The Goldman Sachs Group, Inc. (GS) quarterly cash flow statement — complete operating, investing & financing history
The Goldman Sachs Group, Inc. (GS) cash flow statement — 27-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 4.18B | 6.11B | -31.87B | -16.28B | 2.68B | 5.67B | -37.23B | 46.77B | -38.06B | 6.12B | -28.04B | -28.36B | -25.53B | 31.9B | 9.4B | -33.16B | 16.01B | 45.39B | -19.53B | 24.9B |
| Operating CF Growth % | 56.01% | 7.63% | 14.4% | -134.8% | 107.04% | -7.32% | -32.78% | 264.91% | -49.06% | -80.82% | -398.15% | 14.49% | -259.49% | -29.72% | 148.14% | -233.2% | 140.78% | 121.79% | -276.89% | 55.47% |
| Net Income | 5.29B | 6.63B | 5.63B | 4.62B | 4.1B | 3.72B | 4.74B | 4.11B | 2.99B | 3.04B | 4.13B | 2.01B | 2.06B | 1.22B | 3.23B | 1.33B | 3.07B | 2.93B | 3.94B | 3.94B |
| Depreciation & Amortization | 537M | 509M | 495M | 527M | 531M | 618M | 506M | 498M | 621M | 646M | 627M | 780M | 1.51B | 1.59B | 580M | 727M | 666M | 570M | 492M | 488M |
| Deferred Taxes | -348M | -441M | -47M | 357M | 49M | -356M | 154M | -147M | -202M | -511M | 60M | -1.36B | -387M | -433M | 76M | 0 | 0 | 0 | 0 | 5M |
| Other Non-Cash Items | 368M | 4.64B | -5.19B | -913M | 677M | 4.31B | -3.33B | 351M | 397M | 282M | 318M | -14.97B | -52.06B | 615M | -98.93B | 87.15B | -19.83B | 12.63B | -34.74B | -25.09B |
| Working Capital Changes | -1.94B | -5.67B | -35.29B | -21.12B | -2.91B | -3.15B | -41.72B | 41.85B | -41.99B | 2.06B | -35.02B | -14.89B | 23.12B | 28.67B | 102.66B | -122.79B | 31.8B | 28.96B | 7.26B | 45.36B |
| Cash from Investing | -38.16B | -28.57B | -56.31B | -5.03B | -5.11B | -11.33B | -22.75B | -7.12B | -29.29B | -5.24B | -7.98B | -3.34B | -8.03B | -3.96B | -1.98B | -6.29B | -14.16B | -38.49B | -17.02B | -13.94B |
| Purchase of Investments | -31.28B | -28.78B | -74.22B | -19.86B | -14.9B | -23.93B | -39.41B | -13.36B | -34.07B | -19.43B | -25.24B | -29.61B | -10.74B | -6.58B | -10.46B | -7.55B | -16.49B | -27.72B | -8.78B | -7.91B |
| Sale/Maturity of Investments | 8.27B | 9.27B | 31.78B | 28.4B | 15.55B | 19.01B | 29.98B | 11.34B | 12.47B | 14.89B | 17.66B | 13.01B | 3.02B | 2.65B | 8.17B | 4.88B | 3.12B | 2.6B | 2.37B | 5.57B |
| Net Investment Activity | -23.01B | -19.5B | -42.44B | 8.54B | 655M | -4.92B | -9.42B | -2.02B | -21.59B | -4.54B | -7.58B | -16.6B | -7.72B | -3.93B | -2.29B | -2.67B | -13.37B | -25.13B | -6.41B | -2.34B |
| Acquisitions | -69M | -1.42B | -359M | 0 | 1.54B | 0 | 0 | 0 | -4.09B | 0 | 3.62B | 2.62B | 7.72B | -8M | 2.29B | -2M | -283M | -1.82B | -13M | 0 |
| Other Investing | -14.56B | -7.14B | -12.94B | -13.04B | -6.75B | -5.93B | -12.82B | -4.51B | -3.13B | -164M | -3.53B | 11.18B | -7.53B | 642M | -1.38B | -2.87B | 485M | -10.49B | -9.64B | -10.48B |
