Goldman Sachs
What matters nowUpdated 7 h ago
- Goldman Sachs filed its third-quarter 2026 results with the SEC on October 13, 2026 1. It returned $4.49 billion to common shareholders in the quarter, including $3.00 billion of buybacks at an average cost of $1,048.73 per share and $1.49 billion of dividends, and book value per common share reached $372.64 at September 30, 2026 2.
- The stock traded at a pooled 24/7 venue price of $903.38 against a prior close of $900.25, a gain of 0.35%. The two most recent large moves were declines of 3.50% on September 16, 2026 and 3.32% on September 14, 2026. No insider buys or sells were recorded in the last 180 days.
- On the fiscal 2025 base, Goldman reported net revenues of $58.28 billion and net earnings of $17.18 billion, with trailing EPS of $51.32 (up 26.6% year over year) and a P/E of 17.6 on a $267.8 billion market cap. In the third quarter of 2026, equities revenue rose 72% to $6.44 billion, investment banking fees rose 21% to $3.22 billion, and assets under supervision reached $4.10 trillion.
- A September 28, 2026 report said Goldman's board has discussed replacing CEO David Solomon with President and COO John Waldron; under that plan Solomon would become executive chairman for one to two years, with a handover around the end of 2027 or in 2028, though Goldman declined to comment and said there is no definitive timeline 3. About 20 executives are set to receive special equity awards worth more than $500 million, with the final value depending on the stock's performance at the end of October 2026 4.
- The $5.00 fourth-quarter 2026 dividend has a record date of December 2, 2026 and is payable December 30, 2026 5. Q4 and full-year 2026 earnings are estimated for January 15, 2027 but are not confirmed. The September CPI report is due October 14, 2026, and Polymarket odds put the probability of no Fed rate change after the October 2026 meeting at 81.5%, and of a 25 bp increase at 17.5%.
SEC EDGAR · Oct 13
SEC EDGAR (Form 8-K, Q3 2026 earnings release) · Oct 13
Reuters (via New Straits Times) · Sep 28
The Irish Times (Reuters) · Oct 8
SEC EDGAR (Form 8-K, Q3 2026 earnings release) · Oct 12
Goldman Sachs is a New York investment bank that runs three reportable segments: Global Banking & Markets, Asset & Wealth Management, and Platform Solutions. In FY2025 it reported $58.28 billion of net revenues and $17.18 billion of net earnings, with Global Banking & Markets producing about 71 percent of revenue. Traders follow the stock through trading revenue in equities and FICC, investment banking fees, the pace of asset-management fees, the planned transfer of the Apple Card book, and the quarterly dividend. Headcount was 47,500 at September 30, 2026.
How it makes money
Goldman earns most of its revenue from trading and financing for institutional clients, underwriting and advisory fees, and management and incentive fees on about $4.10 trillion of assets under supervision. Global Banking & Markets generated about 71 percent of FY2025 net revenues and Asset & Wealth Management about 29 percent. Platform Solutions is small but volatile because it carries the Apple Card loan portfolio, which is being transferred to JPMorgan Chase. Results swing with market volumes, deal activity and mark-to-market moves, and capital returns are shaped by regulatory capital rules.
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Global Markets (Equities and FICC)
Equities revenue reached $6.44 billion in Q3 2026, up 72% year over year; FICC was flat at $3.47 billion.
Investment Banking (advisory and underwriting)
Investment banking fees were $3.22 billion in Q3 2026, up 21% year over year, with the fee backlog lower than at the end of Q2.
Asset & Wealth Management
Assets under supervision reached $4.10 trillion at September 30, 2026, up from $3.45 trillion a year earlier.
Platform Solutions (Apple Card)
Apple Card loans are held for sale and Chase is set to become the issuer; net revenues were $170 million in Q3 2026, down 72% YoY.
Next: Expected completion of the Apple Card transition to Chase · 2028-01
Latest newsAll news →
Goldman returned $4.49B in Q3 through buybacks and dividends
Goldman Sachs returned $4.49 billion to common shareholders in the third quarter, including $3.00 billion of buybacks and $1.49 billion of dividends.
Goldman Sachs declares $5.00 dividend payable December 30, 2026
Goldman Sachs declared a fourth-quarter 2026 common dividend of $5.00 per share on October 12, 2026, unchanged from the third quarter.
Goldman top executives set for over $500 million in special stock awards
Bloomberg reported on October 8, 2026, and Reuters relayed, that about 20 Goldman executives are set to receive special equity awards worth more than $500 million.
