Financial health
- Total debt ($356.0B) exceeds cash ($164.3B); net debt is $191.7B.
Shareholder returns
- Dividends have been paid for 15 consecutive years, consuming 30.7% of earnings.
- The dividend has grown 17.7% per year over the past 5 years.
GS Financials Goldman Sachs
15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
Net income
ROEROA
Equity
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | — | $17.2B | — | — | 13.7% | 0.9% | -$47.2B | $356.0B | $164.3B |
| 2024 | — | $14.3B | — | — | 11.7% | 0.9% | -$15.3B | $312.3B | $182.1B |
| 2023 | — | $8.5B | — | — | 7.3% | 0.5% | -$14.9B | $317.8B | $241.6B |
| 2022 | — | $11.3B | — | — | 9.6% | 0.8% | $5.0B | $308.1B | $241.8B |
| 2021 | — | $21.6B | — | — | 19.7% | 1.5% | $1.6B | $301.0B | $261.0B |
| 2020 | — | $9.5B | — | — | 9.9% | 0.8% | -$24.8B | $266.4B | $155.8B |
| 2019 | — | $8.5B | — | — | 9.4% | 0.9% | $15.4B | $255.4B | $133.5B |
| 2018 | — | $10.5B | — | — | 11.6% | 1.1% | $8.6B | $264.7B | $130.5B |
| 2017 | — | $4.3B | — | — | 5.2% | 0.5% | -$23.7B | $227.6B | $110.1B |
| 2016 | — | $7.4B | — | — | 8.5% | 0.9% | $3.6B | $197.5B | $121.7B |
| 2015 | — | $6.1B | — | — | 7.0% | 0.7% | — | $243.0B | $93.4B |
| 2014 | — | $8.5B | — | — | 10.2% | 1.0% | — | $234.7B | $75.0B |
| 2013 | — | $8.0B | — | — | 10.2% | 0.9% | — | $168.5B | $78.9B |
| 2012 | — | $7.5B | — | — | 9.9% | 0.8% | — | $243.6B | $72.7B |
| 2011 | — | $4.4B | — | — | 6.3% | 0.5% | — | $259.9B | $56.0B |
Net income
ROEROA
Equity
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | — | $6.6B | — | — | 5.4% | 0.3% | $5.6B | $437.9B | $187.3B |
| Mar '26 | — | $5.6B | — | — | 4.6% | 0.3% | -$32.4B | $396.3B | $179.5B |
| Dec '25 | — | $4.6B | — | — | 3.7% | 0.3% | -$16.8B | $356.0B | $164.3B |
| Sep '25 | — | $4.1B | — | — | 3.3% | 0.2% | $2.1B | $349.3B | $169.6B |
| Jun '25 | — | $3.7B | — | — | 3.0% | 0.2% | $5.2B | $349.0B | $153.0B |
| Mar '25 | — | $4.7B | — | — | 3.8% | 0.3% | -$37.7B | $333.9B | $167.4B |
| Dec '24 | — | $4.1B | — | — | 3.4% | 0.2% | $46.2B | $312.3B | $182.1B |
| Sep '24 | — | $3.0B | — | — | 2.5% | 0.2% | -$38.5B | $325.6B | $154.7B |
| Jun '24 | — | $3.0B | — | — | 2.5% | 0.2% | $5.6B | $311.4B | $206.3B |
| Mar '24 | — | $4.1B | — | — | 3.5% | 0.2% | -$28.5B | $312.5B | $209.4B |
| Dec '23 | — | $2.0B | — | — | 1.7% | 0.1% | -$28.9B | $317.8B | $241.6B |
| Sep '23 | — | $2.1B | — | — | 1.8% | 0.1% | -$26.0B | $294.0B | $239.9B |
| Jun '23 | — | $1.2B | — | — | 1.0% | 0.1% | $31.2B | $300.9B | $270.9B |
| Mar '23 | — | $3.2B | — | — | 2.8% | 0.2% | $8.8B | $305.4B | $229.3B |
| Dec '22 | — | $1.3B | — | — | 1.1% | 0.1% | -$33.9B | $308.1B | $241.8B |
| Sep '22 | — | $3.1B | — | — | 2.6% | 0.2% | $15.0B | $291.8B | $284.3B |
| Jun '22 | — | $2.9B | — | — | 2.5% | 0.2% | $44.3B | $308.1B | $288.6B |
| Mar '22 | — | $3.9B | — | — | 3.4% | 0.2% | -$20.5B | $316.5B | $274.2B |
| Dec '21 | — | $3.9B | — | — | 3.6% | 0.3% | $29.2B | $301.0B | $261.0B |
| Sep '21 | — | $5.4B | — | — | 5.1% | 0.4% | -$40.1B | $291.8B | $211.8B |
Valuation over time
How the market has priced GS against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has risen from 8.5× (Mar '23) to 17.6× (Sep '26).
- The dividend yield has fallen from 3.9% (Mar '23) to 1.7% (Sep '26).
P/E
Dividend yield %
Frequently asked questions
Is GS growing its revenue and profit?
See the revenue and net-income charts above for Goldman Sachs's multi-year trend.
How much debt does GS have?
As of FY2025, Goldman Sachs reported $356.0B of total debt against $164.3B of cash.
What is GS's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin —.
What is GS's P/E ratio?
As of Sep '26, Goldman Sachs traded at a price-to-earnings ratio of about 17.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.