Goldman Sachs GS
NYSE GS
$1,029.10 +9.37 (+0.92%)
At close: Sep 11, 2026 · 4:00 PM EDT

Goldman Sachs (GS) Operating Expenses (2009 - 2026)

Goldman Sachs' (GS) quarterly Operating Expenses came in at $11.7 billion in Q2 2026, up 26.32% year-over-year from $9.2 billion in Q2 2025, and up 11.96% quarter-over-quarter from $10.4 billion in Q1 2026.

Analysis

Goldman Sachs (GS) Operating Expenses (2009 - 2026) Analysis & Trends

Goldman Sachs has disclosed Operating Expenses across 18 years of filings, most recently posting $11.7 billion for Q2 2026.

  • In Q2 2026, Operating Expenses rose 26.32% year-over-year to $11.7 billion; the TTM figure through Jun 2026 stood at $41.3 billion (up 18.11% YoY), while the FY2025 annual figure was $37.5 billion, up 11.19% from the prior year.
  • Operating Expenses came in at $11.7 billion for Q2 2026 at Goldman Sachs, up from $10.4 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $11.7 billion in Q2 2026 to a low of $7.7 billion in Q2 2022.
  • Average Operating Expenses over 5 years is $8.8 billion, with a median of $8.5 billion recorded in 2023.
  • Year-over-year, Operating Expenses fell 18.24% in 2022 and gained 26.32% in 2026.
  • Over 5 years, Operating Expenses stood at $8.1 billion in 2022, then gained by 4.89% to $8.5 billion in 2023, then decreased by 2.66% to $8.3 billion in 2024, then grew by 17.69% to $9.7 billion in 2025, then climbed by 20.07% to $11.7 billion in 2026.
  • Per Business Quant data, the three most recent Operating Expenses figures were $11.7 billion in Q2 2026, $10.4 billion in Q1 2026, and $9.7 billion in Q4 2025.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Bank Of America 439.96 Bn -148.54 Bn 30.39 Bn 18.63 Bn
2 Morgan Stanley 336.99 Bn 176.86 Bn - 13.90 Bn
3 Goldman Sachs 299.92 Bn -676.43 Bn - 11.67 Bn
4 Royal Bank Of Canada 288.24 Bn 61.39 Bn - 7.02 Bn
5 Mitsubishi Ufj Financial 283.40 Bn -100.92 Bn 10.89 Bn 17.50 Bn
6 Wells Fargo & Company 273.32 Bn 71.49 Bn - 13.66 Bn
7 Banco Santander 219.61 Bn 227.22 Bn 28.01 Bn -7.44 Bn
8 American Express 219.16 Bn 169.84 Bn 17.99 Bn 14.48 Bn
9 Toronto Dominion Bank 204.38 Bn 43.05 Bn - 6.08 Bn
10 Schwab Charles 185.52 Bn 111.93 Bn - 3.40 Bn
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 11.67 Bn
Mar 31, 2026 10.43 Bn
Dec 31, 2025 9.72 Bn
Sep 30, 2025 9.45 Bn
Jun 30, 2025 9.24 Bn
Mar 31, 2025 9.13 Bn
Dec 31, 2024 8.26 Bn
Sep 30, 2024 8.32 Bn
Jun 30, 2024 8.53 Bn
Mar 31, 2024 8.66 Bn
Dec 31, 2023 8.49 Bn
Sep 30, 2023 9.05 Bn
Jun 30, 2023 8.54 Bn
Mar 31, 2023 8.40 Bn
Dec 31, 2022 8.09 Bn
Sep 30, 2022 7.70 Bn
Jun 30, 2022 7.65 Bn
Mar 31, 2022 7.72 Bn
Dec 31, 2021 7.27 Bn
Sep 30, 2021 6.59 Bn