Goldman Sachs earnings date
Goldman Sachs's next results are expected on January 21, 2027. Watch whether Goldman Sachs can turn client assets, acquisitions and market opportunities into durable fees and returns while preserving capital.
What has Goldman Sachs guided for the year?
Asset & Wealth Management has a medium-term target of an approximately 30% pre-tax margin. It also targets approximately 17–19% return on equity over three to five years from year-end 2025. Those are destinations, not immediate results: hiring advisers, building technology and integrating acquisitions can raise costs first.
Goldman also wants fee-paying alternative assets to reach $750 billion by the end of 2030, supported by annual fundraising of $75–100 billion. These are clients’ investments in areas such as private equity, private credit and real estate. The clients own the money; Goldman earns fees for managing it. If a pension plan puts $100 into a Goldman-managed fund, the pension plan still owns the investment, while Goldman earns fees for overseeing it. The target is therefore a possible stream of recurring revenue, not cash Goldman can spend. Those ambitions explain why the firm is buying investment managers.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| 2026 annual effective tax rate | Year to Dec 2026 | 20.0% | 20.0% | Aug 3, 2026 |
What this means. The 20% effective tax rate means the company expects to pay about 20 cents in taxes for every dollar of profit, including profit from its lending businesses.
Has Goldman Sachs kept its past promises?
Goldman promised mid-teens returns over the business cycle and delivered 15.0% return on equity in 2025. Return on equity measures profit earned on common shareholders’ capital. Its efficiency ratio, which measures operating expenses as a share of revenue, was 64.4% in 2025, worse than the previous year. It improved to 59.4% in the first nine months of 2026, but stronger revenue can improve this measure without proving that automation caused the gain.
What are Goldman Sachs's last eight quarters of revenue and profit?
Goldman reported September revenue of $18,679 million. Net income was $5,294 million, while diluted EPS was $17.01. Revenue rose 23% from September 2025, and EPS rose 39%, helped by lower preferred dividends and fewer diluted shares.
| Sep 2026 | |
|---|---|
| Revenue | 18,679 |
| Operating income | 7,003 |
| Net income | 5,294 |
| EPS, diluted | 17.01 |
What this means. The company's reported numbers still include its lending businesses and a business it sold in June 2026, so they do not show only its current businesses.
What should I watch in Goldman Sachs's next results?
The next tests are whether the acquisitions close, whether Goldman protects its capital and whether legal or tax costs consume future earnings. LCN should close by year-end 2026, and NEOS should follow in the first quarter of 2027 if approvals arrive. After that, investors should watch client retention, new money entering the funds and management fees. Reported assets can rise immediately after a purchase without proving that Goldman has created profitable growth.