Start with its own history
At 13.09×, GS is 3.1% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · GSFinancial - Capital MarketsUpdated Nov 2, 2026
The Goldman Sachs Group, Inc. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
13.09×
3.1% belowthe 10-year annual average
Share price910.31
÷Earnings per share69.55
Price and EPS in quote currency. Calculation details
Investors are paying 13.09 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 13.50×
3-year average15.85×3 positive annual observations
5-year average13.02×5 positive annual observations
10-year average13.50×10 positive annual observations
Peer median · TTM12.18×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 16.92× | +21.8% |
| Dec 31, 2024 | 13.89× | -17.0% |
| Dec 31, 2023 | 16.74× | +49.0% |
| Dec 31, 2022 | 11.23× | +77.2% |
| Dec 31, 2021 | 6.34× | -39.9% |
| Dec 31, 2020 | 10.54× | -2.6% |
| Dec 31, 2019 | 10.82× | +65.4% |
| Dec 31, 2018 | 6.54× | -76.6% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 27.93× | +98.3% |
| Dec 31, 2016 | 14.09× | -3.5% |
| Dec 31, 2015 | 14.59× | +34.8% |
| Dec 31, 2014 | 10.82× | -1.8% |
| Dec 31, 2013 | 11.02× | +25.1% |
| Dec 31, 2012 | 8.81× | -22.3% |
| Dec 31, 2011 | 11.33× | -3.8% |
| Dec 31, 2010 | 11.78× | +69.6% |
| Dec 31, 2009 | 6.95× | -55.2% |
| Nov 28, 2008 | 15.52× | +72.2% |
| Nov 30, 2007 | 9.01× | -10.7% |
| Nov 24, 2006 | 10.09× | -15.4% |
| Nov 25, 2005 | 11.92× | +1.4% |
| Nov 26, 2004 | 11.75× | -28.2% |
| Nov 28, 2003 | 16.37× | -16.4% |
| Nov 29, 2002 | 19.57× | -6.3% |
| Nov 30, 2001 | 20.89× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How GS compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 GS This stockThe Goldman Sachs Group, Inc. | 13.09× |
 MSMorgan Stanley | 14.73× |
 JEFJefferies Financial Group Inc. | 12.52× |
 UBSUBS Group AG | 16.00× |
 JPMJPMorgan Chase & Co. | 14.26× |
 BACBank of America Corporation | 11.74× |
 CCitigroup Inc. | 11.83× |
 NMRNomura Holdings, Inc. | 10.56× |
 OPYOppenheimer Holdings Inc. | 10.22× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does GS’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 12.18×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take GS into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("GS", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 910.31 ÷ EPS 69.55 = 13.09×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
GS P/E ratio: common questions
The essentials behind the numbers.
The Goldman Sachs Group, Inc.'s current P/E is 13.09× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.