GS
The Goldman Sachs Group, Inc.
GS has the edge over JRVR overall, supported by stronger fundamentals and lower modeled downside.
JRVR
James River Group Holdings, Ltd.
JRVR 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.
JRVR Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| N/A | |
| N/A |
JRVR's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like JRVR.
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.
JRVR PE Valuation
JRVR 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 JRVR on the outlook, with more favorable earnings and revenue expectations.
JRVR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Decline | |
| Decline | |
| Weakening | |
| Limited | |
| Low |
Analysts expect JRVR's earnings and revenue to decline, with profitability weakening. However, they disagree widely on these estimates.
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 JRVR on earnings quality, reporting a profit while its opponent remains loss making.
JRVR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.91 | — |
| Q3 2026 | -$3.62 | -$1.38 |
| Q2 2026 | $0.44 | +$3.76 |
| Q1 2026 | $0.40 | +$3.65 |
| Q4 2025 | $0.79 | +$3.85 |
| Q3 2025 | -$2.24 | +$1.81 |
| Q2 2025 | -$3.32 | -$0.82 |
| Q1 2025 | -$3.25 | -$0.97 |
| Q4 2024 | -$3.06 | -$0.61 |
JRVR is still losing money, but less than at its worst: $3.62 per share over the past year, against $4.94 at its worst in late 2021.
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 JRVR 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 JRVR on profitability, with a higher operating margin.
JRVR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $147.7M | -14% |
| Q2 2026 | $161.3M | -7.7% |
| Q1 2026 | $151.4M | -12% |
| Q4 2025 | $167.7M | +32% |
| Q3 2025 | $172.7M | -9.8% |
| Q2 2025 | $174.8M | -7.1% |
| Q1 2025 | $172.3M | -14% |
| Q4 2024 | $126.7M | -42% |
JRVR's revenue fell from its 2019 peak and has held roughly level since: $148M last quarter, down 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -128% | -129 points |
| Q2 2026 | 5.2% | +1 points |
| Q1 2026 | -7% | -16 points |
| Q4 2025 | 15% | +72 points |
| Q3 2025 | 1.5% | +29 points |
| Q2 2025 | 4.2% | -6.5 points |
| Q1 2025 | 9.3% | -7.1 points |
| Q4 2024 | -57% | -70 points |
JRVR's operating margin was −128% last quarter, down 129 points from the same quarter a year ago, near the bottom of its range since 2019.
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 has the edge over JRVR on cash flow, with more consistent year-over-year improvement.
JRVR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$39.8M | -218% |
| Q2 2026 | -$5.9M | -124% |
| Q1 2026 | -$766K | +$51.9M |
| Q4 2025 | -$29.3M | -718% |
| Q3 2025 | $33.7M | +$304.4M |
| Q2 2025 | $24.7M | +$34M |
| Q1 2025 | -$52.7M | -326% |
| Q4 2024 | $4.7M | +$17.7M |
JRVR's free cash flow was −$76M over the past year, against $10M the year before. Free cash flow isn't a meaningful measure for financial services companies like JRVR.
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 JRVR 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.
JRVR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -623K shares |
| 1 year | -0.8% | -387K shares |
| 3 years | +22% | +8.5M shares |
| 5 years | +34% | +11.8M shares |
| Available history | +51% | +15.7M shares |
JRVR has 46M diluted shares, down 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2023 | $1.5M |
| Q4 2022 | $363,000 |
| Q3 2022 | — |
| Q2 2022 | $19,000 |
| Q1 2022 | $922,000 |
| Q4 2021 | $315,000 |
| Q3 2021 | — |
| Q2 2021 | $209,000 |
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.
JRVR Net Leverage
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).
JRVR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.4 | Neutral |
| Stochastic | 26.1 | Neutral |
JRVR's weekly RSI is 30 (neutral) and its Stochastic is 26 (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.
JRVR PE vs Financial Services Sector
| Metric | JRVR | Sector median | Relative |
|---|---|---|---|
| PE | 8.8x | 13x | 32% below |
| PE % | 22 | 63 | 41 pts below |
JRVR 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 has the edge over JRVR on trend strength, trading above more of its moving averages.
JRVR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.67 | 14% below |
| 20 week MA | $4.05 | 22% below |
| 50 week MA | $5.12 | 39% below |
| 100 week MA | $5.13 | 39% below |
| 200 week MA | $8.78 | 64% below |
JRVR is in a downtrend: it's below all five of its weekly moving averages, and 64% 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 JRVR on returns for 2026, with the stronger performance.
JRVR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $41.5 | $48.9 | +18% |
| 2021 | $48.9 | $27.1 | -44% |
| 2022 | $27.1 | $22.1 | -19% |
| 2023 | $22.1 | $9.24 | -58% |
| 2024 | $9.24 | $4.84 | -48% |
| 2025 | $4.84 | $6.39 | +32% |
| 2026 YTD | $6.39 | $3.14 | -51% |
JRVR has finished lower in four of the last six years. It's down 51% so far in 2026.