Goldman board discussed making John Waldron CEO, succeeding David Solomon
A report published on September 28, 2026 said Goldman's board has discussed replacing CEO David Solomon with President and COO John Waldron.
Goldman Sachs to acquire LCN Capital Partners for up to $410 million
Goldman Sachs agreed to acquire LCN Capital Partners, a New York sale-leaseback and triple-net lease investment manager with about $3 billion of assets under supervision at June 30, 2026.
Goldman Sachs to buy ETF provider NEOS Investments for up to $2.25 billion
Goldman Sachs agreed to acquire NEOS Investments, an options-based income ETF provider, for up to $2.25 billion in cash and stock.
Products & businesses
Global Markets (Equities and FICC)
Equities revenue reached $6.44 billion in Q3 2026, up 72% year over year; FICC was flat at $3.47 billion.
Investment Banking (advisory and underwriting)
Investment banking fees were $3.22 billion in Q3 2026, up 21% year over year, with the fee backlog lower than at the end of Q2.
Asset & Wealth Management
Assets under supervision reached $4.10 trillion at September 30, 2026, up from $3.45 trillion a year earlier.
Platform Solutions (Apple Card)
Apple Card loans are held for sale and Chase is set to become the issuer; net revenues were $170 million in Q3 2026, down 72% YoY.
Next: Expected completion of the Apple Card transition to Chase · 2028-01
Industry Ventures (acquisition)
Closed on January 5, 2026 and now sits inside Goldman's External Investing Group.
OneGS 3.0 AI efficiency program
Goldman is constraining headcount growth and applying AI to onboarding, lending, vendor management and regulatory reporting; headcount was 47,500 at September 30, 2026.
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Global Banking & Markets Investment banking fees (advisory and underwriting) plus trading and financing across equities and FICC for institutional clients. | $41.45B | 71.1% | |
| Asset & Wealth Management Asset management across public and private strategies, including alternatives, plus wealth management for individuals and families. | $16.68B | 28.6% | |
| Platform Solutions Transaction banking and consumer platforms, including the Apple Card loan portfolio that is being transferred to JPMorgan Chase. | $151.0M | 0.3% |
Fiscal FY2025 · from the annual report
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Net income | $20.97B | $6.63B +78% | $5.63B +19% | $4.62Bd +12% | $4.10B +37% | $3.72B +22% | $4.74B +15% | $4.11Bd +105% | $2.99B +45% |
| EPS (diluted) | $64.77 | $20.98 +92% | $17.55 +24% | $13.99d +18% | $12.25 +46% | $10.91 +27% | $14.12 +22% | $11.90d +117% | $8.40 +54% |
| Operating cash flow | −$39.36B | $6.11Bd +8% | −$31.87B | −$16.28Bd -135% | $2.68Bd | $5.67Bd -7% | −$37.23B | $46.77Bd | −$38.06Bd |
| Capital expenditure | $2.16B | $502.0Md +5% | $565.0M +13% | $531.0Md -9% | $558.0Md +20% | $476.0Md -12% | $499.0M +0% | $586.0Md +7% | $466.0Md -8% |
| Share buybacks | $14.00B | $4.00Bd +33% | $5.00B +15% | $3.00Bd +50% | $2.00Bd +100% | $3.00Bd -14% | $4.36B +191% | $2.00Bd +100% | $1.00Bd -33% |
| Cash & equivalents | $187.27B | $187.27B | $179.53B | $164.26B | $169.58B | $152.97B | $167.41B | $182.09B | $154.69B |
| Shares outstanding | 291.4M | 291.4M | 294.6M | 296.5M | 300.1M | 302.9M | 307.6M | 310.7M | 314.2M |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Depreciation & amortization | $2.18B -9% | $2.39B -51% | $4.86B +98% | $2.46B |
| Interest expense | $66.81B -9% | $73.34B +18% | $62.16B +191% | $21.35B |
| Income tax | $4.68B +13% | $4.12B +85% | $2.22B -0% | $2.23B |
| Net income | $17.18B +20% | $14.28B +68% | $8.52B -24% | $11.26B |
| EPS (diluted) | $51.32 +27% | $40.54 +77% | $22.87 -24% | $30.06 |
| Dividends per share | $14.00 +22% | $11.50 +10% | $10.50 +17% | $9.00 |
| Diluted shares (weighted) | 317.6M | 333.6M | 345.8M | 358.1M |
| Operating cash flow | −$45.15B | −$13.21B | −$12.59B -245% | $8.71B |
| Capital expenditure | $2.06B -1% | $2.09B -10% | $2.32B -38% | $3.75B |
| Share buybacks | $12.36B +54% | $8.00B +38% | $5.80B +66% | $3.50B |
| Dividends paid | $5.28B +17% | $4.50B +7% | $4.19B +14% | $3.68B |
| Cash & equivalents | $164.26B | $182.09B | $241.58B | $241.82B |
| Total assets | $1.81T | $1.68T | $1.64T | $1.44T |
| Total liabilities | $1.68T | $1.55T | $1.52T | $1.32T |
| Shareholders' equity | $124.97B | $122.00B | $116.91B | $117.19B |
| Shares outstanding | 296.5M | 310.7M | 323.4M | 334.9M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Goldman returned $4.49B in Q3 through buybacks and dividends
Goldman Sachs returned $4.49 billion to common shareholders in the third quarter, including $3.00 billion of buybacks and $1.49 billion of dividends.
