-Score: -2.22
WACC vs ROIC
4.40%
3.67%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating Margin % 35.08
NYSE:GS's Operating Margin % is ranked higher than
69% of the 703 Companies
in the Global Capital Markets industry.

( Industry Median: 14.82 vs. NYSE:GS: 35.08 )
Ranked among companies with meaningful Operating Margin % only.
NYSE:GS' s Operating Margin % Range Over the Past 10 Years
Min: 10.51  Med: 33.29 Max: 43.9
Current: 35.08
10.51
43.9
Net Margin % 26.44
NYSE:GS's Net Margin % is ranked higher than
68% of the 703 Companies
in the Global Capital Markets industry.

( Industry Median: 11.04 vs. NYSE:GS: 26.44 )
Ranked among companies with meaningful Net Margin % only.
NYSE:GS' s Net Margin % Range Over the Past 10 Years
Min: 10.45  Med: 22.69 Max: 29.63
Current: 26.44
10.45
29.63
ROE % 9.27
NYSE:GS's ROE % is ranked higher than
63% of the 704 Companies
in the Global Capital Markets industry.

( Industry Median: 5.78 vs. NYSE:GS: 9.27 )
Ranked among companies with meaningful ROE % only.
NYSE:GS' s ROE % Range Over the Past 10 Years
Min: 3.4  Med: 10 Max: 29.03
Current: 9.27
3.4
29.03
ROA % 0.96
NYSE:GS's ROA % is ranked lower than
60% of the 720 Companies
in the Global Capital Markets industry.

( Industry Median: 1.77 vs. NYSE:GS: 0.96 )
Ranked among companies with meaningful ROA % only.
NYSE:GS' s ROA % Range Over the Past 10 Years
Min: 0.23  Med: 0.87 Max: 1.54
Current: 0.96
0.23
1.54
3-Year Revenue Growth Rate 0.90
NYSE:GS's 3-Year Revenue Growth Rate is ranked lower than
59% of the 564 Companies
in the Global Capital Markets industry.

( Industry Median: 4.40 vs. NYSE:GS: 0.90 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
NYSE:GS' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -12.5  Med: 1.3 Max: 36.1
Current: 0.9
-12.5
36.1
3-Year EBITDA Growth Rate -0.20
NYSE:GS's 3-Year EBITDA Growth Rate is ranked lower than
61% of the 461 Companies
in the Global Capital Markets industry.

( Industry Median: 6.60 vs. NYSE:GS: -0.20 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
NYSE:GS' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: -21.9  Med: 6.6 Max: 44
Current: -0.2
-21.9
44
3-Year EPS without NRI Growth Rate 1.80
NYSE:GS's 3-Year EPS without NRI Growth Rate is ranked lower than
60% of the 446 Companies
in the Global Capital Markets industry.

( Industry Median: 8.70 vs. NYSE:GS: 1.80 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
NYSE:GS' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -26.4  Med: 1.8 Max: 55.8
Current: 1.8
-26.4
55.8
GuruFocus has detected 2 Warning Signs with Goldman Sachs Group Inc $NYSE:GS.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» NYSE:GS's 30-Y Financials

Financials (Next Earnings Date: 2017-10-17)


Revenue & Net Income
Equity & Asset
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q3 2016

GS Guru Trades in Q3 2016

Ron Baron 800 sh (New)
Ken Heebner 255,000 sh (New)
John Griffin 440,000 sh (New)
Ray Dalio 28,100 sh (New)
Spiros Segalas 1,405,417 sh (New)
Jim Simons 49,200 sh (+720.00%)
Ken Fisher 1,971,845 sh (+693.08%)
Ruane Cunniff 742,870 sh (+31.45%)
Mario Gabelli 3,115 sh (+17.33%)
Keeley Asset Management Corp 2,831 sh (+12.34%)
Paul Tudor Jones 11,375 sh (+7.83%)
Pioneer Investments 936,162 sh (+7.06%)
Dodge & Cox 15,287,200 sh (+1.77%)
Donald Smith 265,515 sh (+0.47%)
Bill Nygren 1,705,000 sh (unchged)
Warren Buffett 10,959,519 sh (unchged)
First Eagle Investment 151 sh (unchged)
John Rogers 33,810 sh (unchged)
Tom Gayner 17,100 sh (unchged)
Yacktman Fund 250,000 sh (unchged)
Francis Chou 75,000 sh (unchged)
Tom Russo 9,393 sh (unchged)
Donald Yacktman 281,000 sh (-0.11%)
Chris Davis 251,652 sh (-0.13%)
Scott Black 13,596 sh (-0.90%)
David Dreman 12,449 sh (-2.71%)
John Buckingham 17,839 sh (-2.77%)
Charles de Vaulx 377,869 sh (-5.18%)
Richard Snow 10,561 sh (-6.15%)
HOTCHKIS & WILEY 1,409,367 sh (-7.23%)
Richard Pzena 1,674,601 sh (-9.68%)
Joel Greenblatt 4,099 sh (-83.34%)
» More
Q4 2016

