GS Goldman Sachs Group margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 89

Gross margin

100%

Operating margin

40%

EBITDA margin

43%

Net margin

31.8%

Based on the latest figures, Goldman Sachs Group reports a gross margin of 100%, an operating margin of 40%, an EBITDA margin of 43%, and a net margin of 31.8%. Operating margin led the available margin gains with 3.8 percentage points, while the other margins did not change.

GS margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Goldman Sachs Group recorded average margins of 100% gross, 33.48% operating, 38.64% EBITDA, and 26.44% net. Relative to the three-year averages, operating, EBITDA, and net margins are above their three-year averages.

GS margin expansion

Year-over-year margin changes in percentage points

Operating margin expanded by 3.8 percentage points, EBITDA margin by 3.1 percentage points, and net margin by 3.4 percentage points. Gross margin was unchanged.

Gross margin expansion

0pp

Operating margin expansion

3.8pp

EBITDA margin expansion

3.1pp

Net margin expansion

3.4pp

GS Gross margin

Across the last 3 years, Goldman Sachs Group's gross margin averaged 100%. The current gross margin stands at 100%, in line with its three-year average. Gross margin was highest at 100% in Sep 2026 and lowest at 100% in Dec 2023.

GS Operating margin

Goldman Sachs Group's operating margin averaged 33.48% over the last 3 years. At present, the current operating margin for Goldman Sachs Group is 40%, 6.5 percentage points above its three-year average. Over the last 3 years, Goldman Sachs Group's operating margin peaked at 40% in Sep 2026 and reached a low of 23.2% in Dec 2023.

GS EBITDA margin

Across the last 3 years, Goldman Sachs Group had an average EBITDA margin of 38.64%. The latest EBITDA margin for Goldman Sachs Group is 43%, 4.4 percentage points above its three-year average. Looking back over the last 3 years, Goldman Sachs Group's EBITDA margin reached 43% at its highest point in Sep 2026 and 33.7% at its lowest in Dec 2023.

GS Net margin

Over the last 3 years, Goldman Sachs Group's net margin averaged 26.44%. Currently, Goldman Sachs Group's current net margin is 31.8%, which is 5.4 percentage points above its three-year average. During this period, net margin reached a high of 31.8% in Sep 2026 and a low of 18.4% in Dec 2023.

GS margin group comparison

Margins compared with peer-group, industry and sector averages

Goldman Sachs Group's gross margin of 100% is higher than the Financial Services sector, the industry and its peers average. In comparison with the Financial Services sector average of 83.5%, Goldman Sachs Group's gross margin is 20% higher.

GS margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Goldman Sachs Group's gross margin?

For the period ending Sep 30, 2026, GS recorded a gross margin of 100%.

What is Goldman Sachs Group's operating margin?

For the period ending Sep 30, 2026, GS recorded an operating margin of 40%.

What is Goldman Sachs Group's EBITDA margin?

The current EBITDA margin for GS is 43% as of Sep 30, 2026.

What is Goldman Sachs Group's net margin?

As of Sep 30, 2026, GS has a net margin of 31.8%.

What are the average margins of GS?

Looking back over 3 years, GS recorded average margins of 100.0% gross, 33.5% operating, 38.6% EBITDA, and 26.4% net.

What are the highest historical margins of GS?

Within the 5-year period, GS recorded its highest margins at 100% gross in Sep 2026, 45.6% operating in Dec 2021, 49% EBITDA in Dec 2021, and 36.5% net in Dec 2021.

What are the lowest historical margins of GS?

Within the 5-year period, GS recorded its lowest margins at 100% gross in Dec 2021, 22% operating in Sep 2023, 32.5% EBITDA in Sep 2023, and 17.2% net in Sep 2023.