GS
The Goldman Sachs Group, Inc.
GS has the edge over HBNC overall, supported by stronger fundamentals and stronger valuation.
HBNC
Horizon Bancorp, Inc.
HBNC offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
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.
HBNC Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Strong | |
| N/A | |
| N/A |
HBNC's profitability is currently strong. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like HBNC.
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 HBNC in the historical PE scenario, which offers more potential upside but is not a forecast.
HBNC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.8x | $13.59 | -36% |
| Forward | 9.6x | $21.19 | — |
| Fair | 10x | $20.01 | -5.6% |
| Current | 11x | $21.19 | — |
| Expensive | 19x | $38.49 | +82% |
Historical ranges are pointers, not guarantees.
HBNC's PE is in its fair range at 11x. If earnings grow as analysts expect, today's price would be 9.6x next year's earnings.
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.
HBNC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
HBNC has the edge over GS on the outlook, with more favorable valuation expectations.
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% |
HBNC has the stronger earnings trend. Trailing diluted EPS is up 41% for GS versus HBNC up 326%.
HBNC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.20 | +10% |
| Q2 2025 | $1.17 | +172% |
| Q1 2025 | $1.02 | +89% |
| Q4 2024 | $0.80 | +25% |
| Q3 2024 | $0.47 | -72% |
| Q2 2024 | $0.43 | -77% |
| Q1 2024 | $0.54 | -73% |
| Q4 2023 | $0.64 | -70% |
| Q3 2023 | $1.70 | -21% |
HBNC earned $2.00 per share over the past year, about four times what it earned the year before.
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 stronger quarterly revenue trend. Revenue is up 23% for GS versus up 16% for HBNC.
| 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.
HBNC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $75.5M | +14% |
| Q1 2026 | $73.5M | +6.9% |
| Q4 2025 | $74.9M | +210% |
| Q2 2025 | $66.3M | +19% |
| Q1 2025 | $68.8M | +29% |
| Q4 2024 | $24.2M | +11% |
| Q3 2024 | $58.4M | +8.3% |
| Q2 2024 | $55.8M | -2.4% |
HBNC's revenue has grown year over year for eight quarters in a row: $77M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 44% | N/A |
| Q2 2026 | 41% | +3.9 points |
| Q1 2026 | 44% | +3.2 points |
| Q4 2025 | 44% | +134 points |
| Q2 2025 | 37% | +8.4 points |
| Q1 2025 | 41% | +12 points |
| Q4 2024 | -91% | -4.5 points |
| Q3 2024 | 31% | -1.4 points |
HBNC has the edge over GS on profitability, with a higher operating margin.
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 |
HBNC has the stronger cash trend. Its trailing FCF is up 52% versus its history, compared with GS at down 278%.
HBNC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $31.3M | +73% |
| Q1 2026 | $20.7M | +47% |
| Q4 2025 | $32.6M | +$82.8M |
| Q2 2025 | $18.1M | +20% |
| Q1 2025 | $14.1M | +163% |
| Q4 2024 | -$50.2M | -468% |
| Q3 2024 | $31M | +8.1% |
| Q2 2024 | $15.1M | +7.1% |
HBNC's free cash flow was $111M over the past year, about nine times what it generated the year before. Free cash flow isn't a meaningful measure for financial services companies like HBNC.
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 HBNC 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.
HBNC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +53.7K shares |
| 1 year | +17% | +7.3M shares |
| 3 years | +17% | +7.6M shares |
| 5 years | +16% | +7.2M shares |
| Available history | +14% | +6.3M shares |
HBNC has 51M diluted shares, up 17% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
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 HBNC on leverage, with a lower net debt burden relative to earnings.
HBNC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.5x | Net Cash |
| Q2 2025 | -2.4x | Net Cash |
| Q1 2025 | -3.4x | Net Cash |
| Q4 2024 | 24.9x | High |
| Q3 2024 | -5.7x | Net Cash |
| Q2 2024 | -3.6x | Net Cash |
| Q1 2024 | -6.0x | Net Cash |
| Q4 2023 | 16.6x | High |
HBNC has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like HBNC.
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).
HBNC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 66.5 | Neutral |
| Stochastic | 76.2 | Neutral |
HBNC's weekly RSI is 67 (neutral) and its Stochastic is 76 (neutral).
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.
HBNC PE vs Financial Services Sector
| Metric | HBNC | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 19% below |
| PE % | 60 | 63 | 3 pts below |
HBNC has the edge over GS on valuation relative to its sector.
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.
HBNC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.1 | 5.6% above |
| 20 week MA | $20.0 | 6% above |
| 50 week MA | $18.7 | 14% above |
| 100 week MA | $17.2 | 23% above |
| 200 week MA | $15.0 | 41% above |
HBNC has the edge over GS on trend strength, trading above more of its moving averages.
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.
HBNC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $19.0 | $15.6 | -18% |
| 2021 | $15.6 | $20.7 | +33% |
| 2022 | $20.7 | $15.2 | -26% |
| 2023 | $15.2 | $14.3 | -6% |
| 2024 | $14.3 | $16.1 | +12% |
| 2025 | $16.1 | $17.5 | +8.5% |
| 2026 YTD | $17.5 | $21.2 | +21% |
HBNC has the edge over GS on returns for 2026, with the stronger performance.