Free Trial
→ Buy this stock tomorrow (From InvestorPlace) (Ad)tc pixel Free GS Stock Alerts

The Goldman Sachs Group (GS) Financials

The Goldman Sachs Group logo
$790.70 -5.65 (-0.71%)
As of 02:44 PM Eastern
This is a fair market value price provided by Polygon.io. Learn more.
Compare
Annual Income Statements for The Goldman Sachs Group

Annual Income Statements for The Goldman Sachs Group

This table shows The Goldman Sachs Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 8,077 5,568 7,087 3,685 9,860 7,897 8,915 21,151 10,764 7,907 13,525
Consolidated Net Income / (Loss)		 8,477 6,083 7,398 4,286 10,459 8,466 9,459 21,635 11,261 8,516 14,276
Net Income / (Loss) Continuing Operations		 8,477 6,083 7,398 4,286 10,459 8,466 9,459 21,635 11,261 8,516 14,276
Total Pre-Tax Income 		12,357 8,778 10,304 11,132 12,481 10,583 12,479 27,044 13,486 10,739 18,397
Total Revenue		 34,528 33,820 30,790 32,730 36,616 36,546 44,560 59,339 47,365 46,254 53,512
Net Interest Income / (Expense)		 4,047 3,064 2,587 2,932 3,767 4,362 4,751 6,470 7,678 6,351 8,056
Total Interest Income		 9,604 8,452 9,691 13,113 19,679 21,738 13,689 12,120 29,024 68,515 81,397
Investment Securities Interest Income		 9,604 8,452 9,691 13,113 19,679 21,738 13,689 12,120 29,024 68,515 81,397
Total Interest Expense		 5,557 5,388 7,104 10,181 15,912 17,376 8,938 5,650 21,346 62,164 73,341
Long-Term Debt Interest Expense		 5,557 5,388 7,104 10,181 15,912 17,376 8,938 5,650 21,346 62,164 73,341
Total Non-Interest Income		 30,481 30,756 28,203 29,798 32,849 32,184 39,809 52,869 39,687 39,903 45,456
Trust Fees by Commissions		 9,064 9,188 8,615 8,918 9,789 9,177 10,525 11,761 13,039 13,321 14,682
Investment Banking Income		 6,464 7,027 6,273 7,076 7,430 6,798 9,100 14,136 7,360 6,218 7,738
Other Non-Interest Income		 14,953 14,541 13,315 13,804 15,630 16,209 20,184 26,972 19,288 20,364 23,036
Provision for Credit Losses		 - - 182 657 674 1,065 3,098 357 2,715 1,028 1,348
Total Non-Interest Expense		 22,171 25,042 20,304 20,941 23,461 24,898 28,983 31,938 31,164 34,487 33,767
Salaries and Employee Benefits		 12,691 12,678 11,448 11,653 12,328 12,353 13,309 17,719 15,148 15,499 16,706
Net Occupancy & Equipment Expense		 1,606 1,578 1,597 1,630 1,832 2,196 2,307 2,554 2,834 2,972 2,964
Marketing Expense		 549 557 457 588 740 739 401 553 812 629 646
Other Operating Expenses		 5,988 9,238 5,804 5,918 7,233 7,906 11,064 9,097 9,915 10,531 11,059
Depreciation Expense		 1,337 991 998 1,152 1,328 1,704 1,902 2,015 2,455 4,856 2,392
Income Tax Expense		 3,880 2,695 2,906 6,846 2,022 2,117 3,020 5,409 2,225 2,223 4,121
Preferred Stock Dividends Declared		 400 515 311 601 599 569 544 484 497 609 751
Basic Earnings per Share		 $17.55 $12.35 $16.53 $9.12 $25.53 $21.18 $24.94 $60.25 $30.42 $23.05 $41.07
Weighted Average Basic Shares Outstanding		 458.90M 448.90M 427.40M 401.60M 385.40M 371.60M 356.40M 350.50M 352.10M 340.80M 328.10M
Diluted Earnings per Share		 $17.07 $12.14 $16.29 $9.01 $25.27 $21.03 $24.74 $59.45 $30.06 $22.87 $40.54
Weighted Average Diluted Shares Outstanding		 473.20M 458.60M 435.10M 409.10M 390.20M 375.50M 360.30M 355.80M 358.10M 345.80M 333.60M
Weighted Average Basic & Diluted Shares Outstanding		 460.20M 450.90M 398.38M 379.89M 386.20M 345.67M 345.79M 337.92M 335.42M 325.56M 312.04M
Cash Dividends to Common per Share		 $2.25 $2.55 $2.60 $2.90 $3.15 $4.15 $5.00 $6.50 $9.00 $10.50 $11.50

Quarterly Income Statements for The Goldman Sachs Group

This table shows The Goldman Sachs Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,185 3,087 1,071 1,882 1,867 3,931 2,891 2,780 3,923 4,583 3,473
Consolidated Net Income / (Loss)		 1,326 3,234 1,216 2,058 2,008 4,132 3,043 2,990 4,111 4,738 3,723
Net Income / (Loss) Continuing Operations		 1,326 3,234 1,216 2,058 2,008 4,132 3,043 2,990 4,111 4,738 3,723
Total Pre-Tax Income 		1,530 3,993 1,736 2,756 2,254 5,237 3,916 3,987 5,257 5,647 4,958
Total Revenue		 10,593 12,224 10,895 11,817 11,318 14,213 12,731 12,699 13,869 15,062 14,583
Net Interest Income / (Expense)		 2,074 1,781 1,684 1,547 1,339 1,374 1,990 2,623 1,583 2,895 3,104
Total Interest Income		 12,411 14,938 16,836 18,257 18,484 19,555 20,440 21,448 19,954 19,383 19,789
Investment Securities Interest Income		 12,411 14,938 16,836 18,257 18,484 19,555 20,440 21,448 19,954 19,383 19,789
Total Interest Expense		 10,337 13,157 15,152 16,710 17,145 18,181 18,450 18,825 18,371 16,488 16,685
Long-Term Debt Interest Expense		 10,337 13,157 15,152 16,710 17,145 18,181 18,450 18,825 18,371 16,488 16,685
Total Non-Interest Income		 8,519 10,443 9,211 10,270 9,979 12,839 10,741 10,076 12,286 12,167 11,479
Trust Fees by Commissions		 3,226 3,377 3,249 3,292 3,403 3,568 3,584 3,522 4,008 3,985 4,038
Investment Banking Income		 1,873 1,578 1,432 1,555 1,653 2,085 1,733 1,864 2,056 1,916 2,194
Other Non-Interest Income		 3,420 5,488 4,530 5,423 4,923 7,186 5,424 4,690 6,222 6,266 5,247
Provision for Credit Losses		 972 -171 615 7.00 577 318 282 397 351 287 384
Total Non-Interest Expense		 8,091 8,402 8,544 9,054 8,487 8,658 8,533 8,315 8,261 9,128 9,241
Salaries and Employee Benefits		 3,764 4,090 3,619 4,188 3,602 4,585 4,240 4,122 3,759 4,876 4,685
Net Occupancy & Equipment Expense		 742 731 735 735 771 717 744 740 763 739 764
Marketing Expense		 216 172 146 136 175 153 153 159 181 156 167
Other Operating Expenses		 2,642 2,439 2,450 2,483 3,159 2,576 2,750 2,673 3,060 2,851 3,007
Depreciation Expense		 727 970 1,594 1,512 780 627 646 621 498 506 618
Income Tax Expense		 204 759 520 698 246 1,105 873 997 1,146 909 1,235
Preferred Stock Dividends Declared		 141 147 145 176 141 201 152 210 188 155 250
Basic Earnings per Share		 $3.39 $8.87 $3.09 $5.52 $5.57 $11.67 $8.73 $8.52 $12.15 $14.25 $11.03
Weighted Average Basic Shares Outstanding		 352.10M 346.60M 342.30M 338.70M 340.80M 335.60M 329.80M 324.80M 328.10M 320.80M 313.70M
Diluted Earnings per Share		 $3.32 $8.79 $3.08 $5.47 $5.53 $11.58 $8.62 $8.40 $11.94 $14.12 $10.91
Weighted Average Diluted Shares Outstanding		 358.10M 351.30M 347.20M 343.90M 345.80M 339.50M 335.50M 330.80M 333.60M 324.50M 318.30M
Weighted Average Basic & Diluted Shares Outstanding		 335.42M 332.45M 329.67M 326.11M 325.56M 322.46M 315.80M 313.91M 312.04M 306.84M 302.72M
Cash Dividends to Common per Share		 - $2.50 $2.50 $2.75 - $2.75 $2.75 $3.00 - $3.00 $3.00

