Goldman Sachs Group Inc

Company facts

Industry

Security Brokers, Dealers & Flotation Companies

Headquarters

New York, New York

Most recent report

10-Q, filed Nov 2, 2026

Incorporated

Delaware

Filings on record

16,637+ filings

On EDGAR

CIK 886982

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 2 of 10 sections worth reading, with 10 positive, 15 notable, and 5 negative flags.

• Financial Statements (Item 1)

  Full financial statements and notes with material acquisitions, credit quality, and litigation details.
  Notable

  • The firm entered into an agreement to transition the Apple Card program to another issuer in December 2025.
  • Completed acquisitions of Industry Ventures and Innovator for ~$2.4B in cash and equity in H1 2026.
  • Announced acquisitions of NEOS (up to ~$2.25B) and LCN (up to ~$410M) in August 2026.
  • Operating lease payments signed but not yet commenced totaled $1.42 billion as of September 2026.
  • The 1MDB guarantee dispute with Malaysia is in arbitration; Malaysia demanded ~$1B in August 2025.
  • The firm estimates the upper end of reasonably possible litigation loss at ~$1.1B above reserves.

• Management's Discussion (Item 2)

  Core MD&A with all key financial results, segment details, and risk metrics for Q3 2026.
  Positive

  • Net earnings rose 29% to $5.29B in Q3 2026 from $4.10B in Q3 2025.
  • Diluted EPS was $17.01 for Q3 2026, up 39% from $12.25 in Q3 2025.
  • ROE was 18.7% for Q3 2026, above the 14%-16% target range, vs 14.2% in Q3 2025.
  • Net revenues were $18.68B for Q3 2026, 23% higher than $15.18B in Q3 2025.
  • Returned $4.49B to shareholders in Q3 2026: $3.00B buybacks and $1.49B dividends.
  • CET1 capital ratio was 12.4% (Standardized) and 13.6% (Advanced) as of September 2026.
  • Global Banking & Markets net revenues rose 32% to $13.46B in Q3 2026 from $10.17B in Q3 2025.
  • Investment banking fees rose 21% to $3.22B in Q3 2026 from $2.66B in Q3 2025.
  • Equities net revenues surged 72% to $6.44B in Q3 2026 from $3.74B in Q3 2025.
  • Dividend raised to $5.00 per share in Q3 2026 from $4.50.
  Notable

  • Investment management revenues rose 39% to $4.10B in Q3 2026 from $2.95B in Q3 2025.
  • Market making revenues rose 46% to $5.66B in Q3 2026 from $3.87B in Q3 2025.
  • Effective tax rate for first nine months of 2026 was 20.4%, down from 21.4% for full year 2025.
  • Unrecognized incentive fees were $6.15 billion as of September 2026, up from $5.24 billion in December 2025.
  • Apple Card loan portfolio transferred to held for sale in Q4 2025; transition expected in ~24 months.
  • G-SIB surcharge expected to rise to 4.0% in 2028 from 3.5% for 2026-2027.
  • VaR multiplier increased from 3.0 to 3.4 due to five exceptions in the last 250 business days.
  • Iranian conflict beginning Feb 2026 has disrupted oil supply and increased volatility.
  • Average daily VaR rose to $126M in Q3 2026 from $91M in Q3 2025 due to higher volatility.
  Negative

  • Other principal transactions revenues fell 46% to $401M in Q3 2026 from $743M in Q3 2025.
  • Charitable contributions of ~$450M reduced diluted EPS by ~$1.00 in Q3 2026.
  • Provision for credit losses in Global Banking & Markets rose to $345M in Q3 2026 from $82M in Q3 2025.
  • Platform Solutions net revenues fell 72% to $170M in Q3 2026 from $598M in Q3 2025.
  • Platform Solutions pre-tax loss widened to $95M in Q3 2026 from $22M loss in Q3 2025.

What changed: Sep 2026 vs. Jun 2026

About 1% of GS's Sep 2026 10-Q is new information. 20 paragraphs were added, 610 changed, and 73 removed. Below are the most important lines SECSift identified.

• Item 1 290
• Item 2 184
• Item 6 2
• Item 4 1
• Item 5 1