Goldman Sachs Group debt and dilution—

Borrowings, liquidity, share count and stock-based dilution.

Total debt

USD millions

$437,874M

Cash & equivalents

USD millions

$187,266M

Net debt

USD millions

$250,608M

Debt / equity

3.57×

Debt / assets

20.58%

Net debt / EBITDA

× · TTM

—

Operating income is unavailable in the extracted statements for this period.

Debt / FCF

× · TTM

—

Interest coverage

× · TTM

—

Operating income is unavailable in the extracted statements for this period.

Current ratio

—

The reported inputs required for this metric are unavailable in the extracted statements for this period.

Diluted shares

Million shares

304.9M shares

Basic shares

Million shares

300.1M shares

Share count growth

-4.34%

Share repurchases

USD millions

$4,000M

Quarterly data

Goldman Sachs Group capital history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	Total debtUSD millions	Cash & equivalentsUSD millions	Net debtUSD millions	Debt / equity×	Debt / assets%	Net debt / EBITDA×	Debt / FCF×	Interest coverage×	Current ratio×	Diluted sharesMillion shares	Basic sharesMillion shares	Share count growth%	Share repurchasesUSD millions
FY 2026 Q2	Jun 30, 2026	437,874	187,266	250,608	3.57×	20.58%	—	—	—	—	304.9	300.1	-4.34%	4,000
FY 2026 Q1	Mar 31, 2026	396,304	179,530	216,774	3.23×	19.24%	—	—	—	—	308	303.8	-5.3%	5,000
FY 2025 Q4	Dec 31, 2025	355,959	164,259	191,700	2.85×	19.67%	—	—	—	—	312.85	307.06	-4.77%	3,000
FY 2025 Q3	Sep 30, 2025	349,299	169,577	179,722	2.81×	19.32%	—	22.15×	—	—	315	309.6	-4.68%	2,000
FY 2025 Q2	Jun 30, 2025	348,971	152,967	196,004	2.81×	19.55%	—	—	—	—	318.3	313.7	-4.88%	3,000
FY 2025 Q1	Mar 31, 2025	333,870	167,408	166,462	2.69×	18.9%	—	—	—	—	324.5	320.8	-4.41%	4,360
FY 2024 Q4	Dec 31, 2024	312,343	182,092	130,251	2.56×	18.64%	—	—	—	—	328.54	322.44	-3.97%	2,000
FY 2024 Q3	Sep 30, 2024	325,621	154,689	170,932	2.69×	18.84%	—	—	—	—	330.8	324.8	-4.1%	1,000
FY 2024 Q2	Jun 30, 2024	311,401	206,326	105,075	2.61×	18.83%	—	—	—	—	335.5	329.8	-3.65%	3,500
FY 2024 Q1	Mar 31, 2024	312,522	209,385	103,137	2.64×	18.4%	—	—	—	—	339.5	335.6	-3.17%	1,500
FY 2023 Q4	Dec 31, 2023	317,822	241,577	76,245	2.72×	19.36%	—	—	—	—	341.05	335.76	-3.91%	1,000
FY 2023 Q3	Sep 30, 2023	294,033	239,879	54,154	2.51×	18.64%	—	—	—	—	343.9	338.7	-4%	1,500
FY 2023 Q2	Jun 30, 2023	300,869	270,931	29,938	2.58×	19.15%	—	9.56×	—	—	347.2	342.3	-3.58%	750
FY 2023 Q1	Mar 31, 2023	305,397	229,327	76,070	2.6×	19.85%	—	8.11×	—	—	351.3	346.6	-1.31%	2,546
FY 2022 Q4	Dec 31, 2022	308,099	241,825	66,274	2.63×	21.37%	—	62.12×	—	—	356.62	349.43	0.8%	1,500
