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
Download Data
Historic Data
| Date | Value |
|---|---|
| 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 |