GS
Goldman Sachs Group Inc
NYSE: GS · FINANCIAL SERVICES · CAPITAL MARKETS
$1,062.75
+2.62% today
Updated 2026-06-12
Market cap
$314.06B
P/E ratio
19.45
P/S ratio
5.10x
EPS (TTM)
$54.74
Dividend yield
1.48%
52W range
$581 – $1,074
Volume
2.1M
Goldman Sachs Group Inc (GS) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed GS price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$1,062.75
Today
Analyst consensus
$947.60
-10.84% · 12M
2030 Base
$-678.51
-163.84% future
NPV today
$-678.51
@ 12% WACC
25 analysts:
9 Buy14 Hold2 Sell
Management guidance
CEO David Solomon has not provided explicit multi-year revenue guidance through 2030. Goldman Sachs targets ROE of 13%+ and maintains strategic focus on capital markets, wealth management, and investment banking. Management emphasizes return to higher profitability post-restructuring, with current profit margins at 29.4% indicating operational efficiency stabilization.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
GS · Goldman Sachs Group Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$-955.36
NPV today: $-955.36
Base case (2030)
$-678.51
NPV today: $-678.51
Bull case (2030)
$152.05
NPV today: $92.06
WallStSmart.com
GS financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $125.1B | $67.2B | $72.1B | $76.8B | $81.2B | $85.5B |
| Revenue growth | -1.4% | 13.0% | 7.3% | 6.5% | 5.7% | 5.3% |
| Net margin | — | 28.2% | 29.3% | 29.6% | 29.8% | 30.0% |
| EPS | $51.29 | $63.50 | $70.20 | $74.80 | $79.10 | $83.00 |
| Diluted shares | — | 298M | 301M | 304M | 306M | 309M |
| Net debt | — | $341.35B | $350.30B | $359.84B | $369.92B | $380.54B |
| P/S multiple | — | 2.0x | 2.0x | 2.0x | 2.0x | 2.0x |
| Implied price (base) | — | $-693.86 | $-684.19 | $-678.54 | $-677.35 | $-678.51 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $85.5B | $85.5B | $85.5B |
| P/S multiple | 1.0x | 2.0x | 5.0x |
| Diluted shares | 309M | 309M | 309M |
| Net debt | $380.54B | $380.54B | $380.54B |
| Implied P/E † | -12x | -8x | 2x |
| 2030 Price | $-955.36 | $-678.51 | $152.05 |
| NPV @ 12% | $-955.36 | $-678.51 | $92.06 |
† Implied P/E: Multiples remain elevated across all three scenarios because GS is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $-678.51 base case
GS catalysts and risks
Growth catalysts
+ SpaceX mega-IPO lead underwriter role (June 2026) — $1B+ fee pool across 21 underwriters signals investment banking momentum recovery
+ OpenAI IPO underwriting opportunity — major tech/capital markets event driving advisory and underwriting fees
+ Rising interest rates benefiting net interest margins and fixed income trading revenue
+ Wealth management expansion and alternative asset growth as institutional capital seeks higher yields
+ AI-driven trading and capital markets infrastructure monetization
Key risks
- Macroeconomic slowdown reducing M&A, capital raising, and trading activity volumes
- Margin compression if interest rates decline from current elevated levels
- Regulatory headwinds and increased compliance costs in U.S. and international markets
- Competition from fintech disruptors and alternative capital markets platforms
- Geopolitical instability reducing global capital flows and cross-border transactions
Methodology · Goldman Sachs Group Inc 2030 stock forecast model
Goldman Sachs Group Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 25 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (5% cumulative for GS by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($380.54B by 2030) |
| 3. Time value | NPV calculated using 12% WACC (CAPM: beta 1.274) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 2.0x / bull 5.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
GS price target FAQ
What is the GS price target for 2030?
WallStSmart's Goldman Sachs Group Inc 2030 base case is $-678.51 per share, with a bull case of $152.05 and bear case of $-955.36. The NPV of the base case discounted to today at 12% WACC is $-678.51.
How is the Goldman Sachs Group Inc 2030 stock forecast calculated?
The GS 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the GS price target account for dilution?
Goldman Sachs Group Inc is projected to grow diluted share count from 295M to 309M by 2030 (a 5% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 5%.
What is the analyst consensus on GS stock?
25 analysts cover GS with an average 12-month price target of $947.60. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.