Filing Flows › Goldman Sachs Group (GS) › Q3 2026 › vs Q3 2025
Goldman Sachs Group (GS) Q3 2026 vs Q3 2025 (year over year)
Goldman Sachs Group's revenue rose $3.5B (+23%) from $15.2B in Q3 2025 to $18.7B in Q3 2026. The biggest changes: Global Banking & Markets +$3.3B (+32%); Asset & Wealth Management +$633M (+14%); Platform Solutions −$428M (-72%). Operating margin 37.5% against 35.5% (+2.0 pts).
Goldman Sachs Group, Q3 2026: revenue $18.7B (+23% year over year), operating margin 37.5%, net earnings $5.3B, operating cash flow $4.2B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 37.5% | 35.5% | +2.0 pts |
| Net margin | 28.3% | 27.0% | +1.4 pts |
| Free cash flow margin | 19.6% | 14.0% | +5.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Global Banking & Markets | $13.5B | $10.2B | $3.3B | +32% |
| Asset & Wealth Management | $5.1B | $4.4B | $633M | +14% |
| Platform Solutions | $170M | $598M | −$428M | -72% |
| Revenue | $18.7B | $15.2B | $3.5B | +23% |
| Operating profit | $7.0B | $5.4B | $1.6B | +30% |
| Costs & expenses | $11.7B | $9.8B | $1.9B | +19% |
| Pre-tax earnings | $7.0B | $5.4B | $1.6B | +30% |
| Net earnings | $5.3B | $4.1B | $1.2B | +29% |
| Income tax | $1.7B | $1.3B | $415M | +32% |
| Depreciation & amortization | $537M | $531M | $6.0M | +1% |
| Share-based compensation | $271M | $237M | $34.0M | +14% |
| Working capital & other | $1.9B | $2.2B | −$265M | -12% |
| Operating cash flow | $4.2B | $2.7B | $1.5B | +56% |
| Free cash flow (OCF − capex) | $3.7B | $2.1B | $1.5B | +72% |
| Capital expenditures | $525M | $558M | −$33.0M | -6% |
Questions
How much did Goldman Sachs Group's revenue grow year over year in Q3 2026?
Goldman Sachs Group's revenue rose $3.5B (+23%) from $15.2B in Q3 2025 to $18.7B in Q3 2026.
What drove Goldman Sachs Group's revenue change in Q3 2026?
Global Banking & Markets +$3.3B (+32%); Asset & Wealth Management +$633M (+14%); Platform Solutions −$428M (-72%).