Company Valuation: The Goldman Sachs Group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 133,434 121,752 132,489 188,516 275,760 329,955 - -
Change - -8.76% 8.82% 42.29% 46.28% 19.65% - -
Enterprise Value (EV) 1 403,434 342,752 532,489 672,516 772,760 763,762 779,632 796,231
Change - -15.04% 55.36% 26.3% 14.91% -1.16% 2.08% 2.13%
P/E Ratio 6.43x 11.4x 16.9x 14.1x 17.1x 18.1x 16.4x 15.1x
PBR 1.35x 1.13x 1.23x 1.7x 2.46x 2.89x 2.72x 2.61x
PEG - -0.2x -0.7x 0.2x 0.6x 1.1x 1.6x 1.75x
Capitalization / Revenue 2.25x 2.57x 2.85x 3.52x 4.73x 5.16x 4.92x 4.83x
EV / Revenue 6.8x 7.24x 11.4x 12.6x 13.3x 12x 11.6x 11.6x
EV / EBITDA - - - - - - - -
EV / EBIT 14.7x 21.2x 44.2x 34.1x 37.3x 31x 30.1x 31x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 6.5 9 10.5 11.75 14 18.41 19.8 21.46
Rate of return 1.7% 2.62% 2.72% 2.05% 1.59% 1.71% 1.84% 1.99%
EPS 2 59.45 30.06 22.87 40.54 51.32 59.49 65.57 71.23
Distribution rate 10.9% 29.9% 45.9% 29% 27.3% 31% 30.2% 30.1%
Net sales 1 59,339 47,365 46,524 53,512 58,283 63,892 66,996 68,373
EBITDA - - - - - - - -
EBIT 1 27,401 16,201 12,037 19,745 20,739 24,637 25,937 25,705
Net income 1 21,151 10,764 7,907 13,525 16,300 18,072 19,361 20,115
Net Debt 1 270,000 221,000 400,000 484,000 497,000 433,807 449,677 466,276
Reference price 2 382.55 343.38 385.77 572.62 879.00 1,076.17 1,076.17 1,076.17
Nbr of stocks (in thousands) 348,801 354,568 343,439 329,217 313,720 306,601 - -
Announcement Date 1/18/22 1/17/23 1/16/24 1/15/25 1/15/26 - - -
1USD in Million2USD
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.09x11.95x - 1.71% 330B
18.39x7.59x - 1.93% 344B
13x - - 1.77% 241B
15.47x - - 1.41% 158B
10.72x0.9x - 3.29% 57.51B
17.94x5.99x - 3.07% 27.47B
7.64x - - 3.8% 26.85B
9.82x7.3x - 3.22% 25.48B
11.05x7.47x - 3.68% 25.81B
15.56x1.43x9.24x0.43% 23.62B
Average 13.77x 6.09x 9.24x 2.43% 125.95B
Weighted average by Cap. 15.95x 8.62x 9.24x 1.94%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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