Cash flow The Goldman Sachs Group, Inc.

Equities

GS

US38141G1040

Investment Banking & Brokerage Services

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Published financial data: THE GOLDMAN SACHS GROUP, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest and Dividend Income, Total	21.74B	13.69B	12.12B	29.02B	68.52B
Interest Expense, Total	17.38B	8.94B	5.65B	21.35B	62.16B
Net Interest Income	4.36B	4.75B	6.47B	7.68B	6.35B
Brokerage Commission	2.99B	3.55B	3.62B	4.03B	3.79B
Trading and Principal Transactions	16.21B	20.2B	27.02B	19.29B	20.36B
Asset Management Fee	6.19B	6.92B	8.06B	9B	9.53B
Underwriting & Investment Banking Fee	6.8B	9.14B	14.17B	7.36B	6.22B
Revenues Before Provison For Loan Losses	36.55B	44.56B	59.34B	47.36B	46.25B
Provision For Loan Losses	1.06B	3.1B	357M	2.72B	1.03B
Total Revenues	35.48B	41.46B	58.98B	44.65B	45.23B
Salaries And Other Employee Benefits	12.35B	13.31B	17.72B	15.15B	15.5B
Cost of Services Provided, Total	7.5B	8.16B	9.46B	10.84B	10.92B
Depreciation & Amortization - (IS) - (Collected)	1.7B	1.9B	2.02B	2.46B	3.28B
Other Operating Expenses	2.1B	2.2B	2.2B	2.14B	3.1B
Total Operating Expenses	23.66B	25.56B	31.4B	30.59B	32.79B
Operating Income	11.82B	15.9B	27.58B	14.06B	12.43B
EBT, Excl. Unusual Items	11.82B	15.9B	27.58B	14.06B	12.43B
Impairment of Goodwill	-	-	-	-	-504M
Asset Writedown	-	-	-	-	-1.07B
Legal Settlements	-1.24B	-3.42B	-534M	-576M	-115M
EBT, Incl. Unusual Items	10.58B	12.48B	27.04B	13.49B	10.74B
Income Tax Expense	2.12B	3.02B	5.41B	2.22B	2.22B
Earnings From Continuing Operations	8.47B	9.46B	21.64B	11.26B	8.52B
Net Income to Company	8.47B	9.46B	21.64B	11.26B	8.52B
Net Income - (IS)	8.47B	9.46B	21.64B	11.26B	8.52B
Preferred Dividend and Other Adjustments	595M	569M	519M	550M	660M
Net Income to Common Incl Extra Items	7.87B	8.89B	21.12B	10.71B	7.86B
Net Income to Common Excl. Extra Items	7.87B	8.89B	21.12B	10.71B	7.86B
Per Share Items
Net EPS - Basic	21.18	24.94	60.25	30.42	23.05
Basic EPS - Continuing Operations	21.18	24.94	60.25	30.42	23.05
Basic Weighted Average Shares Outstanding	372M	356M	350M	352M	341M
Net EPS - Diluted	21.03	24.74	59.45	30.06	22.87
Diluted EPS - Continuing Operations	21.03	24.74	59.45	30.06	22.87
Diluted Weighted Average Shares Outstanding	376M	360M	356M	358M	346M
Normalized Basic EPS	19.89	27.88	49.18	24.96	22.8
Normalized Diluted EPS	19.68	27.58	48.44	24.54	22.47
Dividend Per Share	4.15	5	6.5	9	10.5
Payout Ratio	24.85	24.7	12.6	32.7	49.19
American Depositary Receipts Ratio (ADR)	0.03	0.03	0.03	0.03	0.03
Supplemental Items
Effective Tax Rate - (Ratio)	20	24.2	20	16.5	20.7
Current Domestic Taxes	1.5B	2.31B	3.48B	2.98B	1.62B
Current Foreign Taxes	950M	1.54B	1.93B	1.66B	1.96B
Total Current Taxes	2.45B	3.85B	5.4B	4.64B	3.58B
Deferred Domestic Taxes	-403M	-840M	264M	-2.52B	-1.31B
Deferred Foreign Taxes	69M	7M	-259M	103M	-50M
Total Deferred Taxes	-334M	-833M	5M	-2.41B	-1.36B
Normalized Net Income	7.39B	9.94B	17.24B	8.79B	7.77B
Supplemental Operating Expense Items
Stock-Based Comp., G&A Exp. (Total)	2.12B	1.98B	2.55B	4.11B	2.1B
Total Stock-Based Compensation	2.12B	1.98B	2.55B	4.11B	2.1B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	134B	156B	261B	242B	242B
Cash & Securities Segregated	-	-	-	-	-
Securities Owned	-	-	-	-	-
Securities Purchased Under Agreements To Resell	85.69B	108B	206B	225B	224B
Securities Borrowed	136B	142B	179B	189B	199B
Accounts Receivable, Total	74.6B	121B	161B	135B	132B
Other Receivables	114B	122B	166B	190B	198B
Gross Property Plant And Equipment	34.2B	35.55B	31.2B	31.43B	27.06B
