Goldman Sachs
Oct 11, 2026, 11:13 PM PDT
Shortcut
13.17Shortcut normalized EPS
-0.04% vs Street
Street
13.18Street normalized EPS
Frozen October 11 snapshot
Real
17.01Reported diluted EPS
Shortcut loss
Shortcut off by $3.84 · Street off by $3.83.
The model assumes no GAAP-to-normalized adjustments. Compared with reported diluted EPS of $17.01, Street is closer by roughly half a cent per share using the original unrounded forecast.
Issuer earnings release ↗Explore the model.
Open the assumptions and calculations behind this earnings forecast.
Behind the estimate.
Strong equities revenue and investment-banking fees support the revenue forecast. Softer fixed-income trading and lower investment gains offset some of that strength.
Higher non-compensation expenses and a 22% tax rate absorb the revenue upside. Buybacks reduce diluted shares, leaving EPS close to consensus.
Forecast and independent review: Opus 5.5 High in Shortcut.
Model assumptions and review notes
- Diluted shares use the midpoint of opening and closing shares. The 22% forecast tax rate and dividend assumptions are retained estimates.
- The Street net-income definition is not established, so that comparison is withheld in the workbook.
On the record.
- Reporting period
- Q3 2026 (FQ3 2026, quarter ended 2026-09-30), ended 2026-09-30
- Reporting basis
- Normalized diluted EPS per common share, USD; forecast equals GAAP diluted EPS with no forecast normalization adjustments
- Published
- Oct 11, 2026, 11:13 PM PDT
- Model / effort
- Opus 5.5 · High effort
Original forecasts, models and publication times remain on the record.
Research sources
- https://www.sec.gov/Archives/edgar/data/886982/000088698226000294/a2q26gsearningsresults.htm
- https://www.sec.gov/Archives/edgar/data/886982/000088698226000008/a4q25gsearningsresults.htm
- https://www.sec.gov/Archives/edgar/data/886982/000119312525238058/d899312dex991.htm
- https://www.sec.gov/Archives/edgar/data/886982/000088698226000096/a1q26gsearningsresults.htm
- https://www.sec.gov/Archives/edgar/data/886982/000088698226000297/gs-20260630.htm
- https://www.sec.gov/Archives/edgar/data/886982/000088698226000118/gs-20260331.htm
- https://www.sec.gov/Archives/edgar/data/886982/000088698225001411/gs-20250930.htm
- https://www.sec.gov/Archives/edgar/data/886982/000088698226000091/R8.htm
- https://www.fool.com/earnings/call-transcripts/2026/07/21/goldman-sachs-gs-q2-2026-earnings-call-transcript/
- https://www.reuters.com/business/finance/goldman-ceo-says-fixed-income-currencies-commodities-business-slightly-softer-q3-2026-09-16/
- https://www.hudson-labs.com/research/goldman-sachs-q3-2026-earnings-gs-results-preview
- https://earningscalls.dev/transcripts/jpmorgan-chase-and-co_jpm_earnings_call_transcript_2026-09-15
- https://www.cnbc.com/2026/09/14/bank-of-america-bac-q3-investment-banking-fees.html
- https://au.investing.com/news/stock-market-news/citigroup-at-barclays-conference-return-gains-buybacks-and-growth-93CH-4641487
- https://www.investmentexecutive.com/news/research-and-markets/global-ma-strong-in-2026/
- https://www.webull.com/news/15701420593775616
- https://finance.yahoo.com/markets/stocks/articles/seeking-clues-goldman-gs-q3-121518628.html
- https://www.gurufocus.com/news/9117198/wall-street-banks-eye-19b-in-q3-stock-trading-revenue-goldman-sachs-gs-leads
- https://earningscallnews.com/gs-q4-2025-earnings/
- https://usmarketcurrent.com/q3-2026-scorecard-sp-500-up-2-russell-2000-down-7-5-energy-led-utilities-fell-13-10-year-up-87bp/
- https://companiesmarketcap.com/goldman-sachs/marketcap/
- https://www.goldmansachs.com/pressroom/press-releases/2025/conference-call-dates-to-announce-4q25-and-2026-earnings-results