Goldman Sachs (GS)
NYSEFinancialsCapital MarketsSnapshot 2026-07-08
$1028.96-1.34%
Close 2026-07-08 · 1-day change
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Track GS free→Intact: The reason to own it still holds.
Goldman Sachs grows Global Banking & Markets revenue 19% by 2026-Q1. Asset & Wealth Management revenue rises 10% in the same period. The firm returns $6.38 billion to shareholders in 2026-Q1 with rising dividends. Trading surges and strong M&A boost earnings.
Revenue could fall 12% next year as analysts expect. Trading and dealmaking may slow. Overvaluation worries could limit capital returns.
The price is about 1% above our fair value near $1048. Analysts expect about 12% revenue decline. We see potential for growth above this.
Breaks if: revenue falls below $3.7 billion in 2026-Q1
Drive growth in Asset & Wealth Management through higher management fees and increased assets under supervision.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Stated as a priority in 3 recent quarters. Asset & Wealth Management net revenues increased from $3.71 billion in 2025-Q1 to $4.08 billion in 2026-Q1, a 10% rise, supported by higher management fees and assets under supervision. The segment showed steady growth consistent with management's stated focus.
“Net revenues in Asset & Wealth Management were $4.08 billion for 1Q26, 10% higher than 1Q25.”
“Asset & Wealth Management net revenues increased compared with prior quarters, driven by management fees.”
“Net revenues in Asset & Wealth Management were $4.40 billion for 3Q25, 17% higher than 3Q24 and 16% higher than 2Q25.”
Breaks if: capital return falls below $3.25 billion in 2026-Q1
Continue returning capital to shareholders through dividends and share repurchases with a focus on sustainable and growing dividends.
Stated as a priority in 3 disclosures including 2 recent quarters and a 2026 capital plan. Capital returned to shareholders increased from $3.25 billion in 2025-Q3 to $6.38 billion in 2026-Q1, with dividends rising from $4.00 to $4.50 per share and a planned increase to $5.00. The firm is delivering on its capital return commitments with a growing dividend and active repurchases.
“Returned $6.38 billion of capital to shareholders, including $5.00 billion share repurchases and $1.38 billion dividends.”
“Returned $3.25 billion of capital to shareholders, including $2.00 billion share repurchases and $1.25 billion dividends.”
Breaks if: EPS falls below $55 per share in 2026-FY
Breaks if: revenue falls below $10.7 billion in 2026-Q1
Focus on growing revenue in Global Banking & Markets through higher investment banking fees and equities financing.
Stated as a priority in 3 recent quarters. Global Banking & Markets net revenues grew from $10.12 billion in 2025-Q3 to $12.74 billion in 2026-Q1, a 26% increase over six months, driven by investment banking fees and equities financing. The trajectory matches management's stated focus on revenue growth in this segment, delivering consistent progress.
“Net revenues in Global Banking & Markets were $12.74 billion for 1Q26, 19% higher than 1Q25 and 22% higher than 4Q25.”
“Global Banking & Markets net revenues increased compared with prior quarters, driven by investment banking fees.”
“Net revenues in Global Banking & Markets were $10.12 billion for 3Q25, 18% higher than 3Q24 and essentially unchanged from 2Q25.”