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 71.1% of net revenues as of Dec. 31, 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 (28.6%) 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 (2.8%) 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
Putting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For Goldman Sachs, if you bought shares a decade ago, you're likely feeling really good about your investment today.
A $1000 investment made in January 2016 would be worth $6,048.14, or a gain of 504.81%, as of January 28, 2026, according to our calculations. This return excludes dividends but includes price appreciation.
The S&P 500 rose 270.62% and the price of gold increased 346.87% over the same time frame in comparison.
Analysts are anticipating more upside for GS.
Shares of Goldman have outperformed the industry in the past year. Its fourth-quarter results have benefited from solid revenue growth in the Global Banking & Markets and Asset & Wealth Management divisions. The company beat earnings estimates in each of the trailing four quarters. It is refocusing on the core strengths of investment banking (IB) and trading businesses through restructuring and scaling back its consumer banking footprint. However, its high dependence on overseas revenues is worrisome. The rising expenses due to ongoing investments in technology and elevated transaction-based costs during periods of higher client activity are also concerning. Nonetheless, its expansion in the private equity credit market is expected to diversify revenues base. Further, a solid liquidity profile will support its capital distribution activities.
The stock is up 5.12% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 6 higher, for fiscal 2026. 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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