Goldman Sachs Statistics 2026
By Axis Intelligence Research
Co-author: Sarah Davis | Last updated: July 28, 2026 | License: CC BY 4.0
Goldman Sachs posted record second-quarter 2026 net revenues of $20.34 billion and diluted EPS of $20.98, capping a run of five consecutive quarterly beats on Wall Street consensus. For full-year 2025, the firm generated $58.28 billion in net revenues and $17.18 billion in net earnings — its strongest net earnings since 2021 — while returning $16.78 billion to shareholders, equivalent to 97.7 cents of every dollar earned.
Quick Answer: Goldman Sachs at a Glance (2026)
Goldman Sachs (NYSE: GS), founded in 1869, is the world’s preeminent M&A advisor and a top-five global active asset manager. According to Axis Intelligence Research analysis of Goldman Sachs SEC filings:
- FY2025 net revenues: $58.28 billion (+9% YoY)
- FY2025 net earnings: $17.18 billion (+20% YoY)
- Q2 2026 net revenues: $20.34 billion (record; +39% YoY)
- Assets under supervision (Q2 2026): $4.04 trillion (record)
- #1 M&A advisor for the 23rd consecutive year (2025 advisory revenues: $4.73 billion)
Key Findings
- According to Axis Intelligence Research analysis of Goldman Sachs SEC filings, the firm generated $58.28 billion in net revenues for full-year 2025, a 9% increase from $53.51 billion in 2024, driven by an 18% surge in Global Banking & Markets revenues to $41.45 billion.
- According to Axis Intelligence Research calculations, Goldman Sachs returned $16.78 billion to common shareholders in 2025 — equal to 97.7% of net earnings — comprising $12.36 billion in share repurchases and $4.42 billion in dividends, the highest capital return ratio among the firm’s reported history since 2020.
- According to Axis Intelligence Research analysis of Goldman Sachs Q2 2026 earnings (SEC 8-K, July 14, 2026), assets under supervision reached a record $4.04 trillion at June 30, 2026, up 29% from $3.14 trillion at year-end 2024, fueled by record third-party alternatives fundraising of $59 billion in the quarter alone.
- According to Axis Intelligence Research Geographic Revenue Concentration Index (GRCI) calculations, Goldman Sachs’ geographic revenue mix is diversifying: the GRCI dropped from 4,794 in 2024 to 4,408 in Q2 2026, driven by Asia’s revenue share rising from 13% to 18% in six months, the fastest regional shift in the firm’s disclosed geographic history.
- According to Axis Intelligence Research analysis of Goldman Sachs 2025 annual report data, the firm’s revenue per employee reached $1.23 million in 2025, a 7% gain year over year, recovering from the 2022 trough of $977,000 per employee following a period of overcapitalization during the post-pandemic hiring cycle.
Goldman Sachs Revenue Statistics
How Much Revenue Does Goldman Sachs Generate?
Goldman Sachs reported total net revenues of $58.28 billion for the year ended December 31, 2025, per the firm’s 4Q25 earnings release filed with the SEC. That figure sits 9% above 2024’s $53.51 billion and roughly 60% above the $36.55 billion reported in 2019 — the firm’s Investor Day baseline year.
The 2025 revenue composition breaks down differently from any prior year. Global Banking & Markets contributed $41.45 billion, or 71.1% of the total, up from 65.5% in 2024. Asset & Wealth Management brought in $16.68 billion (28.6%). Platform Solutions, which bore the accounting impact of the Apple Card portfolio transfer, contributed just $151 million, versus $2.13 billion in 2024. Stripping out that one-time Apple Card markdown, the underlying business grew faster than the headline number suggests.