FY 2022 Q3	Sep 30, 2022	291,815	284,251	7,564	2.45×	18.75%	—	6.56×	—	—	359.2	352.8	1.29%	1,000
FY 2022 Q2	Jun 30, 2022	308,059	288,606	19,453	2.61×	19.24%	—	—	—	—	360.5	355	1.2%	500
FY 2022 Q1	Mar 31, 2022	316,468	274,164	42,304	2.75×	19.91%	—	—	—	—	355.9	351.2	-1.51%	500
FY 2021 Q4	Dec 31, 2021	301,047	261,036	40,011	2.74×	20.56%	—	—	—	—	352.54	346.64	-2.66%	500
FY 2021 Q3	Sep 30, 2021	291,770	211,830	79,940	2.74×	20.22%	—	—	—	—	353.9	348.3	-2.14%	1,000
FY 2021 Q2	Jun 30, 2021	300,670	240,289	60,381	2.95×	21.66%	—	4.92×	—	—	356	350.8	-1.38%	1,000
FY 2021 Q1	Mar 31, 2021	277,507	191,155	86,352	2.84×	21.32%	—	9.46×	—	—	360.9	356.6	-0.39%	2,700
FY 2020 Q4	Dec 31, 2020	266,351	155,842	110,509	2.78×	22.9%	—	—	—	—	361.19	356.1	-1.74%	0
FY 2020 Q3	Sep 30, 2020	261,964	153,201	108,763	2.83×	23.14%	—	17.87×	—	—	359.9	355.9	-3.81%	0
FY 2020 Q2	Jun 30, 2020	266,891	132,599	134,292	2.96×	23.38%	—	—	—	—	355.7	355.7	-5.02%	0
FY 2020 Q1	Mar 31, 2020	262,624	105,489	157,135	2.84×	24.1%	—	39.29×	—	—	361.1	358	-5.74%	1,928
FY 2019 Q4	Dec 31, 2019	255,363	133,546	121,817	2.83×	25.72%	—	16.56×	—	—	367.49	362.4	-4.5%	2,162
FY 2019 Q3	Sep 30, 2019	—	94,094	—	—	—	—	—	—	—	374.3	370	-4%	673
FY 2019 Q2	Jun 30, 2019	—	91,092	—	—	—	—	—	—	—	378	374.5	-3.43%	1,250
FY 2019 Q1	Mar 31, 2019	—	87,884	—	—	—	—	—	—	—	382.4	379.8	-2.39%	1,250
FY 2018 Q4	Dec 31, 2018	264,651	130,547	134,104	2.93×	28.4%	—	21.28×	—	—	383.97	379.47	-2.63%	1,250
FY 2018 Q3	Sep 30, 2018	—	118,871	—	—	—	—	—	—	—	390.5	385.4	-3.21%	1,244
FY 2018 Q2	Jun 30, 2018	—	131,417	—	—	—	—	—	—	—	392.6	387.8	-4.51%	0
FY 2018 Q1	Mar 31, 2018	—	120,503	—	—	—	—	—	—	—	393.8	389.1	-5.67%	800
FY 2017 Q4	Dec 31, 2017	—	110,051	—	—	—	—	—	—	—	397.53	389.73	-6.13%	1,629
FY 2017 Q3	Sep 30, 2017	—	116,610	—	—	—	—	—	—	—	405.7	398.2	-5.73%	2,174
FY 2017 Q2	Jun 30, 2017	—	110,888	—	—	—	—	—	—	—	413.3	406.1	-5.97%	1,466
FY 2017 Q1	Mar 31, 2017	—	123,035	—	—	—	—	—	—	—	420.1	412.5	-6.42%	1,503
FY 2016 Q4	Dec 31, 2016	—	121,711	—	—	—	—	—	—	—	424.08	415.19	-6.08%	1,488
FY 2016 Q3	Sep 30, 2016	—	99,535	—	—	—	—	—	—	—	430.2	422.4	-5.92%	1,296
FY 2016 Q2	Jun 30, 2016	—	103,293	—	—	—	—	—	—	—	439.2	431.9	-4.32%	1,738
FY 2016 Q1	Mar 31, 2016	—	79,169	—	—	—	—	—	—	—	447.4	440.8	-2.76%	1,556
FY 2015 Q4	Dec 31, 2015	—	75,105	—	—	—	—	—	—	—	451.78	442.08	-1.83%	1,590
FY 2015 Q3	Sep 30, 2015	—	65,575	—	—	—	—	—	—	—	458.6	449	-1.43%	1,050
FY 2015 Q2	Jun 30, 2015	—	60,845	—	—	—	—	—	—	—	461.6	451.4	-2.23%	245
FY 2015 Q1	Mar 31, 2015	—	63,129	—	—	—	—	—	—	—	462.9	453.3	-3.27%	1,250
FY 2014 Q4	Dec 31, 2014	—	57,600	—	—	—	—	—	—	—	463.41	450.29	-3.61%	1,250
