Goldman Sachs Group Future Growth
Future criteria checks 1/6
Goldman Sachs Group is forecast to grow earnings and revenue by 5.6% and 3.6% per annum respectively. EPS is expected to grow by 8.6% per annum. Return on equity is forecast to be 16.8% in 3 years.
Key information
5.6%
Earnings growth rate
8.59%
EPS growth rate
| Capital Markets earnings growth | 12.0% |
| Revenue growth rate | 3.6% |
| Future return on equity | 16.77% |
| Analyst coverage | Good |
| Last updated | 12 Jun 2026 |
Recent future growth updates
Recent updates
Analysis Article • Jun 21
Goldman Sachs Group (GS) Stock Could Be 17.4% Overvalued as Fee Growth Faces Questions
Goldman Sachs Group Stock Performance Snapshot Goldman Sachs Group (GS) continues to draw investor attention after recent trading, with the stock last closing at $1,096.56. Short term returns have been mixed, with a slight 1 day decline but a gain over the past week. Across longer horizons, Goldman Sachs Group has recorded gains over the past month, past 3 months, year to date, 1 year, 3 years and 5 years on a total return basis, which frames how the stock has recently rewarded...
Narrative Update • Jun 18
GS: AI Deal Boom Will Sustain An Overextended Earnings Multiple
Analysts have lifted their price target for Goldman Sachs Group to $780.03 from $743.84, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E, which together support a higher valuation framework. What’s in the News for Goldman Sachs Group Goldman Sachs strategists raised their year end S&P 500 target to 8,000 from 7,600, highlighting earnings tied to artificial intelligence infrastructure as a key driver of index level profit growth and outlining risks around elevated sentiment, fuel costs, labor market conditions, and speculation (source: Goldman Sachs S&P 500 target report).Seeking Alpha • Jun 11
Goldman Sachs: Take Advantage Of The IPO Craze With This Leading Investment Bank
Summary Goldman Sachs is rated a buy, positioned to benefit from robust IPO activity and record investment banking fees. GS posted 14.37% YoY revenue growth in Q1 2026, driven by its global banking and markets segment, notably investment banking fees up 48%. GS is the lead advisor on the anticipated SpaceX, Anthropic, and OpenAI IPOs, expected to be major catalysts for revenue and shareholder value. Despite a sum-of-the-parts valuation of $732.25/share, I target $1,100 within twelve months due to strong IPO pipelines and GS's industry dominance. Read the full article on Seeking Alpha
Narrative Update • Jun 04
GS: Future Returns Will Reflect AI IPO Mandates And Legal Risk Balancing
Analysts have lifted their price target for Goldman Sachs Group from $900 to $1,050, citing updated assumptions for the discount rate, revenue growth, profit margins and future P/E, which collectively support a higher fair value estimate. What's in the News Goldman Sachs is working with OpenAI and Morgan Stanley on a potential late 2026 IPO that analysts estimate could raise around US$60b and value OpenAI at up to US$1t, highlighting Goldman's role in high profile technology deals.Narrative Update • May 07
GS: Future Buybacks And AI Push Will Sustain An Overstretched Earnings Multiple
Analysts have modestly raised their fair value estimate for Goldman Sachs Group to $743.84 from $726.27, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that refine, rather than overhaul, their longer term outlook for the stock. What's in the News Anthropic, Blackstone, Hellman & Friedman and Goldman Sachs formed a new AI focused enterprise services firm that will work with companies to integrate the Claude model into core operations, backed by a consortium of large alternative asset managers with access to hundreds of portfolio companies (Key Developments).