Goldman Sachs declares $5.00 dividend payable December 30, 2026
Goldman Sachs declared a fourth-quarter 2026 common dividend of $5.00 per share on October 12, 2026, unchanged from the third quarter.
Goldman top executives set for over $500 million in special stock awards
Bloomberg reported on October 8, 2026, and Reuters relayed, that about 20 Goldman executives are set to receive special equity awards worth more than $500 million.
Goldman board discussed making John Waldron CEO, succeeding David Solomon
A report published on September 28, 2026 said Goldman's board has discussed replacing CEO David Solomon with President and COO John Waldron.
Goldman Sachs to acquire LCN Capital Partners for up to $410 million
Goldman Sachs agreed to acquire LCN Capital Partners, a New York sale-leaseback and triple-net lease investment manager with about $3 billion of assets under supervision at June 30, 2026.
Goldman Sachs to buy ETF provider NEOS Investments for up to $2.25 billion
Goldman Sachs agreed to acquire NEOS Investments, an options-based income ETF provider, for up to $2.25 billion in cash and stock.
Goldman Sachs Alternatives agrees to buy Tosca from Apax funds
Funds advised by Apax Partners agreed to sell Tosca, an Atlanta-based provider of reusable asset pooling and logistics services for the food supply chain, to Infrastructure at Goldman Sachs Alternatives.
Goldman Sachs sells $2.5 billion of 6.500% Series AA preferred
Goldman Sachs issued 2,500,000 depositary shares of its Series AA preferred stock, a $2.5 billion aggregate liquidation preference, at a fixed 6.500% rate.
Goldman Sachs proposes Series AA preferred offering and possible Series U redemption
On July 20, 2026 Goldman Sachs announced a proposed public offering of depositary shares of a new Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AA.
Goldman Q2 equities revenue $7.42B and IB fees up 55% as backlog grows
Equities revenue reached $7.42 billion in the second quarter, up 72% from a year earlier and from $5.33 billion in the first quarter.
Goldman Sachs shares climb about 8% after second-quarter results beat
Goldman Sachs shares were up about 8% at $1,130.36 in morning trading on July 14, 2026, the day the firm reported second-quarter results.
Goldman Sachs declares $5.00 quarterly dividend, up from $4.50
Goldman Sachs declared a third-quarter 2026 common dividend of $5.00 per share on July 13, 2026, an 11% increase from the $4.50 paid earlier in the year.
All 32 large US banks pass the Fed's 2026 stress test
The Federal Reserve said on June 24, 2026 that all 32 large banks passed its annual stress test under a severe recession scenario.
Goldman agrees to pay $500 million to settle 1MDB shareholder class action
A court filing disclosed on May 20, 2026 that Goldman Sachs agreed to pay $500 million to settle a shareholder class action over its role in the 1MDB scandal.
Goldman Sachs Asset Management launches two active fixed income UCITS ETFs in Europe
Goldman Sachs Asset Management launched two actively managed fixed income UCITS ETFs on April 24, 2026: the Global Credit Plus Active UCITS ETF and the Global Income Bond Opportunities Active UCITS ETF.
Goldman Sachs Q1 2026 EPS $17.55 on record equities; FICC down to $4.01 billion
Goldman Sachs reported first-quarter 2026 net revenues of $17.23 billion and diluted EPS of $17.55 on April 13, 2026.
Goldman Sachs closes Innovator Capital Management, adding $31 billion of ETFs
Goldman Sachs closed its acquisition of Innovator Capital Management on April 2, 2026.
