Income StatementBalance SheetCash FlowSegments
Goldman Sachs Group logo

Goldman Sachs Group Cash Flow Statement

Operating, investing, and financing cash movements

Goldman Sachs Group generated -$123.4B in operating cash flow over the trailing twelve months. After $2.1B in capital expenditures, free cash flow was -$125.5B. Free cash flow decreased 1.4% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)-$50.0BNet Cash From Investing (TTM)-$77.8BNet Cash From Financing (TTM)$107.43BCapital Expenditures (TTM)$2.1BDepreciation And Amortization Cf (TTM)$2.2BNet Change In Cash (TTM)-$44.4B
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$294.04B
P/E Ratio16.27
ROE14.63%

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net proceeds (payments) from derivative instrument financing activities-$651.0M-$906.0M—-$243.0M-$1.4B-$1.2B
Dividends paid$1.2B$1.1B$1.2B$1.5B$1.5B$1.6B
Increase (Decrease) in Deposits—$36.3B—$24.6B$11.0B$60.8B
Payments for Repurchase of Preferred Stock and Preference Stock$1.5B$0.0$0.0$0.0$0.0$1.5B
Proceeds from the issuance of debt$17.8B$28.6B$22.5B$10.3B$26.8B$58.2B
Other, net—-$6.0M-$61.0M-$10.0M-$5.0M-$7.0M
Repayments of Unsecured Debt$14.9B$16.5B$19.7B$14.0B$21.3B$20.4B
Net Cash from Derivative Financing Activities-$651.0M-$906.0M—-$243.0M-$1.4B-$1.2B
Payment of Deferred Purchase Consideration—-$6.0M-$61.0M-$10.0M-$5.0M-$7.0M
Noncontrolling interest transactions and other—-$6.0M-$61.0M-$10.0M-$5.0M-$7.0M
Net cash from financing activities—$42.8B—$19.8B$16.8B$104.3B
Noncontrolling Interests Activity and Other—-$6.0M-$61.0M-$10.0M-$5.0M-$7.0M
Proceeds from issuance of preferred stock$0.0$1.9B———$0.0
Repurchases of common stock$2.0B$4.4B$3.0B$2.0B$3.0B$5.0B
Taxes paid for net share settlement$0.0$1.9B$295.0M$10.0M$0.0$2.6B
Proceeds from Issuance of Secured Debt$292.0M$460.0M$746.0M$2.6B$2.8B$651.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Sales of short-term available-for-sale investments$5.6B$22.9B$9.2B$8.9B$20.3B$24.2B
Net Payments for Businesses and Affiliates—$0.0$0.0-$1.5B$0.0$359.0M
Capital expenditures$586.0M$499.0M$476.0M$558.0M$531.0M$565.0M
Proceeds from (Payments for) Equity Method Investments—$0.0$0.0-$1.5B$0.0$359.0M
Payments For Proceeds From Loans And Leases$5.0B$13.0B$6.2B$6.9B$13.3B$13.0B
Payments to Acquire Held-to-Maturity Securities$2.4B$4.6B$1.2B$4.2B$1.3B$9.3B
Payments to Acquire Other Investments$3.1B$2.3B$2.1B$1.9B$3.0B$2.6B
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$25.0M$0.0$1.0M$0.0$42.0M$90.0M
Sale of investments$5.6B$22.9B$9.2B$8.9B$20.3B$24.2B
Proceeds from disposals of property, plant and equipment$461.0M$145.0M$247.0M$112.0M$299.0M$63.0M
Proceeds from other investments$2.7B$2.5B$1.9B$2.1B$3.3B$2.9B
Net cash from investing activities-$7.1B-$22.7B-$11.3B-$5.1B-$5.0B-$56.3B
Purchases of investments$7.9B$32.5B$20.6B$8.7B$15.6B$62.3B
Net Payments for (Proceeds from) Businesses and Affiliates—$0.0$0.0-$1.5B$0.0$359.0M
Paydowns and maturities of HTM securities$3.0B$4.6B$7.9B$4.5B$4.7B$4.6B

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other working capital changes$3.9B$3.6B-$3.9B-$338.0M-$1.2B$5.5B
Deferred income taxes-$147.0M$154.0M-$356.0M$49.0M$357.0M-$47.0M
Depreciation and amortization$498.0M$506.0M$618.0M$531.0M$527.0M$495.0M
Net cash from operating activities—-$37.2B——-$16.3B-$31.9B
Net income$4.1B$4.7B$3.7B$4.1B$4.6B$5.6B
Increase (Decrease) in Financial Instruments Used in Operating Activities—$21.3B———$104.0B
Increase (Decrease) in Loan, Held-for-Sale-$87.0M$501.0M$760.0M——$2.0B
Trading liabilities—$29.6B———$48.6B
Provision for Loan, Lease, and Other Losses$351.0M$287.0M$384.0M$339.0M-$2.1B$315.0M
Stock-based compensation$104.0M$2.4B$533.0M$237.0M$258.0M$2.5B

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow—-$37.7B——-$16.8B-$32.4B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$4.4B$2.5B$4.5B——-$848.0M
Net increase (decrease) in cash—-$14.7B-$14.4B—-$5.3B$15.3B

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$18.1B$16.0B$17.0B$16.9B$15.7B$18.0B