How much a stock's price changes over time is a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well.
FOMO, or the fear of missing out, also plays a role in investing, particularly with tech giants and popular consumer-facing stocks.
What if you'd invested in Goldman Sachs (GS) ten years ago? It may not have been easy to hold on to GS for all that time, but if you did, how much would your investment be worth today?
Goldman Sachs' Business In-Depth
With that in mind, let's take a look at Goldman Sachs' main business drivers.
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global financial holding company providing IB, securities, investment management, and consumer banking services to a diversified client base. The company is headquartered in New York, with offices in major financial centers globally.
Goldman provides its services through the following broad segments:
The Global Banking and Markets segment (constitutes 69.4% of net revenues as of June 30, 2025) generates revenues from IB fees, including advisory, and equity and debt underwriting fees, Fixed Income, Currency and Commodities (FICC) intermediation and financing activities and Equities intermediation and financing activities. The segment also includes relationship lending and acquisition financing (and related hedges) and investing activities related to its Global Banking & Markets activities.
The Asset and Wealth Management segment (25.4%) generates revenues from management and other fees, incentive fees, equity investments and debt investments, as well as private banking and lending.
The Platform Solutions segment (4.6%) generates revenues from consumer platforms, and transaction banking and other platform businesses.
In 2023, Goldman completed the divestiture of its Personal Financial Management unit to Creative Planning, resulting in a gain of $349 million.
In 2022, the company acquired robo-advisor, NextCapital and Dutch asset manager, NN Investment Partners from NN Group N.V. The company also closed the acquisition of GreenSky in an all-stock transaction. In 2020 and 2019, Goldman completed its purchase of Folio Financial and United Capital, respectively.
Bottom Line
While anyone can invest, building a lucrative investment portfolio takes research, patience, and a little bit of risk. If you had invested in Goldman Sachs ten years ago, you're probably feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in September 2015 would be worth $4,235.60, or a gain of 323.56%, as of September 12, 2025, and this return excludes dividends but includes price increases.
In comparison, the S&P 500's gained 235.92% and the price of gold went up 215.34% over the same time frame.
Looking ahead, analysts are expecting more upside for GS.
Shares of Goldman have outperformed the industry in the past year. It has beaten earnings estimates in the trailing four quarters. The company's second-quarter 2025 results benefited from solid growth in the Global Banking & Markets division. Its refocus on the core strengths of investment banking (IB) and trading businesses through restructuring, along with acquisitions and expansion in private equity credit, is expected to boost global presence and diversify revenues. Post-clearing the 2025 Fed stress test, it raised dividends. However, given the current geopolitical concerns, Goldman's high dependence on overseas revenues is worrisome. Further, the company's rising expenses due to ongoing investments in technology are concerning. Yet, its decent cash levels and solid credit profile will support its capital distribution plan.
Shares have gained 5.02% over the past four weeks and there have been 8 higher earnings estimate revisions for fiscal 2025 compared to none lower. The consensus estimate has moved up as well.
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The Goldman Sachs Group, Inc. (GS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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