Siusic Dot Com

We talked about Exxon mobile (XOM) a lot when we went out for lunch today because news came out that Exxon Mobile made 39.5 billion dollars last year. One of my coworker said, “Exxon mobile is probably the only company that has more cash than Microsoft (MSFT). ” I said, “You are wrong, there is a company has 10 times more cash then Exxon mobile, and it is Goldman Sachs”. He didn’t believe it. I had to show him the proof on Yahoo finance.

I start wondering maybe Yahoo made a mistake. If you took at its statistics, you will find Goldman Sachs has a market capital of 95.4 billion carrying 228.4 billion of debt. So if you come up with 95.4 billion to buy out the company and use the cash to pay off the debt you still have 361.7 billion left in your pocket. That is why its enterprise value is a negative 361.7 billion on its yahoo profile. All I learned from my MBA class can not make me understand why its stock price was so under valued. If that is true then Goldman Sachs is certainly the most under valued stock in the market. When you look at its balance sheet on Aug 2006, its current assets were totaled to 261.7 billion. I couldn’t find its latest balance sheet but we did hear Goldman Sachs’s most recently quarter was the best quarter ever and 11 billions of dollars would be contributed to employee bonus, half a million per employee averagely. So can its current assets grow from 261.7 billion to 688 billion in it best quarter? It might be the case or maybe Yahoo finanace messed up the figure totally.

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