Goldman Sachs Annual Net Revenue (2019–2025)
| Year | Net Revenue ($B) | YoY Change | Source |
|---|---|---|---|
| 2019 | $36.55 | — | Goldman Sachs 2025 Annual Report |
| 2021 | $59.34 | +62.5% vs 2019 | Goldman Sachs 4Q21 SEC 8-K |
| 2022 | $47.37 | -20.2% | Goldman Sachs 4Q22 SEC 8-K |
| 2023 | $46.25 | -2.4% | Goldman Sachs 4Q23 SEC 8-K |
| 2024 | $53.51 | +15.7% | Goldman Sachs 4Q24 SEC 8-K |
| 2025 | $58.28 | +9.0% | Goldman Sachs 4Q25 SEC 8-K |
Goldman Sachs Revenue by Business Segment (2025 vs. 2024)
The segment structure Goldman Sachs introduced in Q4 2025 consolidates three reporting divisions. The shift in mix is worth noting: GBM now accounts for more than seven dimes of every dollar the firm earns.
| Segment | FY2025 ($M) | FY2024 ($M) | YoY Change | 2025 Share | Source |
|---|---|---|---|---|---|
| Global Banking & Markets | 41,453 | 35,067 | +18.2% | 71.1% | Goldman Sachs 4Q25 SEC 8-K |
| Asset & Wealth Management | 16,679 | 16,316 | +2.2% | 28.6% | Goldman Sachs 4Q25 SEC 8-K |
| Platform Solutions | 151 | 2,129 | -92.9% | 0.3% | Goldman Sachs 4Q25 SEC 8-K |
| Total | 58,283 | 53,512 | +9.0% | 100% | Goldman Sachs 4Q25 SEC 8-K |
Platform Solutions decline reflects the Apple Card portfolio transfer to held-for-sale status (Q4 2025); the related $2.48 billion reserve release appeared in provision for credit losses.
Within GBM, the story is Equities. Net revenues in that line hit $16.54 billion for 2025, up 23% year over year, with Equities financing alone rising 31% to $7.20 billion. FICC grew 9% to $14.52 billion. Investment banking fees of $9.34 billion rose 21%, led by Advisory at $4.73 billion — the advisory revenues that keep Goldman at the top of the global M&A league tables. None of those advisory figures are estimated; they are drawn from the firm’s SEC-filed segment tables.
Goldman Sachs Q2 2026 Revenue Statistics
The second quarter of 2026 reset the bar. According to the firm’s Q2 2026 earnings release (SEC 8-K, July 14, 2026), net revenues of $20.34 billion came in 39% above the year-ago quarter and 18% above Q1 2026. Global Banking & Markets drove 76.3% of that total at $15.52 billion — its own record — powered by Equities at $7.42 billion (+72% YoY) and investment banking fees of $3.40 billion (+55% YoY).
Asset & Wealth Management contributed $4.60 billion, up 20% year over year, anchored by record management and other fees of $3.36 billion. Total assets under supervision reached $4.04 trillion, crossing the four-trillion-dollar threshold for the first time in the firm’s history.
Goldman Sachs Quarterly Net Revenue (2024–2026)
| Quarter | Net Revenue ($B) | QoQ Change | YoY Change | Source |
|---|---|---|---|---|
| Q2 2024 | $12.73 | — | — | Goldman Sachs 2Q24 SEC 8-K |
| Q3 2024 | $12.90 | +1.3% | — | Goldman Sachs 3Q24 SEC 8-K |
| Q4 2024 | $13.87 | +7.5% | — | Goldman Sachs 4Q24 SEC 8-K |
| Q1 2025 | $15.06 | +8.6% | — | Goldman Sachs 1Q25 SEC 8-K |
| Q2 2025 | $14.58 | -3.2% | +14.5% | Goldman Sachs 2Q25 SEC 8-K |
| Q3 2025 | $15.18 | +4.1% | +17.7% | Goldman Sachs 3Q25 SEC 8-K |
| Q4 2025 | $13.45 | -11.4% | -3.0% | Goldman Sachs 4Q25 SEC 8-K |
| Q1 2026 | $17.23 | +28.1% | +14.4% | Goldman Sachs 1Q26 SEC 8-K |
| Q2 2026 | $20.34 | +18.0% | +39.4% | Goldman Sachs 2Q26 SEC 8-K |
Goldman Sachs Earnings Statistics
What Is Goldman Sachs’ Net Income?
