GS DCF

Company Code
Company Code GS GNL

Company Name The Goldman Sachs Group, Inc. GNLN
Denominator 1,000,000 GNPX
GNRC
Profile
Symbol Price Beta Volavg Mktcap Lastdiv
GS 289.91 1.424 1836509 95574921929 11
Income Statement - FY
Date Symbol ReportedcurrenCik Fillingdate Accepteddate
2022-12-31 GS USD 886982 2023-02-24 ###
2021-12-31 GS USD 886982 2022-02-25 ###
2020-12-31 GS USD 886982 2021-02-22 ###
2019-12-31 GS USD 886982 2020-02-21 ###
2018-12-31 GS USD 886982 2019-02-26 ###
2017-12-31 GS USD 886982 2018-02-26 ###
2016-12-31 GS USD 886982 2017-02-27 ###
2015-12-31 GS USD 886982 2016-02-22 ###
2014-12-31 GS USD 886982 2014-12-31 ###
2013-12-31 GS USD 886982 2013-12-31 ###
Balance Sheet - FY
2022-12-31 GS USD 886982 2023-02-24 ###
2021-12-31 GS USD 886982 2022-02-25 ###
2020-12-31 GS USD 886982 2021-02-22 ###
2019-12-31 GS USD 886982 2020-02-21 ###
2018-12-31 GS USD 886982 2019-02-26 ###
2017-12-31 GS USD 886982 2018-02-26 ###
2016-12-31 GS USD 886982 2017-02-27 ###
2015-12-31 GS USD 886982 2016-02-22 ###
2014-12-31 GS USD 886982 2014-12-31 ###

2013-12-31 GS USD 886982 2013-12-31 ###
Cash Flow - FY
2022-12-31 GS USD 886982 2023-02-24 ###
2021-12-31 GS USD 886982 2022-02-25 ###
2020-12-31 GS USD 886982 2021-02-22 ###
2019-12-31 GS USD 886982 2020-02-21 ###
2018-12-31 GS USD 886982 2019-02-26 ###
2017-12-31 GS USD 886982 2018-02-26 ###
2016-12-31 GS USD 886982 2017-02-27 ###
2015-12-31 GS USD 886982 2016-02-22 ###
2014-12-31 GS USD 886982 2014-12-31 ###
2013-12-31 GS USD 886982 2013-12-31 ###
Ratios - FY
Symbol Date Calendaryear Period Currentratio Quickratio
GS 2022-12-31 2022 FY 1.2188512786 2.2223135109
GS 2021-12-31 2021 FY 1.4114548495 1.4114548495
GS 2020-12-31 2020 FY 1.1374016393 1.1374016393
GS 2019-12-31 2019 FY 0.932735426 0.932735426
GS 2018-12-31 2018 FY 2.8325791855 2.8325791855
GS 2017-12-31 2017 FY 0.8502668895 0.8502668895
Income Statement - Q
2023-09-30 GS USD 886982 2023-09-30 ###
2023-06-30 GS USD 886982 2023-08-03 ###

2023-03-31 GS USD 886982 2023-05-04 ###
2022-12-31 GS USD 886982 2023-02-24 ###
2022-09-30 GS USD 886982 2022-11-03 ###
2022-06-30 GS USD 886982 2022-08-04 ###
2022-03-31 GS USD 886982 2022-05-02 ###
2021-12-31 GS USD 886982 2022-02-25 ###
2021-09-30 GS USD 886982 2021-11-01 ###
2021-06-30 GS USD 886982 2021-08-04 ###
2021-03-31 GS USD 886982 2021-05-04 ###
2020-12-31 GS USD 886982 2021-02-22 ###
Cash Flow - Q
2023-06-30 GS USD 886982 2023-08-03 ###
2023-03-31 GS USD 886982 2023-05-04 ###
2022-12-31 GS USD 886982 2023-02-24 ###
2022-09-30 GS USD 886982 2022-11-03 ###
2022-06-30 GS USD 886982 2022-08-04 ###
2022-03-31 GS USD 886982 2022-05-02 ###
2021-12-31 GS USD 886982 2022-02-25 ###
2021-09-30 GS USD 886982 2021-11-01 ###
2021-06-30 GS USD 886982 2021-08-04 ###
2021-03-31 GS USD 886982 2021-05-04 ###
2020-12-31 GS USD 886982 2021-02-22 ###
2020-09-30 GS USD 886982 2020-11-02 ###
Balance Sheet - Q
2023-09-30 GS USD 886982 2023-09-30 ###
2023-06-30 GS USD 886982 2023-08-03 ###
2023-03-31 GS USD 886982 2023-05-04 ###
2022-12-31 GS USD 886982 2023-02-24 ###
2022-09-30 GS USD 886982 2022-11-03 ###
2022-06-30 GS USD 886982 2022-08-04 ###
2022-03-31 GS USD 886982 2022-05-02 ###
2021-12-31 GS USD 886982 2022-02-25 ###
2021-09-30 GS USD 886982 2021-11-01 ###
2021-06-30 GS USD 886982 2021-08-04 ###
2021-03-31 GS USD 886982 2021-05-04 ###
2020-12-31 GS USD 886982 2021-02-22 ###
Treasury rates
2023-10-14 2023 10 14
Date Month1 Month2 Month3 Month6 Year1
2023-10-27 5.57 5.57 5.59 5.55 5.39
2023-10-26 5.57 5.57 5.59 5.55 5.39
2023-10-25 5.56 5.57 5.59 5.57 5.43
2023-10-24 5.57 5.57 5.58 5.57 5.41
2023-10-23 5.57 5.57 5.58 5.56 5.42
2023-10-20 5.56 5.56 5.58 5.54 5.41
2023-10-19 5.58 5.57 5.6 5.56 5.44
2023-10-18 5.57 5.56 5.61 5.58 5.47
2023-10-17 5.58 5.58 5.62 5.6 5.48
2023-10-16 5.57 5.58 5.61 5.58 5.42

Market Risk Premium
Country Continent Totalequityrisk Countryriskpremium
Abu Dhabi 5.75 0.75
British Virgin Islands North America 17.13 11.19
Bulgaria Europe 7.43 2.43
Burkina Faso Africa 16.38 11.38
Cambodia Asia 13.35 8.35
Cameroon Africa 13.35 8.35
Channel Islands Africa 7.45 1.51
Chile South America 6.28 1.28
China Asia 6.07 1.07
Colombia South America 7.89 2.89
Congo (Democratic Republic ofSouth America 14.86 9.86
Congo (Republic of) South America 18.66 13.66
Cook Islands Oceania 13.35 8.35
Costa Rica North America 13.35 8.35
Côte d'Ivoire Africa 10.46 5.46
Croatia Europe 7.89 2.89
Cuba North America 23.21 18.21
Curacao North America 7.89 2.89
Cyprus Asia 8.8 3.8
Czech Republic Europe 5.91 0.91
Laos Asia 20.18 15.18
Latvia Europe 6.82 1.82
Lebanon Asia 29.82 24.82
Liberia Africa 20.18 15.18
Libya Africa 7.89 2.89
Liechtenstein Europe 5 0
Macao Asia 5.91 0.91

Yemen, Republic Asia 20.18 15.18
Zimbabwe Africa 16.38 11.38
Jersey Europe 4.24 0
Denmark Europe 5 0
Dominican Republic North America 10.46 5.46
Ecuador South America 20.18 15.18
Egypt Africa 14.86 9.86
El Salvador North America 20.18 15.18
Estonia Europe 6.07 1.07
Ethiopia Africa 18.66 13.66
Fiji Oceania 11.83 6.83
Finland Europe 5.61 0.61
Guyana South America 7.43 2.43
Haiti North America 23.21 18.21
Honduras North America 11.83 6.83
Hong Kong Asia 5.91 0.91
Hungary Europe 7.89 2.89
Iceland Europe 6.28 1.28
Falkland Islands South America 12.51 6.57
India Asia 8.33 3.33
Indonesia Asia 7.89 2.89
Iraq Asia 16.38 11.38
Ireland Europe 5.91 0.91
Isle of Man Europe 5.91 0.91
Israel Asia 6.07 1.07
Italy Europe 8.33 3.33
Jamaica North America 13.35 8.35
Japan Asia 6.07 1.07
Jordan Asia 11.83 6.83
Kazakhstan Asia 7.89 2.89

Kenya Africa 14.86 9.86
Korea, D.P.R. Africa 23.21 18.21
Kuwait Asia 6.07 1.07
Kyrgyzstan Asia 14.86 9.86
Ivory Coast Africa 12.15 6.21
Albania Europe 11.83 6.83
Algeria Africa 10.46 5.46
Canada North America 5 0
Cape Verde Africa 14.86 9.86
Cayman Islands North America 5.91 0.91
France Europe 5.75 0.75
French Guiana South America 12.51 6.57
Gabon Africa 16.38 11.38
Gambia Africa 13.35 8.35
Georgia Asia 9.57 4.57
Germany Europe 5 0
Uruguay South America 7.89 2.89
Gibraltar Europe 7.45 1.51
Uzbekistan Asia 10.46 5.46
Greenland North America 7.45 1.51
Venezuela South America 29.82 24.82
Vietnam Asia 9.57 4.57
Zambia Africa 23.21 18.21
Guernsey Europe 4.84 0.6
Ghana Africa 23.21 18.21
Greece Europe 10.46 5.46
Guatemala North America 8.8 3.8
Guernsey (States of) North America 5.75 0.75
Guinea Africa 18.66 13.66
Guinea-Bissau Africa 13.35 8.35

Jersey (States of) Africa 5.91 0.91
Korea Africa 5.75 0.75
Lithuania Europe 6.28 1.28
South Korea Asia 6.79 0.85
Luxembourg Europe 5 0
Macedonia Europe 10.46 5.46
Madagascar Africa 14.86 9.86
Malawi Africa 23.21 18.21
Malaysia Asia 6.82 1.82
Maldives Asia 16.38 11.38
South Africa Africa 9.57 4.57
Sri Lanka Asia 23.21 18.21
St. Maarten Asia 9.57 4.57
St. Vincent & the Grenadines Asia 14.86 9.86
Sudan Africa 29.82 24.82
Suriname South America 20.18 15.18
Swaziland Africa 14.86 9.86
Sweden Europe 5 0
Switzerland Europe 5 0
Syria Asia 29.82 24.82
Taiwan Asia 5.91 0.91
Tajikistan Asia 14.86 9.86
Tanzania Africa 13.35 8.35
Thailand Asia 7.43 2.43
Togo Africa 14.86 9.86
Trinidad and Tobago North America 9.57 4.57
Tunisia Africa 18.66 13.66
Turkey Asia 14.86 9.86
Turks and Caicos Islands North America 7.43 2.43
Yemen Asia 30.63 24.69

Uganda Africa 13.35 8.35
Ukraine Europe 23.21 18.21
United Arab Emirates Asia 5.75 0.75
United Kingdom Europe 5.91 0.91
United States North America 5 0
Andorra (Principality of) North America 7.89 2.89
Angola Africa 14.86 9.86
Iran Asia 14.86 9.86
Anguilla North America 17.13 11.19
Antigua & Barbuda North America 17.13 11.19
Argentina South America 23.21 18.21
Armenia Asia 10.46 5.46
Aruba North America 7.89 2.89
Australia Oceania 5 0
Austria Europe 5.61 0.61
Azerbaijan Asia 8.8 3.8
Bahamas North America 11.83 6.83
Bahrain Asia 13.35 8.35
Bangladesh Asia 11.83 6.83
Barbados North America 16.38 11.38
Belarus Europe 29.82 24.82
Belgium Europe 5.91 0.91
Belize North America 18.66 13.66
Benin Africa 11.83 6.83
Bermuda North America 6.28 1.28
Bolivia South America 16.38 11.38
Bosnia and Herzegovina Europe 14.86 9.86
Botswana Africa 6.82 1.82
Brazil South America 9.57 4.57
Brunei Asia 5.91 0.91

Martinique North America 17.13 11.19
Mali Africa 18.66 13.66
Malta Europe 6.28 1.28
Mauritius Africa 8.33 3.33
Mexico North America 7.89 2.89
Moldova Europe 14.86 9.86
Mongolia Asia 14.86 9.86
Netherlands Antilles Asia 17.13 11.19
Montenegro Europe 11.83 6.83
Montserrat North America 8.33 3.33
Morocco Africa 8.8 3.8
Mozambique Africa 18.66 13.66
Myanmar Asia 20.18 15.18
Namibia Africa 11.83 6.83
Netherlands Europe 5 0
Palestinian Authority Europe 8.45 2.51
New Zealand Oceania 5 0
Nicaragua North America 14.86 9.86
Niger Africa 14.86 9.86
Nigeria Africa 16.38 11.38
Norway Europe 5 0
Oman Asia 9.57 4.57
Pakistan Asia 20.18 15.18
Panama North America 7.89 2.89
Papua New Guinea Oceania 13.35 8.35
Reunion Oceania 7.45 1.51
Paraguay South America 8.8 3.8
Peru South America 7.43 2.43
Philippines Asia 7.89 2.89
Saint Lucia North America 17.13 11.19

