Goldman Sachs reported a strong full-year 2025 with significant revenue growth driven by Global Banking & Markets, despite a notable drag from Platform Solutions. The firm also saw a substantial increase in EPS and a dividend raise, indicating positive financial performance and shareholder returns.
Full Year 2025 Net Revenues increased 9% to $58.28 billion.
positiveFull Year 2025 Net Earnings increased to $17.18 billion.
positiveDiluted EPS for Full Year 2025 was $51.32, up from $40.54 in 2024.
positiveQuarterly Dividend increased to $4.50 per common share.
positiveGlobal Banking & Markets net revenues increased 18% for the full year and 22% for Q4.
positiveAsset & Wealth Management net revenues increased 2% for the full year and 7% for Q4.
positiveReturn on average common shareholders' equity (ROE) was 15.0% for 2025 and annualized 16.0% for Q4 2025.
positiveBook value per common share increased by 6.2% during 2025.
positivePlatform Solutions net revenues were significantly lower, down 93% for the full year and negative $(1.68) billion in Q4 due to markdowns on the Apple Card portfolio.
negativeQ4 2025 Net Revenues were 3% lower than Q4 2024 and 11% lower than Q3 2025.
attentionInvestments net revenues in Asset & Wealth Management decreased by 50% for the full year.
negativeOperating expenses were 11% higher for the full year and 18% higher for Q4 compared to the prior year.
attentionMargin metrics will be available once backend extracts data from insights_json
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
GLOBAL BANKING & MARKETS | $41453000.0B | $35067000.0B | +18.0% | 71.1% |
ASSET & WEALTH MANAGEMENT | $16679000.0B | $16316000.0B | +2.0% | 28.6% |
PLATFORM SOLUTIONS | $151000.0B | $2129000.0B | -93.0% | 0.3% |
| Total Revenue | $58283000.0B | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
The firm returned $16.78 billion of capital to common shareholders in 2025, including $12.36 billion of common share repurchases.
Global core liquid assets averaged $466 billion for 2025.
The Board of Directors increased the quarterly dividend to $4.50 per common share.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.