BMO
Bank of Montreal
BMO has slightly lower modeled downside risk, despite its lower overall score.
GS
The Goldman Sachs Group, Inc.
GS has the edge over BMO overall, supported by stronger fundamentals and stronger modeled upside.
BMO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
BMO's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like BMO.
GS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| N/A | |
| N/A |
GS's revenue and profitability are currently strong. Free cash flow and net leverage aren't meaningful measures for financial services companies like GS.
BMO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.3x | $75.31 | -56% |
| Fair | 13x | $118 | -32% |
| Expensive | 17x | $151 | -13% |
| Current | 19x | $173 | — |
Historical ranges are pointers, not guarantees.
BMO's PE is 19x, but its earnings don't support one, so it isn't a reliable read right now.
GS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.6x | $528 | -42% |
| Current | 13x | $914 | — |
| Forward | 13x | $914 | — |
| Fair | 14x | $940 | +2.9% |
| Expensive | 17x | $1,214 | +33% |
Historical ranges are pointers, not guarantees.
GS has the edge over BMO in the historical PE scenario, which offers more potential upside but is not a forecast.
BMO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for BMO, with profitability improving.
GS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for GS, with profitability improving. However, they disagree widely on these estimates.
BMO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $9.12 | +20% |
| Q1 2026 | $8.42 | +13% |
| Q4 2025 | $8.03 | +20% |
| Q3 2025 | $8.04 | +32% |
| Q2 2025 | $7.57 | +30% |
| Q1 2025 | $7.47 | +48% |
| Q4 2024 | $6.69 | +71% |
| Q3 2024 | $6.07 | -14% |
GS has the stronger earnings trend. Trailing diluted EPS is up 20% for BMO versus GS up 41%.
GS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $72.35 | +4% |
| Q3 2026 | $69.58 | +41% |
| Q2 2026 | $64.82 | +43% |
| Q1 2026 | $54.75 | +27% |
| Q4 2025 | $51.32 | +27% |
| Q3 2025 | $49.22 | +44% |
| Q2 2025 | $45.37 | +45% |
| Q1 2025 | $43.08 | +68% |
| Q4 2024 | $40.54 | +77% |
GS's earnings per share have climbed steadily: $69.58 over the past year, up 41% from the year before, and higher year over year for 10 quarters in a row. Its recent earnings include one-off gains.
BMO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $13.6B | +0.2% |
| Q1 2026 | $13.6B | -5.5% |
| Q4 2025 | $13.6B | -2.4% |
| Q3 2025 | $13.5B | -6.2% |
| Q2 2025 | $13.5B | -1.7% |
| Q1 2025 | $14.4B | +8.8% |
| Q4 2024 | $13.9B | +4% |
| Q3 2024 | $14.4B | +14% |
GS has the stronger quarterly revenue trend. Revenue is up 0.2% for BMO versus up 23% for GS.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 18% | +4.6 points |
| Q1 2026 | 17% | +3.4 points |
| Q4 2025 | 16% | +0.5 points |
| Q3 2025 | 16% | +4.1 points |
| Q2 2025 | 14% | +1.2 points |
| Q1 2025 | 14% | +5 points |
| Q4 2024 | 15% | +3.8 points |
| Q3 2024 | 12% | +0.9 points |
BMO's operating margin was 18% last quarter, up 4.6 points from the same quarter a year ago.
GS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $18.7B | +23% |
| Q2 2026 | $20.3B | +39% |
| Q1 2026 | $17.2B | +14% |
| Q4 2025 | $13.5B | -3% |
| Q3 2025 | $15.2B | +20% |
| Q2 2025 | $14.6B | +15% |
| Q1 2025 | $15.1B | +6% |
| Q4 2024 | $13.9B | +23% |
GS's revenue is growing: $18.7B last quarter, up 23% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 37% | +2 points |
| Q2 2026 | 42% | +8.1 points |
| Q1 2026 | 38% | +0.2 points |
| Q4 2025 | 44% | +5.6 points |
| Q3 2025 | 36% | +4.1 points |
| Q2 2025 | 34% | +3.2 points |
| Q1 2025 | 37% | +0.6 points |
| Q4 2024 | 38% | +18 points |
GS's operating margin was 37% last quarter, up 2 points from the same quarter a year ago.
BMO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $6.1B | +$8.6B |
| Q1 2026 | $995.5M | -68% |
| Q4 2025 | $8.6B | +187% |
| Q3 2025 | -$3.2B | -386% |
| Q2 2025 | -$2.6B | -199% |
| Q1 2025 | $3.2B | -71% |
| Q4 2024 | $3B | +42% |
| Q3 2024 | $1.1B | -84% |
BMO has the stronger cash trend. Its trailing FCF is down 25% versus its history, compared with GS at down 278%.
