Goldman Sachs Group annual return on equity
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2025
Goldman Sachs Group Return on Equity (ROE) Growth & History (GS)
Goldman Sachs Group's return on equity was 13.91% for fiscal 2025.
View full Goldman Sachs Group company overviewGoldman Sachs Group annual return on equity history
| Fiscal year | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 13.91% | +1.96 pp |
| 2024 | 2024-12-31 | 11.95% | +4.68 pp |
| 2023 | 2023-12-31 | 7.28% | −2.64 pp |
| 2022 | 2022-12-31 | 9.92% | −11.10 pp |
| 2021 | 2022-01-14 | 21.02% | +10.86 pp |
| 2020 | 2020-12-31 | 10.16% | +0.78 pp |
| 2019 | 2019-12-31 | 9.38% | −2.75 pp |
| 2018 | 2018-12-31 | 12.13% | +7.06 pp |
| 2017 | 2017-12-31 | 5.07% | −3.45 pp |
| 2016 | 2016-12-31 | 8.52% | +1.35 pp |
| 2015 | 2015-12-31 | 7.18% | −3.34 pp |
| 2014 | 2014-12-31 | 10.51% | +0.08 pp |
| 2013 | 2013-12-31 | 10.43% | +0.20 pp |
| 2012 | 2012-12-31 | 10.23% | +4.22 pp |
| 2011 | 2011-12-31 | 6.01% | −5.27 pp |
| 2010 | 2010-12-31 | 11.28% | −8.53 pp |
| 2009 | 2009-12-31 | 19.82% | — |
| 2008 | 2008-11-30 | 4.33% | — |
Goldman Sachs Group quarterly return on equity
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| Fiscal quarter | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 5.40% | +2.40 pp |
| Q1 2026 | 2026-03-31 | 4.54% | +0.70 pp |
| Q4 2025 | 2025-12-31 | 3.70% | +0.32 pp |
| Q3 2025 | 2025-09-30 | 3.30% | +0.81 pp |
| Q2 2025 | 2025-06-30 | 3.00% | +0.44 pp |
| Q1 2025 | 2025-03-31 | 3.85% | +0.34 pp |
| Q4 2024 | 2024-12-31 | 3.38% | +1.67 pp |
| Q3 2024 | 2024-09-30 | 2.48% | +0.72 pp |
| Q2 2024 | 2024-06-30 | 2.56% | +1.52 pp |
| Q1 2024 | 2024-03-31 | 3.51% | +0.75 pp |
| Q4 2023 | 2023-12-31 | 1.71% | +0.59 pp |
| Q3 2023 | 2023-09-30 | 1.76% | −0.86 pp |
| Q2 2023 | 2023-06-30 | 1.04% | — |
| Q1 2023 | 2023-03-31 | 2.76% | −0.74 pp |
| Q4 2022 | 2022-12-31 | 1.12% | −2.46 pp |
| Q3 2022 | 2022-09-30 | 2.62% | — |
| Q1 2022 | 2022-03-31 | 3.50% | −3.56 pp |
| Q4 2021 | 2022-01-14 | 3.58% | −1.20 pp |
| Q2 2021 | 2021-06-30 | 5.50% | — |
| Q1 2021 | 2021-03-31 | 7.06% | — |
| Q4 2020 | 2020-12-31 | 4.78% | +2.68 pp |
| Q3 2020 | 2020-09-30 | 3.68% | +1.63 pp |
| Q4 2019 | 2019-12-31 | 2.10% | −0.77 pp |
| Q3 2019 | 2019-09-30 | 2.05% | −0.86 pp |
| Q2 2019 | 2019-06-30 | 2.67% | −0.34 pp |
| Q1 2019 | 2019-03-31 | 2.49% | −0.92 pp |
| Q4 2018 | 2018-12-31 | 2.87% | +5.16 pp |
| Q3 2018 | 2018-09-30 | 2.91% | +0.45 pp |
| Q2 2018 | 2018-06-30 | 3.01% | +0.90 pp |
| Q1 2018 | 2018-03-31 | 3.42% | +0.82 pp |
| Q4 2017 | 2017-12-31 | −2.29% | −4.99 pp |
| Q3 2017 | 2017-09-30 | 2.46% | +0.05 pp |
| Q2 2017 | 2017-06-30 | 2.11% | +0.01 pp |
| Q1 2017 | 2017-03-31 | 2.59% | +1.29 pp |
| Q4 2016 | 2016-12-31 | 2.70% | +1.82 pp |
| Q3 2016 | 2016-09-30 | 2.41% | +0.79 pp |
| Q2 2016 | 2016-06-30 | 2.10% | +0.89 pp |
| Q1 2016 | 2016-03-31 | 1.31% | −2.08 pp |
| Q4 2015 | 2015-12-31 | 0.88% | −1.75 pp |
| Q3 2015 | 2015-09-30 | 1.63% | −1.15 pp |
| Q2 2015 | 2015-06-30 | 1.21% | — |
| Q1 2015 | 2015-03-31 | 3.39% | +0.81 pp |
| Q4 2014 | 2014-12-31 | 2.62% | −0.36 pp |
| Q3 2014 | 2014-09-30 | 2.78% | +0.83 pp |
| Q1 2014 | 2014-03-31 | 2.58% | −0.37 pp |
| Q4 2013 | 2013-12-31 | 2.99% | −0.88 pp |
| Q3 2013 | 2013-09-30 | 1.95% | −0.11 pp |
| Q2 2013 | 2013-06-30 | 2.49% | +1.16 pp |
| Q1 2013 | 2013-03-31 | 2.96% | −0.01 pp |
| Q4 2012 | 2012-12-31 | 3.87% | +2.43 pp |
| Q3 2012 | 2012-09-30 | 2.06% | +2.62 pp |
| Q2 2012 | 2012-06-30 | 1.33% | −0.17 pp |
| Q1 2012 | 2012-03-31 | 2.97% | −0.68 pp |
| Q4 2011 | 2011-12-31 | 1.44% | −1.68 pp |
| Q3 2011 | 2011-09-30 | −0.55% | −3.09 pp |
| Q2 2011 | 2011-06-30 | 1.50% | +0.67 pp |
| Q1 2011 | 2011-03-31 | 3.65% | −1.16 pp |
| Q4 2010 | 2010-12-31 | 3.12% | −4.15 pp |
| Q3 2010 | 2010-09-30 | 2.54% | −2.44 pp |
| Q2 2010 | 2010-06-30 | 0.84% | −4.57 pp |
| Q1 2010 | 2010-03-31 | 4.81% | — |
| Q4 2009 | 2009-12-31 | 7.27% | — |
| Q3 2009 | 2009-09-25 | 4.97% | — |
| Q2 2009 | 2009-06-26 | 5.40% | — |
Goldman Sachs Group return on equity trends
Over the last five fiscal years, Goldman Sachs Group's return on equity increased from 10.16% to 13.91%, a change of +3.75 percentage points. The latest reported quarter, Q2 2026, shows 5.40%.
About the metric
What return on equity (ROE) means
Return on equity (ROE) measures how much net income a company generates relative to shareholders’ equity. It can help evaluate how efficiently equity capital is used, but unusually high or negative values may reflect leverage, losses, or a small equity base.
Calculation and source
How return on equity is calculated
TickerStat calculates ROE as SEC-reported net income divided by average stockholders’ equity at the beginning and end of the fiscal period. Periods with missing or non-positive average equity are omitted. Quarterly ROE uses quarterly net income and is not annualized. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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