The Goldman Sachs Group, Inc. (GS)财务
NYSE · Financial Services · Financial - Capital Markets · 员工47,400人 · CEO David Michael Solomon
- 股价
- $894.55 -3.58%
- 市值
- $2600亿
- 企业价值
- $9220亿
- 最近财报
- Q3 '26 2026-10-13提交
- 下次财报
- 2027-01-19
营收(TTM)$1230亿-2.9% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)25.0%+8.3 百分点 对比去年同期营业利润 $309亿
净利润(TTM)$222亿+33.0% 对比去年同期税后,含营业外收益
自由现金流(TTM)-$436亿-376.7% 对比去年同期资本支出 $16亿
稀释EPS(TTM)$69.54+41.1% 对比去年同期最近4个季度之和
净现金$1700亿+214.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $2600亿 EV $9220亿
- 营收
- $1230亿 过去12个月
- 营收增速
- – 下一财年
- 净利润率
- 18.0% 净利润 / 营收,TTM
- P/E
- 12.7×
- P/S
- 2.1× 股价 / 营收,TTM
- EV / EBITDA
- 27.9× TTM
- 自由现金流
- -$436亿 过去12个月
- 净利润
- $222亿 过去12个月
- 营收预期
- – 下一财年
- 盈利
- 2027-01-19
- 股息
- $17.00 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 营收增长加速:同比17.3%Q3 '26营收$377亿,此前四个季度的平均值为-6.8%。
- 营业利润率25.0%(TTM),较去年同期+8.3 百分点营收增长-2.9%,营业利润增长45.2%。
- 税前利润的10.6%被营业外亏损吞噬税前利润$279亿,营业利润$309亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的1.3%(去年为1.7%)最近4个季度投入$16亿(同比-24.6%)。自由现金流-$436亿,相当于净利润的-196.8%。
- 稀释股数一年内减少4.4%Q3 '26稀释股数3.01亿,一年前为3.15亿。
- 净现金 $1700亿现金 + 短期投资 $1.01万亿,含租赁债务 $8390亿;一年前净债务 $1490亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $377亿 | $322亿 | +17.3% |
| 毛利率 | 48.6% | 46.2% | +2.4 百分点 |
| 营业利润 | $70亿 | $53.9亿 | +29.9% |
| 营业利润率 | 18.6% | 16.8% | +1.8 百分点 |
| 净利润 | $52.9亿 | $41亿 | +29.2% |
| 稀释EPS | $17.01 | $12.25 | +38.9% |
| 经营现金流 | $0 | $26.8亿 | -100.0% |
| 资本支出 | $0 | $5.58亿 | -100.0% |
| 自由现金流 | $0 | $21.2亿 | -100.0% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $2.37亿 | -100.0% |
营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q4 '25 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Global Markets | $206亿 | +143.3% | 69.1% | – | – | |
| Investment Management | $92.2亿 | +95.3% | 30.9% | – | – | |
| Platform Solutions | $0 | -100.0% | 0.0% | – | – |
按地区划分的营收
占总额比例| 分部 | Q4 '25 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Americas | $177亿 | +94.6% | 61.8% | – | – | |
| EMEA | $68.5亿 | +147.1% | 23.9% | – | – | |
| Asia | $40.9亿 | +104.4% | 14.3% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- -$420亿
- 资本支出
- -$16亿
- 股票回购
- -$120亿
- 股息
- -$46.5亿
- 收购
- -$17.8亿
- 债务净发行
- $1010亿
- 股权激励费用
- $32.3亿
- 自由现金流
- -$436亿
- 股东回报 / FCF
- -38.2%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 12.7× | 13.0× | 6.3× – 16.9× |
| EV / EBITDA | 27.9× | 24.5× | 12.4× – 30.3× |
| EV / 营收 | 7.5× | 5.0× | 4.4× – 5.8× |
| 股价 / FCF | -6.0× | 53.3× 5年中的2年 | 24.4× – 82.2× |
| 股价 / 净资产 | 2.1× | 1.4× | 1.0× – 2.2× |
| FCF收益率 | -16.8% | -6.3% | -17.2% – 4.1% |
| 投入资本回报率 | 2.5% | 1.9% | 1.0% – 3.0% |
| 净资产收益率 | 17.9% | 12.4% | 7.3% – 19.7% |
分析师
一致目标价 $1,130.75 (+26.4%)
区间 $942.00 – $1,325.00 · 评级 Hold
强烈买入0
买入23
持有29
卖出3
强烈卖出0
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
