Goldman Sachs (GS) Net Margin (2009 - 2026)
Goldman Sachs (GS) posted Net Margin of 31.36% for Q1 2026, down 3.75% sequentially from 32.59% in Q4 2025, and up 94.0% YoY from 16.17% in Q1 2025.
Goldman Sachs (GS) Net Margin (2009 - 2026) Analysis & Trends
Goldman Sachs (GS) has 18 years of Net Margin data on file, last reported at 31.36% in Q1 2026.
- Quarterly Net Margin rose 94.0% year-over-year to 31.36% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 28.32% (up 224.0% YoY) and the FY2025 annual result came in at 27.97%, up 269.0% from the prior year.
- Net Margin eased to 31.36% in Q1 2026 per GS's latest filing, from 32.59% in the prior quarter.
- The five-year high for Net Margin was 32.59% in Q4 2025, with the low at 9.83% in Q2 2023.
- Average Net Margin over 5 years is 23.57%, with a median of 24.73% recorded in 2022.
- Year-over-year, Net Margin slumped 1895 bps in 2022 and surged 1288 bps in 2024.
- Goldman Sachs' Net Margin stood at 11.19% in 2022, then surged by 47 bps to 16.5% in 2023, then jumped by 71 bps to 28.29% in 2024, then climbed by 15 bps to 32.59% in 2025, then retreated by 4 bps to 31.36% in 2026.
- Business Quant data shows GS's Net Margin at 31.36% in Q1 2026, 32.59% in Q4 2025, and 25.42% in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.70 Bn | 197.17 Bn | - | 26.29% |
| 2 | Goldman Sachs | 309.79 Bn | -627.76 Bn | - | 31.36% |
| 3 | Schwab Charles | 167.21 Bn | 122.24 Bn | - | 36.98% |
| 4 | Futu Holdings | 111.36 Bn | 109.19 Bn | 733.58 Mn | 122.40% |
| 5 | Robinhood Markets | 97.69 Bn | 93.05 Bn | 960.00 Mn | 32.80% |
| 6 | LPL Financial Holdings | 23.49 Bn | 22.47 Bn | - | 7.22% |
| 7 | Tradeweb Markets | 21.59 Bn | 20.34 Bn | - | 37.74% |
| 8 | Circle Internet | 15.14 Bn | 13.62 Bn | 35.01 Mn | 132.82% |
| 9 | Iren | 14.46 Bn | 12.24 Bn | 144.76 Mn | -171.16% |
| 10 | Evercore | 13.30 Bn | 11.58 Bn | 1.38 Bn | 1.16% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 31.36% |
| Dec 31, 2025 | 32.59% |
| Sep 30, 2025 | 25.42% |
| Jun 30, 2025 | 23.82% |
| Mar 31, 2025 | 30.43% |
| Dec 31, 2024 | 28.29% |
| Sep 30, 2024 | 21.89% |
| Jun 30, 2024 | 22.71% |
| Mar 31, 2024 | 27.66% |
| Dec 31, 2023 | 16.50% |
| Sep 30, 2023 | 15.93% |
| Jun 30, 2023 | 9.83% |
| Mar 31, 2023 | 25.25% |
| Dec 31, 2022 | 11.19% |
| Sep 30, 2022 | 24.73% |
| Jun 30, 2022 | 23.48% |
| Mar 31, 2022 | 29.62% |
| Dec 31, 2021 | 30.14% |
| Sep 30, 2021 | 38.83% |
| Jun 30, 2021 | 34.75% |