Net earnings for full-year 2025 were $17.18 billion, up 20% from $14.28 billion in 2024, per the Goldman Sachs 4Q25 SEC 8-K filed January 15, 2026. Pre-tax earnings of $21.85 billion applied against an effective tax rate of 21.4%. Diluted EPS of $51.32 grew 27% year over year, partly reflecting the ongoing share count reduction from buybacks.
For the first half of 2026, net earnings totaled $12.26 billion — already 71% of full-year 2025 — on H1 revenues of $37.57 billion (+27% versus H1 2025). Second quarter 2026 net earnings alone were $6.63 billion, with annualized ROE of 23.5% and ROTE of 25.5%.
The efficiency ratio — operating expenses as a share of net revenues — was 64.4% for FY2025 and improved to 57.4% in Q2 2026 and 58.8% for H1 2026. That compression matters: it means the firm is generating more bottom-line dollars per revenue dollar as the revenue base scales.
Goldman Sachs Annual Earnings Summary (2022–2025)
| Metric | 2022 | 2023 | 2024 | 2025 | Source |
|---|---|---|---|---|---|
| Net revenues ($B) | $47.37 | $46.25 | $53.51 | $58.28 | GS SEC 8-K filings |
| Net earnings ($B) | $10.76 | $7.91 | $14.28 | $17.18 | GS SEC 8-K filings |
| Diluted EPS | $30.06 | $22.87 | $40.54 | $51.32 | GS SEC 8-K filings |
| ROE | 10.2% | 7.1% | 12.7% | 15.0% | GS SEC 8-K filings |
| Efficiency ratio | 68.5% | 73.9% | 63.1% | 64.4% | GS SEC 8-K filings |
Goldman Sachs Return on Equity Statistics
ROE of 15.0% for FY2025 improved 230 basis points from 12.7% in 2024. The firm’s 2020 Investor Day target was mid-teens ROE; 2025 marked the first year Goldman hit that target. For Q2 2026 specifically, annualized ROE reached 23.5% and ROTE 25.5% — levels that significantly exceed the stated medium-term targets and that reflect the operating leverage of the current environment.
The 2023 trough of 7.1% ROE is worth contextualizing. It coincided with the write-downs on the consumer banking exit (Marcus), elevated credit loss provisions on the credit card portfolio, and the peak headcount from the 2021–2022 hiring surge. All three of those headwinds have since reversed.
Goldman Sachs Investment Banking Statistics
Goldman Sachs M&A Rankings: 23 Consecutive Years at #1
Goldman Sachs has held the top spot in global M&A advisory rankings for 23 consecutive years through 2025, per the firm’s 2025 Annual Report (Goldman Sachs Group, March 2026). In 2025, Goldman advised on over $1.6 trillion in announced M&A transaction volumes — more than $250 billion ahead of the nearest peer, per the same filing. Advisory net revenues of $4.73 billion in 2025 rose 34% from $3.53 billion in 2024.
The raw advisory fee gap versus the field is wider than the deal volume gap suggests. According to data compiled by LSEG and referenced in the firm’s investor communications, Goldman led with approximately $4.6 billion in pure M&A advisory fees in 2025, ahead of JPMorgan at approximately $3.1 billion and Morgan Stanley at approximately $3.0 billion.
Global dealmaking reached roughly $4.8 trillion in 2025, the second-highest annual total on record behind 2021, per Mergermarket data cited by industry sources. Goldman advised on 38 of the roughly 68 announced deals valued above $10 billion — a concentration in the mega-deal segment that drives the advisory fee premium over volume-based peers.
For Q2 2026 specifically, investment banking fees of $3.40 billion (+55% YoY) reflected significantly higher equity underwriting (+130% YoY) and debt underwriting (+75% YoY), alongside a continued rise in advisory activity. The firm’s Investment banking fees backlog at end-Q2 2026 reached its highest level in five years, per the Q2 2026 earnings release.
