RemovedRisk Factors
GSGoldman Sachs
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. 10-K, Item 1
- Headquarters
- New York, NY
- CEO
- David M. Solomon
- Next results
- around Jan 7, 2027
10-K 0000886982-26-000091 (2026-02-25) vs 10-K 0000886982-25-000005 (2025-02-27)
| Section | Compared text | Words now | Changed |
|---|---|---|---|
| Risk Factors | Item 1A | 20,853 | 4.9% |
| MD&A | Item 7 | 40,739 | 15.2% |
| Legal Proceedings | Item 3, via Note 18 – Commitments, Contingencies and Guarantees | 2,645 | 12.2% |
| Accounting Policies | Item 8, Note 3 – Significant Accounting Policies | 3,925 | 10.0% |
The redline: what was cut and what was added
In each section, the paragraph that changed most, marked against last year's 10-K:
cut words struck through, new words highlighted and underlined.
MD&A 257 words changed in this paragraph; it is 69% similar to last year's version.
These statements may relate to, among other things, (i) our future plans and results, including our target return on average common shareholders’ equity (ROE), return on average tangible common shareholders’ equity (ROTE), efficiency ratio, Common Equity Tier 1 (CET1) capital ratio and firmwide ratio, total credit alternative assets, total alternative assets under supervision (AUS), long-term wealth management inflows and percentage growth rate for Management and other fees from alternatives, and how they can be achieved, (ii) trends in or growth opportunities for our businesses, including the timing, costs, profitability, benefits and other aspects of business and strategic initiatives initiatives, such as OneGS 3.0, and their impact on our efficiency ratio, as well as (iii) the opportunities and challenges presented by artificial intelligence (AI), (iii) our level of future compensation expense, (iv) our Investment banking fees backlog and future advisory and capital markets results, (v) our expected interest income and interest expense, (vi) our expense savings and strategic locations initiatives, (vii) expenses we may incur, including the level of future litigation compensation expense, (viii) (vi) the projected growth of our deposits and other funding, asset liability management and funding strategies and related interest expense savings, (ix) (vii) our business and expense savings initiatives, (x) including OneGS 3.0, (viii) our planned 2025 benchmark debt issuances, (xi) the amount, composition and location of global core liquid assets (GCLA) we expect to hold, (xii) (ix) our credit exposures, (xiii) (x) our expected provision for credit losses, (xiv) losses and the adequacy of our allowance for credit losses, (xv) the narrowing of our consumer business, (xvi) (xi) the objectives and effectiveness of our business continuity planning (BCP), information security program, risk management and liquidity policies, (xvii) (xii) our resolution plan and its implications for stakeholders, (xviii) the design and effectiveness of our resolution capital and liquidity models and triggers and alerts framework, (xix) the results of stress tests, (xiii) the effect of changes to regulations, and our future status, activities or reporting under banking and financial regulation, (xx) (xiv) our expected tax rate, (xxi) (xv) the future state of our liquidity and regulatory capital ratios, and our prospective capital distributions (including dividends and repurchases), (xxii) (xvi) our expected stress capital buffer (SCB) and global systemically important bank (G-SIB) surcharge, (xxiii) (xvii) legal proceedings, governmental investigations or other contingencies, (xxiv) (xviii) the asset recovery guarantee and our remediation activities applications for exemptions and authorizations from regulatory authorities related to our 1Malaysia Development Berhad (1MDB) settlements, (xxv) (xix) the effectiveness of our management of our human capital, (xxvi) capital and changes in headcount, (xx) our sustainability and carbon neutrality targets and goals, (xxvii) (xxi) future inflation, (xxviii) the impact of Russia’s invasion of Ukraine and related sanctions and other developments on our business, results and financial position, (xxix) (xxii) our ability to sell, and the terms of any proposed or pending sales of, Asset & Wealth Management historical principal investments, and our ability to transition the General Motors (GM) credit card program, (xxx) the impact of the conflicts in the Middle East, (xxxi) our ability Apple Card program to manage our commercial real estate exposures, (xxxii) the profitability of Platform Solutions and (xxxiii) another issuer, (xxiii) the effectiveness of our cybersecurity risk management process. process and (xxiv) our completed and announced partnership and acquisitions.
