GOLDMAN SACHS GROUP INC

GS 10-Q · Q1 2026

GS Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Investment Banking Revenue 2,844 1,916 +48.4%
Investment Management 3,179 2,759 +15.2%
Brokerage Commissions Revenue 1,326 1,226 +8.2%
Market Making Net 5,461 5,723 -4.6%
Show Trading Activity By Type breakouts
Commodity 1,473 725 +103.2%
Credit 782 118 +562.7%
Equity 3,788 2,942 +28.8%
Fixed Income Interest Rate -2,505 4,410 -156.8%
Foreign Exchange 1,923 -2,472 +177.8%
Other Principal Transactions 862 543 +58.7%
Noninterest Income 13,672 12,167 +12.4%
Show Business Segments breakouts
Asset & Wealth Management 3,374 2,966 +13.8%
Global Banking & Markets 10,553 9,293 +13.6%
Platform Solutions -255 -92 -177.2%
Interest And Dividend Income Operating 20,637 19,383 +6.5%
Interest Expense Operating 17,082 16,488 +3.6%
Interest Income Expense Net 3,555 2,895 +22.8%
Show Business Segments breakouts
Asset & Wealth Management 704 745 -5.5%
Global Banking & Markets 2,185 1,448 +50.9%
Platform Solutions 666 702 -5.1%
Revenues Net Of Interest Expense 17,227 15,062 +14.4%
Show Business Segments breakouts
Asset & Wealth Management 4,078 3,711 +9.9%
Global Banking & Markets 12,738 10,741 +18.6%
Platform Solutions 411 610 -32.6%
Show Geography breakouts
Americas 10,416 9,866 +5.6%
Asia 3,044 1,705 +78.5%
EMEA 3,767 3,491 +7.9%
Provision For Loan Lease And Other Losses 315 287 +9.8%
Show Business Segments breakouts
Asset & Wealth Management 66 18 +266.7%
Global Banking & Markets 248 66 +275.8%
Platform Solutions 1 203 -99.5%
Labor And Related Expense 5,412 4,876 +11.0%
Show Business Segments breakouts
Asset & Wealth Management 1,828 1,643 +11.3%
Global Banking & Markets 3,424 3,110 +10.1%
Platform Solutions 160 123 +30.1%
Transaction Based 2,515 1,850 +35.9%
Business Development 186 156 +19.2%
Communications And Information Technology 583 506 +15.2%
Depreciation And Amortization 495 506 -2.2%
Show Business Segments breakouts
Asset & Wealth Management 185 190 -2.6%
Global Banking & Markets 291 288 +1.0%
Platform Solutions 19 28 -32.1%
Occupancy Net 254 233 +9.0%
Professional Fees 379 424 -10.6%
Other Noninterest Expense 602 577 +4.3%
Noninterest Expense 10,426 9,128 +14.2%
Show Business Segments breakouts
Asset & Wealth Management 3,082 2,856 +7.9%
Global Banking & Markets 7,009 5,924 +18.3%
Platform Solutions 335 348 -3.7%
Income Before Taxes 6,486 5,647 +14.9%
Show Business Segments breakouts
Asset & Wealth Management 930 837 +11.1%
Global Banking & Markets 5,481 4,751 +15.4%
Platform Solutions 75 59 +27.1%
Show Geography breakouts
Americas 4,119 3,725 +10.6%
Asia 903 458 +97.2%
EMEA 1,464 1,464 0.0%
Income Tax Expense (Benefit) 856 909 -5.8%
Net Income 5,630 4,738 +18.8%
Show Business Segments breakouts
Asset & Wealth Management 807 702 +15.0%
Global Banking & Markets 4,758 3,986 +19.4%
Platform Solutions 65 50 +30.0%
Show Equity Components breakouts
Retained Earnings 5,630 4,738 +18.8%
Preferred Stock Dividends Income Statement Impact 227 155 +46.5%
Net Income Loss Available To Common Stockholders Basic 5,403 4,583 +17.9%
Show Business Segments breakouts
Asset & Wealth Management 770 674 +14.2%
Global Banking & Markets 4,574 3,864 +18.4%
Platform Solutions 59 45 +31.1%
EPS (Basic) 17.74 14.25 +24.5%
EPS (Diluted) 17.55 14.12 +24.3%
Wtd Avg Shares (Basic) 303.8 320.8 -5.3%
Wtd Avg Shares (Diluted) 308 324.5 -5.1%
Interest Income 2,068 1,785 +15.9%
Comprehensive Income 5,978 5,371 +11.3%
Gain Loss On Investments (Q)
