GS
The Goldman Sachs Group, Inc.
GS has the edge over PGR overall, supported by stronger modeled upside and stronger fundamentals.
PGR
The Progressive Corporation
PGR offers stronger valuation, 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.
PGR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
PGR'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 PGR.
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.
PGR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $211 | -10% |
| Current | 12x | $235 | — |
| Forward | 15x | $235 | — |
| Fair | 16x | $311 | +32% |
| Expensive | 46x | $904 | +284% |
Historical ranges are pointers, not guarantees.
PGR 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 |
GS has the edge over PGR on the outlook, with more favorable valuation and earnings expectations.
PGR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Decline | |
| Growth | |
| Strongly weakening | |
| Moderate | |
| Low |
Analysts expect PGR's revenue to grow, but its earnings and profitability to decline. 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 PGR on earnings, with stronger typical year-over-year growth.
PGR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.96 | -20% |
| Q3 2026 | $19.85 | +8.9% |
| Q2 2026 | $19.93 | +12% |
| Q1 2026 | $19.66 | +33% |
| Q4 2025 | $19.23 | +34% |
| Q3 2025 | $18.23 | +32% |
| Q2 2025 | $17.75 | +52% |
| Q1 2025 | $14.83 | +52% |
| Q4 2024 | $14.40 | +119% |
PGR's earnings per share have climbed steadily: $19.85 over the past year, up 8.9% from the year before, and higher year over year for 14 quarters in a row.
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 has the edge over PGR on profitability, with a higher operating margin.
PGR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $23.2B | +3% |
| Q2 2026 | $23.6B | +7.3% |
| Q1 2026 | $22.2B | +8.7% |
| Q4 2025 | $22.7B | +12% |
| Q3 2025 | $22.5B | +14% |
| Q2 2025 | $22B | +21% |
| Q1 2025 | $20.4B | +18% |
| Q4 2024 | $20.3B | +20% |
PGR's revenue has grown year over year for 17 quarters in a row: $23.2B last quarter, up 3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | -0.8 points |
| Q2 2026 | 18% | -0.3 points |
| Q1 2026 | 16% | +0.2 points |
| Q4 2025 | 16% | +1.6 points |
| Q3 2025 | 15% | -0.2 points |
| Q2 2025 | 18% | +7.8 points |
| Q1 2025 | 16% | -1.2 points |
| Q4 2024 | 15% | -0.2 points |
PGR's operating margin was 14% last quarter, down 0.8 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.
PGR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.4B | -14% |
| Q2 2026 | $3.5B | -12% |
| Q1 2026 | $4.3B | -15% |
| Q4 2025 | $3B | +5.2% |
| Q3 2025 | $5.1B | +13% |
| Q2 2025 | $3.9B | +23% |
| Q1 2025 | $5.1B | +21% |
| Q4 2024 | $2.9B | +23% |
PGR 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 PGR 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.
PGR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -2M shares |
| 1 year | -1% | -6M shares |
| 3 years | -0.9% | -5.3M shares |
| 5 years | -0.8% | -4.9M shares |
| Available history | -0.9% | -5M shares |
PGR has 582M diluted shares, down 1% from a year ago.
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.
PGR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.0x | Net Cash |
| Q1 2025 | -0.0x | Net Cash |
| Q4 2024 | -0.0x | Net Cash |
| Q3 2024 | -0.0x | Net Cash |
| Q2 2024 | -0.0x | Net Cash |
| Q1 2024 | -0.0x | Net Cash |
PGR has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like PGR.
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).
PGR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.4 | Neutral |
| Stochastic | 80.4 | Overbought |
PGR's weekly RSI is 62 (neutral) and its Stochastic is 80 (overbought).
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.
PGR PE vs Financial Services Sector
| Metric | PGR | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 8.9% below |
| PE % | 28 | 63 | 35 pts below |
PGR 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.
PGR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 6.2% above |
| 20 week MA | $219.2 | 7.4% above |
| 50 week MA | $211.9 | 11% above |
| 100 week MA | $232.6 | 1.3% above |
| 200 week MA | $206.3 | 14% above |
PGR 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.
PGR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $72.2 | $98.3 | +36% |
| 2021 | $98.3 | $101.3 | +3% |
| 2022 | $101.3 | $129.4 | +28% |
| 2023 | $129.4 | $159.3 | +23% |
| 2024 | $159.3 | $241.0 | +51% |
| 2025 | $241.0 | $227.1 | -5.8% |
| 2026 YTD | $227.1 | $235.5 | +3.7% |
PGR has the edge over GS on returns for 2026, with the stronger performance.