GS
The Goldman Sachs Group, Inc.
GS has the edge over ITUB overall, supported by lower modeled downside and stronger fundamentals.
ITUB
Itaú Unibanco Holding S.A.
ITUB 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.
ITUB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
ITUB'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 ITUB.
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.
ITUB PE Valuation
ITUB 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 ITUB on the outlook, with more favorable earnings and revenue expectations.
ITUB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect ITUB's profitability to improve, with its earnings and 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 ITUB on earnings, with more consistent year-over-year improvement.
ITUB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.73 | +1.4% |
| Q1 2026 | $0.71 | -1.4% |
| Q4 2025 | $0.71 | 0% |
| Q3 2025 | $0.74 | +8.8% |
| Q2 2025 | $0.72 | +7.5% |
| Q1 2025 | $0.72 | +11% |
| Q4 2024 | $0.71 | +18% |
| Q3 2024 | $0.68 | +17% |
ITUB earned $0.73 per share over the past year, up 1.4% 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 has the edge over ITUB 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 ITUB on profitability, with a higher operating margin.
ITUB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $17.8B | -2.6% |
| Q1 2026 | $17.3B | +1.5% |
| Q4 2025 | $16.4B | +12% |
| Q3 2025 | $17.2B | +28% |
| Q2 2025 | $18.2B | +21% |
| Q1 2025 | $17B | +22% |
| Q4 2024 | $14.7B | +10% |
| Q3 2024 | $13.5B | -6.1% |
ITUB's revenue is growing: $17.8B last quarter, down 2.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 14% | +4.8 points |
| Q1 2026 | 13% | -0.4 points |
| Q4 2025 | 15% | -0.7 points |
| Q3 2025 | 14% | +1 points |
| Q2 2025 | 9.5% | -5.1 points |
| Q1 2025 | 14% | -2.1 points |
| Q4 2024 | 16% | +2.4 points |
| Q3 2024 | 13% | +0.2 points |
ITUB's operating margin was 14% last quarter, up 4.8 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.
ITUB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $12.8B | +489% |
| Q1 2026 | -$1.1B | +$1.4B |
| Q4 2025 | $8.1B | +762% |
| Q3 2025 | $13.3B | +$20B |
| Q2 2025 | $2.2B | +$2.6B |
| Q1 2025 | -$2.4B | -129% |
| Q4 2024 | $935.4M | +$4.2B |
| Q3 2024 | -$6.8B | -$6.2B |
ITUB 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 ITUB 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.
ITUB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +27.7M shares |
| 1 year | +2.5% | +273M shares |
| 3 years | +13% | +1.3B shares |
| 5 years | +13% | +1.3B shares |
| Available history | +14% | +1.3B shares |
ITUB has 11.1B diluted shares, up 2.5% from a year ago, despite $1.2B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $300.6M |
| Q1 2026 | $309.2M |
| Q4 2025 | $214M |
| Q3 2025 | $342.1M |
| Q2 2025 | — |
| Q1 2025 | $14.9M |
| Q4 2024 | $18.1M |
| Q3 2024 | — |
ITUB spent $1.2B buying back its own shares over the past year, more than ten 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 ITUB on leverage, with a lower net debt burden relative to earnings.
ITUB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 12.0x | High |
| Q1 2026 | 14.1x | High |
| Q4 2025 | 12.9x | High |
| Q3 2025 | 12.8x | High |
| Q2 2025 | 13.1x | High |
| Q1 2025 | 12.0x | High |
| Q4 2024 | 12.0x | High |
| Q3 2024 | 13.0x | High |
ITUB's net debt is about 12 years of its operating earnings (EBITDA), down from 13 years a year ago. Net leverage isn't a meaningful measure for financial services companies like ITUB.
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).
ITUB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.6 | Neutral |
| Stochastic | 9.4 | Oversold |
ITUB's weekly RSI is 44 (neutral) and its Stochastic is 9 (oversold).
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.
ITUB PE vs Financial Services Sector
| Metric | ITUB | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
ITUB 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 ITUB on trend strength, trading above more of its moving averages.
ITUB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.48 | 13% below |
| 20 week MA | $8.23 | 10% below |
| 50 week MA | $8.17 | 9.8% below |
| 100 week MA | $7.20 | 2.4% above |
| 200 week MA | $6.29 | 17% above |
ITUB has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 17% above 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 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.
ITUB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.82 | $4.64 | -32% |
| 2021 | $4.64 | $3.40 | -27% |
| 2022 | $3.40 | $4.43 | +30% |
| 2023 | $4.43 | $6.32 | +43% |
| 2024 | $6.32 | $4.53 | -28% |
| 2025 | $4.53 | $7.10 | +57% |
| 2026 YTD | $7.10 | $7.37 | +3.8% |
ITUB has the edge over GS on returns for 2026, with the stronger performance.