The Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. It operates through three segments: Global Banking & Markets, Asset & Wealth Management, and Platform Solutions. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; equity and debt underwriting of public offerings and private placements; relationship lending and acquisition financing; secured lending through structured credit and asset-backed lending, such as warehouse, residential and commercial mortgage, corporate, consumer, auto, and student loans; financing through securities purchased under agreements to resell; and commodity financing through structured transactions. This segment also offers client execution activities for cash and derivative instruments; credit and interest rate products; and provision of mortgages, currencies, commodities, and equities related products. Its Asset & Wealth Management segment manages assets across various classes, including equity, fixed income, hedge funds, credit funds, private equity, real estate, currencies, commodities, and asset allocation strategies; and provides customized investment advisory solutions, wealth advisory services, personalized financial planning, and private banking services, as well as invests in corporate equity, credit, real estate, and infrastructure assets. The Platform Solutions segment offers credit cards; and transaction banking and other services, such as deposit-taking, payment solutions, and other cash management services for corporate and institutional clients. The Goldman Sachs Group, Inc. was founded in 1869 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $58.3B | - | $17.2B | $-47.2B | 15.6% | 8.9% | 20.3% |
| 2024 | $53.5B | - | $14.3B | $-15.3B | 13.1% | 15.7% | 67.6% |
| 2023 | $46.3B | - | $8.5B | $-14.9B | 8.1% | -2.3% | -24.4% |
| 2022 | $47.4B | - | $11.3B | $5.0B | 10.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 47,365 | 46,254 | 53,512 | 58,283 |
| Operating Revenue | - | 47,365 | 46,254 | 53,512 | 58,283 |
| Selling General And Administration | - | 15,960 | 16,128 | 17,352 | 19,616 |
| Interest Income | - | 29,024 | 68,515 | 81,397 | 80,373 |
| Interest Expense | - | 21,346 | 62,164 | 73,341 | 66,814 |
| Net Interest Income | - | 7,678 | 6,351 | 8,056 | 13,559 |
| Pretax Income | - | 13,486 | 10,739 | 18,397 | 21,852 |
| Tax Provision | - | 2,225 | 2,223 | 4,121 | 4,676 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -51.81 | -645.22 | -104.16 | -85.38 |
| Net Income Continuous Operations | - | 11,261 | 8,516 | 14,276 | 17,176 |
| Net Income From Continuing And Discontinued Operation | - | 11,261 | 8,516 | 14,276 | 17,176 |
| Net Income From Continuing Operation Net Minority Interest | - | 11,261 | 8,516 | 14,276 | 17,176 |
| Net Income | - | 11,261 | 8,516 | 14,276 | 17,176 |
| Net Income Common Stockholders | - | 10,764 | 7,907 | 13,525 | 16,300 |
| Net Income Including Noncontrolling Interests | - | 11,261 | 8,516 | 14,276 | 17,176 |
| Normalized Income | - | 11,523.19 | 10,987.78 | 14,636.84 | 17,489.62 |
| Diluted NI Availto Com Stockholders | - | 10,764 | 7,907 | 13,525 | 16,300 |
| Basic Average Shares | - | 352.10 | 340.80 | 328.10 | 312.70 |
| Diluted Average Shares | - | 358.10 | 345.80 | 333.60 | 317.60 |
| Reconciled Depreciation | - | 2,455 | 4,856 | 2,392 | 2,182 |
| Total Unusual Items | - | -314 | -3,117 | -465 | -399 |
| Total Unusual Items Excluding Goodwill | - | -314 | -3,117 | -465 | -399 |
| Preferred Stock Dividends | - | 497 | 609 | 751 | 876 |
| Special Income Charges | - | -314 | -3,117 | -465 | -399 |
| Other Special Charges | - | 576 | 529 | 237 | 215 |
| Impairment Of Capital Assets | - | 314 | 2,588 | 228 | 184 |
| Gain On Sale Of Security | - | 0 | 0 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | - | 2,455 | 2,386 | 2,392 | 2,182 |
| Depreciation And Amortization In Income Statement | - | 2,455 | 2,386 | 2,392 | 2,182 |
| General And Administrative Expense | - | 15,148 | 15,499 | 16,706 | 18,906 |
| Salaries And Wages | - | 15,148 | 15,499 | 16,706 | 18,906 |
| Selling And Marketing Expense | - | 812 | 629 | 646 | 710 |
| Occupancy And Equipment | - | 1,026 | 1,053 | 973 | 958 |
| Professional Expense And Contract Services Expense | - | 1,887 | 1,623 | 1,652 | 1,770 |
| Other Non Interest Expense | - | 9,522 | 10,180 | 10,933 | 12,619 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The Goldman Sachs Group, Inc.this co. | GS | $322.3B | 19.77 | 2.58 | 13.0% | - |
| Mastercard Incorporated | MA | $425.7B | 28.44 | 55.02 | 193.5% | 21.22 |
| Bank of America Corporation | BAC | $384.4B | 12.60 | 1.39 | 11.0% | - |
| Morgan Stanley | MS | $344.3B | 20.42 | 3.38 | 16.5% | - |
| Wells Fargo & Company | WFC | $249.8B |
| - |
| - |
| - |
| - |
| - |
| - |
| 11.71 |
| 1.52 |
| 13.0% |
| - |
| Citigroup Inc. | C | $230.5B | 17.70 | 1.09 | 6.1% | - |
| American Express Company | AXP | $213.2B | 19.68 | 6.37 | 32.4% | - |
| BlackRock, Inc. | BLK | $166.5B | 29.99 | 2.98 | 9.9% | 18.17 |
| The Charles Schwab Corporation | SCHW | $153.0B | 17.29 | 3.59 | 20.7% | - |
| Peer Median | - | 18.69 | 3.18 | 14.8% | 19.69 | |