Source: Item 7, 10-K 0000886982-26-000091 vs Item 7, 10-K 0000886982-25-000005
Legal Proceedings 157 words changed in this paragraph; it is 63% similar to last year's version.
Other Financial Guarantees. In the ordinary course of business, the firm provides other financial guarantees of the obligations of third parties (e.g., standby letters of credit and other guarantees to enable clients to complete transactions and fund-related guarantees). These guarantees represent obligations to make payments to beneficiaries if the guaranteed party fails to fulfill its obligation under a contractual arrangement with that beneficiary. Other financial guarantees also include a guarantee that the firm has provided to the Government of Malaysia that it will would receive, by August 2025, at least $1.4 billion in assets and proceeds from assets seized by governmental authorities around the world related to 1Malaysia Development Berhad, a sovereign wealth fund in Malaysia (1MDB). In connection with this guarantee, the The firm agreed to make a one-time interim payment of $250 million towards the $1.4 billion if initiated arbitration against the Government of Malaysia did not receive at least $500 million in October 2023 concerning its approach to recovering and crediting assets under the guarantee and proceeds by the arbitral process is ongoing. In August 2022. The firm does not believe that any interim payment is required. Any amounts paid by the firm would, in any event, be subject to reimbursement in the event the assets and proceeds received by 2025, the Government of Malaysia made a demand for a final payment of approximately $1 billion towards the guarantee. The firm believes that the Government of Malaysia has recovered in excess of $1.4 billion in creditable assets and that no payment should be required. Final determinations on all issues, including whether any payment is required, will be made through August 18, 2028 exceed $1.4 billion. the arbitral process. See Note 27 for further information about matters related to 1MDB.
Source: Item 3, via Note 18 – Commitments, Contingencies and Guarantees, 10-K 0000886982-26-000091 vs Item 3, via Note 18 – Commitments, Contingencies and Guarantees, 10-K 0000886982-25-000005
Risk Factors 134 words changed in this paragraph; it is 61% similar to last year's version.
In the E.U., certain of our entities are expected to be subject in varying degrees to sustainability-related laws being implemented, including directives, such as the CSRD and the CSDDD, which would significantly expand the scope of sustainability disclosure requirements applicable to us and impose stringent due diligence requirements with respect to adverse human rights and environmental impacts. These, as well as any additional or heightened laws, regulations, guidance and expectations, many of which may have broad and extraterritorial application, have in the past subjected and may in the future, future subject us to different and potentially conflicting requirements and expectations in the various jurisdictions in which we operate, and have in the past resulted in and could in the future result in increased regulatory, compliance or other costs or higher capital requirements. The risks associated with, and the perspective of government officials, regulators, shareholders, employees and other stakeholders regarding, climate change are continuing to evolve rapidly, which can make makes it difficult to assess the ultimate impact on us of climate change-related risks and uncertainties, but we expect that uncertainties. In addition, due to divergent stakeholder views relating to climate change-related risks will increase over time. change, any actual or perceived action, or lack thereof, by us relating to climate change could be perceived negatively by some stakeholders and subject us to criticism, which may adversely affect our business, reputation, and efforts to recruit and retain employees.
Source: Item 1A, 10-K 0000886982-26-000091 vs Item 1A, 10-K 0000886982-25-000005
Accounting Policies 131 words changed in this paragraph; it is 41% similar to last year's version.
Source: Item 8, Note 3 – Significant Accounting Policies, 10-K 0000886982-26-000091 vs Item 8, Note 3 – Significant Accounting Policies, 10-K 0000886982-25-000005
Every change, by type
Sentences and paragraphs of GS's Risk Factors and MD&A, 10-K 2026-02-25 against 10-K 2025-02-27. Each links to the text at sec.gov.
Quiet changes are sentences kept from last year with one to four words changed, at least one of them a hedge, a modal or a qualifier
(may, could, will, not, significant, material…). A year or date rolling forward is not counted.
