Goldman Sachs Group (GS) FY2015 results: revenue $33.8 billion, down 2.1% on the year
Goldman Sachs Group Inc. (GS) reported revenue of $33.8 billion for fiscal 2015, the year ended 31 December 2015, down 2.1% on the year before. Net income was $6.1 billion, down 28.2%, and diluted earnings per share $12.14. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2016.
Revenue
$33.8 billion
-2.1% on the year
FY2011FY2015
Operating margin
n/a
FY2011FY2015
Net income
$6.1 billion
-28.2% on the year
FY2011FY2015
Diluted EPS
$12.14
-28.9% on the year
FY2011FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
33,820
34,528
34,206
-2.1%
Interest expense
5,388
5,557
6,668
-3.0%
Pre-tax income
8,778
12,357
11,737
-29.0%
Income tax
2,695
3,880
3,697
-30.5%
Effective tax rate
30.7%
31.4%
31.5%
Net income
6,083
8,477
8,040
-28.2%
Net margin
18.0%
24.6%
23.5%
Diluted EPS
$12.14
$17.07
$15.46
-28.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
n/a
n/a
4,543
Capital expenditure
1,833
678
706
+170.4%
Free cash flow
n/a
n/a
3,837
Free cash flow margin
n/a
n/a
11.2%
Depreciation and amortisation
991
1,337
1,322
-25.9%
Share-based compensation
2,272
2,085
2,015
+9.0%
Buybacks
4,135
5,469
6,175
-24.4%
Dividends paid
1,681
1,454
1,302
+15.6%
Dividend per share
$2.55
$2.25
$2.05
+13.3%
Diluted shares, weighted
459m
473m
500m
-3.1%
Shares outstanding at period end
419m
430m
446m
-2.5%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
86,728
82,797
78,467
+4.7%
Deposits
97,519
83,008
70,807
+17.5%
Short-term borrowings
57,020
60,100
n/a
-5.1%
Debt
185,942
174,820
168,489
+6.4%
Other liabilities
434,186
455,515
593,744
-4.7%
Total liabilities and equity
861,395
856,240
911,507
+0.6%
Fixed assets
n/a
n/a
9,196
Goodwill
3,657
3,645
3,705
+0.3%
Intangible assets
491
515
671
-4.7%
Loans
45,407
28,938
14,895
+56.9%
Resale agreements
134,308
127,938
161,732
+5.0%
Securities borrowed
177,638
160,722
164,566
+10.5%
Cash and equivalents
93,439
75,025
78,867
+24.5%
Other assets
406,455
459,457
477,875
-11.5%
Total assets
861,395
856,240
911,507
+0.6%
10-K for the year ended 31 December 2015, filed 22 February 2016: the filing.