Goldman Sachs Group, Inc. (the) · NYSE:GS
Goldman Sachs Group, Inc. (the) — Q3 2025 Earnings Presentation
14 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Oct 14, 2025
Slide 1: Third Quarter 2025 Earnings Results Presentation
Third Quarter 2025 Earnings Results Presentation October 14, 2025
Slide 2: Results Snapshot
Results Snapshot “This quarter's results reflect the strength of our client franchise and focus on executing our strategic priorities in an improved market environment. Across our business, clients continue to turn to us for their most complex and consequential matters. We know that conditions can c
Slide 3: Financial Overview
Financial Overview Financial Results Financial Overview Highlights vs. 3Q25 results included EPS of $12.25 and ROE of 14.2% $ in millions, vs. vs. 3Q25 3Q24 — 3Q25 net revenues were significantly higher YoY, reflecting higher net revenues across all except per share amounts 3Q25 2Q25 3Q24 YTD YTD
Slide 4: Global Banking & Markets
Global Banking & Markets Financial Results Global Banking & Markets Highlights vs. 3Q25 net revenues were higher YoY vs. vs. 3Q25 3Q24 — Investment banking fees reflected significantly higher net revenues in Advisory and Debt $ in millions 3Q25 2Q25 3Q24 YTD YTD underwriting and higher net revenue
Slide 5: Global Banking & Markets – Net Revenues
Global Banking & Markets – Net Revenues Net Revenues Global Banking & Markets Net Revenues Highlights vs. 3Q25 Investment banking fees were significantly higher YoY vs. vs. 3Q25 3Q24 — Advisory reflected a significant increase in completed mergers and acquisitions volumes $ in millions 3Q25 2Q25 3
Slide 6: Asset & Wealth Management
Asset & Wealth Management Financial Results Asset & Wealth Management Highlights vs. 3Q25 net revenues were higher YoY vs. vs. 3Q25 3Q24 — Management and other fees primarily reflected the impact of higher average AUS $ in millions 3Q25 2Q25 3Q24 YTD YTD — Private banking and lending net revenues
Slide 7: Asset & Wealth Management – Assets Under Supervision
Asset & Wealth Management – Assets Under Supervision AUS Highlights3 AUS by Asset Class3 During the quarter, AUS increased $159 billion to a record $3.45 trillion $ in billions 3Q25 2Q25 3Q24 — Net market appreciation primarily in equity and fixed income assets Alternative investments $ 374 $ 355
Slide 8: Asset & Wealth Management – Alternative Investments
Asset & Wealth Management – Alternative Investments Alternative Investments Highlights3 On-Balance Sheet Alternative Investments3 3Q25 Management and other fees from alternative investments were $597 million, up 13% compared with 3Q24 $ in billions 3Q25 During the quarter, alternative investment
Slide 9: Platform Solutions
Platform Solutions Financial Results Platform Solutions Highlights vs. 3Q25 net revenues were higher YoY vs. vs. 3Q25 3Q24 — Consumer platforms primarily reflected a net loss in 3Q24 related to the GM credit card $ in millions 3Q25 2Q25 3Q24 YTD YTD program that was transferred to held for sale Co
Slide 10: Loans and Net Interest Income
Loans and Net Interest Income Loans and Net Interest Income Highlights3 Loans by Segment3 ($ in billions) 3Q25 loans increased QoQ $222 $217 — Gross loans by type: $219 billion - amortized cost, $5 billion - fair value, $3 billion - held for $192 sale — Average loans of $218 billion $153 $148 Glob
Slide 11: Expenses
Expenses Financial Results Expense Highlights 3Q25 total operating expenses were higher YoY vs. vs. vs. 3Q25 3Q24 — Compensation and benefits expenses were higher (reflecting improved operating $ in millions 3Q25 2Q25 3Q24 YTD YTD performance) Compensation and benefits $ 4,680 – 14% $ 14,241 10% —
Slide 12: Capital and Balance Sheet
Capital and Balance Sheet Capital and Balance Sheet Highlights3 Selected Balance Sheet Data3 Both Standardized and Advanced CET1 capital ratios decreased QoQ, reflecting an increase in $ in billions 3Q25 2Q25 4Q24 credit RWAs, partially offset by an increase in CET1 capital Returned $3.25 billio
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. 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
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