Annual Cash Flow Statements for The Goldman Sachs Group

This table details how cash moves in and out of The Goldman Sachs Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 -3,842 18,414 28,272 -11,660 20,496 2,999 22,296 105,194 -19,211 -248 -59,485
Net Cash From Operating Activities		 -7,932 9,481 6,494 -20,489 16,564 23,868 -18,535 6,298 8,708 -12,587 -13,212
Net Cash From Continuing Operating Activities		 -7,932 9,481 6,494 -20,489 16,564 23,868 -18,535 6,298 8,708 -12,587 -13,212
Net Income / (Loss) Continuing Operations		 8,477 6,083 7,398 4,286 10,459 8,466 9,459 21,635 11,261 8,516 14,276
Consolidated Net Income / (Loss)		 8,477 6,083 7,398 4,286 10,459 8,466 9,459 21,635 11,261 8,516 14,276
Provision For Loan Losses		 - - 182 657 - 1,065 3,098 357 2,715 1,028 1,348
Depreciation Expense		 1,337 991 998 1,152 1,328 1,704 1,902 2,015 2,455 4,856 2,392
Non-Cash Adjustments to Reconcile Net Income		 2,291 2,663 2,665 11,842 -1,325 96,424 45,978 2,353 1,671 725 1,863
Changes in Operating Assets and Liabilities, net		 -20,037 -256 -4,749 -38,426 6,102 -83,791 -78,972 -20,062 -9,394 -27,712 -33,091
Net Cash From Investing Activities		 -14,909 -18,574 9,675 -26,377 -18,820 -24,236 -34,356 -30,465 -75,960 -17,312 -49,624
Net Cash From Continuing Investing Activities		 -14,909 -18,574 9,675 -26,377 -18,820 -24,236 -34,356 -30,465 -75,960 -17,312 -49,624
Purchase of Property, Leasehold Improvements and Equipment		 -678 -1,833 -2,865 -3,184 -7,982 -8,443 -6,309 -4,667 -3,748 -2,316 -2,091
Purchase of Investment Securities		 -15,775 -17,988 10,642 -36,798 -22,644 -40,237 -60,074 -75,432 -85,764 -45,609 -105,519
Sale of Property, Leasehold Improvements and Equipment		 30 228 381 574 3,711 6,632 2,970 3,933 2,706 3,278 1,613
Sale and/or Maturity of Investments		 1,514 1,019 1,517 13,031 8,095 17,812 29,057 45,701 10,846 27,335 56,373
Net Cash From Financing Activities		 18,999 27,507 12,103 35,206 22,752 3,367 70,380 134,738 59,602 27,800 7,323
Net Cash From Continuing Financing Activities		 18,999 27,507 12,103 35,202 22,752 3,367 70,380 134,738 59,602 27,800 7,323
Net Change in Deposits		 12,201 14,639 10,058 14,506 20,206 31,214 67,343 103,538 28,074 39,723 5,894
Issuance of Debt		 46,757 54,944 54,949 65,748 53,846 29,652 55,323 98,329 86,322 50,200 87,136
Issuance of Preferred Equity		 1,980 1,993 1,303 1,495 0.00 1,098 349 2,172 0.00 1,496 4,239
Repayment of Debt		 -34,952 -37,258 -46,245 -36,380 -46,725 -53,454 -48,609 -59,198 -48,175 -54,913 -76,555
Repurchase of Preferred Equity		 -1,611 -1.00 -1,171 -1,087 -685 -1,306 -361 -2,675 0.00 -1,000 -2,200
Repurchase of Common Equity		 -5,469 -4,135 -6,078 -6,772 -3,294 -5,335 -1,928 -5,200 -3,500 -5,796 -8,000
Payment of Dividends		 -1,454 -1,681 -1,706 -1,769 -1,810 -2,104 -2,336 -2,725 -3,682 -4,189 -4,497
Other Financing Activities, Net		 1,424 -1,253 987 -539 1,176 3,602 599 497 563 2,279 1,306
Effect of Exchange Rate Changes		 - - - - - - 4,807 -5,377 -11,561 1,851 -3,972
Cash Interest Paid		 - - - 11,174 16,721 18,645 9,091 5,521 19,022 60,026 72,623
Cash Income Taxes Paid		 - - - 1,425 1,271 1,266 2,754 6,195 4,555 2,389 3,673

Quarterly Cash Flow Statements for The Goldman Sachs Group

This table details how cash moves in and out of The Goldman Sachs Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 -42,426 -12,498 41,604 -31,052 1,698 -32,192 -3,059 -51,637 27,403 -14,684 -14,441
Net Cash From Operating Activities		 -33,162 9,404 31,901 -25,534 -28,358 -28,038 6,120 -38,060 46,766 -37,230 5,672
Net Cash From Continuing Operating Activities		 -33,162 9,404 31,901 -25,534 -28,358 -28,038 6,120 -38,060 46,766 -37,230 5,672
Net Income / (Loss) Continuing Operations		 1,326 3,234 1,216 2,058 2,008 4,132 3,043 2,990 4,111 4,738 3,723
Consolidated Net Income / (Loss)		 1,326 3,234 1,216 2,058 2,008 4,132 3,043 2,990 4,111 4,738 3,723
Provision For Loan Losses		 972 -171 615 7.00 577 318 282 397 351 287 384
Depreciation Expense		 727 970 1,594 1,512 780 627 646 621 498 506 618
Non-Cash Adjustments to Reconcile Net Income		 -2,140 1,617 -194 165,908 -166,606 1,904 84 19,562 -19,687 2,571 177
Changes in Operating Assets and Liabilities, net		 -34,047 3,754 28,670 -195,019 134,883 -35,019 2,065 -61,630 61,493 -45,332 770
Net Cash From Investing Activities		 -6,292 -1,978 -3,959 -8,033 -3,342 -7,980 -5,243 -29,286 -7,115 -22,747 -11,334
Net Cash From Continuing Investing Activities		 -6,292 -1,978 -3,959 -8,033 -3,342 -7,980 -5,243 -29,286 -7,115 -22,747 -11,334
Purchase of Property, Leasehold Improvements and Equipment		 -754 -597 -666 -507 -546 -497 -542 -466 -586 -499 -476
Purchase of Investment Securities		 -9,738 -9,964 -6,186 -11,035 -18,424 -25,546 -20,040 -37,978 -18,333 -52,377 -30,114
Sale of Property, Leasehold Improvements and Equipment		 1,434 417 245 489 2,127 399 448 305 461 145 247
Sale and/or Maturity of Investments		 2,766 8,166 2,648 3,020 13,501 17,664 18,513 8,853 11,343 29,984 19,009
Net Cash From Financing Activities		 -9,576 -20,544 13,886 6,442 28,016 7,171 -2,371 10,340 -7,817 42,826 -13,262
Net Cash From Continuing Financing Activities		 -9,576 -20,544 13,886 6,442 28,016 7,171 -2,371 10,340 -7,817 42,826 -13,262
Net Change in Deposits		 -11,100 -11,442 22,416 4,896 23,853 12,146 -7,474 10,480 -9,258 36,332 -9,088
Issuance of Debt		 12,752 16,754 3,131 11,106 19,209 21,810 14,152 17,959 32,720 29,054 23,219
Repayment of Debt		 -8,755 -22,011 -10,215 -8,576 -14,111 -23,238 -6,868 -18,735 -27,219 -18,029 -22,542
Repurchase of Common Equity		 -1,500 -2,546 -750 -1,500 -1,000 -1,500 -3,500 -1,000 -2,000 -4,360 -3,000
Payment of Dividends		 -1,013 -1,013 -1,012 -1,099 -1,065 -1,123 -1,052 -1,169 -1,153 -1,115 -1,223
Other Financing Activities, Net		 40 -286 316 1,119 1,130 -924 827 810 593 -951 -628
Effect of Exchange Rate Changes		 6,604 620 -224 -3,927 5,382 -3,345 -1,565 5,369 -4,431 2,467 4,483
Cash Interest Paid		 9,140 13,082 14,495 15,609 16,840 17,139 17,994 18,860 18,864 15,954 17,004
Cash Income Taxes Paid		 1,509 459 1,057 299 574 525 1,539 746 863 636 1,721

