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

The Goldman Sachs Group, Inc.

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%

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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

Insider Decisions trades per month

Total sells 147.62

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	7	3	—	2	5	—	1	2	—	—

Insider Ownership 2.14%

Capital & Financial Ratios $m

Market Cap 259,520.00

Revenue 69,698.00

Net Income 20,973.00

Free Cash Flow (40,895.00)

Net Debt (184,000.00)

Current Ratio 1.10

Debt/Equity 2.82

P/E ratio 12.39

Fwd P/E 17.50

P/S ratio 3.74

P/B ratio 2.38

Past 5Y EPS Growth 15.71%

This Y EPS Growth 34.58%

Next Y EPS Growth 6.93%

Next Y revenue growth 22.47%

Next 5Y EPS Growth 15.59%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 49.02%

10-year low 10-year high

P/S against its own 10 years 85.85%

10-year low 10-year high

P/B against its own 10 years 92.66%

10-year low 10-year high

Dividends

Payout Ratio 0.26

Annual Dividend Rate 18.00

Annual Dividend Yield 2.04%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	19.06	4.50 4.50 5.00
2025	14.00	3.00 3.00 4.00 4.00
2024	11.50	2.75 2.75 3.00 3.00
2023	10.50	2.50 2.50 2.75 2.75
2022	9.00	2.00 2.00 2.50 2.50
2021	6.50	1.25 1.25 2.00 2.00
2020	5.00	1.25 1.25 1.25 1.25
2019	4.15	0.80 0.85 1.25 1.25
2018	3.15	0.75 0.80 0.80 0.80
2017	2.90	0.65 0.75 0.75 0.75
2016	2.60	0.65 0.65 0.65 0.65

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	664,802	556,799	498,474	536,000
Receivables	132,495	133,717	185,842	1,058,000
Inventory	—	—	—	—
Other	—	—	—	—
	980,655	886,716	922,050	1,870,000

	2023	2024	2025	Q'26
Payables	230,728	223,255	231,865	620,000
ST’ Debt	—	—	—	—
Other	976,139	1,018,378	1,096,524	993,000
	1,282,812	1,311,342	1,398,848	1,705,000

Compound Annual Growth %

	10y	5y	3y
Sales	5.59%	5.52%	7.16%
Cash Flow	0.00%	0.00%	0.00%
Earnings	11.34%	12.83%	14.83%
Book Value	3.72%	5.43%	2.17%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	17,227	20,338	18,679	—	—
’25	15,062	14,583	15,184	13,454	58,283
’24	14,213	12,731	12,699	13,869	53,512
’23	12,224	10,895	11,817	11,318	46,254
’22	12,933	11,864	11,975	10,593	47,365
’21	17,704	15,388	13,608	12,639	59,339
’20	8,743	13,295	10,781	11,741	44,560

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(31,868)	6,105	—	—	—
’25	(37,230)	5,672	2,680	(16,276)	(45,154)
’24	(28,038)	6,120	(38,060)	46,766	(13,212)
’23	9,404	31,901	(25,534)	(28,358)	(12,587)
’22	(19,534)	45,394	16,010	(33,162)	8,708
’21	(5,183)	20,467	(39,260)	30,274	6,298
’20	(53,031)	(11,647)	34,936	11,207	(18,535)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(32,370)	5,749	—	—	—
’25	(37,584)	5,443	2,234	(16,508)	(46,415)
’24	(28,136)	6,026	(38,221)	46,641	(13,690)
’23	9,224	31,480	(25,552)	(26,777)	(11,625)
’22	(20,059)	44,854	15,353	(32,482)	7,666
’21	(6,303)	19,657	(37,767)	29,977	5,564
’20	(55,477)	(12,287)	34,388	11,502	(21,874)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	17.55	20.98	17.58	—	—
’25	14.12	10.91	12.25	14.01	51.32
’24	11.58	8.62	8.40	11.95	40.54
’23	8.79	3.08	5.47	5.48	22.87
’22	10.76	7.73	8.25	3.32	30.06
’21	18.60	15.02	14.93	10.81	59.45
’20	3.11	6.26	9.68	12.08	24.74

