GS
The Goldman Sachs Group, Inc.
GS has the edge over SHG overall, supported by lower modeled downside and stronger fundamentals.
SHG
Shinhan Financial Group Co., Ltd.
SHG's outlook is improving, though it still trails on the overall score.
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.
SHG Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
SHG's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like SHG.
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.
SHG PE Valuation
SHG 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 |
Analysts expect earnings and revenue growth for GS, with profitability improving. However, they disagree widely on these estimates.
SHG Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for SHG, with profitability improving.
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 SHG on earnings, with stronger typical year-over-year growth.
SHG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $8.36 | +22% |
| Q1 2026 | $7.72 | +17% |
| Q4 2025 | $7.42 | +18% |
| Q3 2025 | $7.14 | +9.5% |
| Q2 2025 | $6.88 | +9.2% |
| Q1 2025 | $6.61 | +9.1% |
| Q4 2024 | $6.31 | +3.8% |
| Q3 2024 | $6.52 | +13% |
SHG's earnings per share have climbed steadily: $8.36 over the past year, up 22% from the year before, and higher year over year for eight 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 has the edge over SHG 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 SHG on profitability, with a higher operating margin.
SHG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $7.5B | +13% |
| Q1 2026 | $6.5B | +2% |
| Q4 2025 | $6.6B | -2.6% |
| Q3 2025 | $6.3B | -4.6% |
| Q2 2025 | $6.6B | +0.1% |
| Q1 2025 | $6.4B | -0.9% |
| Q4 2024 | $6.8B | -1.7% |
| Q3 2024 | $6.6B | +5.6% |
SHG's revenue grew through 2023 and has held roughly level since: $7.5B last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 36% | +13 points |
| Q1 2026 | 25% | +2 points |
| Q4 2025 | 10% | +3.6 points |
| Q3 2025 | 23% | +3.2 points |
| Q2 2025 | 23% | +2.3 points |
| Q1 2025 | 23% | +2.7 points |
| Q4 2024 | 6.6% | -1.9 points |
| Q3 2024 | 20% | +1 points |
SHG's operating margin was 36% last quarter, up 13 points from the same quarter a year ago, near the top 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'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.
SHG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$350.4M | +$3B |
| Q1 2026 | $9.8B | +107% |
| Q4 2025 | -$3.8B | -$504.2M |
| Q3 2025 | $9.2B | +86% |
| Q2 2025 | -$3.3B | -$2.1B |
| Q1 2025 | $4.8B | +$5.8B |
| Q4 2024 | -$3.3B | +$379.3M |
| Q3 2024 | $4.9B | +$9.7B |
SHG 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 SHG 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.
SHG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -867K shares |
| 1 year | -1.2% | -5.8M shares |
| 3 years | -7.5% | -39.1M shares |
| 5 years | -9.8% | -52.5M shares |
| Available history | +0.1% | +662K shares |
SHG has 482M diluted shares, down 1.2% from a year ago, with $974M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $228.1M |
| Q1 2026 | $296.4M |
| Q4 2025 | $251.8M |
| Q3 2025 | $197.8M |
| Q2 2025 | $280.1M |
| Q1 2025 | $207M |
| Q4 2024 | $187.3M |
| Q3 2024 | $112.5M |
SHG spent $974M buying back its own shares over the past year, up 24% from 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 SHG on leverage, with a lower net debt burden relative to earnings.
SHG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 11.0x | High |
| Q1 2026 | 12.4x | High |
| Q4 2025 | 14.0x | High |
| Q3 2025 | 12.3x | High |
| Q2 2025 | 13.5x | High |
| Q1 2025 | 13.0x | High |
| Q4 2024 | 14.9x | High |
| Q3 2024 | 13.5x | High |
SHG's net debt is about 11 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 SHG.
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).
SHG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.3 | Neutral |
| Stochastic | 4.9 | Oversold |
SHG's weekly RSI is 40 (neutral) and its Stochastic is 5 (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.
SHG PE vs Financial Services Sector
| Metric | SHG | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
SHG 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 SHG on trend strength, trading above more of its moving averages.
SHG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $70.5 | 9.5% below |
| 20 week MA | $73.4 | 13% below |
| 50 week MA | $66.6 | 4.2% below |
| 100 week MA | $54.3 | 17% above |
| 200 week MA | $43.3 | 47% above |
SHG has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 47% 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.
SHG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $39.6 | $30.4 | -23% |
| 2021 | $30.4 | $32.0 | +5.4% |
| 2022 | $32.0 | $29.3 | -8.4% |
| 2023 | $29.3 | $30.8 | +5.1% |
| 2024 | $30.8 | $33.2 | +7.8% |
| 2025 | $33.2 | $54.0 | +63% |
| 2026 YTD | $54.0 | $63.8 | +18% |
SHG has the edge over GS on returns for 2026, with the stronger performance.