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

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

Balance Sheet

Assets, liabilities, and equity

21 accounts · 5 years

Total assets $1.8T

Total liabilities $1.7T

Shareholders equity $125.0B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	281.8%	340.3%	522.3%	510.6%	439.9%
Cash Segregated	573.4%	700.2%	915.0%	874.4%	647.9%
Trading Assets	1126.9%	1066.2%	1032.4%	636.0%	633.5%
Brokerage Receivables	318.9%	249.9%	286.5%	286.0%	270.8%
Other Assets	803.3%	775.3%	793.0%	737.1%	475.0%
Total Assets	3104.4%	3132.0%	3549.1%	3044.0%	2467.2%
Liabilities
Brokerage Payables	397.8%	417.2%	498.8%	553.2%	424.6%
Trading Liabilities	542.5%	483.3%	563.9%	468.8%	384.1%
Short Term Borrowings	552.2%	695.6%	733.0%	391.1%	389.9%
Long Term Debt	489.9%	453.4%	522.9%	521.8%	428.2%
Other Liabilities	907.5%	854.4%	977.7%	861.6%	655.1%
Total Liabilities	2889.9%	2904.0%	3296.3%	2796.6%	2281.9%
Equity
Total Stockholders Equity	214.4%	228.0%	252.7%	247.4%	185.3%
Preferred Stock	26.0%	24.8%	24.2%	22.6%	18.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	106.2%	114.7%	130.3%	124.7%	95.0%
Retained Earnings	283.6%	286.7%	310.6%	294.3%	222.1%
Treasury Stock	207.5%	202.8%	217.2%	199.8%	153.6%
Accumulated Other Comprehensive Income	-3.9%	-5.0%	-6.3%	-6.4%	-3.5%
Other Equity	9.9%	9.6%	11.1%	12.0%	7.1%
Total Liabilitiesand Equity	3104.4%	3132.0%	3549.1%	3044.0%	2467.2%

Income Statement

Revenue, expense, and profitability

9 accounts · 5 years

Revenue $58.3B

Operating income Not reported

Net income $17.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Operating Expenses	62.5%	65.6%	76.8%	71.5%	54.4%
Other Income Expense Income Before Tax	37.5%	34.4%	23.2%	28.5%	45.6%
Income Tax Income Tax Expense	8.0%	7.7%	4.8%	4.7%	9.1%
net Income Other Items Below Tax	-1.5%	-1.4%	-1.3%	-1.0%	-0.8%
net Income net Income	29.5%	26.7%	18.4%	23.8%	36.5%
Earnings Per Share Basic Eps	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%
Earnings Per Share Weighted Average Shares Diluted	0.5%	0.6%	0.7%	0.8%	0.6%

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 5 years

Operating cash flow $-45.2B

Investing cash flow $-44.2B

Financing cash flow $66.1B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Cash From Operating Activities	-77.5%	-24.7%	-27.2%	18.4%	10.6%
Operating Activities net Income	29.5%	26.7%	18.4%	23.8%	36.5%
Operating Activities Depreciation and Amortization	3.7%	4.5%	10.5%	5.2%	3.4%
Operating Activities Stock Based Compensation	5.9%	5.0%	4.5%	8.6%	4.0%
Operating Activities Other Non Cash Items	-116.6%	-60.8%	-60.6%	-19.2%	-33.2%
Investing Activities net Cash From Investing Activities	-75.9%	-92.7%	-37.4%	-160.4%	-51.3%
Investing Activities Capital Expenditures	-3.5%	-3.9%	-5.0%	-7.9%	-7.9%
Investing Activities Other Investing Activities	-72.3%	-88.8%	-32.4%	-152.5%	-43.5%
Financing Activities net Cash From Financing Activities	113.4%	13.7%	60.1%	125.8%	227.1%
Financing Activities Dividends Paid	-9.1%	-8.4%	-9.1%	-7.8%	-4.6%
Financing Activities Repurchase of Common Stock	-21.2%	-14.9%	-12.5%	-7.4%	-8.8%
Financing Activities Other Financing Activities	143.7%	37.0%	81.7%	141.0%	240.4%
Cash Reconciliation Effect of Exchange Rate On Cash	9.3%	-7.4%	4.0%	-24.4%	-9.1%
Cash Reconciliation net Change In Cash	-30.6%	-111.2%	-0.5%	-40.6%	177.3%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	—	—	—	—	—
Net margin	+29.5%	+26.7%	+18.4%	+23.8%	+36.5%
FCF margin	-81.0%	-28.6%	-32.2%	+10.5%	+2.7%
Growth
Revenue CAGR (3y)	+7.2%	-3.4%	+1.3%	+9.0%	+17.5%
Returns
ROE	+13.7%	+11.7%	+7.3%	+9.6%	+19.7%
ROA	+0.9%	+0.9%	+0.5%	+0.8%	+1.5%
ROIC	—	—	—	—	—
Liquidity
Current ratio	—	—	—	—	—
Quick ratio	—	—	—	—	—
Leverage
D/E	13.48x	12.74x	13.04x	11.30x	12.32x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.03x	0.03x	0.03x	0.03x	0.04x
Cash conversion cycle	—	—	—	—	—

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Goldman Sachs

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