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GOLDMAN SACHS GROUP INCGS

Sector
Other
Industry
Security Brokers, Dealers & Flotation Companies
Exchange
NYSE

Stock Price $GS

Latest filings

You are here#7 of 58 in Financials by market cap

Filing record · 2016–202610-K1310-Q328-K228

GS filed 13 annual reports (10-K), 32 quarterly reports (10-Q) and 228 current reports (8-K) between 2016 and 2026.

  1. FY2018 annual report10-K · Feb ’19Feb ’19
  2. Leadership change8-K · May ’21May ’21
  3. Leadership change8-K · Apr ’25Apr ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Net Income Trend

Year-over-year comparison from 10-K annual reports

  19. $17.18B
YoY changeLargest recent move+144.0%in FY18Latest +20.3%

1 older move runs past ±150% (largest +476.4%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All GS Financial Metrics41 metrics

Income Statement8

Balance Sheet16

Cash Flow12

Per Share5

02—Overview

GOLDMAN SACHS GROUP INC Financial Overview 2021–2025

Updated Jul 10, 2026

Goldman Sachs engineered a massive profitability rebound, driving net earnings up 20% to $17.18 billiona in FY2025 as it finally shook off the costly overhang of its consumer banking experiment. By aggressively winding down retail distractions like the Apple Card and GreenSky, the firm has refocused capital on its traditional powerhouse franchises, returning to a strategy of structurally higher, durable returns.

The underlying financials reflect a volatile but ultimately successful transition. Net revenues experienced a dramatic round-trip, falling from a pandemic-fueled peak of $59.34 billionb in FY2021 down to a trough of $46.25 billion in FY2023, before climbing back to $58.28 billion in FY2025. This recovery was fueled by the core Global Banking & Markets segment, where investment banking fees surged 42% year-over-year in Q3 2025. Simultaneously, the strategic exit from the Apple Card program triggered a massive $2.48 billion release of loan loss reserves, heavily padding the bottom line and keeping the firm’s operating efficiency ratio near a highly profitable 60.6%.

Investors have aggressively repriced this return to form. The firm repurchased $3.00 billionc in common stock in a single quarter during FY2025, signaling management's confidence in the restructuring and a renewed commitment to shareholder deployment. By the close of FY2025, the market valued the stock at $879.00 per share, representing a 17.1x price-to-earnings multiple on its $51.32 in diluted EPS.

Recent Developments (Q4 2025 and Q1 2026)

Goldman Sachs accelerated its momentum into Q1 2026, delivering a 19% year-over-year jump in net earnings to $5.63 billiond. Total revenues expanded 14% to $17.23 billion, propelled by a 19% surge in the Global Banking & Markets segment. This strong operational leverage pushed the firm's return on equity to 19.8%. Management maintained aggressive capital distributions, returning $6.38 billion to shareholders during the quarter while holding a steady 13.3% CET1 capital ratio.

At the executive level, Chief Legal Officer Kathryn H. Ruemmler announced her retirement effective June 30, 2026. Bulls argue the concurrent 10% revenue growth in Asset & Wealth Management proves the firm is successfully building a durable, fee-based revenue engine. Bears caution that the stock traded at a premium 22.8x earnings as of the Q1 2026 reporting date, pricing in flawless execution and exposing investors to downside risk if broader capital market activity stalls.

What to watch: executive appointments succeeding the outgoing Chief Legal Officer; sustained revenue momentum in the Asset & Wealth Management division.

