The Goldman Sachs Group, Inc. (GS) FY2025 Annual Balance Sheet

The Goldman Sachs Group, Inc. (GS) FY2025 Annual Balance Sheet

Balance sheet as of 2025-12-31. The chart shows assets, liabilities and equity at that date.

Assets

1,809,320,000,000 US dollars

Liabilities

1,684,348,000,000 US dollars

Equity

124,972,000,000 US dollars

Trading assets (at fair value and includes $158,641 and $148,417 pledged as collateral)

656,796,000,000 US dollars

Loans (net of allowance of $2,148 and $4,666, and includes $4,905 and $5,460 at fair value)

237,734,000,000 US dollars

Securities borrowed (includes $51,581 and $46,902 at fair value)

208,208,000,000 US dollars

Customer and other receivables (includes $315 and $23 at fair value)

185,842,000,000 US dollars

Cash and cash equivalents

164,259,000,000 US dollars

Securities purchased under agreements to resell (includes $126,007 and $179,793 at fair value)

126,007,000,000 US dollars

Available-for-sale securities (at fair value; amortized cost of $99,116 and $80,777)

99,244,000,000 US dollars

Held-to-maturity securities

69,193,000,000 US dollars

Other assets (includes $180 and $194 at fair value)

36,212,000,000 US dollars

Other investments (includes $24,938 and $25,284 at fair value)

25,825,000,000 US dollars

Deposits (includes $76,569 and $44,855 at fair value)

501,422,000,000 US dollars

Unsecured long-term borrowings (includes $112,683 and $89,189 at fair value)

285,500,000,000 US dollars

Trading liabilities (at fair value)

262,552,000,000 US dollars

Customer and other payables

231,865,000,000 US dollars

Securities sold under agreements to repurchase (at fair value)

223,384,000,000 US dollars

Unsecured short-term borrowings

70,459,000,000 US dollars

Securities loaned (includes $11,995 and $10,246 at fair value)

53,644,000,000 US dollars

Other secured financings (includes $27,833 and $27,985 at fair value)

28,021,000,000 US dollars

Other liabilities (includes $111 and $84 at fair value)

27,501,000,000 US dollars

Retained earnings

165,288,000,000 US dollars

Additional paid-in capital

61,906,000,000 US dollars

Preferred stock; aggregate liquidation preference of $15,153 and $13,253

15,153,000,000 US dollars

Share-based awards

5,795,000,000 US dollars

Common stock; 931,995,446 and 927,499,667 shares issued, and 296,476,742 and 310,653,708 shares outstanding

9,000,000 US dollars

Nonvoting common stock; no shares issued and outstanding

0 US dollars

Stock held in treasury, at cost; 635,518,706 and 616,845,961 shares

negative 120,919,000,000 US dollars

Accumulated other comprehensive loss

negative 2,260,000,000 US dollars

Gross equity (calculated)

248,151,000,000 US dollars. Net equity plus the magnitudes of its negative contributions equals gross positive equity. The negative contributions enter this reconciliation as add-backs; their filed signs stay negative.

Chart connections

• Assets equal liabilities plus consolidated equity. Consolidated equity includes noncontrolling interests when reported.
• Treasury shares and other negative equity contributions reduce equity.