GS
Goldman Sachs Group, Inc.
Finance/Real Estate
03/08/2023
Presented
| Date | 03/02/2023 |
| Price | $349.10 |
| Market Cap | $117.10B |
| Ent Value | $591.24B |
| P/E Ratio | 11.61x |
| Book Value | $317.95 |
| Div Yield | 2.72% |
| Shares O/S | 335.42M |
| Ave Daily Vol | 2,684,203 |
| Short Int | 10.25% |
Current
| Price | $522.38 |
| Market Cap | $164.97B |
| The Goldman Sachs Group, Inc. engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, helping companies raise capital to strengthen and grow their businesses and provide financing to corporate clients. The Global Markets segment serves its clients who buy and sell financial products, funding and managing risk. The Asset Management segment provides investment services to help clients preserve and grow their financial assets. The Consumer & Wealth Management segment helps clients to achieve their individual financial goals by providing wealth advisory and banking services. The company was founded by Marcus Goldman in 1869 and is headquartered in New York, NY. |
Publicly traded companies mentioned herein: Apple Inc (AAPL), Bank of America Corp (BAC), Goldman Sachs Group Inc/The (GS), Morgan Stanley (MS), Wells Fargo & Co (WFC)
Highlights
The presenter is long shares of The Goldman Sachs Group Inc (GS), which is currently trading around the same price as it did before the excitement about the Analyst Day where management was expected to share all the reasons it should trade in line with Morgan Stanley. On a P/TBV basis, GS trades at half the valuation of MS, and the presenter deems this reasonable as MS is an incredibly well run business. That said, in an environment where investors are concerned about mark-to-market issues on the left side of the balance sheet, the one way to completely avoid that issue is to always be funded, and he is confident GS (and other money center banks) will never have a funding crisis. If there is even close to a funding crisis, GS will approach the Fed. Ultimately, he views the stock as a double based on a shift in strategy, cost reductions, capital efficiency improvements, and entrance into the high-net-worth segment of the wealth management business.
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