Goldman Sachs Group stock split: what it means for traders
Goldman Sachs’s share price has evolved over time alongside its strategy, earnings performance and market conditions, yet the company remains one of the few major US financial institutions that has never carried out a stock split.
Goldman Sachs (GS) is one of the best-known financial institutions on the New York Stock Exchange (NYSE). Its share price has moved over time in line with the firm’s strategy, earnings performance and broader market conditions. Unlike many large US companies, though, it has never split its primary common stock.
Explore what a stock split is, Goldman Sachs’s approach, and the latest developments in its share structure, earnings and upcoming disclosures.
Goldman Sachs (GS) live share price
Past performance is not a reliable indicator of future results.
What is a stock split?
A stock split is a corporate action that increases the number of a company’s shares while reducing the price per share by the same proportion. The company’s total market value remains unchanged because each investor’s overall holding retains the same value.
For example, in a 2-for-1 split you’d receive two shares for every one you previously held, and the share price would adjust to around half its prior level. The aim is often to improve perceived accessibility and support liquidity, although a split doesn’t change the underlying fundamentals.
Goldman Sachs’s stock split status
Goldman Sachs has never carried out a stock split on its NYSE-listed common shares (ticker: GS). As of 15 December 2025, there’s no split ratio, no historical split and therefore no 'latest' split to report.
Some related instruments, including US preferred share lines (such as GS-PD) and overseas depositary receipts, also show no split activity. One exception is the Brazilian depositary receipt GSGI34, which undertook a 3-for-1 technical split on 21 November 2022. This action was taken by the local sponsor of that instrument and had no impact on GS common stock.
In practical terms, anyone analysing GS’s capital structure today is working with a share base that hasn’t been adjusted through splits since the company listed.
Why hasn’t Goldman Sachs conducted a share split?
Public filings and proxy materials point to a long-standing approach of allowing the share price to trade at higher nominal levels. Instead of adjusting the share count, the firm has focused on broader drivers of shareholder value, such as earnings performance, operational efficiency and dividend activity.
The 2025 proxy statement notes multi-year stock price performance and total shareholder return without referencing prior or potential splits. This aligns with a strategy that doesn’t rely on nominal price changes to influence accessibility.
Companies may also maintain higher share prices because of their investor base or brand positioning, particularly when institutional ownership is significant. While Goldman Sachs hasn’t made specific statements linking its policy to these factors, the absence of any historical split places it among a small group of major financial firms that haven’t adjusted their share count in this way.
Will Goldman Sachs split again in 2026?
A future split would be the first in the history of GS’s NYSE-listed common stock. As of 15 December 2025, there’s no public guidance, board communication or regulatory filing suggesting a split in 2026.
Market commentary often speculates about potential splits when a share price reaches historic highs. However, speculation isn’t corporate guidance. Goldman Sachs hasn’t indicated that share accessibility or retail liquidity are factors shaping short-term capital decisions.
Those monitoring the topic may look to upcoming proxy statements or earnings disclosures, which are typical channels for announcing changes to capital structure if the board chooses to act.
Goldman Sachs stock split history
The split history of Goldman Sachs’s US-listed common stock is simple: none to date.
| Instrument / ticker | Listing / market | Recorded stock splits | Notes |
|---|---|---|---|
| GS (common stock) | NYSE (US) | 0 | Main Goldman Sachs equity; no split history. |
| GS-PD (preferred) | US preferred share line | 0 | Separate instrument; no splits. |
| GSGI34 | B3 (Brazil) | 3-for-1 split (2022) | Technical split of the local DR; no impact on underlying GS stock. |
Because no split has occurred in the underlying US shares, a hypothetical early holding would show no change in share count on a split-adjusted basis.
Latest earnings: Goldman Sachs FY2025 to date
Goldman Sachs’s most recent results cover the third quarter and first nine months of 2025. Key figures include:
- Q3 2025 net revenues: approximately $15.18bn.
- Q3 net earnings: around $4.10bn.
- Diluted Q3 EPS: roughly $12.25.
- Annualised return on equity (ROE): about 14.2%.
- Year-to-date (YTD) net revenues: around $44.83bn.
- YTD diluted EPS: approximately $37.33.
The firm reported continued strength across investment banking, trading, asset and wealth management, alongside efficiency initiatives. Disclosures also highlight solid capital and liquidity positions for 2025, which form part of the broader context in which future capital decisions – such as buybacks or dividend adjustments – may be assessed.
Outlook and upcoming developments
Goldman Sachs’s forward-looking commentary places emphasis on its core businesses, supported by technology-driven efficiency and cost management. As 2025 moves into 2026, several areas may be relevant for traders following GS:
- Future earnings releases: Quarterly updates will provide insight into revenue mix, margins and segment trends.
- Capital actions: Any changes to dividends or share buyback authorisations would typically appear in filings or earnings materials.
- Strategic initiatives: Management commentary may highlight developments across investment banking, trading, asset and wealth management, regional expansion or platform improvements.
- Regulatory and shareholder disclosures: Proxy statements and SEC filings remain the key channels for any discussion of capital structure, including the possibility of share-related corporate actions.
As always, past performance isn’t a reliable indicator of future results, and corporate decisions may evolve in response to market conditions and internal priorities.
Summary
- Goldman Sachs has never split its NYSE-listed common stock.
- As of December 2025, no 2026 split has been announced or indicated.
- The Brazilian DR GSGI34 underwent a 3-for-1 technical split in 2022, unrelated to GS common shares.
- FY2025-to-date results show strong revenue and earnings contributions across core business lines.
- Key upcoming developments include future earnings releases, capital actions and strategic updates.
FAQ
How can I trade Goldman Sachs CFDs on Capital.com?
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