Poland Europe 6.28 1.28
Portugal Europe 7.89 2.89
Qatar Asia 5.91 0.91
Ras Al Khaimah (Emirate of) Asia 6.82 1.82
Romania Europe 8.33 3.33
Russia Europe 23.21 18.21
Rwanda Africa 13.35 8.35
Saudi Arabia Asia 6.07 1.07
Senegal Africa 10.46 5.46
Serbia Europe 9.57 4.57
Sharjah Europe 8.8 3.8
Sierra Leone Africa 23.21 18.21
Singapore Asia 5 0
Slovakia Europe 6.28 1.28
Slovenia Europe 6.82 1.82
Solomon Islands Oceania 16.38 11.38
Somalia Africa 23.21 18.21
Spain Europe 7.43 2.43

Range Changes Companyname Currency Cik Isin Cusip
289.3568-389.5-7.08 The Goldman Sa

USD 886982 US38141G104 38141G104
Calendaryear Period Revenue Costofrevenue Grossprofit GrossprofitratioResearchandde
2022 FY 47365000000 16174000000 31191000000 0.6585242267 0
2021 FY 59339000000 18700000000 40639000000 0.6848615582 0
2020 FY 40419000000 14269000000 26150000000 0.6469729583 0
2019 FY 33294000000 13382000000 19912000000 0.5980657175 0
2018 FY 33416000000 13137000000 20279000000 0.6068649749 0
2017 FY 29533000000 12586000000 16947000000 0.5738326618 0
2016 FY 28053000000 12435000000 15618000000 0.5567319003 0
2015 FY 31244000000 13450000000 17794000000 0.5695173473 0
2014 FY 31757000000 0 31757000000 1 0
2013 FY 31865000000 0 31865000000 1 0
Calendaryear Period Cashandcashequ

ShortterminvestCashandshortteNetreceivables Inventory
2022 FY 466942000000 130629000000 597571000000 135448000000 0
2021 FY 261000000000 25000000 261025000000 1.61E+11 0
2020 FY 156000000000 526000000 156526000000 1.21E+11 0
2019 FY 133000000000 0 133000000000 75000000000 0
2018 FY 130000000000 0 130000000000 4.96E+11 0
2017 FY 110051000000 0 110051000000 94002000000 0
2016 FY 121711000000 0 121711000000 74921000000 0
2015 FY 75105000000 56838000000 75105000000 82739000000 0
2014 FY 57600000000 0 57600000000 1.03214E+11 0

2013 FY 61133000000 0 61133000000 1.21295E+11 0
Calendaryear Period Netincome DepreciationandDeferredincomeStockbasedcomChangeinworking
2022 FY 11261000000 2455000000 -2412000000 4083000000 -9394000000
2021 FY 21635000000 2015000000 5000000 2348000000 -25439000000
2020 FY 9459000000 1902000000 -833000000 1920000000 -29273000000
2019 FY 8466000000 1704000000 -334000000 2018000000 10969000000
2018 FY 10459000000 1328000000 -2645000000 1831000000 8934000000
2017 FY 4286000000 1152000000 5458000000 1769000000 -30293000000
2016 FY 7398000000 998000000 551000000 2111000000 -5491000000
2015 FY 6083000000 991000000 425000000 2272000000 -2776000000
2014 FY 8477000000 1337000000 495000000 2085000000 -19728000000
2013 FY 8040000000 1322000000 29000000 2015000000 -6652000000
Cashratio DaysofsalesoutsDaysofinventoryOperatingcycle DaysofpayablesCashconversionGrossprofitmarg
1.4156406797 1043.7774728 0 1043.7774728 5912.5757388 -4868.798266 0.6585242267
0.872909699 990.32676654 0 990.32676654 4918.7165775 -3928.389811 0.6848615582
0.6393442623 1092.6791855 0 1092.6791855 4885.7663466 -3793.087161 0.6469729583
0.5964125561 822.22021986 0 822.22021986 4773.2028097 -3950.98259 0.5980657175
0.5882352941 5417.7639454 0 5417.7639454 5001.1418132 416.62213222 0.6068649749
0.4585706726 1161.7759794 0 1161.7759794 5162.0848562 -4000.308877 0.5738326618
Calendaryear Period Revenue Costofrevenue Grossprofit GrossprofitratioResearchandde
2023 Q3 11817000000 0 11817000000 1 0
2023 Q2 10895000000 3872000000 7023000000 0.6446076182 0

2023 Q1 12224000000 4355000000 7869000000 0.6437336387 0
2022 Q4 10593000000 16174000000 -5581000000 -0.5268573586 0
2022 Q3 11975000000 3861000000 8114000000 0.6775782881 0
2022 Q2 11864000000 3954000000 7910000000 0.6667228591 0
2022 Q1 12933000000 4334000000 8599000000 0.6648882703 0
2021 Q4 12639000000 18700000000 -6061000000 -0.479547433 0
2021 Q3 13608000000 3406000000 10202000000 0.7497060553 0
2021 Q2 15388000000 5504000000 9884000000 0.6423186899 0
2021 Q1 17704000000 6290000000 11414000000 0.6447130592 0
2020 Q4 10655000000 14269000000 -3614000000 -0.339183482 0
Calendaryear Period Netincome DepreciationandDeferredincomeStockbasedcomChangeinworking
2023 Q2 1216000000 1594000000 0 239000000 28237000000
2023 Q1 3234000000 970000000 0 1541000000 3830000000
2022 Q4 1326000000 727000000 -2412000000 272000000 -15882000000
2022 Q3 3069000000 666000000 0 300000000 3633000000
2022 Q2 2927000000 570000000 0 383000000 33927000000
2022 Q1 3939000000 492000000 0 3128000000 -31072000000
2021 Q4 3935000000 488000000 5000000 207000000 19918000000
2021 Q3 5378000000 509000000 0 180000000 -45502000000
2021 Q2 5486000000 520000000 0 202000000 14351000000
2021 Q1 6836000000 498000000 0 1759000000 -14206000000
2020 Q4 4506000000 498000000 -833000000 183000000 11367000000
2020 Q3 3367000000 468000000 0 157000000 30666000000
Calendaryear Period Cashandcashequ

ShortterminvestCashandshortteNetreceivables Inventory
2023 Q3 240000000000 0 240000000000 141000000000 0
2023 Q2 271000000000 30086000000 271000000000 157000000000 0
2023 Q1 229000000000 414000000000 656000000000 145000000000 0
2022 Q4 466942000000 130629000000 597571000000 135448000000 0
2022 Q3 466753000000 126963000000 593716000000 1.65421E+11 0
2022 Q2 527623000000 114775000000 642398000000 163251000000 0
2022 Q1 536224000000 92084000000 628308000000 1.74637E+11 0
2021 Q4 261036000000 25000000 261061000000 1.70192E+11 0
2021 Q3 211830000000 -71877000000 211830000000 1.83055E+11 0
2021 Q2 240289000000 526000000 240815000000 1.7208E+11 0
2021 Q1 191155000000 529000000 191684000000 1.72905E+11 0
2020 Q4 156000000000 526000000 156368000000 1.28387E+11 0
Year2 Year3 Year5 Year7 Year10 Year20 Year30
4.99 4.84 4.76 4.83 4.84 5.19 5.03
5.02 4.89 4.79 4.86 4.86 5.19 5.01
5.08 4.98 4.89 4.98 4.95 5.27 5.09
5.02 4.91 4.82 4.86 4.83 5.15 4.96
5.05 4.89 4.81 4.87 4.86 5.19 5.01
5.07 4.93 4.86 4.93 4.93 5.27 5.09
5.14 5.01 4.95 5 4.98 5.3 5.11
5.19 5.03 4.92 4.95 4.91 5.2 5
5.19 5.01 4.86 4.88 4.83 5.14 4.94
5.09 4.87 4.72 4.74 4.71 5.06 4.87

Exchange Exchangeshort Industry Website Description Ceo Sector
New York StockNYSE Capital Markets https://www.goldmansachs.com

The Goldman Sach
Mr. David Sol Financial Servic
GeneralandadmiSellingandmark Sellinggenerala Otherexpenses OperatingexpenCostandexpensInterestincome
15148000000 812000000 15960000000 13103000000 31164000000 31164000000 29024000000
17719000000 553000000 18272000000 -50567000000 -32295000000 -32295000000 12120000000
13309000000 401000000 13710000000 -41650000000 -27940000000 -27940000000 13689000000
12353000000 739000000 13092000000 -35803000000 -22711000000 -22711000000 21738000000
12328000000 740000000 13068000000 -18091000000 -5023000000 -5023000000 19679000000
11853000000 588000000 12441000000 19976000000 20941000000 33527000000 13113000000
11647000000 457000000 12104000000 19422000000 20304000000 32739000000 9691000000
12678000000 557000000 13235000000 10629000000 11592000000 25042000000 8452000000
12691000000 549000000 13240000000 -27083000000 -13843000000 -13843000000 9604000000
12789000000 541000000 13330000000 -26790000000 -13460000000 -13460000000 10060000000
OthercurrentassTotalcurrentass PropertyplanteqGoodwill IntangibleassetsGoodwillandintaLongterminvest
0 402032000000 19246000000 6374000000 2009000000 8383000000 432000000000
0 422025000000 20386000000 4285000000 418000000 4703000000 464000000000
0 277526000000 25427000000 4332000000 630000000 4962000000 483000000000
0 208000000000 24246000000 4196000000 641000000 4837000000 419000000000
0 626000000000 18317000000 3758000000 324000000 4082000000 336161000000
0 204053000000 15094000000 3665000000 373000000 4038000000 315988000000
0 196632000000 12070000000 3666000000 429000000 4095000000 296171000000
0 157844000000 9956000000 3657000000 491000000 4148000000 294198000000
0 160814000000 9344000000 3645000000 515000000 4160000000 312608000000

0 182428000000 9196000000 3705000000 671000000 4376000000 339538000000
AccountsreceivaInventory AccountspayablOtherworkingcap
Othernoncashit NetcashprovidedInvestmentsinpr
0 0 0 -9394000000 2715000000 8708000000 -3748000000
0 0 0 -25439000000 357000000 921000000 -4667000000
0 0 0 -29273000000 3097000000 -13728000000 -6309000000
0 0 0 10969000000 1045000000 23868000000 -8443000000
0 0 0 8934000000 514000000 20421000000 -7982000000
0 0 0 -30293000000 -114000000 -17742000000 -3185000000
0 0 0 -5491000000 3000000 5570000000 -2876000000
0 0 0 -2776000000 -34000000 6961000000 -1833000000
0 0 0 -19728000000 -289000000 -7623000000 -678000000
0 0 1631000000 -8283000000 -211000000 4543000000 -706000000
Operatingprofit PretaxprofitmargNetprofitmargin Effectivetaxrate ReturnonassetsReturnonequity Returnoncapita
0.7353953341 0.2847250079 0.237749393 0.1649859113 0.0078092926 0.0962478632 0.0313193754
0.4557542257 0.4557542257 0.3646000101 0.2000073954 0.0147881066 0.1966818182 0.023233677
0.3087409387 0.3087409387 0.2340236028 0.242006571 0.008133276 0.09853125 0.0135788901
0.3178650808 0.3178650808 0.2542800505 0.2000377965 0.0085256798 0.0940666667 0.0137441558
0.8496827867 0.3735037108 0.3129937754 0.1620062495 0.011210075 0.1162111111 0.039877809
0.7216672874 0.3769342769 0.1451257915 0.6149838304 0.0046739368 0.0522682927 0.0314809317
GeneralandadmiSellingandmark Sellinggenerala Otherexpenses OperatingexpenCostandexpensInterestincome
4188000000 136000000 4324000000 -13385000000 -9061000000 -9061000000 18257000000
3619000000 146000000 3765000000 -12924000000 -9159000000 -9159000000 16836000000

