GS
The Goldman Sachs Group, Inc.
GS has the edge over HGBL overall, supported by stronger fundamentals and lower modeled downside.
HGBL
Heritage Global Inc.
HGBL's outlook is improving, though it still trails on the overall score.
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.
HGBL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| N/A | |
| N/A |
HGBL's revenue is currently stable, but its profitability is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like HGBL.
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.
HGBL PE Valuation
HGBL has no meaningful PE right now: it lost money over the past year.
GS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
GS has the edge over HGBL on the outlook, with more favorable revenue expectations.
HGBL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect HGBL's earnings to grow and its profitability to improve, with its revenue holding steady.
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 has the edge over HGBL on earnings quality, reporting a profit while its opponent remains loss making.
HGBL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.14 | — |
| Q3 2026 | -$0.41 | -556% |
| Q2 2026 | -$0.42 | -520% |
| Q1 2026 | $0.09 | -25% |
| Q4 2025 | $0.10 | -29% |
| Q3 2025 | $0.09 | -68% |
| Q2 2025 | $0.10 | -67% |
| Q1 2025 | $0.12 | -60% |
| Q4 2024 | $0.14 | -58% |
HGBL has swung to a loss: it lost $0.41 per share over the past year, after a profit 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 edge over HGBL 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 HGBL on profitability, with a higher operating margin.
HGBL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $14.6M | +28% |
| Q2 2026 | $12.3M | -14% |
| Q1 2026 | $12.7M | -5.5% |
| Q4 2025 | $11.9M | +10% |
| Q3 2025 | $11.4M | +9.1% |
| Q2 2025 | $14.3M | +19% |
| Q1 2025 | $13.5M | +11% |
| Q4 2024 | $10.8M | -30% |
HGBL's revenue has held roughly level: $15M last quarter, up 28% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.2% | -4.3 points |
| Q2 2026 | -170% | -186 points |
| Q1 2026 | 7.9% | -2.5 points |
| Q4 2025 | 6.5% | -7.2 points |
| Q3 2025 | 11% | -2.8 points |
| Q2 2025 | 16% | -14 points |
| Q1 2025 | 10% | -11 points |
| Q4 2024 | 14% | -16 points |
HGBL's operating margin was 7.2% last quarter, down 4.3 points from the same quarter a year ago.
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.
HGBL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6M | +$2.8M |
| Q2 2026 | $1.4M | -18% |
| Q1 2026 | -$3.2M | +$1.6M |
| Q4 2025 | $971K | +$6.5M |
| Q3 2025 | -$233K | -104% |
| Q2 2025 | $1.7M | -71% |
| Q1 2025 | -$4.8M | -390% |
| Q4 2024 | -$5.5M | -1394% |
HGBL has the edge over GS on cash generation, producing positive trailing cash flow while its opponent burns cash.
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 HGBL 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.
HGBL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.3% | +443K shares |
| 1 year | -0.4% | -134K shares |
| 3 years | -6.8% | -2.6M shares |
| 5 years | -5.4% | -2M shares |
| Available history | +20% | +5.8M shares |
HGBL has 35M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $134,000 |
| Q1 2026 | $141,000 |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $1.6M |
| Q1 2025 | $1M |
| Q4 2024 | $1.1M |
HGBL spent $275,000 buying back its own shares over the past year, down 93% from the year before.
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.
HGBL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -3.3x | Net Cash |
| Q3 2025 | -2.2x | Net Cash |
| Q2 2025 | -2.2x | Net Cash |
| Q1 2025 | -1.7x | Net Cash |
| Q4 2024 | -2.3x | Net Cash |
| Q3 2024 | -2.1x | Net Cash |
| Q2 2024 | -1.8x | Net Cash |
HGBL has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like HGBL.
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).
HGBL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.1 | Neutral |
| Stochastic | 48.5 | Neutral |
HGBL's weekly RSI is 41 (neutral) and its Stochastic is 49 (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.
HGBL PE vs Financial Services Sector
| Metric | HGBL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
HGBL has no meaningful PE right now: it lost money over the past year.
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 HGBL on trend strength, trading above more of its moving averages.
HGBL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.26 | 7.9% below |
| 20 week MA | $1.24 | 6.5% below |
| 50 week MA | $1.28 | 9.4% below |
| 100 week MA | $1.61 | 28% below |
| 200 week MA | $2.14 | 46% below |
HGBL is in a downtrend: it's below all five of its weekly moving averages, and 46% below its 200-week average.
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 HGBL on returns for 2026, with the stronger performance.
HGBL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $0.90 | $3.13 | +248% |
| 2021 | $3.13 | $1.50 | -52% |
| 2022 | $1.50 | $2.37 | +58% |
| 2023 | $2.37 | $2.78 | +17% |
| 2024 | $2.78 | $1.72 | -38% |
| 2025 | $1.72 | $1.26 | -27% |
| 2026 YTD | $1.26 | $1.16 | -7.9% |
HGBL's yearly returns have swung widely, from +248% in 2020 to −52% in 2021. It's down 7.9% so far in 2026.