The full word list
adverse, adversely, all, although, anticipate, anticipates, any, approximately, believe, believes, can, cannot, certain, could, expect, expects, generally, however, if, intend, intends, largely, likely, many, material, materially, may, might, most, must, never, no, not, possible, primarily, probable, should, significant, significantly, some, substantial, substantially, unlikely, will, would
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RewordedRisk Factors
RewordedRisk Factors
We may not be as timely or successful in developing or integrating, or even able to develop or integrate, new products and technologies, such as those built on distributed ledgers or AI technologies, into our existing products and services, adapting to changes in client preferences or achieving market acceptance of our products and services., For example, our competitors may be more timely or successful in developing or integrating AI technologies to increase their productivity and reduce their costs or to provide better transaction execution or improved products and services to clients. services.
RewordedRisk Factors
Any of these risks could expose us to liability or adverse legal or regulatory consequences and harm our reputation and the public perception of our business or the effectiveness of our security measures. measures, and, as we expand the development and incorporation of AI technologies in our business processes, services or products, including in connection with our OneGS 3.0 initiative, these risks may be heightened.
RewordedRisk Factors
RewordedRisk Factors
Notwithstanding the proliferation of technology and technology-based risk and control systems, our businesses ultimately rely on people as our greatest resource, and, from time to time, they have in the past made mistakes or engaged in violations of applicable policies, laws, rules or procedures and may in the future make mistakes or engage in such violations of applicable policies, laws, rules or procedures that are not always caught immediately by our technological processes or by our controls and other procedures, which are intended to prevent and detect such errors or violations.
RewordedRisk Factors
RewordedRisk Factors
There may be substantial costs in complying with current or future laws and regulations relating to our commodities-related activities and investments. investments, which could increase our operating costs and adversely affect the profitability of certain of our investments and activities.
RewordedRisk Factors
RewordedRisk Factors
Allegations or publicity, whether or not accurate, that our underwriting decisions and other business decisions, including with respect to the provision of financial services, do not treat clients or consumers or clients fairly, or comply with the applicable law or regulation, have in the past resulted and may in the future result in negative publicity, reputational damage and governmental and regulatory scrutiny, investigations and enforcement actions.
RewordedRisk Factors
Further, new products, platforms and technologies, such as those including stablecoins, digital assets and others based on distributed ledgers, that do may not require intermediation and could also significantly disrupt payments processing and other financial services.
RewordedRisk Factors
There have been a number of widely publicized cases of outages in connection with access to cloud computing providers. providers, such as an incident in October 2025 that affected many businesses worldwide, including us.
RewordedRisk Factors
The risks associated with, and the perspective of government officials, regulators, shareholders, employees and other stakeholders regarding, climate change are continuing to evolve rapidly, which can make makes it difficult to assess the ultimate impact on us of climate change-related risks and uncertainties, but we expect that climate change-related risks will increase over time. uncertainties.
Quiet changesRisk Factors
Further, we may rely on AI models developed by third parties, and, to that extent, would be are dependent in part on the manner in which those third parties develop and train their models, including risks arising from the inclusion of any unauthorized material in the training data for their models, and the effectiveness of the steps these third parties have taken to limit the risks associated with the output of their models, matters over which we may have limited visibility.
Quiet changesRisk Factors
We have expended, and expect to may continue to expend, significant resources on an ongoing basis to modify our protective measures and to investigate and remediate vulnerabilities or other exposures, but these measures may be ineffective and we may be subject to legal or regulatory action, as well as financial losses that are either not insured against or not fully covered through any insurance maintained by us.
Quiet changesRisk Factors
A failure to appropriately identify and address potential conflicts of interest has in the past adversely affected and may in the future adversely affect our businesses.
Quiet changesRisk Factors
Governmental authorities may also be more likely to pursue criminal or other actions, including seeking admissions of wrongdoing or guilty pleas, in connection with the resolution of an inquiry or investigation to the extent a company is viewed as having previously engaged in criminal, regulatory or other misconduct.
Quiet changesRisk Factors
We have developed and pursued new business and strategic initiatives, including acquisitions, and may expect to continue to do so.
Quiet changesRisk Factors
We have engaged in selective acquisitions and may expect to continue to do so in the future and these acquisitions may, individually or in the aggregate, be material to us.