GS Guru Trades in Q4 2016

George Soros 62,100 sh (New)
Daniel Loeb 400,000 sh (New)
Murray Stahl 2,242 sh (New)
Caxton Associates 125,000 sh (New)
Joel Greenblatt 6,158 sh (+50.23%)
Ken Heebner 320,000 sh (+25.49%)
John Griffin 460,000 sh (+4.55%)
Pioneer Investments 957,658 sh (+2.30%)
Spiros Segalas 1,965,608 sh (+39.86%)
Warren Buffett 10,959,519 sh (unchged)
George Soros 139,000 sh (unchged)
Ron Baron 800 sh (unchged)
First Eagle Investment 151 sh (unchged)
Tom Gayner 17,100 sh (unchged)
Francis Chou 75,000 sh (unchged)
Steven Cohen 100,000 sh (unchged)
Keeley Asset Management Corp Sold Out
Tom Russo Sold Out
Jim Simons Sold Out
Ray Dalio Sold Out
Chris Davis 250,902 sh (-0.30%)
Donald Smith 262,249 sh (-1.23%)
Ken Fisher 1,938,236 sh (-1.70%)
John Buckingham 17,292 sh (-3.07%)
Ruane Cunniff 715,555 sh (-3.68%)
Dodge & Cox 14,197,206 sh (-7.13%)
Mario Gabelli 2,815 sh (-9.63%)
Richard Pzena 1,486,725 sh (-11.22%)
John Rogers 28,548 sh (-15.56%)
Scott Black 10,842 sh (-20.26%)
HOTCHKIS & WILEY 1,070,971 sh (-24.01%)
Richard Snow 7,686 sh (-27.22%)
Bill Nygren 1,105,000 sh (-35.19%)
Yacktman Fund 160,000 sh (-36.00%)
Donald Yacktman 178,000 sh (-36.65%)
David Dreman 7,795 sh (-37.38%)
Charles de Vaulx 66,596 sh (-82.38%)
Paul Tudor Jones 1,200 sh (-89.45%)
» More
Q1 2017

GS Guru Trades in Q1 2017

Lee Ainslie 11,290 sh (New)
Jeremy Grantham 69,010 sh (New)
Louis Moore Bacon 270,000 sh (New)
Ray Dalio 9,520 sh (New)
Paul Tudor Jones 15,766 sh (+1213.83%)
Joel Greenblatt 11,706 sh (+90.09%)
George Soros 86,800 sh (+39.77%)
David Dreman 8,710 sh (+11.74%)
Ken Heebner 335,000 sh (+4.69%)
Murray Stahl 2,269 sh (+1.20%)
John Buckingham 17,400 sh (+0.62%)
Chris Davis 251,290 sh (+0.15%)
Bill Nygren 1,105,000 sh (unchged)
Mario Gabelli 2,815 sh (unchged)
Warren Buffett 10,959,519 sh (unchged)
Ron Baron 800 sh (unchged)
First Eagle Investment 151 sh (unchged)
Tom Gayner 17,100 sh (unchged)
Francis Chou 75,000 sh (unchged)
John Griffin 460,000 sh (unchged)
Steven Cohen 50,000 sh (unchged)
Charles de Vaulx 66,596 sh (unchged)
Richard Snow Sold Out
Daniel Loeb Sold Out
Scott Black 10,795 sh (-0.43%)
Dodge & Cox 14,002,587 sh (-1.37%)
Ken Fisher 1,888,367 sh (-2.57%)
Richard Pzena 1,418,891 sh (-4.56%)
HOTCHKIS & WILEY 1,022,095 sh (-4.56%)
Donald Smith 241,898 sh (-7.76%)
Pioneer Investments 846,053 sh (-11.65%)
John Rogers 24,805 sh (-13.11%)
Ruane Cunniff 620,624 sh (-13.27%)
Donald Yacktman 145,000 sh (-18.54%)
Yacktman Fund 130,000 sh (-18.75%)
Caxton Associates 41,700 sh (-66.64%)
Spiros Segalas 1,794,575 sh (-8.70%)
» More
Q2 2017

