Compiled 2026-09-26Data through 2025-12-312 min read
Dated source-based research · No live market data

Research summary

A two-period review of GS revenue, profitability and cash conversion; reported revenue growth was not available.

Period comparison

FY2025 ended 2025-12-31; the prior observation ended 2024-12-31. Revenue moved from not available to not available. These are annual periods, not quarterly earnings or trailing-twelve-month estimates.

Earnings bridge

Net income moved from USD 14.276 billion to USD 17.176 billion. Operating income moved from not available to not available. Net margin moved from not available to not available. A margin change identifies an outcome; its causes require management discussion and footnotes.

Cash-flow cross-check

Operating cash flow was USD -13.212 billion in the earlier period and USD -45.154 billion in the later period. Selected free cash flow was USD -15.303 billion and USD -47.218 billion, respectively. Working-capital timing can cause earnings and cash to diverge.

Interpretation and limits

A rise in reported revenue does not by itself identify organic growth. A difference in EPS can reflect share-count changes as well as operating performance. No causal claim is made from these aggregate figures.

Valuation context

An earnings comparison provides a historical denominator, not a price target. A dated market price is deliberately absent from this static release.

What to monitor

Net interest income, credit provisions, fee income, underwriting results and capital adequacy.

Risks and uncertainties

Credit losses, deposit pricing, reserve assumptions, market liquidity and regulatory capital.

Sources & dates