4090000000 172000000 4262000000 3664000000 4047000000 8402000000 14938000000
3764000000 216000000 3980000000 9725000000 31164000000 23460000000 12411000000
3606000000 199000000 3805000000 3378000000 7704000000 7704000000 8550000000
3695000000 235000000 3930000000 7163000000 7653000000 11607000000 4851000000
4083000000 162000000 4245000000 2945000000 3382000000 7716000000 3212000000
3246000000 193000000 3439000000 45123000000 31938000000 50638000000 3010000000
3167000000 165000000 3332000000 2752000000 3185000000 6591000000 3117000000
5263000000 115000000 5378000000 2792000000 3136000000 8640000000 2939000000
6043000000 80000000 6123000000 2787000000 3147000000 9437000000 3054000000
2479000000 89000000 2568000000 38819000000 28983000000 43252000000 2973000000
AccountsreceivaInventory AccountspayablOtherworkingcap
Othernoncashit NetcashprovidedInvestmentsinpr
0 0 0 28237000000 615000000 31901000000 -666000000
0 0 0 3830000000 -171000000 9404000000 -597000000
0 0 0 -15882000000 972000000 -14997000000 -754000000
0 0 0 3633000000 515000000 8183000000 -990000000
0 0 0 33927000000 667000000 38474000000 -1051000000
0 0 0 -31072000000 561000000 -22952000000 -953000000
0 0 0 19918000000 344000000 24897000000 -1119000000
0 0 0 -45502000000 175000000 -39260000000 -883000000
0 0 0 14351000000 -92000000 20467000000 -1353000000
0 0 0 -14206000000 -70000000 -5183000000 -1312000000
0 0 0 11367000000 293000000 16014000000 -1403000000
0 0 0 30666000000 278000000 34936000000 -998000000
OthercurrentassTotalcurrentass PropertyplanteqGoodwill IntangibleassetsGoodwillandintaLongterminvest

0 381000000000 0 0 0 0 594000000000
0 428000000000 17617000000 5942000000 1921000000 7863000000 538000000000
0 374000000000 18609000000 6439000000 1965000000 8404000000 539000000000
0 402032000000 19246000000 6374000000 2009000000 8383000000 432000000000
0 469647000000 19234000000 6288000000 1963000000 8251000000 511000000000
0 467007000000 20705000000 6196000000 2014000000 8210000000 487000000000
0 459764000000 20625000000 5272000000 1209000000 6481000000 484000000000
0 431253000000 20386000000 4285000000 418000000 4703000000 464000000000
0 394885000000 20459000000 4326000000 497000000 4823000000 480000000000
0 412895000000 23140000000 4332000000 523000000 4855000000 467000000000
0 364589000000 24757000000 4332000000 575000000 4907000000 463000000000
0 284755000000 25427000000 4332000000 630000000 4962000000 483000000000

Country Fulltimeemploy Phone Address City State Zip
US 45900 212-902-1000 200 West StreetNew York NY 10282
InterestexpenseDepreciationandEbitda Ebitdaratio OperatingincomOperatingincome

Totalotherinco
21346000000 2455000000 37287000000 0.7872268553 34832000000 0.7353953341 -21346000000
5650000000 2015000000 29059000000 0.4897116568 27044000000 0.4557542257 704000000
8938000000 1902000000 14381000000 0.3557980158 12479000000 0.3087409387 -1367000000
17376000000 1704000000 12287000000 0.3690454737 10583000000 0.3178650808 14562000000
15912000000 1328000000 29721000000 0.8894242279 28393000000 0.8496827867 -15912000000
10181000000 1152000000 22465000000 0.7606744997 21313000000 0.7216672874 -10181000000
7104000000 998000000 18406000000 0.6561152105 17408000000 0.6205396927 -7104000000
5388000000 991000000 15157000000 0.4851171425 14166000000 0.4533990526 -5388000000
5557000000 1337000000 19251000000 0.6061970589 17914000000 0.5640961048 -5557000000
6668000000 1322000000 19727000000 0.6190804958 18405000000 0.5775929703 -6668000000
Taxassets OthernoncurrentTotalnoncurrentOtherassets Totalassets AccountpayableShorttermdebt
0 -59539000000 400090000000 639878000000 1.442E+12 262000000000 61000000000
0 -4.89089E+11 489089000000 551886000000 1.463E+12 252000000000 47000000000
0 -5.13389E+11 513389000000 372085000000 1.163E+12 191000000000 53000000000
0 -4.48083E+11 448083000000 336917000000 993000000000 175000000000 48000000000
0 -3.5856E+11 358560000000 -51560000000 933000000000 180000000000 41000000000
0 -3.3512E+11 335120000000 377827000000 917000000000 178000000000 61818000000
0 -3.12336E+11 312336000000 351197000000 860165000000 188455000000 52383000000
0 -3.08302E+11 308302000000 395249000000 861395000000 210362000000 57020000000
0 -3.26112E+11 326112000000 369314000000 856240000000 213572000000 60100000000

0 -3.5311E+11 353110000000 375969000000 911507000000 204765000000 61982000000
Acquisitionsnet Purchasesofinv Salesmaturities OtherinvestingacNetcashusedforiDebtrepayment Commonstockis
-2115000000 -60536000000 12961000000 -22522000000 -75960000000 -46213000000 0
0 -39912000000 45701000000 -31587000000 -30465000000 -59198000000 204039000000
-231000000 -48670000000 29057000000 -8203000000 -34356000000 -59188000000 133583000000
-803000000 -29773000000 17812000000 -3029000000 -24236000000 -51610000000 59914000000
-162000000 -3790000000 411000000 -11154000000 -22677000000 -46725000000 38000000
-2383000000 -9853000000 2887000000 -16582000000 -29116000000 -35482000000 7000000
14922000000 -1171000000 1512000000 -3117000000 9270000000 -43932000000 6000000
-1808000000 -1000000 1019000000 -15951000000 -18574000000 -36023000000 259000000
-1732000000 0 1514000000 -14013000000 -14909000000 -37385000000 123000000
-2274000000 -738000000 3320000000 -8330000000 -8728000000 -34103000000 65000000
NetincomeperebEbtperebit Ebitperrevenue Debtratio Debtequityratio Longtermdebttoc

Totaldebttocapit
0.8350140887 0.3871727147 0.7353953341 0.213592233 2.6324786325 0.6785714286 0.7247058824
0.7999926046 1 0.4557542257 0.2057416268 2.7363636364 0.6978021978 0.7323600973
0.757993429 1 0.3087409387 0.2287188306 2.7708333333 0.6893203883 0.7348066298
0.7999622035 1 0.3178650808 0.2567975831 2.8333333333 0.696969697 0.7391304348
0.8379937505 0.4395801782 0.8496827867 0.2840300107 2.9444444444 0.7133757962 0.7464788732
0.3850161696 0.522310327 0.7216672874 0.3156117775 3.5294634146 0.7351404079 0.7792232968
InterestexpenseDepreciationandEbitda Ebitdaratio OperatingincomOperatingincome

Totalotherinco
16710000000 648000000 3404000000 0.2880595752 2756000000 0.2332233223 0
15152000000 605000000 2341000000 0.2148692061 1736000000 0.1593391464 549000000

13157000000 615000000 17765000000 1.4532886126 17150000000 1.4029777487 -13157000000
10337000000 727000000 12594000000 1.1888983291 11867000000 1.1202681016 -10337000000
6507000000 666000000 10242000000 0.8552818372 9576000000 0.7996659708 -5820000000
3117000000 570000000 7231000000 0.6094908968 6661000000 0.5614463924 -3117000000
1385000000 492000000 6533000000 0.5051418851 6041000000 0.4670996675 -1385000000
1215000000 488000000 6728000000 0.532320595 6240000000 0.4937099454 -1215000000
1553000000 509000000 8904000000 0.6543209877 8395000000 0.6169165197 -1553000000
1310000000 520000000 8670000000 0.5634260463 8150000000 0.5296334806 -1310000000
1572000000 498000000 10407000000 0.587833258 9909000000 0.5597040217 -1572000000
1563000000 498000000 7602000000 0.7134678555 7104000000 0.6667292351 -1563000000
Acquisitionsnet Purchasesofinv Salesmaturities OtherinvestingacNetcashusedforiDebtrepayment Commonstockis
-8000000 -6575000000 2648000000 642000000 -3959000000 -10215000000 25547000000
0 -10461000000 8166000000 914000000 -1978000000 -22011000000 0
-2000000 -7547000000 4881000000 -2870000000 -6292000000 -6793000000 0
-283000000 -16487000000 3116000000 485000000 -14159000000 -13708000000 0
-1817000000 -27722000000 2595000000 -10493000000 -38488000000 -9512000000 0
-13000000 -8780000000 2369000000 -9644000000 -17021000000 -16200000000 0
0 -7914000000 5574000000 -10479000000 -13938000000 -15906000000 2172000000
0 -12282000000 16558000000 -8212000000 -4819000000 -18656000000 35911000000
0 -6868000000 8250000000 -9250000000 -9221000000 -12145000000 52304000000
0 -12848000000 15319000000 -3646000000 -2487000000 -12491000000 60986000000
-5000000 -11154000000 5857000000 -2218000000 -8923000000 -16116000000 349000000
-226000000 -9229000000 7557000000 5892000000 2996000000 -13360000000 0
Taxassets OthernoncurrentTotalnoncurrentOtherassets Totalassets AccountpayableShorttermdebt

0 -5.94E+11 594000000000 602000000000 1.577E+12 253000000000 70000000000
512520000000 -5.38E+11 538000000000 605000000000 1.571E+12 258000000000 70000000000
0 -27013000000 539000000000 625000000000 1.538E+12 266000000000 65000000000
0 -59539000000 400090000000 639878000000 1.442E+12 262000000000 61000000000
0 -80183000000 458302000000 629051000000 1.557E+12 279000000000 52000000000
0 -76643000000 439272000000 694721000000 1.601E+12 280000000000 58000000000
0 -82414000000 428692000000 700544000000 1.589E+12 293000000000 58000000000
0 -63325000000 425764000000 605983000000 1.463E+12 252000000000 47000000000
361528000000 -4.33405E+11 433405000000 614710000000 1.443E+12 252000000000 49000000000
361579000000 -4.28287E+11 428287000000 546818000000 1.388E+12 239000000000 62000000000
352046000000 -4.22355E+11 422355000000 515056000000 1.302E+12 224000000000 58000000000
372377000000 -4.42883E+11 442883000000 435362000000 1.163E+12 191000000000 53000000000

Dcfdiff Dcf Image Ipodate Defaultimage Isetf Isactivelytrading
767.356 1121.06 1999-05-04 0 0 1
IncomebeforetaIncomebeforetaxIncometaxexpe Netincome Netincomeratio Eps Epsdiluted
13486000000 0.2847250079 2225000000 11261000000 0.237749393 32.49 31.96
27044000000 0.4557542257 5409000000 21635000000 0.3646000101 60.25 59.45
12479000000 0.3087409387 3020000000 9459000000 0.2340236028 24.94 24.74
10583000000 0.3178650808 2117000000 8466000000 0.2542800505 21.18 21.03
12481000000 0.3735037108 2022000000 10459000000 0.3129937754 27.14 26.8
11132000000 0.3769342769 6846000000 4286000000 0.1451257915 9.12 9.01
10304000000 0.3673047446 2906000000 7398000000 0.2637151107 16.53 16.29
8778000000 0.2809499424 2695000000 6083000000 0.1946933811 12.35 12.14
12357000000 0.3891110621 3880000000 8477000000 0.2669332746 17.55 17.07
11737000000 0.368335164 3697000000 8040000000 0.2523144516 16.34 15.46
Taxpayables DeferredrevenuOthercurrentliabiTotalcurrentliabilLongtermdebt DeferredrevenuDeferredtaxliabi
2669000000 0 6845000000 329845000000 247000000000 0 0
2360000000 0 -2.99E+11 299000000000 254000000000 0 0
3155000000 0 -2.44E+11 244000000000 213000000000 0 0
2947000000 0 -2.23E+11 223000000000 207000000000 0 0
2864000000 0 -2.21E+11 221000000000 224000000000 0 0
4051000000 240156000000 -2.39987E+11 239987000000 227598000000 0 0
1794000000 0 -2.40838E+11 240838000000 198075000000 0 0
1280000000 0 -2.67382E+11 267382000000 186443000000 0 0
1533000000 0 -2.73672E+11 273672000000 175663000000 0 0

