Goldman Sachs GS

Investment banking. The Goldman Sachs Group, Inc., listed on NYSE.

Based on the FY2025 annual report (Jan 2025 – Dec 2025)

Goldman Sachs' market cap is
about $250.8 billion.

#42 by market cap among 289 companies, based on the Nov 5, 2026 close. FY2025 revenue was $58.283B.

Share price (close): $868.95; Close on Nov 5, 2026 · per share
P/E ratio: 16.9x; Closing price ÷ latest annual EPS
Market cap: $250.8B; #42 of 289
Revenue: $58.283B; #71 of 299 · +8.9% YoY
Operating income: —; Not reported
Net income: $17.176B; #21 of 298 · +20.3% YoY
Free cash flow: −$47.218B; #260 of 261 · −208.6% YoY
Total assets: $1,809.32B; #5 of 299 · +8.0% YoY
Dividends paid: $5.277B; #31 of 214 · +17.3% YoY
Dividend per share: $14.00; #3 of 205 · +21.7% YoY
Dividend yield: 1.6%; #109 of 203
Shares outstanding: 296,476,742 shares; As of Dec 31, 2025

Size, put in perspective

Revenue every second$1,850$160M a day

Net income every second$545$47.1M a day

Buying Morgan Stanley with a year's profit6.0% of itBased on Morgan Stanley's market cap of about $285.6 billion

Market cap vs Morgan Stanley0.9×Goldman Sachs ÷ Morgan Stanley

Calculated from the FY2025 annual report, spread evenly over 365 days.

Where the revenue went

Revenue is set at 100% and split into what went to costs, R&D, operating expenses and taxes, and what was left as profit.

Expenses62.5%
Income taxes & other8.0%
Net income29.5%

Profitability and stability

Each figure comes with its rank among 300 companies. The further right the dot, the higher the rank.

Revenue growthHow much revenue grew from the previous fiscal year: +8.9%; #129 of 299; Revenue is growing steadily. The median across 299 companies is +7.9%.
Operating marginShare of revenue kept as profit from the core business: —; Not ranked; Banks and insurers often don't report operating income, so look at pretax income instead.
Net marginShare of revenue left as profit after interest and taxes: 29.5%; #39 of 298; After taxes, 29.5% of revenue was left as net income. The median across 298 companies is 14.0%.
FCF marginShare of revenue left as cash after capital spending: −81.0%; #259 of 261; The company spent more on investment than it generated in cash. The median across 261 companies is 15.8%.
ROEHow much profit the company earned on shareholders' equity in a year: 13.9%; #161 of 276; Earnings relative to equity are about average. The median across 276 companies is 16.8%.
Debt-to-equityLiabilities relative to equity. Lower means less debt: —; Not ranked; Bank and insurer liabilities include customer deposits and insurance reserves, so they aren't compared with other industries.

Revenue and profit over time

Gray bars show revenue and the green part inside shows net income. The number above each bar is revenue (abbreviated) and the number below is net margin. Hover over a bar to see the exact amounts.

Currency: US dollars. Years are the years in which each fiscal year ended.

Where the cash went

Unlike profit, cash flow is money that actually came in and went out.

Cash from operations−$45.154B
Capital spending−$2.064B
Cash shortfall (FCF)−$47.218B
Dividends paid−$5.277B

Whose money funds the assets

The company's assets, split into borrowed money (liabilities) and shareholders' money (equity).

Liabilities 93%Equity 7%

Total assets$1,809.32B
Total liabilities$1,684.348B
Total equity$124.972B
Cash and equivalents$164.259B

For banks and insurers, customer deposits and insurance reserves count as liabilities, so the liability share looks large.

Compared with similar companies

Based on each company's latest annual report, so fiscal year ends may differ.

Compare in detail

Company	Annual revenue	Net income	Revenue growth	Operating margin	Net margin
Goldman SachsGS	$58.283B	$17.176B	+8.9%	—	29.5%
Morgan StanleyMS	$70.645B	$16.861B	+14.4%	—	23.9%
Charles SchwabSCHW	$23.921B	$8.852B	+22.0%	—	37.0%
BNYBNY	$20.08B	$5.549B	+7.8%	—	27.6%
RobinhoodHOOD	$4.473B	$1.883B	+51.6%	—	42.1%

Head-to-head comparisons

What the company does

Goldman Sachs is a leading investment bank that advises on mergers and acquisitions, trades stocks and bonds, and manages money for institutions and wealthy clients.

The fiscal year ends around December each year.

Related companies: Morgan Stanley, Charles Schwab, BNY, Robinhood

Financial statements

Last 5 fiscal years. Currency: US dollars.

Show the table

Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	59.339B	47.365B	46.254B	53.512B	58.283B
Pretax income	27.044B	13.486B	10.739B	18.397B	21.852B
Net income	21.635B	11.261B	8.516B	14.276B	17.176B
EPS (diluted)	$59.45	$30.06	$22.87	$40.54	$51.32
Operating cash flow	6.298B	8.708B	−12.587B	−13.212B	−45.154B
Capital expenditures	4.667B	3.748B	2.316B	2.091B	2.064B
Free cash flow (FCF)	1.631B	4.96B	−14.903B	−15.303B	−47.218B
Dividends paid	2.725B	3.682B	4.189B	4.497B	5.277B
Total assets	1,463.988B	1,441.799B	1,641.594B	1,675.972B	1,809.32B
Total liabilities	1,354.062B	1,324.61B	1,524.689B	1,553.976B	1,684.348B
Total equity	109.926B	117.189B	116.905B	121.996B	124.972B
Cash and equivalents	261.036B	241.825B	241.577B	182.092B	164.259B
Original filing	10-K	10-K	10-K	10-K	10-K

Source: SEC EDGAR filings for The Goldman Sachs Group, Inc. · CIK 0000886982 · US-GAAP