The Goldman Sachs Group Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest and Dividend Income	80,373	81,397	68,515	29,024	12,120
Total Interest Expense	66,814	73,341	62,164	21,346	5,650
Net Interest Income	13,559	8,056	6,351	7,678	6,470
Brokerage Commission	4,042	4,086	3,789	4,034	3,590
Trading & Principal Transactions	19,585	23,036	20,364	19,288	26,972
Asset Management Fee	11,749	10,596	9,532	9,005	8,171
Underwriting & Investment Banking Fee	9,348	7,738	6,218	7,360	14,136
Revenue Before Loan Losses	58,283	53,512	46,254	47,365	59,339
Provision for Loan Losses	-1,113	1,348	1,028	2,715	357
Revenue	59,396	52,164	45,226	44,650	58,982
Revenue Growth (YoY)	13.86%	15.34%	1.29%	-24.30%	42.26%
Salaries & Employee Benefits	18,906	16,706	15,499	15,148	17,719
Cost of Services Provided	13,605	11,986	10,922	10,845	9,465
Other Operating Expenses	2,851	2,683	2,681	2,716	2,739
Total Operating Expenses	37,544	33,539	32,380	30,850	31,795
Operating Income	21,852	18,625	12,846	13,800	27,187
EBT Excluding Unusual Items	21,852	18,625	12,846	13,800	27,187
Impairment of Goodwill	-	-	-504	-	-
Asset Writedown	-	-228	-1,074	-314	-143
Other Unusual Items	-	-	-529	-	-
Pretax Income	21,852	18,397	10,739	13,486	27,044
Income Tax Expense	4,676	4,121	2,223	2,225	5,409
Net Income	17,176	14,276	8,516	11,261	21,635
Preferred Dividends & Other Adjustments	876	801	660	550	519
Net Income to Common	16,300	13,475	7,856	10,711	21,116
Net Income Growth	20.31%	67.64%	-24.38%	-47.95%	128.72%
Shares Outstanding (Basic)	313	328	341	352	351
Shares Outstanding (Diluted)	318	334	346	358	356
Shares Change (YoY)	-4.80%	-3.53%	-3.44%	0.65%	-1.25%
EPS (Basic)	52.13	41.07	23.05	30.42	60.25
EPS (Diluted)	51.32	40.54	22.87	30.06	59.45
EPS Growth	26.58%	77.31%	-23.93%	-49.44%	140.25%
Free Cash Flow	-	-15,303	-14,903	4,960	1,631
Free Cash Flow Per Share	-	-45.87	-43.10	13.85	4.58
Dividend Per Share	14.000	11.500	10.500	9.000	6.500
Dividend Growth	21.74%	9.52%	16.67%	38.46%	30.00%
Operating Margin	36.79%	35.70%	28.40%	30.91%	46.09%
Profit Margin	27.44%	25.83%	17.37%	23.99%	35.80%
Free Cash Flow Margin	-	-29.34%	-32.95%	11.11%	2.77%
Effective Tax Rate	21.40%	22.40%	20.70%	16.50%	20.00%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.