The Goldman Sachs Group, Inc.(GS)Earnings, Financials & Key Ratios

GS•NYSE•Banking & Credit

21.4× P/E·Price updated Jun 19, 2026

SectorFinancial Services IndustryCapital Markets Sub-IndustryInvestment Banking and M&A Advisory

AboutThe Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The company's Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services. This segment also offers underwriting services, such as equity underwriting for common and preferred stock and convertible and exchangeable securities; and debt underwriting for various types of debt instruments, including investment-grade and high-yield debt, bank and bridge loans, and emerging-and growth-market debt, as well as originates structured securities. Its Global Markets segment is involved in client execution activities for cash and derivative instruments; credit and interest rate products; and provision of equity intermediation and equity financing, clearing, settlement, and custody services, as well as mortgages, currencies, commodities, and equities related products. The company's Asset Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds, private equity, real estate, currencies, and commodities; and provides customized investment advisory solutions, as well as invests in corporate, real estate, and infrastructure entities. Its Consumer & Wealth Management segment offers wealth advisory and banking services, including financial planning, investment management, deposit taking, and lending; private banking; and unsecured loans, as well as accepts saving and time deposits. The company was founded in 1869 and is headquartered in New York, New York.Show more

Net Interest Income$13.56B+68.3%
Total Revenue$125.1B-1.4%
Net Income$17.18B+20.3%
Return on Equity13.91%+16.4%
Net Interest Margin0.75%+55.9%
Efficiency Ratio30.01%+12.7%
ROA0.99%+14.5%
Equity / Assets6.91%-5.1%
Book Value per Share393.49+7.6%

GS Key Insights

The Goldman Sachs Group, Inc. (GS) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Efficient operations: 30.0% efficiency ratio
✓14 consecutive years of dividend growth
✓Momentum leader: RS Rating 82 (top 18%)
✓Share count reduced 4.8% through buybacks
✓Diversified revenue: 35.8% from non-interest income
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 4.9x
✗Weak NIM of 0.7%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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GS Price & Volume

The Goldman Sachs Group, Inc. (GS) stock price & volume — 10-year historical chart

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GS Growth Metrics

The Goldman Sachs Group, Inc. (GS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years12.31%

5 Years18.52%

3 Years22.11%

TTM-

Profit CAGR

10 Years10.94%

5 Years12.67%

3 Years15.11%

TTM20.31%

EPS CAGR

10 Years15.51%

5 Years15.71%

3 Years19.52%

TTM26.56%

Return on Capital

10 Years3.25%

5 Years3.72%

3 Years3.28%

Last Year3.97%

GS Recent Earnings

The Goldman Sachs Group, Inc. (GS) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 12/12 qtrs (100%)●Beat Revenue 10/12 qtrs (91%)

Q2 2026Latest

Apr 13, 2026

Metric

Actual

Est

EPS

$17.55+6.6%

$16.47

Rev

$17.2B+1.4%

$17.0B

Q1 2026

Jan 21, 2026

Metric

Actual

Est

EPS

$11.95+3.7%

$11.52

Rev

$30.1B

—

Q1 2026

Jan 15, 2026

Metric

Actual

Est

EPS

$14.01+19.7%

$11.70

Rev

$13.5B-7.3%

$14.5B

Q4 2025

Oct 14, 2025

Metric

Actual

Est

EPS

$12.25+11.1%

$11.03

Rev

$15.2B+7.5%

$14.1B

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 13, 2026	$17.55vs $16.47+6.6%	$17.2Bvs $17.0B+1.4%
Q1 2026	Jan 21, 2026	$11.95vs $11.52+3.7%	$30.1B
Q1 2026	Jan 15, 2026	$14.01vs $11.70+19.7%	$13.5Bvs $14.5B-7.3%
Q4 2025	Oct 14, 2025	$12.25vs $11.03+11.1%	$15.2Bvs $14.1B+7.5%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
MSMorgan StanleyDirect Competitor	355.51B	223.17	21.88	11.48%	14.66%	15.3%	4.22
JPMJPMorgan Chase & Co.Direct Competitor	908.57B	325.22	16.22	3.31%	20.35%	15.95%	2.60
BACBank of America CorporationDirect Competitor	424.14B	56.20	14.71	-0.45%	15.93%	10.15%	1.21
CCitigroup Inc.Direct Competitor	266.52B	143.09	20.47	-1.41%	8.48%	6.67%	3.35
BXBlackstone Inc.Direct Competitor	96.99B	123.78	31.90	21.58%	21.83%	14.35%	0.61
KKRKKR & Co. Inc.Direct Competitor	86.49B	97.01	41.46	-10.99%	12.45%	3.19%	0.67
LAZLazard LtdProduct Competitor	4.16B	44.30	20.41	3.25%	7.5%	26.7%	2.61
EVREvercore Inc.Product Competitor	14.72B	371.72	26.46	29.49%	15.26%	29.32%	0.50

Compare GS vs Peers

The Goldman Sachs Group, Inc. (GS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MS

Most directly comparable listed peer for GS.

