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Saturday 17 October 2026 Export GS’s income statement to Excel — free account

The Goldman Sachs Group, Inc.

GS Financial Capital Markets

The Goldman Sachs Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $58.3 billion, up 8.92% from fiscal 2024. In the quarter to September 2026, revenue grew 23.0%, EPS grew 44.0%, free cash flow grew 5.62% and total debt rose 27.1%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for ten consecutive years.

881.26 10.02 −1.12%
Market cap
$259.5B
P/E
12.4×
Fwd P/E
17.5×
Dividend yield
2.04%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

The Goldman Sachs Group, Inc. (GS) Debt to equity

Alert me on Debt to equity

The Goldman Sachs Group, Inc.'s debt to equity at the end of the quarter to 30 September 2026 was 2.8×, up 0.5× from fiscal 2025 (2.3×). Over the past ten years it has ranged from 2.0× (fiscal 2024) to 2.6× (fiscal 2017); the current reading is higher than 64% of that period. That is above the Capital Markets industry median of 0.1× and above the Financial sector median of 0.2×.

Debt to equity, annual

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Annual newest first

Period Debt to equity Change
FY2025 2.3× 14.86%
FY2024 2.0× (3.87%)
FY2023 2.1× (1.89%)
FY2022 2.1× (8.76%)
FY2021 2.3× 3.87%
FY2020 2.2× (3.00%)
FY2019 2.3× (7.70%)
FY2018 2.5× (6.10%)
FY2017 2.6× 21.64%
FY2016 2.2× 7.58%

Quarterly newest first

Period Debt to equity Change
Sep 2026 2.8× (0.67%)
Jun 2026 2.8× 10.35%
Mar 2026 2.6× 12.45%
Dec 2025 2.3× 2.63%
43 more quarters

Against its own ten years

Low 2.0× High 2.6×
Ten-year median 2.2×
Current reading's percentile 64

Debt to equity against peers

Company Debt to equity
CRCL Circle Internet Group, Inc. compare 0.0×
TW Tradeweb Markets Inc. compare 0.0×
IBKR Interactive Brokers Group, Inc. compare 0.0×
SCHW The Charles Schwab Corporation compare 0.5×
LPLA LPL Financial Holdings Inc. compare 1.3×
HOOD Robinhood Markets, Inc. compare 2.4×
GS The Goldman Sachs Group, Inc. 2.8×
MS Morgan Stanley compare 3.3×
NMR Nomura Holdings Inc ADR compare 8.1×
Capital Markets industry median 0.1×
Financial sector median 0.2×
Market median 0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

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