Goldman Sachs Global Banking & Markets Revenue Breakdown (FY2025)
| Line | FY2025 ($M) | FY2024 ($M) | YoY Change | Source |
|---|---|---|---|---|
| Advisory | 4,726 | 3,534 | +34% | GS 4Q25 SEC 8-K |
| Equity underwriting | 1,784 | 1,677 | +6% | GS 4Q25 SEC 8-K |
| Debt underwriting | 2,829 | 2,521 | +12% | GS 4Q25 SEC 8-K |
| Investment banking fees total | 9,339 | 7,732 | +21% | GS 4Q25 SEC 8-K |
| FICC | 14,522 | 13,342 | +9% | GS 4Q25 SEC 8-K |
| Equities | 16,535 | 13,432 | +23% | GS 4Q25 SEC 8-K |
| Other | 1,057 | 561 | +88% | GS 4Q25 SEC 8-K |
| GBM total | 41,453 | 35,067 | +18% | GS 4Q25 SEC 8-K |
The Equities line deserves a separate look. Equities financing — securities lending, prime brokerage, and portfolio solutions — hit $7.20 billion in 2025, up 31% from $5.50 billion in 2024. Since 2021, FICC and Equities financing revenues combined have grown at a 17% CAGR, per the firm’s 2025 Annual Report. Financing now accounts for 37% of total FICC and Equities revenues. That share matters for investors because financing revenues are structurally more predictable than intermediation — they scale with balance sheet usage rather than daily market volatility.
Goldman Sachs Asset & Wealth Management Statistics
How Large Are Goldman Sachs’ Assets Under Supervision?
According to Axis Intelligence Research analysis of Goldman Sachs SEC filings, total assets under supervision reached $4.04 trillion at June 30, 2026 — a record — up from $3.61 trillion at year-end 2025 and $3.14 trillion at year-end 2024. The 29% two-year expansion reflects both market appreciation and substantial net inflows across all asset classes.
The breakdown at Q2 2026 end: fixed income $1.39 trillion, equity $1.12 trillion, alternative investments $459 billion, and liquidity products $1.07 trillion.
Long-term net inflows in full-year 2025 totaled $168 billion, up from $106 billion in 2024. The alternatives sub-category received $52 billion in net inflows in 2025 alone. The firm raised a record $115 billion in third-party alternatives capital in 2025, and raised another record $59 billion in just the second quarter of 2026. Goldman’s stated medium-term target is to raise between $75 and $100 billion annually in alternatives on a sustainable basis, with fee-paying alternative AUS reaching $750 billion by end-2030, per the 2025 Annual Report.
Goldman Sachs Assets Under Supervision ($B) — Quarterly
| Period | Total AUS ($B) | Long-Term AUS ($B) | Alternatives ($B) | Source |
|---|---|---|---|---|
| YE 2024 | 3,137 | 2,292 | 350 | GS 4Q24 SEC 8-K |
| YE 2025 | 3,606 | 2,705 | 420 | GS 4Q25 SEC 8-K |
| Q1 2026 | 3,650 | 2,724 | 429 | GS 1Q26 SEC 8-K |
| Q2 2026 | 4,041 | 2,976 | 459 | GS 2Q26 SEC 8-K |
Management and other fees — the most recurring revenue line in Asset & Wealth Management — hit $11.54 billion in 2025, up 11% from $10.42 billion in 2024, and reached a record $3.36 billion in Q2 2026 alone. Since 2021, management fees and private banking and lending revenues combined have grown at a 12% CAGR, per the 2025 Annual Report, exceeding the firm’s own target. The AWM pre-tax margin target has since been raised to approximately 30%, up from the mid-20s area previously.
Goldman Sachs Geographic Revenue Statistics
Where Does Goldman Sachs Earn Its Revenue?
According to Axis Intelligence Research analysis of Goldman Sachs SEC filings, the Americas generated $36.55 billion in net revenues in 2025 (63% of total), EMEA generated $14.16 billion (24%), and Asia generated $7.58 billion (13%). In Q2 2026, Asia’s contribution jumped to 18% of the $20.34 billion total — $3.61 billion — up from 12% in Q2 2025.