| Cash from Financing | 22.82B | 30.92B | 104.29B | 16.75B | 19.78B | -13.26B | 42.83B | -7.82B | 10.34B | -2.37B | 7.17B | 28.02B | 6.44B | 13.89B | -20.54B | -9.58B | 1.62B | 14.46B | 53.1B | 38.25B |
| Dividends Paid | -1.65B | -1.6B | -1.59B | -1.46B | -1.48B | -1.22B | -1.11B | -1.15B | -1.17B | -1.05B | -1.12B | -1.06B | -1.1B | -1.01B | -1.01B | -1.01B | -997M | -857M | -815M | -822M |
| Share Repurchases | -3B | -4B | -5B | -3B | -2B | -3B | -4.36B | -3.5B | -1B | -4.2B | -1.5B | -1B | -2.5B | -750M | -2.55B | -1.5B | -1B | -500M | -500M | -500M |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.24B | 0 | 0 | 1.5B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -3B | -4B | -5B | -3B | -2B | -3B | -4.36B | -3.5B | -1B | -1.96B | -1.5B | -1B | -1B | -750M | -2.55B | -1.5B | -1B | -500M | -500M | -500M |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K |
| Other Financing | 9.07B | -2.35B | 59.45B | 12.38B | 24.81B | -9.72B | 35.38B | -8.66B | 11.29B | -6.65B | 11.22B | 24.98B | 6.01B | 22.79B | -11.73B | -11.06B | 6.78B | 8.58B | 25.93B | 29.56B |
| Net Change in Cash | -10.5B | 7.74B | 15.27B | -5.32B | 16.61B | -14.44B | -14.68B | 27.4B | -51.64B | -3.06B | -32.19B | 1.7B | -31.05B | 41.6B | -12.5B | -42.43B | -4.36B | 14.44B | 13.13B | 49.21B |
| Exchange Rate Effect | 655M | -713M | -848M | -764M | -738M | 4.48B | 2.47B | -4.43B | 5.37B | -1.56B | -3.35B | 5.38B | -3.93B | -224M | 620M | 6.6B | -7.83B | -6.92B | -3.42B | 0 |
| Cash at Beginning | 187.27B | 179.53B | 164.26B | 169.58B | 152.97B | 167.41B | 182.09B | 154.69B | 206.33B | 209.38B | 241.58B | 239.88B | 270.93B | 229.33B | 241.82B | 284.25B | 288.61B | 274.16B | 261.04B | 211.83B |
| Cash at End | 176.77B | 187.27B | 179.53B | 164.26B | 169.58B | 152.97B | 167.41B | 182.09B | 154.69B | 206.33B | 209.38B | 241.44B | 239.88B | 270.93B | 229.33B | 241.82B | 284.25B | 288.61B | 274.16B | 261.04B |
| Interest Paid | 17.93B | 16.45B | 18.03B | 15.68B | 16.86B | 17B | 15.95B | 18.86B | 18.86B | 17.99B | 16.91B | 16.84B | 15.61B | 14.49B | 13.08B | 9.14B | 6.14B | 2.44B | 1.3B | 1.13B |
| Income Taxes Paid | 0 | 0 | 0 | 1.05B | 581M | 1.72B | 636M | -2.81B | 746M | 1.54B | 525M | 574M | 299M | 1.06B | 459M | 1.51B | 1.45B | 1.17B | 435M | 1.43B |
| Free Cash Flow | 3.66B | 5.6B | -32.43B | -16.81B | 2.12B | 5.2B | -37.73B | 46.18B | -38.53B | 5.58B | -28.54B | -28.9B | -26.04B | 31.23B | 8.81B | -33.92B | 15.02B | 44.34B | -20.49B | 23.78B |
| FCF Growth % | 72.29% | 7.83% | 14.04% | -136.39% | 105.51% | -6.85% | -32.22% | 259.77% | -47.94% | -82.14% | -424% | 14.78% | -273.38% | -29.56% | 142.99% | -242.64% | 137.42% | 131.99% | -215.43% | 62.74% |