Goldman Sachs Group (GS) FY2024 results: revenue $53.5 billion, up 15.7% on the year
Goldman Sachs Group Inc. (GS) reported revenue of $53.5 billion for fiscal 2024, the year ended 31 December 2024, up 15.7% on the year before. Net income was $14.3 billion, up 67.6%, and diluted earnings per share $40.54. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.
Revenue
$53.5 billion
+15.7% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$14.3 billion
+67.6% on the year
FY2017FY2024
Diluted EPS
$40.54
+77.3% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
-13,212
-12,587
8,708
Capital expenditure
2,091
2,316
3,748
-9.7%
Free cash flow
-15,303
-14,903
4,960
Free cash flow margin
-28.6%
-32.2%
10.5%
Cash from investing
-49,624
-17,312
-75,960
Cash from financing
7,323
27,800
59,602
-73.7%
Depreciation and amortisation
2,392
4,856
2,455
-50.7%
Share-based compensation
2,663
2,085
4,083
+27.7%
Buybacks
8,000
5,796
3,500
+38.0%
Dividends paid
4,497
4,189
3,682
+7.4%
Dividend per share
$11.50
$10.50
$9.00
+9.5%
Diluted shares, weighted
334m
346m
358m
-3.5%
Shares outstanding at period end
311m
323m
335m
-3.9%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
121,996
116,905
117,189
+4.4%
Deposits
433,013
428,417
386,665
+1.1%
Trading liabilities
202,555
200,355
191,324
+1.1%
Debt
312,343
317,822
308,099
-1.7%
Other liabilities
606,065
578,095
438,522
+4.8%
Total liabilities and equity
1,675,972
1,641,594
1,441,799
+2.1%
Fixed assets
8,024
11,244
17,074
-28.6%
Goodwill
5,853
5,916
6,374
-1.1%
Intangible assets
847
1,177
2,009
-28.0%
Securities held for sale or to maturity
158,171
119,451
100,896
+32.4%
Resale agreements
180,062
223,805
225,117
-19.5%
Securities borrowed
194,645
199,420
189,041
-2.4%
Trading assets
570,555
477,510
301,245
+19.5%
Cash and equivalents
182,092
241,577
241,825
-24.6%
Other assets
375,723
361,494
358,218
+3.9%
Total assets
1,675,972
1,641,594
1,441,799
+2.1%
10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.