Blackstone Inc. vs The Goldman Sachs Group, Inc., two Financial Services stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Blackstone's price, near 32 times earnings, is a bet that fee-and-carry compounding keeps running, while Goldman's, at about 18 times, is priced for the choppier earnings of a trading-and-banking house. The capital returns hint at why the market splits them: Blackstone earns 15% on equity and 6.3% on assets, Goldman 15% and just 0.9%, because a dealer's balance sheet is mostly positions, not productive capital. Goldman keeps the wider net margin, 30% to 21%, but its free-cash-flow yield reads negative near minus 13%, a quirk of how trading cash moves rather than a sign of weak earnings. Blackstone pays the larger dividend, 3.8% to 1.3%. The two prices reward opposite traits: one steady fee accrual, the other cyclical market muscle bought at a discount.
Comparison updated 2026-06-15.
| Metric | BX | GS |
|---|---|---|
| Price | $123.07 | $1055.08 |
| Market cap | $96.8B | $325.0B |
| Sector | Financial Services | Financial Services |
| Stage | Growth | Mature |
| P/E | 31.6 | 19.3 |
| P/B | 4.83 | 2.65 |
| P/S | 6.55 | 5.38 |
| EV/EBITDA | — | 72.1 |
| Revenue growth | +17.1% | +11.4% |
| Net margin | 20.7% | 29.9% |
| Return on equity | 15.3% | 14.7% |
| Return on assets | 6.3% | 0.9% |
| Dividend yield | 3.8% | 1.3% |
| Debt / equity | 0.67 | 0.09 |
| Altman Z (solvency) | 2.45 | 0.25 |
| Piotroski F (quality) | 6 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.