Company financials

Goldman Sachs

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

                    Revenue
                    FY2025
                
$80.4B
                    3y CAGR +40.4%
                    
                    P89
                    
                    -1.3%
                    
                    Net income
                    FY2025
                
$17.2B
                    Net margin +21.4%
                    
                    P55
                    
                    +20.3%
                    
                    Total assets
                    FY2025
                
$1.8T
                    ROA +0.9%
                    
                    P15
                    
                    +8.0%
                    
                    Operating cash flow
                    FY2025
                
$-45.2B
                    FCF margin -58.7%
                    
                    P4
                    
                    -241.8%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

26 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	204.4%	223.7%	352.6%	833.2%	2153.8%	1138.4%	614.3%	663.4%	839.3%	1255.9%
Short Term Investments	17.3%	17.0%	20.1%	51.3%	156.2%	144.5%	102.0%	0.0%	0.0%	0.0%
Other Current Assets	45.1%	42.0%	53.4%	135.1%	285.5%	273.5%	160.5%	155.7%	216.2%	262.9%
Property,Plant and Equipment	9.3%	9.9%	16.4%	42.0%	89.2%	73.9%	45.8%	46.1%	63.1%	79.2%
Operating Lease Assets	2.6%	2.4%	3.2%	7.5%	18.9%	16.7%	10.9%	—	—	—
Goodwill	7.4%	7.2%	8.6%	22.0%	35.4%	31.6%	19.3%	19.1%	27.9%	37.8%
Intangible Assets	1.0%	1.0%	1.7%	6.9%	3.4%	4.6%	2.9%	1.6%	2.8%	4.4%
Long Term Investments	1.1%	1.3%	1.1%	2.6%	4.9%	2.7%	1.3%	1.8%	2.1%	2.3%
Other Noncurrent Assets	45.1%	42.0%	53.4%	135.1%	285.5%	273.5%	160.5%	155.7%	216.2%	262.9%
Total Assets	2251.2%	2059.0%	2396.0%	4967.6%	12079.1%	8496.1%	4567.9%	4735.0%	6991.4%	8875.9%
Liabilities
Operating Lease Liabilities	2.7%	2.5%	3.3%	7.4%	18.9%	16.7%	11.0%	—	—	—
Other Current Liabilities	34.2%	29.8%	34.7%	73.9%	202.2%	164.0%	99.6%	89.5%	129.0%	148.2%
Total Current Liabilities	2095.7%	1909.1%	2225.3%	4563.8%	11172.1%	7795.3%	4152.6%	4276.7%	6364.2%	7979.3%
Long Term Debt	442.9%	383.7%	463.9%	1061.5%	2483.9%	1945.7%	1174.7%	1199.4%	1735.5%	2037.9%
Operating Lease Liabilities Noncurrent	2.7%	2.5%	3.3%	7.4%	18.9%	16.7%	11.0%	—	—	—
Other Noncurrent Liabilities	34.2%	29.8%	34.7%	73.9%	202.2%	164.0%	99.6%	89.5%	129.0%	148.2%
Total Liabilities	2095.7%	1909.1%	2225.3%	4563.8%	11172.1%	7795.3%	4152.6%	4276.7%	6364.2%	7979.3%
Equity
Preferred Stock	18.9%	16.3%	16.4%	36.9%	88.3%	81.8%	51.5%	56.9%	90.4%	115.6%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.0%	0.0%	0.1%	0.1%
Additional Paid In Capital	77.0%	75.4%	87.9%	203.5%	465.3%	406.7%	252.5%	274.4%	406.9%	543.2%
Retained Earnings	205.7%	188.5%	209.7%	480.2%	1087.5%	825.1%	489.8%	508.7%	697.9%	918.8%
Treasury Stock	150.4%	133.3%	146.6%	326.0%	751.9%	627.8%	386.4%	399.8%	574.9%	708.8%
Accumulated Other Comprehensive Income	-2.8%	-3.3%	-4.3%	-10.4%	-17.1%	-10.5%	-6.8%	3.5%	-14.3%	-12.5%
Noncontrolling Interest	0.6%	0.5%	0.5%	—	—	—	—	—	—	—
Total Stockholders Equity	155.5%	149.9%	170.6%	403.8%	907.0%	700.8%	415.2%	458.3%	627.2%	896.6%
Total Liabilitiesand Equity	2251.2%	2059.0%	2396.0%	4967.6%	12079.1%	8496.1%	4567.9%	4735.0%	6991.4%	8875.9%

Income Statement

Revenue, expense, and profitability

14 accounts · 10 years

Revenue $80.4B

Operating income $17.2B

Net income $17.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Depreciation and Amortization	2.7%	2.9%	7.1%	8.5%	16.6%	13.9%	7.8%	6.7%	8.8%	10.3%
Expenses Share Based Compensation	4.3%	3.3%	3.0%	14.1%	19.4%	14.0%	9.3%	9.3%	13.5%	21.8%
Other Income Expense Operating Income	21.4%	17.5%	12.4%	38.8%	178.5%	69.1%	38.9%	53.1%	32.7%	76.3%
Other Income Expense Interest Income	9.5%	7.4%	5.6%	7.6%	13.1%	100.0%	100.0%	100.0%	100.0%	100.0%
Other Income Expense Interest Expense	83.1%	90.1%	90.7%	73.5%	46.6%	65.3%	79.9%	80.9%	77.6%	73.3%
Other Income Expense Income Before Tax	27.2%	22.6%	15.7%	46.5%	223.1%	91.2%	48.7%	63.4%	84.9%	106.3%
Income Tax Income Tax Expense	5.8%	5.1%	3.2%	7.7%	44.6%	22.1%	9.7%	10.3%	52.2%	30.0%
net Income net Income	21.4%	17.5%	12.4%	38.8%	178.5%	69.1%	38.9%	53.1%	32.7%	76.3%
net Income Comprehensive Income	21.9%	17.8%	12.6%	35.6%	173.3%	69.5%	28.9%	66.2%	27.6%	68.1%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.4%	0.4%	0.5%	1.2%	2.9%	2.6%	1.7%	2.0%	3.1%	4.4%
Earnings Per Share Weighted Average Shares Diluted	0.4%	0.4%	0.5%	1.2%	2.9%	2.6%	1.7%	2.0%	3.1%	4.5%

