Financials The Goldman Sachs Group, Inc.

Equities

GS

US38141G1040

Investment Banking & Brokerage Services

Market Closed - Nyse Other stock markets 21:00:02 06/03/2026 GMT			5-day change	1st Jan Change
821.42 ^USD	-1.68%		-4.44%	-6.55%

03-06	Goldman Sachs warns oil may surge above $100/bbl if Hormuz flows don't recover	RE
03-06	Qualtrics $5.3 billion debt sale to test appetite for software bonds, loans	RE

Projected Income Statement: The Goldman Sachs Group, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	59,339	47,365	46,524	53,512	58,283	63,969	67,010	67,819
Change	-	-20.18%	-1.78%	15.02%	8.92%	9.76%	4.75%	1.21%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	27,401	16,201	12,037	19,745	20,739	24,190	25,380	25,080
Change	-	-40.87%	-25.7%	64.04%	5.03%	16.64%	4.92%	-1.18%
Interest Paid	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	27,044	13,486	10,739	18,397	21,852	23,658	25,415	26,445
Change	-	-50.13%	-20.37%	71.31%	18.78%	8.26%	7.43%	4.05%
Net income ¹	21,151	10,764	7,907	13,525	16,300	17,963	19,341	20,152
Change	-	-49.11%	-26.54%	71.05%	20.52%	10.2%	7.67%	4.2%
Announcement Date	18/01/22	17/01/23	16/01/24	15/01/25	15/01/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	17,704	15,388	13,608	12,639	12,933	11,864	11,975	10,593	12,224	10,895	11,817	11,318	14,213	12,731	12,699	13,869	15,062	14,583	15,184	13,454	16,657	16,021	15,825	15,822	17,481	16,781	16,680	16,682
Change	-	-13.08%	-11.57%	-7.12%	2.33%	-8.27%	0.94%	-11.54%	15.4%	-10.87%	8.46%	-4.22%	25.58%	-10.43%	-0.25%	9.21%	8.6%	-3.18%	4.12%	-11.39%	23.81%	-3.82%	-1.23%	-0.02%	10.49%	-4.01%	-0.6%	0.01%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	8,267	6,748	7,017	5,369	5,217	4,211	4,271	2,502	3,822	2,351	2,763	2,831	5,555	4,198	4,384	5,608	5,934	5,342	5,731	3,732	6,698	5,817	6,096	6,121	7,005	6,270	6,559	6,474
Change	-	-18.37%	3.99%	-23.49%	-2.83%	-19.28%	1.42%	-41.42%	52.76%	-38.49%	17.52%	2.46%	96.22%	-24.43%	4.43%	27.92%	5.81%	-9.98%	7.28%	-34.88%	79.47%	-13.15%	4.8%	0.41%	14.44%	-10.49%	4.61%	-1.3%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	8,337	6,840	6,842	5,025	4,656	3,544	3,756	1,530	3,993	1,736	2,756	2,254	5,237	3,916	3,987	5,257	5,647	4,958	5,392	5,855	6,296	5,866	5,803	5,840	6,836	6,179	6,235	6,235
Change	-	-17.96%	0.03%	-26.56%	-7.34%	-23.88%	5.98%	-59.27%	160.98%	-56.52%	58.76%	-18.21%	132.34%	-25.22%	1.81%	31.85%	7.42%	-12.2%	8.75%	8.59%	7.53%	-6.82%	-1.08%	0.63%	17.05%	-9.61%	0.91%	-0.01%
Net income ¹	6,711	5,347	5,284	3,809	3,831	2,786	2,962	1,185	3,087	1,071	1,882	1,867	3,931	2,891	2,780	3,923	4,583	3,473	3,860	4,384	4,885	4,405	4,374	4,391	5,295	4,716	4,782	4,780
Change	-	-20.32%	-1.18%	-27.91%	0.58%	-27.28%	6.32%	-59.99%	160.51%	-65.31%	75.72%	-0.8%	110.55%	-26.46%	-3.84%	41.12%	16.82%	-24.22%	11.14%	13.58%	11.42%	-9.83%	-0.69%	0.39%	20.58%	-10.94%	1.42%	-0.06%
Announcement Date	14/04/21	13/07/21	15/10/21	18/01/22	14/04/22	18/07/22	18/10/22	17/01/23	18/04/23	19/07/23	17/10/23	16/01/24	15/04/24	15/07/24	15/10/24	15/01/25	14/04/25	16/07/25	14/10/25	15/01/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: The Goldman Sachs Group, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	270,000	221,000	400,000	484,000	497,000	375,545	389,543	404,015
Change	-	-18.15%	81%	21%	2.69%	-24.44%	3.73%	3.72%
Announcement Date	18/01/22	17/01/23	16/01/24	15/01/25	15/01/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: The Goldman Sachs Group, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025
CAPEX ¹	6,309	4,667	3,748	2,316	2,091	2,064
Change	-	-26.03%	-19.69%	-38.21%	-9.72%	-1.29%
Free Cash Flow (FCF) ¹	-	-	-	-	-	-
Change	-	-	-	-	-	-
Announcement Date	22/02/21	25/02/22	24/02/23	23/02/24	27/02/25	25/02/26

¹USD in Million

Estimates

Forecast Financial Ratios: The Goldman Sachs Group, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-
EBIT Margin (%)	46.18%	34.2%	25.87%	36.9%	35.58%	37.81%	37.88%	36.98%
EBT Margin (%)	45.58%	28.47%	23.08%	34.38%	37.49%	36.98%	37.93%	38.99%
Net margin (%)	35.64%	22.73%	17%	25.27%	27.97%	28.08%	28.86%	29.72%
FCF margin (%)	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-
Profitability
ROA	1.61%	0.74%	0.51%	0.82%	0.94%	0.97%	0.98%	0.95%
ROE	23%	10.2%	7.5%	12.7%	15%	16.28%	17.16%	17.73%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	-	-	-	-	-
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	6.5	9	10.5	11.75	-	18.4	19.78	22
Change	-	38.46%	16.67%	11.9%	-	-	7.51%	11.25%
Book Value Per Share ¹	284.4	303.6	313.6	336.8	357.6	375.6	398.2	426.5
Change	-	6.74%	3.3%	7.4%	6.19%	5.03%	6.02%	7.09%
EPS ¹	59.45	30.06	22.87	40.54	51.32	58.36	65.12	70.97
Change	-	-49.44%	-23.92%	77.26%	26.59%	13.71%	11.58%	8.99%
Nbr of stocks (in thousands)	333,578	354,568	343,439	329,217	313,720	308,347	308,347	308,347
Announcement Date	18/01/22	17/01/23	16/01/24	15/01/25	15/01/26	-	-	-