Goldman Sachs Geographic Revenue Breakdown
| Region | FY2025 ($M) | FY2025 Share | FY2024 ($M) | FY2024 Share | Source |
|---|---|---|---|---|---|
| Americas | 36,548 | 62.7% | 34,448 | 64.4% | GS 4Q25 SEC 8-K |
| EMEA | 14,155 | 24.3% | 12,250 | 22.9% | GS 4Q25 SEC 8-K |
| Asia | 7,580 | 13.0% | 6,814 | 12.7% | GS 4Q25 SEC 8-K |
| Total | 58,283 | 100% | 53,512 | 100% | GS 4Q25 SEC 8-K |
Axis Geographic Revenue Concentration Index (GRCI)
This is an original Axis Intelligence Research metric published here for the first time.
The GRCI measures how geographically concentrated Goldman Sachs’ revenues are, using a Herfindahl-Hirschman–adapted formula: GRCI = Σ(regional revenue share)² × 10,000. A score of 10,000 means 100% of revenue from one region; a score of 3,333 means perfectly equal three-way distribution.
Formula inputs:
- FY2024: Americas 64%, EMEA 23%, Asia 13% → GRCI = (0.64² + 0.23² + 0.13²) × 10,000 = 4,794
- FY2025: Americas 63%, EMEA 24%, Asia 13% → GRCI = (0.63² + 0.24² + 0.13²) × 10,000 = 4,714
- Q2 2026: Americas 60%, EMEA 22%, Asia 18% → GRCI = (0.60² + 0.22² + 0.18²) × 10,000 = 4,408
According to Axis Intelligence Research, the GRCI dropped 386 points from FY2024 to Q2 2026, driven entirely by Asia’s six-percentage-point revenue share gain. The shift is partly structural — Goldman’s expansion in Asia-Pacific capital markets activity — and partly cyclical, as Asian equity flows and M&A activity surged in early 2026. Whether this represents a durable geographic rebalancing or a quarterly spike is the question the Q3 2026 filing will begin to answer.
Limitations: GRCI uses three disclosed geographic buckets; it cannot capture intra-region concentration. The Americas bucket alone spans the US (the dominant contributor), Canada, Latin America, and the Caribbean. A more granular GRCI would require country-level revenue disclosure, which Goldman does not publish.
Goldman Sachs Employee & Compensation Statistics
How Many Employees Does Goldman Sachs Have?
Goldman Sachs had 47,400 employees at December 31, 2025, per the firm’s Q4 2025 earnings release (SEC 8-K, January 15, 2026). That is a 2% increase from 46,500 at year-end 2024, following three years of volatility: peak headcount of 48,500 in 2022, a reduction to 45,300 by year-end 2023, and a modest rebuild through 2024–2025. By Q2 2026, headcount had declined to 46,200, down 2% from Q1 2026 of 47,000.
Total compensation and benefits expense for FY2025 was $18.91 billion, up 13% from $16.71 billion in 2024. The firm’s compensation ratio — compensation as a share of net revenues — was approximately 32.4% for 2025.
Goldman Sachs Headcount History
| Year-End | Employees | YoY Change | Source |
|---|---|---|---|
| 2021 | 43,900 | — | Goldman Sachs 10-K 2021 |
| 2022 | 48,500 | +10.5% | Goldman Sachs 10-K 2022 |
| 2023 | 45,300 | -6.6% | Goldman Sachs 10-K 2023 |
| 2024 | 46,500 | +2.6% | Goldman Sachs 4Q24 SEC 8-K |
| 2025 | 47,400 | +1.9% | Goldman Sachs 4Q25 SEC 8-K |
Axis Revenue per Employee Analysis (2021–2025)
Original calculation by Axis Intelligence Research. Inputs: annual net revenues from SEC 8-K filings; year-end headcount from same filings. Formula: Revenue per Employee = Annual Net Revenue ÷ Year-End Headcount.
| Year | Revenue ($B) | Headcount | Revenue/Employee | YoY Change | Source |
|---|---|---|---|---|---|
| 2021 | $59.34 | 43,900 | $1,351,700 | — | GS 10-K / 8-K |
| 2022 | $47.37 | 48,500 | $976,600 | -27.7% | GS 10-K / 8-K |
| 2023 | $46.25 | 45,300 | $1,021,100 | +4.6% | GS 10-K / 8-K |
| 2024 | $53.51 | 46,500 | $1,150,800 | +12.7% | GS 10-K / 8-K |
| 2025 | $58.28 | 47,400 | $1,229,600 | +6.8% | GS 10-K / 8-K |
According to Axis Intelligence Research, revenue per employee at Goldman Sachs recovered from its 2022 trough of $976,600 to $1.23 million in 2025, though it remains 9% below the 2021 peak of $1.35 million. The 2022 decline was mechanical: Goldman hired aggressively through 2021–2022 while revenue peaked in 2021 and fell sharply in 2022. The resulting denominator swelled as the numerator contracted. From 2023 onward, the trend reversed as revenue recovered faster than headcount.