Show Derivative Risk breakouts
Foreign Currency Hedged Investments · Designated As Hedging Instrument -185 175 -205.7%
Foreign Currency Hedges - Investments · Designated As Hedging Instrument 6 -9 +166.7%
Foreign Exchange Forward · Designated As Hedging Instrument 191 -184 +203.8%
Interest Rate Contract · Designated As Hedging Instrument 324 -380 +185.3%
Interest Rate Hedges - Investments · Designated As Hedging Instrument -10 16 -162.5%
Interest Rate Swaps Hedged Investments · Designated As Hedging Instrument -334 396 -184.3%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 179,530 167,408 +7.2%
Show Financial Instrument breakouts
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 72
Show Counterparty Name breakouts
Central banks 141.47 138.32 +2.3%
Non-Current Assets
Total Assets 2,060,180 1,766,181 +16.6%
Show Business Segments breakouts
Asset & Wealth Management 211,271 206,932 +2.1%
Global Banking & Markets 1,820,273 1,497,785 +21.5%
Platform Solutions 28,636 61,464 -53.4%
Show Financial Instrument breakouts
Corporate debt and other asset-backed · Variable Interest Entity Not Primary Beneficiary 5,138 5,324 -3.5%
Corporate debt and other asset-backed · Variable Interest Entity Primary Beneficiary 40 40 0.0%
Mortgage Backed Securities · Variable Interest Entity Not Primary Beneficiary 6,597 5,672 +16.3%
Principal-protected notes · Variable Interest Entity Primary Beneficiary 72 464 -84.5%
Real estate and other investing · Variable Interest Entity Primary Beneficiary 723
Tax credit, credit-related, real estate and other investing · Variable Interest Entity Not Primary Beneficiary 7,198
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 835 795 +5.0%
Show Consolidated Entities breakouts
Variable Interest Entity Not Primary Beneficiary 18,933 17,885 +5.9%
Property, Plant & Equipment 7,534
Show Property Plant And Equipment By Type breakouts
Building And Building Improvements 6.51
Operating Lease Right-of-Use Assets 1,970 1,965 +0.3%
Goodwill 6,590
Show Business Segments breakouts
Asset management 2,098
Equities 2,647
Global Markets Fixed Income Currency and Commodities [Member] 269
Investment banking 267
Wealth Management [Member] 1,309
Show Business Acquisition breakouts
Industry Ventures 655
Other Assets
Federal Funds Sold And Securities Purchased Under Agreements To Resell 152,875 186,365 -18.0%
Securities Borrowed 233,083 211,888 +10.0%
Other Receivables 209,484 165,086 +26.9%
Show Financial Instrument breakouts
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 1 361 -99.7%
Trading Securities 758,018
Show Financial Instrument breakouts
Derivative 64,052
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 92
Trading Cash Instruments Fair Value Disclosure [Member] 693,966
Show Pledged Status breakouts
Asset Pledged As Collateral With Right · Securities Sold Under Agreements To Repurchase 181,306
Asset Pledged As Collateral Without Right · Securities Sold Under Agreements To Repurchase 212,719
Other Investments 25,731 26,026 -1.1%
Notes Receivable Net 252,849
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level12 And3 · Amortized Cost 225,615
Fair Value Inputs Level2 · Amortized Cost 119,478
Fair Value Inputs Level3 · Amortized Cost 106,137
Show Fair Value Measurement Basis [Axis] breakouts
Amortized Cost 225,358
Amortized Cost · Carrying Reported Amount Fair Value Disclosure 225,358
Fair Value 4,379
Held For Sale 23,112
Show Pledged Status breakouts
Asset Pledged As Collateral Without Right · Securities Sold Under Agreements To Repurchase 12,865