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	138.20	209.62	151.70	163.35	130.85	260.16	277.84	289.36	372.07	439.38	Analyst estimates 2026–2028 Powerpack
	High	245.57	262.14	275.31	232.21	263.93	426.16	412.66	387.76	612.73	919.10
People
People	Employees	34,400	36,600	36,600	38,300	40,500	43,900	48,500	45,300	46,500	47,400
	Revenue/emp, $m	0.90	0.89	1.00	0.95	1.10	1.35	0.98	1.02	1.15	1.23
Income, $m
Income, $m	Revenue	30,790	32,730	36,616	36,546	44,560	59,339	47,365	46,254	53,512	58,283
	Gross margin, %	90.83	91.21	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	10,304	11,132	12,481	10,583	12,479	27,044	13,486	10,739	18,397	21,852
	EBT margin, %	33.47	34.01	34.09	28.96	28.00	45.58	28.47	23.22	34.38	37.49
	Net income	7,398	4,286	10,459	8,466	9,459	21,635	11,261	8,516	14,276	17,176
	Depreciation	998	1,152	1,328	1,704	1,902	2,015	2,455	4,856	2,392	2,182
Per share, $
Per share, $	Revenue	72.04	81.50	95.01	98.35	125.03	169.30	134.52	135.72	163.10	186.39
	Earnings	16.53	9.12	25.53	21.18	24.94	60.25	30.42	23.05	41.07	51.95
	Cash flow	15.19	(51.02)	42.98	64.23	(52.01)	17.97	24.73	(36.93)	(40.27)	(144.40)
	Capex	(5.81)	(6.50)	(11.08)	(4.87)	(9.37)	(2.09)	(2.96)	2.82	(1.46)	(4.03)
	Free cash flow	9.38	(57.52)	31.90	59.36	(61.37)	15.87	21.77	(34.11)	(41.73)	(148.43)
	Book value	203.31	204.79	234.00	242.91	269.17	313.63	332.83	343.03	371.83	399.65
	Shares, m	427	402	385	372	356	351	352	341	328	313
Valuation, ×
Valuation, ×	P/E	14.54	29.02	6.55	10.87	8.40	6.36	11.40	16.88	13.95	16.93
	P/S	3.35	3.14	1.76	2.34	2.11	2.26	2.57	2.86	3.51	4.72
	P/B	1.36	1.46	0.82	1.08	1.11	1.35	1.14	1.25	1.73	2.50
	EV/Sales	(4.25)	(3.10)	(3.18)	(1.72)	(2.21)	(4.34)	(6.06)	(6.28)	(2.36)	1.06
	EV/FCF	(32.64)	4.39	(9.48)	(2.85)	4.51	(46.25)	(37.43)	25.00	9.22	(1.33)
Cash, $m
Cash, $m	Operating cash flow	6,494	(20,489)	16,564	23,868	(18,535)	6,298	8,708	(12,587)	(13,212)	(45,154)
	Capex	(2,484)	(2,610)	(4,271)	(1,811)	(3,339)	(734)	(1,042)	962	(478)	(1,261)
	Free cash flow	4,010	(23,099)	12,293	22,057	(21,874)	5,564	7,666	(11,625)	(13,690)	(46,415)
Balance, $m
Balance, $m	Working capital	(45,454)	(44,404)	(42,080)	(156,810)	(210,107)	(135,225)	(106,755)	(302,157)	(424,626)	(476,798)
	Total debt	189,086	217,687	224,149	207,076	213,481	254,092	247,138	241,877	242,634	285,500
	Net debt	(234,150)	(204,034)	(180,941)	(148,232)	(192,581)	(391,418)	(408,845)	(422,925)	(314,165)	(212,974)
	Shareholders’ equity	86,893	82,243	90,185	90,265	95,932	109,926	117,189	116,905	121,996	124,972
Returns, %
Returns, %	ROA	0.82	0.41	1.07	0.82	0.83	1.61	0.74	0.51	0.82	0.94
	ROIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	ROE	9.37	5.05	13.20	9.99	10.89	23.00	10.47	7.45	12.61	14.92

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 14 Oct 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
MS Morgan Stanley	$286.0B	14.0×	17.9×	+6.69% (above 0%: growing)	+13.42% (above 0%: growing)	−132.22% (below 0%: shrinking)	95.59%	58.35%	Compare
GS The Goldman Sachs Group, Inc.	$259.5B	12.4×	17.5×	+23.02% (above 0%: growing)	+43.95% (above 0%: growing)	+5.62% (above 0%: growing)	100.00%	37.49%
SCHW The Charles Schwab Corporation	$162.8B	15.5×	15.1×	+16.89% (above 0%: growing)	+33.47% (above 0%: growing)	+34.96% (above 0%: growing)	100.00%	57.89%	Compare
HOOD Robinhood Markets, Inc.	$93.5B	42.8×	44.5×	+32.25% (above 0%: growing)	+40.91% (above 0%: growing)	−80.06% (below 0%: shrinking)	95.26%	43.88%	Compare
IBKR Interactive Brokers Group, Inc.	$39.0B	32.7×	34.0×	+28.11% (above 0%: growing)	+37.25% (above 0%: growing)	−13.01% (below 0%: shrinking)	92.51%	77.32%	Compare
NMR Nomura Holdings Inc ADR	$27.1B	9.4×	10.7×	+10.87% (above 0%: growing)	+106.67% (above 0%: growing)	+688.81% (above 0%: growing)	94.58%	70.80%	Compare
TW Tradeweb Markets Inc.	$26.2B	27.0×	29.3×	+8.96% (above 0%: growing)	+18.06% (above 0%: growing)	−5.23% (below 0%: shrinking)	100.00%	43.88%	Compare
LPLA LPL Financial Holdings Inc.	$25.8B	25.5×	15.2×	+35.24% (above 0%: growing)	+38.89% (above 0%: growing)	+259.62% (above 0%: growing)	31.38%	11.90%	Compare
CRCL Circle Internet Group, Inc.	$22.2B	43.0×	97.9×	+6.57% (above 0%: growing)	n/m	+113.54% (above 0%: growing)	41.19%	4.90%	Compare
Median of peers	$33.1B	26.3×	23.6×	+13.88%	+37.25%	+14.87%	94.92%	50.89%

All 93 Capital Markets stocks →

The Goldman Sachs Group, Inc. (GS) key facts

Strength: The Goldman Sachs Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $58.3 billion, up 8.92% from fiscal 2024.
The Goldman Sachs Group, Inc. (GS) is a Capital Markets company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, GS traded at $881.26, a market capitalization of $259.5 billion.
The Goldman Sachs Group, Inc. pays an annual dividend of $18.00 per share, a yield of 2.04%, with a payout ratio of 25.7%.
Return on equity was 14.9% and debt-to-equity 2.82.
Its Piotroski F-score is 4 out of 9 for fiscal 2025.