GS Guru Trades in Q2 2017

Jim Simons 253,300 sh (New)
Jeremy Grantham 145,810 sh (+111.29%)
Lee Ainslie 18,060 sh (+59.96%)
David Dreman 12,349 sh (+41.78%)
Paul Tudor Jones 20,480 sh (+29.90%)
John Buckingham 19,021 sh (+9.32%)
HOTCHKIS & WILEY 1,098,295 sh (+7.46%)
Scott Black 11,453 sh (+6.10%)
Murray Stahl 2,354 sh (+3.75%)
Donald Smith 250,802 sh (+3.68%)
Spiros Segalas 1,984,987 sh (+10.61%)
Yacktman Fund 130,000 sh (unchged)
Tom Gayner 17,100 sh (unchged)
First Eagle Investment 151 sh (unchged)
Ron Baron 800 sh (unchged)
Warren Buffett 10,959,519 sh (unchged)
Francis Chou 75,000 sh (unchged)
Bill Nygren 1,105,000 sh (unchged)
Charles de Vaulx 66,596 sh (unchged)
Ken Heebner Sold Out
Louis Moore Bacon Sold Out
George Soros Sold Out
John Rogers 24,799 sh (-0.02%)
Chris Davis 251,126 sh (-0.07%)
Richard Pzena 1,414,300 sh (-0.32%)
Dodge & Cox 13,908,167 sh (-0.67%)
Donald Yacktman 144,000 sh (-0.69%)
Mario Gabelli 2,775 sh (-1.42%)
Ruane Cunniff 608,601 sh (-1.94%)
John Griffin 435,900 sh (-5.24%)
Pioneer Investments 656,250 sh (-22.43%)
Joel Greenblatt 8,222 sh (-29.76%)
Ken Fisher 1,048,372 sh (-44.48%)
Ray Dalio 2,165 sh (-77.26%)
Caxton Associates 2,000 sh (-95.20%)
» More
» Details

