GS
The Goldman Sachs Group, Inc.
GS offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
KKR
KKR & Co. Inc.
KKR has a slight edge over GS overall, supported by stronger modeled upside 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.
KKR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
KKR's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like KKR.
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 KKR in the historical PE scenario, which offers more potential upside but is not a forecast.
KKR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.1x | $27.68 | -72% |
| Forward | 11x | $97.20 | — |
| Fair | 28x | $96.54 | -0.7% |
| Current | 28x | $97.20 | — |
| Expensive | 50x | $172 | +77% |
Historical ranges are pointers, not guarantees.
KKR's PE is in its fair range at 28x. If earnings grow as analysts expect, today's price would be 11x next year's earnings, in its cheap range.
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.
KKR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
KKR 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% |
GS has the edge over KKR on earnings, with more consistent year-over-year improvement.
KKR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.81 | +157% |
| Q3 2026 | $3.43 | +45% |
| Q2 2026 | $3.14 | +50% |
| Q1 2026 | $2.94 | +27% |
| Q4 2025 | $2.34 | -29% |
| Q3 2025 | $2.36 | -27% |
| Q2 2025 | $2.10 | -51% |
| Q1 2025 | $2.32 | -48% |
| Q4 2024 | $3.28 | -20% |
KKR's earnings per share have fallen from their peak: $3.43 over the past year, against $9.18 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 KKR 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 KKR on profitability, with a higher operating margin.
KKR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.6B | -17% |
| Q2 2026 | $5.7B | +13% |
| Q1 2026 | $4.3B | +39% |
| Q4 2025 | $5.7B | +76% |
| Q3 2025 | $5.5B | +15% |
| Q2 2025 | $5.1B | +22% |
| Q1 2025 | $3.1B | -68% |
| Q4 2024 | $3.3B | -26% |
KKR's revenue is growing: $4.6B last quarter, down 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 33% | -6.7 points |
| Q2 2026 | 24% | -6 points |
| Q1 2026 | 11% | -14 points |
| Q4 2025 | 45% | -5.1 points |
| Q3 2025 | 40% | +5.5 points |
| Q2 2025 | 30% | +1 points |
| Q1 2025 | 25% | +11 points |
| Q4 2024 | 50% | +8.1 points |
KKR's operating margin was 33% last quarter, down 6.7 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.
KKR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.1B | -10% |
| Q2 2026 | $3.3B | +641% |
| Q1 2026 | $1.7B | -31% |
| Q4 2025 | -$4.9B | -$4.8B |
| Q3 2025 | $2.4B | +27% |
| Q2 2025 | $438.8M | -87% |
| Q1 2025 | $2.5B | +67% |
| Q4 2024 | -$111.7M | -110% |
KKR 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 KKR 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.
KKR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -5.5M shares |
| 1 year | +0.1% | +786K shares |
| 3 years | +0.8% | +7.1M shares |
| 5 years | +53% | +307M shares |
| Available history | +58% | +326M shares |
KKR has 892M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $143.1M |
| Q2 2026 | $42M |
| Q1 2026 | $191.2M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q4 2023 | — |
KKR spent $376M buying back its own shares over the past year.
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 KKR on leverage, with a lower net debt burden relative to earnings.
KKR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.7x | Net Cash |
| Q2 2026 | -3.1x | Net Cash |
| Q1 2026 | -2.8x | Net Cash |
| Q4 2025 | -2.4x | Net Cash |
| Q3 2025 | -3.6x | Net Cash |
| Q2 2025 | -3.1x | Net Cash |
| Q1 2025 | -3.4x | Net Cash |
| Q4 2024 | -2.6x | Net Cash |
KKR has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like KKR.
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).
KKR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.4 | Neutral |
| Stochastic | 36.5 | Neutral |
KKR's weekly RSI is 48 (neutral) and its Stochastic is 36 (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 has the edge over KKR on valuation relative to its sector.
KKR PE vs Financial Services Sector
| Metric | KKR | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 118% above |
| PE % | 50 | 63 | 13 pts below |
KKR is trading at 28x earnings, a 118% premium to the Financial Services sector's median of 13x.
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 KKR on trend strength, trading above more of its moving averages.
KKR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $92.9 | 4.6% above |
| 20 week MA | $98.9 | 1.7% below |
| 50 week MA | $102.9 | 5.5% below |
| 100 week MA | $116.9 | 17% below |
| 200 week MA | $101.7 | 4.4% below |
KKR has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 4.4% 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 KKR on returns for 2026, with the stronger performance.
KKR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.2 | $39.8 | +37% |
| 2021 | $39.8 | $75.7 | +90% |
| 2022 | $75.7 | $46.9 | -38% |
| 2023 | $46.9 | $82.9 | +77% |
| 2024 | $82.9 | $149.9 | +81% |
| 2025 | $149.9 | $130.4 | -13% |
| 2026 YTD | $130.4 | $97.2 | -25% |
KKR has finished higher in four of the last six years, three of them by more than 50%. It's down 25% so far in 2026.