BSBR
Banco Santander (Brasil) S.A.
BSBR offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
GS
The Goldman Sachs Group, Inc.
GS has the edge over BSBR overall, supported by lower modeled downside and stronger modeled upside.
BSBR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
BSBR's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BSBR.
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.
BSBR PE Valuation
BSBR has no meaningful PE right now: it lost money over the past year.
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's PE is 13x, but its earnings don't support one, so it isn't a reliable read right now.
BSBR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Stable | |
| Weakening | |
| Limited | |
| Low |
Analysts expect BSBR's profitability to weaken, with its earnings and revenue holding steady. However, they disagree widely on these estimates.
GS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
GS has the edge over BSBR on the outlook, with more favorable earnings and revenue expectations.
BSBR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2025 | $0.51 | +70% |
| Q2 2025 | $0.12 | -56% |
| Q1 2025 | $0.16 | -30% |
| Q4 2024 | $0.16 | -30% |
| Q3 2024 | $0.30 | +20% |
| Q2 2024 | $0.27 | +3.8% |
| Q1 2024 | $0.23 | -28% |
| Q4 2023 | $0.23 | -32% |
BSBR has the stronger earnings trend. Trailing diluted EPS is up 70% for BSBR 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.
BSBR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $7B | +13% |
| Q1 2026 | $6.9B | +6.7% |
| Q4 2025 | $7.6B | +20% |
| Q3 2025 | $42.9B | +611% |
| Q2 2025 | $6.2B | +18% |
| Q1 2025 | $6.4B | +17% |
| Q4 2024 | $6.3B | +11% |
| Q3 2024 | $6B | +9.4% |
BSBR's revenue has grown year over year for eight quarters in a row: $7B last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 8.7% | -2.1 points |
| Q1 2026 | 12% | +6.5 points |
| Q4 2025 | 12% | -1 points |
| Q3 2025 | 11% | -5.2 points |
| Q2 2025 | 5.7% | -12 points |
| Q1 2025 | 13% | -1.5 points |
| Q4 2024 | 12% | +3.4 points |
| Q3 2024 | 16% | +4.6 points |
BSBR's operating margin was 8.7% last quarter, up 3 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 has the edge over BSBR on profitability, with a higher operating margin.
BSBR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $2.9B | +$5B |
| Q1 2026 | $7B | +21% |
| Q4 2025 | -$3.8B | +$3.9B |
| Q3 2025 | $444.5M | -91% |
| Q2 2025 | -$2.1B | -190% |
| Q1 2025 | $5.8B | +$9.7B |
| Q4 2024 | -$7.7B | -$5.3B |
| Q3 2024 | $5B | -53% |
BSBR has the edge over GS on cash generation, producing positive trailing cash flow while its opponent burns cash.
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.
BSBR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -2.2M shares |
| 1 year | +0.2% | +16.6M shares |
| 3 years | +0.6% | +43.1M shares |
| 5 years | 0% | -2.8M shares |
| Available history | 0% | -2.8M shares |
BSBR has 7.5B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
BSBR hasn't bought back shares in the past year.
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 BSBR 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.
BSBR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | 24.0x | High |
| Q2 2025 | -2.2x | Net Cash |
| Q1 2025 | -3.6x | Net Cash |
| Q4 2024 | -3.2x | Net Cash |
| Q3 2024 | 1.4x | Healthy |
| Q2 2024 | 3.1x | Elevated |
| Q1 2024 | 4.1x | High |
| Q4 2023 | -4.0x | Net Cash |
BSBR's net debt is more than 20 years of its operating earnings (EBITDA), up from 1.4 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BSBR.
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.
BSBR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 18.6 | Oversold |
BSBR's weekly RSI is 43 (neutral) and its Stochastic is 19 (oversold).
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).
BSBR PE vs Financial Services Sector
BSBR has no meaningful PE right now: it lost money over the past year.
GS PE vs Financial Services Sector
| Metric | GS | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 13x | 0.8% above |
| PE % | 46 | 63 | 17 pts below |
GS is trading at 13x earnings, in line with the Financial Services sector's median of 13x, though its earnings don't support one.
BSBR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $5.27 | 4.7% below |
| 20 week MA | $5.49 | 8.6% below |
| 50 week MA | $5.79 | 13% below |
| 100 week MA | $5.40 | 7% below |
| 200 week MA | $5.46 | 8.1% below |
BSBR is in a downtrend: it's below all five of its weekly moving averages, and 8.1% below its 200-week average.
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 has the edge over BSBR on trend strength, trading above more of its moving averages.
BSBR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.4 | $8.29 | -27% |
| 2021 | $8.29 | $5.36 | -35% |
| 2022 | $5.36 | $5.47 | +2.1% |
| 2023 | $5.47 | $6.55 | +20% |
| 2024 | $6.55 | $3.87 | -41% |
| 2025 | $3.87 | $6.16 | +59% |
| 2026 YTD | $6.16 | $5.02 | -19% |
BSBR has finished lower in three of the last six years. It's down 19% so far in 2026.
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 the edge over BSBR on returns for 2026, with the stronger performance.