Insider Trades

Latest Guru Trades with GS

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Dodge & Cox 2017-06-30 Reduce -0.67%0.02%$211.26 - $229.72 $ 231.034%13,908,167
Richard Pzena 2017-06-30 Reduce -0.32%0.01%$211.26 - $229.72 $ 231.034%1,414,300
HOTCHKIS & WILEY 2017-06-30 Add 7.46%0.07%$211.26 - $229.72 $ 231.034%1,098,295
Ken Fisher 2017-06-30 Reduce -44.48%0.32%$211.26 - $229.72 $ 231.034%1,048,372
Ruane Cunniff 2017-06-30 Reduce -1.94%0.03%$211.26 - $229.72 $ 231.034%608,601
Chris Davis 2017-06-30 Reduce -0.07%$211.26 - $229.72 $ 231.034%251,126
Donald Smith 2017-06-30 Add 3.68%0.05%$211.26 - $229.72 $ 231.034%250,802
Donald Yacktman 2017-06-30 Reduce -0.69%$211.26 - $229.72 $ 231.034%144,000
John Rogers 2017-06-30 Reduce -0.02%$211.26 - $229.72 $ 231.034%24,799
David Dreman 2017-06-30 Add 41.78%0.44%$211.26 - $229.72 $ 231.034%12,349
Joel Greenblatt 2017-06-30 Reduce -29.76%0.01%$211.26 - $229.72 $ 231.034%8,222
Mario Gabelli 2017-06-30 Reduce -1.42%$211.26 - $229.72 $ 231.034%2,775
Ken Heebner 2017-06-30 Sold Out 3.4%$211.26 - $229.72 $ 231.034%0
George Soros 2017-06-30 Sold Out 0.56%$211.26 - $229.72 $ 231.034%0
Dodge & Cox 2017-03-31 Reduce -1.37%0.04%$225.48 - $252.89 $ 231.03-4%14,002,587
Ken Fisher 2017-03-31 Reduce -2.57%0.02%$225.48 - $252.89 $ 231.03-4%1,888,367
Richard Pzena 2017-03-31 Reduce -4.56%0.09%$225.48 - $252.89 $ 231.03-4%1,418,891
HOTCHKIS & WILEY 2017-03-31 Reduce -4.56%0.05%$225.48 - $252.89 $ 231.03-4%1,022,095
Ruane Cunniff 2017-03-31 Reduce -13.27%0.21%$225.48 - $252.89 $ 231.03-4%620,624
Ken Heebner 2017-03-31 Add 4.69%0.15%$225.48 - $252.89 $ 231.03-4%335,000
Chris Davis 2017-03-31 Add 0.15%$225.48 - $252.89 $ 231.03-4%251,290
Donald Smith 2017-03-31 Reduce -7.76%0.13%$225.48 - $252.89 $ 231.03-4%241,898
Donald Yacktman 2017-03-31 Reduce -18.54%0.07%$225.48 - $252.89 $ 231.03-4%145,000
Yacktman Fund 2017-03-31 Reduce -18.75%0.11%$225.48 - $252.89 $ 231.03-4%130,000
George Soros 2017-03-31 Add 39.77%0.16%$225.48 - $252.89 $ 231.03-4%86,800
John Rogers 2017-03-31 Reduce -13.11%0.01%$225.48 - $252.89 $ 231.03-4%24,805
Joel Greenblatt 2017-03-31 Add 90.09%0.01%$225.48 - $252.89 $ 231.03-4%11,706
David Dreman 2017-03-31 Add 11.74%0.12%$225.48 - $252.89 $ 231.03-4%8,710
Dodge & Cox 2016-12-31 Reduce -7.13%0.17%$161.07 - $243.09 $ 231.0314%14,197,206
Ken Fisher 2016-12-31 Reduce -1.70%0.01%$161.07 - $243.09 $ 231.0314%1,938,236
Richard Pzena 2016-12-31 Reduce -11.22%0.19%$161.07 - $243.09 $ 231.0314%1,486,725
Bill Nygren 2016-12-31 Reduce -35.19%0.69%$161.07 - $243.09 $ 231.0314%1,105,000
HOTCHKIS & WILEY 2016-12-31 Reduce -24.01%0.23%$161.07 - $243.09 $ 231.0314%1,070,971
Ruane Cunniff 2016-12-31 Reduce -3.68%0.04%$161.07 - $243.09 $ 231.0314%715,555
Ken Heebner 2016-12-31 Add 25.49%0.69%$161.07 - $243.09 $ 231.0314%320,000
Donald Smith 2016-12-31 Reduce -1.23%0.01%$161.07 - $243.09 $ 231.0314%262,249
Chris Davis 2016-12-31 Reduce -0.30%$161.07 - $243.09 $ 231.0314%250,902
Donald Yacktman 2016-12-31 Reduce -36.65%0.14%$161.07 - $243.09 $ 231.0314%178,000
Yacktman Fund 2016-12-31 Reduce -36.00%0.21%$161.07 - $243.09 $ 231.0314%160,000
George Soros 2016-12-31 New Buy0.49%$161.07 - $243.09 $ 231.0314%62,100
John Rogers 2016-12-31 Reduce -15.56%0.01%$161.07 - $243.09 $ 231.0314%28,548
David Dreman 2016-12-31 Reduce -37.38%0.46%$161.07 - $243.09 $ 231.0314%7,795
Joel Greenblatt 2016-12-31 Add 50.23%0.01%$161.07 - $243.09 $ 231.0314%6,158
Mario Gabelli 2016-12-31 Reduce -9.63%$161.07 - $243.09 $ 231.0314%2,815
Keeley Asset Management Corp 2016-12-31 Sold Out 0.02%$161.07 - $243.09 $ 231.0314%0
Dodge & Cox 2016-09-30 Add 1.77%0.04%$144.45 - $171.66 $ 231.0342%15,287,200
Ken Fisher 2016-09-30 Add 693.08%0.52%$144.45 - $171.66 $ 231.0342%1,971,845
Richard Pzena 2016-09-30 Reduce -9.68%0.17%$144.45 - $171.66 $ 231.0342%1,674,601
HOTCHKIS & WILEY 2016-09-30 Reduce -7.23%0.07%$144.45 - $171.66 $ 231.0342%1,409,367
Ruane Cunniff 2016-09-30 Add 31.45%0.27%$144.45 - $171.66 $ 231.0342%742,870
Donald Yacktman 2016-09-30 Reduce -0.11%$144.45 - $171.66 $ 231.0342%281,000
Donald Smith 2016-09-30 Add 0.47%0.01%$144.45 - $171.66 $ 231.0342%265,515
Ken Heebner 2016-09-30 New Buy1.94%$144.45 - $171.66 $ 231.0342%255,000
Chris Davis 2016-09-30 Reduce -0.13%$144.45 - $171.66 $ 231.0342%251,652
David Dreman 2016-09-30 Reduce -2.71%0.03%$144.45 - $171.66 $ 231.0342%12,449
Joel Greenblatt 2016-09-30 Reduce -83.34%0.03%$144.45 - $171.66 $ 231.0342%4,099
Mario Gabelli 2016-09-30 Add 17.33%$144.45 - $171.66 $ 231.0342%3,115
Keeley Asset Management Corp 2016-09-30 Add 12.34%$144.45 - $171.66 $ 231.0342%2,831
Ron Baron 2016-09-30 New Buy$144.45 - $171.66 $ 231.0342%800
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Preferred stocks of Goldman Sachs Group Inc