Narrative Update • Apr 21
GS: Buybacks And Enforcement Resolution Will Support Measured Long Term Upside Potential
Analysts have nudged their price target for Goldman Sachs Group slightly lower to about $934 from around $945, citing updated assumptions for growth, margins and future P/E that point to a more conservative fair value and discount rate profile. What's in the News From January 1, 2026 to March 31, 2026, Goldman Sachs Group repurchased 5,400,000 shares, about 1.75% of its shares, for US$5,000m under its ongoing buyback program.Narrative Update • Apr 07
GS: Buybacks And Dividend Stability Will Support Measured Long Term Upside Potential
Analysts have trimmed their price target on Goldman Sachs Group slightly, with updated assumptions around fair value of $945.45, discount rate, revenue growth, profit margin, and a future P/E of 16.81 helping explain the step down from $959.75. What's in the News Golar LNG Limited has started a formal review of strategic alternatives and appointed Goldman Sachs International as its financial advisor for the process, with the bank acting exclusively for Golar in this role (Key Developments).Narrative Update • Mar 24
GS: Buybacks And Rising Dividend Stream Will Drive Future Upside Potential
Analysts have nudged their price target on Goldman Sachs Group slightly higher to $959.75 from $959.20, citing small adjustments to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Goldman Sachs & Co. LLC has been added as Co Lead Underwriter for a US$17.096 million fixed income offering by The Goldman Sachs Group, Inc.Narrative Update • Mar 09
GS: Buybacks And Rich Dividend Stream Will Drive Future Upside Potential
Analysts have nudged their price target for Goldman Sachs Group higher to $959.20. The revision reflects updated assumptions that include a lower discount rate and a slightly reduced future P/E multiple, while revenue growth and profit margin expectations remain unchanged.Narrative Update • Feb 23
GS: Buybacks And Dividend Policy Will Shape Future Share Price Balance
Analysts have raised their price target for Goldman Sachs Group from $930.80 to $959.20, citing updated assumptions around revenue growth, profit margins, and future P/E estimates. What's in the News Goldman Sachs Group, Inc.Analysis Article • Feb 10
Goldman Sachs Group (NYSE:GS) Will Pay A Larger Dividend Than Last Year At $4.50
The Goldman Sachs Group, Inc. ( NYSE:GS ) will increase its dividend from last year's comparable payment on the 30th of...Narrative Update • Feb 09
GS: Future Dividend Commitments Will Expose An Overstretched Earnings Multiple
Analysts have raised their price target for Goldman Sachs Group to US$726.27 from US$650.12, citing updated assumptions around the discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News The Goldman Sachs Group, Inc.Narrative Update • Jan 26
GS: Buybacks And Japan Deal Talks Will Balance Share Price Concerns
Analysts have raised their price target on Goldman Sachs Group to about US$931 from roughly US$813, pointing to updated assumptions for slightly higher revenue growth, a modestly stronger profit margin, and a marginally lower future P/E multiple. What's in the News Goldman Sachs updated investors on its share repurchase activity, completing the buyback of 11,696,675 shares, representing 3.68% of shares, for a total of US$7,999.81m under the program announced on April 14, 2025 (company filing).Analysis Article • Jan 19
Goldman Sachs Group's (NYSE:GS) Dividend Will Be Increased To $4.50
The Goldman Sachs Group, Inc.'s ( NYSE:GS ) dividend will be increasing from last year's payment of the same period to...Narrative Update • Jan 11
GS: Future Dealmaking And Buybacks Will Mask Overstretched Earnings Multiple
Analysts have raised their price target on Goldman Sachs Group from about US$500 to roughly US$650, citing updated assumptions that include a higher fair value estimate, a revised discount rate, and adjusted expectations for revenue growth, profit margins, and future P/E. What's in the News Goldman Sachs has secured exclusive rights to negotiate the purchase of Restaurant Brands International’s Burger King operations in Japan, in a potential transaction valued at around ¥70 billion (US$452 million), with negotiating rights granted by Affinity Equity Partners (Nikkei Asia).Narrative Update • Dec 27
GS: Future Deal Ambitions Will Mask Rising Concern Over Share Price Sustainability
