Goldman Sachs Group GS Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Non-interest revenues by Business | ||||||
| Asset & Wealth Management | $3.37B-14.2% | $3.93B+18.5% | $3.32B+10.9% | $2.99B+0.9% | $2.97B-26.6% | |
| Global Banking & Markets | $10.55B+28.6% | $8.21B+0.7% | $8.15B-5.0% | $8.58B-7.6% | $9.29B+22.6% | |
| Platform Solutions | -$255M+89.3% | -$2.39B-1,658% | -$136M-41.7% | -$96M-4.3% | -$92M+6.1% | |
| Total net revenues by Business | ||||||
| Asset & Wealth Management | $4.08B-15.4% | $4.82B+9.6% | $4.4B+16.4% | $3.78B+1.8% | $3.71B-24.2% | |
| Global Banking & Markets | $12.74B+21.2% | $10.51B+3.9% | $10.12B0.0% | $10.12B-5.8% | $10.74B+24.9% | |
| Platform Solutions | $411M— | —— | $670M-2.2% | $685M+12.3% | $610M+64.4% | |
| Net earnings by Business | ||||||
| Asset & Wealth Management | $807M-24.6% | $1.07B+22.8% | $871M+35.7% | $642M-8.5% | $702M-56.6% | |
| Global Banking & Markets | $4.76B+41.1% | $3.37B+3.5% | $3.26B+4.1% | $3.13B-21.5% | $3.99B+51.4% | |
| Platform Solutions | $65M-62.9% | $175M+683% | -$30M+36.2% | -$47M-194% | $50M+136% | |
| Net earnings to common by Business | ||||||
| Asset & Wealth Management | $770M-25.8% | $1.04B+25.4% | $828M+38.9% | $596M-11.6% | $674M-57.5% | |
| Global Banking & Markets | $4.57B+43.9% | $3.18B+3.5% | $3.07B+4.7% | $2.93B-24.1% | $3.86B+55.9% | |
| Platform Solutions | $59M-64.9% | $168M+542% | -$38M+32.1% | -$56M-224% | $45M+131% | |
| Net Interest Income by Business | ||||||
| Asset & Wealth Management | $704M-21.0% | $891M-17.7% | $1.08B+37.7% | $786M+5.5% | $745M-12.7% | |
| Global Banking & Markets | $2.19B-5.2% | $2.31B+17.4% | $1.96B+27.8% | $1.54B+6.1% | $1.45B+41.5% | |
| Platform Solutions | $666M+30.3% | $511M-36.6% | $806M+3.2% | $781M+11.3% | $702M+49.7% | |
| Total pre-tax earnings by Business | ||||||
| Asset & Wealth Management | $930M-31.5% | $1.36B+19.5% | $1.14B+34.4% | $845M+1.0% | $837M-59.6% | |
| Global Banking & Markets | $5.48B+28.2% | $4.28B-0.5% | $4.3B+3.0% | $4.17B-12.2% | $4.75B+41.5% | |
| Platform Solutions | $75M-66.2% | $222M+669% | -$39M+31.6% | -$57M-197% | $59M+134% | |
| Total Assets by Business | ||||||
| Asset & Wealth Management | $211.27B+6.4% | $198.57B-4.0% | $206.93B+3.8% | $199.26B— | —— | |
| Global Banking & Markets | $1.82T+15.0% | $1.58T+3.1% | $1.54T+0.7% | $1.52T— | —— | |
| Platform Solutions | $28.64B+2.0% | $28.08B-57.1% | $65.43B+7.0% | $61.12B— | —— | |
| Goodwill by Business | ||||||
| Asset management | $2.1B+44.0% | $1.46B-0.1% | $1.46B-0.1% | $1.46B— | —— | |
| Equities | $2.65B0.0% | $2.65B0.0% | $2.65B0.0% | $2.65B— | —— | |
| Global Markets Fixed Income Currency and Commodities | $269M0.0% | $269M0.0% | $269M0.0% | $269M— | —— | |
| Investment banking | $267M0.0% | $267M0.0% | $267M0.0% | $267M— | —— | |
| Wealth Management | $1.31B0.0% | $1.31B0.0% | $1.31B0.0% | $1.31B— | —— | |
| Average common equity by Business | ||||||
| Asset & Wealth Management | $23.06B— | —— | $26.13B+0.3% | $26.05B+5.7% | $24.63B— | |
| Global Banking & Markets | $82.1B+4,632% | $1.74B-97.8% | $78B-0.3% | $78.24B-1.7% | $79.56B+4,778% | |
| Platform Solutions | $3.74B— | —— | $4.23B-4.2% | $4.41B-1.6% | $4.49B+11,708% | |
| Compensation and benefits by Business | ||||||
| Asset & Wealth Management | $1.83B-12.7% | $2.1B+5.7% | $1.98B+16.2% | $1.71B+3.8% | $1.64B+0.4% | |