SymbolPriceYieldDescription
GSPRK29.105.46Deposit Shs Repr 1/1000th Non-Cum Pfd Shs Series -K
GSPRJ27.055.08Deposit Shs Repr 1/1000th Non-Cum Perp Pfd Shs Ser J
GSPRB26.005.96Depositary Shares Each Representing 1/1,000th Interest in a Share of 6.20% NonCumulative Preferred S
GSPRC23.904.25Repr 1/1000th Flt Rt Non-Cum Pfd Series -C-
GSPRD23.224.37Deposit Shs Repr 1/1000th Perp Fltg Rate Non Cum Pfd Shs Ser -D-
GSPRI25.615.81Non-Cum Perp Pfd Shs Series -I-
GSPRA23.904.011/1,000th Int Flt Rate Non-Cum Prf , Ser A
GLSSP0.000.00Non-Cum Pfd Shs Series -M-

Business Description

Industry: Brokers & Exchanges » Capital Markets    NAICS: 523999    SIC: 6211
Compare:NYSE:MS, NYSE:SCHW, NYSE:SPGI, NYSE:MCO, NAS:AMTD, NAS:IBKR, NYSE:RJF, NAS:ETFC, NYSE:MSCI, NAS:MKTX, NYSE:FDS, NAS:LPLA, NAS:BGCP, NYSE:SF, NAS:VIRT, NYSE:EVR, NYSE:HLI, NYSE:ENV, NYSE:FSIC, NYSE:KCG » details
Traded in other countries:GS.Austria, GSGI34.Brazil, GOS.Germany, GS.Mexico, GS.Switzerland, 0R3G.UK,
Headquarter Location:USA
Goldman Sachs Group Inc is engaged in capital market activities. Its services primarily include investment banking operations.

Goldman Sachs is a global investment banking firm whose activities are organized into investment banking, institutional client services, investing and lending, and investment management segments. In 2008, Goldman reorganized itself as a financial holding company regulated by the Federal Reserve System.

Guru Investment Theses on Goldman Sachs Group Inc

Dodge & Cox Comments on Goldman Sachs - Aug 15, 2016

Goldman Sachs (NYSE:GS) (2.5% of the Fund) is a leading global investment bank, securities broker, and investment manager that provides financial services to a diversified client base that includes corporations, financial institutions, governments, and high-net-worth individuals. Since the financial crisis, Goldman Sachs has deleveraged its balance sheet, shed risky assets, and increased its liquidity. As European competitors (e.g., Credit Suisse, UBS, Royal Bank of Scotland) continue to cut costs and retreat from investment banking, Goldman has an opportunity to further increase its market share in many key businesses. While regulatory requirements have increased, this should reduce the probability of large trading losses. Finally, although market turns can be sudden and difficult to predict, Goldman Sachs has demonstrated an ability to remain profitable: over the past 16 quarters, its return on common equity has averaged an impressive 10%.



