Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q1 2022 Earnings Presentation
16 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Apr 14, 2022
Slide 1: First Quarter 2022 Earnings Results Presentation
Exhibit 99.2 First Quarter 2022 Earnings Results Presentation April 14, 2022
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS $3.94 billion $10.76 $12.93 billion 1 1 Annualized ROE Annualized ROTE Book Value Per Share $293.31 (+3.1% YTD) 15.0% 15.8% Highlights Strong quarterly firmwide net revenues, net earnings & EPS Record Consumer & Wealth Management net revenues 3,4,7 Firm
Slide 3: Financial Overview
Financial Overview Financial Results Financial Overview Highlights n 1Q22 results included EPS of $10.76 and ROE of 15.0% $ in millions, vs. vs. except per share amounts 1Q22 4Q21 1Q21 — 1Q22 net revenues were significantly lower compared with a record prior year period Investment Banking $ 2,411 (3
Slide 4: Investment Banking Financial Results
Investment Banking Financial Results Investment Banking Highlights vs. vs. n 1Q22 net revenues were significantly lower compared with a strong prior year period $ in millions 1Q22 4Q21 1Q21 — Financial advisory net revenues were essentially unchanged Financial advisory $ 1,127 (31)% 1% — Underwritin
Slide 5: Global Markets Financial Results
Global Markets Financial Results Global Markets Highlights vs. vs. n 1Q22 net revenues were higher YoY $ in millions 1Q22 4Q21 1Q21 — FICC net revenues were significantly higher, reflecting higher net revenues in FICC $ 4,723 154% 21% intermediation and significantly higher net revenues in financing
Slide 6: Global Markets – FICC & Equities
Global Markets – FICC & Equities FICC Net Revenues Equities Net Revenues vs. vs. vs. vs. $ in millions $ in millions 1Q22 4Q21 1Q21 1Q22 4Q21 1Q21 $ 2,161 66% (16)% FICC intermediation $ 4,038 210% 17% Equities intermediation Equities financing 988 21% (10)% FICC financing 685 23% 55% $ 4,723 154% 2
Slide 7: Asset Management Financial Results
Asset Management Financial Results Asset Management Highlights vs. vs. n 1Q22 net revenues were significantly lower YoY as broad macroeconomic and geopolitical $ in millions 1Q22 4Q21 1Q21 concerns led to volatility in global equity prices and wider credit spreads — Management and other fees reflect
Slide 8: Asset Management – Asset Mix
Asset Management – Asset Mix 4 4 Lending and Debt Investments of $26 billion Equity Investments of $18 billion ~$14 billion Private, ~$4 billion Public 4% 4% 16% By Vintage By Region 7% 28% 37% 60% 10% 2019-thereafter Americas By Industry Loan Portfolio $13 billion 29% 19% Loans 2016-2018 Asia 11% 3
Slide 9: Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio
Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio Since Investor Day 2020 Significant progress in asset sales over the past 2+ years, offset by mark-ups Rollforward ($ in billions) ~$(19) ~$7 ~$8 $22 $18 Net Dispositions: ~$(12) 6 YE19 Equity Investments Mark-Ups Additions Dis
Slide 10: Consumer & Wealth Management Financial Results
Consumer & Wealth Management Financial Results Consumer & Wealth Management Highlights vs. vs. n 1Q22 net revenues were a record and higher YoY $ in millions 1Q22 4Q21 1Q21 — Wealth management net revenues were higher, reflecting the impact of higher average AUS and higher loan balances Management a
Slide 11: Asset Management and Consumer & Wealth Management Details
Asset Management and Consumer & Wealth Management Details 3,4 3,4 Firmwide Assets Under Supervision Highlights n Firmwide AUS decreased $76 billion during the quarter, as Asset Management AUS decreased $ in billions 1Q22 4Q21 1Q21 $63 billion and Consumer & Wealth Management AUS decreased $13 billio
Slide 12: Net Interest Income and Loans
Net Interest Income and Loans 4 Loans Net Interest Income by Segment ($ in millions) Metrics $ in billions 1Q22 4Q21 1Q21 Corporate $ 58 $ 56 $ 48 $1,827 $1,795 2.7% 45 44 36 ALLL to Total Wealth management $1,482 Gross Loans, at Amortized Cost $728 Commercial real estate 29 26 21 $845 15 16 9 Resid
Slide 13: Expenses
Expenses Financial Results Expense Highlights n 1Q22 total operating expenses decreased YoY vs. vs. — Compensation and benefits expenses were significantly lower, and expenses related to 1Q22 4Q21 1Q21 $ in millions consolidated investments and charitable contributions to GS Gives and the firm’s fou
Slide 14: Capital and Balance Sheet
Capital and Balance Sheet 3,4 Capital Capital and Balance Sheet Highlights n Standardized CET1 capital ratio increased QoQ $ in billions 1Q22 4Q21 1Q21 — Increase in CET1 capital reflected net earnings in excess of share repurchases and dividends Common Equity Tier 1 (CET1) capital $ 98.3 $ 96.3 $ 8
Slide 15: 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 16: Footnotes
Footnotes 1. Annualized return on average common shareholders’ equity (ROE) is calculated by dividing annualized net earnings applicable to common shareholders by average monthly common shareholders’ equity. Annualized return on average tangible common shareholders’ equity (ROTE) is calculated by di