Annual Balance Sheets for The Goldman Sachs Group

This table presents The Goldman Sachs Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 855,842 861,395 860,165 916,776 931,796 992,968 1,163,028 1,463,988 1,441,799 1,641,594 1,675,972
Cash and Due from Banks		 57,600 93,439 121,711 110,051 130,547 133,546 155,842 261,036 241,825 241,577 182,092
Federal Funds Sold		 127,938 134,308 116,925 120,822 139,258 85,691 108,060 205,703 225,117 223,805 180,062
Trading Account Securities		 472,970 491,140 480,552 506,836 415,480 491,403 535,790 554,687 490,286 796,381 923,371
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Assets		 52,872 50,671 43,525 113,134 148,674 282,328 247,221 442,562 484,571 379,831 390,447
Total Liabilities & Shareholders' Equity		 855,842 861,395 860,165 916,776 931,796 992,968 1,163,028 1,463,988 1,441,799 1,641,594 1,675,972
Total Liabilities		 640,962 659,419 656,129 834,533 841,611 902,703 1,067,096 1,354,062 1,324,610 1,524,689 1,553,976
Non-Interest Bearing Deposits		 82,880 97,519 124,098 138,604 158,257 190,019 259,962 364,227 386,665 428,417 433,013
Short-Term Debt		 346,326 339,218 299,536 309,809 299,460 340,860 370,099 464,769 433,355 556,560 567,344
Long-Term Debt		 195,681 203,789 218,133 257,268 257,390 241,338 260,857 319,141 291,811 315,554 326,844
Other Long-Term Liabilities		 16,075 18,893 14,362 128,852 126,504 130,486 176,178 205,925 212,779 224,158 226,775
Commitments & Contingencies		 - - - - - - - - 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 82,797 86,728 86,893 82,243 90,185 90,265 95,932 109,926 117,189 116,905 121,996
Total Preferred & Common Equity		 82,797 86,728 86,893 82,243 90,185 90,265 95,932 109,926 117,189 116,905 121,996
Preferred Stock		 9,200 11,200 11,203 11,853 11,203 11,203 11,203 10,703 10,703 11,203 13,253
Total Common Equity		 73,597 75,528 75,690 70,390 78,982 79,062 84,729 99,223 106,486 105,702 108,743
Common Stock		 50,058 51,349 52,647 53,366 54,014 54,892 55,688 56,405 59,059 60,256 61,385
Retained Earnings		 78,984 83,386 89,039 91,519 100,100 106,465 112,947 131,811 139,372 143,688 153,412
Treasury Stock		 -58,468 -62,640 -68,694 -75,392 -78,670 -84,006 -85,940 -91,136 -94,631 -100,445 -108,500
Accumulated Other Comprehensive Income / (Loss)		 -743 -718 -1,216 -1,880 693 -1,484 -1,434 -2,068 -3,010 -2,918 -2,702
Other Equity Adjustments		 3,766 4,151 3,914 2,777 2,845 3,195 3,468 4,211 5,696 5,121 5,148

Quarterly Balance Sheets for The Goldman Sachs Group

This table presents The Goldman Sachs Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets		 1,441,799 1,538,349 1,571,386 1,577,153 1,641,594 1,698,440 1,653,313 1,728,080 1,675,972 1,766,181 1,785,009
Cash and Due from Banks		 241,825 229,327 270,931 239,879 241,577 209,385 206,326 154,689 182,092 167,408 152,967
Federal Funds Sold		 225,117 202,151 199,864 190,695 223,805 231,918 198,626 212,156 180,062 186,365 153,849
Trading Account Securities		 490,286 610,572 588,768 644,985 796,381 722,631 726,602 806,048 923,371 977,244 1,017,383
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Assets		 484,571 496,299 511,823 501,594 379,831 534,506 521,759 555,187 390,447 435,164 460,810
Total Liabilities & Shareholders' Equity		 1,441,799 1,538,349 1,571,386 1,577,153 1,641,594 1,698,440 1,653,313 1,728,080 1,675,972 1,766,181 1,785,009
Total Liabilities		 1,324,610 1,420,840 1,454,893 1,459,876 1,524,689 1,579,894 1,533,850 1,606,880 1,553,976 1,641,881 1,660,913
Non-Interest Bearing Deposits		 386,665 375,531 398,853 402,962 428,417 440,662 433,105 445,311 433,013 471,134 466,143
Short-Term Debt		 433,355 528,291 550,882 548,030 556,560 602,744 557,894 587,343 567,344 573,770 558,473
Long-Term Debt		 291,811 305,624 292,259 293,678 315,554 315,232 321,690 335,875 326,844 343,995 360,386
Other Long-Term Liabilities		 212,779 211,394 212,899 215,206 224,158 221,256 221,161 238,351 226,775 252,982 275,911
Commitments & Contingencies		 0.00 - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 117,189 117,509 116,493 117,277 116,905 118,546 119,463 121,200 121,996 124,300 124,096
Total Preferred & Common Equity		 117,189 117,509 116,493 117,277 116,905 118,546 119,463 121,200 121,996 124,300 124,096
Preferred Stock		 10,703 10,703 10,703 11,203 11,203 11,203 12,753 13,253 13,253 15,153 15,153
Total Common Equity		 106,486 106,806 105,790 106,074 105,702 107,343 106,710 107,947 108,743 109,147 108,943
Common Stock		 59,059 60,152 60,215 60,242 60,256 61,323 61,359 61,381 61,385 61,841 61,897
Retained Earnings		 139,372 141,591 141,798 142,743 143,688 146,690 148,652 150,454 153,412 157,019 159,535
Treasury Stock		 -94,631 -97,159 -97,917 -99,429 -100,445 -101,917 -105,459 -106,475 -108,500 -112,843 -115,869
Accumulated Other Comprehensive Income / (Loss)		 -3,010 -2,601 -3,237 -2,599 -2,918 -3,317 -2,900 -2,503 -2,702 -2,069 -1,985
Other Equity Adjustments		 5,696 4,823 4,931 5,117 5,121 4,564 5,058 5,090 5,148 5,199 5,365

