Sales up 8.9%, free cash flow down to -$47.2B
The latest figures
All key numbers (33) From EDGAR
| EPS (ttm) | 69.55 | Sales (ttm) | 69.7B | Net income (ttm) | 22.2B | Sales growth | +8.9% | EPS growth | +26.6% | Sales Q/Q | +23.0% |
| Free cash flow | -40.0B | Gross margin | - | Oper. margin | - | Net margin | 31.8% | FCF margin | -57.4% | ROE | 17.7% |
| ROA | 1.0% | R&D / sales | - | Dividend | 14.00 | Debt/Eq | 3.56 | Curr. ratio | - | Cash | 176.8B |
| Op. cash flow (ttm) | -37.9B | Net debt | 268.0B | Payout ratio | 27.3% | Tax rate | 21.4% | Stock pay / sales | 5.9% | Shares out. | 288.4M |
| Shares Y/Y | -4.8% | Book / share | 433.13 | Cash / share | 612.85 | Sales / share | 241.64 | Asset turnover | 0.03 | Sales 3Y CAGR | +7.2% |
| Sales 5Y CAGR | +5.5% | EPS 3Y CAGR | +19.5% | EPS 5Y CAGR | +15.7% |
Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.
Changes in the numbers
FY2025 against FY2024-
Revenue growth slowed to +8.9%+15.7% → +8.9% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
GS against Financials peers
Ten years, side by side → · All 76 →Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How
Every dot is one of the 76 companies, the better end on the right. Hover a dot for the company.
| Company | Revenue (ttm) | Sales growth | Gross margin | Net margin | ROE | FCF margin | Debt / equity |
|---|---|---|---|---|---|---|---|
| GS Goldman Sachs | $69.7B | +8.9% | - | 31.8% | 17.7% | -57.4% | 3.56 |
| AXP American Express | $77.6B | +9.5% | - | 15.8% | 34.2% | 17.9% | 1.67 |
| ALL Allstate | $70.2B | +5.6% | - | 16.6% | 36.0% | 18.1% | 0.23 |
| COF Capital One | $63.0B | +36.6% | - | 17.2% | 9.9% | 41.7% | 0.45 |
| CB Chubb Limited | $61.8B | +6.5% | - | 18.2% | 15.3% | - | 0.25 |
| PRU Prudential Financial | $61.3B | -13.7% | - | 6.3% | 13.1% | - | 0.70 |
Profitability
3 of 3- ✓Net margin above the peer median31.8% vs 20.4%
- ✓Return on equity above 15%17.7%
- ✓A profit in every one of 10 years
Cash and shareholders
2 of 2- ✓Share count down over 5 years−11.9%
- ✓Dividend per share up over 5 years$5.00 → $14.00
Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.
Revenue and net income, FY2016 to FY2025
Revenue 58.3B Net income 17.2BFrom XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →
Where the $58.3B of revenue came from
by segment, year to Dec 31, 2025- Global Banking & Markets $41.5B · 71%
- Asset & Wealth Management $16.7B · 29%
- Platform Solutions $151.0M · 0%
From the segment tables in the 10-K XBRL. Revenue by segment, product and region →
Income statement, balance sheet and cash flow
GS's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.
Revenue by business segment
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| Global Banking & Markets | 41.5B | 71.1% | +18.2% |
| Asset & Wealth Management | 16.7B | 28.6% | +2.2% |
| Platform Solutions | 151.0M | 0.3% | -92.9% |
10-K 0000886982-26-000091, segment and revenue notes (XBRL).
Revenue by region
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| Americas | 36.5B | 62.7% | +6.1% |
| EMEA | 14.2B | 24.3% | +15.6% |
| Asia | 7.6B | 13.0% | +11.2% |
10-K 0000886982-26-000091, segment and revenue notes (XBRL).
