GS
The Goldman Sachs Group, Inc.
GS has lower modeled downside risk, despite its lower overall score.
STEP
StepStone Group Inc.
STEP has a slight edge over GS overall, supported by stronger fundamentals and stronger modeled upside.
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.
STEP Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| N/A | |
| N/A |
STEP's revenue is currently healthy, but its profitability is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like STEP.
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.
STEP PE Valuation
STEP 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 STEP on the outlook, with more favorable profitability expectations.
STEP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for STEP, but weaker profitability.
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 STEP on earnings quality, reporting a profit while its opponent remains loss making.
STEP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.83 | — |
| Q3 2026 | -$3.91 | +$4.22 |
| Q2 2026 | -$7.70 | -$4.49 |
| Q1 2026 | -$6.78 | -$4.26 |
| Q4 2025 | -$7.07 | -$5.39 |
| Q3 2025 | -$8.13 | -1433% |
| Q2 2025 | -$3.21 | -517% |
| Q1 2025 | -$2.52 | -377% |
| Q4 2024 | -$1.68 | -285% |
STEP is still losing money, but far less than before: $3.91 per share over the past year, against $8.13 at its worst in late 2025.
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 STEP on profitability, with a higher operating margin.
STEP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $773.1M | +70% |
| Q2 2026 | $378.9M | +4% |
| Q1 2026 | $588.6M | +56% |
| Q4 2025 | $586.5M | +73% |
| Q3 2025 | $454.2M | +67% |
| Q2 2025 | $364.3M | +95% |
| Q1 2025 | $377.7M | +5.9% |
| Q3 2024 | $271.7M | +42% |
STEP has the edge over GS on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -19% | +140 points |
| Q2 2026 | -54% | -38 points |
| Q1 2026 | -3.5% | -1.9 points |
| Q4 2025 | -38% | +68 points |
| Q3 2025 | -159% | -178 points |
| Q2 2025 | -16% | -42 points |
| Q1 2025 | -1.6% | -26 points |
| Q4 2024 | -106% | N/A |
STEP's operating margin was −19% last quarter, up 140 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 has the edge over STEP on cash flow, with more consistent year-over-year improvement.
STEP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$362.3M | -2377% |
| Q2 2026 | -$458.1M | -1114% |
| Q1 2026 | -$24M | +$45.2M |
| Q4 2025 | $26.7M | -1.1% |
| Q3 2025 | $15.9M | -70% |
| Q2 2025 | $45.2M | -8.9% |
| Q1 2025 | -$69.2M | -1131% |
| Q4 2024 | $27M | +28% |
STEP's free cash flow was −$818M over the past year, against $19M the year before. Free cash flow isn't a meaningful measure for financial services companies like STEP.
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 STEP 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.
STEP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +298K shares |
| 1 year | +4.8% | +3.7M shares |
| 3 years | +24% | +16.1M shares |
| 5 years | +79% | +36.4M shares |
| Available history | +181% | +53.1M shares |
STEP has 82M diluted shares, up 4.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $2.1M |
| Q2 2026 | $19.2M |
| Q4 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q2 2020 | — |
| Q1 2020 | — |
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.
STEP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2024 | -0.3x | Net Cash |
| Q2 2024 | -0.1x | Net Cash |
| Q1 2024 | -0.1x | Net Cash |
| Q4 2023 | 0.3x | Very low |
| Q3 2023 | -0.2x | Net Cash |
| Q2 2023 | -0.3x | Net Cash |
| Q1 2023 | -2.4x | Net Cash |
| Q4 2022 | 2.1x | Moderate |
STEP has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like STEP.
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).
STEP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.9 | Neutral |
| Stochastic | 46.3 | Neutral |
STEP's weekly RSI is 51 (neutral) and its Stochastic is 46 (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.
STEP PE vs Financial Services Sector
| Metric | STEP | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
STEP 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's trend is mixed: it's above three of its five weekly moving averages, and 52% above its 200-week average.
STEP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.5 | 6.8% above |
| 20 week MA | $45.7 | 4% above |
| 50 week MA | $51.3 | 7.4% below |
| 100 week MA | $55.0 | 14% below |
| 200 week MA | $45.8 | 3.6% above |
STEP's trend is mixed: it's above three of its five weekly moving averages, and 3.6% 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 the edge over STEP on returns for 2026, with the stronger performance.
STEP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.0 | $36.9 | +48% |
| 2021 | $36.9 | $41.7 | +13% |
| 2022 | $41.7 | $25.9 | -38% |
| 2023 | $25.9 | $31.8 | +23% |
| 2024 | $31.8 | $59.9 | +88% |
| 2025 | $59.9 | $66.2 | +11% |
| 2026 YTD | $66.2 | $47.5 | -28% |
STEP has finished higher in five of the last six years. It's down 28% so far in 2026.