Annual Metrics And Ratios for The Goldman Sachs Group

This table displays calculated financial ratios and metrics derived from The Goldman Sachs Group's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.94% -2.05% -8.96% 6.30% 11.87% -0.19% 21.93% 33.17% -20.18% -2.35% 15.69%
EBITDA Growth		 4.86% -28.66% 15.69% 8.69% 12.41% -11.02% 17.04% 102.07% -45.14% -2.17% 33.31%
EBIT Growth		 5.28% -28.96% 17.38% 8.04% 12.12% -15.21% 17.92% 116.72% -50.13% -20.37% 71.31%
NOPAT Growth		 5.44% -28.24% 21.62% -42.07% 144.03% -19.06% 11.73% 128.72% -47.95% -24.38% 67.64%
Net Income Growth		 5.44% -28.24% 21.62% -42.07% 144.03% -19.06% 11.73% 128.72% -47.95% -24.38% 67.64%
EPS Growth		 10.41% -28.88% 34.18% -44.69% 180.47% -16.78% 17.64% 140.30% -49.44% -23.92% 77.26%
Operating Cash Flow Growth		 -269.27% 219.53% -31.51% -415.51% 180.84% 44.10% -177.66% 133.98% 38.27% -244.55% -4.97%
Free Cash Flow Firm Growth		 165.04% -76.41% 70.55% 149.94% -83.38% -233.10% -165.10% -223.16% 143.18% -320.18% 90.67%
Invested Capital Growth		 -8.22% -1.57% -3.12% -10.03% -0.35% 3.93% 8.09% 22.97% -5.76% 17.41% 2.75%
Revenue Q/Q Growth		 -3.07% -1.21% 3.63% 0.43% -1.11% 5.41% 4.18% 1.54% -4.14% 1.59% 5.01%
EBITDA Q/Q Growth		 -3.28% -18.41% 25.65% -3.06% -9.69% -2.38% 29.24% -1.78% -16.96% 5.24% 15.06%
EBIT Q/Q Growth		 -2.69% -19.59% 29.14% -4.06% -10.79% -3.53% 34.78% -1.87% -20.58% 7.23% 19.51%
NOPAT Q/Q Growth		 -1.92% -18.72% 27.20% -49.94% 74.52% -6.83% 37.69% -2.57% -18.81% 8.71% 17.28%
Net Income Q/Q Growth		 -1.92% -18.72% 27.20% -49.94% 74.52% -6.83% 37.69% -2.57% -18.81% 8.71% 17.28%
EPS Q/Q Growth		 -1.22% -20.13% 29.29% -52.90% 79.22% -5.99% 42.68% -2.01% -20.14% 10.70% 18.78%
Operating Cash Flow Q/Q Growth		 21.99% 96.50% -47.12% -160.84% 344.13% 303.67% -192.26% 149.32% -87.93% 27.62% 85.04%
Free Cash Flow Firm Q/Q Growth		 199.26% 45.75% -13.08% 331.21% -88.73% -420.79% -542.93% 15.03% 490.82% -225.19% 82.41%
Invested Capital Q/Q Growth		 -2.48% -3.41% -2.71% -17.13% -4.35% -2.37% 6.03% 1.72% -7.30% 3.13% -2.70%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 39.66% 28.89% 36.71% 37.53% 37.71% 33.62% 32.27% 48.97% 33.66% 33.72% 38.85%
EBIT Margin		 35.79% 25.96% 33.47% 34.01% 34.09% 28.96% 28.00% 45.58% 28.47% 23.22% 34.38%
Profit (Net Income) Margin		 24.55% 17.99% 24.03% 13.10% 28.56% 23.17% 21.23% 36.46% 23.77% 18.41% 26.68%
Tax Burden Percent		 68.60% 69.30% 71.80% 38.50% 83.80% 80.00% 75.80% 80.00% 83.50% 79.30% 77.60%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 31.40% 30.70% 28.20% 61.50% 16.20% 20.00% 24.20% 20.00% 16.50% 20.70% 22.40%
Return on Invested Capital (ROIC)		 1.07% 0.81% 1.01% 0.63% 1.61% 1.28% 1.35% 2.67% 1.30% 0.93% 1.42%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.07% 0.81% 1.01% 0.63% 1.61% 1.28% 1.35% 2.67% 1.30% 0.93% 1.42%
Return on Net Nonoperating Assets (RNNOA)		 9.44% 6.37% 7.51% 4.44% 10.52% 8.10% 8.81% 18.35% 8.62% 6.35% 10.53%
Return on Equity (ROE)		 10.51% 7.18% 8.52% 5.07% 12.13% 9.38% 10.16% 21.02% 9.92% 7.28% 11.95%
Cash Return on Invested Capital (CROIC)		 9.64% 2.40% 4.18% 11.18% 1.97% -2.57% -6.43% -17.93% 7.23% -15.09% -1.29%
Operating Return on Assets (OROA)		 1.40% 1.02% 1.20% 1.25% 1.35% 1.10% 1.16% 2.06% 0.93% 0.70% 1.11%
Return on Assets (ROA)		 0.96% 0.71% 0.86% 0.48% 1.13% 0.88% 0.88% 1.65% 0.78% 0.55% 0.86%
Return on Common Equity (ROCE)		 9.44% 6.31% 7.42% 4.38% 10.51% 8.22% 8.94% 18.78% 8.98% 6.59% 10.73%
Return on Equity Simple (ROE_SIMPLE)		 10.24% 7.01% 8.51% 5.21% 11.60% 9.38% 9.86% 19.68% 9.61% 7.28% 11.70%
Net Operating Profit after Tax (NOPAT)		 8,477 6,083 7,398 4,286 10,459 8,466 9,459 21,635 11,261 8,516 14,276
NOPAT Margin		 24.55% 17.99% 24.03% 13.10% 28.56% 23.17% 21.23% 36.46% 23.77% 18.41% 26.68%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 43.00% 43.80% 43.85% 42.38% 40.69% 41.83% 35.94% 35.10% 39.68% 41.29% 37.97%
Operating Expenses to Revenue		 64.21% 74.04% 65.94% 63.98% 64.07% 68.13% 65.04% 53.82% 65.80% 74.56% 63.10%
Earnings before Interest and Taxes (EBIT)		 12,357 8,778 10,304 11,132 12,481 10,583 12,479 27,044 13,486 10,739 18,397
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 13,694 9,769 11,302 12,284 13,809 12,287 14,381 29,059 15,941 15,595 20,789
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.95 0.86 1.07 1.18 0.69 0.92 0.98 1.20 1.03 1.16 1.65
Price to Tangible Book Value (P/TBV)		 0.95 0.86 1.07 1.18 0.69 0.92 0.98 1.20 1.03 1.16 1.65
Price to Revenue (P/Rev)		 2.03 1.91 2.64 2.54 1.49 1.99 1.87 2.01 2.32 2.66 3.36
Price to Earnings (P/E)		 8.67 11.61 11.47 22.54 5.52 9.22 9.32 5.64 10.22 15.53 13.29
Dividend Yield		 1.40% 1.68% 1.27% 1.32% 2.15% 2.02% 2.07% 1.82% 2.77% 2.79% 2.01%
Earnings Yield		 11.53% 8.62% 8.72% 4.44% 18.11% 10.84% 10.73% 17.72% 9.78% 6.44% 7.52%
Enterprise Value to Invested Capital (EV/IC)		 0.51 0.53 0.51 0.66 0.55 0.66 0.63 0.50 0.45 0.55 0.71
Enterprise Value to Revenue (EV/Rev)		 11.12 11.56 12.07 13.17 9.63 12.23 10.35 7.54 8.00 11.69 13.55
Enterprise Value to EBITDA (EV/EBITDA)		 28.04 40.03 32.87 35.10 25.54 36.38 32.08 15.39 23.77 34.68 34.88
Enterprise Value to EBIT (EV/EBIT)		 31.08 44.55 36.06 38.73 28.26 42.24 36.97 16.54 28.10 50.36 39.41
Enterprise Value to NOPAT (EV/NOPAT)		 45.30 64.29 50.22 100.59 33.72 52.80 48.78 20.67 33.65 63.50 50.79
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 41.25 57.21 0.00 21.29 18.73 0.00 71.01 43.52 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 5.04 21.74 12.11 5.62 27.68 0.00 0.00 0.00 6.04 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 6.55 6.26 5.96 6.90 6.17 6.45 6.58 7.13 6.19 7.46 7.33
