Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q1 2026 Earnings Presentation
14 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Apr 13, 2026
Slide 1: First Quarter 2026 Earnings Results Presentation
First Quarter 2026 Earnings Results Presentation April 13, 2026
Slide 2: Results Snapshot
Results Snapshot “Goldman Sachs delivered very strong performance for our shareholders this quarter, even as market conditions became more volatile. Our clients continue to depend on us for high quality execution and insights amid the broader uncertainty, and we remain confident in how we’ve positio
Slide 3: Financial Overview
Financial Overview Financial Results Financial Overview Highlights ■ 1Q26 results included EPS1 of $17.55 and ROE of 19.8% $ in millions, vs. vs. — Net revenues were higher YoY, primarily reflecting higher net revenues in Global Banking & Markets except per share amounts 1Q26 4Q25 1Q25 — Provision f
Slide 4: Global Banking & Markets
Global Banking & Markets Financial Results Global Banking & Markets Highlights ■ 1Q26 net revenues were higher YoY vs. vs. — Investment banking fees reflected significantly higher net revenues in Advisory and Equity $ in millions 1Q26 4Q25 1Q25 underwriting and higher net revenues in Debt underwriti
Slide 5: Global Banking & Markets – Net Revenues
Global Banking & Markets – Net Revenues Net Revenues Global Banking & Markets Net Revenues Highlights ■ 1Q26 Investment banking fees were significantly higher YoY vs. vs. — Advisory reflected a significant increase in completed mergers and acquisitions volumes $ in millions 1Q26 4Q25 1Q25 — Equity u
Slide 6: Asset & Wealth Management
Asset & Wealth Management Financial Results Asset & Wealth Management Highlights ■ 1Q26 net revenues were higher YoY vs. vs. — Management and other fees primarily reflected the impact of higher average AUS $ in millions 1Q26 4Q25 1Q25 — Incentive fees YoY were primarily driven by performance Managem
Slide 7: Asset & Wealth Management – Assets Under Supervision
Asset & Wealth Management – Assets Under Supervision AUS Highlights4 AUS by Asset Class4 ■ During the quarter, AUS increased $44 billion to a record $3.65 trillion 1Q26 4Q25 1Q25 $ in billions — Net inflows across all asset classes Alternative investments $ 429 $ 420 $ 355 — Net market depreciation
Slide 8: Asset & Wealth Management – Alternative Investments
Asset & Wealth Management – Alternative Investments Alternative Investments Highlights4 On-Balance Sheet Alternative Investments4 ■ 1Q26 Management and other fees from alternative investments were $597 million, up 13% compared with 1Q25 $ in billions 1Q26 ■ During the quarter, alternative investment
Slide 9: Platform Solutions
Platform Solutions Financial Results Platform Solutions Highlights ■ 1Q26 net revenues were significantly lower YoY, primarily reflecting net markdowns recognized in net revenues related to the Apple Card loan portfolio, which was transferred to held for sale in 2025 vs. vs. $ in millions 1Q26 4Q25
Slide 10: Loans and Net Interest Income
Loans and Net Interest Income Loans and Net Interest Income Highlights4 Loans by Segment4 ($ in billions) ■ 1Q26 loans increased QoQ $253 — Gross loans by type: $228 billion - amortized cost, $4 billion - fair value, $23 billion - held for sale $238 — Average loans of $245 billion $210 — Total allow
Slide 11: Expenses
Expenses Financial Results Expense Highlights ■ 1Q26 total operating expenses were higher YoY vs. vs. — Non-compensation expenses were higher, primarily reflecting significantly higher transaction based $ in millions 1Q26 4Q25 1Q25 expenses — Compensation and benefits expenses were higher, reflectin
Slide 12: Capital and Balance Sheet
Capital and Balance Sheet Capital and Balance Sheet Highlights4 Selected Balance Sheet Data4 ■ Both Standardized and Advanced CET1 capital ratios decreased QoQ, primarily reflecting an increase in credit and market RWAs and a decrease in CET1 capital $ in billions 1Q26 4Q25 ■ SLR decreased QoQ, prim
Slide 13: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current con
Slide 14: Footnotes
Footnotes 1. Diluted EPS includes the effect of instruments that are convertible into common shares if such conversion would be dilutive. The impact of applying this was a reduction in diluted EPS of $0.02 for the three months ended March 31, 2026. 2. Annualized return on average common shareholders
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