1974000000 0 -2.66747E+11 266747000000 168966000000 0 0
CommonstockreDividendspaid Otherfinancingac
Netcashusedprov
Effectofforexch NetchangeincasCashatendofper
-3500000000 -3682000000 112997000000 59602000000 -11561000000 -19211000000 241825000000
-7875000000 -2725000000 497000000 134738000000 0 105194000000 261036000000
-2278000000 -2336000000 599000000 70380000000 0 22296000000 155842000000
-6435000000 -2104000000 3602000000 3367000000 0 2999000000 133546000000
-3979000000 -1810000000 75228000000 22752000000 0 20496000000 130547000000
-7859000000 -1769000000 80301000000 35198000000 0 -11660000000 110051000000
-7249000000 -1706000000 66313000000 13432000000 0 28272000000 121711000000
-4135000000 -1681000000 70698000000 29118000000 0 17505000000 75105000000
-5469000000 -1454000000 63184000000 18999000000 0 -3533000000 57600000000
-6175000000 -1302000000 34164000000 -7351000000 0 -11536000000 61133000000
Interestcoverag CashflowtodebtrCompanyequitymu
ReceivablesturnPayablesturnov Inventoryturnov Fixedassetturno
1.63178113 0.0282727273 12.324786325 0.3496913945 0.0617328244 0 2.4610308636
4.7865486726 0.0030598007 13.3 0.3685652174 0.0742063492 0 2.9107720985
1.3961736406 -0.0516090226 12.114583333 0.3340413223 0.0747068063 0 1.5896094702
0.6090584715 0.0936 11.033333333 0.44392 0.0764685714 0 1.3731749567
1.7843765711 0.0770603774 10.366666667 0.0673709677 0.0729833333 0 1.824316209
2.0934092918 -0.0613027614 11.182926829 0.3141741665 0.0707078652 0 1.9566052736
IncomebeforetaIncomebeforetaxIncometaxexpe Netincome Netincomeratio Eps Epsdiluted
2756000000 0.2332233223 698000000 2058000000 0.1741558771 5.52 5.47
1736000000 0.1593391464 520000000 1216000000 0.1116108307 3.09 3.08

3993000000 0.3266524869 759000000 3234000000 0.2645615183 8.87 8.79
1530000000 0.1444350042 204000000 1326000000 0.1251770037 3.35 3.32
3756000000 0.3136534447 687000000 3069000000 0.2562839248 8.35 8.25
3544000000 0.2987188132 617000000 2927000000 0.2467127444 8.25 8.12
4656000000 0.3600092786 717000000 3939000000 0.3045697054 11.22 11.07
5025000000 0.3975789224 1090000000 3935000000 0.3113379223 11.35 11.17
6842000000 0.502792475 1464000000 5378000000 0.3952087008 15.14 14.93
6840000000 0.4445022095 1354000000 5486000000 0.3565115675 15.22 15.02
8337000000 0.4709105287 1501000000 6836000000 0.3861274288 18.8 18.6
5541000000 0.5200375411 1035000000 4506000000 0.4229000469 12.23 12.08
CommonstockreDividendspaid Otherfinancingac
Netcashusedprov
Effectofforexch NetchangeincasCashatendofper
-750000000 -1012000000 316000000 13886000000 -224000000 41604000000 270931000000
-2546000000 -1013000000 5026000000 -20544000000 620000000 -12498000000 229327000000
-1500000000 -1013000000 -270000000 -9576000000 -11561000000 -42426000000 241825000000
-1000000000 -997000000 17326000000 1621000000 0 -4355000000 284251000000
-500000000 -857000000 25325000000 14456000000 0 14442000000 288606000000
-500000000 -815000000 70616000000 53101000000 0 13128000000 274164000000
-500000000 -822000000 53303000000 38247000000 0 49206000000 261036000000
-1000000000 -792000000 157000000 15620000000 0 -28459000000 211830000000
-1675000000 -560000000 -36000000 37888000000 0 49134000000 240289000000
-4700000000 -551000000 -261000000 42983000000 0 35313000000 191155000000
350000000 -592000000 11559000000 -4450000000 0 2641000000 155842000000
0 -580000000 -3390000000 -17330000000 0 20602000000 153201000000
Taxpayables DeferredrevenuOthercurrentliabiTotalcurrentliabilLongtermdebt DeferredrevenuDeferredtaxliabi

0 0 -3.23E+11 323000000000 224000000000 0 0
2674000000 0 -3.28E+11 328000000000 231000000000 0 0
2681000000 0 -3.31E+11 331000000000 241000000000 0 0
2669000000 0 6845000000 329845000000 247000000000 0 0
3274000000 0 7226000000 338226000000 240000000000 0 0
3223000000 0 8248000000 346248000000 251000000000 0 0
2686000000 0 9706000000 360706000000 258000000000 0 0
2360000000 0 9056000000 308056000000 254000000000 0 0
3058000000 321420000000 -3.1121E+11 311210000000 243000000000 0 0
3166000000 330770000000 -3.15885E+11 315885000000 239000000000 0 0
4278000000 313890000000 -2.97945E+11 297945000000 219000000000 0 0
3155000000 269492000000 -2.56746E+11 256746000000 213000000000 0 0

Isadr Isfund
0 FALSE
WeightedaveragWeightedaveragLink Finallink
346600000 352300000 https://www.sec.gov/Archives/edgar/data/886982/000088698223000003/0000886982-23-00000

https://www.sec.gov/Archives/edgar/data/886982/000088698223000003/gs-202

https://www.sec.gov/Archives/edgar/data/886982/000119312522052682/d1922








Othernoncurrentli
TotalnoncurrentliOtherliabilities CapitalleaseobliTotalliabilities Preferredstock Commonstock
1099356000000 1346356000000 -351201000000 2154000000 1.325E+12 10703000000 9000000
-2.54E+11 254000000000 800000000000 2288000000 1.353E+12 10703000000 9000000
-2.13E+11 213000000000 610000000000 2283000000 1.067E+12 11203000000 9000000
-2.07E+11 207000000000 473000000000 2385000000 903000000000 11203000000 9000000
-3000000000 221000000000 401000000000 0 843000000000 11203000000 9000000
12389000000 239987000000 355026000000 0 835000000000 11853000000 9000000
42763000000 240838000000 291596000000 0 773272000000 11203000000 9000000
80939000000 267382000000 239903000000 0 774667000000 11200000000 9000000
98009000000 273672000000 226099000000 0 773443000000 9200000000 9000000

97781000000 266747000000 299546000000 0 833040000000 7200000000 8000000
Cashatbeginning
Operatingcashf Capitalexpendit Freecashflow Link Finallink
261036000000 8708000000 -3748000000 4960000000 https://www.sec.gov/Archives/edgar/data/886982/00008869822

https://www.sec.gov/Archives/edgar/data/88698
155842000000 921000000 -4667000000 -3746000000 https://www.sec.gov/Archives/edgar/data/886982/00011931252

133546000000 -13728000000 -6309000000 -20037000000 https://www.sec.gov/Archives/edgar/data/886982/00011931252








Assetturnover Operatingcashf FreecashflowpeCashpershare Payoutratio OperatingcashflFreecashflowope
0.0328467406 25.12406232 14.310444316 1724.0940565 0.3269691857 0.1838488335 0.5695911805
0.0405598086 2.6572418079 -10.807847788 753.10156668 0.1259533164 0.0155209896 -4.0673181325
0.0347540843 -38.518518951 -56.220539352 439.18631245 0.2469605667 -0.3396422475 1.4595716783
0.0335287009 64.230355912 41.509688283 357.9117369 0.2485235058 0.7168859254 0.6462627786
0.0358156484 52.986508075 32.275558197 337.31188726 0.1730566976 0.6111144362 0.6091278586
0.0322061069 -44.178287403 -52.109064394 274.03137791 0.4127391507 -0.6007517015 1.179517529
WeightedaveragWeightedaveragLink Finallink
338700000 343900000










Cashatbeginning
Operatingcashf Capitalexpendit Freecashflow Link Finallink












Othernoncurrentli
TotalnoncurrentliOtherliabilities CapitalleaseobliTotalliabilities Preferredstock Commonstock
-2.24E+11 224000000000 913000000000 0 1.46E+12 0 0
-2.31E+11 231000000000 896000000000 2113000000 1.455E+12 10703000000 9000000
90000000000 331000000000 759000000000 2129000000 1.421E+12 10703000000 9000000
1.099356E+12 1.346356E+12 -351201000000 2154000000 1.325E+12 10703000000 9000000
1243115000000 1483115000000 -383341000000 2057000000 1.438E+12 10703000000 9000000
95248000000 346248000000 790504000000 2160000000 1.483E+12 10703000000 9000000
102706000000 360706000000 752588000000 2261000000 1.474E+12 10703000000 9000000
54056000000 308056000000 736888000000 2288000000 1.353E+12 10703000000 9000000
68210000000 311210000000 714580000000 2283000000 1.337E+12 9953000000 9000000
76885000000 315885000000 654230000000 2291000000 1.286E+12 9203000000 9000000
78945000000 297945000000 608110000000 2319000000 1.204E+12 9203000000 9000000
43746000000 256746000000 553508000000 2283000000 1.067E+12 11203000000 9000000

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00119312516470289/d107036d10k.htm
00119312516470289/d107036d10k.htm
00119312516470289/d107036d10k.htm
Retainedearnin AccumulatedothOthertotalstockhTotalstockholdeTotalequity Totalliabilities Minorityinterest
139372000000 -3010000000 -30074000000 117000000000 117000000000 1442000000000 0
131811000000 -2068000000 -30455000000 110000000000 110000000000 1.463E+12 0
112947000000 -1434000000 -26725000000 96000000000 96000000000 1.163E+12 0
106465000000 -1484000000 -26193000000 90000000000 90000000000 993000000000 0
100100000000 693000000 -22005000000 90000000000 90000000000 933000000000 0
91519000000 -1880000000 -19501000000 82000000000 82000000000 917000000000 0
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83386000000 -718000000 -7149000000 86728000000 86728000000 861395000000 0
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71961000000 -524000000 -178000000 78467000000 78467000000 911507000000 0
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Cashflowcoverag
ShorttermcoveraCapitalexpendit Dividendpaidan DividendpayoutrPricebookvaluerPricetobookratio
0.0282727273 0.1427540984 -2.3233724653 -131.93939394 0.3269691857 1.0172265641 1.0172265641
0.0030598007 0.0195957447 -0.1973430469 -0.4742533471 0.1259533164 1.2053802588 1.2053802588
-0.0516090226 -0.2590188679 2.1759391346 3.4553234332 0.2469605667 0.979023364 0.979023364
0.0936 0.49725 -2.8269572427 -3.7652626597 0.2485235058 0.949355412 0.949355412
0.0770603774 0.4980731707 -2.5583813581 -3.3086519767 0.1730566976 0.7153452148 0.7153452148
-0.0613027614 -0.2870037853 5.5704866562 12.529661017 0.4127391507 1.2477026186 1.2477026186
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Retainedearnin AccumulatedothOthertotalstockhTotalstockholdeTotalequity Totalliabilities Minorityinterest

0 0 0 117000000000 117000000000 1577000000000 0
141798000000 -3237000000 -33273000000 116000000000 116000000000 1571000000000 0
141591000000 -2601000000 -32702000000 117000000000 117000000000 1538000000000 0
139372000000 -3010000000 -30074000000 117000000000 117000000000 1.442E+12 0
139067000000 -1872000000 -28907000000 119000000000 119000000000 1557000000000 0
136998000000 -1954000000 -27756000000 118000000000 118000000000 1601000000000 0
134931000000 -2684000000 -27959000000 115000000000 115000000000 1.589E+12 0
131811000000 -2068000000 -30455000000 110000000000 110000000000 1.463E+12 0
128631000000 -1956000000 -30637000000 106000000000 106000000000 1.443E+12 0
124051000000 -1889000000 -29374000000 102000000000 102000000000 1.388E+12 0
119210000000 -2074000000 -28348000000 98000000000 98000000000 1.302E+12 0
112947000000 -1434000000 -26725000000 96000000000 96000000000 1.163E+12 0

Totalliabilitiesa TotalinvestmentTotaldebt Netdebt Link Finallink
1.442E+12 562629000000 308000000000 -1.58942E+11 https://www.sec.gov/Archives/edgar/data/886982/00008869822

1.463E+12 464025000000 301000000000 40000000000 https://www.sec.gov/Archives/edgar/data/886982/00011931252


993000000000 419000000000 255000000000 122000000000 https://www.sec.gov/Archives/edgar/data/886982/00011931252






Pricetosalesrati PriceearningsratPricetofreecashfPricetooperatin PricecashflowratPriceearningstoPricesalesratio
2.5127310884 10.568822307 23.995062097 13.667375746 13.667375746 -0.229384562 2.5127310884
2.2344803328 6.1285800078 -35.395576207 143.96506891 143.96506891 0.04328711 2.2344803328
2.3252985711 9.9361711539 -4.6906344735 -6.8463172309 -6.8463172309 0.559702407 2.3252985711
2.5662878321 10.092367952 5.5391887896 3.5797715385 3.5797715385 -0.4595752789 2.5662878321
1.9266539781 6.1555664339 5.1757431732 3.1526893557 3.1526893557 0.0311535882 1.9266539781
3.4643149943 23.871118695 -4.8889766678 -5.7666336786 -5.7666336786 -0.5325095709 3.4643149943

