Question 1

What is Goldman Sachs's P/E ratio?

Accepted Answer

Goldman Sachs (GS) P/E ratio is 17.7× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Goldman Sachs?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Goldman Sachs specifically, the relevant sector benchmark is the current sector median of 12.8×.

Question 5

Is Goldman Sachs's P/E ratio high or low?

Accepted Answer

Goldman Sachs's P/E ratio of 17.7× is above its own 5-year average of 11.4× and above the sector median of 12.8×. That places the current reading at the 97th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Goldman Sachs's historical P/E ratio range?

Accepted Answer

In the available daily series, Goldman Sachs (GS) P/E ratio has ranged from a low of 5.0× in 2022 to a high of 23.2× in 2017. The 5-year average is 11.4× and the 5-year median is 12.7×.

Question 7

What was Goldman Sachs's P/E ratio in 2025?

Accepted Answer

Goldman Sachs (GS) P/E ratio at the end of 2025 was 16.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Goldman Sachs's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$274.86B	$17.18B	16.0×	+3.1×	Dec 31, 2025
2024	$184.61B	$14.28B	12.9×	-2.5×	Dec 31, 2024
2023	$131.47B	$8.52B	15.4×	+4.8×	Dec 31, 2023
2022	$120.01B	$11.26B	10.7×	+4.5×	Dec 31, 2022
2021	$132.59B	$21.64B	6.1×	-3.8×	Dec 31, 2021
2020	$93.88B	$9.46B	9.9×	+0.1×	Dec 31, 2020
2019	$83.33B	$8.47B	9.8×	+3.8×	Dec 31, 2019
2018	$63.40B	$10.46B	6.1×	-17.1×	Dec 31, 2018
2017	$99.31B	$4.29B	23.2×	+9.7×	Dec 31, 2017
2016	$99.42B	$7.40B	13.4×	+0.3×	Dec 31, 2016
2015	$79.70B	$6.08B	13.1×	+2.8×	Dec 31, 2015
2014	$87.30B	$8.48B	10.3×	+0.0×	Dec 31, 2014
2013	$82.80B	$8.04B	10.3×	+2.1×	Dec 31, 2013
2012	$61.42B	$7.47B	8.2×	-2.1×	Dec 31, 2012
2011	$45.94B	$4.44B	10.3×	-1.5×	Dec 31, 2011
2010	$98.79B	$8.35B	11.8×	+4.5×	Dec 31, 2010
2009	$98.60B	$13.38B	7.4×	-8.3×	Dec 31, 2009
2008	$36.33B	$2.32B	15.6×	+7.4×	Nov 28, 2008
2007	$95.96B	$11.60B	8.3×	-1.7×	Nov 30, 2007
2006	$94.95B	$9.54B	10.0×	-1.6×	Nov 24, 2006
2005	$65.05B	$5.63B	11.6×	+0.3×	Nov 25, 2005
2004	$51.26B	$4.55B	11.3×	-4.4×	Nov 26, 2004
2003	$47.07B	$3.00B	15.7×	-2.6×	Nov 28, 2003
2002	$38.71B	$2.11B	18.3×	-2.3×	Nov 29, 2002
2001	$47.53B	$2.31B	20.6×	—	Nov 30, 2001


Globe Life (GL-PD)	9.7×
UMB Financial (UMBF)	9.7×
T. Rowe Price (TROW)	9.6×
Everest Re Group (RE)	9.6×
Old Republic International (ORI)	9.5×
First Financial (THFF)	9.3×
Globe Life (GL)	9.3×
The Hartford (HIG)	9.3×
Assured Guaranty (AGO)	8.9×
Cincinnati Financial (CINF)	8.8×
Federal Agricultural Mortgage (AGM)	8.8×
Ally Financial (ALLY)	8.7×
Travelers Companies (TRV)	8.3×
PayPal (PYPL)	8.2×
Farmers & Merchants Bancorp (FMCB)	8.0×
Chesapeake Financial Shares (CPKF)	7.6×
PSB Holdings (PSBQ)	7.5×
Arch Capital Group (ACGL)	7.1×
AXIS Capital Holdings (AXS)	7.0×
Tompkins Financial (TMP)	6.7×
Everest Re Group (EG)	6.5×
Synchrony Financial (SYF)	6.5×
Mercury General (MCY)	5.8×
RenaissanceRe Holdings (RNR)	4.5×
Allstate (ALL)	4.4×

P/E Ratio for Goldman Sachs (GS)

P/E Ratio daily chart for Goldman Sachs (GS)

Historical P/E Ratio for Goldman Sachs (GS) from 2001 to 2025

About P/E Ratio at Goldman Sachs (GS)

Goldman Sachs P/E Ratio by Year

Goldman Sachs P/E Ratio 2025: 16.0×

Goldman Sachs P/E Ratio 2024: 12.9×

Goldman Sachs P/E Ratio 2023: 15.4×

Goldman Sachs P/E Ratio 2022: 10.7×

Goldman Sachs P/E Ratio 2021: 6.1×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Goldman Sachs (GS) Key Financials

P/E Ratio daily chart for Goldman Sachs (GS)

Historical P/E Ratio for Goldman Sachs (GS) from 2001 to 2025

About P/E Ratio at Goldman Sachs (GS)

Goldman Sachs P/E Ratio by Year

Goldman Sachs P/E Ratio 2025: 16.0×

Goldman Sachs P/E Ratio 2024: 12.9×

Goldman Sachs P/E Ratio 2023: 15.4×

Goldman Sachs P/E Ratio 2022: 10.7×

Goldman Sachs P/E Ratio 2021: 6.1×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Goldman Sachs's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Goldman Sachs?

+Is Goldman Sachs's P/E ratio high or low?

+What is Goldman Sachs's historical P/E ratio range?

+What was Goldman Sachs's P/E ratio in 2025?

+Why does Goldman Sachs's P/E ratio change over time?

Goldman Sachs (GS) Key Financials