On asset and wealth management:
Our Business Segments We manage and report our activities in three business segments: Global Banking & Markets, Asset & Wealth Management and Platform Solutions.
GOLDMAN SACHS GROUP INC (GS) single-company analysis
This page is a descriptive assembly from a frozen evidence pack of public SEC filing excerpts and verified SEC companyfacts metrics. It is not a rating, recommendation, endorsement, forecast, valuation, or investment advice. Filer viewpoints are attributed to the filer and figures are as of their cited filing dates.
Informational only - not investment advice. See Disclaimer.
Back to GS company profile. Existing company-page SVG figures remain the source for financial time-series context.
Business & segments
On products and services:
As a financial intermediary, our job is to match the capital of our investing clients, who aim to grow the savings of millions of people, with the needs of our public and private sector clients, who need financing to generate growth, create jobs and deliver products and services.
Financial profile
The values below are templated from verified SEC companyfacts-derived facts. The embedded SVG figures show selected annual series from the same facts.
Reported revenue: 58,283,000,000
Net margin: 29.47%
Free cash flow: -47,218,000,000
Revenue scale is shown from verified SEC companyfacts. Revenue: 58,283,000,000
Net margin is shown from verified SEC companyfacts. Net margin: 29.47%
Free cash flow is computed from verified operating cash flow and capital expenditure facts. Free cash flow: -47,218,000,000
Capital expenditures are shown as reported payment magnitude from verified SEC companyfacts. Capital expenditures: 2,064,000,000
Dividends paid are shown as reported cash outflow magnitude from verified SEC companyfacts. Dividends paid: 5,277,000,000
Share buybacks are shown as reported cash outflow magnitude from verified SEC companyfacts. Share buybacks: 12,360,000,000
| Metric | Value | Fiscal year | Period end | Source |
|---|---|---|---|---|
| Capital expenditures | 2,064,000,000 | 2025 | 2025-12-31 | USD |
| Dividends paid | 5,277,000,000 | 2025 | 2025-12-31 | USD |
| Free cash flow | -47,218,000,000 | 2025 | 2025-12-31 | USD |
| Liabilities / equity | 13.48 | 2025 | 2025-12-31 | Ratio |
| Net income | 17,176,000,000 | 2025 | 2025-12-31 | USD |
| Net margin | 29.47% | 2025 | 2025-12-31 | Percent |
| Operating cash flow | -45,154,000,000 | 2025 | 2025-12-31 | USD |
| Revenue | 58,283,000,000 | 2025 | 2025-12-31 | USD |
Stated strategy
Key idiosyncratic risks
On interest rates and spreads:
Our cost of obtaining long-term unsecured funding is directly related to our credit spreads (the amount in excess of the interest rate of benchmark securities that we need to pay).
Recent developments
On operating-expense movement:
Our efficiency ratio (total operating expenses divided by total net revenues) was 64.4% for 2025, compared with 63.1% for 2024.
On net revenue movement:
Net revenues were $58.28 billion for 2025, 9% higher than 2024, reflecting higher net revenues in Global Banking & Markets, partially offset by significantly lower net revenues in Platform Solutions.