Goldman Sachs makes $42.5 million minority investment in GeoWealth
Goldman Sachs Asset Management invested $42.5 million in GeoWealth as an extension of the wealth technology company's Series C round, announced March 19, 2026.
Goldman general counsel Kathy Ruemmler to step down over Epstein ties
Goldman's chief legal officer and general counsel Kathy Ruemmler said on February 13, 2026 that she would step down after Justice Department releases showed a close relationship with Jeffrey Epstein.
Goldman Sachs builds Claude-based agents with Anthropic for back-office work
In a CNBC interview reported on February 6, 2026, Goldman's chief information officer Marco Argenti said the bank has spent about six months working with embedded Anthropic engineers on autonomous agents built on Claude.
Goldman Sachs reports Q4 2025 EPS of $14.01 and raises dividend to $4.50
Goldman Sachs reported fourth-quarter 2025 net revenues of $13.45 billion and diluted EPS of $14.01 on January 15, 2026.
Apple and Chase say Chase will become the new Apple Card issuer
Apple announced on January 7, 2026 that JPMorgan Chase will replace Goldman Sachs Bank USA as the issuer of the Apple Card, with an expected transition of about 24 months.
Goldman Sachs closes its acquisition of Industry Ventures
Goldman Sachs announced on January 5, 2026 that it had closed its acquisition of Industry Ventures, a venture capital platform.
SEC filings
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 13, 26 | 8-K | 8-K: Results of Operations, Regulation FD Disclosure (Items 2.02, 7.01) | sec.gov ↗ |
| Oct 13, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 9, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
| Oct 9, 26 | FWP | FWP: Free writing prospectus | sec.gov ↗ |
| Oct 9, 26 | 424B2 | 424B2: Prospectus supplement | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-08-28 | LESLIE ERICKA T Chief Administrative Officer | Sale | 600 | $1033.80 | $620.3K |
| 2026-08-04 | LESLIE ERICKA T Chief Administrative Officer | Sale | 175 | $1053.97 | $184.4K |
| 2026-07-15 | LESLIE ERICKA T Chief Administrative Officer | Sale | 250 | $1151.80 | $288.0K |
| 2026-05-14 | COLEMAN DENIS P. Chief Financial Officer | Sale | 6.9K | $973.55 | $6.7M |
| 2026-05-06 | Ruemmler Kathryn H. Chief Legal Officer, GC | Sale | 14.3K | $939.07 | $13.4M |
| 2026-05-01 | Ruemmler Kathryn H. Chief Legal Officer, GC | Sale | 683 | $929.62 | $634.9K |
| 2026-05-01 | FREDMAN SHEARA J Chief Accounting Officer | Sale | 10.3K | $929.17 | $9.6M |
| 2026-05-01 | SOLOMON DAVID M Chairman of the Board and CEO, Director | Sale | 3.5K | $930.70 | $3.2M |
| 2026-04-23 | GOLTEN ALEX S CHIEF RISK OFFICER | Sale | 1.1K | $936.18 | $1.0M |
| 2026-04-17 | GOLTEN ALEX S CHIEF RISK OFFICER | Sale | 1.1K | $919.19 | $1.0M |
| 2026-02-11 | ROGERS JOHN F.W. Executive Vice President | Sale | 15.9K | $959.37 | $15.2M |
| 2026-02-09 | GOLTEN ALEX S CHIEF RISK OFFICER | Sale | 2.3K | $935.01 | $2.1M |
| 2026-02-09 | COLEMAN DENIS P. Chief Financial Officer | Sale | 11.6K | $941.57 | $10.9M |
| 2026-01-29 | SOLOMON DAVID M Chairman of the Board and CEO, Director | Sale | 272 | $938.92 | $255.4K |
| 2026-01-27 | HALIO CAREY Global Treasurer | Sale | 2.8K | $927.17 | $2.6M |
| 2026-01-23 | HALIO CAREY Global Treasurer | Sale | 1.8K | $920.62 | $1.6M |
| 2026-01-23 | FREDMAN SHEARA J Chief Accounting Officer | Sale | 4.9K | $923.75 | $4.5M |
| 2026-01-23 | Ruemmler Kathryn H. Chief Legal Officer, GC | Sale | 9.6K | $927.51 | $8.9M |
| 2026-01-16 | VINIAR DAVID A Director | Sale | 64.8K | $965.00 | $62.5M |
| 2026-01-16 | VINIAR DAVID A Director | Sale | 3.4K | $971.13 | $3.3M |