Goldman Sachs Group annual free cash flow
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2025
Goldman Sachs Group Free Cash Flow (FCF) History (GS)
Goldman Sachs Group reported −$47.22B in free cash flow for fiscal 2025, a decrease of $31.91B from the previous fiscal year, with a free cash flow margin of −81.02%.
View full Goldman Sachs Group company overviewGoldman Sachs Group free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | −$47.22B | −$31.91B | — | −81.02% |
| 2024 | 2024-12-31 | −$15.30B | −$400.0M | — | −28.60% |
| 2023 | 2023-12-31 | −$14.90B | −$19.86B | — | −32.22% |
| 2022 | 2022-12-31 | $4.96B | $3.33B | +204.11% | +10.47% |
| 2021 | 2021-12-31 | $1.63B | $26.48B | — | +2.75% |
| 2020 | 2020-12-31 | −$24.84B | −$40.27B | — | −55.75% |
| 2019 | 2019-12-31 | $15.43B | $6.84B | +79.74% | +42.21% |
| 2018 | 2018-12-31 | $8.58B | $32.26B | — | +23.44% |
| 2017 | 2017-12-31 | −$23.67B | −$27.30B | — | −72.33% |
| 2016 | 2016-12-31 | $3.63B | −$4.02B | −52.55% | +11.79% |
| 2015 | 2015-12-31 | $7.65B | $16.26B | — | +22.61% |
| 2014 | 2014-12-31 | −$8.61B | −$12.45B | — | −24.94% |
| 2013 | 2013-12-31 | $3.84B | −$8.08B | −67.81% | +11.22% |
| 2012 | 2012-12-31 | $11.92B | −$9.40B | −44.09% | +34.89% |
| 2011 | 2011-12-31 | $21.32B | — | — | +73.99% |
Goldman Sachs Group quarterly free cash flow
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Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $5.60B | $407.0M | +7.83% | +27.55% |
| Q1 2026 | 2026-03-31 | −$32.43B | $5.30B | — | −188.27% |
| Q4 2025 | 2025-12-31 | −$16.81B | −$62.99B | — | −124.92% |
| Q3 2025 | 2025-09-30 | $2.12B | $40.65B | — | +13.98% |
| Q2 2025 | 2025-06-30 | $5.20B | −$382.0M | −6.85% | +35.63% |
| Q1 2025 | 2025-03-31 | −$37.73B | −$9.19B | — | −250.49% |
| Q4 2024 | 2024-12-31 | $46.18B | $75.08B | — | +332.97% |
| Q3 2024 | 2024-09-30 | −$38.53B | −$12.48B | — | −303.38% |
| Q2 2024 | 2024-06-30 | $5.58B | −$25.66B | −82.14% | +43.81% |
| Q1 2024 | 2024-03-31 | −$28.54B | −$37.34B | — | −200.77% |
| Q4 2023 | 2023-12-31 | −$28.90B | $5.01B | — | −255.38% |
| Q3 2023 | 2023-09-30 | −$26.04B | −$41.06B | — | −220.37% |
| Q2 2023 | 2023-06-30 | $31.23B | −$13.11B | −29.56% | +286.69% |
| Q1 2023 | 2023-03-31 | $8.81B | $29.29B | — | +72.05% |
| Q4 2022 | 2022-12-31 | −$33.92B | −$63.07B | — | −320.17% |
| Q3 2022 | 2022-09-30 | $15.02B | $55.16B | — | +125.43% |
| Q2 2022 | 2022-06-30 | $44.34B | $25.23B | +131.99% | +373.76% |
| Q1 2022 | 2022-03-31 | −$20.49B | −$13.99B | — | −158.41% |
| Q4 2021 | 2021-12-31 | $29.16B | $19.35B | +197.38% | +230.67% |
| Q3 2021 | 2021-09-30 | −$40.14B | −$74.08B | — | −295.00% |
| Q2 2021 | 2021-06-30 | $19.11B | $31.83B | — | +124.21% |
| Q1 2021 | 2021-03-31 | −$6.50B | $49.38B | — | −36.69% |
| Q4 2020 | 2020-12-31 | $9.80B | −$37.98B | −79.48% | +83.50% |
| Q3 2020 | 2020-09-30 | $33.94B | $26.39B | +349.81% | +314.79% |
| Q2 2020 | 2020-06-30 | −$12.71B | −$19.30B | — | −95.61% |
| Q1 2020 | 2020-03-31 | −$55.87B | −$9.38B | — | −639.07% |
| Q4 2019 | 2019-12-31 | $47.78B | $35.58B | +291.39% | +480.01% |
| Q3 2019 | 2019-09-30 | $7.54B | $15.05B | — | +90.65% |
| Q2 2019 | 2019-06-30 | $6.59B | $181.0M | +2.82% | +69.66% |
| Q1 2019 | 2019-03-31 | −$46.50B | −$43.97B | — | −527.94% |
| Q4 2018 | 2018-12-31 | $12.21B | $22.53B | — | +151.10% |
| Q3 2018 | 2018-09-30 | −$7.51B | −$9.53B | — | −85.15% |
| Q2 2018 | 2018-06-30 | $6.41B | $17.56B | — | +66.52% |
| Q1 2018 | 2018-03-31 | −$2.53B | $1.70B | — | −25.07% |
| Q4 2017 | 2017-12-31 | −$10.32B | −$4.93B | — | −121.59% |
| Q3 2017 | 2017-09-30 | $2.02B | $5.14B | — | +24.31% |
| Q2 2017 | 2017-06-30 | −$11.15B | −$19.83B | — | −141.32% |
| Q1 2017 | 2017-03-31 | −$4.23B | −$4.99B | — | −52.67% |
| Q3 2016 | 2016-09-30 | −$5.40B | $2.84B | — | −66.09% |
| Q1 2016 | 2016-03-31 | −$3.12B | −$9.55B | — | −49.15% |
| Q4 2015 | 2015-12-31 | $8.69B | $4.20B | +93.52% | +119.44% |
| Q3 2015 | 2015-09-30 | $763.0M | $9.82B | — | +11.12% |
| Q2 2015 | 2015-06-30 | −$8.24B | −$8.58B | — | −90.81% |
| Q1 2015 | 2015-03-31 | $6.43B | $10.82B | — | +60.60% |
| Q4 2014 | 2014-12-31 | $4.49B | $2.42B | +116.65% | +58.39% |
| Q3 2014 | 2014-09-30 | −$9.05B | −$5.51B | — | −107.95% |
| Q2 2014 | 2014-06-30 | $340.0M | −$10.83B | −96.96% | +3.73% |
| Q1 2014 | 2014-03-31 | −$4.38B | $1.48B | — | −47.01% |
| Q4 2013 | 2013-12-31 | $2.07B | — | — | +23.59% |
| Q3 2013 | 2013-09-30 | −$3.54B | — | — | −52.66% |
| Q2 2013 | 2013-06-30 | $11.17B | — | — | +129.75% |
| Q1 2013 | 2013-03-31 | −$5.87B | — | — | −58.17% |
Goldman Sachs Group free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from −$24.84B to −$47.22B, a net decrease of $22.37B. Goldman Sachs Group's latest reported quarter, Q2 2026, generated $5.60B in free cash flow, an increase of 7.83% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Goldman Sachs Group filings at SEC.gov ↗