Scale Benchmark

vs JPM

Larger-name benchmark to compare GS against a more recognizable public peer.

Peer Set

Compare Top 5

vs MS, JPM, BAC, C

GS Income Statement

The Goldman Sachs Group, Inc. (GS) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Net Interest Income	2.93B	3.77B	4.36B	4.75B	6.47B	7.68B	6.35B	8.06B	13.56B
NII Growth %	13.34%	28.48%	15.8%	8.92%	36.18%	18.67%	-17.28%	26.85%	68.31%
Net Interest Margin %	0.32%	0.4%	0.44%	0.41%	0.44%	0.53%	0.39%	0.48%	0.75%
Interest Income	13.11B	19.68B	21.74B	13.69B	12.12B	29.02B	68.52B	81.4B	80.37B
Interest Expense	10.18B	15.91B	17.38B	8.94B	5.65B	21.35B	62.16B	73.34B	66.81B
Loan Loss Provision	657M	674M	1.06B	3.1B	357M	2.71B	1.03B	1.35B	-1.11B
Non-Interest Income	29.68B	32.69B	32.16B	39.81B	52.87B	39.69B	39.9B	45.46B	44.72B
Non-Interest Income %	69.36%	62.42%	59.67%	74.41%	81.35%	57.76%	36.8%	35.83%	35.75%
Total Revenue	42.8B▲ 0%	52.37B▲ 22.4%	53.9B▲ 2.9%	53.5B▼ 0.8%	64.99B▲ 21.5%	68.71B▲ 5.7%	108.42B▲ 57.8%	126.85B▲ 17.0%	125.1B▼ 1.4%
Revenue Growth %	12.94%	22.36%	2.93%	-0.75%	21.48%	5.73%	57.79%	17%	-1.38%
Non-Interest Expense	20.83B	23.3B	24.88B	28.98B	31.94B	31.16B	34.49B	33.77B	37.54B
Efficiency Ratio	48.66%	44.49%	46.15%	54.18%	49.14%	45.36%	31.81%	26.62%	30.01%
Operating Income	11.13B▲ 0%	12.48B▲ 12.1%	10.58B▼ 15.2%	12.48B▲ 17.9%	27.04B▲ 116.7%	13.49B▼ 50.1%	10.74B▼ 20.4%	18.4B▲ 71.3%	21.85B▲ 18.8%
Operating Margin %	26.01%	23.83%	19.63%	23.33%	41.61%	19.63%	9.91%	14.5%	17.47%
Operating Income Growth %	8.04%	12.12%	-15.21%	17.92%	116.72%	-50.13%	-20.37%	71.31%	18.78%
Pretax Income	11.13B▲ 0%	12.48B▲ 12.1%	10.58B▼ 15.2%	12.48B▲ 17.9%	27.04B▲ 116.7%	13.49B▼ 50.1%	10.74B▼ 20.4%	18.4B▲ 71.3%	21.85B▲ 18.8%
Pretax Margin %	26.01%	23.83%	19.63%	23.33%	41.61%	19.63%	9.91%	14.5%	17.47%
Income Tax	6.85B	2.02B	2.12B	3.02B	5.41B	2.23B	2.22B	4.12B	4.68B
Effective Tax Rate %	61.5%	16.2%	20%	24.2%	20%	16.5%	20.7%	22.4%	21.4%
Net Income	4.29B▲ 0%	10.46B▲ 144.0%	8.47B▼ 19.1%	9.46B▲ 11.7%	21.64B▲ 128.7%	11.26B▼ 48.0%	8.52B▼ 24.4%	14.28B▲ 67.6%	17.18B▲ 20.3%
Net Margin %	10.01%	19.97%	15.71%	17.68%	33.29%	16.39%	7.85%	11.25%	13.73%
Net Income Growth %	-42.07%	144.03%	-19.06%	11.73%	128.72%	-47.95%	-24.38%	67.64%	20.31%
Net Income (Continuing)	4.29B	10.46B	8.47B	9.46B	21.64B	11.26B	8.52B	14.28B	17.18B
EPS (Diluted)	9.01▲ 0%	25.27▲ 180.5%	21.03▼ 16.8%	24.74▲ 17.6%	59.45▲ 140.3%	30.06▼ 49.4%	22.87▼ 23.9%	40.54▲ 77.3%	51.32▲ 26.6%
EPS Growth %	-47%	180.47%	-16.78%	17.64%	140.3%	-49.44%	-23.92%	77.26%	26.59%
EPS (Basic)	9.12	25.53	21.25	25.01	60.35	30.57	23.05	41.22	51.95
Diluted Shares Outstanding	409.1M	390.2M	375.5M	360.3M	355.8M	358.1M	345.8M	333.6M	317.6M