Accumulated Depreciation	-9.95B	-10.12B	-10.81B	-12.19B	-13.64B
Net Property Plant And Equipment	24.25B	25.43B	20.39B	19.24B	13.42B
Goodwill	4.2B	4.33B	4.28B	6.37B	5.92B
Other Intangibles, Total	641M	630M	418M	2.01B	1.18B
Investment In Debt and Equity Securities	64.26B	88.76B	88.84B	131B	147B
Trading Asset Securities, Total	289B	325B	308B	261B	367B
Other Current Assets, Total	67.08B	69.47B	69.23B	40.43B	111B
Other Long-Term Assets, Total	285M	366M	593M	766M	762M
Total Assets	993B	1,163B	1,464B	1,442B	1,642B
Liabilities
Accounts Payable, Total	175B	191B	252B	262B	231B
Accrued Expenses, Total	14.61B	15.37B	19.01B	15.98B	18.26B
Short-Term Borrowings	202B	247B	302B	225B	401B
Current Portion of Long-Term Debt	30.64B	25.91B	18.12B	38.64B	49.36B
Current Portion of Leases	384M	342M	305M	325M	325M
Long-Term Debt	218B	225B	262B	253B	247B
Long-Term Leases	2B	1.94B	1.98B	1.83B	1.91B
Trust Preferred Securities (BS)	1.33B	1.43B	1.32B	1.05B	1.05B
Current Income Taxes Payable	2.95B	3.16B	2.36B	2.67B	2.95B
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	104B	142B	210B	198B	251B
Other Non Current Liabilities	151B	213B	284B	325B	321B
Total Liabilities	901B	1,065B	1,353B	1,324B	1,524B
Preferred Stock Redeemable	11.2B	11.2B	10.7B	10.7B	11.2B
Total Preferred Equity	11.2B	11.2B	10.7B	10.7B	11.2B
Common Stock, Total	9M	9M	9M	9M	9M
Additional Paid In Capital	54.88B	55.68B	56.4B	59.05B	60.25B
Retained Earnings	106B	113B	132B	139B	144B
Treasury Stock	-84.01B	-85.94B	-91.14B	-94.63B	-100B
Comprehensive Income and Other	1.71B	2.03B	2.14B	2.69B	2.2B
Total Common Equity	79.06B	84.73B	99.22B	106B	106B
Minority Interest	1.71B	1.64B	840M	649M	363M
Total Equity	91.98B	97.57B	111B	118B	117B
Total Liabilities And Equity	993B	1,163B	1,464B	1,442B	1,642B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	360M	361M	354M	353M	343M
ECS Total Common Shares Outstanding	362M	359M	350M	352M	341M
Book Value / Share	218.38	235.81	283.89	302.31	310.25
Tangible Book Value	74.22B	79.77B	94.52B	98.1B	98.61B
Tangible Book Value Per Share	205.02	222	270.44	278.51	289.43
Tangible Book Value Per Share (As Reported)	205.15	222.32	270.91	279.66	292.52
Total Debt	454B	501B	586B	520B	700B
Net Debt	-190B	-229B	-367B	-397B	-331B
Equity Method Investments, Total	285M	366M	593M	766M	762M
Full Time Employees	38.3K	40.5K	43.9K	48.5K	45.3K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	8.47B	9.46B	21.64B	11.26B	8.52B
Depreciation, Depletion & Amortization	1.53B	1.76B	1.9B	2.28B	4.18B
Amortization of Goodwill and Intangible Assets - (CF)	173M	147M	120M	174M	681M
Total Depreciation, Depletion & Amortization	1.7B	1.9B	2.02B	2.46B	4.86B
Total Asset Writedown	-	-	-	-	-
Provision for Credit Losses	1.06B	3.1B	357M	-	-
Stock-Based Compensation (CF)	2.02B	1.92B	2.35B	4.08B	2.08B
Provision and Write-off of Bad Debts	-	-	-	2.72B	1.03B
Change in Trading Asset Securities	-68.68B	-33.4B	15.23B	45.28B	-164B
Change in Accounts Receivable	-7.69B	-30.9B	21.97B	35.01B	-28.22B
Change in Other Net Operating Assets (Collected)	87.34B	35.03B	-62.64B	-89.77B	168B
Other Operating Activities	-354M	-834M	5M	-2.32B	-4.66B
Cash from Operations	23.87B	-13.73B	921M	8.71B	-12.59B
Capital Expenditure	-8.44B	-6.31B	-4.67B	-3.75B	-2.32B
Sale of Property, Plant, and Equipment	6.63B	2.97B	3.93B	2.71B	3.28B
Cash Acquisitions	-803M	-231M	-	-2.12B	-
Divestitures	-	-	-	-	487M
Investment in Marketable and Equity Securities, Total	-11.96B	-19.61B	5.79B	-47.58B	-13.41B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-9.66B	-11.17B	-35.52B	-25.23B	-5.35B