Quiet changesRisk Factors
AddedMD&A
During 2025, the global economy grew, including in the U.S., as economic activity remained resilient despite being impacted by continued inflationary pressures and ongoing geopolitical concerns, as well as uncertainty resulting from changes in international trade policies (including tariffs). These concerns and uncertainties contributed to periods of market volatility and the prospect of an economic recession in the U.S. during the year. Additionally, markets were focused on the timing and amount of policy interest rate cuts by central banks globally, including three rate cuts by the Federal Reserve in the second half of the year. Global equity prices were generally higher compared with the end of 2024, with some equity indices reaching record highs.
AddedMD&A
In 2025, we recognized severance expense of approximately $250 million, which was largely in connection with headcount reduction initiatives during the year.
AddedMD&A
During the fourth quarter of 2025, we announced a multi-year initiative, OneGS 3.0, to transform our operating model. We expect that the new operating model will drive expense efficiencies and create capacity for future growth.
AddedMD&A
In July 2025, H.R.1, referred to as the One Big Beautiful Bill Act (OBBBA), was signed into law. OBBBA permanently extends and modifies certain domestic and international provisions from 2017’s Tax Cuts and Jobs Act and phases out certain Inflation Reduction Act of 2022 incentives for investments in clean energy. Certain domestic provisions have retroactive effects beginning in 2025, while the international provisions are generally effective beginning in 2026. The OBBBA legislation did not have a material impact on our 2025 effective tax rate. Beginning in 2026, we expect the effective tax rate to decrease due to OBBBA changes that are expected to reduce the net U.S. tax on international earnings. We expect our 2026 annual effective tax rate to be approximately 20%.
AddedMD&A
Beginning with the fourth quarter of 2025, we made certain changes to our segments as we continued to narrow our strategic focus with respect to consumer-related activities within Platform Solutions. Prior periods are presented on a comparable basis. See “Business — Our Business Segments” in Part I, Item 1 of this Form 10-K for further information.
AddedMD&A
In September 2025, we announced a strategic collaboration with T. Rowe Price, aimed at delivering a range of diversified public and private market investment solutions designed for the needs of the retirement and wealth markets. As part of this strategic collaboration, we agreed to invest up to $1 billion in T. Rowe Price common stock.
AddedMD&A
In October 2025, we entered into an agreement to acquire Industry Ventures. The transaction amount consists of $665 million and additional contingent consideration of up to $300 million, payable in both cash and equity, subject to Industry Ventures’ achievement of future performance targets through 2030. This acquisition closed in January 2026.
AddedMD&A
In December 2025, we entered into an agreement to acquire Innovator Capital Management. The transaction amount consists of approximately $2.0 billion in cash and equity, subject to Innovator Capital Management’s achievement of future performance targets through 2030. The acquisition is expected to close in the second quarter of 2026, subject to regulatory approval and customary closing conditions.
AddedMD&A
Beginning in the fourth quarter of 2025, we made the following changes to the classification of our AUS:
AddedMD&A
•Certain AUS have been reclassified from fixed income to alternative investments to better reflect the underlying investment strategies.
AddedMD&A
•OCIO (accounts where we are the outsourced chief investment officer of our clients) assets have been reclassified from funds and discretionary accounts to be reported in aggregate with advisory accounts.
AddedMD&A
•Certain assets have been reclassified from advisory accounts to funds and discretionary accounts to better reflect the investment type of these assets.
