Company financials

Goldman Sachs

Financials Investment Banking & Brokerage New York City, New York Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2025
                
$58.3B
                    3y CAGR +7.2%
                    
                    P19
                    
                    +8.9%
                    
                    Net income
                    FY2025
                
$17.2B
                    Net margin +29.5%
                    
                    P71
                    
                    +20.3%
                    
                    Total assets
                    FY2025
                
$1.8T
                    ROA +0.9%
                    
                    P13
                    
                    +8.0%
                    
                    Operating cash flow
                    FY2025
                
$-45.2B
                    FCF margin -81.0%
                    
                    P3
                    
                    -241.8%

19 yrs · FY2007–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

21 accounts · 10 years

Total assets $1.8T

Total liabilities $1.7T

Shareholders equity $125.0B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+3.4%	+5.2%	+10.3%	+12.1%	+16.5%	+6.4%	+3.1%	+3.6%	-9.6%	—
Cash Segregated	+1.2%	+2.8%	+5.0%	+5.4%	+5.0%	-4.6%	-9.7%	-4.6%	+3.4%	—
Trading Assets	+9.3%	+8.6%	+7.1%	+0.3%	+4.9%	+7.4%	+6.3%	-2.7%	+6.8%	—
Brokerage Receivables	+12.2%	+9.3%	+10.5%	+12.8%	+19.5%	+16.5%	+4.3%	+4.9%	+28.8%	—
Other Assets	+22.5%	+23.8%	+25.4%	+29.2%	+30.3%	+34.0%	+40.3%	+52.2%	+25.4%	—
Total Assets	+8.6%	+8.7%	+9.7%	+9.0%	+11.2%	+7.8%	+4.9%	+4.1%	+6.6%	—
Liabilities
Brokerage Payables	+2.3%	+2.1%	+2.9%	+5.6%	+6.0%	+0.3%	-2.5%	-2.2%	-5.5%	—
Trading Liabilities	+10.9%	+9.6%	+11.1%	+10.1%	+12.8%	+8.9%	-0.2%	-1.6%	+1.6%	—
Short Term Borrowings	+10.4%	+13.8%	+14.4%	+5.7%	+11.8%	+11.5%	+11.8%	+3.0%	+18.0%	—
Long Term Debt	+4.7%	+3.2%	+3.6%	+4.6%	+6.1%	+3.1%	+3.1%	+8.9%	+15.1%	—
Other Liabilities	+16.1%	+16.1%	+18.4%	+19.7%	+22.9%	+19.5%	+15.2%	+12.7%	+12.3%	—
Total Liabilities	+9.0%	+9.1%	+10.2%	+9.4%	+11.9%	+8.4%	+5.3%	+4.3%	+7.9%	—
Equity
Total Stockholders Equity	+4.1%	+4.3%	+4.3%	+5.1%	+4.8%	+2.5%	+1.3%	+1.9%	-5.4%	—
Preferred Stock	+3.4%	+2.1%	+0.0%	-0.8%	-0.9%	+0.0%	+0.0%	+0.0%	+5.8%	—
Common Stock	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	—
Additional Paid In Capital	+1.8%	+1.9%	+1.9%	+1.9%	+1.4%	+1.4%	+1.4%	+1.3%	+1.4%	—
Retained Earnings	+7.1%	+7.0%	+7.1%	+7.8%	+8.2%	+6.1%	+6.1%	+6.0%	+2.8%	—
Treasury Stock	+6.5%	+5.9%	+5.6%	+5.5%	+5.8%	+5.8%	+6.9%	+7.0%	+9.8%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Other Equity	+4.5%	+3.5%	+3.9%	+6.5%	+1.5%	-3.0%	-6.5%	-14.7%	-29.0%	—
Total Liabilitiesand Equity	+8.6%	+8.7%	+9.7%	+9.0%	+11.2%	+7.8%	+4.9%	+4.1%	+6.6%	—

