Summary
Goldman Sachs Group, Inc. reported robust performance for the year ended December 31, 2025, with net earnings of $17.18 billion, a significant increase from $14.28 billion in 2024. Diluted earnings per share (EPS) rose to $51.32 from $40.54 in the prior year, reflecting strong operational performance. Net revenues grew by 9% to $58.28 billion, driven by a notable increase in Global Banking & Markets, primarily in Equities and Investment Banking fees, and improved Fixed Income, Currency, and Commodities (FICC) intermediation. The firm continued its strategic narrowing of focus on consumer-related activities, notably agreeing to transition the Apple Card program. This strategic shift resulted in significantly lower net revenues in the Platform Solutions segment, offset by a reserve reduction in provision for credit losses related to the Apple Card portfolio. Asset & Wealth Management saw a slight increase in net revenues, driven by higher management and other fees, and private banking and lending activities, though partially offset by lower investment revenues. Goldman Sachs remains well-capitalized, with a CET1 capital ratio of 14.3% under Standardized Rules and 15.1% under Advanced Rules. The firm returned $16.78 billion in capital to shareholders through share repurchases and dividends in 2025, underscoring a commitment to shareholder value.
Key Highlights
- 1Net earnings increased by 20% to $17.18 billion in 2025.
- 2Diluted EPS grew to $51.32 in 2025, up from $40.54 in 2024.
- 3Net revenues rose 9% year-over-year to $58.28 billion.
- 4Global Banking & Markets segment showed strong growth, with Investment Banking fees up 21% and Equities net revenues up 23%.
- 5Platform Solutions segment experienced a significant revenue decline due to the strategic transition of the Apple Card program.
- 6Common Equity Tier 1 (CET1) capital ratio remained strong at 14.3% (Standardized) and 15.1% (Advanced).
- 7The firm returned $16.78 billion to shareholders in 2025 through dividends and share repurchases.