Analysts have nudged their price target for Goldman Sachs Group higher to approximately 813 dollars from about 803 dollars. The change reflects slightly stronger long term revenue growth expectations, a modestly higher future earnings multiple, and a largely unchanged discount rate and profit margin outlook.Narrative Update • Dec 13
GS: Future Returns Will Reflect Improved Profitability And Balanced Expansion Plans
Analysts have raised their price target for Goldman Sachs Group from $815 to $900 per share, reflecting expectations for slightly slower revenue growth, improved long term profitability, and a higher justified valuation multiple. What's in the News Secured exclusive rights to negotiate the purchase of Restaurant Brands International’s Burger King operations in Japan in a potential deal valued at around ¥70 billion ($452 million), signaling a push into franchise backed food assets in Asia (Nikkei Asia) Repurchased 2,783,143 shares for roughly $2.0 billion in the quarter ended September 30, 2025, completing a $5.0 billion buyback totaling 8,096,675 shares, or about 2.53% of shares outstanding, under the April 14, 2025 authorization Goldman Sachs Asset Management is in late stage talks to acquire a controlling stake in Excel Sports Management at a valuation of about $1 billion, expanding its exposure to sports and entertainment related assets (Financial Times, via Reuters) Goldman Sachs & Co. LLC and InspereX LLC have been added as co lead underwriters on multiple fixed income offerings totaling roughly $29 million, underscoring the firm’s continued role in debt capital markets Valuation Changes Fair Value Estimate: increased from $815 to $900 per share, reflecting a modestly higher intrinsic valuation.Narrative Update • Nov 29
GS: Future Acquisitions And Expansions Will Balance Stability And Cautious Optimism
Analysts have revised their price target for Goldman Sachs Group upward, reflecting an increase to $802.53 per share. They cite stable profit margins and a modest upward adjustment to projected future earnings multiples as key factors in the update.Narrative Update • Nov 14
GS: Future Acquisitions And Partnerships Will Balance Risks And Opportunities
Analysts have slightly increased their price target for Goldman Sachs Group, raising the fair value estimate from $801.58 to $802.53. This update cites incremental improvements in revenue growth and profit margins, despite a higher discount rate.Narrative Update • Oct 31
GS: Future Deal Activity And Expanded Partnerships Will Influence Performance
Narrative Update: Goldman Sachs Group Analyst Price Target Raised Analysts have increased their price target for Goldman Sachs Group from $781.79 to $801.58, citing marginal improvements in profit margin and forward price-to-earnings estimates as key factors behind the adjustment. What's in the News Goldman Sachs is in late-stage discussions to acquire a majority stake in Excel Sports Management, a talent agency representing clients such as Tiger Woods and Caitlin Clark.Narrative Update • Oct 17
M&A Activity And Digital Transformation Will Shape Future Markets
Analysts have raised their price target for Goldman Sachs Group from $738.25 to $781.79. They cite an improved profit margin outlook, even though revenue growth projections have been slightly moderated.Analysis Article • Oct 16
The Goldman Sachs Group, Inc. Just Recorded A 10% EPS Beat: Here's What Analysts Are Forecasting Next
The Goldman Sachs Group, Inc. ( NYSE:GS ) just released its third-quarter report and things are looking bullish. It was...Narrative Update • Oct 03
M&A Activity And Digital Transformation Will Shape Future Markets
Analysts have raised their price target for Goldman Sachs Group from $710.58 to $738.25. This reflects improved outlooks for revenue growth and profit margins.Analysis Article • Aug 19
Goldman Sachs Group's (NYSE:GS) Shareholders Will Receive A Bigger Dividend Than Last Year
The Goldman Sachs Group, Inc.'s ( NYSE:GS ) dividend will be increasing from last year's payment of the same period to...Analysis Article • Aug 05
Goldman Sachs Group (NYSE:GS) Will Pay A Larger Dividend Than Last Year At $4.00
The Goldman Sachs Group, Inc. ( NYSE:GS ) will increase its dividend from last year's comparable payment on the 29th of...Analysis Article • Jul 21
Goldman Sachs Group's (NYSE:GS) Shareholders Will Receive A Bigger Dividend Than Last Year