FY 2014 Q3	Sep 30, 2014	—	54,150	—	—	—	—	—	—	—	469.2	455.5	-1.7%	1,250
FY 2014 Q2	Jun 30, 2014	—	56,983	—	—	—	—	—	—	—	475.9	461.7	-2.43%	1,250
FY 2014 Q1	Mar 31, 2014	—	58,858	—	—	—	—	—	—	—	484.6	468.6	-2.8%	1,719
FY 2013 Q4	Dec 31, 2013	—	61,133	—	—	—	—	—	—	—	488.92	467.15	-3%	1,400
FY 2013 Q3	Sep 30, 2013	—	65,478	—	—	—	—	—	—	—	496.4	463.4	-5.66%	1,650
FY 2013 Q2	Jun 30, 2013	—	72,398	—	—	—	—	—	—	—	503.5	473.2	-5.64%	—
FY 2013 Q1	Mar 31, 2013	—	63,333	—	—	—	—	—	—	—	509.8	482.1	-5.62%	1,525
FY 2012 Q4	Dec 31, 2012	—	72,669	—	—	—	—	—	—	—	504.19	481.61	—	1,524
FY 2012 Q3	Sep 30, 2012	—	63,639	—	—	—	—	—	—	—	510.9	491.2	-5.21%	—
FY 2012 Q2	Jun 30, 2012	—	—	—	—	—	—	—	—	—	520.3	501.5	-5.72%	—
FY 2012 Q1	Mar 31, 2012	—	—	—	—	—	—	—	—	—	529.2	510.8	-5.51%	365
FY 2011 Q4	Dec 31, 2011	—	56,008	—	—	—	—	—	—	—	—	—	—	—
FY 2011 Q3	Sep 30, 2011	—	—	—	—	—	—	—	—	—	518.2	518.2	-4.25%	—
FY 2011 Q2	Jun 30, 2011	—	—	—	—	—	—	—	—	—	569.5	531.9	-1.46%	—
FY 2011 Q1	Mar 31, 2011	—	—	—	—	—	—	—	—	—	583	540.6	-0.99%	1,481
FY 2010 Q4	Dec 31, 2010	—	39,788	—	—	—	—	—	—	—	—	—	—	—
FY 2010 Q3	Sep 30, 2010	—	—	—	—	—	—	—	—	—	582.7	541.2	2.91%	—
FY 2010 Q2	Jun 30, 2010	—	—	—	—	—	—	—	—	—	580.4	539.8	5%	—
FY 2010 Q1	Mar 31, 2010	—	—	—	—	—	—	—	—	—	590	546	—	2,269
FY 2009 Q4	Dec 31, 2009	—	—	—	—	—	—	—	—	—	584.39	530.59	—	0
FY 2009 Q3	Sep 25, 2009	—	—	—	—	—	—	—	—	—	576.9	525.9	—	0
FY 2009 Q2	Jun 26, 2009	—	—	—	—	—	—	—	—	—	551	514.1	—	0

Sources and calculations

Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.

Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.

Market prices: Yahoo Finance · GS, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.

Total debt: Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
Cash & equivalents: Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
Net debt: Total debt − cash and equivalents. Negative means net cash.
Debt / equity: Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
Debt / assets: Total debt / total assets × 100.
Net debt / EBITDA: Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
Debt / FCF: Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
Interest coverage: TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
Current ratio: Current assets / positive current liabilities.
Diluted shares: Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
Basic shares: Reported weighted average basic shares, normalized for subsequent recorded stock splits.
Share count growth: Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
Share repurchases: Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.