GS
The Goldman Sachs Group, Inc.
GS's outlook is improving, though it still trails on the overall score.
INDB
Independent Bank Corp.
INDB has the edge over GS overall, supported by stronger fundamentals and stronger valuation.
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.
INDB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
INDB's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like INDB.
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.
INDB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $67.21 | -20% |
| Forward | 10x | $84.12 | — |
| Current | 12x | $84.12 | — |
| Fair | 15x | $100 | +19% |
| Expensive | 18x | $122 | +44% |
Historical ranges are pointers, not guarantees.
INDB has the edge over GS in the historical PE scenario, which offers more potential upside but is not a forecast.
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.
INDB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect INDB'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 INDB on earnings, with more consistent year-over-year improvement.
INDB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.09 | +20% |
| Q3 2026 | $6.74 | +64% |
| Q2 2026 | $5.53 | +25% |
| Q1 2026 | $5.03 | +13% |
| Q4 2025 | $4.44 | -1.8% |
| Q3 2025 | $4.11 | -11% |
| Q2 2025 | $4.43 | -11% |
| Q1 2025 | $4.44 | -14% |
| Q4 2024 | $4.52 | -17% |
INDB earned $6.74 per share over the past year, up 64% from 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'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.
INDB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $261.9M | +7.5% |
| Q2 2026 | $253.3M | +39% |
| Q1 2026 | $252.7M | +42% |
| Q4 2025 | $253.9M | +44% |
| Q3 2025 | $243.7M | +39% |
| Q2 2025 | $181.8M | +6.8% |
| Q1 2025 | $178M | +6.4% |
| Q4 2024 | $176.9M | -0.2% |
INDB has the edge over GS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 45% | +27 points |
| Q2 2026 | 42% | +6 points |
| Q1 2026 | 41% | +9.2 points |
| Q4 2025 | 37% | +1.8 points |
| Q3 2025 | 18% | -13 points |
| Q2 2025 | 36% | -2.8 points |
| Q1 2025 | 32% | -5.2 points |
| Q4 2024 | 36% | -4.5 points |
INDB 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 |
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.
INDB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $99.6M | +100% |
| Q2 2026 | $67M | -35% |
| Q1 2026 | $111.6M | +887% |
| Q4 2025 | $75.5M | +107% |
| Q3 2025 | $49.7M | -23% |
| Q2 2025 | $102.5M | +66% |
| Q1 2025 | $11.3M | -76% |
| Q4 2024 | $36.5M | -23% |
INDB 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 301M diluted shares, down 4.4% from a year ago, with $15B in buybacks over the past year.
| 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.
INDB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.7% | -820K shares |
| 1 year | -5.4% | -2.7M shares |
| 3 years | +7% | +3.1M shares |
| 5 years | +43% | +14.2M shares |
| Available history | +37% | +12.8M shares |
INDB has the edge over GS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $57.4M |
| Q2 2026 | $75M |
| Q1 2026 | $63.3M |
| Q4 2025 | $37.5M |
| Q3 2025 | $23.4M |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
INDB spent $233M buying back its own shares over the past year, about 10 times what it spent 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 the edge over INDB on leverage, with a lower net debt burden relative to earnings.
INDB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 1.0x | Very low |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 0.4x | Very low |
| Q3 2025 | 1.9x | Healthy |
| Q2 2025 | 1.7x | Healthy |
| Q1 2025 | 2.1x | Moderate |
| Q4 2024 | -0.4x | Net Cash |
INDB's net debt is less than a year of its operating earnings (EBITDA), down from 1.9 years a year ago. Net leverage isn't a meaningful measure for financial services companies like INDB.
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).
INDB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.1 | Neutral |
| Stochastic | 66.4 | Neutral |
INDB's weekly RSI is 56 (neutral) and its Stochastic is 66 (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.
INDB PE vs Financial Services Sector
| Metric | INDB | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 4.1% below |
| PE % | 31 | 63 | 32 pts below |
INDB 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.
INDB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $81.6 | 3.1% above |
| 20 week MA | $82.9 | 1.4% above |
| 50 week MA | $80.2 | 4.9% above |
| 100 week MA | $72.9 | 15% above |
| 200 week MA | $65.4 | 29% above |
INDB 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.
INDB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $83.8 | $74.0 | -12% |
| 2021 | $74.0 | $79.8 | +7.9% |
| 2022 | $79.8 | $84.8 | +6.2% |
| 2023 | $84.8 | $65.8 | -22% |
| 2024 | $65.8 | $65.0 | -1.2% |
| 2025 | $65.0 | $75.7 | +16% |
| 2026 YTD | $75.7 | $84.1 | +11% |
INDB has the edge over GS on returns for 2026, with the stronger performance.