Long-Term Debt to Equity		 2.36 2.35 2.51 3.13 2.85 2.67 2.72 2.90 2.49 2.70 2.68
Financial Leverage		 8.81 7.86 7.45 7.11 6.52 6.31 6.52 6.87 6.64 6.82 7.39
Leverage Ratio		 10.96 10.13 9.92 10.51 10.72 10.67 11.58 12.76 12.79 13.17 13.89
Compound Leverage Factor		 10.96 10.13 9.92 10.51 10.72 10.67 11.58 12.76 12.79 13.17 13.89
Debt to Total Capital		 86.75% 86.23% 85.63% 87.33% 86.06% 86.58% 86.80% 87.70% 86.09% 88.18% 87.99%
Short-Term Debt to Total Capital		 55.43% 53.87% 49.55% 47.71% 46.28% 50.69% 50.92% 52.00% 51.45% 56.27% 55.83%
Long-Term Debt to Total Capital		 31.32% 32.36% 36.08% 39.62% 39.78% 35.89% 35.89% 35.70% 34.64% 31.91% 32.16%
Preferred Equity to Total Capital		 1.47% 1.78% 1.85% 1.83% 1.73% 1.67% 1.54% 1.20% 1.27% 1.13% 1.30%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 11.78% 11.99% 12.52% 10.84% 12.21% 11.76% 11.66% 11.10% 12.64% 10.69% 10.70%
Debt to EBITDA		 39.58 55.58 45.80 46.16 40.33 47.38 43.87 26.98 45.49 55.92 43.01
Net Debt to EBITDA		 22.25 32.27 24.69 27.37 20.79 29.54 25.52 10.91 16.20 26.08 25.59
Long-Term Debt to EBITDA		 14.29 20.86 19.30 20.94 18.64 19.64 18.14 10.98 18.31 20.23 15.72
Debt to NOPAT		 63.94 89.27 69.97 132.31 53.24 68.77 66.70 36.23 64.40 102.41 62.64
Net Debt to NOPAT		 35.95 51.83 37.72 78.44 27.44 42.87 38.80 14.66 22.93 47.76 37.27
Long-Term Debt to NOPAT		 23.08 33.50 29.49 60.03 24.61 28.51 27.58 14.75 25.91 37.05 22.89
Noncontrolling Interest Sharing Ratio		 10.17% 12.03% 12.90% 13.63% 13.37% 12.42% 12.03% 10.64% 9.43% 9.36% 10.24%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 76,246 17,987 30,676 76,671 12,744 -16,962 -44,966 -145,313 62,742 -138,148 -12,889
Operating Cash Flow to CapEx		 -1,224.07% 590.72% 261.43% -785.02% 387.82% 1,317.95% -555.11% 858.04% 835.70% 0.00% -2,764.02%
Free Cash Flow to Firm to Interest Expense		 13.72 3.34 4.32 7.53 0.80 -0.98 -5.03 -25.72 2.94 -2.22 -0.18
Operating Cash Flow to Interest Expense		 -1.43 1.76 0.91 -2.01 1.04 1.37 -2.07 1.11 0.41 -0.20 -0.18
Operating Cash Flow Less CapEx to Interest Expense		 -1.54 1.46 0.56 -2.27 0.77 1.27 -2.45 0.98 0.36 -0.19 -0.19
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.05 0.03 0.03 0.03
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 756,887 744,983 721,705 649,320 647,035 672,463 726,888 893,836 842,355 989,019 1,016,184
Invested Capital Turnover		 0.04 0.05 0.04 0.05 0.06 0.06 0.06 0.07 0.05 0.05 0.05
Increase / (Decrease) in Invested Capital		 -67,769 -11,904 -23,278 -72,385 -2,285 25,428 54,425 166,948 -51,481 146,664 27,165
Enterprise Value (EV)		 383,999 391,085 371,525 431,130 352,705 446,986 461,369 447,250 378,970 540,764 725,038
Market Capitalization		 70,046 64,625 81,289 83,073 54,457 72,822 83,112 119,376 110,043 122,829 179,751
Book Value per Share		 $168.98 $177.07 $190.34 $186.61 $212.33 $223.28 $246.26 $296.37 $314.46 $324.13 $346.41
Tangible Book Value per Share		 $168.98 $177.07 $190.34 $186.61 $212.33 $223.28 $246.26 $296.37 $314.46 $324.13 $346.41
Total Capital		 624,804 629,735 604,562 649,320 647,035 672,463 726,888 893,836 842,355 989,019 1,016,184
Total Debt		 542,007 543,007 517,669 567,077 556,850 582,198 630,956 783,910 725,166 872,114 894,188
Total Long-Term Debt		 195,681 203,789 218,133 257,268 257,390 241,338 260,857 319,141 291,811 315,554 326,844
Net Debt		 304,753 315,260 279,033 336,204 287,045 362,961 367,054 317,171 258,224 406,732 532,034
Capital Expenditures (CapEx)		 648 1,605 2,484 2,610 4,271 1,811 3,339 734 1,042 -962 478
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 674,090 658,255 634,812 567,077 556,850 582,198 630,956 783,910 725,166 872,114 894,188
Total Depreciation and Amortization (D&A)		 1,337 991 998 1,152 1,328 1,704 1,902 2,015 2,455 4,856 2,392
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $17.55 $0.00 $16.53 $9.12 $25.53 $21.18 $24.94 $60.25 $30.42 $23.05 $41.07
Adjusted Weighted Average Basic Shares Outstanding		 458.90M 0.00 427.40M 401.60M 385.40M 371.60M 356.40M 350.50M 352.10M 340.80M 328.10M
Adjusted Diluted Earnings per Share		 $17.07 $0.00 $16.29 $9.01 $25.27 $21.03 $24.74 $59.45 $30.06 $22.87 $40.54
Adjusted Weighted Average Diluted Shares Outstanding		 473.20M 0.00 435.10M 409.10M 390.20M 375.50M 360.30M 355.80M 358.10M 345.80M 333.60M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 435.62M 0.00 398.38M 379.89M 368.27M 345.67M 345.79M 337.92M 335.42M 325.56M 312.04M
Normalized Net Operating Profit after Tax (NOPAT)		 8,477 6,083 7,398 7,792 10,459 8,466 9,459 21,635 11,261 8,516 14,276
Normalized NOPAT Margin		 24.55% 17.99% 24.03% 23.81% 28.56% 23.17% 21.23% 36.46% 23.77% 18.41% 26.68%
Pre Tax Income Margin		 35.79% 25.96% 33.47% 34.01% 34.09% 28.96% 28.00% 45.58% 28.47% 23.22% 34.38%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.22 1.63 1.45 1.09 0.78 0.61 1.40 4.79 0.63 0.17 0.25
NOPAT to Interest Expense		 1.53 1.13 1.04 0.42 0.66 0.49 1.06 3.83 0.53 0.14 0.19
EBIT Less CapEx to Interest Expense		 2.11 1.33 1.10 0.84 0.52 0.50 1.02 4.66 0.58 0.19 0.24
NOPAT Less CapEx to Interest Expense		 1.41 0.83 0.69 0.16 0.39 0.38 0.68 3.70 0.48 0.15 0.19
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 17.15% 27.63% 23.06% 41.27% 17.31% 24.85% 24.70% 12.60% 32.70% 49.19% 31.50%
Augmented Payout Ratio		 81.67% 95.61% 105.22% 199.28% 48.80% 87.87% 45.08% 36.63% 63.78% 117.25% 87.54%

