Goldman Sachs Group, Inc. (the) · NYSE:GS

Goldman Sachs Group, Inc. (the) — Q2 2025 Earnings Presentation

15 slides from Goldman Sachs Group, Inc. (the)'s earnings presentation, Jul 16, 2025

  1. Slide 1: Second Quarter 2025 Earnings Results Presentation

    Second Quarter 2025 Earnings Results Presentation July 16, 2025

  2. Slide 2: Results Snapshot

    Results Snapshot “Our strong results for the quarter reflected healthy client activity levels across our businesses, our differentiated franchise positions and the talent and commitment of our people. At this time, the economy and markets are generally responding positively to the evolving policy en

  3. Slide 3: Financial Overview

    Financial Overview Financial Results Financial Overview Highlights vs.  2Q25 results included EPS of $10.91 and ROE of 12.8% $ in millions, vs. vs. 2Q25 2Q24 — 2Q25 net revenues were higher YoY, reflecting significantly higher net revenues in Global except per share amounts 2Q25 1Q25 2Q24 YTD YTD B

  4. Slide 4: Global Banking & Markets

    Global Banking & Markets Financial Results Global Banking & Markets Highlights vs.  2Q25 net revenues were significantly higher YoY vs. vs. 2Q25 2Q24 — Investment banking fees reflected significantly higher net revenues in Advisory, partially $ in millions 2Q25 1Q25 2Q24 YTD YTD offset by slightly

  5. Slide 5: Global Banking & Markets – Net Revenues

    Global Banking & Markets – Net Revenues Net Revenues Global Banking & Markets Net Revenues Highlights vs.  2Q25 Investment banking fees were significantly higher YoY vs. vs. 2Q25 2Q24 — Advisory reflected strength in the Americas and EMEA $ in millions 2Q25 1Q25 2Q24 YTD YTD — Equity underwriting w

  6. Slide 6: Asset & Wealth Management

    Asset & Wealth Management Financial Results Asset & Wealth Management Highlights vs.  2Q25 net revenues were slightly lower YoY vs. vs. 2Q25 2Q24 — Management and other fees primarily reflected the impact of higher average AUS $ in millions 2Q25 1Q25 2Q24 YTD YTD — Incentive fees were primarily dri

  7. 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 $120 billion to a record $3.29 trillion $ in billions 2Q25 1Q25 2Q24 — Net market appreciation primarily in equity and fixed income assets Alternative investments $ 355 $ 341

  8. Slide 8: Asset & Wealth Management – Alternative Investments

    Asset & Wealth Management – Alternative Investments Alternative Investments Highlights3 On-Balance Sheet Alternative Investments3  2Q25 Management and other fees from alternative investments were $589 million, up 7% compared with 2Q24 $ in billions 2Q25  During the quarter, alternative investments

  9. Slide 9: Platform Solutions

    Platform Solutions Financial Results Platform Solutions Highlights vs.  2Q25 net revenues were slightly higher YoY vs. vs. 2Q25 2Q24  2Q25 provision for credit losses of $307 million reflected net charge-offs and growth related to the $ in millions 2Q25 1Q25 2Q24 YTD YTD credit card portfolio Cons

  10. Slide 10: Loans and Net Interest Income

    Loans and Net Interest Income Loans and Net Interest Income Highlights3 Loans by Segment3 ($ in billions)  2Q25 loans increased QoQ — Gross loans by type: $211 billion - amortized cost, $6 billion - fair value, $5 billion - held for $217 $210 sale $184 — Average loans of $215 billion Global Banking

  11. Slide 11: Expenses

    Expenses Financial Results Expense Highlights  2Q25 total operating expenses were higher YoY vs. vs. vs. 2Q25 2Q24 — Compensation and benefits expenses were higher (reflecting improved operating $ in millions 2Q25 1Q25 2Q24 YTD YTD performance) Compensation and benefits $ 4,685 (4)% 10% $ 9,561 8%

  12. 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, primarily reflecting an increase in credit RWAs $ in billions 2Q25 1Q25 4Q24  SLR decreased QoQ, primarily reflecting an increase in on-ba

  13. 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

  14. 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

  15. Slide 15: Footnotes - Continued

    Footnotes - Continued 5. Includes consolidated investment entities (CIEs) and other legacy investments the firm intends to exit over the medium term (medium term refers to a 3-5 year time horizon from year-end 2022). The 2Q25 YTD average attributed equity for historical principal investments was $3.

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