The Goldman Sachs Group, Inc.在近期10-Q / 10-K文件中标记的全部407项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| 100.0% | – | – | – | – | – | |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $158亿 | $146亿 | +8.5% | $152亿 | $136亿 | +11.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$28.6亿 | -$19.9亿 | -43.9% | -$22.6亿 | -$27亿 | +16.4% |
| Additional Paid in Capital | $621亿 | $619亿 | +0.4% | $619亿 | $614亿 | +0.9% |
| Affordable Housing Tax Credits and Other Tax Benefits, Amount | $1.78亿 | $1.64亿 | +8.5% | $5.2亿 | $4.52亿 | +15.0% |
| Alternative Investment | $17.5亿 | $20.2亿 | -13.4% | $17.4亿 | $25.5亿 | -31.7% |
| Amortization Method Qualified Affordable Housing Project Investments | $42.1亿 | $34.7亿 | +21.2% | $41.2亿 | $34.6亿 | +19.3% |
| Amortization Method Qualified Affordable Housing Project Investments, Amortization | $1.42亿 | $1.28亿 | +10.9% | $4.4亿 | $3.81亿 | +15.5% |
| Amortization of Intangible Assets | $4000万 | $2200万 | +81.8% | $8300万 | $1.76亿 | -52.8% |
| Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | $1170亿 | $1070亿 | +9.4% | $1090亿 | $985亿 | +11.2% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 30万 | 10万 | +200.0% | 10万 | 10万 | 0.0% |
| Assets | $2.13万亿 | $1.79万亿 | +19.2% | $1.81万亿 | $1.68万亿 | +8.0% |
| Assets, Fair Value Disclosure | $1.16万亿 | $9680亿 | +19.6% | $9640亿 | $9080亿 | +6.2% |
| AssetsAverageOutstanding | – | – | – | $1.58万亿2023-12-31 | $1.5万亿 | +5.3% |
| Banking Regulation, Common Equity Tier One Risk-Based Capital, Actual | – | – | – | $1030亿2024-12-31 | $994亿 | +3.6% |
| Banking Regulation, Global Systemically Important Bank (GSIB) Surcharge | 3.0%2025-12-31 | – | – | 3.0% | – | – |
| Banking Regulation, Leverage Buffer, Minimum | 2.0%2025-12-31 | 2.0% | 0.0% | 2.0% | 2.0% | 0.0% |
| Banking Regulation, Supplementary Leverage Ratio, Actual | 4.3% | 5.3% | -18.9% | 5.2% | 5.5% | -5.5% |
| Banking Regulation, Supplementary Leverage Ratio, Capital Adequacy, Minimum | 3.0% | 3.0% | 0.0% | 3.0% | 3.0% | 0.0% |
| Banking Regulation, Supplementary Leverage Ratio, Well Capitalized, Minimum | 3.8% | 5.0% | -25.0% | 5.0% | 5.0% | 0.0% |
| Banking Regulation, Tier One Leverage Capital Ratio, Actual | 5.4% | 6.7% | -19.4% | 6.6% | 6.8% | -2.9% |
| Banking Regulation, Tier One Leverage Capital Ratio, Capital Adequacy, Minimum | 4.0% | 4.0% | 0.0% | 4.0% | 4.0% | 0.0% |
| Banking Regulation, Tier One Leverage Capital, Actual | $1140亿 | $1170亿 | -2.6% | $1190亿 | $1160亿 | +2.9% |
| Banking Regulation, Tier One Risk-Based Capital, Actual | – | – | – | $1160亿2024-12-31 | $1100亿 | +4.9% |
| Broker-Dealer, Payable to Other Broker-Dealer and Clearing Organization | $273亿 | $281亿 | -3.0% | $74.1亿 | $61.1亿 | +21.3% |
| Brokerage Commissions Revenue | $15.3亿 | $12亿 | +27.0% | $40.4亿 | $40.9亿 | -1.1% |
| Business Development | $1.98亿 | $1.67亿 | +18.6% | $7.1亿 | $6.46亿 | +9.9% |
| Cash and Cash Equivalents, at Carrying Value | $1870亿 | $1530亿 | +22.4% | $1640亿 | $1820亿 | -9.8% |
| Cash and Due from Banks | $72.1亿 | $78.2亿 | -7.8% | $65.2亿 | $53.6亿 | +21.6% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $0 | – | – | $0 | – | – |