GS Balance Sheet

The Goldman Sachs Group, Inc. (GS) balance sheet — assets, liabilities & shareholders' equity

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash & Short Term Investments	230.87B	505.15B	529.35B	588.48B	778.72B	721.95B	924.95B	921.83B	624.53B
Cash & Due from Banks	110.05B	130.55B	133.55B	155.84B	261.04B	241.82B	241.58B	182.09B	164.26B
Short Term Investments	120.82B	374.61B	395.8B	432.63B	517.68B	480.13B	683.37B	739.74B	460.27B
Total Investments	503.55B	565.58B	615.3B	710.12B	832.47B	841.82B	1.04T	1.14T	930.15B
Investments Growth %	8.69%	12.32%	8.79%	15.41%	17.23%	1.12%	23.13%	9.59%	-18.12%
Long-Term Investments	382.72B	190.97B	219.5B	277.49B	314.79B	361.69B	353.19B	396.26B	469.88B
Accounts Receivables	84.79B	72.45B	74.61B	121.33B	160.67B	135.45B	132.5B	133.72B	185.84B
Goodwill & Intangibles	4.04B	4.08B	4.84B	4.96B	4.7B	8.38B	7.09B	6.7B	6.79B
Goodwill	3.67B	3.76B	4.2B	4.33B	4.29B	6.37B	5.92B	5.85B	5.95B
Intangible Assets	373M	324M	641M	630M	418M	2.01B	1.18B	847M	842M
PP&E (Net)	15.09B	18.32B	24.25B	25.43B	20.39B	19.25B	13.41B	9.99B	9.52B
Other Assets	190.04B	134.22B	134.63B	138.29B	175.2B	183.5B	194.37B	189.98B	304.55B
Total Current Assets	324.88B	584.21B	609.75B	716.86B	948.91B	868.98B	1.07T	1.07T	1.02T
Total Non-Current Assets	591.9B	347.59B	383.22B	446.16B	515.08B	572.82B	568.07B	602.93B	790.74B
Total Assets	916.78B▲ 0%	931.8B▲ 1.6%	992.97B▲ 6.6%	1.16T▲ 17.1%	1.46T▲ 25.9%	1.44T▼ 1.5%	1.64T▲ 13.9%	1.68T▲ 2.1%	1.81T▲ 8.0%
Asset Growth %	6.58%	1.64%	6.57%	17.13%	25.88%	-1.52%	13.86%	2.09%	7.96%
Return on Assets (ROA)	0.48%	1.13%	0.88%	0.88%	1.65%	0.78%	0.55%	0.86%	0.99%
Accounts Payable	178.17B	180.24B	174.82B	190.66B	251.93B	262.05B	230.73B	223.25B	231.87B
Total Debt	374.12B	364.81B	394.78B	420.96B	487.76B	434.55B	583.13B	616.93B	609.53B
Net Debt	264.06B	234.26B	261.24B	265.12B	226.73B	192.72B	341.56B	434.84B	445.27B
Long-Term Debt	227.58B	236.03B	219.03B	226.02B	263.47B	254.25B	247.87B	249.87B	296.21B
Short-Term Debt	146.54B	128.78B	173.37B	192.66B	222.01B	178.15B	333.04B	365B	311.15B
Other Liabilities	138.19B	65.79B	70.42B	92.94B	112.53B	96.03B	128.37B	143.77B	159.16B
Total Current Liabilities	468.76B	539.79B	610.87B	745.86B	975.78B	972.18B	1.15T	1.16T	1.23T
Total Non-Current Liabilities	365.77B	301.82B	291.83B	321.24B	378.28B	352.43B	378.47B	395.7B	457.54B
Total Liabilities	834.53B	841.61B	902.7B	1.07T	1.35T	1.32T	1.52T	1.55T	1.68T
Total Equity	82.24B▲ 0%	90.19B▲ 9.7%	90.27B▲ 0.1%	95.93B▲ 6.3%	109.93B▲ 14.6%	117.19B▲ 6.6%	116.91B▼ 0.2%	122B▲ 4.4%	124.97B▲ 2.4%
Equity Growth %	-5.35%	9.66%	0.09%	6.28%	14.59%	6.61%	-0.24%	4.35%	2.44%
Equity / Assets (Capital Ratio)	8.97%	9.68%	9.09%	8.25%	7.51%	8.13%	7.12%	7.28%	6.91%
Return on Equity (ROE)	5.07%	12.13%	9.38%	10.16%	21.02%	9.92%	7.28%	11.95%	13.91%
Book Value per Share	201.03	231.13	240.39	266.26	308.95	327.25	338.07	365.70	393.49
Tangible BV per Share	191.16	220.66	227.50	252.48	295.74	303.84	317.56	345.61	372.11
Common Stock	9M	9M	9M	9M	9M	9M	9M	9M	9M
Additional Paid-in Capital	53.36B	54.01B	54.88B	55.68B	56.4B	59.05B	60.25B	61.38B	61.91B
Retained Earnings	91.52B	100.1B	106.47B	112.95B	131.81B	139.37B	143.69B	153.41B	165.29B
Accumulated OCI	-1.88B	693M	-1.48B	-1.43B	-2.07B	-3.01B	-2.92B	-2.7B	-2.26B
Treasury Stock	-75.39B	-78.67B	-84.01B	-85.94B	-91.14B	-94.63B	-100.44B	-108.5B	-120.92B
Preferred Stock	11.85B	11.2B	11.2B	11.2B	10.7B	10.7B	11.2B	13.25B	15.15B

