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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) Operating margin

Alert me on Operating margin

The Goldman Sachs Group, Inc.'s operating margin over the twelve months to 30 September 2026 was 40.0%, up 2.5 percentage points from fiscal 2025 (37.5%). Over the past ten years it has ranged from 23.2% (fiscal 2023) to 45.6% (fiscal 2021); the current reading is higher than 91% of that period. That is above the Capital Markets industry median of 0.00% and above the Financial sector median of 0.00%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 37.5% 3.11
FY2024 34.4% 11.16
FY2023 23.2% (5.25)
FY2022 28.5% (17.11)
FY2021 45.6% 17.58
FY2020 28.0% (0.96)
FY2019 29.0% (5.13)
FY2018 34.1% 0.08
FY2017 34.0% 0.54
FY2016 33.5% 7.51

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 37.5% (4.61)
Jun 2026 42.1% 4.45
Mar 2026 37.7% (5.87)
Dec 2025 43.5% 8.01
43 more quarters

Against its own ten years

Low 23.2% High 45.6%
Ten-year median 33.5%
Current reading's percentile 91

Operating margin against peers

Company Operating margin
IBKR Interactive Brokers Group, Inc. compare 78.2%
NMR Nomura Holdings Inc ADR compare 73.1%
MS Morgan Stanley compare 59.1%
SCHW The Charles Schwab Corporation compare 56.0%
HOOD Robinhood Markets, Inc. compare 46.0%
TW Tradeweb Markets Inc. compare 43.7%
GS The Goldman Sachs Group, Inc. 40.0%
LPLA LPL Financial Holdings Inc. compare 9.06%
CRCL Circle Internet Group, Inc. compare 7.42%
Capital Markets industry median 0.00%
Financial sector median 0.00%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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