Quarterly Metrics And Ratios for The Goldman Sachs Group

This table displays calculated financial ratios and metrics derived from The Goldman Sachs Group's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -16.19% -5.48% -8.17% -1.32% 6.84% 16.27% 16.85% 7.46% 22.54% 5.97% 14.55%
EBITDA Growth		 -59.06% -3.59% -19.06% -3.48% 34.43% 18.15% 37.00% 7.97% 89.68% 4.93% 22.23%
EBIT Growth		 -69.55% -14.24% -51.02% -26.62% 47.32% 31.15% 125.58% 44.67% 133.23% 7.83% 26.61%
NOPAT Growth		 -66.30% -17.90% -58.46% -32.94% 51.43% 27.77% 150.25% 45.29% 104.73% 14.67% 22.35%
Net Income Growth		 -66.30% -17.90% -58.46% -32.94% 51.43% 27.77% 150.25% 45.29% 104.73% 14.67% 22.35%
EPS Growth		 -69.54% -18.31% -60.16% -33.70% 66.57% 31.74% 179.87% 53.56% 115.91% 21.93% 26.57%
Operating Cash Flow Growth		 -209.54% 148.14% -29.72% -259.49% 14.49% -398.15% -80.82% -49.06% 264.91% -32.78% -7.32%
Free Cash Flow Firm Growth		 132.39% 102.16% 66.67% -79.70% -373.93% -2,506.84% -50.38% -70.84% 84.06% 99.01% -10.49%
Invested Capital Growth		 -5.76% -0.01% 2.72% 5.54% 17.41% 8.94% 4.11% 8.91% 2.75% 0.53% 4.40%
Revenue Q/Q Growth		 -11.54% 15.40% -10.87% 8.46% -4.22% 25.58% -10.43% -0.25% 9.21% 8.60% -3.18%
EBITDA Q/Q Growth		 -48.96% 119.89% -32.90% 28.17% -28.91% 93.28% -22.20% 1.01% 24.89% 6.92% -9.38%
EBIT Q/Q Growth		 -59.27% 160.98% -56.52% 58.76% -18.21% 132.34% -25.22% 1.81% 31.85% 7.42% -12.20%
NOPAT Q/Q Growth		 -56.79% 143.89% -62.40% 69.24% -2.43% 105.78% -26.36% -1.74% 37.49% 15.25% -21.42%
Net Income Q/Q Growth		 -56.79% 143.89% -62.40% 69.24% -2.43% 105.78% -26.36% -1.74% 37.49% 15.25% -21.42%
EPS Q/Q Growth		 -59.76% 164.76% -64.96% 77.60% 1.10% 109.40% -25.56% -2.55% 42.14% 18.26% -22.73%
Operating Cash Flow Q/Q Growth		 -307.13% 128.36% 239.23% -180.04% -11.06% 1.13% 121.83% -721.90% 222.87% -179.61% 115.24%
Free Cash Flow Firm Q/Q Growth		 296.64% -93.63% -818.94% -99.54% -199.76% 44.03% 55.08% -126.68% 72.04% 96.51% -4,891.93%
Invested Capital Q/Q Growth		 -7.30% 12.95% 0.86% -0.07% 3.13% 4.80% -3.62% 4.54% -2.70% 2.55% 0.09%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 21.31% 40.60% 30.56% 36.12% 26.81% 41.26% 35.83% 36.29% 41.50% 40.85% 38.24%
EBIT Margin		 14.44% 32.67% 15.93% 23.32% 19.92% 36.85% 30.76% 31.40% 37.90% 37.49% 34.00%
Profit (Net Income) Margin		 12.52% 26.46% 11.16% 17.42% 17.74% 29.07% 23.90% 23.55% 29.64% 31.46% 25.53%
Tax Burden Percent		 86.67% 80.99% 70.05% 74.67% 89.09% 78.90% 77.71% 74.99% 78.20% 83.90% 75.09%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 13.33% 19.01% 29.95% 25.33% 10.91% 21.10% 22.29% 25.01% 21.80% 16.10% 24.91%
Return on Invested Capital (ROIC)		 0.68% 1.30% 0.54% 0.85% 0.90% 1.41% 1.22% 1.20% 1.58% 1.65% 1.41%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.68% 1.30% 0.54% 0.85% 0.90% 1.41% 1.22% 1.20% 1.58% 1.65% 1.41%
Return on Net Nonoperating Assets (RNNOA)		 4.54% 9.31% 3.81% 5.85% 6.11% 10.47% 8.92% 8.87% 11.70% 12.44% 10.38%
Return on Equity (ROE)		 5.22% 10.61% 4.35% 6.70% 7.01% 11.88% 10.15% 10.06% 13.28% 14.08% 11.78%
Cash Return on Invested Capital (CROIC)		 7.23% 1.12% -1.75% -4.55% -15.09% -7.61% -2.88% -7.31% -1.29% 0.90% -2.78%
Operating Return on Assets (OROA)		 0.47% 0.97% 0.46% 0.68% 0.60% 1.10% 0.96% 0.97% 1.22% 1.18% 1.11%
Return on Assets (ROA)		 0.41% 0.79% 0.32% 0.51% 0.53% 0.87% 0.74% 0.73% 0.96% 0.99% 0.83%
Return on Common Equity (ROCE)		 4.73% 9.63% 3.95% 6.08% 6.36% 10.78% 9.14% 9.03% 11.92% 12.55% 10.43%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 8.98% 7.59% 6.68% 0.00% 7.94% 9.41% 10.04% 0.00% 11.97% 12.54%
Net Operating Profit after Tax (NOPAT)		 1,326 3,234 1,216 2,058 2,008 4,132 3,043 2,990 4,111 4,738 3,723
NOPAT Margin		 12.52% 26.46% 11.16% 17.42% 17.74% 29.07% 23.90% 23.55% 29.64% 31.46% 25.53%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 44.58% 40.85% 41.30% 42.81% 40.18% 38.38% 40.35% 39.54% 33.91% 38.32% 38.51%
Operating Expenses to Revenue		 76.38% 68.73% 78.42% 76.62% 74.99% 60.92% 67.03% 65.48% 59.56% 60.60% 63.37%
Earnings before Interest and Taxes (EBIT)		 1,530 3,993 1,736 2,756 2,254 5,237 3,916 3,987 5,257 5,647 4,958
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,257 4,963 3,330 4,268 3,034 5,864 4,562 4,608 5,755 6,153 5,576
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.03 0.99 0.98 0.98 1.16 0.00 1.37 1.45 1.65 1.56 1.99
Price to Tangible Book Value (P/TBV)		 1.03 0.99 0.98 0.98 1.16 0.00 1.37 1.45 1.65 1.56 1.99
Price to Revenue (P/Rev)		 2.32 2.27 2.28 2.28 2.66 0.00 2.91 3.07 3.36 3.14 3.86
Price to Earnings (P/E)		 10.22 10.55 12.54 14.37 15.53 0.00 13.80 13.63 13.29 12.02 14.71
Dividend Yield		 2.77% 3.01% 3.19% 3.26% 2.79% 2.59% 2.43% 2.27% 2.01% 2.15% 1.70%
Earnings Yield		 9.78% 9.48% 7.98% 6.96% 6.44% 0.00% 7.25% 7.34% 7.52% 8.32% 6.80%
Enterprise Value to Invested Capital (EV/IC)		 0.45 0.55 0.51 0.55 0.55 0.00 0.63 0.70 0.71 0.72 0.81
Enterprise Value to Revenue (EV/Rev)		 8.00 11.12 10.66 11.56 11.69 0.00 12.64 14.25 13.55 13.79 15.02
Enterprise Value to EBITDA (EV/EBITDA)		 23.77 32.93 32.54 35.51 34.68 0.00 35.72 40.18 34.88 35.56 38.22
Enterprise Value to EBIT (EV/EBIT)		 28.10 40.46 44.23 52.54 50.36 0.00 44.71 47.16 39.41 39.86 42.54
Enterprise Value to NOPAT (EV/NOPAT)		 33.65 49.15 55.08 67.16 63.50 0.00 56.33 59.64 50.79 50.37 54.26