GS Cash Flow Statement

The Goldman Sachs Group, Inc. (GS) cash flow — operating, investing & free cash flow history

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	-17.74B	20.42B	23.87B	-18.54B	6.3B	8.71B	-12.59B	-13.21B	-45.15B
Operating CF Growth %	-418.53%	215.1%	16.88%	-177.66%	133.98%	38.27%	-244.55%	-4.97%	-241.77%
Net Income	4.29B	10.46B	8.47B	9.46B	21.64B	11.26B	8.52B	14.28B	17.18B
Depreciation & Amortization	1.15B	1.33B	1.7B	1.9B	2.02B	2.46B	4.86B	2.39B	2.18B
Deferred Taxes	5.46B	-2.65B	-334M	-833M	5M	-2.41B	-1.36B	-800M	204M
Other Non-Cash Items	-10.81B	-22.87B	1.04B	-33.79B	7.12B	2.71B	1.03B	1.35B	-68.16B
Working Capital Changes	-19.59B	32.31B	10.97B	2.81B	-27.03B	-9.39B	-27.71B	-33.09B	0
Cash from Investing	-29.12B	-22.68B	-24.24B	-34.36B	-30.46B	-75.96B	-17.31B	-49.62B	-44.23B
Purchase of Investments	-9.85B	-3.79B	-29.77B	-48.67B	-39.91B	-60.54B	-40.26B	-92.1B	0
Sale/Maturity of Investments	2.89B	411M	17.81B	29.06B	45.7B	12.96B	26.85B	56.37B	0
Net Investment Activity	-6.97B	-3.38B	-11.96B	-19.61B	5.79B	-47.58B	-13.41B	-35.72B	0
Acquisitions	-2.38B	-162M	-803M	-231M	3.93B	-2.12B	487M	3.62B	0
Other Investing	-16.58B	-11.15B	-3.03B	-8.2B	-35.52B	-22.52B	-2.08B	-15.43B	-42.16B
Cash from Financing	35.2B	22.75B	3.37B	70.38B	134.74B	59.6B	27.8B	7.32B	66.1B
Dividends Paid	-1.77B	-1.81B	-2.1B	-2.34B	-2.73B	-3.68B	-4.19B	-4.5B	-5.28B
Share Repurchases	-7.62B	-3.29B	-6.43B	-2.28B	-7.88B	-3.5B	-6.8B	-10.2B	-12.36B
Stock Issued	1.5B	38M	1.1B	349M	2.17B	0	1.5B	4.24B	1.9B
Net Stock Activity	-6.13B	-3.26B	-5.34B	-1.93B	-5.7B	-3.5B	-5.3B	-5.96B	-10.46B
Debt Issuance (Net)	1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	1000K	0
Other Financing	13.96B	21.38B	35.56B	68.77B	104.52B	30.23B	42B	7.2B	81.84B
Net Change in Cash	-11.66B▲ 0%	20.5B▲ 275.8%	3B▼ 85.4%	22.3B▲ 643.4%	105.19B▲ 371.8%	-19.21B▼ 118.3%	-248M▲ 98.7%	-59.48B▼ 23885.9%	-17.83B▲ 70.0%
Exchange Rate Effect	0	0	0	4.81B	-5.38B	-11.56B	1.85B	-3.97B	5.45B
Cash at Beginning	121.71B	110.05B	130.55B	133.55B	155.84B	261.04B	241.82B	241.58B	182.09B
Cash at End	110.05B	130.55B	133.55B	155.84B	261.04B	241.82B	241.58B	182.09B	164.26B
Interest Paid	11.17B	16.72B	18.64B	9.09B	5.52B	19.02B	60.03B	72.62B	0
Income Taxes Paid	1.43B	1.27B	1.27B	2.75B	6.2B	4.55B	2.39B	3.67B	0
Free Cash Flow	-20.93B▲ 0%	12.44B▲ 159.4%	15.43B▲ 24.0%	-24.84B▼ 261.1%	1.63B▲ 106.6%	4.96B▲ 204.1%	-14.9B▼ 400.5%	-15.3B▼ 2.7%	-47.22B▼ 208.6%
FCF Growth %	-876.8%	159.44%	24.01%	-261.06%	106.56%	204.11%	-400.46%	-2.68%	-208.55%