| Global Banking & Markets | $3.42B+32.9% | $2.58B+0.5% | $2.56B-9.6% | $2.84B-8.8% | $3.11B+46.5% | |
| Platform Solutions | $160M+240% | $47M-64.9% | $134M-7.6% | $145M+17.9% | $123M— | |
| D&A by Business | ||||||
| Asset & Wealth Management | $185M-12.3% | $211M-1.9% | $215M-25.1% | $287M+51.1% | $190M+25.0% | |
| Global Banking & Markets | $291M-13.6% | $337M+24.8% | $270M-3.9% | $281M-2.4% | $288M-22.2% | |
| Platform Solutions | $19M— | $0-100% | $46M-8.0% | $50M+78.6% | $28M— | |
| Noninterest Expense by Business | ||||||
| Asset & Wealth Management | $3.08B-10.9% | $3.46B+5.0% | $3.3B+8.6% | $3.04B+6.3% | $2.86B-1.9% | |
| Global Banking & Markets | $7.01B+13.3% | $6.19B+7.9% | $5.73B-0.6% | $5.77B-2.6% | $5.92B+12.7% | |
| Platform Solutions | $335M+353% | $74M-82.5% | $423M-2.8% | $435M+25.0% | $348M+278% | |
| Other expenses by Business | ||||||
| Asset & Wealth Management | $1.25B-8.1% | $1.37B+3.9% | $1.31B-1.2% | $1.33B+9.6% | $1.21B-4.9% | |
| Global Banking & Markets | $3.59B-0.7% | $3.61B+13.9% | $3.17B+8.0% | $2.94B+4.3% | $2.81B-10.2% | |
| Platform Solutions | $175M+119% | $80M-72.3% | $289M-0.3% | $290M+28.9% | $225M+142% | |
| Provision for Credit Losses by Business | ||||||
| Asset & Wealth Management | $66M— | $0+100% | -$33M+67.6% | -$102M-667% | $18M+120% | |
| Global Banking & Markets | $248M+417% | $48M-44.2% | $86M-52.0% | $179M+171% | $66M— | |
| Platform Solutions | $1M+100% | -$2.18B-861% | $286M-6.8% | $307M+51.2% | $203M-55.2% | |
| Percentage of total net revenues by Geography | ||||||
| Americas | 60%— | —— | 66%+4.0pp | 62%-4.0pp | 66%— | |
| Asia | 18%+17.0pp | 1%-12.0pp | 13%+1.0pp | 12%+1.0pp | 11%+10.0pp | |
| EMEA | 22%+21.0pp | 1%-20.0pp | 21%-5.0pp | 26%+3.0pp | 23%— | |
| Total net revenues by Geography | ||||||
| Americas | $10.42B+35.6% | $7.68B-23.4% | $10.02B+11.6% | $8.98B-9.0% | $9.87B+8.5% | |
| Asia | $3.04B+46.1% | $2.08B+4.1% | $2B+11.8% | $1.79B+5.0% | $1.71B-14.7% | |
| EMEA | $3.77B+2.1% | $3.69B+16.7% | $3.16B-17.0% | $3.81B+9.2% | $3.49B+25.9% | |
| Percentage of total pre-tax earnings by Geography | ||||||
| Americas | 63%+59.0pp | 4%-67.0pp | 71%+12.0pp | 59%-7.0pp | 66%+62.0pp | |
| Asia | 14%— | —— | 7%-3.0pp | 10%+2.0pp | 8%— | |
| EMEA | 23%— | —— | 22%-9.0pp | 31%+5.0pp | 26%— | |
| Total pre-tax earnings by Geography | ||||||
| Americas | $4.12B-8.5% | $4.5B+18.2% | $3.81B+29.4% | $2.94B-21.0% | $3.73B-4.8% | |
| Asia | $903M+149% | $363M-11.0% | $408M-19.2% | $505M+10.3% | $458M-23.4% | |
| EMEA | $1.46B+47.9% | $990M-15.7% | $1.18B-22.1% | $1.51B+3.1% | $1.46B+96.5% | |
| Concentration risk percentage by Geography | ||||||
| Americas | 10,000%+7,500pp | 2,500%0.0pp | 2,500%0.0pp | 2,500%0.0pp | 2,500%0.0pp | |
| Asia | 900%+675pp | 225%0.0pp | 225%0.0pp | 225%0.0pp | 225%+25.0pp | |
| EMEA | 2,200%— | —— | 100%— | —— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Goldman Sachs Group break its business down?
- Goldman Sachs Group (GS) reports non-interest revenues by business across 3 parts — Asset & Wealth Management, Global Banking & Markets and Platform Solutions. Each is extracted from the segment footnotes and tracked over time.
- Where does Goldman Sachs Group's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Goldman Sachs Group's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
