GS Q2 2020 Earnings Report — The Goldman Sachs Group, Inc. Revenue & Financial Results | Market Cap Arena

The Goldman Sachs Group, Inc.GS

Q2 2020 Earnings

Reported August 6, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2020	Q1 2020	Q2 2019	QoQ Change	YoY Change
Revenue	$15.4B	$12.2B	$14.2B	26.3%	8.7%
Op. Income	$1.3B	$1.3B	$3.1B	-4.2%	-58.7%
Gross Margin	76.1%	64.1%	65.3%	12.0pp	10.7pp
Net Margin	2.4%	10.0%	17.1%	-7.5pp	-14.7pp
EPS (Diluted)	$1.04	$3.11	$5.81	-66.6%	-82.1%
Free Cash Flow	-$12.7B	-$55.9B	$7.4B	77.2%	-271.8%

Revenue Flow

Item	Amount
REVENUE	$15.4B
Cost of Revenue	$3.7B
GROSS PROFIT	$11.7B
R&D Expenses	$0
Selling & Marketing	$89M
General & Administrative	$4.5B
SG&A Expenses	$4.6B
Other Expenses	$5.8B
Operating Expenses	$10.4B
Cost & Expenses	$14.1B
OPERATING INCOME	$1.3B
Interest Income	$3.0B
Interest Expense	$2.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$918M
Net Income from Continuing Ops	$373M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$373M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$197M
D&A	$499M
EBIT	$1.3B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$15.4B
Cost of Revenue	$3.7B
GROSS PROFIT	$11.7B
R&D Expenses	$0
Selling & Marketing	$89M
General & Administrative	$4.5B
SG&A Expenses	$4.6B
Other Expenses	$5.8B
Operating Expenses	$10.4B
Cost & Expenses	$14.1B
OPERATING INCOME	$1.3B
Interest Income	$3.0B
Interest Expense	$2.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$918M
Net Income from Continuing Ops	$373M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$373M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$197M
D&A	$499M
EBIT	$1.3B
EBITDA	$1.8B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$373M
Depreciation & Amortization	$499M
Stock-Based Compensation	$185M
Deferred Income Tax	$0
Other Non-Cash Items	-$16.7B
Change in Working Capital	$4.0B
OPERATING CASH FLOW	-$11.6B
Capital Expenditure	-$1.1B
Acquisitions (Net)	$0
Purchases of Investments	-$18.1B
Sales/Maturities of Investments	$11.8B
Other Investing Activities	$11.3B
NET CASH FROM INVESTING	$3.9B
Net Debt Issuance	-$16.2B
Common Stock Repurchased	-$16M
Common Dividends Paid	-$626M
Other Financing Activities	$51.7B
NET CASH FROM FINANCING	$34.9B
FREE CASH FLOW	-$12.7B
Net Change in Cash	$27.1B

Balance Sheet

Item	Amount
Cash & Equivalents	$132.6B
Short-Term Investments	$465.2B
Net Receivables	$113.4B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$711.2B
PP&E (Net)	$26.0B
Goodwill	$4.2B
Intangible Assets	$596M
Long-Term Investments	$260.6B
Tax Assets	$0
Other Non-Current Assets	$138.9B
TOTAL NON-CURRENT ASSETS	$430.3B
TOTAL ASSETS	$1.1T
Account Payables	$199.2B
Short-Term Debt	$144.8B
Deferred Revenue	$0
Other Current Liabilities	$377.9B
TOTAL CURRENT LIABILITIES	$732.7B
Long-Term Debt	$236.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$80.2B
TOTAL NON-CURRENT LIABILITIES	$318.8B
TOTAL LIABILITIES	$1.1T
Common Stock	$9M
Additional Paid-In Capital	$55.6B
Retained Earnings	$106.2B
Treasury Stock	-$85.9B
Accum. Other Comp. Income	-$341M
Other Equity	$3.2B
TOTAL STOCKHOLDERS' EQUITY	$90.0B
Minority Interest	$0
TOTAL EQUITY	$90.0B
TOTAL LIABILITIES & EQUITY	$1.1T
Total Debt	$383.4B
Net Debt	$250.8B