Income Statement

Revenue, expense, and profitability

9 accounts · 10 years

Revenue $58.3B

Operating income Not reported

Net income $17.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+7.3%	+7.2%	+6.0%	+7.4%	+14.0%	+9.7%	+5.9%	+9.1%	+6.3%	—
Expenses Operating Expenses	+6.6%	+7.0%	+8.2%	+8.7%	+9.5%	+11.9%	+8.2%	+8.5%	+5.4%	—
Other Income Expense Income Before Tax	+8.7%	+7.5%	+0.6%	+4.6%	+21.3%	+4.9%	+0.9%	+10.1%	+8.0%	—
Income Tax Income Tax Expense	+5.4%	+4.5%	-3.8%	-4.4%	+13.2%	+1.0%	-10.0%	-16.6%	+135.6%	—
net Income Other Items Below Tax	—	—	—	—	—	—	—	—	—	—
net Income net Income	+9.8%	+8.6%	+2.0%	+7.3%	+23.9%	+6.3%	+4.6%	+18.9%	-42.1%	—
Earnings Per Share Basic Eps	+13.6%	+12.0%	+4.9%	+10.7%	+29.5%	+10.8%	+8.6%	+24.3%	-44.8%	—
Earnings Per Share Diluted Eps	+13.6%	+12.1%	+5.0%	+10.8%	+29.6%	+11.0%	+8.9%	+24.5%	-44.7%	—
Earnings Per Share Weighted Average Shares Diluted	-3.4%	-3.3%	-3.2%	-3.2%	-3.9%	-4.6%	-4.8%	-5.3%	-6.0%	—

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 10 years

Operating cash flow $-45.2B

Investing cash flow $-44.2B

Financing cash flow $66.1B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Cash From Operating Activities	—	—	—	+7.7%	+2.5%	—	+62.4%	+72.4%	—	—
Operating Activities net Income	+9.8%	+8.6%	+2.0%	+7.3%	+23.9%	+6.3%	+4.6%	+18.9%	-42.1%	—
Operating Activities Depreciation and Amortization	+9.1%	+11.5%	+25.4%	+16.2%	+15.1%	+17.5%	+19.5%	+15.4%	+15.4%	—
Operating Activities Stock Based Compensation	+5.6%	+2.9%	-0.2%	+11.6%	+2.2%	-2.3%	-1.5%	-6.9%	-16.2%	—
Operating Activities Other Non Cash Items	—	—	—	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Investing Activities Capital Expenditures	—	—	—	—	—	—	—	—	—	—
Investing Activities Other Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	+19.4%	-7.3%	+11.0%	+28.2%	+58.6%	+51.3%	-36.9%	+30.1%	+162.1%	—
Financing Activities Dividends Paid	—	—	—	—	—	—	—	—	—	—
Financing Activities Repurchase of Common Stock	—	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	+16.5%	-0.8%	+8.6%	+21.1%	+46.4%	+37.0%	-20.1%	+14.6%	+106.2%	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	+30.1%	-5.8%	-52.7%	-14.9%	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+29.5%	+26.7%	+18.4%	+23.8%	+36.5%	+21.2%	+23.2%	+28.6%	+13.1%	+24.0%
FCF margin	-81.0%	-28.6%	-32.2%	+10.5%	+2.7%	-55.8%	+42.2%	+23.4%	-72.3%	+8.7%
Growth
Revenue CAGR (3y)	+7.2%	-3.4%	+1.3%	+9.0%	+17.5%	+10.8%	+5.9%	+2.7%	-1.8%	-3.4%
Returns
ROE	+13.7%	+11.7%	+7.3%	+9.6%	+19.7%	+9.9%	+9.4%	+11.6%	+5.2%	+8.5%
ROA	+0.9%	+0.9%	+0.5%	+0.8%	+1.5%	+0.8%	+0.9%	+1.1%	+0.5%	+0.9%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	13.48x	12.74x	13.04x	11.30x	12.32x	11.12x	10.00x	9.33x	10.15x	8.90x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.03x	0.03x	0.03x	0.03x	0.04x	0.04x	0.04x	0.04x	0.04x	0.04x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Goldman Sachs

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