GS Banking Ratios

The Goldman Sachs Group, Inc. (GS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	8.52%	5.07%	12.13%	9.38%	10.16%	21.02%	9.92%	7.28%	11.95%	13.91%
Return on Assets (ROA)	0.86%	0.48%	1.13%	0.88%	0.88%	1.65%	0.78%	0.55%	0.86%	0.99%
Net Interest Margin	0.3%	0.32%	0.4%	0.44%	0.41%	0.44%	0.53%	0.39%	0.48%	0.75%
Efficiency Ratio	53.58%	48.66%	44.49%	46.15%	54.18%	49.14%	45.36%	31.81%	26.62%	30.01%
Equity / Assets	10.1%	8.97%	9.68%	9.09%	8.25%	7.51%	8.13%	7.12%	7.28%	6.91%
Book Value / Share	199.71	201.03	231.13	240.39	266.26	308.95	327.25	338.07	365.7	393.49
NII Growth	-15.57%	13.34%	28.48%	15.8%	8.92%	36.18%	18.67%	-17.28%	26.85%	68.31%
Dividend Payout	23.06%	41.27%	17.31%	24.85%	24.7%	12.6%	32.7%	49.19%	31.5%	30.72%

GS SEC Filings & Documents

The Goldman Sachs Group, Inc. (GS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 13, 2026·SEC

GS Frequently Asked Questions

The Goldman Sachs Group, Inc. (GS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

The Goldman Sachs Group, Inc. (GS) saw revenue decline by 1.4% over the past year.

Yes, The Goldman Sachs Group, Inc. (GS) is profitable, generating $17.18B in net income for fiscal year 2025 (13.7% net margin).

Dividend & Returns

Yes, The Goldman Sachs Group, Inc. (GS) pays a dividend with a yield of 1.52%. This makes it attractive for income-focused investors.

The Goldman Sachs Group, Inc. (GS) has a return on equity (ROE) of 13.9%. This is reasonable for most industries.

Industry Metrics

The Goldman Sachs Group, Inc. (GS) has a net interest margin (NIM) of 0.7%. NIM has been under pressure due to interest rate environment.

The Goldman Sachs Group, Inc. (GS) has an efficiency ratio of 30.0%. This is excellent, indicating strong cost control.

What if you invested $1,000 in GS back in 1999?

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How much would $100/month in GS be worth today?

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The Goldman Sachs Group, Inc.(GS)Earnings, Financials & Key Ratios

GS•NYSE•Banking & Credit

21.4× P/E·Price updated Jun 19, 2026

SectorFinancial Services IndustryCapital Markets Sub-IndustryInvestment Banking and M&A Advisory

Net Interest Income$13.56B+68.3%
Total Revenue$125.1B-1.4%
Net Income$17.18B+20.3%
Return on Equity13.91%+16.4%
Net Interest Margin0.75%+55.9%
Efficiency Ratio30.01%+12.7%
ROA0.99%+14.5%
Equity / Assets6.91%-5.1%
Book Value per Share393.49+7.6%