GS

MKT CAP:$274B

The Goldman Sachs Group, Inc.

Market Cap

$274B

Financial Services·Financial - Capital Markets·🇺🇸 United States·NYSE

Financials·Financial·🇺🇸·NYSE

Stock Price

$925.77+$11.43 (+1.25%)

Apr 24, 2026

Company Details

The Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through four segments: Investment Banking, Global M...

CEO

David Solomon

IPO Date

May 4, 1999

Website

www.goldmansachs.com

Key Metrics TTM

Revenue

$110.8B

-12.4% YoY

Net Income

$18.1B

EPS (Diluted)

$54.75

Free Cash Flow

-$47.2B

Revenue / Share

$359.66

Gross Margin

55.5%

Operating Margin

20.5%

Net Margin

16.3%

FCF Margin

-42.6%

P/S

2.5x

P/E

15.2x

Earnings Reports

Q1 2026

Apr 13, 2026

NEW

$17.2B-45.4%EPS $17.55

FY 2025

Feb 25, 2026

$125.1B-1.4%EPS $51.32

Q4 2025

Feb 25, 2026

$30.1B-6.6%EPS $14.00

Q3 2025

Oct 31, 2025

$32.2B+2.0%EPS $12.25

Q2 2025

Aug 1, 2025

$31.3B+0.3%EPS $10.95

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$15.0B	$11.2B	$3.5B
Q3 22	$18.5B	$11.5B	$3.8B
Q4 22	$20.9B	$9.6B	$1.5B
Q1 23	$25.4B	$12.4B	$4.0B
Q2 23	$26.0B	$10.3B	$1.7B
Q3 23	$28.5B	$11.8B	$2.8B
Q4 23	$28.5B	$10.7B	$2.3B
Q1 24	$32.4B	$13.9B	$5.2B
Q2 24	$31.2B	$12.4B	$3.9B
Q3 24	$31.5B	$12.3B	$4.0B
Q4 24	$32.2B	$13.5B	$5.3B
Q1 25	$31.6B	$14.8B	$5.6B
Q2 25	$31.3B	$14.2B	$5.0B
Q3 25	$32.2B	$14.8B	$5.4B
Q4 25	$30.1B	$15.6B	$5.9B
Q1 26	$17.2B	$16.9B	$6.5B

Valuation

Quarter	P/S	P/E
Q2 22	1.8x	6.6x
Q3 22	1.7x	7.5x
Q4 22	1.8x	10.9x
Q1 23	1.4x	10.6x
Q2 23	1.2x	12.5x
Q3 23	1.1x	13.6x
Q4 23	1.2x	15.3x
Q1 24	1.2x	14.5x
Q2 24	1.2x	13.4x
Q3 24	1.3x	13.1x
Q4 24	1.5x	13.0x
Q1 25	1.4x	11.5x
Q2 25	1.7x	14.1x
Q3 25	2.0x	14.9x
Q4 25	2.2x	16.1x
Q1 26	2.3x	14.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$19.5B	-$20.5B
Q2 22	$45.4B	$44.3B
Q3 22	$16.0B	$15.0B
Q4 22	-$33.2B	-$33.9B
Q1 23	$9.4B	$8.8B
Q2 23	$31.9B	$31.2B
Q3 23	-$25.5B	-$26.0B
Q4 23	-$28.4B	-$28.9B
Q1 24	-$28.0B	-$28.5B
Q2 24	$6.1B	$5.6B
Q3 24	-$38.1B	-$38.5B
Q4 24	$46.8B	$46.2B
Q1 25	-$37.2B	-$37.7B
Q2 25	$5.7B	$5.2B
Q3 25	$2.7B	$2.1B
Q4 25	-$16.3B	-$16.8B

