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 has reported Net Margin for 18 years, with the latest figure 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.
- Over five years, Net Margin peaked at 32.59% in Q4 2025 and troughed at 9.83% in Q2 2023.
- A 5-year average of 23.57% and a median of 24.73% in 2022 frame the typical range for Net Margin.
- The sharpest annual moves came in 2022 and 2024: Net Margin plunged 1895 bps in 2022, then soared 1288 bps in 2024.
- Over 5 years, Net Margin stood at 11.19% in 2022, then jumped by 47 bps to 16.5% in 2023, then soared by 71 bps to 28.29% in 2024, then advanced by 15 bps to 32.59% in 2025, then fell by 4 bps to 31.36% in 2026.
- According to Business Quant data, Net Margin over the past three periods registered 31.36%, 32.59%, and 25.42% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 333.21 Bn | 173.07 Bn | - | 25.46% |
| 2 | Goldman Sachs | 311.14 Bn | -665.21 Bn | - | 31.46% |
| 3 | Schwab Charles | 196.95 Bn | 123.36 Bn | - | 37.91% |
| 4 | Robinhood Markets | 93.19 Bn | 75.81 Bn | 1.20 Bn | 42.89% |
| 5 | Interactive Brokers | 41.71 Bn | -22.59 Bn | - | 16.46% |
| 6 | LPL Financial Holdings | 29.06 Bn | 26.36 Bn | - | 7.31% |
| 7 | Tradeweb Markets | 23.03 Bn | 20.97 Bn | - | 36.98% |
| 8 | Circle Internet | 21.70 Bn | 19.97 Bn | 288.85 Mn | 6.87% |
| 9 | Futu Holdings | 16.14 Bn | 214.18 Mn | 733.58 Mn | 52.66% |
| 10 | UP Fintech Holding | 13.78 Bn | 13.78 Bn | - | -17.87% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 31.46% |
| 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% |