Operating Expenses
Business development expense
Goldman Sachs Group Business development expense increased by 26.3% to $216.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 19.3%, from $181.00M to $216.00M. Over 4 years (FY 2021 to FY 2025), Business development expense shows an upward trend with a 6.4% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2013
Last reportedQ4 2025
How to read this metric
An increase indicates aggressive growth efforts, while a decrease may signal a focus on cost discipline or a reduction in market expansion activities.
Detailed definition
This metric captures the costs associated with acquiring new customers, expanding existing client relationships, and dev...
Peer comparison
Comparable to 'Business Development' or 'Client Acquisition Costs' found in the operating expenses of financial services and professional services firms.
Metric ID:
is_gs_business_development_expenseHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $115.00M | $165.00M | $193.00M | $162.00M | $235.00M | $199.00M | $216.00M | $172.00M | $146.00M | $136.00M | $175.00M | $153.00M | $153.00M | $159.00M | $181.00M | $156.00M | $167.00M | $171.00M | $216.00M |
| QoQ Change | — | +43.5% | +17.0% | -16.1% | +45.1% | -15.3% | +8.5% | -20.4% | -15.1% | -6.8% | +28.7% | -12.6% | +0.0% | +3.9% | +13.8% | -13.8% | +7.1% | +2.4% | +26.3% |
| YoY Change | — | — | — | — | +104.3% | +20.6% | +11.9% | +6.2% | -37.9% | -31.7% | -19.0% | -11.0% | +4.8% | +16.9% | +3.4% | +2.0% | +9.2% | +7.5% | +19.3% |
Range$115.00M – $235.00M
CAGR+15.0%
Avg YoY Growth+7.1%
Median YoY Growth+6.2%
Current Streak3 quarters growth
Business development expense at Other Companies
Frequently Asked Questions
- What is Goldman Sachs Group's business development expense?
- Goldman Sachs Group (GS) reported business development expense of $216.00M in Q4 2025.
- How has Goldman Sachs Group's business development expense changed year-over-year?
- Goldman Sachs Group's business development expense increased by 19.3% year-over-year, from $181.00M to $216.00M.
- What is the long-term trend for Goldman Sachs Group's business development expense?
- Over 4 years (2021 to 2025), Goldman Sachs Group's business development expense has grown at a 6.4% compound annual growth rate (CAGR), from $553.00M to $710.00M.
- What does business development expense mean?
- The costs incurred to acquire new business and grow existing client relationships.