Goldman Sachs Group (GS) FY2017 results: revenue $32.7 billion, up 6.3% on the year
Goldman Sachs Group Inc. (GS) reported revenue of $32.7 billion for fiscal 2017, the year ended 31 December 2017, up 6.3% on the year before. Net income was $4.3 billion, down 42.1%, and diluted earnings per share $9.01. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2018.
Revenue
$32.7 billion
+6.3% on the year
FY2011FY2017
Operating margin
n/a
FY2011FY2017
Net income
$4.3 billion
-42.1% on the year
FY2011FY2017
Diluted EPS
$9.01
-44.7% on the year
FY2011FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
32,730
30,790
33,820
+6.3%
Interest expense
10,181
7,104
5,388
+43.3%
Pre-tax income
11,132
10,304
8,778
+8.0%
Income tax
6,846
2,906
2,695
+135.6%
Effective tax rate
61.5%
28.2%
30.7%
Net income
4,286
7,398
6,083
-42.1%
Net margin
13.1%
24.0%
18.0%
Diluted EPS
$9.01
$16.29
$12.14
-44.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-20,489
6,494
n/a
Capital expenditure
3,185
2,865
1,833
+11.2%
Free cash flow
-23,674
3,629
n/a
Free cash flow margin
-72.3%
11.8%
n/a
Cash from investing
-26,377
9,675
n/a
Cash from financing
35,206
12,103
n/a
+190.9%
Depreciation and amortisation
1,152
998
991
+15.4%
Share-based compensation
1,769
2,111
2,272
-16.2%
Buybacks
6,772
6,078
4,135
+11.4%
Dividends paid
1,769
1,706
1,681
+3.7%
Dividend per share
$2.90
$2.60
$2.55
+11.5%
Diluted shares, weighted
409m
435m
459m
-6.0%
Shares outstanding at period end
375m
393m
419m
-4.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
82,243
86,893
86,728
-5.4%
Deposits
138,604
124,098
97,519
+11.7%
Short-term borrowings
n/a
n/a
57,020
Debt
227,579
197,491
185,942
+15.2%
Other liabilities
468,350
451,683
434,186
+3.7%
Total liabilities and equity
916,776
860,165
861,395
+6.6%
Goodwill
3,665
3,666
3,657
-0.0%
Intangible assets
373
429
491
-13.1%
Securities held for sale or to maturity
10,076
176
n/a
+5,625.0%
Loans
65,933
49,672
45,407
+32.7%
Resale agreements
120,822
116,925
134,308
+3.3%
Securities borrowed
190,848
184,600
177,638
+3.4%
Cash and equivalents
110,051
121,711
93,439
-9.6%
Other assets
415,008
382,986
406,455
+8.4%
Total assets
916,776
860,165
861,395
+6.6%
10-K for the year ended 31 December 2017, filed 26 February 2018: the filing.