GS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.7B | +72% |
| Q2 2026 | $5.6B | +7.8% |
| Q1 2026 | -$32.4B | +$5.3B |
| Q4 2025 | -$16.8B | -136% |
| Q3 2025 | $2.1B | +$40.6B |
| Q2 2025 | $5.2B | -6.8% |
| Q1 2025 | -$37.7B | -$9.2B |
| Q4 2024 | $46.2B | +$75.1B |
GS's free cash flow was −$40B over the past year, against $15.8B the year before. Free cash flow isn't a meaningful measure for financial services companies like GS.
BMO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -2.2% | -16.3M shares |
| 3 years | -0.4% | -2.6M shares |
| 5 years | +9.6% | +62.1M shares |
| Available history | +11% | +69.7M shares |
BMO has 710M diluted shares, down 2.2% from a year ago, with $4B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $815.5M |
| Q1 2026 | $1.6B |
| Q4 2025 | $972.3M |
| Q3 2025 | $625M |
| Q2 2025 | $677M |
| Q1 2025 | $337.5M |
| Q4 2024 | — |
| Q3 2024 | — |
BMO spent $4B buying back its own shares over the past year, about four times what it spent the year before.
GS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -3.8M shares |
| 1 year | -4.4% | -13.9M shares |
| 3 years | -12% | -42.8M shares |
| 5 years | -15% | -52.8M shares |
| Available history | -20% | -74.4M shares |
GS has the edge over BMO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3B |
| Q2 2026 | $4B |
| Q1 2026 | $5B |
| Q4 2025 | $3B |
| Q3 2025 | $2B |
| Q2 2025 | $3B |
| Q1 2025 | $4.4B |
| Q4 2024 | $2B |
GS spent $15B buying back its own shares over the past year, up 32% from the year before.
BMO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 6.6x | High |
| Q1 2026 | 4.3x | High |
| Q4 2025 | 25.1x | High |
| Q3 2025 | 24.2x | High |
| Q2 2025 | 25.0x | High |
| Q1 2025 | 24.7x | High |
| Q4 2024 | 26.2x | High |
| Q3 2024 | 27.6x | High |
BMO's net debt is about 6.6 years of its operating earnings (EBITDA), down from more than 20 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BMO.
GS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -5.4x | Net Cash |
| Q2 2026 | -6.1x | Net Cash |
| Q1 2026 | -6.7x | Net Cash |
| Q4 2025 | -6.4x | Net Cash |
| Q3 2025 | -3.5x | Net Cash |
| Q2 2025 | -3.1x | Net Cash |
| Q1 2025 | -3.9x | Net Cash |
| Q4 2024 | -4.7x | Net Cash |
GS has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like GS.
BMO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.6 | Neutral |
| Stochastic | 44.0 | Neutral |
BMO's weekly RSI is 58 (neutral) and its Stochastic is 44 (neutral).
GS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.5 | Neutral |
| Stochastic | 16.3 | Oversold |
GS's weekly RSI is 45 (neutral) and its Stochastic is 16 (oversold).
BMO PE vs Financial Services Sector
| Metric | BMO | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 13x | 46% above |
| PE % | 94 | 63 | 31 pts above |
BMO is trading at 19x earnings, a 46% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
GS PE vs Financial Services Sector
| Metric | GS | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 0.8% above |
| PE % | 46 | 63 | 17 pts below |
GS has the edge over BMO on valuation relative to its sector.
BMO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $169.0 | 2.3% above |
| 20 week MA | $174.1 | 0.7% below |
| 50 week MA | $156.8 | 10% above |
| 100 week MA | $132.9 | 30% above |
| 200 week MA | $111.4 | 55% above |
BMO has the edge over GS on trend strength, trading above more of its moving averages.
GS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $895.5 | 2% above |
| 20 week MA | $977.4 | 6.5% below |
| 50 week MA | $945.4 | 3.4% below |
| 100 week MA | $804.5 | 14% above |
| 200 week MA | $602.7 | 52% above |
GS's trend is mixed: it's above three of its five weekly moving averages, and 52% above its 200-week average.
BMO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $77.2 | $75.9 | -1.7% |
| 2021 | $75.9 | $105.9 | +40% |
| 2022 | $105.9 | $90.3 | -15% |
| 2023 | $90.3 | $98.9 | +9.6% |
| 2024 | $98.9 | $97.1 | -1.9% |
| 2025 | $97.1 | $130.9 | +35% |
| 2026 YTD | $130.9 | $172.9 | +32% |
BMO has the edge over GS on returns for 2026, with the stronger performance.
GS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $230.7 | $256.2 | +11% |
| 2021 | $256.2 | $385.0 | +50% |
| 2022 | $385.0 | $345.5 | -10% |
| 2023 | $345.5 | $385.8 | +12% |
| 2024 | $385.8 | $576.2 | +49% |
| 2025 | $576.2 | $907.0 | +57% |
| 2026 YTD | $907.0 | $913.6 | +0.7% |
GS has finished higher in five of the last six years, two of them by more than 50%. It's up 0.7% so far in 2026.