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The Goldman Sachs Group, Inc. (GS) 股票估值 — PE 分析

Financial - Capital Markets · NYSE

当前价格

$1062.75

PE Ratio (TTM)

17.9x

内在价值

$1,686.75

安全边际 +37.0%

AI 护城河与风险分析

AI 生成 · 仅供参考GS

竞争护城河

↑品牌声誉卓著

高盛作为全球顶级的投资银行，其品牌在资本市场享有极高的声誉和信任度。这种强大的品牌效应吸引了大量优质客户和交易机会，是其核心竞争优势之一。

↑深厚客户关系

高盛与全球大型企业、政府机构及高净值个人建立了长期稳固的合作关系。这些关系带来了持续的业务流，并使其能够获取独家信息和交易机会。

↑人才与专业知识

公司汇聚了行业内最顶尖的金融人才，拥有深厚的专业知识和丰富的市场经验。这种人才优势使其在复杂交易和咨询服务方面保持领先地位。

投资风险

↓宏观经济波动

市场利率的快速变动和就业数据的强劲可能预示着宏观经济的不确定性。这会影响投资者的风险偏好和交易活动，从而对高盛的业务收入造成压力。

↓AI技术颠覆

人工智能的引入可能改变人才需求结构，导致部分传统岗位需求减少。高盛需要适应这一变化，否则可能面临人才结构调整的挑战。

↓IPO市场竞争

SpaceX等大型IPO的承销涉及多家投行竞争。高盛虽然参与其中，但市场对IPO规模和估值的预测存在分歧，竞争激烈可能影响其承销收益。

基准情形

GS 基准情形 PE 估值

GS 的基准情形 PE 估值估算每股公允价值约为 $1,686.75，当前股价为 $1,062.75。该模型假设盈利年增长率 15.1%、目标 P/E 倍数 18x、折现率 10%。

内在价值

$1,686.75

安全边际

+37.0%

预期年化收益

+9.7%

基准情形假设：盈利年增长率 15.1%、目标 P/E 倍数 18x、折现率 10%、预测 5 年。数据截至 2026-06-12。

本基准情形采用默认假设，不构成投资建议。当目标 PE 或盈利增长率变化时，公允价值会显著改变。打开计算器可设置你自己的假设，并查看完整的敏感性区间。

自定义 GS PE 估值

调节目标 PE、盈利增长和折现率，查看 The Goldman Sachs Group, Inc. 的公允价值与安全边际如何变化。

打开 GS PE 计算器

或试试 GS DCF 估值 →

公司简介

The Goldman Sachs Group, Inc. (GS) operates as a prominent global financial services firm, offering an extensive array of services to corporations, financial institutions, governmental bodies, and individuals worldwide. The company's operations are organized into four primary divisions: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment furnishes strategic advisory services covering intricate transactions such as mergers, acquisitions, divestitures, corporate defense strategies, restructurings, and spin-offs. It also extends various lending facilities, including middle-market, relationship, and acquisition financing, in addition to transaction banking services. This division further specializes in underwriting, assisting clients with equity offerings for common, preferred, and convertible securities, as well as debt offerings encompassing investment-grade, high-yield, bank/bridge loans, and emerging market debt instruments, alongside the creation of structured securities. Within its Global Markets division, Goldman Sachs engages in client execution activities for both cash and derivative instruments, provides solutions for credit and interest rate products, and offers comprehensive equity intermediation, financing, clearing, settlement, and custody services. This segment also transacts in products linked to mortgages, foreign exchange, commodities, and equities. The Asset Management segment is responsible for managing assets across a diverse spectrum of classes, including equities, fixed income, hedge funds, credit funds, private equity, real estate, currencies, and commodities. It delivers tailored investment advisory solutions and makes direct investments in corporate entities, real estate ventures, and infrastructure projects. The Consumer & Wealth Management segment provides individual clients with wealth advisory and banking services. These include financial planning, investment management, deposit-taking, and lending. It also offers private banking services, unsecured loans, and accepts savings and time deposits. Founded in 1869, the company's corporate headquarters are located in New York, New York.

财务指标 — GS PE 估值数据

PE Ratio (TTM)

17.9x

PEG Ratio

0.66

Earnings Yield

5.60%

ROE (TTM)

14.6%

Revenue/Share (TTM)

$364.63

Dividend Yield

1.60%

Debt/Equity

6.10x

常见问题

GS 的市盈率是多少？

GS 的过去 12 个月市盈率反映投资者为 The Goldman Sachs Group, Inc. 每一美元收益所支付的价格。该指标在与Financial - Capital Markets同类公司和公司自身历史区间对比时最有意义。

基于市盈率，GS 被高估了吗？

GS 的市盈率 17.9x 结合 PEG 比率 0.66 提供了增长调整后的视角。PEG 低于 1.0 表明 GS 相对于盈利增速可能被低估。注意 PE 估值最适合盈利稳定的成熟公司——对于高增长或周期性Financial - Capital Markets，DCF 分析可能更合适。

如何使用市盈率对 GS 进行估值？

对 The Goldman Sachs Group, Inc. 使用 PE 估值的步骤：(1) 将当前市盈率 (17.9x)与Financial - Capital Markets中位数对比评估相对定价，(2) 查看 PEG 比率 (0.66)以调整增长预期，(3) 参考 5 年 PE 历史区间判断当前位置，(4) 用目标 PE 乘以前瞻 EPS 估算公允价值。这种相对估值方法与 DCF 的绝对估值互为补充。

GS 的 PEG 比率是多少？

GS 的 PEG 比率为 0.66，由市盈率（17.9x）除以预期盈利增速计算。PEG 低于 1.0 传统上被认为是低估的信号——市场可能未充分定价增长潜力。注意 PEG 的准确性取决于增长预期的可靠性。

对 GS 应该使用 PE 还是 DCF 估值？

PE 市盈率给出快速的相对定价——GS 相对于Financial - Capital Markets同类的估值水平。DCF 基于预期自由现金流提供绝对价值。建议用 PE 做快速筛选，用 DCF 做深度分析。两种方法各有盲区：PE 忽略了资本结构和现金流质量，DCF 则对增长率和折现率假设非常敏感。

了解更多

查看 GS DCF 估值 → — 通过折现现金流分析计算内在价值
PE 方法论 — PE 市盈率估值分步指南
DCF 方法论 — 折现现金流分析指南
PE 市盈率 — 理解市盈率
内在价值 — 如何评估股票公允价值