Goldman Sachs balance sheet

At the end of fiscal 2025, Goldman Sachs had total assets of $1.81tn, total liabilities of $1.68tn and shareholders' equity of $124.97bn. It held $164.26bn in cash against $355.96bn of debt.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Goldman Sachs: balance sheet, annual
Fiscal year	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash and equivalents	56.0	72.7	78.9	75.0	93.4	121.7	110.1	130.5	133.5	155.8	261.0	241.8	241.6	182.1	164.3	176.8
Goodwill	3.8	3.7	3.7	3.6	3.7	3.7	3.7	3.8	4.2	4.3	4.3	6.4	5.9	5.9	5.9	7.3
Total assets	923.2	938.6	911.1	855.8	861.4	860.2	916.8	931.8	993.0	1,163.0	1,464.0	1,441.8	1,641.6	1,676.0	1,809.3	2,180.4
Short-term debt	78.2	67.3	—	60.1	57.0	—	—	—	—	—	—	61.0	75.9	69.7	—	—
Long-term debt	181.7	176.3	168.5	174.6	185.9	197.5	227.6	236.0	207.1	213.5	254.1	247.1	241.9	242.6	285.5	352.5
Total debt	259.9	243.6	173.2	234.7	243.0	201.5	231.4	264.7	255.4	266.4	301.0	315.2	323.8	319.6	356.0	444.8
Total liabilities	852.8	862.8	833.0	773.0	774.7	773.3	834.5	841.6	902.7	1,067.1	1,354.1	1,324.6	1,524.7	1,554.0	1,684.3	2,055.5
Shareholders' equity	70.4	75.7	78.5	82.8	86.7	86.9	82.2	90.2	90.3	95.9	109.9	117.2	116.9	122.0	125.0	124.9
Shares outstanding	485m	465m	446m	430m	419m	393m	375m	368m	347m	344m	334m	335m	323m	311m	296m	289m

US$ billions unless shown otherwise. Fiscal quarters.

Goldman Sachs: balance sheet, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Goodwill	5.9	5.9	6.0	6.0	5.9	6.6	7.3	7.3
Total assets	1,676.0	1,766.2	1,785.0	1,808.0	1,809.3	2,060.2	2,127.7	2,180.4
Short-term debt	69.7	71.0	69.0	72.4	—	—	—	—
Long-term debt	242.6	262.9	280.0	276.9	285.5	315.4	348.0	352.5
Total debt	312.3	333.9	349.0	349.3	285.5	315.4	348.0	352.5
Total liabilities	1,554.0	1,641.9	1,660.9	1,683.6	1,684.3	1,937.4	2,005.0	2,055.5
Shareholders' equity	122.0	124.3	124.1	124.4	125.0	122.8	122.7	124.9
Shares outstanding	311m	308m	303m	300m	296m	295m	291m	289m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Goldman Sachs's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Goldman Sachs.