Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q2 2022 Earnings Presentation
16 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Jul 18, 2022
Slide 1: Second Quarter 2022 Earnings Results Presentation
Exhibit 99.2 Second Quarter 2022 Earnings Results Presentation July 18, 2022
Slide 2: Results Snapshot
Results Snapshot Net Revenues Net Earnings EPS 2Q22 $11.86 billion 2Q22 $2.93 billion 2Q22 $7.73 2Q22 YTD $24.80 billion 2Q22 YTD $6.87 billion 2Q22 YTD $18.47 1 1 Annualized ROE Annualized ROTE Book Value Per Share 2Q22 10.6% 2Q22 11.4% BVPS $301.88 2Q22 YTD 12.8% 2Q22 YTD 13.6% YTD Growth 6.2% Hig
Slide 3: Financial Overview
Financial Overview Financial Results Financial Overview Highlights vs. n 2Q22 results included EPS of $7.73 and ROE of 10.6% vs. vs. 2Q22 2Q21 $ in millions, except per share amounts 2Q22 1Q22 2Q21 YTD YTD — 2Q22 net revenues were significantly lower compared with a strong prior year period o Signif
Slide 4: Investment Banking
Investment Banking Financial Results Investment Banking Highlights vs. n 2Q22 net revenues were significantly lower compared with a strong prior year period vs. vs. 2Q22 2Q21 $ in millions 2Q22 1Q22 2Q21 YTD YTD — Financial advisory net revenues reflected a decrease in industry-wide completed merger
Slide 5: Global Markets
Global Markets Financial Results Global Markets Highlights vs. n 2Q22 net revenues were significantly higher YoY vs. vs. 2Q22 2Q21 $ in millions 2Q22 1Q22 2Q21 YTD YTD — FICC net revenues reflected significantly higher net revenues in both intermediation and financing FICC $ 3,607 (24)% 55% $ 8,330
Slide 6: Global Markets – FICC & Equities
Global Markets – FICC & Equities FICC Net Revenues Equities Net Revenues vs. vs. vs. vs. 2Q22 2Q21 vs. vs. 2Q22 2Q21 $ in millions $ in millions 2Q22 1Q22 2Q21 YTD YTD 2Q22 1Q22 2Q21 YTD YTD $ $ FICC intermediation 2,839 (30)% 50% $ 6,877 29% Equities intermediation 1,734 (20)% (2)% $ 3,895 (10)% FI
Slide 7: Asset Management
Asset Management Financial Results Asset Management Highlights vs. n 2Q22 net revenues were significantly lower YoY as macroeconomic concerns and the vs. vs. 2Q22 2Q21 prolonged war in Ukraine continued to contribute to volatility in global equity prices and wider $ in millions 2Q22 1Q22 2Q21 YTD YT
Slide 8: Asset Management – Asset Mix
Asset Management – Asset Mix 4 4 Equity Investments of $16 billion Lending and Debt Investments of $26 billion ~$13 billion Private, ~$3 billion Public 4% 5% 16% By Vintage By Region 7% 27% 40% 62% 10% 2019-thereafter Americas By Industry Loan Portfolio $13 billion 29% 20% Loans 2016-2018 Asia 11% 3
Slide 9: Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio
Asset Management – Harvesting Progress of Balance Sheet Equity Portfolio Significant progress in asset sales over the past 10 quarters, offset by mark-ups Rollforward ($ in billions) ~$7 ~$(20) ~$7 $22 $16 Net Dispositions: ~$(13) 7 YE19 Equity Investments Mark-Ups/(Mark-Downs) Additions Disposition
Slide 10: Consumer & Wealth Management
Consumer & Wealth Management Financial Results Consumer & Wealth Management Highlights vs. n 2Q22 net revenues were a record and significantly higher YoY vs. vs. 2Q22 2Q21 $ in millions 2Q22 1Q22 2Q21 YTD YTD — Wealth management net revenues were higher, reflecting higher placement fees, the impact
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 increased $101 billion during the quarter, as Asset Management AUS increased $ in billions 2Q22 1Q22 2Q21 $168 billion and Consumer & Wealth Management AUS decreased $67 bill
Slide 12: Net Interest Income and Loans
Net Interest Income and Loans 4 Loans Net Interest Income by Segment ($ in millions) Metrics $ in billions 2Q22 1Q22 2Q21 Corporate $ 62 $ 58 $ 48 $1,827 2.8% $1,734 $1,629 ALLL to Total Wealth management 48 45 40 Gross Loans, at Amortized Cost Commercial real estate 28 29 20 $845 $645 $974 Resident
Slide 13: Expenses
Expenses Expense Highlights Financial Results vs. n 2Q22 total operating expenses decreased YoY vs. vs. 2Q22 2Q21 — Compensation and benefits expenses were significantly lower 2Q22 1Q22 2Q21 YTD YTD $ in millions — Partially offset by higher non-compensation expenses, reflecting: Compensation and be
Slide 14: Capital and Balance Sheet
Capital and Balance Sheet 3,4 Capital Capital and Balance Sheet Highlights n Both Standardized and Advanced CET1 capital ratios decreased QoQ $ in billions 2Q22 1Q22 2Q21 — Increase in market RWAs driven by increased exposures and market volatility Common Equity Tier 1 (CET1) capital $ 98.3 $ 98.3 $
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