# Goldman Sachs Stock Q3 2026: Equities Up 72% and EPS of $17.01
> Goldman Sachs stock Q3 2026: EPS of $17.01, revenue up 23% to $18.7bn, equities up 72%, $4.10trn of client assets and a 12.4% CET1 ratio. GS risks.

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## Facts
- Ticker: GS
- Price: $894.55 (as of 2026-10-30)
- As of: Q3 2026 results (quarter ended 2026-09-30, reported 2026-10-13 on Form 8-K; Form 10-Q filed 2026-11-02); price as of 2026-10-30 close
- Fiscal period: Q3 2026 (calendar)
- Published: 2026-11-02
- Updated: 2026-11-02
- Author: QSI Labs Research
- Canonical: https://www.quantitativesuperintelligencelabs.com/research/goldman-sachs-stock-q3-2026-earnings-advisory-equities/

## Short answer
Goldman Sachs stock Q3 2026 is a story of a very strong trading desk and a full price. In the three months to 30 September 2026, Goldman Sachs' net revenues rose 23% to $18.68bn, net earnings rose 29% to $5.29bn and diluted earnings per share rose to $17.01 from $12.25. Equities revenue jumped 72% to $6.44bn, investment banking fees rose 21% and Asset & Wealth Management revenue rose 14%. Our free-cash-flow-to-equity model values Goldman Sachs at $819.06 a share, 8.4% below the $894.55 close on 30 October 2026, so on our assumptions the shares already price in more than the quarter showed.

## Key takeaways
- Revenue up 23%, EPS up 39%. Q3 2026 net revenues were $18,679m against $15,184m a year earlier. Net earnings rose to $5,294m from $4,098m and diluted EPS to $17.01 from $12.25. The firm calls it its second highest quarterly net revenues, and says nine-month net revenues of $56,244m are a record for the period (8-K Ex 99.1; 8-K Ex 99.2).
- Equities did the heavy lifting. Global Banking & Markets revenue rose 32% to $13,458m. Equities revenue was $6,441m, up 72%, with financing revenue nearly doubling; FICC was flat at $3,471m and investment banking fees rose 21% to $3,224m (8-K Ex 99.1).
- Asia revenue up 90%. Revenue booked in Asia rose to $3,800m from $2,001m, a fifth of the firm's total (8-K Ex 99.1).
- Asset management fees rising. Management and other fees were $3,587m, up 22%, and assets under supervision reached $4.10trn, both described by Goldman as records (8-K Ex 99.2).
- Capital working harder. The Standardized CET1 ratio fell to 12.4% from 14.3% at the end of 2025, 1.0 point above the 11.4% requirement. The firm returned $4.49bn to shareholders in the quarter, including $3.00bn of buybacks at an average of $1,048.73 a share (8-K Ex 99.1; Form 10-Q).
- Our value: $819.06 a share, 8.4% below the $894.55 close on 30 October 2026, and up from $813.62 in our previous estimate. The average of the analyst price targets we track is $1,031 (StockAnalysis, S&P Global data).
- What to watch. Fourth-quarter results in January 2027, where consensus 2026 EPS of $71.50 implies about $16 a share for the quarter, and whether the investment banking backlog, which fell in the third quarter, recovers.

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