Are you curious about the financial powerhouse that is Goldman Sachs? Specifically, what kind of numbers did they pull in last year? Well, you've come to the right place! We're about to embark on a deep dive into Goldman Sachs's financial performance.
Let's begin, shall we? Are you ready to uncover the impressive figures?
How Much Did Goldman Sachs Make Last Year? A Comprehensive Guide
Understanding the financial performance of a global investment bank like Goldman Sachs requires looking at a few key metrics. When we talk about "last year," we're generally referring to the most recently completed fiscal year. As of today, June 26, 2025, the last completed fiscal year for Goldman Sachs would be 2024.
Let's break down their performance for that period.
Step 1: Pinpointing the Key Financial Metrics
To truly grasp how much Goldman Sachs "made," we need to look at two primary figures:
Net Revenues: This represents the total income generated from all of their business activities before deducting expenses. Think of it as their top-line earnings.
Net Earnings (or Net Income): This is the profit the company made after all expenses, including taxes, have been accounted for. This is often referred to as the "bottom line" and is a strong indicator of profitability.
Step 2: Unveiling Goldman Sachs's 2024 Financial Performance
Goldman Sachs officially reported its full-year and fourth-quarter 2024 earnings on January 15, 2025.
Here are the headline figures:
Net Revenues for the full year 2024: $53.51 billion
Net Earnings for the full year 2024: $14.28 billion
This represents a significant increase compared to their performance in 2023. Their net revenues increased by 16% year-over-year, and their earnings per share (EPS) grew by an impressive 77% to $40.54.
Step 3: A Glimpse into the Business Segments
Goldman Sachs is a diversified financial institution, and its revenues are generated across several key segments. While the full breakdown for 2024 might be extensive, we can highlight the major contributors:
Sub-heading 3.1: Global Banking & Markets
This is traditionally one of Goldman Sachs's largest and most volatile segments, encompassing:
Investment Banking: Revenues from advising on mergers and acquisitions (M&A), and underwriting equity and debt offerings.
Global Markets: Income from trading fixed income, currency, and commodities (FICC) and equities. This includes both intermediation (acting as a middleman) and financing activities.
In 2024, their Global Banking & Markets division continued to be a strong performer, with increased net revenues. Their FICC financing and Equities financing net revenues reached a new record of $9.1 billion for 2024, demonstrating sustained growth in these more durable revenue streams.
Sub-heading 3.2: Asset & Wealth Management
This segment focuses on providing investment and advisory services to a wide range of clients, from institutions to individuals.
Asset Management: Managing investments for clients, earning fees based on assets under management (AUM).
Wealth Management: Providing comprehensive financial planning and advisory services to high-net-worth individuals.
In 2024, Asset & Wealth Management delivered strong results, with assets under supervision reaching another record. They also surpassed their target of annual Management and other fees of more than $10 billion, indicating a strong performance in their more durable fee-based revenue streams.
Sub-heading 3.3: Platform Solutions
This segment includes relatively newer initiatives and focuses on leveraging Goldman Sachs's technology and financial expertise to offer a wider range of services, often to corporate clients. While smaller, it's a growing area for the firm.
Step 4: Contextualizing the Numbers – What Do They Mean?
Goldman Sachs's strong performance in 2024 reflects an improving operating backdrop and growing CEO confidence, as stated by David Solomon, Chairman and CEO. The firm has been focused on a "simplified strategy" aimed at growing revenues and enhancing the durability of its franchise. The reported numbers suggest they are succeeding in these objectives.
It's important to remember that financial performance is influenced by a multitude of factors, including the global economic environment, market conditions, interest rates, and geopolitical events. The financial markets can be highly dynamic, and a good year can be followed by a more challenging one, and vice-versa.
Step 5: Looking Back (Briefly) to 2023 for Comparison
While the focus is on "last year" (2024), it's useful to have the previous year's figures for comparison to understand the trajectory:
Net Revenues for the full year 2023: $46.25 billion
Net Earnings for the full year 2023: $8.52 billion
As you can see, 2024 saw a significant rebound in both revenue and profit for Goldman Sachs compared to 2023, which was a more challenging year for the firm.
Frequently Asked Questions (FAQs)
Here are 10 related FAQ questions with quick answers to further enhance your understanding:
How to understand Goldman Sachs's annual revenue?
Goldman Sachs's annual revenue, or net revenues, represents the total income generated from all its business activities, including investment banking, trading, asset management, and other financial services, before any expenses are subtracted.
How to interpret Goldman Sachs's net earnings?
Net earnings, or net income, is the company's profit after all operating expenses, interest, and taxes have been paid. It's the ultimate measure of the firm's profitability for a given period.
How to find Goldman Sachs's official financial reports?
You can find Goldman Sachs's official financial reports, including annual reports (Form 10-K) and quarterly earnings releases, on their Investor Relations section of their official website (
How to analyze Goldman Sachs's performance by business segment?
Goldman Sachs typically reports its financial results broken down by major business segments like Global Banking & Markets, Asset & Wealth Management, and Platform Solutions. Analyzing these segments helps understand which areas are driving growth or facing challenges.
How to compare Goldman Sachs's financial results to previous years?
To compare, access their historical financial data from their annual reports or financial statements. Look for year-over-year growth in net revenues and net earnings to see if the company is expanding or contracting.
How to understand the impact of market conditions on Goldman Sachs's earnings?
Goldman Sachs's earnings, especially in its Global Markets division, are highly sensitive to market volatility, interest rates, and overall economic conditions. Strong markets generally lead to higher trading volumes and deal flow, boosting revenues.
How to assess Goldman Sachs's profitability beyond just net earnings?
Beyond net earnings, look at metrics like Return on Equity (ROE), which indicates how much profit the company generates for each dollar of shareholder equity, and Earnings Per Share (EPS), which shows the portion of a company's profit allocated to each outstanding share of common stock.
How to determine if Goldman Sachs is meeting its strategic objectives?
Goldman Sachs often outlines strategic objectives in their annual reports and earnings calls. You can assess their progress by comparing reported results against these stated goals and targets.
How to find out about Goldman Sachs's dividend payments?
Information on dividend payments, including dividend per share and payment dates, is typically announced in their quarterly earnings releases and can be found in the Investor Relations section of their website.
How to stay updated on Goldman Sachs's future financial performance?
To stay updated, you can follow financial news outlets, subscribe to Goldman Sachs's investor relations updates, and review their upcoming earnings call schedules and press releases.
