Goldman Sachs Financials
This page shows Goldman Sachs (GSBD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Earnings are volatile, and operating cash generation is lumpy against a debt-funded balance sheet.
FY2024's net income of$63M converted to just$2M of operating cash flow. In FY2025,$119M of net income coincided with$326M of operating cash flow, showing cash conversion is episodic rather than a steady earnings proxy.
Total assets fell from
The recovery in return on equity to
Financial Health Signals
Goldman Sachs does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Goldman Sachs passes 5 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass.
For every $1 of reported earnings, Goldman Sachs generates $2.73 in operating cash flow ($325.7M OCF vs $119.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Goldman Sachs reported $119.3M in net income in fiscal year 2025. This represents an increase of 89.7% from the prior year.
Goldman Sachs earned $1.03 per diluted share (EPS) in fiscal year 2025. This represents an increase of 87.3% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Goldman Sachs held $43.2M in cash against $1.9B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Goldman Sachs's ROE was 8.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.4 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Goldman Sachs spent $52.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
GSBD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Income Tax | N/A | N/A | N/A | $907K+0.1% | $906K-31.5% | $1.3M | N/A | $1.5M |
| Net Income | $23.7M+273.7% | -$13.6M | N/A | $24.7M-37.1% | $39.3M+24.5% | $31.6M | N/A | $37.1M |
| EPS (Diluted) | $0.21+275.0% | -$0.12-157.1% | $0.21-4.5% | $0.22-35.3% | $0.34+25.9% | $0.27-18.2% | $0.33+3.1% | $0.32 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense.
GSBD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.3B-1.6% | $3.3B-1.2% | $3.4B-0.1% | $3.4B-0.7% | $3.4B-2.7% | $3.5B-2.8% | $3.6B+1.6% | $3.5B |
| Cash & Equivalents | $14.4M-65.5% | $41.9M-3.1% | $43.2M-62.5% | $115.2M+6.6% | $108.0M+30.5% | $82.8M+33.9% | $61.8M+16.7% | $53.0M |
| Total Liabilities | $1.9B-2.2% | $2.0B+0.6% | $2.0B+1.6% | $1.9B+1.8% | $1.9B-3.0% | $2.0B-3.7% | $2.0B+3.6% | $2.0B |
| Long-Term Debt | $1.9B-2.5% | $1.9B+1.3% | $1.9B+1.8% | $1.8B+2.4% | $1.8B-3.8% | $1.9B-3.0% | $1.9B+2.6% | $1.9B |
| Total Equity | $1.4B-0.9% | $1.4B-3.7% | $1.4B-2.2% | $1.5B-3.9% | $1.5B-2.2% | $1.5B-1.6% | $1.6B-0.8% | $1.6B |
| Retained Earnings | -$522.1M-2.4% | -$509.7M-11.6% | -$456.7M-0.5% | -$454.3M-8.0% | -$420.9M-5.6% | -$398.4M-6.6% | -$373.7M-5.3% | -$355.0M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.
GSBD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $53.6M+414.1% | $10.4M+134.9% | -$29.9M-163.3% | $47.2M-72.9% | $174.5M+30.3% | $133.9M+920.1% | $13.1M-87.4% | $104.1M |
| Financing Cash Flow | -$81.1M-594.5% | -$11.7M+72.3% | -$42.1M-5.2% | -$40.1M+73.2% | -$149.2M-32.0% | -$113.0M-2631.9% | -$4.1M+96.3% | -$112.8M |
| Share Buybacks | N/A | N/A | $15.0M-43.3% | $26.5M | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid.
GSBD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 1.7%+2.7pp | -1.0% | N/A | 1.7%-0.9pp | 2.6%+0.6pp | 2.0% | N/A | 2.3% |
| Return on Assets | 0.7%+1.1pp | -0.4% | N/A | 0.7%-0.4pp | 1.1%+0.3pp | 0.9% | N/A | 1.1% |
| Debt-to-Equity | 1.360.0x | 1.39+0.1x | 1.32+0.1x | 1.27+0.1x | 1.190.0x | 1.210.0x | 1.220.0x | 1.18 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, FCF Margin.
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Where Goldman Sachs Ranks
Frequently Asked Questions
Is Goldman Sachs profitable?
Yes, Goldman Sachs (GSBD) reported a net income of $119.3M in fiscal year 2025.
How much debt does Goldman Sachs have?
As of fiscal year 2025, Goldman Sachs (GSBD) had $43.2M in cash and equivalents against $1.9B in long-term debt.
What is Goldman Sachs's return on equity (ROE)?
Goldman Sachs (GSBD) has a return on equity of 8.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Goldman Sachs's operating cash flow?
Goldman Sachs (GSBD) generated $325.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Goldman Sachs's total assets?
Goldman Sachs (GSBD) had $3.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Goldman Sachs's debt-to-equity ratio?
Goldman Sachs (GSBD) had a debt-to-equity ratio of 1.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Goldman Sachs's return on assets (ROA)?
Goldman Sachs (GSBD) had a return on assets of 3.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Goldman Sachs's Piotroski F-Score?
Goldman Sachs (GSBD) has a Piotroski F-Score of 5 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Goldman Sachs's earnings high quality?
Goldman Sachs (GSBD) has an earnings quality ratio of 2.73x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.