The Goldman Sachs Group, Inc. ( NYSE:GS ) has announced that it will be increasing its dividend from last year's...Seeking Alpha • Apr 15
Why Goldman Sachs Stock Is Flat Despite Solid Early Trends In Earnings Growth
Summary Goldman Sachs' Q1 earnings show a 36% increase in net earnings despite modest revenue growth and higher operating expenses, indicating strong financial performance. CEO Solomon warns of a challenging Q2 due to a changing operating environment and potential recession impacts from the ongoing tariff war. The bank's revenue is now heavily reliant on market-facing segments, with deal-making shrinking significantly, and increasing risks overall from U.S.-China trade tensions. Despite uncertainties, Goldman Sachs' stock rose nearly 2%, and its $3 quarterly dividend supports portfolio diversification amid economic volatility. Read the full article on Seeking AlphaEarnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 68,373 | 20,115 | N/A | N/A | 10 |
| 12/31/2027 | 66,996 | 19,361 | N/A | N/A | 19 |
| 12/31/2026 | 63,892 | 18,072 | N/A | N/A | 19 |
| 3/31/2026 | 61,533 | 17,065 | -41,922 | -39,792 | N/A |
| 12/31/2025 | 59,396 | 16,244 | -47,218 | -45,154 | N/A |
| 9/30/2025 | 57,337 | 15,788 | 15,769 | 17,888 | N/A |
| 6/30/2025 | 54,794 | 14,707 | -24,879 | -22,852 | N/A |
| 3/31/2025 | 53,044 | 14,125 | -24,497 | -22,404 | N/A |
| 12/31/2024 | 52,164 | 13,476 | -15,303 | -13,212 | N/A |
| 9/30/2024 | 49,387 | 11,419 | -90,387 | -88,336 | N/A |
| 6/30/2024 | 48,895 | 10,520 | -77,902 | -75,810 | N/A |
| 3/31/2024 | 46,726 | 8,700 | -52,245 | -50,029 | N/A |
| 12/31/2023 | 45,226 | 7,856 | -14,903 | -12,587 | N/A |
| 9/30/2023 | 44,106 | 7,170 | -19,915 | -17,391 | N/A |
| 6/30/2023 | 43,756 | 8,246 | 21,146 | 24,153 | N/A |
| 3/31/2023 | 44,673 | 9,968 | 34,254 | 37,646 | N/A |
| 12/31/2022 | 44,650 | 10,711 | 4,960 | 8,708 | N/A |
| 9/30/2022 | 47,324 | 13,339 | 68,031 | 72,144 | N/A |
| 6/30/2022 | 49,297 | 15,668 | 12,868 | 16,874 | N/A |
| 3/31/2022 | 53,580 | 18,232 | -12,361 | -8,053 | N/A |
| 12/31/2021 | 58,982 | 21,116 | 1,631 | 6,298 | N/A |
| 9/30/2021 | 58,135 | 21,675 | -12,913 | -7,962 | N/A |
| 6/30/2021 | 55,205 | 19,631 | 61,168 | 66,234 | N/A |
| 3/31/2021 | 51,430 | 14,478 | 29,342 | 34,120 | N/A |
| 12/31/2020 | 41,462 | 8,890 | -24,844 | -18,535 | N/A |
| 9/30/2020 | 39,633 | 6,245 | 13,137 | 20,089 | N/A |
| 6/30/2020 | 37,162 | 4,802 | -13,256 | -5,073 | N/A |
| 3/31/2020 | 34,704 | 6,809 | 6,047 | 15,205 | N/A |
| 12/31/2019 | 35,481 | 7,871 | N/A | 23,868 | N/A |
| 9/30/2019 | 33,720 | 8,476 | N/A | -11,719 | N/A |
| 6/30/2019 | 34,334 | 9,139 | N/A | -26,807 | N/A |
| 3/31/2019 | 34,489 | 9,286 | N/A | -26,840 | N/A |
| 12/31/2018 | 35,942 | 9,841 | N/A | 16,564 | N/A |
| 9/30/2018 | 35,918 | 5,376 | N/A | -4,523 | N/A |
| 6/30/2018 | 35,598 | 4,954 | N/A | 3,504 | N/A |
| 3/31/2018 | 34,083 | 4,236 | N/A | -15,802 | N/A |
| 12/31/2017 | 32,073 | 3,661 | N/A | -20,489 | N/A |
| 9/30/2017 | 32,409 | 7,953 | N/A | -7,449 | N/A |
| 6/30/2017 | 32,251 | 8,022 | N/A | -14,739 | N/A |
| 3/31/2017 | 32,296 | 8,033 | N/A | 6,053 | N/A |
| 12/31/2016 | 30,608 | 7,066 | N/A | 6,494 | N/A |
| 9/30/2016 | 29,711 | 5,491 | N/A | 10,669 | N/A |
| 6/30/2016 | 28,404 | 4,721 | N/A | 16,516 | N/A |
| 3/31/2016 | 29,541 | 3,994 | N/A | -1,408 | N/A |
| 12/31/2015 | 33,820 | 5,546 | N/A | 9,481 | N/A |
| 9/30/2015 | 34,235 | 7,003 | N/A | 5,134 | N/A |
| 6/30/2015 | 35,761 | 7,816 | N/A | -5,035 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GS's forecast earnings growth (5.6% per year) is above the savings rate (3.5%).
Earnings vs Market: GS's earnings (5.6% per year) are forecast to grow slower than the US market (18.9% per year).
High Growth Earnings: GS's earnings are forecast to grow, but not significantly.
Revenue vs Market: GS's revenue (3.6% per year) is forecast to grow slower than the US market (13% per year).
High Growth Revenue: GS's revenue (3.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: GS's Return on Equity is forecast to be low in 3 years time (16.8%).
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/22 16:23 |
| End of Day Share Price | 2026/06/22 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
The Goldman Sachs Group, Inc. is covered by 42 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Stephen Biggar | Argus Research Company |
| Jason Goldberg | Barclays |
| Eoin Mullany | Berenberg |