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RewordedMD&A
These statements may relate to, among other things, (i) our future plans and results, including our target return on average common shareholders’ equity (ROE), return on average tangible common shareholders’ equity (ROTE), efficiency ratio, Common Equity Tier 1 (CET1) capital ratio and firmwide ratio, total credit alternative assets, total alternative assets under supervision (AUS), long-term wealth management inflows and percentage growth rate for Management and other fees from alternatives, and how they can be achieved, (ii) trends in or growth opportunities for our businesses, including the timing, costs, profitability, benefits and other aspects of business and strategic initiatives initiatives, such as OneGS 3.0, and their impact on our efficiency ratio, as well as (iii) the opportunities and challenges presented by artificial intelligence (AI), (iii) our level of future compensation expense, (iv) our Investment banking fees backlog and future advisory and capital markets results, (v) our expected interest income and interest expense, (vi) our expense savings and strategic locations initiatives, (vii) expenses we may incur, including the level of future litigation compensation expense, (viii) (vi) the projected growth of our deposits and other funding, asset liability management and funding strategies and related interest expense savings, (ix) (vii) our business and expense savings initiatives, (x) including OneGS 3.0, (viii) our planned 2025 benchmark debt issuances, (xi) the amount, composition and location of global core liquid assets (GCLA) we expect to hold, (xii) (ix) our credit exposures, (xiii) (x) our expected provision for credit losses, (xiv) losses and the adequacy of our allowance for credit losses, (xv) the narrowing of our consumer business, (xvi) (xi) the objectives and effectiveness of our business continuity planning (BCP), information security program, risk management and liquidity policies, (xvii) (xii) our resolution plan and its implications for stakeholders, (xviii) the design and effectiveness of our resolution capital and liquidity models and triggers and alerts framework, (xix) the results of stress tests, (xiii) the effect of changes to regulations, and our future status, activities or reporting under banking and financial regulation, (xx) (xiv) our expected tax rate, (xxi) (xv) the future state of our liquidity and regulatory capital ratios, and our prospective capital distributions (including dividends and repurchases), (xxii) (xvi) our expected stress capital buffer (SCB) and global systemically important bank (G-SIB) surcharge, (xxiii) (xvii) legal proceedings, governmental investigations or other contingencies, (xxiv) (xviii) the asset recovery guarantee and our remediation activities applications for exemptions and authorizations from regulatory authorities related to our 1Malaysia Development Berhad (1MDB) settlements, (xxv) (xix) the effectiveness of our management of our human capital, (xxvi) capital and changes in headcount, (xx) our sustainability and carbon neutrality targets and goals, (xxvii) (xxi) future inflation, (xxviii) the impact of Russia’s invasion of Ukraine and related sanctions and other developments on our business, results and financial position, (xxix) (xxii) our ability to sell, and the terms of any proposed or pending sales of, Asset & Wealth Management historical principal investments, and our ability to transition the General Motors (GM) credit card program, (xxx) the impact of the conflicts in the Middle East, (xxxi) our ability Apple Card program to manage our commercial real estate exposures, (xxxii) the profitability of Platform Solutions and (xxxiii) another issuer, (xxiii) the effectiveness of our cybersecurity risk management process. process and (xxiv) our completed and announced partnership and acquisitions.
RewordedMD&A
As of December 2024, 2025, total assets in our consolidated balance sheets were $1.68 $1.81 trillion, an increase of $34.38 $133.35 billion from December 2023, 2024, primarily reflecting increases in trading assets of $93.05 $86.24 billion (primarily due to an increase increases in equity securities, government obligations, and agency obligations and corporate debt, reflecting the impact of our and our clients’ activities), investments customer and other receivables of $37.68 $52.13 billion (reflecting our clients’ activities), loans of $41.53 billion (primarily due to an increases in other collateralized lending and real estate loans) and investments of $9.75 billion (reflecting a net increase in U.S. government obligations obligations, due to increases in securities accounted for as available-for-sale) and loans of $12.84 billion (primarily reflecting our clients’ activities), available-for-sale, partially offset by securities accounted for as held-to-maturity), partially offset by decreases in collateralized agreements of $40.49 billion (reflecting our and our clients’ activities) and cash and cash equivalents of $59.49 $17.83 billion (primarily reflecting our activity) and collateralized agreements of $48.52 billion (primarily reflecting our activity). activities).
RewordedMD&A
RewordedMD&A
As of December $ in billions 2025 2024 2023 Equity securities Alternative investments $ 13.4 26.9 $ 13.2 30.7 Region Americas 68 56 % 70 58 % EMEA 17 33 % 15 28 % Asia 15 11 % 15 14 % Total 100 % 100 % Industry Consumer & Retail 5 8 % 6 9 % Financial Institutions 15 10 % 7 % Healthcare 9 % 10 % Industrials 11 % 11 % Healthcare 6 % 6 % Industrials 7 % 10 % Natural Resources & Utilities 14 8 % 13 8 % Real Estate 27 15 % 30 19 % Technology, Media & Telecommunications 24 30 % 22 27 % Other 2 9 % 2 9 % Total 100 % 100 %
RewordedMD&A
Commissions and fees in the consolidated statements of earnings were $4.09 $4.04 billion for 2025, essentially unchanged compared with 2024, 8% higher than 2023, due primarily reflecting a reduction in revenues related to contract termination obligations in connection with the agreement to transition the Apple Card program to another issuer, offset by higher commissions and fees in Equities, reflecting generally higher market volumes and increased transaction fees, partially offset by a loss related to the planned transition of the GM credit card program to another issuer. fees.
