Financials • Global Banking, Institutional Markets & Wealth Management • SIC 6211
$894.55 ▼ -33.18
(-3.58%)
MKT CAP: $260.83B • VOL: 2.14M
52W L $754 52W H $1,154
GS // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>)
SOURCE: Form 10-K (FY2025) // Item 1 Global Banking & Markets / AWM
01 // UPSTREAM SUPPLIERS & FOUNDRIES
CME CRITICAL
CME Group, ICE & DTCC Clearing Infrastructure
FOUNDRY / INFRA • Derivatives Clearing, Repo Settlement & Exchange Market Data
EST. COGS / CAPEX SHARE 35%
EVIDENCE: 10-K Brokerage, Clearing, Exchange & Distribution Fees
AMZN <GO>
HIGH
AWS Financial Cloud & Legend Data Platform
FOUNDRY / INFRA • Low-Latency Risk Analytics & Institutional Data Cloud Hosting
EST. COGS / CAPEX SHARE 14%
EVIDENCE: 10-K Communications & Technology Expense Disclosures
CORE VALUE-CHAIN HUB NYSE
GS // The Goldman Sachs Group, Inc.
GROSS MARGIN
—
OP MARGIN
39.7%
ROIC %
17.1%
MKT CAP
$260.83B
UPSTREAM INPUTS ──► GS OPERATING ENGINE ──► CUSTOMER REVENUE
03 // DOWNSTREAM REVENUE CUSTOMERS
NVDA <GO>
REV SHARE: ~26%
Corporate M&A Boards, IPO Issuers & Private Equity Sponsors
CUSTOMER • #1 Global M&A Advisory League Table & Equity/Debt Underwriting Fees
EVIDENCE: 10-K Investment Banking Fees Breakdown
BRK-B <GO>
REV SHARE: ~62%
Hedge Funds, Sovereign Wealth Funds & Institutional Asset Owners
CUSTOMER • Prime Brokerage Financing, FICC/Equities Execution & Alternatives
EVIDENCE: 10-K Global Banking & Markets + Asset & Wealth Management
DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX
LIVE DB CROSS-COMPARISON
| TICKER | COMPANY | LAST | MKT CAP | GROSS MGN | OP MGN | ROIC % | EV/EBITDA | REV YOY | HEAD-TO-HEAD |
|---|---|---|---|---|---|---|---|---|---|
| GS ★ | The Goldman Sachs Group, Inc. | $894.55 | $260.83B | — | 39.7% | 17.1% | 9.2x | +17.8% | SUBJECT ISSUER |
| JPM | JPMorgan Chase & Co. | $337.04 | $900.38B | — | 42.1% | 17.4% | 9.7x | +13.5% | GS VS JPM <GO> |
| BRK-B | Berkshire Hathaway Inc. | $542.49 | $1.16T | — | 27.8% | 11.5% | 9.7x | +3.9% | GS VS BRK-B <GO> |
| COIN | Coinbase Global, Inc. | $143.54 | $37.87B | — | 3.6% | 1.4% | 121.1x | -26.6% | GS VS COIN <GO> |