Continuing macroeconomic uncertainty has led to diminished primary debt and equity issuance and weaker secondary market trading conditions. Many of Goldman Sachs’ key clients, such as hedge funds and active asset managers, are experiencing net asset outflows. In this period of slower activity, the company has maintained its global network while downsizing naturally through attrition. The weak operating environment and concerns about Brexit have weighed on the stock, which was down 17% during the first half of 2016. However, after carefully analyzing the company’s risks and opportunities, we recently added to Goldman Sachs because it is an increasingly dominant player, has a highly profitable business, and trades at an attractive 0.9 times tangible book value.



From Dodge & Cox's second quarter 2016 shareholder letter.



Check out Dodge & Cox latest stock trades

Dodge & Cox Comments on Goldman Sachs - Aug 01, 2016

Goldman Sachs (NYSE:GS) (1.9% of the Fund) is a leading global investment bank, securities broker, and investment manager that provides financial services to a diversified client base that includes corporations, financial institutions, governments, and high-net-worth individuals. Since the financial crisis, Goldman Sachs has deleveraged its balance sheet, shed risky assets, and increased its liquidity. As European competitors (e.g., Credit Suisse, UBS, Royal Bank of Scotland) continue to cut costs and retreat from investment banking, Goldman has an opportunity to further increase its market share in many key businesses. While regulatory requirements have increased, this should reduce the probability of large trading losses. Finally, although market turns can be sudden and difficult to predict, Goldman Sachs has demonstrated an ability to remain profitable: over the past 16 quarters, its return on common equity has averaged an impressive 10%.



Continuing macroeconomic uncertainty has led to diminished primary debt and equity issuance and weaker secondary market trading conditions. Many of Goldman Sachs’ key clients, such as hedge funds and active asset managers, are experiencing net asset outflows. In this period of slower activity, the company has maintained its global network while downsizing naturally through attrition. The weak operating environment and concerns about Brexit have weighed on the stock, which was down 17% during the first half of 2016. However, after carefully analyzing the company’s risks and opportunities, we recently added to Goldman Sachs because it is an increasingly dominant player, has a highly profitable business, and trades at an attractive 0.9 times tangible book value.



From Dodge & Cox Global Stock Fund second quarter 2016 commentary.



Check out Dodge & Cox latest stock trades

GAMCO Global Growth Fund Comments on The Goldman Sachs Group Inc. - Feb 22, 2016

The Goldman Sachs Group Inc. (NYSE:GS) (1.9%) (GS – $180.23 – NYSE) is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.



From the GAMCO Global Growth Fund fourth quarter 2015 commentary.



Check out Mario Gabelli latest stock trades

Top Ranked Articles about Goldman Sachs Group Inc

US Market Indexes Lower on Thursday Dow Jones closes at 22,359.23
U.S. market indexes were lower on Thursday. The Dow Jones Industrial Average closed at 22,359.23 for a loss of -53.36 points or -0.24%. The S&P 500 closed at 2,500.60 for a loss of -7.64 points or -0.30%. The Nasdaq Composite closed at 6,422.69 for a loss of -33.35 points or -0.52%. The VIX Volatility Index was higher for the day at 9.79 for a gain of 0.01 points or 0.10%. Read more...
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Ratios

vs
industry
vs
history
PE Ratio 12.14
GS's PE Ratio is ranked higher than
71% of the 519 Companies
in the Global Capital Markets industry.

( Industry Median: 19.82 vs. GS: 12.14 )
Ranked among companies with meaningful PE Ratio only.
GS' s PE Ratio Range Over the Past 10 Years
Min: 5.35  Med: 11.27 Max: 34.9
Current: 12.14
5.35
34.9
Forward PE Ratio 11.31
GS's Forward PE Ratio is ranked higher than
88% of the 67 Companies
in the Global Capital Markets industry.

( Industry Median: 18.59 vs. GS: 11.31 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 12.14
GS's PE Ratio without NRI is ranked higher than
72% of the 520 Companies
in the Global Capital Markets industry.

