53/100B865.63
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Q4 FY2026 · Earnings report
EPS estimate 15.93Revenue estimate 17.73B
Q4 FY2026 · Earnings report
EPS estimate 15.93Revenue estimate 17.73B
Goldman Sachs Group free cash flow 1999–2026
Goldman Sachs Group's free cash flow in Q2 FY2026, the three months to 30 June 2026, was 5.60B USD, up 7.8% on the same quarter a year before. Goldman Sachs Group's free cash flow in fiscal year 2025 was -47.22B USD, against -15.30B USD on the year before.
Last updated 4 Nov 2026 · Next report 19 Jan 2027
Free cash flow
Free cash flow Free cash flow margin
Growth
| Fiscal year | Period ending | Free cash flow | Growth | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| TTM | 30 Jun 2026 | -41.52B | — | -59.56% | -39.36B | -2.16B | -134.83 |
| FY2025 | 31 Dec 2025 | -47.22B | — | -81.02% | -45.15B | -2.06B | -148.67 |
| FY2024 | 31 Dec 2024 | -15.30B | — | -28.60% | -13.21B | -2.09B | -45.87 |
| FY2023 | 31 Dec 2023 | -14.90B | -400.46% | -32.22% | -12.59B | -2.32B | -43.10 |
| FY2022 | 31 Dec 2022 | 4.96B | +204.11% | 10.47% | 8.71B | -3.75B | 13.85 |
| FY2021 | 31 Dec 2021 | 1.63B | — | 2.75% | 6.30B | -4.67B | 4.58 |
| FY2020 | 31 Dec 2020 | -24.84B | -261.06% | -55.76% | -18.54B | -6.31B | -68.95 |
| FY2019 | 31 Dec 2019 | 15.43B | +24.01% | 42.23% | 23.87B | -8.44B | 41.08 |
| FY2018 | 31 Dec 2018 | 12.44B | — | 34.12% | 20.42B | -7.98B | 31.88 |
| FY2017 | 31 Dec 2017 | -20.93B | -876.80% | -64.16% | -17.74B | -3.19B | -51.15 |
| FY2016 | 31 Dec 2016 | 2.69B | -47.46% | 8.75% | 5.57B | -2.88B | 6.19 |
| FY2015 | 31 Dec 2015 | 5.13B | — | 15.18% | 6.96B | -1.83B | 11.18 |
| FY2014 | 31 Dec 2014 | -8.30B | -316.34% | -24.04% | -7.62B | -678.00M | -17.54 |
| FY2013 | 31 Dec 2013 | 3.84B | -67.81% | 11.22% | 4.54B | -706.00M | 7.68 |
| FY2012 | 31 Dec 2012 | 11.92B | -41.75% | 34.89% | 12.88B | -961.00M | 23.09 |
| FY2011 | 31 Dec 2011 | 20.46B | — | 71.02% | 21.65B | -1.18B | 36.74 |
| FY2010 | 31 Dec 2010 | -7.38B | -115.60% | -18.86% | -6.16B | -1.23B | -12.62 |
| FY2009 | 31 Dec 2009 | 47.32B | — | 104.75% | 48.88B | -1.56B | 85.89 |
| FY2008 | 28 Nov 2008 | -133.00M | — | -0.60% | 1.89B | -2.03B | -0.29 |
| FY2007 | 30 Nov 2007 | -70.33B | — | -152.93% | -68.20B | -2.13B | -152.49 |
| FY2006 | 24 Nov 2006 | -49.36B | — | -131.05% | -47.62B | -1.74B | -103.40 |
| FY2005 | 25 Nov 2005 | -13.83B | — | -54.81% | -12.41B | -1.42B | -27.66 |
| FY2004 | 26 Nov 2004 | -34.22B | — | -163.33% | -33.61B | -608.00M | -67.03 |
| FY2003 | 28 Nov 2003 | -16.25B | — | -101.40% | -15.66B | -592.00M | -31.74 |
| FY2002 | 29 Nov 2002 | -11.09B | — | -79.26% | -10.08B | -1.01B | -21.11 |
