FNWD
Finward Bancorp
FNWD offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
GS
The Goldman Sachs Group, Inc.
GS has a slight edge over FNWD overall, supported by lower modeled downside and stronger modeled upside.
FNWD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
FNWD'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 FNWD.
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.
FNWD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8x | $18.26 | -58% |
| Fair | 10x | $22.94 | -47% |
| Forward | 14x | $43.66 | — |
| Expensive | 19x | $42.01 | -3.8% |
| Current | 25x | $43.66 | — |
Historical ranges are pointers, not guarantees.
FNWD's PE is 25x, 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 FNWD in the historical PE scenario, which offers more potential upside but is not a forecast.
FNWD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
FNWD has the edge over GS on the outlook, with more favorable valuation expectations.
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.
FNWD Earnings Per Share
FNWD and GS do not have enough comparable growth data to identify a winner.
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.
FNWD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $17.6M | +5.7% |
| Q1 2026 | $17.5M | +13% |
| Q4 2025 | $16.5M | +1.1% |
| Q3 2025 | $17.4M | +17% |
| Q2 2025 | $16.6M | +14% |
| Q1 2025 | $15.5M | -38% |
| Q4 2024 | $16.3M | +5.7% |
| Q3 2024 | $14.9M | -4.2% |
FNWD's revenue is recovering but still below its 2024 peak: $18M last quarter, up 5.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 14% | +1.3 points |
| Q1 2026 | 15% | +11 points |
| Q4 2025 | 11% | -5.3 points |
| Q3 2025 | 21% | +18 points |
| Q2 2025 | 13% | +12 points |
| Q1 2025 | 4% | -37 points |
| Q4 2024 | 16% | +8.9 points |
| Q3 2024 | 2.7% | -8.9 points |
FNWD's operating margin was 14% last quarter, up 1.3 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 has the edge over FNWD on sales, with more consistent year-over-year improvement.
| 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 FNWD on profitability, with a higher operating margin.
FNWD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $4.5M | +0.2% |
| Q1 2026 | $3.5M | +$7.5M |
| Q4 2025 | $7.5M | -29% |
| Q3 2025 | $1M | +$5.3M |
| Q2 2025 | $4.5M | +302% |
| Q1 2025 | -$4M | -$3.3M |
| Q4 2024 | $10.6M | +617% |
| Q3 2024 | -$4.2M | -186% |
FNWD 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.
FNWD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +16.8K shares |
| 1 year | +0.5% | +22.6K shares |
| 3 years | +1.4% | +60.4K shares |
| 5 years | +24% | +841K shares |
| Available history | +25% | +867K shares |
FNWD has 4M diluted shares, up 0.5% from a year ago.
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 FNWD 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.
FNWD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 3.0x | Elevated |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 1.9x | Healthy |
| Q3 2025 | 2.3x | Moderate |
| Q2 2025 | 3.3x | Elevated |
| Q1 2025 | 3.5x | Elevated |
| Q4 2024 | 2.3x | Moderate |
| Q3 2024 | 3.2x | Elevated |
FNWD's net debt is about 3.0 years of its operating earnings (EBITDA), down from 3.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like FNWD.
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 the edge over FNWD on leverage, with a lower net debt burden relative to earnings.
FNWD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.1 | Neutral |
| Stochastic | 56.1 | Neutral |
FNWD's weekly RSI is 62 (neutral) and its Stochastic is 56 (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).
FNWD PE vs Financial Services Sector
| Metric | FNWD | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 13x | 89% above |
| PE % | 94 | 63 | 31 pts above |
FNWD is trading at 25x earnings, a 89% 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 FNWD on valuation relative to its sector.
FNWD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $42.9 | 1.8% above |
| 20 week MA | $42.4 | 3.1% above |
| 50 week MA | $38.3 | 14% above |
| 100 week MA | $34.1 | 28% above |
| 200 week MA | $30.2 | 45% above |
FNWD 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.
FNWD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $45.9 | $35.4 | -23% |
| 2021 | $35.4 | $49.6 | +40% |
| 2022 | $49.6 | $36.5 | -26% |
| 2023 | $36.5 | $25.2 | -31% |
| 2024 | $25.2 | $28.8 | +14% |
| 2025 | $28.8 | $36.9 | +28% |
| 2026 YTD | $36.9 | $43.7 | +18% |
FNWD 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.