GS
The Goldman Sachs Group, Inc.
GS has the edge over THG overall, supported by stronger fundamentals and stronger modeled upside.
THG
The Hanover Insurance Group, Inc.
THG has slightly lower modeled downside risk, despite its lower 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.
THG Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
THG'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 THG.
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.
THG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $219 | -12% |
| Current | 12x | $248 | — |
| Fair | 13x | $273 | +9.9% |
| Forward | 13x | $248 | — |
| Expensive | 17x | $360 | +45% |
Historical ranges are pointers, not guarantees.
THG 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 THG on the outlook, with more favorable valuation and revenue expectations.
THG Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect THG's earnings to grow and its profitability to improve, with its revenue holding steady.
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's earnings per share have climbed steadily: $69.58 over the past year, up 41% from the year before, and higher year over year for 10 quarters in a row. Its recent earnings include one-off gains.
THG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $19.65 | -6% |
| Q3 2026 | $20.90 | +21% |
| Q2 2026 | $20.94 | +38% |
| Q1 2026 | $19.86 | +65% |
| Q4 2025 | $18.16 | +55% |
| Q3 2025 | $17.30 | +71% |
| Q2 2025 | $15.20 | +101% |
| Q1 2025 | $12.02 | +167% |
| Q4 2024 | $11.70 | +1094% |
THG has the edge over GS on earnings, with stronger typical year-over-year growth.
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 THG on profitability, with a higher operating margin.
THG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +4.2% |
| Q2 2026 | $1.7B | +4.3% |
| Q1 2026 | $1.7B | +6.1% |
| Q4 2025 | $1.7B | +5.5% |
| Q3 2025 | $1.7B | +6.4% |
| Q2 2025 | $1.7B | +7.7% |
| Q1 2025 | $1.6B | +3.4% |
| Q4 2024 | $1.6B | +3.6% |
THG's revenue has grown year over year for 17 quarters in a row: $1.7B last quarter, up 4.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | -0.8 points |
| Q2 2026 | 15% | +1.9 points |
| Q1 2026 | 15% | +3.1 points |
| Q4 2025 | 17% | +1.2 points |
| Q3 2025 | 15% | +5.3 points |
| Q2 2025 | 13% | +6.5 points |
| Q1 2025 | 12% | +2 points |
| Q4 2024 | 16% | +5.7 points |
THG'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.
THG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $518M | -6.1% |
| Q2 2026 | $209.4M | +2.2% |
| Q1 2026 | $115.3M | +211% |
| Q4 2025 | $377M | +79% |
| Q3 2025 | $551.4M | +41% |
| Q2 2025 | $204.9M | +49% |
| Q1 2025 | $37.1M | -34% |
| Q4 2024 | $210.5M | +133% |
THG 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 THG 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.
THG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -100K shares |
| 1 year | -2.5% | -900K shares |
| 3 years | -1.7% | -600K shares |
| 5 years | -2.2% | -800K shares |
| Available history | -13% | -5.1M shares |
THG has 36M diluted shares, down 2.5% from a year ago, with $283M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $86.4M |
| Q2 2026 | $55M |
| Q1 2026 | $86.9M |
| Q4 2025 | $54.6M |
| Q3 2025 | $36M |
| Q2 2025 | $27.6M |
| Q1 2025 | $11M |
| Q3 2023 | — |
THG spent $283M 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 THG on leverage, with a lower net debt burden relative to earnings.
THG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.6x | Very low |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.5x | Very low |
THG's net debt is less than a year of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for financial services companies like THG.
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).
THG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 73.1 | Overbought |
| Stochastic | 82.0 | Overbought |
THG's weekly RSI is 73 (overbought) and its Stochastic is 82 (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.
THG PE vs Financial Services Sector
| Metric | THG | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 8.8% below |
| PE % | 36 | 63 | 27 pts below |
THG 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.
THG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $232.5 | 6.7% above |
| 20 week MA | $227.3 | 9.1% above |
| 50 week MA | $200.1 | 24% above |
| 100 week MA | $184.1 | 35% above |
| 200 week MA | $156.4 | 59% above |
THG 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.
THG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $136.4 | $116.1 | -15% |
| 2021 | $116.1 | $127.7 | +10% |
| 2022 | $127.7 | $137.4 | +7.6% |
| 2023 | $137.4 | $121.4 | -12% |
| 2024 | $121.4 | $154.3 | +27% |
| 2025 | $154.3 | $184.2 | +19% |
| 2026 YTD | $184.2 | $248.0 | +35% |
THG has the edge over GS on returns for 2026, with the stronger performance.