The Goldman Sachs Group, Inc. (GS)
Goldman Sachs is a leading global investment bank strong in advisory, trading, and asset and wealth management. Its results are closely tied to capital-markets activity and dealmaking cycles.
Financials stock comparison
GS vs JPM: which business are you actually underwriting?
Compare The Goldman Sachs Group, Inc. with JPMorgan Chase & Co. using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Financials
- Industry
- Different SIC
- Shared themes
- 2
- Updated
- 2026-02-25
GS vs JPM: quick comparison
| Company fact | GS | JPM |
|---|---|---|
| Company | The Goldman Sachs Group, Inc. | JPMorgan Chase & Co. |
| Exchange | NYSE | NYSE |
| Headquarters | New York, New York | New York, New York |
| Founded | 1869 | 1799 |
| SEC industry | Security Brokers, Dealers & Flotation Companies | National Commercial Banks |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-25 | 10-K · 2026-02-13 |
GS vs JPM: audited financials
JPM reported about 3.1× the revenue of GS in the latest audited fiscal year. On profitability, JPM converted a larger share of revenue into net income (31.2% versus 29.5%). Scale and margin are starting facts for the thesis, not the verdict.
| Metric | GS | JPM |
|---|---|---|
| Revenue | $58.3B | $182.4B |
| Net income | $17.2B | $57.0B |
| Operating cash flow | −$45.2B | −$147.8B |
| Diluted EPS | $51.32 | $20.02 |
| Net margin | 29.5% | 31.2% |
GS: FY ending 2025-12-31 · JPM: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
How the businesses differ
Why this pair belongs in the comparison set
GS and JPM have different SEC industry classifications, but both map to the maintained Rates & central banks and Economic trends research themes inside the Financials sector. A shared classification or theme makes the pair useful for a defined research question; it does not mean the companies have identical products, economics, or risks.
JPMorgan Chase & Co. (JPM)
JPMorgan Chase is the largest US bank by assets, with leading positions in consumer banking, investment banking, and asset management. Its scale and diversification make it a bellwether for the financial system.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. GS is classified by the SEC as Security Brokers, Dealers & Flotation Companies, while JPM is classified as National Commercial Banks. The different industry codes are a warning against treating sector membership as proof of identical economics.
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The thesis, the numbers behind it, and what would break it. Full access is $15 a month.
Read the full researchWhich thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study GS when…
- The shape of the yield curve and net interest margins
- Credit quality and loan-loss provisions
- Regulation and capital requirements
- Deal activity and market volatility
Study JPM when…
- Net interest income, deposit margins, and revolving card balances
- Provision for credit losses and net charge-offs in Card Services and wholesale
- Investment banking fees and Markets revenue
- Assets under management and net inflows in Asset & Wealth Management
Shared research themes
Rates & central banksEconomic trends
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.GS's fiscal year ends December 31, while JPM's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 53matched transaction rows for GSand 62 for JPM. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
GS primary filings
JPM primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving GS or JPM
GS vs JPM FAQs
Are GS and JPM direct competitors?
The Goldman Sachs Group, Inc. and JPMorgan Chase & Co. sit in the same Financials sector but have different SEC industry classifications. The comparison is most useful for portfolio role and sector exposure, not as a claim that every product competes directly.
Which is better, GS or JPM?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this GS vs JPM comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers The Goldman Sachs Group, Inc. and JPMorgan Chase & Co. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-09-25. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-09-25. Independent educational research; not investment advice.
A comparison is the setup. The thesis is the call.
GS vs JPM shows how the businesses differ. Membership is the monthly sourced view of who could benefit, what could break, and what evidence matters next. $15/month or $150/year.
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