Limitation: Year-end headcount is a point-in-time snapshot, not an average. Intra-year hiring or reduction activity means this figure understates actual labor cost when headcount is rising (early in 2022) and overstates it when headcount is falling (early 2023). A closer proxy for labor productivity would use average headcount, which Goldman does not publish on a full-year basis.
Goldman Sachs Dividend Statistics
The Goldman Sachs quarterly dividend has increased three times in recent reporting periods. Per the firm’s Q4 2025 earnings release (SEC 8-K, January 15, 2026), the board raised the quarterly dividend to $4.50 per common share, effective Q1 2026. Per the Q2 2026 earnings release (SEC 8-K, July 14, 2026), the board subsequently raised it to $5.00 per common share, effective Q3 2026 — a 25% year-over-year increase relative to the Q3 2025 dividend of $4.00.
Goldman Sachs Capital Position Statistics
How Strong Is Goldman Sachs’ Balance Sheet?
Goldman Sachs’ total assets at December 31, 2025 were $1.81 trillion, per the 4Q25 earnings release (SEC 8-K, January 15, 2026). By June 30, 2026, total assets had grown to $2.13 trillion, the largest disclosed balance sheet in the firm’s history.
The Common Equity Tier 1 (CET1) ratio under Advanced Capital Rules was 15.0% at year-end 2025, declining to 13.7% at June 30, 2026, as risk-weighted assets expanded with balance sheet growth. The supplementary leverage ratio was 5.2% at year-end 2025 and 4.3% at Q2 2026 end. Both ratios remain above regulatory minimums.
Goldman Sachs Capital Metrics
| Metric | YE 2025 | Q1 2026 | Q2 2026 | Source |
|---|---|---|---|---|
| Total assets ($B) | 1,810 | 2,060 | 2,128 | GS SEC 8-K filings |
| CET1 ratio (Advanced) | 15.0% | 13.3% | 13.7% | GS SEC 8-K filings |
| Common equity tier 1 ($B) | $104.3 | $101.8 | $101.7 | GS SEC 8-K filings |
| Book value per share | $357.60 | $361.19 | $367.67 | GS SEC 8-K filings |
| Global core liquid assets (avg, $B) | $466 | $494 | $555 | GS SEC 8-K filings |
Goldman Sachs Share Buyback Statistics
Goldman Sachs repurchased $12.36 billion of common stock in 2025, buying back 18.9 million shares at an average cost of $654.45 per share, per the 4Q25 SEC 8-K. The firm announced a new $40 billion share repurchase authorization in April 2025. In Q2 2026, the firm repurchased $4.00 billion of common stock (4.1 million shares at an average cost of $984.57), per the Q2 2026 SEC 8-K.
According to Axis Intelligence Research calculations, Goldman Sachs returned $16.78 billion to common shareholders in 2025 — equivalent to 97.7% of its $17.18 billion in net earnings — the highest capital return ratio in the firm’s post-2020 history, as the balance sheet optimization that followed the consumer banking exit freed capital previously reserved against the credit card portfolio.
Goldman Sachs Statistics by Comparison: Peer Revenue Snapshot (2025)
The following figures are drawn from each firm’s respective full-year 2025 earnings releases. They are provided for context; methodology differences across firms mean direct comparisons carry limitations.
| Firm | FY2025 Net Revenue | FY2025 Net Earnings | Source |
|---|---|---|---|
| Goldman Sachs | $58.3B | $17.2B | GS 4Q25 SEC 8-K |
| Morgan Stanley | $70.6B | — | MS 4Q25 SEC 8-K |
| JPMorgan Chase | ~$177B (managed) | — | JPM 4Q25 SEC 8-K |
| Bank of America | — | — | BAC 4Q25 SEC 8-K |
Note: Revenue definitions differ materially across banks. Goldman reports net revenues (interest income net of interest expense); JPMorgan’s managed revenue basis includes gross interest income. Peer figures are included for orientation, not as apples-to-apples comparisons. For JPMorgan peer analysis, see the JPMorgan Chase statistics page on axis-intelligence.com.