Capital Expenditures

Quarter	CapEx
Q1 22	$953M
Q2 22	$1.1B
Q3 22	$990M
Q4 22	$754M
Q1 23	$597M
Q2 23	$666M
Q3 23	$507M
Q4 23	$546M
Q1 24	$497M
Q2 24	$542M
Q3 24	$466M
Q4 24	$586M
Q1 25	$499M
Q2 25	$476M
Q3 25	$558M
Q4 25	$531M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-10.3%	+16.0%
Q3 22	+21.9%	+77.0%
Q4 22	+51.1%	+119.7%
Q1 23	+77.3%	+121.4%
Q2 23	+73.9%	+112.6%
Q3 23	+54.4%	+75.0%
Q4 23	+36.0%	+35.1%
Q1 24	+27.6%	+27.0%
Q2 24	+19.7%	+12.2%
Q3 24	+10.5%	+6.9%
Q4 24	+13.3%	+3.0%
Q1 25	-2.6%	-4.6%
Q2 25	+0.3%	-3.5%
Q3 25	+2.0%	-2.8%
Q4 25	-6.6%	-10.1%
Q1 26	-45.4%	-58.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$3.1B	21.8%
Q2 22	$383M	2.6%
Q3 22	$300M	1.6%
Q4 22	$272M	1.3%
Q1 23	$1.8B	7.0%
Q2 23	$239M	0.9%
Q3 23	$228M	0.8%
Q4 23	$77M	0.3%
Q1 24	$1.8B	5.7%
Q2 24	$595M	1.9%
Q3 24	$120M	0.4%
Q4 24	$104M	0.3%
Q1 25	$2.4B	7.7%
Q2 25	$533M	1.7%
Q3 25	$237M	0.7%
Q4 25	$258M	0.9%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$3.7B	$235M
Q3 22	$3.6B	$199M
Q4 22	$3.8B	$216M
Q1 23	$4.1B	$172M
Q2 23	$3.6B	$146M
Q3 23	$4.2B	$136M
Q4 23	$3.6B	$175M
Q1 24	$4.6B	$153M
Q2 24	$4.2B	$153M
Q3 24	$4.1B	$159M
Q4 24	$3.8B	$181M
Q1 25	$4.9B	$156M
Q2 25	$4.7B	$167M
Q3 25	$4.7B	$171M
Q4 25	$4.7B	$216M
Q1 26	$7.4B	$2.5B

Revenue Segments

Quarter	Global Markets	Investment Management
Q4 25	$20.6B	$9.2B

Revenue by Geography

Quarter	Americas	Asia	Emea
Q4 25	$17.7B	$4.1B	$6.9B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$288.6B	$539.6B	$828.2B
Q3 22	$284.3B	$494.6B	$778.8B
Q4 22	$241.8B	$480.1B	$722.0B
Q1 23	$229.3B	$580.4B	$809.7B
Q2 23	$270.9B	$579.9B	$850.8B
Q3 23	$239.9B	$630.1B	$870.0B
Q4 23	$241.6B	$683.4B	$924.9B
Q1 24	$209.4B	$717.1B	$926.5B
Q2 24	$206.3B	$699.9B	$906.3B
Q3 24	$154.7B	$788.1B	$942.8B
Q4 24	$182.1B	$739.7B	$921.8B
Q1 25	$167.4B	$757.5B	$924.9B
Q2 25	$153.0B	$13.8B	$166.7B
Q3 25	$169.0B	$347.0B	$516.0B
Q4 25	$164.3B	$460.3B	$624.5B
Q1 26	$179.0B	$760.0B	$939.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	360M	+1.3%	+1.3%
Q3 22	359M	-0.4%	+1.5%
Q4 22	357M	-0.7%	+1.2%
Q1 23	351M	-1.5%	-1.3%
Q2 23	347M	-1.2%	-3.7%
Q3 23	344M	-1.0%	-4.3%
Q4 23	346M	+0.6%	-3.1%
Q1 24	340M	-1.8%	-3.4%
Q2 24	336M	-1.2%	-3.4%
Q3 24	331M	-1.4%	-3.8%
Q4 24	328M	-0.7%	-5.0%
Q1 25	325M	-1.2%	-4.4%
Q2 25	318M	-1.9%	-5.1%
Q3 25	315M	-1.0%	-4.8%
Q4 25	318M	+0.8%	-3.3%
Q1 26	308M	-3.0%	-5.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$341.3K	44K
Q3 22	$421.0K	44K
Q4 22	$431.5K	49K
Q1 23	$523.3K	49K
Q2 23	$537.1K	49K
Q3 23	$588.2K	49K
Q4 23	$628.3K	45K
Q1 24	$715.1K	45K
Q2 24	$688.3K	45K
Q3 24	$695.9K	45K
Q4 24	$693.3K	47K
Q1 25	$678.5K	47K
Q2 25	$672.4K	47K
Q3 25	$691.5K	47K
Q4 25	$635.5K	47K
Q1 26	$363.4K	47K

Revenue / Employee