Income statement
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 30.8B | 32.7B | 36.6B | 36.5B | 44.6B | 59.3B | 47.4B | 46.3B | 53.5B | 58.3B |
| Interest expense | 7.1B | 10.2B | 15.9B | 17.4B | 8.9B | 5.7B | 21.3B | 62.2B | 73.3B | 66.8B |
| Pretax income | 10.3B | 11.1B | 12.5B | 10.6B | 12.5B | 27.0B | 13.5B | 10.7B | 18.4B | 21.9B |
| Income tax | 2.9B | 6.8B | 2.0B | 2.1B | 3.0B | 5.4B | 2.2B | 2.2B | 4.1B | 4.7B |
| Net income | 7.4B | 4.3B | 10.5B | 8.5B | 9.5B | 21.6B | 11.3B | 8.5B | 14.3B | 17.2B |
| EPS (diluted) | 16.29 | 9.01 | 25.27 | 21.03 | 24.74 | 59.45 | 30.06 | 22.87 | 40.54 | 51.32 |
| Diluted shares | 435.1M | 409.1M | 390.2M | 375.5M | 360.3M | 355.8M | 358.1M | 345.8M | 333.6M | 317.6M |
| Depreciation & amortization | 998.0M | 1.2B | 1.3B | 1.7B | 1.9B | 2.0B | 2.5B | 4.9B | 2.4B | 2.2B |
| Net margin | 24.0% | 13.1% | 28.6% | 23.2% | 21.2% | 36.5% | 23.8% | 18.4% | 26.7% | 29.5% |
| Revenue growth | - | +6.3% | +11.9% | -0.2% | +21.9% | +33.2% | -20.2% | -2.3% | +15.7% | +8.9% |
| EPS growth | - | -44.7% | +180% | -16.8% | +17.6% | +140% | -49.4% | -23.9% | +77.3% | +26.6% |
Balance sheet
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash | 121.7B | 110.1B | 130.5B | 133.5B | 155.8B | 261.0B | 241.8B | 241.6B | 182.1B | 164.3B |
| Property & equipment | - | - | - | - | - | - | 17.1B | 11.2B | 8.0B | 7.5B |
| Goodwill | 3.7B | 3.7B | 3.8B | 4.2B | 4.3B | 4.3B | 6.4B | 5.9B | 5.9B | 5.9B |
| Total assets | 860.2B | 916.8B | 931.8B | 993.0B | 1.16T | 1.46T | 1.44T | 1.64T | 1.68T | 1.81T |
| Total debt | 197.5B | 227.6B | 236.0B | 255.4B | 266.4B | 301.0B | 308.1B | 317.8B | 312.3B | 356.0B |
| Total liabilities | 773.3B | 834.5B | 841.6B | 902.7B | 1.07T | 1.35T | 1.32T | 1.52T | 1.55T | 1.68T |
| Shareholders' equity | 86.9B | 82.2B | 90.2B | 90.3B | 95.9B | 109.9B | 117.2B | 116.9B | 122.0B | 125.0B |
| Retained earnings | 89.0B | 91.5B | 100.1B | 106.5B | 112.9B | 131.8B | 139.4B | 143.7B | 153.4B | 165.3B |
Cash flow
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 6.5B | -20.5B | 16.6B | 23.9B | -18.5B | 6.3B | 8.7B | -12.6B | -13.2B | -45.2B |
| Capital spending | 2.9B | 3.2B | 8.0B | 8.4B | 6.3B | 4.7B | 3.7B | 2.3B | 2.1B | 2.1B |
| Free cash flow | 3.6B | -23.7B | 8.6B | 15.4B | -24.8B | 1.6B | 5.0B | -14.9B | -15.3B | -47.2B |
| Stock-based pay (added back) | 2.1B | 1.8B | 1.8B | 2.0B | 1.9B | 2.3B | 4.1B | 2.1B | 2.7B | 3.4B |
| Dividends paid | 1.7B | 1.8B | 1.8B | 2.1B | 2.3B | 2.7B | 3.7B | 4.2B | 4.5B | 5.3B |
| Buybacks | 6.1B | 6.8B | 3.3B | 5.3B | 1.9B | 5.2B | 3.5B | 5.8B | 8.0B | 12.4B |
| Acquisitions | -14.9B | 2.4B | 162.0M | 803.0M | 231.0M | 0 | 2.1B | -487.0M | - | - |
| Investing cash flow | 9.7B | -26.4B | -18.8B | -24.2B | -34.4B | -30.5B | -76.0B | -17.3B | -49.6B | -44.2B |
| Financing cash flow | 12.1B | 35.2B | 22.8B | 3.4B | 70.4B | 134.7B | 59.6B | 27.8B | 7.3B | 66.1B |
| Dividend per share | 2.60 | 2.90 | 3.15 | 4.15 | 5.00 | 6.50 | 9.00 | 10.50 | 11.50 | 14.00 |
Stock-based pay and leases
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based pay (expense) | 2.1B | 1.8B | 1.8B | 2.0B | 1.9B | 2.3B | 4.1B | 2.1B | 2.7B | 3.4B |
| Stock-based pay / revenue | 6.9% | 5.4% | 5.0% | 5.5% | 4.3% | 4.0% | 8.6% | 4.5% | 5.0% | 5.9% |
| Right-of-use assets | - | - | - | 2.4B | 2.3B | 2.3B | 2.2B | 2.2B | 2.0B | 2.0B |
| Operating lease liabilities | - | - | - | 2.4B | 2.3B | 2.3B | 2.2B | 2.2B | 2.1B | 2.2B |
From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.