Totalliabilitiesa TotalinvestmentTotaldebt Netdebt Link Finallink
1.577E+12 594000000000 294000000000 54000000000











Dividendyield Enterprisevaluem
Pricefairvalue
0.0309371448 -1.0707885322 1.0172265641
0.0205517944 5.9393588379 1.2053802588
0.0248547014 14.184426879 0.979023364
0.0246248955 16.883046071 0.949355412
0.0281138543 6.7084239875 0.7153452148
0.0172903145 12.538464933 1.2477026186

The Goldman Sachs Group, Inc.
US | Financial Services | Capital Markets
Quick Look Stock Price per Share / I

0.72 0.95
Country US Currency USD Exchange NYSE
Avg Volume 1.8M FTEs 45,900 EV/EBITDA (1.1x)
Price 290 ROE 9.6% P/E 10.6x
Market Cap 95.6B ROA 0.8% P/B 1.0x
Beta 1.42 Gross Margin 65.9% Debt/Equity 2.6x
52 Week 289.3568-389.58 DPS 32.7% Current Ratio 1.2x
2018 2019
P/E - Price / Earnings Ratio EV/EBITDA - En
6.16 10.09 9.94 6.13 10.57 6.71 16.88
2018 2019 2020 2021 2022 2018 2019
P/B - Price Book Value Ratio Debt / Equit
0.72 0.95 0.98 1.21 1.02 2.94 2.83
2018 2019 2020 2021 2022 2018 2019

Price per Share / Intrinsic Value - Price Fair Value
0.95 0.98 1.21 1.02
2019 2020 2021 2022
EV/EBITDA - Enterprise Value Multiplier
16.88 14.18 5.94 -1.07
2019 2020 2021 2022
Debt / Equity - Debt Equity Ratio
2.83 2.77 2.74 2.63
2019 2020 2021 2022

About the Company
Company Name
CEO
Country
Sector
Industry
Website
Exchange
Description
About the Company
The Goldman Sachs Group, Inc.

Mr. David Solomon
US
Financial Services
Capital Markets
https://www.goldmansachs.com
New York Stock Exchange
The Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions,
governments, and individuals worldwide. It operates through four segments: Investment Banking, Global Markets, Asset Management,
and Consumer & Wealth Management. The company's Investment Banking segment provides financial advisory services, including
strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs;
and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services. This segment also
offers underwriting services, such as equity underwriting for common and preferred stock and convertible and exchangeable securities;
and debt underwriting for various types of debt instruments, including investment-grade and high-yield debt, bank and bridge loans, and
emerging-and growth-market debt, as well as originates structured securities. Its Global Markets segment is involved in client execution
activities for cash and derivative instruments; credit and interest rate products; and provision of equity intermediation and equity
financing, clearing, settlement, and custody services, as well as mortgages, currencies, commodities, and equities related products. The
company's Asset Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds,
private equity, real estate, currencies, and commodities; and provides customized investment advisory solutions, as well as invests in
corporate, real estate, and infrastructure entities. Its Consumer & Wealth Management segment offers wealth advisory and banking
services, including financial planning, investment management, deposit taking, and lending; private banking; and unsecured loans, as well
as accepts saving and time deposits. The company was founded in 1869 and is headquartered in New York, New York.
Income Statement - (USD 'MM)
Year 2013 2014 2015 2016 2017 2018
Revenue 31,865 31,757 31,244 28,053 29,533 33,416
Cost of Revenue - - (13,450) (12,435) (12,586) (13,137)
Gross Profit 31,865 31,757 17,794 15,618 16,947 20,279
Gross Margin, % 100.0% 100.0% 57.0% 55.7% 57.4% 60.7%
EBITDA 19,727 19,251 15,157 18,406 22,465 29,721
EBITDA, % 61.9% 60.6% 48.5% 65.6% 76.1% 88.9%
Operating Income (EBIT) 18,405 17,914 14,166 17,408 21,313 28,393
EBIT, % 57.8% 56.4% 45.3% 62.1% 72.2% 85.0%
Profit Before Tax 11,737 12,357 8,778 10,304 11,132 12,481
Earnings Before Tax, % 36.8% 38.9% 28.1% 36.7% 37.7% 37.4%
Net Profit After Tax 8,040 8,477 6,083 7,398 4,286 10,459
Profit Margin, % 25.2% 26.7% 19.5% 26.4% 14.5% 31.3%
Cash Flow Statement - (USD 'MM)

Year 2013 2014 2015 2016 2017 2018
Net Income 8,040 8,477 6,083 7,398 4,286 10,459
Depreciation & Amortization 1,322 1,337 991 998 1,152 1,328
Deferred income taxes 29 495 425 551 5,458 (2,645)
Stock-based compensation 2,015 2,085 2,272 2,111 1,769 1,831
Change in working capital (6,652) (19,728) (2,776) (5,491) (30,293) 8,934
Other non-cash items (211) (289) (34) 3 (114) 514
Operating Cash Flow 4,543 (7,623) 6,961 5,570 (17,742) 20,421
Investments in PPE (706) (678) (1,833) (2,876) (3,185) (7,982)
Acquisitions (2,274) (1,732) (1,808) 14,922 (2,383) (162)
Investment purchases (738) - (1) (1,171) (9,853) (3,790)
Sales/Maturities of investments 3,320 1,514 1,019 1,512 2,887 411
Other Investing Activites (8,330) (14,013) (15,951) (3,117) (16,582) (11,154)
Investing Cash Flow (8,728) (14,909) (18,574) 9,270 (29,116) (22,677)
Debt repayment (34,103) (37,385) (36,023) (43,932) (35,482) (46,725)
Dividends payments (1,302) (1,454) (1,681) (1,706) (1,769) (1,810)
Common Stock Repurchased (6,175) (5,469) (4,135) (7,249) (7,859) (3,979)
Common Stock Issuance 65 123 259 6 7 38
Other Financing Activites 34,164 63,184 70,698 66,313 80,301 75,228
Financing Cash Flow (7,351) 18,999 29,118 13,432 35,198 22,752
Cash at beginning of period 72,669 61,133 57,600 93,439 121,711 110,051
Net cash flow / Change in cash (11,536) (3,533) 17,505 28,272 (11,660) 20,496
Cash at end of period 61,133 57,600 75,105 121,711 110,051 130,547
Balance Sheet Statement - (USD 'MM)
Year 2013 2014 2015 2016 2017 2018
Cash and cash equivalents 61,133 57,600 75,105 121,711 110,051 130,000
Short Term Investments - - 56,838 - - -
Cash and Short Term Investments 61,133 57,600 75,105 121,711 110,051 130,000
Account Receivables 121,295 103,214 82,739 74,921 94,002 496,000
Inventory - - - - - -
Other Current Assets - - - - - -
Total Current Assets 182,428 160,814 157,844 196,632 204,053 626,000
Goodwill 3,705 3,645 3,657 3,666 3,665 3,758
Intangible Assets 671 515 491 429 373 324
Goodwill and Intangible Assets 4,376 4,160 4,148 4,095 4,038 4,082
Long Term Investments 339,538 312,608 294,198 296,171 315,988 336,161
Property, Plant & Equipment Net 9,196 9,344 9,956 12,070 15,094 18,317
Other non-current Assets (353,110) (326,112) (308,302) (312,336) (335,120) (358,560)
Total non-current Assets 353,110 326,112 308,302 312,336 335,120 358,560
Total assets 911,507 856,240 861,395 860,165 917,000 933,000
Short Term debt 61,982 60,100 57,020 52,383 61,818 41,000
Account Payables 204,765 213,572 210,362 188,455 178,000 180,000
Deferred revenue - - - - 240,156 -
Other Current Liabilities (266,747) (273,672) (267,382) (240,838) (239,987) (221,000)
Total current liabilities 266,747 273,672 267,382 240,838 239,987 221,000
Long Term debt 168,966 175,663 186,443 198,075 227,598 224,000
Deferred Revenue Non Current - - - - - -
Deferred Tax Liabilities Non Current - - - - - -
Other non-current Liabilities 97,781 98,009 80,939 42,763 12,389 (3,000)
Total non-current liabilities 266,747 273,672 267,382 240,838 239,987 221,000
Total liabilities 833,040 773,443 774,667 773,272 835,000 843,000
Common Stock 8 9 9 9 9 9
Retained earnings 71,961 78,984 83,386 89,039 91,519 100,100
Other Income/Loss (524) (743) (718) (1,216) (1,880) 693
Other Stockholders Equity (178) (4,653) (7,149) (12,142) (19,501) (22,005)
Total shareholders equity 78,467 82,797 86,728 86,893 82,000 90,000
Minority Interest - - - - - -
Total Equity 78,467 82,797 86,728 86,893 82,000 90,000
Total debt 230,948 235,763 243,463 250,458 289,416 265,000
Total Investments 339,538 312,608 294,198 296,171 315,988 336,161
Net Debt 169,815 178,163 168,358 128,747 179,365 135,000
)
2019 2020 2021 2022
33,294 40,419 59,339 47,365
(13,382) (14,269) (18,700) (16,174)
19,912 26,150 40,639 31,191
59.8% 64.7% 68.5% 65.9%
12,287 14,381 29,059 37,287
36.9% 35.6% 49.0% 78.7%
10,583 12,479 27,044 34,832
31.8% 30.9% 45.6% 73.5%
10,583 12,479 27,044 13,486
31.8% 30.9% 45.6% 28.5%
8,466 9,459 21,635 11,261
25.4% 23.4% 36.5% 23.8%
M)
2019 2020 2021 2022
8,466 9,459 21,635 11,261
1,704 1,902 2,015 2,455
(334) (833) 5 (2,412)
2,018 1,920 2,348 4,083
10,969 (29,273) (25,439) (9,394)
1,045 3,097 357 2,715
23,868 (13,728) 921 8,708
(8,443) (6,309) (4,667) (3,748)
(803) (231) - (2,115)
(29,773) (48,670) (39,912) (60,536)
17,812 29,057 45,701 12,961
(3,029) (8,203) (31,587) (22,522)
(24,236) (34,356) (30,465) (75,960)
(51,610) (59,188) (59,198) (46,213)
(2,104) (2,336) (2,725) (3,682)
(6,435) (2,278) (7,875) (3,500)
59,914 133,583 204,039 -
3,602 599 497 112,997
3,367 70,380 134,738 59,602
130,547 133,546 155,842 261,036
2,999 22,296 105,194 (19,211)
133,546 155,842 261,036 241,825
MM)
2019 2020 2021 2022
133,000 156,000 261,000 466,942
- 526 25 130,629
133,000 156,526 261,025 597,571
75,000 121,000 161,000 135,448
- - - -
- - - -
208,000 277,526 422,025 402,032
4,196 4,332 4,285 6,374
641 630 418 2,009
4,837 4,962 4,703 8,383
419,000 483,000 464,000 432,000
24,246 25,427 20,386 19,246
(448,083) (513,389) (489,089) (59,539)
448,083 513,389 489,089 400,090
993,000 1,163,000 1,463,000 1,442,000
48,000 53,000 47,000 61,000
175,000 191,000 252,000 262,000
- - - -
(223,000) (244,000) (299,000) 6,845
223,000 244,000 299,000 329,845
207,000 213,000 254,000 247,000
- - - -
- - - -
(207,000) (213,000) (254,000) 1,099,356
207,000 213,000 254,000 1,346,356
903,000 1,067,000 1,353,000 1,325,000
9 9 9 9
106,465 112,947 131,811 139,372
(1,484) (1,434) (2,068) (3,010)
(26,193) (26,725) (30,455) (30,074)
90,000 96,000 110,000 117,000
- - - -
90,000 96,000 110,000 117,000
255,000 266,000 301,000 308,000
419,000 483,526 464,025 562,629
122,000 110,000 40,000 (158,942)
Income Statement - (USD 'MM)
Year 2020-Q4 2021-Q1 2021-Q2 2021-Q3 2021-Q4 2022-Q1
Revenue 10,655 17,704 15,388 13,608 12,639 12,933
Cost of Revenue (14,269) (6,290) (5,504) (3,406) (18,700) (4,334)
Gross Profit (3,614) 11,414 9,884 10,202 (6,061) 8,599
Gross Margin, % -33.9% 64.5% 64.2% 75.0% -48.0% 66.5%
EBITDA 7,602 10,407 8,670 8,904 6,728 6,533
EBITDA, % 71.3% 58.8% 56.3% 65.4% 53.2% 50.5%
Operating Income (EBIT) 7,104 9,909 8,150 8,395 6,240 6,041
EBIT, % 66.7% 56.0% 53.0% 61.7% 49.4% 46.7%
Profit Before Tax 5,541 8,337 6,840 6,842 5,025 4,656
Earnings Before Tax, % 52.0% 47.1% 44.5% 50.3% 39.8% 36.0%
Net Profit After Tax 4,506 6,836 5,486 5,378 3,935 3,939
Profit Margin, % 42.3% 38.6% 35.7% 39.5% 31.1% 30.5%
Cash Flow Statement - (USD 'MM)