| Cash Flows Between Transferor and Transferee, Beneficial Interest | $3.1亿 | $2.26亿 | +37.2% | $7.83亿 | $7.22亿 | +8.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $1870亿 | $1530亿 | +22.4% | $1640亿 | $1820亿 | -9.8% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $77.4亿 | -$144亿 | +153.6% | -$178亿 | -$595亿 | +70.0% |
| Collateral Already Posted, Aggregate Fair Value | $565亿 | $205亿 | +174.7% | $362亿 | $203亿 | +78.7% |
| Common Stock, Dividends, Per Share, Declared | $4.50 | $3.00 | +50.0% | $14.00 | $11.50 | +21.7% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 40亿 | 40亿 | 0.0% | 40亿 | 40亿 | 0.0% |
| Common Stock, Shares, Issued | 9.36亿 | 9.32亿 | +0.5% | 9.32亿 | 9.27亿 | +0.5% |
| Common Stock, Shares, Outstanding | 2.91亿 | 3.03亿 | -3.8% | 2.96亿 | 3.11亿 | -4.6% |
| Common Stock, Value, Issued | $900万 | $900万 | 0.0% | $900万 | $900万 | 0.0% |
| Communications and Information Technology | $6.35亿 | $5.3亿 | +19.8% | $21.7亿 | $19.9亿 | +9.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $56.8亿 | $38.1亿 | +49.3% | $176亿 | $145亿 | +21.6% |
| Consideration Received for Beneficial Interest Obtained for Transferring Financial Asset | $2.04亿 | $2.1亿 | -2.9% | $7.62亿 | $3.64亿 | +109.3% |
| Continuing Involvement with Transferred Financial Assets, Principal Amount Outstanding | $2060亿 | $1640亿 | +25.8% | $1930亿 | $1390亿 | +39.0% |
| Contract with Customer, Liability | $1.83亿 | $1.41亿 | +29.8% | $1.32亿 | $0 | – |
| Credit Derivative, Maximum Exposure, Undiscounted | $1.06万亿 | $8140亿 | +30.7% | $8300亿 | $6010亿 | +38.0% |
| Credit Derivative, Purchased Credit Protection | -$677亿 | -$15.8亿 | -4,192.3% | $9150亿 | $6780亿 | +35.0% |
| Credit Risk Derivative Assets, at Fair Value | $117亿 | – | – | $102亿 | $71.8亿 | +42.1% |
| Credit Risk Derivative Liabilities, at Fair Value | $32.3亿 | – | – | $35亿 | $27.4亿 | +27.5% |
| Credit Risk Derivatives, at Fair Value, Net | $84.5亿 | – | – | $67.1亿 | $44.4亿 | +51.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $11.2亿 | $20亿 | -44.0% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $27.8亿 | $22.6亿 | +22.9% |
| Current Income Tax Expense (Benefit) | – | – | – | $44.7亿 | $49.2亿 | -9.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $5.71亿 | $6.59亿 | -13.4% |
| Debt Securities | $101亿 | $113亿 | -10.3% | $111亿 | $115亿 | -3.3% |
| Debt Securities, Available-for-sale | $1560亿 | $1030亿 | +50.5% | $992亿 | $795亿 | +24.9% |
| Debt Securities, Available-for-sale, Amortized Cost | $1570亿 | $1040亿 | +50.9% | $991亿 | $808亿 | +22.7% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $157亿 | $189亿 | -17.0% | $141亿 | $211亿 | -33.0% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $5.11亿 | $6.49亿 | -21.3% | $4.84亿 | $9.83亿 | -50.8% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $881亿 | $429亿 | +105.3% | $82.4亿 | $327亿 | -74.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30
数据截至 2026-11-01