03—Filings

Recent SEC Filings

  1. 8-KGOLDMAN SACHS GROUP INC 8-K Report, Bylaw Amendment (Aug 11, 2026)Goldman Sachs Group, Inc. (GS) has filed an 8-K report on August 11, 2026, detailing amendments to its corporate charter primarily related to its preferred stock. The company has formally eliminated the provisions for its 3.65% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series U, following the redemption of all outstanding shares of this series on August 10, 2026. This action simplifies the company's capital structure by removing a specific preferred stock class. Concurrently, Goldman Sachs filed an amended Restated Certificate of Incorporation to reflect both the elimination of the Series U Preferred Stock and the terms of its newly established 6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA. This filing indicates a strategic adjustment in the company's preferred equity offerings, with the issuance of Series AA preferred stock and the retirement of Series U preferred stock. Investors should note these changes as they impact the company's outstanding capital and future dividend obligations.
  2. 8-KGOLDMAN SACHS GROUP INC 8-K Report, Rights Modification (Jul 27, 2026)Goldman Sachs Group, Inc. (GS) has filed an 8-K to announce the creation and terms of its new 6.500% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA. This new preferred stock has a liquidation preference of $25,000 per share. The issuance of this Series AA Preferred Stock introduces specific restrictions on Goldman Sachs' ability to pay dividends on or repurchase its common stock, contingent upon the timely payment of dividends on the Series AA Preferred Stock. This filing is important for investors as it details a new class of preferred equity that ranks senior to common stock in terms of dividend payments and liquidation preference. The dividend rate is fixed initially but subject to reset, and the non-cumulative nature means missed dividends are not owed to holders. The associated restrictions on common stock actions highlight the priority given to preferred stockholders, which could impact future shareholder returns on common equity if dividend obligations on the preferred stock are not met.
  3. 8-KGOLDMAN SACHS GROUP INC 8-K Report, Exhibit Filing (Jul 21, 2026)The Goldman Sachs Group, Inc. (GS) filed a Form 8-K on July 21, 2026, primarily to report the issuance of new debt securities. This filing confirms the successful offering of a substantial $10 billion in aggregate principal amount across three series of notes, issued under the company's existing shelf registration statement. The issuance includes $3.5 billion in 5.240% Fixed/Floating Rate Notes due 2032, $3.5 billion in 5.655% Fixed/Floating Rate Notes due 2037, and $3 billion in 6.215% Fixed/Floating Rate Notes due 2057. This debt issuance represents a significant capital-raising activity for Goldman Sachs, bolstering its liquidity and financial resources. The specific interest rates and maturity dates offer diversification in the company's debt profile. Investors and stakeholders should note that the filing includes legal opinions and consents from Sullivan & Cromwell LLP, as well as iXBRL formatted data for enhanced reporting transparency. This action is standard for large financial institutions managing their capital structure and funding needs.
  4. 8-KGOLDMAN SACHS GROUP INC 8-K Report, Corporate Update (Jul 20, 2026)Goldman Sachs Group, Inc. (GS) has announced a proposed public offering of new Series AA Fixed-Rate Reset Non-Cumulative Preferred Stock. This offering, structured as depositary shares, is designed to raise capital, with a significant portion of the net proceeds earmarked for the redemption of its outstanding Series U Fixed-Rate Reset Non-Cumulative Preferred Stock. The redemption of the Series U Preferred Stock is contingent upon the successful pricing and closing of the new offering, which is subject to prevailing market conditions and other factors. Investors should note that the offering and potential redemption are not guaranteed. The company has filed a preliminary prospectus supplement detailing the offering, but this filing does not constitute a notice of redemption for the Series U Preferred Stock, nor an offer to sell the new securities. The decision to redeem and the exact terms will be communicated via press release and formal redemption notice if and when they are finalized.
  5. 8-KGOLDMAN SACHS GROUP INC 8-K Report, Financial Results (Jul 14, 2026)Goldman Sachs Group, Inc. (GS) has filed an 8-K report on July 14, 2026, to disclose its financial results for the second quarter ended June 30, 2026. The report primarily references a press release (Exhibit 99.1) containing the detailed earnings information, which is incorporated by reference and considered 'filed' for regulatory purposes. Investors should refer to this press release for specific performance metrics and financial condition details. In conjunction with the earnings release, GS also provided a presentation (Exhibit 99.2) for a conference call scheduled for the same day. This presentation, being furnished under Regulation FD, offers insights into the firm's outlook and related matters. While not considered 'filed' in the same manner as the press release, it provides valuable context for understanding management's perspective on the company's performance and future strategy.
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04—See also

Related Companies

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