Cash Flow Statement

Operating, investing, and financing flows

23 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 Income	21.4%	17.5%	12.4%	38.8%	178.5%	69.1%	38.9%	53.1%	32.7%	76.3%
Operating Activities Depreciation and Amortization	2.7%	2.9%	7.1%	8.5%	16.6%	13.9%	7.8%	6.7%	8.8%	10.3%
Operating Activities Stock Based Compensation	4.3%	3.3%	3.0%	14.1%	19.4%	14.0%	9.3%	9.3%	13.5%	21.8%
Operating Activities Deferred Income Taxes	0.3%	-1.0%	-2.0%	-8.3%	0.0%	-6.1%	-1.5%	-13.4%	41.6%	5.7%
Operating Activities Changes In Operating Assets and Liabilities	-2.3%	8.2%	4.8%	-0.3%	68.2%	25.5%	27.4%	13.2%	-4.0%	59.1%
Operating Activities net Cash From Operating Activities	-56.2%	-16.2%	-18.4%	30.0%	52.0%	-135.4%	109.8%	84.2%	-156.2%	67.0%
Investing Activities Capital Expenditures	2.6%	2.6%	3.4%	12.9%	38.5%	46.1%	38.8%	40.6%	24.3%	29.6%
Investing Activities Business Acquisitions	-1.9%	-4.4%	-0.7%	7.3%	0.0%	1.7%	3.7%	0.8%	18.2%	-154.0%
Investing Activities Purchases of Investments	96.3%	74.8%	13.4%	12.9%	241.0%	355.5%	137.0%	47.9%	132.5%	—
Investing Activities Proceeds From Sale of Investments	0.1%	15.7%	11.9%	0.1%	0.4%	—	—	—	—	—
Investing Activities Other Investing Activities	-2.9%	-2.9%	-4.8%	-6.2%	-9.2%	-7.6%	-18.2%	-11.7%	-12.8%	-21.8%
Investing Activities net Cash From Investing Activities	-55.0%	-61.0%	-25.3%	-261.7%	-251.4%	-251.0%	-111.5%	-95.6%	-201.2%	99.8%
Financing Activities Proceeds From Debt	109.7%	82.6%	68.8%	291.2%	765.0%	—	—	—	—	—
Financing Activities Repayment of Debt	89.0%	91.6%	78.9%	147.5%	434.1%	—	—	—	—	—
Financing Activities Repurchase of Common Stock	15.4%	9.8%	8.5%	12.1%	42.9%	14.1%	24.5%	16.7%	51.6%	62.7%
Financing Activities Dividends Paid	6.6%	5.5%	6.1%	12.7%	22.5%	17.1%	9.7%	9.2%	13.5%	17.6%
Financing Activities Tax Withholding On Stock Based Compensation	2.7%	1.6%	2.0%	5.5%	8.1%	6.1%	3.4%	5.7%	17.0%	11.6%
Financing Activities Other Financing Activities	-0.1%	0.3%	0.5%	1.2%	3.0%	2.9%	1.8%	-11.7%	-12.8%	-21.8%
Financing Activities net Cash From Financing Activities	82.2%	9.0%	40.6%	205.4%	1111.7%	514.1%	15.5%	115.6%	268.5%	124.9%
Cash Reconciliation Effect of Exchange Rate On Cash	204.4%	223.7%	352.6%	833.2%	2153.8%	1138.4%	—	—	—	—
Cash Reconciliation net Change In Cash	-22.2%	-73.1%	-0.4%	-66.2%	867.9%	162.9%	—	104.2%	-88.9%	291.7%
Cash Reconciliation Cash At Beginning of Period	204.4%	223.7%	352.6%	833.2%	2153.8%	1138.4%	614.3%	663.4%	839.3%	1255.9%
Cash Reconciliation Cash At End of Period	204.4%	223.7%	352.6%	833.2%	2153.8%	1138.4%	614.3%	663.4%	839.3%	1255.9%

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	+21.4%	+17.5%	+12.4%	+38.8%	+178.5%	+69.1%	+38.9%	+53.1%	+32.7%	+76.3%
Net margin	+21.4%	+17.5%	+12.4%	+38.8%	+178.5%	+69.1%	+38.9%	+53.1%	+32.7%	+76.3%
FCF margin	-58.7%	-18.8%	-21.8%	+17.1%	+13.5%	-181.5%	+71.0%	+43.6%	-180.5%	+37.4%
Growth
Revenue CAGR (3y)	+40.4%	+88.7%	+71.1%	+10.1%	-14.9%	+1.4%	+30.9%	+32.5%	+10.9%	-1.2%
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	+4.3%	+3.4%	+2.5%	+5.1%	+11.0%	+3.4%	+3.2%	+2.0%	+0.4%	+1.5%
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	0.26x	0.19x	0.14x	0.53x	3.83x	1.06x	0.49x	0.66x	0.42x	1.04x
Efficiency
Asset turnover	0.04x	0.05x	0.04x	0.02x	0.01x	0.01x	0.02x	0.02x	0.01x	0.01x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Goldman Sachs

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