The one peer comparison that is apples-to-apples: M&A advisory revenues, where each firm reports a discrete advisory net revenues line. Goldman’s $4.73 billion in 2025 advisory revenues leads the field, per data compiled from published SEC filings. JPMorgan’s total investment banking fees ($10.1 billion) exceed Goldman’s ($9.34 billion) because JPMorgan’s debt underwriting volume is substantially larger, reflecting its balance-sheet-intensive origination model. Goldman’s lead sits specifically in pure M&A advisory — the advice-only, capital-light portion of the fee pool.
Methodology
How Axis Intelligence Research Assembled This Data
Primary data collection: All figures in this article were retrieved directly from primary sources during the period July 24–28, 2026. The core financial data sources are:
- Goldman Sachs 4Q25 Earnings Results (SEC 8-K, filed January 15, 2026): https://www.sec.gov/Archives/edgar/data/886982/000088698226000008/a4q25gsearningsresults.htm
- Goldman Sachs 2Q26 Earnings Results (SEC 8-K, filed July 14, 2026): https://www.goldmansachs.com/pressroom/press-releases/current/pdfs/2026-q2-results.pdf
- Goldman Sachs 2025 Annual Report (published March 20, 2026): https://www.goldmansachs.com/investor-relations/financials/current/annual-reports/2025-annual-report
- Goldman Sachs 1Q25 Earnings Results (SEC 8-K, filed April 14, 2025): https://www.goldmansachs.com/pressroom/press-releases/current/pdfs/2025-q1-results.pdf
- Goldman Sachs 4Q24 Earnings Results (SEC 8-K/press release, filed January 15, 2025): https://www.goldmansachs.com/pressroom/press-releases/2025/2025-01-15-q4-results
Axis original metrics:
Revenue per Employee: Annual net revenues (from SEC 8-K filings) divided by year-end headcount (from the same filings). Year-end headcount is a point-in-time figure and understates average labor cost when headcount changes sharply within the year. Five-year series covers 2021–2025.
Geographic Revenue Concentration Index (GRCI): Herfindahl-Hirschman–adapted formula, applied to Goldman Sachs’ three disclosed geographic revenue buckets (Americas, EMEA, Asia). Formula: GRCI = Σ(regional share)² × 10,000. The index runs from 3,333 (equal three-way split) to 10,000 (full concentration in one region). Inputs are the percentage geographic revenue splits disclosed in the segment tables of each SEC 8-K filing. Limitations: the Americas bucket covers multiple countries and does not allow intra-region analysis; GRCI will not detect concentration within any single regional bucket.
Capital return ratio: (Share repurchases + common stock dividends) ÷ net earnings, expressed as a percentage. Figures drawn from the 4Q25 SEC 8-K other matters section.
Historical revenue data: Annual revenue figures for 2021–2023 sourced from prior-year SEC 8-K earnings filings and confirmed against the firm’s 2025 Annual Report shareholder letter, which states that net revenues increased roughly 60% from the 2019 baseline.
Peer comparison data: Morgan Stanley revenue figure sourced from MS 4Q25 SEC 8-K. JPMorgan advisory fee comparison sourced from LSEG data as reported in industry press.
Known limitations and data gaps: Goldman Sachs does not disclose average headcount on an annual basis, limiting revenue-per-employee analysis to a year-end snapshot. The firm does not disclose country-level revenue breakdowns. Platform Solutions net revenues in FY2025 are not directly comparable to FY2024 due to the Apple Card accounting impact; underlying trends within that segment are not separately disclosed.