Year 2020-Q4 2021-Q1 2021-Q2 2021-Q3 2021-Q4 2022-Q1
Net Income 3,367 4,506 6,836 5,486 5,378 3,935
Depreciation & Amortization 468 498 498 520 509 488
Deferred income taxes - (833) - - - 5
Stock-based compensation 157 183 1,759 202 180 207
Change in working capital 30,666 11,367 (14,206) 14,351 (45,502) 19,918
Other non-cash items 278 293 (70) (92) 175 344
Operating Cash Flow 34,936 16,014 (5,183) 20,467 (39,260) 24,897
Investments in PPE (998) (1,403) (1,312) (1,353) (883) (1,119)
Acquisitions (226) (5) - - - -
Investment purchases (9,229) (11,154) (12,848) (6,868) (12,282) (7,914)
Sales/Maturities of investments 7,557 5,857 15,319 8,250 16,558 5,574
Other Investing Activites 5,892 (2,218) (3,646) (9,250) (8,212) (10,479)
Investing Cash Flow 2,996 (8,923) (2,487) (9,221) (4,819) (13,938)
Debt repayment (13,360) (16,116) (12,491) (12,145) (18,656) (15,906)
Dividends payments (580) (592) (551) (560) (792) (822)
Common Stock Repurchased - 350 (4,700) (1,675) (1,000) (500)
Common Stock Issuance - 349 60,986 52,304 35,911 2,172
Other Financing Activites (3,390) 11,559 (261) (36) 157 53,303
Financing Cash Flow (17,330) (4,450) 42,983 37,888 15,620 38,247
Cash at beginning of period 132,599 153,201 155,842 191,155 240,289 211,830
Net cash flow / Change in cash 20,602 2,641 35,313 49,134 (28,459) 49,206
Cash at end of period 153,201 155,842 191,155 240,289 211,830 261,036
Balance Sheet Statement - (USD 'MM)
Year 2020-Q4 2021-Q1 2021-Q2 2021-Q3 2021-Q4 2022-Q1
Cash and cash equivalents 156,000 191,155 240,289 211,830 261,036 536,224
Short Term Investments 526 529 526 (71,877) 25 92,084
Cash and Short Term Investments 156,368 191,684 240,815 211,830 261,061 628,308
Account Receivables 128,387 172,905 172,080 183,055 170,192 174,637
Inventory - - - - - -
Other Current Assets - - - - - -
Total Current Assets 284,755 364,589 412,895 394,885 431,253 459,764
Goodwill 4,332 4,332 4,332 4,326 4,285 5,272
Intangible Assets 630 575 523 497 418 1,209
Goodwill and Intangible Assets 4,962 4,907 4,855 4,823 4,703 6,481
Long Term Investments 483,000 463,000 467,000 480,000 464,000 484,000
Property, Plant & Equipment Net 25,427 24,757 23,140 20,459 20,386 20,625
Other non-current Assets (442,883) (422,355) (428,287) (433,405) (63,325) (82,414)
Total non-current Assets 442,883 422,355 428,287 433,405 425,764 428,692
Total assets 1,163,000 1,302,000 1,388,000 1,443,000 1,463,000 1,589,000
Short Term debt 53,000 58,000 62,000 49,000 47,000 58,000
Account Payables 191,000 224,000 239,000 252,000 252,000 293,000
Deferred revenue 269,492 313,890 330,770 321,420 - -
Other Current Liabilities (256,746) (297,945) (315,885) (311,210) 9,056 9,706
Total current liabilities 256,746 297,945 315,885 311,210 308,056 360,706
Long Term debt 213,000 219,000 239,000 243,000 254,000 258,000
Deferred Revenue Non Current - - - - - -
Deferred Tax Liabilities Non Current - - - - - -
Other non-current Liabilities 43,746 78,945 76,885 68,210 54,056 102,706
Total non-current liabilities 256,746 297,945 315,885 311,210 308,056 360,706
Total liabilities 1,067,000 1,204,000 1,286,000 1,337,000 1,353,000 1,474,000
Common Stock 9 9 9 9 9 9
Retained earnings 112,947 119,210 124,051 128,631 131,811 134,931
Other Income/Loss (1,434) (2,074) (1,889) (1,956) (2,068) (2,684)
Other Stockholders Equity (26,725) (28,348) (29,374) (30,637) (30,455) (27,959)
Total shareholders equity 96,000 98,000 102,000 106,000 110,000 115,000
Minority Interest - - - - - -
Total Equity 96,000 98,000 102,000 106,000 110,000 115,000
Total debt 266,000 277,000 301,000 292,000 301,000 316,000
Total Investments 413,020 393,220 400,818 408,123 400,700 402,483
Net Debt 110,000 85,845 60,711 80,170 39,964 (220,224)
USD 'MM)
2022-Q2 2022-Q3 2022-Q4 2023-Q1 2023-Q2 2023-Q3
11,864 11,975 10,593 12,224 10,895 11,817
(3,954) (3,861) (16,174) (4,355) (3,872) -
7,910 8,114 (5,581) 7,869 7,023 11,817
66.7% 67.8% -52.7% 64.4% 64.5% 100.0%
7,231 10,242 12,594 17,765 2,341 3,404
60.9% 85.5% 118.9% 145.3% 21.5% 28.8%
6,661 9,576 11,867 17,150 1,736 2,756
56.1% 80.0% 112.0% 140.3% 15.9% 23.3%
3,544 3,756 1,530 3,993 1,736 2,756
29.9% 31.4% 14.4% 32.7% 15.9% 23.3%
2,927 3,069 1,326 3,234 1,216 2,058
24.7% 25.6% 12.5% 26.5% 11.2% 17.4%
(USD 'MM)
2022-Q2 2022-Q3 2022-Q4 2023-Q1 2023-Q2 2023-Q3
3,939 2,927 3,069 1,326 3,234 1,216
492 570 666 727 970 1,594
- - - (2,412) - -
3,128 383 300 272 1,541 239
(31,072) 33,927 3,633 (15,882) 3,830 28,237
561 667 515 972 (171) 615
(22,952) 38,474 8,183 (14,997) 9,404 31,901
(953) (1,051) (990) (754) (597) (666)
(13) (1,817) (283) (2) - (8)
(8,780) (27,722) (16,487) (7,547) (10,461) (6,575)
2,369 2,595 3,116 4,881 8,166 2,648
(9,644) (10,493) 485 (2,870) 914 642
(17,021) (38,488) (14,159) (6,292) (1,978) (3,959)
(16,200) (9,512) (13,708) (6,793) (22,011) (10,215)
(815) (857) (997) (1,013) (1,013) (1,012)
(500) (500) (1,000) (1,500) (2,546) (750)
- - - - - 25,547
70,616 25,325 17,326 (270) 5,026 316
53,101 14,456 1,621 (9,576) (20,544) 13,886
261,036 274,164 288,606 284,251 241,825 229,327
13,128 14,442 (4,355) (42,426) (12,498) 41,604
274,164 288,606 284,251 241,825 229,327 270,931
- (USD 'MM)
2022-Q2 2022-Q3 2022-Q4 2023-Q1 2023-Q2 2023-Q3
527,623 466,753 466,942 229,000 271,000 240,000
114,775 126,963 130,629 414,000 30,086 -
642,398 593,716 597,571 656,000 271,000 240,000
163,251 165,421 135,448 145,000 157,000 141,000
- - - - - -
- - - - - -
467,007 469,647 402,032 374,000 428,000 381,000
6,196 6,288 6,374 6,439 5,942 -
2,014 1,963 2,009 1,965 1,921 -
8,210 8,251 8,383 8,404 7,863 -
487,000 511,000 432,000 539,000 538,000 594,000
20,705 19,234 19,246 18,609 17,617 -
(76,643) (80,183) (59,539) (27,013) (538,000) (594,000)
439,272 458,302 400,090 539,000 538,000 594,000
1,601,000 1,557,000 1,442,000 1,538,000 1,571,000 1,577,000
58,000 52,000 61,000 65,000 70,000 70,000
280,000 279,000 262,000 266,000 258,000 253,000
- - - - - -
8,248 7,226 6,845 (331,000) (328,000) (323,000)
346,248 338,226 329,845 331,000 328,000 323,000
251,000 240,000 247,000 241,000 231,000 224,000
- - - - - -
- - - - - -
95,248 1,243,115 1,099,356 90,000 (231,000) (224,000)
346,248 1,483,115 1,346,356 331,000 231,000 224,000
1,483,000 1,438,000 1,325,000 1,421,000 1,455,000 1,460,000
9 9 9 9 9 -
136,998 139,067 139,372 141,591 141,798 -
(1,954) (1,872) (3,010) (2,601) (3,237) -
(27,756) (28,907) (30,074) (32,702) (33,273) -
118,000 119,000 117,000 117,000 116,000 117,000
- - - - - -
118,000 119,000 117,000 117,000 116,000 117,000
309,000 292,000 308,000 306,000 301,000 294,000
415,348 439,032 562,629 539,000 538,000 594,000
(218,623) (174,753) (158,942) 77,000 30,000 54,000
Weighted Average Cost Of Capital (WACC)
Share price, USD 289.91

Beta 1.42
Diluted Shares Outstanding, MM 352
Cost of Debt, % 4.3% 25%
Tax Rate, % 20.0%
After-tax Cost of Debt, % 3.5%
* Risk-Free Rate, % 4.8%
** Market Risk Premium, % 5.0%
Cost of Equity, % 12.0%
Total Debt - (USD 'MM) 308,000 Debt
Total Equity - (USD 'MM) 102,135 Equity
Total Capital - (USD 'MM) 410,135
Debt Weighting, % 75.1% Debt
Equity Weighting, % 24.9% Equity
WACC, % 5.6%
Tax Rate
2018 2019 2020
Historical tax rate, % 16.2% 20.0% 24.2%
Selected tax rate, %
Cost Of Debt (Effective interest rate method)
2018 2019 2020

Interest expense - (USD 'MM) 15,912 17,376 8,938
Total debt - (USD 'MM) 308,000 308,000 308,000
Effective interest rate, % 5.6% 2.9%
Average effective interest rate, %

ACC)
25%
75%
2021 2022
20.0% 16.5%
20.0%
2021 2022
5,650 21,346
308,000 308,000
1.8% 6.9%
4.3%
Operating Data - (USD 'MM)
Year 2018 2019 2020 2021 2022
A/F Actual Actual Actual Actual Actual
Revenue 33,416 33,294 40,419 59,339 47,365
Revenue Growth, % -0.4% 21.4% 46.8% -20.2%
EBITDA 29,721 12,287 14,381 29,059 37,287
EBITDA, % 88.9% 36.9% 35.6% 49.0% 78.7%
Depreciation 1,328 1,704 1,902 2,015 2,455
Depreciation, % 4.0% 5.1% 4.7% 3.4% 5.2%
EBIT 28,393 10,583 12,479 27,044 34,832
EBIT, % 85.0% 31.8% 30.9% 45.6% 73.5%
Balance Sheet Data - (USD 'MM)

Year 2018 2019 2020 2021 2022
Total Cash 130,000 133,000 156,526 261,025 597,571
Total Cash, % 389.0% 399.5% 387.3% 439.9% 1261.6%
Account Receivables 496,000 75,000 121,000 161,000 135,448
Account Receivables, % 1484.3% 225.3% 299.4% 271.3% 286.0%
Inventories - - - - -
Inventories, % 0.0% 0.0% 0.0% 0.0% 0.0%
Accounts Payable 180,000 175,000 191,000 252,000 262,000
Accounts Payable, % 538.7% 525.6% 472.6% 424.7% 553.2%
Capital Expenditure (7,982) (8,443) (6,309) (4,667) (3,748)
Capital Expenditure, % 23.9% 25.4% 15.6% 7.9% 7.9%
Build Up Free Cash Flow - (USD 'MM)

