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The Goldman Sachs Group Income Statement 2025-2011 | GS
Brief overview of revenue and earnings at The Goldman Sachs Group
The overview follows changes across a five-year period. Revenue at The Goldman Sachs Group moved from 31.2 billion dollars in 2015 to 44.6 billion dollars in 2020. The cumulative result was +42.6%, corresponding to roughly 7.4% per year. The direction is positive, but the growth rate is not particularly high.
The net result moved from $6.1 billion to $9.5 billion, or +55.5%. Net income grew faster than revenue, indicating improved overall efficiency.
Over the period, capitalization shifted from $72.5 billion to $93.9 billion (+29.5%). Market value supported the favorable financial trajectory.
Conclusion
The results contain more positive signals than causes for concern. The constructive conclusion rests on revenue expansion and improving net profitability. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement The Goldman Sachs Group
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
287 B | 199 B | 133 B | 114 B | 123 B | 93.9 B | 83.8 B | 71 B | 98.9 B | 100 B | 72.5 B | 79.1 B | 78.2 B | 73 B | 57.6 B |
Shares |
313 M | 328 M | 341 M | 352 M | 350 M | 356 M | 372 M | 385 M | 402 M | 427 M | 449 M | 459 M | 471 M | 496 M | 525 M |
Historical Prices |
919 | 608 | 391 | 324 | 351 | 263 | 226 | 184 | 246 | 208 | 144 | 152 | 143 | 127 | 94.2 |
Net Income |
17.2 B | 14.3 B | 8.52 B | 11.3 B | 21.6 B | 9.46 B | 8.47 B | 10.5 B | 4.29 B | 7.4 B | 6.08 B | 8.48 B | 8.04 B | 7.48 B | 4.44 B |
Revenue |
- | - | - | - | - | 44.6 B | 36.5 B | 33.4 B | 29.5 B | 28.1 B | 31.2 B | 32 B | 31.9 B | 32 B | 28.8 B |
Cost of Revenue |
18.9 B | 16.7 B | 15.5 B | 15.1 B | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
- | - | - | - | - | 44.6 B | - | - | - | - | - | - | - | - | - |
Interest Expense |
66.8 B | 73.3 B | 62.2 B | 21.3 B | 5.65 B | 8.94 B | 17.4 B | 15.9 B | 10.2 B | 7.1 B | 5.39 B | 5.56 B | 6.67 B | 7.5 B | 7.98 B |
EBITDA |
2.18 B | 2.39 B | 4.86 B | 2.46 B | 2.02 B | 1.9 B | 1.7 B | 1.33 B | 1.15 B | - | - | - | - | - | - |
Operating Expenses |
- | - | - | - | - | - | 26 B | 24.1 B | 21.6 B | 20.5 B | 25 B | 22.2 B | 22.5 B | 23 B | 22.6 B |
General and Administrative Expenses |
- | - | - | - | - | 13.3 B | 12.4 B | 12.3 B | 11.9 B | 11.6 B | 12.7 B | 12.7 B | 12.8 B | 13.5 B | 12.8 B |
All numbers in USD currency
Quarterly Income Statement The Goldman Sachs Group
| 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
310 M | 314 M | 321 M | 311 M | 325 M | 330 M | 336 M | - | 339 M | 342 M | 347 M | 335 M | 353 M | 355 M | 351 M | 334 M | 348 M | 351 M | 357 M | 344 M | 356 M | 356 M | 358 M | 347 M | 370 M | 374 M | 380 M | 368 M | 385 M | 388 M | 389 M | 375 M | 398 M | 406 M | 412 M | 393 M | 422 M | 432 M | 441 M | 419 M | 449 M | 451 M | 453 M | 430 M | 456 M | 462 M | 469 M | 446 M | 463 M | 473 M | 482 M | 465 M | 491 M | 502 M | 511 M | 485 M | 518 M | 532 M | 541 M |
Net Income |
4.1 B | 3.72 B | 4.74 B | - | 2.99 B | 3.04 B | 4.13 B | - | 2.06 B | 1.22 B | 3.23 B | - | 3.07 B | 2.93 B | 3.94 B | - | 5.38 B | 5.49 B | 6.84 B | - | 3.37 B | 373 M | 1.21 B | - | 1.88 B | 2.42 B | 2.25 B | - | 2.52 B | 2.56 B | 2.83 B | - | 2.13 B | 1.83 B | 2.26 B | - | 2.09 B | 1.82 B | 1.14 B | - | 1.43 B | 1.05 B | 2.84 B | - | 2.24 B | 2.04 B | 2.03 B | - | 1.52 B | 1.93 B | 2.26 B | - | 1.51 B | 962 M | 2.11 B | - | -393 M | 1.09 B | 2.74 B |
Cost of Revenue |
4.68 B | 4.68 B | 4.88 B | - | 4.12 B | 4.24 B | 4.58 B | - | 4.19 B | - | - | - | 3.61 B | - | 4.08 B | - | 3.17 B | 5.26 B | 6.04 B | - | 3.12 B | 4.48 B | 3.24 B | - | 2.73 B | 3.32 B | 3.26 B | - | 3.02 B | 3.4 B | 4.06 B | - | 3.17 B | 3.23 B | 3.29 B | - | 3.21 B | 3.33 B | 2.66 B | - | 2.35 B | 3.81 B | 4.46 B | - | 2.8 B | 3.92 B | 4.01 B | - | 2.38 B | 3.7 B | 4.34 B | - | 3.68 B | 2.92 B | 4.38 B | - | 1.58 B | 3.2 B | 5.23 B |
Interest Expense |
17 B | 16.7 B | 16.5 B | - | 19.1 B | 18.4 B | 18.2 B | - | 16.7 B | 15.2 B | 13.2 B | - | 6.51 B | 3.12 B | 1.38 B | - | 1.55 B | 1.31 B | 1.57 B | - | 1.85 B | 2.09 B | 3.44 B | - | 4.45 B | 4.69 B | 4.38 B | - | 4.2 B | 3.92 B | 3.31 B | - | 2.68 B | 2.43 B | 2.23 B | - | 1.78 B | 1.78 B | 1.46 B | - | 1.28 B | 1.49 B | 1.18 B | - | 1.25 B | 1.58 B | 1.56 B | - | 1.56 B | 1.84 B | 1.68 B | - | 1.79 B | - | - | - | - | - | - |
EBITDA |
531 M | 618 M | 506 M | - | 621 M | 646 M | 627 M | - | 1.51 B | - | - | - | 666 M | - | 492 M | - | 509 M | 520 M | 498 M | - | 468 M | 499 M | 437 M | - | 473 M | 399 M | 368 M | - | 317 M | 335 M | 299 M | - | 280 M | 265 M | 257 M | - | 247 M | 245 M | 239 M | - | 222 M | 265 M | 219 M | - | 301 M | 294 M | 390 M | - | 280 M | 266 M | 302 M | - | 396 M | 76 M | 70 M | - | 84 M | 66 M | 57 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company The Goldman Sachs Group (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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