( Industry Median: 20.00 vs. GS: 12.14 )
Ranked among companies with meaningful PE Ratio without NRI only.
GS' s PE Ratio without NRI Range Over the Past 10 Years
Min: 5.35  Med: 11.27 Max: 34.9
Current: 12.14
5.35
34.9
PB Ratio 1.20
GS's PB Ratio is ranked higher than
53% of the 556 Companies
in the Global Capital Markets industry.

( Industry Median: 1.29 vs. GS: 1.20 )
Ranked among companies with meaningful PB Ratio only.
GS' s PB Ratio Range Over the Past 10 Years
Min: 0.44  Med: 1.1 Max: 2.73
Current: 1.2
0.44
2.73
PS Ratio 3.02
GS's PS Ratio is ranked higher than
60% of the 683 Companies
in the Global Capital Markets industry.

( Industry Median: 3.90 vs. GS: 3.02 )
Ranked among companies with meaningful PS Ratio only.
GS' s PS Ratio Range Over the Past 10 Years
Min: 1.07  Med: 2.37 Max: 3.55
Current: 3.02
1.07
3.55
EV-to-EBIT 22.87
GS's EV-to-EBIT is ranked lower than
62% of the 527 Companies
in the Global Capital Markets industry.

( Industry Median: 15.43 vs. GS: 22.87 )
Ranked among companies with meaningful EV-to-EBIT only.
GS' s EV-to-EBIT Range Over the Past 10 Years
Min: 10.8  Med: 23.5 Max: 76.3
Current: 22.87
10.8
76.3
EV-to-EBITDA 20.95
GS's EV-to-EBITDA is ranked lower than
63% of the 545 Companies
in the Global Capital Markets industry.

( Industry Median: 14.13 vs. GS: 20.95 )
Ranked among companies with meaningful EV-to-EBITDA only.
GS' s EV-to-EBITDA Range Over the Past 10 Years
Min: 10  Med: 21.3 Max: 45.3
Current: 20.95
10
45.3
EV-to-Revenue 8.02
GS's EV-to-Revenue is ranked lower than
68% of the 624 Companies
in the Global Capital Markets industry.

( Industry Median: 4.10 vs. GS: 8.02 )
Ranked among companies with meaningful EV-to-Revenue only.
GS' s EV-to-Revenue Range Over the Past 10 Years
Min: 4.9  Med: 7.9 Max: 10.4
Current: 8.02
4.9
10.4
PEG Ratio 1.59
GS's PEG Ratio is ranked lower than
59% of the 200 Companies
in the Global Capital Markets industry.

( Industry Median: 1.23 vs. GS: 1.59 )
Ranked among companies with meaningful PEG Ratio only.
GS' s PEG Ratio Range Over the Past 10 Years
Min: 0.16  Med: 1.88 Max: 10.52
Current: 1.59
0.16
10.52
Shiller PE Ratio 15.17
GS's Shiller PE Ratio is ranked higher than
79% of the 102 Companies
in the Global Capital Markets industry.

( Industry Median: 25.78 vs. GS: 15.17 )
Ranked among companies with meaningful Shiller PE Ratio only.
GS' s Shiller PE Ratio Range Over the Past 10 Years
Min: 6.8  Med: 11.23 Max: 16.69
Current: 15.17
6.8
16.69

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.17
GS's Dividend Yield % is ranked higher than
81% of the 567 Companies
in the Global Capital Markets industry.

( Industry Median: 2.66 vs. GS: 1.17 )
Ranked among companies with meaningful Dividend Yield % only.
GS' s Dividend Yield % Range Over the Past 10 Years
Min: 0.59  Med: 1.17 Max: 2.63
Current: 1.17
0.59
2.63
Dividend Payout Ratio 0.14
GS's Dividend Payout Ratio is ranked higher than
97% of the 329 Companies
in the Global Capital Markets industry.

( Industry Median: 0.49 vs. GS: 0.14 )
Ranked among companies with meaningful Dividend Payout Ratio only.
GS' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.06  Med: 0.13 Max: 0.31
Current: 0.14
0.06
0.31
3-Year Dividend Growth Rate 8.20
GS's 3-Year Dividend Growth Rate is ranked higher than
56% of the 239 Companies
in the Global Capital Markets industry.

( Industry Median: 5.60 vs. GS: 8.20 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
GS' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: 0  Med: 12.9 Max: 27.7
Current: 8.2
0
27.7
Forward Dividend Yield % 1.30
GS's Forward Dividend Yield % is ranked higher than
82% of the 543 Companies
in the Global Capital Markets industry.

