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Financials · GS

Goldman Sachs Group Inc. (GS) financials

For the twelve months ended Sep 30, 2026, Goldman Sachs Group Inc. reported $69.70B of revenue and $22.17B of net income.

Revenue, TTM
$69.70B
Revenue growth, YoY
+18.7%
Net income, TTM
$22.17B
Net income growth, YoY
+33.0%
Net margin
31.8%
Free cash flow, TTM
-$39.98B
EPS, diluted, TTM
$69.58
EPS growth, YoY
+41.4%
Cash
$176.77B
Total debt
$444.82B
P/E
11.26
P/S
3.58
Market cap
$249.73B
Annual revenue$58.28B
FY2016FY2025
Annual net income$17.18B
FY2016FY2025
Annual free cash flow-$47.22B
FY2016FY2025

GS revenue and earnings growth

GS revenueQ3 2026$18.68B

Quarter YoY
+23.0%
QoQ
-8.2%
FY YoY
+8.9%
5Y CAGR
+5.5%
10Y CAGR
+5.6%

GS revenue was $18.68B in fiscal Q3 2026 (ended Sep 30, 2026), up 23.0% from a year earlier and down 8.2% from the prior quarter. For the full fiscal 2025 it was $58.28B, up 8.9% from fiscal 2024. Compound annual growth was +5.5% over 5 years and +5.6% over 10 years. It rose in 6 of the last 10 fiscal years.

GS net incomeQ3 2026$5.29B

Quarter YoY
+29.2%
QoQ
-20.1%
FY YoY
+20.3%
5Y CAGR
+12.7%
10Y CAGR
+10.9%

GS net income was $5.29B in fiscal Q3 2026 (ended Sep 30, 2026), up 29.2% from a year earlier and down 20.1% from the prior quarter. For the full fiscal 2025 it was $17.18B, up 20.3% from fiscal 2024. Compound annual growth was +12.7% over 5 years and +10.9% over 10 years. It rose in 6 of the last 10 fiscal years.

GS EPSQ3 2026$17.01

Quarter YoY
+38.9%
QoQ
-18.9%
FY YoY
+26.6%
5Y CAGR
+15.7%
10Y CAGR
+15.5%

GS diluted EPS was $17.01 in fiscal Q3 2026 (ended Sep 30, 2026), up 38.9% from a year earlier and down 18.9% from the prior quarter. For the full fiscal 2025 it was $51.32, up 26.6% from fiscal 2024. Compound annual growth was +15.7% over 5 years and +15.5% over 10 years.