Other Assets 36,707 33,910 +8.2%
Show Financial Instrument breakouts
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 41 70 -41.4%
Show Pledged Status breakouts
Asset Pledged As Collateral Without Right · Securities Sold Under Agreements To Repurchase 1,817 1,127 +61.2%
Non-Current Liabilities
Total Liabilities 1,937,398 1,641,881 +18.0%
Show Financial Instrument breakouts
Corporate debt and other asset-backed · Variable Interest Entity Not Primary Beneficiary 365 413 -11.6%
Corporate debt and other asset-backed · Variable Interest Entity Primary Beneficiary 294 248 +18.5%
Principal-protected notes · Variable Interest Entity Primary Beneficiary 355 345 +2.9%
Real estate and other investing · Variable Interest Entity Primary Beneficiary 475
Tax credit, credit-related, real estate and other investing · Variable Interest Entity Not Primary Beneficiary 2,667
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 1,124 779 +44.3%
Show Consolidated Entities breakouts
Variable Interest Entity Not Primary Beneficiary 3,032 2,492 +21.7%
Other Liabilities
Available For Sale Securities Debt Securities 137,014 90,667 +51.1%
Show Financial Instrument breakouts
Foreign Government Debt Securities 10,528 4,912 +114.3%
Mortgage Backed Securities Issued By US Government Sponsored Enterprises 3,171
US Treasury And Government 123,315 85,755 +43.8%
Debt Securities Held To Maturity Amortized Cost After Allowance For Credit Loss 74,889 79,036 -5.2%
Show Investment Type breakouts
Asset Backed Securities 162 200 -19.0%
Mortgage Backed Securities Issued By US Government Sponsored Enterprises 22,232 24,338 -8.7%
US Government Debt Securities 52,495 54,498 -3.7%
Deposits 561,263 471,134 +19.1%
Securities Sold Under Agreements To Repurchase 259,452 248,997 +4.2%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level2 259,452 248,997 +4.2%
Securities Loaned 55,278 56,304 -1.8%
Other Secured Financings 36,336 24,795 +46.5%
Show Financial Instrument breakouts
Short Term Debt 25,296 18,038 +40.2%
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 631 576 +9.5%
Show Currency breakouts
Other Currency 14,943 11,161 +33.9%
USD 21,393 13,634 +56.9%
Show Recourse Status breakouts
Nonrecourse 4.28 3.87 +10.6%
Customer And Other Payables 293,039 253,799 +15.5%
Show Financial Instrument breakouts
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 7
Trading Liabilities 312,220 233,188 +33.9%
Show Financial Instrument breakouts
Derivative 90,200 73,598 +22.6%
Trading Cash Instruments Fair Value Disclosure [Member] 222,020 159,590 +39.1%
Unsecured Short Term Borrowings Including Current Portion Of Unsecured Long Term Borrowings 80,878 70,974 +14.0%
Show Financial Instrument breakouts
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 5 5 0.0%
Unsecured Long Term Debt 315,426
Show Financial Instrument breakouts
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 13
Show Currency breakouts
Other Currency 85,356
USD 230,070
Show Fair Value By Measurement Basis breakouts
Estimate Of Fair Value Fair Value Disclosure 191.14
Show Long-Term Debt Type breakouts
Unsecured Debt 315,426
Other Liabilities 23,506 19,794 +18.8%
Show Financial Instrument breakouts
Total consolidated VIEs · Variable Interest Entity Primary Beneficiary 468 176 +165.9%
Stockholders' Equity
Preferred Stock Value 13,703
Common Stock 9 9 0.0%
Share Based Awards 5,798 5,199 +11.5%
Additional Paid-In Capital 61,786 61,832 -0.1%