Year 2018 2019 2020 2021 2022
Revenue 33,416 33,294 40,419 59,339 47,365
EBITDA 29,721 12,287 14,381 29,059 37,287
EBIT 28,393 10,583 12,479 27,044 34,832
Tax Rate, % 16.2% 20.0% 24.2% 20.0% 16.5%
EBIAT 23,793 8,466 9,459 21,635 29,085
Depreciation 1,328 1,704 1,902 2,015 2,455
Accounts Receivable (401,998) 421,000 (46,000) (40,000) 25,552
Inventories - - - - -
Accounts Payable 2,000 (5,000) 16,000 61,000 10,000
Capital Expenditure (7,982) (8,443) (6,309) (4,667) (3,748)
UFCF (382,859) 417,727 (24,948) 39,983 63,344
WACC, %
PV UFCF
SUM PV UFCF
Valuation - (USD 'MM)

Terminal Value (Perpetuity Growth method) - (USD 'MM) Intrinsic Value
Long-term growth rate, % 4.0% Enterprise Value - (USD 'MM)
WACC, % 5.6% Net Debt - (USD 'MM)
Free cash flow (t + 1) 43,667 Equity Value - (USD 'MM)
Terminal Value 2,767,290 Shares Outstanding, MM
Present Value of Terminal Value 2,109,540 Equity Value Per Share, USD
(USD 'MM)
2023 2024 2025 2026 2027
Forecast Forecast Forecast Forecast Forecast
53,009 59,326 66,396 74,308 83,162
11.9% 11.9% 11.9% 11.9% 11.9%
26,528 29,689 33,227 37,187 41,618
50.0% 50.0% 50.0% 50.0% 50.0%
2,439 2,729 3,055 3,419 3,826
4.6% 4.6% 4.6% 4.6% 4.6%
24,089 26,960 30,173 33,768 37,792
45.4% 45.4% 45.4% 45.4% 45.4%
- (USD 'MM)
2023 2024 2025 2026 2027
329,750 369,045 413,022 462,239 517,322
622.1% 622.1% 622.1% 622.1% 622.1%
143,379 160,465 179,587 200,987 224,938
270.5% 270.5% 270.5% 270.5% 270.5%
- - - - -
0.0% 0.0% 0.0% 0.0% 0.0%
261,866 293,071 327,994 367,080 410,823
494.0% 494.0% 494.0% 494.0% 494.0%
(7,520) (8,416) (9,419) (10,542) (11,798)
14.2% 14.2% 14.2% 14.2% 14.2%
ow - (USD 'MM)
2023 2024 2025 2026 2027
53,009 59,326 66,396 74,308 83,162
26,528 29,689 33,227 37,187 41,618
24,089 26,960 30,173 33,768 37,792
20.2% 20.2% 20.2% 20.2% 20.2%
19,229 21,521 24,085 26,955 30,167
2,439 2,729 3,055 3,419 3,826
(7,931) (17,086) (19,122) (21,400) (23,951)
- - - - -
(134) 31,205 34,924 39,085 43,743
(7,520) (8,416) (9,419) (10,542) (11,798)
6,082 29,953 33,522 37,517 41,988
5.6% 5.6% 5.6% 5.6% 5.6%
5,761 26,872 28,485 30,195 32,008
123,321
SD 'MM)
trinsic Value
erprise Value - (USD 'MM) 2,232,861
Debt - (USD 'MM) -158,942
uity Value - (USD 'MM) 2,391,803
res Outstanding, MM 352
uity Value Per Share, USD 6,789.11
Free Cash Flow - (USD 'MM)
Year 2018 2019 2020 2021 2022 2023
A/F Actual Actual Actual Actual Actual Forecast
Revenue 33,416 33,294 40,419 59,339 47,365 53,009
Revenue Growth, % -0.4% 21.4% 46.8% -20.2% 11.9%
Operating Cash Flow 20,421 23,868 (13,728) 921 8,708 7,641
Operating Cash Flow, % 61.1% 71.7% -34.0% 1.6% 18.4% 14.4%
Capital Expenditure (7,982) (8,443) (6,309) (4,667) (3,748) (7,520)
Capital Expenditure, % 23.9% 25.4% 15.6% 7.9% 7.9% 14.2%
Free Cash Flow 12,439 15,425 (20,037) (3,746) 4,960 121
Free Cash Flow, % 37.2% 46.3% -49.6% -6.3% 10.5% 0.2%
Build Up Free Cash Flow - (USD 'MM)

Year 2018 2019 2020 2021 2022 2023
A/F Actual Actual Actual Actual Actual Forecast
Free Cash Flow 12,439 15,425 (20,037) (3,746) 4,960 121
WACC, % 5.6%
PV UFCF 115
SUM PV UFCF
Valuation - (USD 'MM)

Terminal Value (Perpetuity Growth method) - (USD 'MM) Intrinsic Value
Long-term growth rate, % 4.0% Enterprise Value - (USD 'MM)
WACC, % 5.6% Net Debt - (USD 'MM)
Free cash flow (t + 1) 198 Equity Value - (USD 'MM)
Terminal Value 12,544 Shares Outstanding, MM
Present Value of Terminal Value 9,562 Equity Value Per Share, USD
M)
2024 2025 2026 2027
Forecast Forecast Forecast Forecast
59,326 66,396 74,308 83,162
11.9% 11.9% 11.9% 11.9%
8,552 9,571 10,712 11,988
14.4% 14.4% 14.4% 14.4%
(8,416) (9,419) (10,542) (11,798)
14.2% 14.2% 14.2% 14.2%
136 152 170 190
0.2% 0.2% 0.2% 0.2%
D 'MM)
2024 2025 2026 2027
Forecast Forecast Forecast Forecast
136 152 170 190
5.6% 5.6% 5.6% 5.6%
122 129 137 145
648
e - (USD 'MM) 10,210

-158,942
169,152
352
r Share, USD 480.14
Liquidity Measurement Ratios
Year 2018 2019 2020 2021 2022
Current Ratio
2.83 0.93 1.14 1.41 1.22
Current Assets / Current Liabilities
Quick Ratio
2.83 0.93 1.14 1.41 2.22
(Cash and Cash Equivalents+Short Term Investments+Account
Receivables) / Current Liabilities
Cash Ratio
0.59 0.60 0.64 0.87 1.42
Cash and Cash Equivalents / Current Liabilities
Days of Sales Outstanding

5,417.76 822.22 1,092.68 990.33 1,043.78
((Account Receivables (start)+Account Receivables (end)) / 2) /
(Revenue / 365)
Days of Inventory Outstanding

0.00 0.00 0.00 0.00 0.00
((Inventory (start)+Inventory (end)) / 2) / (COGS / 365)
Operating Cycle
5,417.76 822.22 1,092.68 990.33 1,043.78
DSO + DIO
Days of Payables Outstanding

5,001.14 4,773.20 4,885.77 4,918.72 5,912.58
((Account Payables (start)+Account Payables (end)) / 2) / (COGS /
365)
Cash Conversion Cycle

416.62 -3,950.98 -3,793.09 -3,928.39 -4,868.80
DSO + DIO − DPO
Profitability Indicator Ratios

Year 2018 2019 2020 2021 2022
Gross Profit Margin

60.7% 59.8% 64.7% 68.5% 65.9%
Gross Profit / Revenue
Operating Profit Margin

85.0% 31.8% 30.9% 45.6% 73.5%
Operating Income / Revenue
Pretax Profit Margin

37.4% 31.8% 30.9% 45.6% 28.5%
Income Before Tax / Revenue
Net Profit Margin

31.3% 25.4% 23.4% 36.5% 23.8%
Net Income / Revenue
Effective Tax Rate

16.2% 20.0% 24.2% 20.0% 16.5%
Provision For Income Taxes / Income Before Tax
Return On Assets
0.01 0.01 0.01 0.01 0.01
Net Income / Avg Total Assets
Return On Equity
0.12 0.09 0.10 0.20 0.10
Net Income / Avg Total Equity
Return On Capital Employed

0.04 0.01 0.01 0.02 0.03
Net Income / (Avg Total Assets - Avg Current Liabilities)
Debt Ratios
Year 2018 2019 2020 2021 2022

Debt Ratio
0.28 0.26 0.23 0.21 0.21
Total Liabilities / Total Assets
Debt Equity Ratio

2.94 2.83 2.77 2.74 2.63
Total Debt / Total Equity
Long-term Debt to Capitalization

0.71 0.70 0.69 0.70 0.68
Long−Term Debt / (Long−Term Debt + Shareholders Equity)
Total Debt to Capitalization

0.75 0.74 0.73 0.73 0.72
Total Debt / (Total Debt + Shareholders Equity)
Interest Coverage Ratio

1.78 0.61 1.40 4.79 1.63
EBIT / Interest Expenses
Cash Flow to Debt Ratio

0.08 0.09 -0.05 0.00 0.03
Operating Cash Flows / Total Debt
Company Equity Multiplier

10.37 11.03 12.11 13.30 12.32
Total Assets / Total Equity
Operating Performance Ratios
Year 2018 2019 2020 2021 2022
Fixed Asset Turnover

1.82 1.37 1.59 2.91 2.46
Revenue / Avg Fixed Assets
Asset Turnover
0.04 0.03 0.03 0.04 0.03
0.04 0.03 0.03 0.04 0.03
Revenue / Avg Total Assets
Cash Flow Indicator Ratios
Year 2018 2019 2020 2021 2022
Operating Cash Flow Sales Ratio

0.61 0.72 -0.34 0.02 0.18
Operating Cash Flow / Revenue
Free Cash Flow Operating Cash Flow Ratio

0.61 0.65 1.46 -4.07 0.57
Free Cash Flow / Operating Cash Flow
Cash Flow Coverage Ratios

0.08 0.09 -0.05 0.00 0.03
Operating Cash Flow / Total Debt
Short-Term Coverage Ratios

0.50 0.50 -0.26 0.02 0.14
Operating Cash Flow / Short-Term Debt
Capital Expenditure Coverage

Ratios
2.56 2.83 -2.18 0.20 2.32
Operating Cash Flow / Capital Expenditure
Dividend Paid and Capex

Coverage Ratios
-3.31 -3.77 3.46 -0.47 -131.94
Operating Cash Flow / (Dividends Paid + Capital Expenditure)
Dividend Payout Ratio

0.17 0.25 0.25 0.13 0.33
DPS (Dividends per Share) / EPS (Net Income per Share)
Investment Valuation Ratios

Year 2018 2019 2020 2021 2022
Price Book Value Ratio

0.72 0.95 0.98 1.21 1.02
Stock Price per Share / Equity per Share
Price Cash Flow Ratio

3.15 3.58 -6.85 143.97 13.67
Stock Price per Share / Operating Cash Flow per Share
Price Earnings Ratio

6.16 10.09 9.94 6.13 10.57
Stock Price per Share / EPS
Price Earnings to Growth Ratio

0.03 -0.46 0.56 0.04 -0.23
Price Earnings Ratio / Expected Revenue Growth
Price Sales Ratio

1.93 2.57 2.33 2.23 2.51
Stock Price per Share / Revenue per Share
Dividend Yield
0.028 0.025 0.025 0.021 0.031
Dividend per Share / Stock Price per Share
Enterprise Value Multiplier

