Pricing Log in Create free account
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

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% (at or above 15%: strong)
This Y EPS Growth 34.58% (at or above 15%: strong)
Next Y EPS Growth 6.93%
Next Y revenue growth 22.47% (at or above 10%: strong)
Next 5Y EPS Growth 15.59% (at or above 15%: strong)

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.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

The Goldman Sachs Group, Inc. vs peers in Capital Markets (Q) = latest quarter vs a year earlier

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 →

GS metrics, ten years each

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.

Source: company filings (standardised) and stockrow calculations · fundamentals updated Oct 14, 2026.

The Goldman Sachs Group, Inc. (GS) Latest News

11 Aug

Impact 5 ·
stockrow.com/GS · Data as of Oct 14, 2026 · For information only; not investment advice. · © 2026 stockrow.com