Retained Earnings 169,316 157,019 +7.8%
Accumulated Other Comprehensive Income -1,912 -2,069 +7.6%
Treasury Stock Value -125,918 -112,843 -11.6%
Total Stockholders' Equity 122,782 124,300 -1.2%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -495 -518 +4.4%
Accumulated Gain Loss Net Cash Flow Hedge Parent -22 5 -540.0%
Accumulated Net Unrealized Investment Gain Loss -650 -552 -17.8%
Accumulated Other Comprehensive Income -1,912 -2,069 +7.6%
Accumulated Translation Adjustment -831 -850 +2.2%
Additional Paid In Capital 61,786 61,832 -0.1%
Common Stock 9 9 0.0%
Debt valuation adjustment 86 -154 +155.8%
Preferred Stock 13,703 15,153 -9.6%
Retained Earnings 169,316 157,019 +7.8%
Share-based awards 5,798 5,199 +11.5%
Stock held in treasury, at cost -125,918 -112,843 -11.6%
Total Liabilities & Equity 2,060,180 1,766,181 +16.6%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Deferred Income Taxes -47 154 -130.5%
Stock-Based Compensation 2,530 2,417 +4.7%
Increase Decrease In Customer And Other Receivables And Payables Net 36,161 -907 +4086.9%
Increase Decrease In Collateralized Transactions Excluding Other Secured Financings Net -14,041 -48,685 +71.2%
Increase Decrease In Financial Instruments Used In Operating Activities -104,035 -21,266 -389.2%
Increase Decrease In Trading Liabilities 48,637 29,640 +64.1%
Increase Decrease In Loans Held For Sale -2,008 -501 -300.8%
Increase Decrease In Other Operating Capital Net -5,505 -3,613 -52.4%
Net Cash from Operations -31,868 -37,230 +14.4%
Investing Activities
Capital Expenditures -565 -499 -13.2%
Proceeds From Sale Of Property Plant And Equipment 63 145 -56.6%
Payments For Proceeds From Businesses And Interest In Affiliates -359
Purchases of Investments -62,327 -32,532 -91.6%
Proceeds From Sale Of Available For Sale Securities Debt 24,194 22,889 +5.7%
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities 90
Payments To Acquire Held To Maturity Securities -9,289 -4,595 -102.2%
Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities 4,613 4,572 +0.9%
Payments To Acquire Other Investments -2,605 -2,280 -14.3%
Proceeds From Sale And Maturity Of Other Investments 2,885 2,523 +14.3%
Payments For Proceeds From Loans And Leases -13,007 -12,970 -0.3%
Net Cash from Investing -56,307 -22,747 -147.5%
Financing Activities
Proceeds From Repayments Of Unsecured Short Term Debt 7,232 2,932 +146.7%
Proceeds From Repayments Of Other Secured Short Term Debt 7,234 -3,821 +289.3%
Proceeds From Issuance Of Secured Debt 651 460 +41.5%
Repayments Of Secured Debt -73 -600 +87.8%
Proceeds From Issuance Of Unsecured Debt 58,244 28,594 +103.7%
Repayments Of Unsecured Debt -20,402 -16,540 -23.3%
Payments For Proceeds From Derivative Instrument Financing Activities 1,239 906 +36.8%
Increase Decrease In Deposits 60,819 36,332 +67.4%
Payments For Repurchase Of Preferred Stock And Preference Stock -1,450
Share Repurchases -5,000 -4,360 -14.7%
Tax Withholding for Share Compensation -2,605 -1,851 -40.7%
Payments Of Dividends -1,588 -1,115 -42.4%
Proceeds From Payments For Other Financing Activities -7 -6 -16.7%
Net Cash from Financing 104,294 42,826 +143.5%
Supplemental
Interest Paid 18,027 15,954 +13.0%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations -848 2,467 -134.4%
Net Change in Cash 15,271 -14,684 +204.0%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 179,530 167,408 +7.2%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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