6.71 16.88 14.18 5.94 -1.07
Enterprise Value / EBITDA
Price Fair Value

0.72 0.95 0.98 1.21 1.02
Stock Price per Share / Intrinsic Value
Sparkline
Sparkline
Sparkline
Sparkline
Sparkline
Sparkline
Ratio Description
A current ratio of 1.0 or greater is an indication that the company is well-positioned to cover its current or short-term liabilities.
The quick ratio is more conservative than the current ratio because it excludes inventory and other current assets, which generally are more difficult to turn into cash. A higher
ratio means a more liquid current position.
The cash ratio is almost like an indicator of a firm’s value under the worst-case scenario where the company is about to go out of business.
DSO tells you how many days after the sale it takes people to pay you on average.
DIO tells you how many days inventory sits on the shelf on average.
(DSO + DIO) Basically the Operating Cycle tells you how many days it takes for something to go from first being in inventory to receiving the cash after the sale.
DPO tells you how many days the company takes to pay its suppliers.
The cash conversion cycle (CCC = DSO + DIO – DPO) measures the number of days a company's cash is tied up in the production and sales process of its operations and the
derives from payment terms from its creditors. The shorter this cycle, the more liquid the company's working capital position is. The CCC is also known as the "cash" or "opera
cycle.
Ratio Description
You can think of it as the amount of money from product sales left over after all of the direct costs associated with manufacturing the product have been paid.
If companies can make enough money from their operations to support the business, the company is usually considered more stable.
Profit is the main goal of for-profit organizations. The goal is to make a profit through growth and to grow every year. As a result, one of the most important roles of the financ
investment analyst is to track and forecast profitability.
Generally, a net profit margin in excess of 10% is considered excellent, though it depends on the industry and the structure of the business.
If there’s one takeaway, it should be that a company’s tax situation is all but a living, breathing organism in its own right.
ROA Return on assets gives an indication of the capital intensity of the company, which will depend on the industry; companies that require large initial investments will gener
lower return on assets. ROAs over 5% are generally considered good.
ROE this ratio calculates how much money is made based on the investors' investment in the company.investors want to see a high return on equity ratio because this indicates
company is using its investors' funds effectively.
ROCE shows investors how many dollars in profits each dollar of capital employed generates.
Ratio Description
The debt ratio tells us the degree of leverage used by the company.
This is a measurement of the percentage of the company’s balance sheet that is financed by suppliers, lenders, creditors and obligors versus what the shareholders have comm
While a high capitalization ratio can increase the return on equity because of the tax shield of debt, a higher proportion of debt increases the risk of bankruptcy for a company
Capitalization ratio describes to investors the extent to which a company is using debt to fund its business and expansion plans.
The lower a company’s interest coverage ratio is, the more its debt expenses burden the company.
The cash flow to debt ratio reveals the ability of a business to support its debt obligations from its operating cash flows
This is a measure of financial leverage.
Ratio Description
Calculates how efficiently a company is a producing sales with its machines and equipment.
The Asset Turnover ratio can often be used as an indicator of the efficiency with which a company is deploying its assets in generating revenue.
The Asset Turnover ratio can often be used as an indicator of the efficiency with which a company is deploying its assets in generating revenue.
Ratio Description
Gives investors an idea of the company's ability to turn sales into cash.
The higher the percentage of free cash flow embedded in a company's operating cash flow, the greater the financial strength of the company.
The operating cash flow is simply the amount of cash generated by the company from its main operations, which are used to keep the business funded.
The short-term debt coverage ratio compares the sum of a company's short-term borrowings and the current portion of its long-term debt to operating cash flow.
The larger the operating cash flow coverage for these items, the greater the company's ability to meet its obligations, along with giving the company more cash flow to expand
business, withstand hard times, and not be burdened by debt servicing and the restrictions typically included in credit agreements.
For conservative investors focused on cash flow coverage, comparing the sum of a company's capital expenditures and cash dividends to its operating cash flow is a stringent
measurement that puts cash flow to the ultimate test. If a company is able to cover both of these outlays of funds from internal sources and still have cash left over, it is produci
might be called "free cash flow on steroids". This circumstance is a highly favorable investment quality.
The dividend payout ratio is an indicator of how well earnings support the dividend payment.
Ratio Description
The price-to-book value ratio, expressed as a multiple (i.e. how many times a company's stock is trading per share compared to the company's book value per share), is an indi
how much shareholders are paying for the net assets of a company.
The price/cash flow ratio is used by investors to evaluate the investment attractiveness, from a value standpoint, of a company's stock.
The financial reporting of both companies and investment research services use a basic earnings per share (EPS) figure divided into the current stock price to calculate the P/E
(i.e. how many times a stock is trading (its price) per each dollar of EPS).
The PEG ratio is a refinement of the P/E ratio and factors in a stock's estimated earnings growth into its current valuation.The general consensus is that if the PEG ratio indica
value of 1, this means that the market is correctly valuing (the current P/E ratio) a stock in accordance with the stock's current estimated earnings per share growth. If the PEG
less than 1, this means that EPS growth is potentially able to surpass the market's current valuation.
The P/E ratio and P/S reflects how many times investors are paying for every dollar of a company's sales. Since earnings are subject, to one degree or another, to accounting e
and management manipulation, many investors consider a company's sales (revenue) figure a more reliable ratio component in calculating a stock's price multiple than the ear
figure.
Income investors value a dividend-paying stock, while growth investors have little interest in dividends, preferring to capture large capital gains. Whatever your investing style
matter of historical record that dividend-paying stocks have performed better than non-paying-dividend stocks over the long term.
Overall, this measurement allows investors to assess a company on the same basis as that of an acquirer. As a rough calculation, enterprise value multiple serves as a proxy fo
long it would take for an acquisition to earn enough to pay off its costs in years(assuming no change in EBITDA).
Helps investors determine whether a stock is trading at, below, or above its fair value estimate,A price/fair value ratio below 1 suggests the stock is trading at a discount to its
value, while a ratio above 1 suggests it is trading at a premium to its fair value.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33
Revenue
70,000 120.0%
60,000 100.0%
50,000
80.0%
40,000
60.0%
30,000
40.0%
20,000
10,000 20.0%
- 0.0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 201
EBITDA
40,000 100.0%
90.0%
35,000
80.0%
30,000
70.0%
25,000
60.0%
20,000 50.0%
40.0%
15,000
30.0%
10,000
20.0%
5,000
10.0%
- 0.0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 201
Profit Before Tax

30,000 50.0%
45.0%
25,000
40.0%
35.0%
20,000
30.0%
30,000 50.0%
45.0%
25,000
40.0%
35.0%
20,000
30.0%
15,000 25.0%
20.0%
10,000
15.0%
10.0%
5,000
5.0%
- 0.0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013
Profit After Tax

25,000 40.0%
35.0%
20,000
30.0%
25.0%
15,000
20.0%
10,000
15.0%
10.0%
5,000
5.0%
- 0.0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013
34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60###
61
Gross Margin, %
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
EBITDA, %
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Profit Before Tax, %

50.0%
45.0%
40.0%
35.0%
30.0%
50.0%
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Profit After Tax, %

40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33
Revenue
20,000 120.0%
18,000 100.0%
16,000 80.0%
14,000
60.0%
12,000
40.0%
10,000
20.0%
8,000
0.0%
6,000 2020
-20.0% Q4
4,000
2,000 -40.0%
- -60.0%
2020- 2021- 2021- 2021- 2021- 2022- 2022- 2022- 2022- 2023- 2023- 2023-
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 -80.0%
EBITDA
20,000 160.0%
18,000 140.0%
16,000
120.0%
14,000
12,000 100.0%
10,000 80.0%
8,000 60.0%
6,000
40.0%
4,000
2,000 20.0%
- 0.0%
2020- 2021- 2021- 2021- 2021- 2022- 2022- 2022- 2022- 2023- 2023- 2023- 2020
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Profit Before Tax

9,000 60.0%
8,000
50.0%
7,000
6,000 40.0%
5,000
30.0%
9,000 60.0%
8,000
50.0%
7,000
6,000 40.0%
5,000
30.0%
4,000
3,000 20.0%
2,000
10.0%
1,000
- 0.0%
2020- 2021- 2021- 2021- 2021- 2022- 2022- 2022- 2022- 2023- 2023- 2023- 2020-
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Profit After Tax

8,000 45.0%
7,000 40.0%
35.0%
6,000
30.0%
5,000
25.0%
4,000
20.0%
3,000
15.0%
2,000
10.0%
1,000 5.0%
- 0.0%
2020- 2021- 2021- 2021- 2021- 2022- 2022- 2022- 2022- 2023- 2023- 2023- 2020-
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60###
61
Gross Margin, %
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
2020- 2021- 2021- 2021- 2021- 2022- 2022- 2022- 2022- 2023- 2023- 2023-
-20.0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
-40.0%
-60.0%
-80.0%
EBITDA, %
160.0%
140.0%
120.0%
100.0%
80.0%
60.0%
40.0%
20.0%
0.0%
2020- 2021- 2021- 2021- 2021- 2022- 2022- 2022- 2022- 2023- 2023- 2023-
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Profit Before Tax, %

60.0%
50.0%
40.0%
30.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
2020- 2021- 2021- 2021- 2021- 2022- 2022- 2022- 2022- 2023- 2023- 2023-
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Profit After Tax, %

45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
2020- 2021- 2021- 2021- 2021- 2022- 2022- 2022- 2022- 2023- 2023- 2023-
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Dividends Payout
0.35 3.00
0.30 2.90
0.25
2.80
0.20
2.70
0.15
2.60
0.10
0.05 2.50
0.00 2.40
2018 2019 2020 2021 2022 2
Debt Ratio
0.30 12.00
0.25 10.00
0.20 8.00
0.15 6.00
0.10 4.00
0.05 2.00
0.00 0.00
2018 2019 2020 2021 2022
Price / Book Value Ratio

1.40 3.00
1.20 2.50
1.00
2.00
0.80
1.40 3.00
1.20 2.50
1.00
2.00
0.80
1.50
0.60
1.00
0.40
0.20 0.50
0.00 0.00
2018 2019 2020 2021 2022 2
Price Earnings to Growth Ratio

0.80 18.00
16.00
0.60
14.00
0.40 12.00
10.00
0.20
8.00
0.00
2018 2019 2020 2021 2022 6.00
-0.20 4.00
2.00
-0.40
0.00
-0.60 -2.00
Debt / Equity
3.00
2.90
2.80
2.70
2.60
2.50
2.40
2018 2019 2020 2021 2022
Price / Earnings Ratio

12.00
10.00
8.00
6.00
4.00
2.00
0.00
2018 2019 2020 2021 2022
Price / Sales Ratio

3.00
2.50
2.00
3.00
2.50
2.00
1.50
1.00
0.50
0.00
2018 2019 2020 2021 2022
Enterprise Value Multiplier

18.00
16.00
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
2018 2019 2020 2021 2022
-2.00

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Company Code

Company Code GS GNL

GS 289.91 1.424 1836509 95574921929 11

2022-12-31 GS USD 886982 2023-02-24 ###

2021-12-31 GS USD 886982 2022-02-25 ###

2020-12-31 GS USD 886982 2021-02-22 ###

2019-12-31 GS USD 886982 2020-02-21 ###

2018-12-31 GS USD 886982 2019-02-26 ###

2017-12-31 GS USD 886982 2018-02-26 ###

2016-12-31 GS USD 886982 2017-02-27 ###

2015-12-31 GS USD 886982 2016-02-22 ###

2014-12-31 GS USD 886982 2014-12-31 ###

2013-12-31 GS USD 886982 2013-12-31 ###

2022-12-31 GS USD 886982 2023-02-24 ###

2021-12-31 GS USD 886982 2022-02-25 ###

2020-12-31 GS USD 886982 2021-02-22 ###

2019-12-31 GS USD 886982 2020-02-21 ###

2018-12-31 GS USD 886982 2019-02-26 ###

2017-12-31 GS USD 886982 2018-02-26 ###

2016-12-31 GS USD 886982 2017-02-27 ###

2015-12-31 GS USD 886982 2016-02-22 ###

2014-12-31 GS USD 886982 2014-12-31 ###

2022-12-31 GS USD 886982 2023-02-24 ###

2021-12-31 GS USD 886982 2022-02-25 ###

2020-12-31 GS USD 886982 2021-02-22 ###

2019-12-31 GS USD 886982 2020-02-21 ###

2018-12-31 GS USD 886982 2019-02-26 ###

2017-12-31 GS USD 886982 2018-02-26 ###

2016-12-31 GS USD 886982 2017-02-27 ###

2015-12-31 GS USD 886982 2016-02-22 ###

2014-12-31 GS USD 886982 2014-12-31 ###

2013-12-31 GS USD 886982 2013-12-31 ###

GS 2022-12-31 2022 FY 1.2188512786 2.2223135109

GS 2021-12-31 2021 FY 1.4114548495 1.4114548495

GS 2020-12-31 2020 FY 1.1374016393 1.1374016393

GS 2019-12-31 2019 FY 0.932735426 0.932735426

GS 2018-12-31 2018 FY 2.8325791855 2.8325791855

GS 2017-12-31 2017 FY 0.8502668895 0.8502668895

2023-09-30 GS USD 886982 2023-09-30 ###

2023-06-30 GS USD 886982 2023-08-03 ###

2022-12-31 GS USD 886982 2023-02-24 ###

2022-09-30 GS USD 886982 2022-11-03 ###

2022-06-30 GS USD 886982 2022-08-04 ###

2022-03-31 GS USD 886982 2022-05-02 ###

2021-12-31 GS USD 886982 2022-02-25 ###

2021-09-30 GS USD 886982 2021-11-01 ###

2021-06-30 GS USD 886982 2021-08-04 ###

2021-03-31 GS USD 886982 2021-05-04 ###

2020-12-31 GS USD 886982 2021-02-22 ###

2023-06-30 GS USD 886982 2023-08-03 ###

2023-03-31 GS USD 886982 2023-05-04 ###

2022-12-31 GS USD 886982 2023-02-24 ###

2022-09-30 GS USD 886982 2022-11-03 ###

2022-06-30 GS USD 886982 2022-08-04 ###

2022-03-31 GS USD 886982 2022-05-02 ###

2021-12-31 GS USD 886982 2022-02-25 ###

2021-09-30 GS USD 886982 2021-11-01 ###

2021-06-30 GS USD 886982 2021-08-04 ###

2021-03-31 GS USD 886982 2021-05-04 ###