GS FY 2008 Earnings Report — The Goldman Sachs Group, Inc. Revenue & Financial Results | Market Cap Arena

The Goldman Sachs Group, Inc.GS

FY 2008 Earnings

Reported January 27, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$53.6B	—	$88.0B	—	-39.1%
Op. Income	$2.3B	—	$17.6B	—	-86.7%
Gross Margin	41.5%	—	52.3%	—	-10.8pp
Net Margin	4.3%	—	13.2%	—	-8.9pp
EPS (Diluted)	$5.09	—	$25.15	—	-79.8%
Free Cash Flow	-$133M	—	-$70.3B	—	99.8%

Revenue Flow

Item	Amount
REVENUE	$53.6B
Cost of Revenue	$31.4B
GROSS PROFIT	$22.2B
R&D Expenses	$0
Selling & Marketing	$485M
General & Administrative	$10.7B
SG&A Expenses	$11.1B
Other Expenses	$8.7B
Operating Expenses	$19.9B
Cost & Expenses	$51.2B
OPERATING INCOME	$2.3B
Interest Income	$35.6B
Interest Expense	$31.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$14M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.0B
D&A	$1.6B
EBIT	$2.3B
EBITDA	$4.0B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$53.6B
Cost of Revenue	$31.4B
GROSS PROFIT	$22.2B
R&D Expenses	$0
Selling & Marketing	$485M
General & Administrative	$10.7B
SG&A Expenses	$11.1B
Other Expenses	$8.7B
Operating Expenses	$19.9B
Cost & Expenses	$51.2B
OPERATING INCOME	$2.3B
Interest Income	$35.6B
Interest Expense	$31.4B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$14M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.0B
D&A	$1.6B
EBIT	$2.3B
EBITDA	$4.0B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$2.3B
Depreciation & Amortization	$1.6B
Stock-Based Compensation	$1.6B
Deferred Income Tax	-$1.8B
Other Non-Cash Items	$0
Change in Working Capital	-$1.9B
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$2.0B
Acquisitions (Net)	-$2.6B
Purchases of Investments	-$3.9B
Sales/Maturities of Investments	$4.0B
Other Investing Activities	$121M
NET CASH FROM INVESTING	-$4.3B
Net Debt Issuance	-$24.0B
Common Stock Repurchased	-$2.0B
Common Dividends Paid	-$850M
Other Financing Activities	$15.3B
NET CASH FROM FINANCING	$7.9B
FREE CASH FLOW	-$133M
Net Change in Cash	$5.5B

Balance Sheet

Item	Amount
Cash & Equivalents	$15.7B
Short-Term Investments	$460.3B
Net Receivables	$103.7B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$579.8B
PP&E (Net)	$10.8B
Goodwill	$3.5B
Intangible Assets	$1.5B
Long-Term Investments	$1.5B
Tax Assets	$0
Other Non-Current Assets	$287.5B
TOTAL NON-CURRENT ASSETS	$304.8B
TOTAL ASSETS	$884.5B
Account Payables	$253.8B
Short-Term Debt	$136.8B
Deferred Revenue	$0
Other Current Liabilities	$203.6B
TOTAL CURRENT LIABILITIES	$598.6B
Long-Term Debt	$185.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$35.9B
TOTAL NON-CURRENT LIABILITIES	$221.6B
TOTAL LIABILITIES	$820.2B
Common Stock	$7M
Additional Paid-In Capital	$31.1B
Retained Earnings	$39.9B
Treasury Stock	-$32.2B
Accum. Other Comp. Income	-$202M
Other Equity	$9.3B
TOTAL STOCKHOLDERS' EQUITY	$64.4B
Minority Interest	$1.6B
TOTAL EQUITY	$66.0B
TOTAL LIABILITIES & EQUITY	$886.2B
Total Debt	$322.4B
Net Debt	$306.7B