Enterprise Value to Operating Cash Flow (EV/OCF)		 43.52 13.78 20.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 6.04 48.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 80.27 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 6.19 7.10 7.24 7.18 7.46 7.74 7.36 7.62 7.33 7.38 7.40
Long-Term Debt to Equity		 2.49 2.60 2.51 2.50 2.70 2.66 2.69 2.77 2.68 2.77 2.90
Financial Leverage		 6.64 7.18 7.08 6.89 6.82 7.42 7.30 7.40 7.39 7.56 7.38
Leverage Ratio		 12.79 13.44 13.54 13.24 13.17 13.71 13.67 13.86 13.89 14.27 14.12
Compound Leverage Factor		 12.79 13.44 13.54 13.24 13.17 13.71 13.67 13.86 13.89 14.27 14.12
Debt to Total Capital		 86.09% 87.65% 87.86% 87.77% 88.18% 88.56% 88.04% 88.40% 87.99% 88.07% 88.10%
Short-Term Debt to Total Capital		 51.45% 55.53% 57.41% 57.15% 56.27% 58.15% 55.84% 56.24% 55.83% 55.06% 53.55%
Long-Term Debt to Total Capital		 34.64% 32.12% 30.46% 30.62% 31.91% 30.41% 32.20% 32.16% 32.16% 33.01% 34.55%
Preferred Equity to Total Capital		 1.27% 1.12% 1.12% 1.17% 1.13% 1.08% 1.28% 1.27% 1.30% 1.45% 1.45%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 12.64% 11.23% 11.02% 11.06% 10.69% 10.36% 10.68% 10.34% 10.70% 10.47% 10.45%
Debt to EBITDA		 45.49 52.93 56.31 56.80 55.92 55.65 49.62 51.10 43.01 43.54 41.59
Net Debt to EBITDA		 16.20 25.54 24.87 27.75 26.08 28.90 26.77 30.79 25.59 26.76 27.70
Long-Term Debt to EBITDA		 18.31 19.40 19.52 19.82 20.23 19.11 18.15 18.59 15.72 16.32 16.31
Debt to NOPAT		 64.40 79.00 95.32 107.44 102.41 97.51 78.25 75.84 62.64 61.67 59.05
Net Debt to NOPAT		 22.93 38.12 42.10 52.48 47.76 50.63 42.22 45.71 37.27 37.90 39.33
Long-Term Debt to NOPAT		 25.91 28.95 33.04 37.49 37.05 33.49 28.62 27.59 22.89 23.11 23.16
Noncontrolling Interest Sharing Ratio		 9.43% 9.20% 9.13% 9.26% 9.36% 9.28% 9.94% 10.26% 10.24% 10.85% 11.46%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 52,807 3,364 -24,185 -48,258 -144,656 -80,966 -36,370 -82,443 -23,054 -805 -40,185
Operating Cash Flow to CapEx		 0.00% 5,224.44% 7,577.43% -141,855.56% 0.00% -28,610.20% 6,510.64% -23,639.75% 37,412.80% -10,516.95% 2,476.86%
Free Cash Flow to Firm to Interest Expense		 5.11 0.26 -1.60 -2.89 -8.44 -4.51 -2.00 -4.38 -1.25 -0.05 -2.41
Operating Cash Flow to Interest Expense		 -3.21 0.71 2.11 -1.53 -1.65 -1.56 0.34 -2.02 2.55 -2.26 0.34
Operating Cash Flow Less CapEx to Interest Expense		 -3.14 0.70 2.08 -1.53 -1.56 -1.57 0.33 -2.03 2.54 -2.28 0.33
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 842,355 951,424 959,634 958,985 989,019 1,036,522 999,047 1,044,418 1,016,184 1,042,065 1,042,955
Invested Capital Turnover		 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.06
Increase / (Decrease) in Invested Capital		 -51,481 -130 25,401 50,316 146,664 85,098 39,413 85,433 27,165 5,543 43,908
Enterprise Value (EV)		 378,970 518,858 487,152 526,149 540,764 0.00 633,242 725,982 725,038 749,609 844,363
Market Capitalization		 110,043 105,718 104,103 103,812 122,829 0.00 145,857 156,356 179,751 170,464 217,167
Book Value per Share		 $314.46 $318.42 $318.22 $321.76 $324.13 $319.85 $330.92 $341.82 $346.41 $349.79 $355.05
Tangible Book Value per Share		 $314.46 $318.42 $318.22 $321.76 $324.13 $319.85 $330.92 $341.82 $346.41 $349.79 $355.05
Total Capital		 842,355 951,424 959,634 958,985 989,019 1,036,522 999,047 1,044,418 1,016,184 1,042,065 1,042,955
Total Debt		 725,166 833,915 843,141 841,708 872,114 917,976 879,584 923,218 894,188 917,765 918,859
Total Long-Term Debt		 291,811 305,624 292,259 293,678 315,554 315,232 321,690 335,875 326,844 343,995 360,386
Net Debt		 258,224 402,437 372,346 411,134 406,732 476,673 474,632 556,373 532,034 563,992 612,043
Capital Expenditures (CapEx)		 -680 180 421 18 -1,581 98 94 161 125 354 229
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 725,166 833,915 843,141 841,708 872,114 917,976 879,584 923,218 894,188 917,765 918,859
Total Depreciation and Amortization (D&A)		 727 970 1,594 1,512 780 627 646 621 498 506 618
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.39 $8.87 $3.09 $5.52 $5.57 $11.67 $8.73 $8.52 $12.15 $14.25 $11.03
Adjusted Weighted Average Basic Shares Outstanding		 352.10M 346.60M 342.30M 338.70M 340.80M 335.60M 329.80M 324.80M 328.10M 320.80M 313.70M
Adjusted Diluted Earnings per Share		 $3.32 $8.79 $3.08 $5.47 $5.53 $11.58 $8.62 $8.40 $11.94 $14.12 $10.91
Adjusted Weighted Average Diluted Shares Outstanding		 358.10M 351.30M 347.20M 343.90M 345.80M 339.50M 335.50M 330.80M 333.60M 324.50M 318.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 335.42M 332.45M 329.67M 326.11M 325.56M 322.46M 315.80M 313.91M 312.04M 306.84M 302.72M
Normalized Net Operating Profit after Tax (NOPAT)		 1,326 3,234 1,216 2,058 2,008 4,132 3,043 2,990 4,111 4,738 3,723
Normalized NOPAT Margin		 12.52% 26.46% 11.16% 17.42% 17.74% 29.07% 23.90% 23.55% 29.64% 31.46% 25.53%
Pre Tax Income Margin		 14.44% 32.67% 15.93% 23.32% 19.92% 36.85% 30.76% 31.40% 37.90% 37.49% 34.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.15 0.30 0.11 0.16 0.13 0.29 0.22 0.21 0.29 0.34 0.30
NOPAT to Interest Expense		 0.13 0.25 0.08 0.12 0.12 0.23 0.17 0.16 0.22 0.29 0.22
EBIT Less CapEx to Interest Expense		 0.21 0.29 0.09 0.16 0.22 0.29 0.21 0.20 0.28 0.32 0.28
NOPAT Less CapEx to Interest Expense		 0.19 0.23 0.05 0.12 0.21 0.22 0.16 0.15 0.22 0.27 0.21
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 32.70% 36.76% 45.62% 52.81% 49.19% 45.67% 38.60% 36.22% 31.50% 30.16% 29.94%
Augmented Payout Ratio		 63.78% 89.30% 111.15% 133.18% 117.25% 96.12% 105.32% 93.72% 87.54% 103.14% 96.52%