RewordedMD&A
Our total securities sold under agreements to repurchase (repurchase agreements), agreements, accounted for as collateralized financings, were $274.38 billion as of December 2024 and $249.89 billion as of December 2023, which were 5% higher as of December 2024 and 21% higher as of December 2023 than the average daily amount of repurchase agreements over during the respective quarters, quarter and 9% higher as of December 2024 and 26% higher as of December 2023 than the average daily amount of repurchase agreements over during the respective years. year.
RewordedMD&A
Includes (i) secured lending to our clients through structured credit mortgage and other asset-backed lending, including warehouse loans backed by mortgages (including residential and commercial mortgage loans), corporate loans and consumer loans (including auto loans and private student loans), (ii) financing through securities purchased under agreements to resell (resale agreements) and (iii) other FICC financing (including commodity financing to clients through structured transactions. transactions, facilitating institutional primary loans for syndication and providing structured letters of credit to corporate clients).
RewordedMD&A
Investment banking revenues in the consolidated statements of earnings were $7.74 $9.35 billion for 2024, 24% 2025, 21% higher than 2023, primarily reflecting 2024, due to significantly higher revenues in advisory, reflecting a significant increase in completed mergers and acquisitions volumes, and higher revenues in both debt underwriting, primarily driven by leveraged finance activity, underwriting and in equity underwriting, primarily driven by secondary and initial public offerings. underwriting.
RewordedMD&A
The effective income tax rate for 2024 2025 was 22.4%, up 21.4%, down from the full year income effective tax rate of 20.7% 22.4% for 2023, 2024, primarily due to an increase in tax benefits on the settlement of employee share-based awards, partially offset by a decrease in the impact of other permanent tax benefits benefits, for 2024 2025 compared with 2023, partially offset by changes in the geographic mix full year of earnings. 2024.
RewordedMD&A
Net revenues in FICC were $13.20 $14.52 billion, 9% higher than 2023, 2024, primarily reflecting higher net revenues in FICC intermediation, due to significantly higher net revenues in FICC financing, primarily driven interest rate products and slightly higher net revenues in currencies and commodities, partially offset by lower net revenues in mortgages and structured lending. credit products.
RewordedMD&A
Net revenues in Equities were $13.43 $16.54 billion, 16% 23% higher than 2023, reflecting 2024, due to significantly higher net revenues in Equities financing, driven by significantly higher net revenues in prime financing and portfolio financing, and higher net revenues in Equities intermediation, primarily driven by derivatives, and higher net revenues in Equities financing, driven by prime financing. derivatives.
RewordedMD&A
Operating expenses were $1.96 $1.38 billion for 2024, 43% 2025, 13% lower than 2023, 2024, primarily due to reflecting the impact of the sale of GreenSky and the write-down of identifiable intangible assets related to GreenSky and an impairment of goodwill related to Consumer platforms the GM credit card program in the prior year period. year.
Quiet changesMD&A
The increase in net revenues in Global Banking & Markets primarily reflected significantly higher net revenues in Equities, significantly higher Investment banking fees and higher net revenues in Fixed Income, Currency and Commodities (FICC).
Quiet changesMD&A
The increase in Incentive fees was primarily driven by harvesting. performance.
Quiet changesMD&A
These profits would have contributed 151 basis points to the CET1 capital ratio as of December 2024.
Quiet changesMD&A
These profits would have contributed 54 basis points to the leverage ratio as of December 2024.
Quiet changesMD&A
The percentage of our credit exposures arising from non-investment-grade counterparties (based on our internally determined public rating agency equivalents) increased slightly compared with December 2023, primarily 2024, reflecting a decrease in investment-grade credit exposure related to cash deposits with central banks.
Work on GS in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/GS/export.csv") into a cell.