Goldman Sachs vs JPMorgan Chase
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KIRAβs take AI analyst
I put Goldman Sachs and JPMorgan Chase side by side, using each oneβs latest annual report. Here is what stands out:
- JPMorgan Chase is the larger business, with $182.4B of revenue in fiscal 2025 against $58.3B for Goldman Sachs, about 3.1 times as much.
- Goldman Sachs grew revenue faster (8.9%, against 2.8%).
- Investors pay more for each dollar of JPMorgan Chaseβs earnings: a P/E of 14.4x against 14.1x for Goldman Sachs.
Who comes out ahead
Of the 5 measures where higher (or lower) is clearly better, how many each company leads.
Goldman Sachs
GS
2/5
Revenue growthShare count change
JPMorgan Chase
JPM
3/5
5-year growthNet marginReturn on equity
Side by side
Best in the row
| Latest fiscal year | GS FY25 | JPM FY25 |
|---|---|---|
| Size | ||
| Market cap | $289.6B | $934.0B |
| Revenue | $58.3B | $182.4B |
| Free cash flow | β | β |
| Net income | $17.2B | $57.0B |
| Growth | ||
| Revenue growth | 8.9% | 2.8% |
| 5-year growth | 5.5% | 8.8% |
| Share count change | β4.8% | β3.4% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 29.5% | 31.3% |
| FCF margin | β | β |
| Return on capital | β | β |
| Return on equity | 13.9% | 16.1% |
| Balance sheet | ||
| Net debt | β | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $17.6B | $48.2B |
| Valuation & quality | ||
| P/E | 14.1x | 14.4x |
| Piotroski F-score | β | β |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.