Filing Flows › Goldman Sachs Group (GS) › Q2 2026 › vs Q2 2025
Goldman Sachs Group (GS) Q2 2026 vs Q2 2025 (year over year)
Goldman Sachs Group's revenue rose $5.8B (+39%) from $14.6B in Q2 2025 to $20.3B in Q2 2026. The biggest changes: Global Banking & Markets +$5.4B (+53%); Asset & Wealth Management +$766M (+20%); Platform Solutions −$398M (-64%). Operating margin 42.1% against 34.0% (+8.1 pts).
Goldman Sachs Group, Q2 2026: revenue $20.3B (+40% year over year), operating margin 42.1%, net earnings $6.6B, operating cash flow $6.1B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 42.1% | 34.0% | +8.1 pts |
| Net margin | 32.6% | 25.5% | +7.1 pts |
| Free cash flow margin | 27.5% | 35.6% | -8.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Global Banking & Markets | $15.5B | $10.1B | $5.4B | +53% |
| Asset & Wealth Management | $4.6B | $3.8B | $766M | +20% |
| Platform Solutions | $221M | $619M | −$398M | -64% |
| Revenue | $20.3B | $14.6B | $5.8B | +39% |
| Operating profit | $8.6B | $5.0B | $3.6B | +73% |
| Costs & expenses | $11.8B | $9.6B | $2.1B | +22% |
| Pre-tax earnings | $8.6B | $5.0B | $3.6B | +73% |
| Net earnings | $6.6B | $3.7B | $2.9B | +78% |
| Income tax | $1.9B | $1.2B | $700M | +57% |
| Depreciation & amortization | $509M | $618M | −$109M | -18% |
| Share-based compensation | $439M | $533M | −$94.0M | -18% |
| Working capital & other | $1.5B | −$798M | $2.3B | — |
| Operating cash flow | $6.1B | $5.7B | $433M | +8% |
| Free cash flow (OCF − capex) | $5.6B | $5.2B | $407M | +8% |
| Capital expenditures | $502M | $476M | $26.0M | +5% |
Questions
How much did Goldman Sachs Group's revenue grow year over year in Q2 2026?
Goldman Sachs Group's revenue rose $5.8B (+39%) from $14.6B in Q2 2025 to $20.3B in Q2 2026.
What drove Goldman Sachs Group's revenue change in Q2 2026?
Global Banking & Markets +$5.4B (+53%); Asset & Wealth Management +$766M (+20%); Platform Solutions −$398M (-64%).