Financials Breakdown Chart

Key Financial Trends

Goldman Sachs Group (NYSE: GS) shows a generally positive financial performance and stable balance sheet through the recent years, with some fluctuations in key metrics. Below are the key observations and trends based on the analysis of their cash flow, income, and balance sheet statements from Q3 2022 through Q2 2025.

  • Consistent Profitability: Net income has grown from approximately $1.3 billion in Q4 2022 to $3.7 billion in Q2 2025, demonstrating solid earnings growth over time.
  • Increasing Revenues: Total revenues increased from around $10.6 billion in Q4 2022 to nearly $14.6 billion in Q2 2025, reflecting growth in interest and non-interest income streams, including investment banking and commissions.
  • Strong Operating Cash Flow: Despite some quarter-to-quarter volatility, operating cash flow remains positive recently, recording $5.67 billion in Q2 2025, indicating efficient cash generation from core operations.
  • Growth in Common Equity: Total common equity increased gradually to about $109 billion as of Q2 2025, showing strengthening shareholders’ equity and retention of earnings.
  • Stable Dividend Policy: Consistent cash dividends to common shareholders at $3.00 per share in Q2 2025, up from $2.50-$2.75 per share in 2023, supporting investor returns.
  • Interest Expense vs. Income: Net interest income remains positive but fluctuating; for instance, Q2 2025 net interest was about $3.1 billion with significant interest expenses (~$16.7 billion) offset mainly by high investment interest income (~$19.8 billion).
  • Investment Securities Activity: Large purchase and sale volumes of investment securities are evident, with net investing cash outflows ($11.3 billion in Q2 2025) due to sizable security purchases offset partially by sales and maturities.
  • Share Repurchases and Debt Issuance: The company actively repurchases common equity ($3 billion in Q2 2025) but also manages significant debt issuance and repayment, keeping long-term debt around $360 billion and short-term debt around $558 billion in Q2 2025.
  • Volatility in Cash Flows: Cash flows from operating activities showed a sharp negative in Q1 2025 (-$37.2 billion), reflecting volatility likely associated with changes in operating capital and asset/liabilities adjustments.
  • Elevated Non-Interest Expenses: Non-interest expenses remain high, around $9.2 billion in Q2 2025, including salaries, occupancy, marketing, and other operating expenses, which could pressure margins if revenue growth slows.
  • Deposits Decline: The net decrease in deposits of about $9 billion in Q2 2025, and considerable fluctuations in deposit balances over quarters could impact funding stability.
  • High Cash Interest Paid: Interest paid on debt is substantial, with $17 billion paid in Q2 2025, representing a significant expense.

Summary: Goldman Sachs has demonstrated growing profitability and revenue expansion through Q2 2025 with strong equity and disciplined dividend payments. However, investors should be aware of the notable volatility in cash flow from operations and increased non-interest expenses. The firm's active balance sheet management with large debt levels and investment security trades underscore the bank's complex capital structure and risk management. Overall, Goldman Sachs appears fundamentally solid with potential for continued growth, balanced by the need to monitor expense control and funding stability closely.

10/01/25 02:44 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About The Goldman Sachs Group's Financials

When does The Goldman Sachs Group's financial year end?

According to the most recent income statement we have on file, The Goldman Sachs Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has The Goldman Sachs Group's net income changed over the last 10 years?

The Goldman Sachs Group's net income appears to be on an upward trend, with a most recent value of $14.28 billion in 2024, rising from $8.48 billion in 2014. The previous period was $8.52 billion in 2023. See where experts think The Goldman Sachs Group is headed by visiting The Goldman Sachs Group's forecast page.

How has The Goldman Sachs Group's revenue changed over the last 10 years?

Over the last 10 years, The Goldman Sachs Group's total revenue changed from $34.53 billion in 2014 to $53.51 billion in 2024, a change of 55.0%.

How much debt does The Goldman Sachs Group have?

The Goldman Sachs Group's total liabilities were at $1.55 trillion at the end of 2024, a 1.9% increase from 2023, and a 142.4% increase since 2014.

How much cash does The Goldman Sachs Group have?

In the past 10 years, The Goldman Sachs Group's cash and equivalents has ranged from $57.60 billion in 2014 to $261.04 billion in 2021, and is currently $182.09 billion as of their latest financial filing in 2024.

How has The Goldman Sachs Group's book value per share changed over the last 10 years?

Over the last 10 years, The Goldman Sachs Group's book value per share changed from 168.98 in 2014 to 346.41 in 2024, a change of 105.0%.


Related Companies

This page (NYSE:GS) was last updated on 10/1/2025 by MarketBeat.com Staff
From Our Partners
Magnificent 7 being replaced by the “Hidden 7”?
BULLISH: It's time to buy this 'hidden' AI stock An award-winning stock-rating system has turned BULLISH on...
Chaikin Analytics | Sponsoredtc pixel
6-Figure Target for BTC by 2025
Crypto ETF records broken – here's what’s next The biggest names in finance have built the infrastructure f...
Crypto 101 Media | Sponsoredtc pixel
Building The Infrastructure for the Coming Financial Reset
While China pushes nearly $1 trillion through its new digital currency, one emerging company is quietly buildi...
Intellistake | Sponsoredtc pixel
Tilson: “I’m watching HOOD”
A strange chasm is coming to Wall Street... It's already creating millionaires and billionaires at the fast...
Stansberry Research | Sponsoredtc pixel
The Tiny Stock Set to Soar with Musk's AI Ambitions
The Tiny Stock Set to Soar with Musk's AI Ambitions While Musk builds one of the most ambitious AI empires ...
Behind the Markets | Sponsoredtc pixel
Your Bank Account Is No Longer Safe
What If Washington Declared That: YOUR Money ISN'T Actually Yours? Sounds insane, but that's exactly what ...
Priority Gold | Sponsoredtc pixel
Trump is Fast-Tracking These Three Companies
The Trump administration is planning to invest DIRECTLY in a small sector of the stock market… And they just r...
InvestorPlace | Sponsoredtc pixel
Nvidia Times 1,000,000
Nvidia’s latest AI chip is a $25,000 powerhouse — with 80 billion transistors and the ability to perform 60 tr...
Paradigm Press | Sponsoredtc pixel