About This Dataset
The Goldman Sachs Statistics 2026 dataset compiles primary-source financial data from SEC 8-K earnings filings and official Goldman Sachs investor relations publications, spanning fiscal years 2021–2025 and quarterly data through Q2 2026 (ended June 30, 2026). It includes segment revenues, geographic revenue breakdowns, headcount, capital ratios, assets under supervision, and two original Axis Intelligence Research metrics: Revenue per Employee (five-year series) and the Geographic Revenue Concentration Index.
License: CC BY 4.0. Users may share, adapt, and build on this data for any purpose, provided Axis Intelligence Research is credited as the source.
Citation format:
- APA: Axis Intelligence Research. (2026). Goldman Sachs Statistics 2026: Revenue, Earnings, AUM & Key Performance Data. axis-intelligence.com.
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Frequently Asked Questions
How much revenue does Goldman Sachs generate per year?
Goldman Sachs generated $58.28 billion in net revenues for full-year 2025, up 9% from $53.51 billion in 2024, per the firm’s SEC 8-K filed January 15, 2026. For the first half of 2026, net revenues totaled $37.57 billion — already 64% of the full-year 2025 figure — suggesting 2026 annual revenues will significantly exceed 2025 if the current pace holds.
What is Goldman Sachs’ net income?
Net earnings for FY2025 were $17.18 billion, per the Goldman Sachs SEC 8-K. Diluted EPS was $51.32. For Q2 2026 alone, net earnings were $6.63 billion, with annualized ROE of 23.5%. Net earnings applicable to common shareholders for H1 2026 were $11.80 billion.
How many employees does Goldman Sachs have?
Goldman Sachs had 47,400 employees at December 31, 2025, per the firm’s earnings release. By Q2 2026 end (June 30, 2026), headcount had declined to 46,200. The firm’s peak headcount was 48,500 at year-end 2022, during the post-pandemic expansion phase.
What are Goldman Sachs’ total assets under management?
Goldman Sachs prefers the term “assets under supervision” (AUS). AUS reached $4.04 trillion at June 30, 2026 — a record — per the Q2 2026 SEC 8-K. This figure includes long-term assets ($2.98 trillion) and liquidity products ($1.07 trillion). The alternatives sub-bucket alone reached $459 billion at Q2 2026 end.
What is Goldman Sachs’ current stock price?
As of July 22, 2026, GS shares closed at $1,098.20, per Macrotrends. The all-time intraday high was $1,153.99, reached on July 15, 2026. Axis Intelligence Research does not provide investment recommendations; this figure is provided for informational context only.
Is Goldman Sachs the top M&A advisor globally?
Yes. Goldman Sachs has ranked #1 in global M&A advisory for 23 consecutive years through 2025, per the firm’s 2025 Annual Report. In 2025, Goldman advised on more than $1.6 trillion in announced M&A transaction volumes, with advisory net revenues of $4.73 billion — the highest in the industry for that year.
How much capital does Goldman Sachs return to shareholders?
Goldman Sachs returned $16.78 billion to common shareholders in 2025, equal to 97.7% of full-year net earnings, per the 4Q25 SEC 8-K. That total comprised $12.36 billion in share repurchases (18.9 million shares at an average cost of $654.45) and $4.42 billion in dividends. The quarterly dividend was subsequently raised to $5.00 per share for Q3 2026, a 25% year-over-year increase.
What is Goldman Sachs’ return on equity?
Goldman Sachs’ ROE was 15.0% for full-year 2025, up 230 basis points from 12.7% in 2024, per the 4Q25 SEC 8-K. For Q2 2026, annualized ROE was 23.5% and annualized ROTE was 25.5%, both records under the current reporting structure. The firm’s stated medium-term target is “high-teens” ROE, per the 2025 Annual Report.
How geographically diversified is Goldman Sachs’ revenue?
Per Axis Intelligence Research GRCI analysis, the Americas accounted for 63% of FY2025 revenues, EMEA for 24%, and Asia for 13%. By Q2 2026, Asia’s share had risen to 18%, the fastest regional shift in the firm’s recent history. The Axis GRCI score dropped from 4,714 (FY2025) to 4,408 (Q2 2026), indicating meaningfully greater geographic diversification — though the firm remains heavily Americas-weighted.
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