FRGE vs MS vs GS vs ICE vs CME

For growth investors, The Goldman Sachs Group, Inc.

(GS) is the stronger pick with 17. 0% revenue growth year-over-year, versus 6. 4% for CME Group Inc. (CME). The Goldman Sachs Group, Inc. (GS) offers the better valuation at 22. 8x trailing P/E (15. 6x forward), making it the more compelling value choice. Analysts rate Morgan Stanley (MS) a "Buy" — based on 52 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, The Goldman Sachs Group, Inc.

(GS) is the cheapest at 22. 8x versus Intercontinental Exchange, Inc. at 27. 1x. On forward P/E, The Goldman Sachs Group, Inc. is actually cheaper at 15. 6x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: The Goldman Sachs Group, Inc. wins at 1. 12x versus Intercontinental Exchange, Inc. 's 2. 19x — a reasonable growth-adjusted valuation.

Over the past 5 years, The Goldman Sachs Group, Inc.

(GS) delivered a total return of +164. 4%, compared to -69. 5% for Forge Global Holdings, Inc. (FRGE). Over 10 years, the gap is even starker: MS returned +732. 3% versus FRGE's -70. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), CME Group Inc.

(CME) is the lower-risk stock at -0. 30β versus The Goldman Sachs Group, Inc. 's 1. 47β — meaning GS is approximately -582% more volatile than CME relative to the S&P 500. On balance sheet safety, Forge Global Holdings, Inc. (FRGE) carries a lower debt/equity ratio of 6% versus 5% for The Goldman Sachs Group, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), The Goldman Sachs Group, Inc.

(GS) is pulling ahead at 17. 0% versus 6. 4% for CME Group Inc. (CME). On earnings-per-share growth, the picture is similar: The Goldman Sachs Group, Inc. grew EPS 77. 3% year-over-year, compared to 15. 4% for CME Group Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

CME Group Inc.

(CME) is the more profitable company, earning 62. 0% net margin versus -83. 6% for Forge Global Holdings, Inc. — meaning it keeps 62. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CME leads at 64. 9% versus -103. 7% for FRGE. At the gross margin level — before operating expenses — CME leads at 86. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, The Goldman Sachs Group, Inc. (GS) is the more undervalued stock at a PEG of 1. 12x versus Intercontinental Exchange, Inc. 's 2. 19x. A PEG below 1. 5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, The Goldman Sachs Group, Inc. (GS) trades at 15. 6x forward P/E versus 23. 5x for CME Group Inc. — 7. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ICE: 25. 3% to $195. 71.

In this comparison, CME (3.

8% yield), MS (2. 0% yield), GS (1. 5% yield), ICE (1. 2% yield) pay a dividend. FRGE does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, CME Group Inc.

(CME) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 30), 3. 8% yield, +284. 9% 10Y return). Both have compounded well over 10 years (CME: +284. 9%, GS: +534. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

These companies operate in different sectors (FRGE (Technology) and MS (Financial Services) and GS (Financial Services) and ICE (Financial Services) and CME (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: FRGE is a small-cap quality compounder stock; MS is a large-cap high-growth stock; GS is a large-cap high-growth stock; ICE is a mid-cap quality compounder stock; CME is a mid-cap income-oriented stock. MS, GS, ICE, CME pay a dividend while FRGE does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.