Goldman Sachs Group Market making revenue decreased by 5.1% to $3.67B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 12.0%, from $4.17B to $3.67B. Over 4 years (FY 2021 to FY 2025), Market making revenue shows an upward trend with a 4.0% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
An increase signals high trading volume and effective spread capture, though it can be sensitive to market volatility.
Market making revenue represents the gains or losses from providing liquidity to financial markets by maintaining bid-as...
Standard for global markets divisions at major investment banks.
is_market_making_revenue| 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 | $3.27B | $3.93B | $2.26B | $5.99B | $4.93B | $4.64B | $3.07B | $5.43B | $4.35B | $4.96B | $3.50B | $5.99B | $4.23B | $4.01B | $4.17B | $5.72B | $4.73B | $3.87B | $3.67B |
| QoQ Change | — | +20.0% | -42.6% | +165.5% | -17.7% | -5.8% | -33.8% | +76.8% | -19.9% | +14.0% | -29.5% | +71.4% | -29.5% | -5.2% | +4.1% | +37.3% | -17.3% | -18.3% | -5.1% |
| YoY Change | — | — | — | — | +50.5% | +18.1% | +36.2% | -9.3% | -11.7% | +6.8% | +13.8% | +10.3% | -2.9% | -19.2% | +19.2% | -4.5% | +12.0% | -3.4% | -12.0% |
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