GS free cash flowQ3 2026$3.66B

Quarter YoY
+72.3%
QoQ
-34.7%

GS free cash flow was $3.66B in fiscal Q3 2026 (ended Sep 30, 2026), up 72.3% from a year earlier and down 34.7% from the prior quarter. For the full fiscal 2025 it was -$47.22B, compared with -$15.30B in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$58.28B$53.51B$46.25B$47.37B$59.34B$44.56B$36.55B$36.62B$32.73B$30.79B
Interest expense$66.81B$73.34B$62.16B$21.35B$5.65B$8.94B$17.38B$15.91B$10.18B$7.10B
Pre-tax income$21.85B$18.40B$10.74B$13.49B$27.04B$12.48B$10.58B$12.48B$11.13B$10.30B
Income tax$4.68B$4.12B$2.22B$2.23B$5.41B$3.02B$2.12B$2.02B$6.85B$2.91B
Net income$17.18B$14.28B$8.52B$11.26B$21.64B$9.46B$8.47B$10.46B$4.29B$7.40B
EPS, basic$51.95$41.07$23.05$30.42$60.25$24.94$21.18$25.53$9.12$16.53
EPS, diluted$51.32$40.54$22.87$30.06$59.45$24.74$21.03$25.27$9.01$16.29
Diluted shares317.6M333.6M345.8M358.1M355.8M360.3M375.5M390.2M409.1M435.1M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$164.26B$182.09B$241.58B$241.82B$261.04B$155.84B$133.55B$130.55B$110.05B$121.71B
Goodwill$5.95B$5.85B$5.92B$6.37B$4.29B$4.33B$4.20B$3.76B$3.67B$3.67B
Total assets$1.81T$1.68T$1.64T$1.44T$1.46T$1.16T$992.97B$931.80B$916.78B$860.16B
Short-term debt-$69.71B$75.94B$60.96B------
Long-term debt-------$236.03B$227.58B$197.49B
Total debt$355.96B$312.34B$317.82B$308.10B$301.05B$266.35B$255.36B$236.03B$227.58B$197.49B
Total liabilities$1.68T$1.55T$1.52T$1.32T$1.35T$1.07T$902.70B$841.61B$834.53B$773.27B
Shareholders' equity$124.97B$122.00B$116.91B$117.19B$109.93B$95.93B$90.27B$90.19B$82.24B$86.89B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$45.15B-$13.21B-$12.59B$8.71B$6.30B-$18.54B$23.87B$16.56B-$20.49B$6.49B
Capital expenditures$2.06B$2.09B$2.32B$3.75B$4.67B$6.31B$8.44B$7.98B$3.18B$2.87B
Free cash flow-$47.22B-$15.30B-$14.90B$4.96B$1.63B-$24.84B$15.43B$8.58B-$23.67B$3.63B
Investing cash flow-$44.23B-$49.62B-$17.31B-$75.96B-$30.46B-$34.36B-$24.24B-$18.82B-$26.38B$9.68B
Financing cash flow$66.10B$7.32B$27.80B$59.60B$134.74B$70.38B$3.37B$22.75B$35.21B$12.10B
Dividends paid$5.28B$4.50B$4.19B$3.68B$2.73B$2.34B$2.10B$1.81B$1.77B$1.71B
Share repurchases$12.36B$8.00B$5.80B$3.50B$5.20B$1.93B$5.33B$3.29B$6.77B$6.08B
Stock-based compensation$3.44B$2.66B$2.08B$4.08B$2.35B$1.92B$2.02B$1.83B$1.77B$2.11B
Depreciation and amortization$2.18B$2.39B$4.86B$2.46B$2.02B$1.90B$1.70B$1.33B$1.15B$998.00M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY8.9%15.7%-2.3%-20.2%33.2%21.9%-0.2%11.9%6.3%-9.0%
Net income growth, YoY20.3%67.6%-24.4%-48.0%128.7%11.7%-19.1%144.0%-42.1%21.6%
EPS growth, YoY26.6%77.3%-23.9%-49.4%140.3%17.6%-16.8%180.5%-44.7%34.2%
Net margin29.5%26.7%18.4%23.8%36.5%21.2%23.2%28.6%13.1%24.0%
Free cash flow margin-81.0%-28.6%-32.2%10.5%2.7%-55.8%42.2%23.4%-72.3%11.8%
Return on equity13.7%11.7%7.3%9.6%19.7%9.9%9.4%11.6%5.2%8.5%
Return on assets0.9%0.9%0.5%0.8%1.5%0.8%0.9%1.1%0.5%0.9%
Debt to equity2.852.562.722.632.742.782.832.622.772.27

Source: XBRL data Goldman Sachs Group Inc. files with the SEC, latest filing dated Nov 2, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

GS peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
GS$69.70B+18.7%$22.17B31.8%$249.73B
MS$80.16B+16.2%$20.45B25.5%$284.96B
BLK$28.54B+24.7%$6.91B24.2%$182.05B
SCHW$26.02B+20.3%$10.10B38.8%$158.22B
CME$6.97B+9.0%$4.43B63.5%$109.49B
ICE$14.05B+12.1%$4.16B29.6%$96.27B
HOOD$5.08B+20.9%$1.98B39.0%$72.86B
NDAQ$9.15B+11.5%$2.08B22.8%$59.44B
IBKR$7.12B+19.7%$1.18B16.5%$34.35B

GS FAQ

8 questions
  • What is GS revenue?
    Goldman Sachs Group Inc. (GS) reported $69.70B of revenue for the twelve months ended Sep 30, 2026. That is up 18.7% from the year before. Revenue for fiscal 2025 was $58.28B.
  • Is GS profitable?
    Yes. Goldman Sachs Group Inc. earned $22.17B in net income for the twelve months ended Sep 30, 2026, a net margin of 31.8%.
  • How much cash and debt does GS have?
    Goldman Sachs Group Inc. reported $176.77B in cash and cash equivalents and $444.82B of debt on its most recent balance sheet in SEC filings.
  • How fast is GS revenue growing?
    Goldman Sachs Group Inc.'s revenue changed +8.9% in fiscal 2025, to $58.28B. Its compound annual growth rate was +5.5% over 5 years and +5.6% over 10 years.
  • What is GS free cash flow?
    Goldman Sachs Group Inc. generated -$39.98B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$37.86B less capital expenditures.
  • What is GS earnings per share?
    Diluted earnings per share were $69.58 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did GS last report financial results?
    The latest statements here come from Goldman Sachs Group Inc.'s 10-Q filed on Nov 2, 2026, covering the period ended Sep 30, 2026.
  • Where does this GS financial data come from?
    Quantisnow builds these statements from the structured XBRL data Goldman Sachs Group Inc. files with the SEC. It is provided for information only and is not investment advice.