Cash from Investing	-24.24B	-34.36B	-30.46B	-75.96B	-17.31B
Short Term Debt Issued, Total	14M	10.57B	2.14B	321M	2.72B
Long-Term Debt Issued, Total	29.64B	55.32B	97.51B	86.32B	50.2B
Total Debt Issued	29.65B	65.89B	99.65B	86.64B	52.92B
Short Term Debt Repaid, Total	-2.05B	-	-1.32B	-2.28B	-
Long-Term Debt Repaid, Total	-51.61B	-59.19B	-59.2B	-46.21B	-57.64B
Total Debt Repaid	-53.66B	-59.19B	-60.52B	-48.5B	-57.64B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-6.08B	-2.76B	-6.18B	-5.1B	-7.14B
Issuance of Preferred Stock	1.1B	349M	2.17B	-	1.5B
Repurchase of Preferred Stock	-1.1B	-350M	-2.68B	-	-1B
Common Dividends Paid	-1.54B	-	-	-	-
Preferred Dividends Paid	-560M	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-2.34B	-2.72B	-3.68B	-4.19B
Common & Preferred Stock Dividends Paid	-2.1B	-2.34B	-2.72B	-3.68B	-4.19B
Other Financing Activities, Total	35.56B	68.77B	105B	30.23B	43.35B
Cash from Financing	3.37B	70.38B	135B	59.6B	27.8B
Foreign Exchange Rate Adjustments	-	-	-	-11.56B	1.85B
Net Change in Cash	3B	22.3B	105B	-19.21B	-248M
Supplemental Items
Cash Interest Paid	18.64B	9.09B	5.52B	19.02B	60.03B
Cash Income Tax Paid (Refund)	1.27B	2.75B	6.2B	4.56B	2.39B
Net Debt Issued / Repaid	-24.01B	6.7B	39.13B	38.15B	-4.71B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.88	0.88	1.65	0.78	0.55
Return On Equity %	9.22	9.98	20.77	9.85	7.24
Return on Common Equity	9.96	10.86	22.96	10.41	7.4
Margin Analysis
Gross Profit Margin %	87.55	86.76	89.35	84.05	83.16
SG&A Margin	43.51	38.53	35.44	42.27	41.58
Income From Continuing Operations Margin %	23.86	22.81	36.68	25.22	18.83
Net Income Margin %	23.86	22.81	36.68	25.22	18.83
Net Avail. For Common Margin %	22.18	21.44	35.8	23.99	17.37
Normalized Net Income Margin	20.83	23.97	29.22	19.68	17.18
Asset Turnover
Asset Turnover	0.04	0.04	0.04	0.03	0.03
Short Term Liquidity
Current Ratio	1.7	1.67	1.68	1.73	1.55
Quick Ratio	1.57	1.56	1.59	1.67	1.43
Operating Cash Flow to Current Liabilities	0.05	-0.02	0	0.01	-0.01
Long Term Solvency
Total Debt/Equity	493.13	513.64	529.24	441.29	597.24
Total Debt / Total Capital	83.14	83.7	84.11	81.53	85.66
LT Debt/Equity	240.31	233.63	239.65	217.31	212.99
Long-Term Debt / Total Capital	40.52	38.07	38.09	40.15	30.55
Total Liabilities / Total Assets	90.74	91.61	92.43	91.83	92.86
Tier 1 Capital Ratio %	15.2	15.2	15.8	16	15.9
Total Capital Ratio %	17.8	17.4	17.9	17.8	18.1
Leverage Ratio %	8.7	8.1	7.3	7.3	7
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.28	16.86	42.26	-24.3	1.29
Gross Profit, 1 Yr. Growth %	-2.07	16.79	46.49	-28.78	0.21
Earnings From Cont. Operations, 1 Yr. Growth %	-19.06	11.73	128.72	-47.95	-24.38
Net Income, 1 Yr. Growth %	-19.06	11.73	128.72	-47.95	-24.38
Normalized Net Income, 1 Yr. Growth %	-11.27	34.48	73.46	-49.01	-13.52
Diluted EPS Before Extra, 1 Yr. Growth %	-16.77	17.65	140.25	-49.43	-23.93
Common Equity, 1 Yr. Growth %	0.1	7.17	17.11	7.32	-0.74
Total Assets, 1 Yr. Growth %	6.56	17.13	25.88	-1.52	13.86
Tangible Book Value, 1 Yr. Growth %	-0.9	7.47	18.5	3.79	0.52
Cash From Operations, 1 Yr. Growth %	44.1	-157.52	-106.71	38.27	-244.55
Capital Expenditures, 1 Yr. Growth %	5.78	-25.28	-26.03	-19.69	-38.21
Dividend Per Share, 1 Yr. Growth %	31.75	20.48	30	38.46	16.67
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.18	7.4	28.93	3.77	-12.43
Gross Profit, 2 Yr. CAGR %	4.77	6.99	30.8	2.14	-15.52
Earnings From Cont. Operations, 2 Yr. CAGR %	40.54	-4.9	59.86	9.11	-37.26
Net Income, 2 Yr. CAGR %	40.54	-4.9	59.86	9.11	-37.26
Normalized Net Income, 2 Yr. CAGR %	2.2	9.23	52.73	-5.95	-32.38