( Industry Median: 2.75 vs. GS: 1.30 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 2.17
GS's 5-Year Yield-on-Cost % is ranked higher than
88% of the 707 Companies
in the Global Capital Markets industry.

( Industry Median: 3.24 vs. GS: 2.17 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
GS' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 1.09  Med: 2.16 Max: 4.85
Current: 2.17
1.09
4.85
3-Year Average Share Buyback Ratio 4.20
GS's 3-Year Average Share Buyback Ratio is ranked higher than
92% of the 373 Companies
in the Global Capital Markets industry.

( Industry Median: -0.50 vs. GS: 4.20 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
GS' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -9.1  Med: 3.3 Max: 6.7
Current: 4.2
-9.1
6.7

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 1.27
GS's Price-to-Tangible-Book is ranked higher than
52% of the 514 Companies
in the Global Capital Markets industry.

( Industry Median: 1.31 vs. GS: 1.27 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
GS' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.71  Med: 1.74 Max: 4.64
Current: 1.27
0.71
4.64
Price-to-Intrinsic-Value-Projected-FCF 1.11
GS's Price-to-Intrinsic-Value-Projected-FCF is ranked higher than
70% of the 247 Companies
in the Global Capital Markets industry.

( Industry Median: 1.20 vs. GS: 1.11 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
GS' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.37  Med: 0.61 Max: 18.65
Current: 1.11
0.37
18.65
Price-to-Median-PS-Value 1.27
GS's Price-to-Median-PS-Value is ranked lower than
66% of the 644 Companies
in the Global Capital Markets industry.

( Industry Median: 1.05 vs. GS: 1.27 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
GS' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.67  Med: 1.03 Max: 1.66
Current: 1.27
0.67
1.66
Price-to-Graham-Number 0.83
GS's Price-to-Graham-Number is ranked higher than
64% of the 441 Companies
in the Global Capital Markets industry.

( Industry Median: 1.11 vs. GS: 0.83 )
Ranked among companies with meaningful Price-to-Graham-Number only.
GS' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.54  Med: 0.93 Max: 2.05
Current: 0.83
0.54
2.05
Earnings Yield (Greenblatt) % 4.37
GS's Earnings Yield (Greenblatt) % is ranked higher than
54% of the 719 Companies
in the Global Capital Markets industry.

( Industry Median: 4.06 vs. GS: 4.37 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
GS' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: 1.3  Med: 4.3 Max: 9.3
Current: 4.37
1.3
9.3
Forward Rate of Return (Yacktman) % 1.59
GS's Forward Rate of Return (Yacktman) % is ranked lower than
58% of the 253 Companies
in the Global Capital Markets industry.

( Industry Median: 10.16 vs. GS: 1.59 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
GS' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -104.3  Med: 5.5 Max: 26.2
Current: 1.59
-104.3
26.2

More Statistics

Revenue (TTM) (Mil) $32,251.00
EPS (TTM) $ 19.03
Beta1.44
Short Percentage of Float1.81%
52-Week Range $157.77 - 255.15
Shares Outstanding (Mil)386.88

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 32,677 32,656 33,708
EPS ($) 18.08 20.08 21.92
EPS without NRI ($) 18.08 20.08 21.92
EPS Growth Rate
(Future 3Y To 5Y Estimate)
5.30%
Dividends per Share ($) 2.98 3.20 3.48
» More Articles for GS

Headlines

Articles On GuruFocus.com
US Market Indexes Lower on Thursday Sep 22 2017 
Sept. 19 Forum Update: ‘Qualcomm-NXP’ Edition Sep 19 2017 
US Market Indexes Reach New Highs on Tuesday Sep 13 2017 
US Market Indexes Gain on Monday Sep 12 2017 
Get A Stock Report On Disney, The Goldman Sachs Group, Hewlett Packard Enterprise Company, Insmed in Sep 06 2017 
US Market Indexes Lower With Increased Trading Volatility Sep 06 2017 
Stocks Warren Buffett and George Soros Disagree On Sep 01 2017 
US Market Indexes Higher on Friday Sep 03 2017 
US Market Indexes Mostly Higher on Monday Aug 29 2017 
What a Difference a Decade Makes Aug 22 2017 

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