GSNYSESecurity Brokers, Dealers & Flotation CompaniesFiscal year ends December 31Also trades as GS.PA, GS.PC, GS.PD, GSCE
GOLDMAN SACHS GROUP INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 3, 2026
$875.78−5.48 (-0.62%)
Close on Oct 19, 2026
- Market cap
- $267.03B
- P/E (TTM)
- 13.5
- Dividend yield
- 1.60%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
29.5%+8.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.9% | +7.2% | +5.5% | +5.6% | |
| Net income | +20.3% | +15.1% | +12.7% | +10.9% | |
| EPS, diluted | +26.6% | +19.5% | +15.7% | +15.5% | |
| Dividend per share | +21.7% | +15.9% | +22.9% | +18.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 8.5% | 10.2% | 13.9% | |
| Return on assets | 0.9% | 0.9% | 1.0% | |
| Debt to equity | 2.27 | – | – | |
| Capex to revenue | 9.3% | 14.2% | 3.5% | |
| Diluted shares | 435M | 360M | 318M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Goldman Sachs generated $85.96B from operations and spent $70.11B on capital expenditure, dividends and share buybacks. 21% of that went back into the business.
Generated
$85.96B
Used
$70.11B
Capital expenditure$14.89B21%Dividends$20.37B29%Share buybacks$34.86B50%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin29.5%
×Asset turnover0.03×
×Equity multiplier14.11×
=Return on equity, FY202513.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 29.5% | 0.03× | 14.11× | 13.9% |
| FY2024 | 26.7% | 0.03× | 13.89× | 12.0% |
| FY2023 | 18.4% | 0.03× | 13.17× | 7.3% |
| FY2022 | 23.8% | 0.03× | 12.79× | 9.9% |
| FY2021 | 36.5% | 0.05× | 12.76× | 21.0% |
| FY2020 | 21.2% | 0.04× | 11.58× | 10.2% |
| FY2019 | 23.2% | 0.04× | 10.67× | 9.4% |
| FY2018 | 28.6% | 0.04× | 10.72× | 12.1% |
| FY2017 | 13.1% | 0.04× | 10.51× | 5.1% |
| FY2016 | 24.0% | 0.04× | 9.92× | 8.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$17.18B
- Cash generatingOperating cash flow above zero-$45.15B
- Return on assets improvedROA up on the prior year0.9% → 1.0%
- Earnings backed by cashOperating cash flow above net income-$45.15B vs $17.18B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise334M → 318M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.03 → 0.03