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GS-PA

The Goldman Sachs Group, Inc.

GS-PA

The Goldman Sachs Group, Inc. • NYSE
$19.45 ▲ 0.78% (+0.15)
Market Cap $200.87 B
52w High $24.48
52w Low $18.96
Dividend Yield 1.35%
P/E 0.38
Volume 105.90K
Outstanding Shares 10.25B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $37.296B ▲ $9.453B ▲ $4.098B ▲ 10.988% ▼ $12.42 ▲ $5.923B ▲
Q2-2025 $31.268B ▼ $9.241B ▲ $3.723B ▼ 11.907% ▼ $11.07 ▼ $5.576B ▼
Q1-2025 $31.55B ▼ $9.128B ▲ $4.738B ▲ 15.017% ▲ $14.25 ▲ $6.153B ▲
Q4-2024 $32.24B ▲ $8.261B ▼ $4.111B ▲ 12.751% ▲ $12.17 ▲ $5.755B ▲
Q3-2024 $31.524B $8.315B $2.99B 9.485% $8.52 $4.608B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $516B ▲ $1.808T ▲ $1.676T ▲ $124B ▼
Q2-2025 $166.72B ▼ $1.785T ▲ $1.661T ▲ $124.096B ▼
Q1-2025 $924.884B ▲ $1.766T ▲ $1.642T ▲ $124.3B ▲
Q4-2024 $921.83B ▼ $1.676T ▼ $1.554T ▼ $121.996B ▲
Q3-2024 $942.751B $1.728T $1.607T $121.2B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $4.098B ▲ $0 ▼ $0 ▲ $0 ▲ $-152.967B ▼ $0 ▼
Q2-2025 $3.723B ▼ $5.672B ▲ $-11.334B ▲ $-13.262B ▼ $-14.441B ▲ $5.196B ▲
Q1-2025 $4.738B ▲ $-37.23B ▼ $-22.747B ▼ $42.826B ▲ $-14.684B ▼ $-37.729B ▼
Q4-2024 $4.111B ▲ $46.766B ▲ $-7.115B ▲ $-7.817B ▼ $27.403B ▲ $46.18B ▲
Q3-2024 $2.99B $-38.06B $-29.286B $10.34B $-51.637B $-38.526B

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Global Markets
Global Markets
 $8.55Bn ▲$8.48Bn ▼$10.71Bn ▲$10.12Bn ▼
Investment Management
Investment Management
 $3.75Bn ▲$4.72Bn ▲$3.68Bn ▼$3.78Bn ▲
Platform Solutions
Platform Solutions
 $390.00M ▲$670.00M ▲$680.00M ▲$690.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Goldman Sachs shows a classic investment‑bank pattern: earnings can swing with markets, but the overall trend over these years is upward. Revenue has grown strongly, especially in the most recent year, after a softer patch in the middle of the period. Profitability rebounded meaningfully after that dip, suggesting the firm adjusted well to shifting market conditions. Margins remain solid for a capital‑markets business, but the history here reminds you that results are cyclical and can move sharply with deal activity, trading volumes, and interest‑rate conditions.

Balance Sheet

Balance Sheet The balance sheet has expanded steadily, with total assets climbing over time as the firm grows its trading books, lending, and client activities. Cash and liquid resources are sizable, though they fluctuate as markets and client flows change. Debt has risen alongside assets, which is typical for a large global investment bank that relies heavily on funding markets. Equity has inched up gradually, supporting growth but leaving the structure still highly leveraged, as is normal for this type of institution. Overall, the balance sheet looks robust but remains inherently sensitive to funding conditions and risk management discipline.

Cash Flow

Cash Flow Reported operating and free cash flow move from positive to negative across the years and can look volatile. For a capital‑markets firm, this often reflects swings in trading assets, collateral movements, and client balances rather than simple “cash profits” or everyday business strain. Capital spending is modest relative to the scale of the company, consistent with a service and technology‑heavy model rather than a factory‑heavy one. The key takeaway is that traditional industrial-style cash flow analysis is less straightforward here; liquidity, funding access, and risk controls matter more than the raw cash flow line items in any single year.

Competitive Edge

Competitive Edge Goldman Sachs remains one of the most entrenched franchises in global finance. Its brand, long-standing relationships with governments, large corporations, and institutional investors, and deep product breadth give it a strong position across investment banking, trading, and asset management. Scale and a broad global footprint create barriers for would‑be challengers, while its reputation helps attract top talent, which in turn reinforces its edge in complex transactions and sophisticated risk management. That said, it operates in a fiercely competitive field against other global banks, non‑bank financials, and increasingly tech‑enabled platforms, so it must keep evolving to defend its share.

Innovation and R&D

Innovation and R&D The firm is leaning heavily into technology as a core differentiator. It has built cloud‑based platforms with major tech partners, uses artificial intelligence across trading, risk, compliance, and client service, and has developed digital platforms such as Marquee for institutional clients and Marcus for consumer banking. Its transaction banking platform is cloud‑native and API‑driven, and it is experimenting with digital assets and tokenization through initiatives like its digital asset platform. While Goldman does not report “R&D” the way a tech company might, the strategy clearly emphasizes ongoing investment in proprietary technology and data capabilities as a central part of its moat.

Summary

Overall, Goldman Sachs appears as a large, cyclical but profitable financial institution with earnings that can rise strongly when markets are favorable and contract when conditions are tougher. Its balance sheet is sizable and highly leveraged in line with global investment bank norms, supported by strong branding, diversified businesses, and risk management capabilities. Cash flow patterns are choppy and less informative than for industrial companies, given the nature of capital markets activity. The firm’s competitive position is underpinned by reputation, relationships, talent, and now increasingly by technology, as it invests in AI, cloud platforms, digital banking, and digital assets. For holders of instruments tied to Goldman Sachs, such as preferred shares, the key themes are the strength and cyclicality of the franchise, its dependence on global market conditions and regulation, and its ongoing push to stay ahead through innovation and diversification.