| FY2001 | 30 Nov 2001 | -16.55B | -317.85% | -104.65% | -15.18B | -1.37B | -30.54 |
| FY2000 | 30 Nov 2000 | 7.60B | — | 45.78% | 11.14B | -3.54B | 14.85 |
| FY1999 | 26 Nov 1999 | -13.43B | — | -100.65% | -12.59B | -843.00M | -27.65 |
| Quarter | Period ending | Free cash flow | Growth on a year before | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | 5.60B | +7.83% | 27.55% | 6.11B | -502.00M | 18.38 |
| Q1 FY2026 | 31 Mar 2026 | -32.43B | — | -188.27% | -31.87B | -565.00M | -105.30 |
| Q4 FY2025 | 31 Dec 2025 | -16.81B | -136.39% | -124.92% | -16.28B | -531.00M | -52.92 |
| Q3 FY2025 | 30 Sept 2025 | 2.12B | — | 13.98% | 2.68B | -558.00M | 6.74 |
| Q2 FY2025 | 30 Jun 2025 | 5.20B | -6.85% | 35.63% | 5.67B | -476.00M | 16.32 |
| Q1 FY2025 | 31 Mar 2025 | -37.73B | — | -250.49% | -37.23B | -499.00M | -116.27 |
| Q4 FY2024 | 31 Dec 2024 | 46.18B | — | 332.97% | 46.77B | -586.00M | 140.62 |
| Q3 FY2024 | 30 Sept 2024 | -38.53B | — | -303.38% | -38.06B | -466.00M | -116.46 |
| Q2 FY2024 | 30 Jun 2024 | 5.58B | -82.14% | 43.81% | 6.12B | -542.00M | 16.63 |
| Q1 FY2024 | 31 Mar 2024 | -28.54B | -424.00% | -200.77% | -28.04B | -497.00M | -84.05 |
| Q4 FY2023 | 31 Dec 2023 | -28.90B | — | -255.38% | -28.36B | -546.00M | -83.59 |
| Q3 FY2023 | 30 Sept 2023 | -26.04B | -273.38% | -220.37% | -25.53B | -507.00M | -75.72 |
| Q2 FY2023 | 30 Jun 2023 | 31.24B | -29.56% | 286.69% | 31.90B | -666.00M | 89.96 |
| Q1 FY2023 | 31 Mar 2023 | 8.81B | — | 72.05% | 9.40B | -597.00M | 25.07 |
| Q4 FY2022 | 31 Dec 2022 | -33.92B | -242.64% | -320.17% | -33.16B | -754.00M | -95.08 |
| Q3 FY2022 | 30 Sept 2022 | 15.02B | — | 125.43% | 16.01B | -990.00M | 41.82 |
| Q2 FY2022 | 30 Jun 2022 | 44.34B | +131.99% | 373.76% | 45.39B | -1.05B | 123.00 |
| Q1 FY2022 | 31 Mar 2022 | -20.49B | — | -158.41% | -19.53B | -953.00M | -57.56 |
| Q4 FY2021 | 31 Dec 2021 | 23.78B | +62.74% | 188.13% | 24.90B | -1.12B | 67.49 |
| Q3 FY2021 | 30 Sept 2021 | -40.14B | -218.28% | -295.00% | -39.26B | -883.00M | -113.43 |
| Q2 FY2021 | 30 Jun 2021 | 19.11B | — | 124.21% | 20.47B | -1.35B | 53.69 |
| Q1 FY2021 | 31 Mar 2021 | -6.50B | — | -36.69% | -5.18B | -1.31B | -18.00 |
| Q4 FY2020 | 31 Dec 2020 | 14.61B | -70.37% | 109.82% | 16.01B | -1.40B | 40.47 |
| Q3 FY2020 | 30 Sept 2020 | 33.94B | +479.64% | 314.79% | 34.94B | -998.00M | 94.30 |
| Q2 FY2020 | 30 Jun 2020 | -12.71B | -271.81% | -82.63% | -11.65B | -1.07B | -35.40 |
| Q1 FY2020 | 31 Mar 2020 | -55.87B | — | -458.77% | -53.03B | -2.84B | -154.73 |
| Q4 FY2019 | 31 Dec 2019 | 49.31B | +206.89% | 357.49% | 51.35B | -2.05B | 134.24 |
| Q3 FY2019 | 30 Sept 2019 | 5.86B | — | 45.84% | 8.08B | -2.23B | 15.64 |
| Q2 FY2019 | 30 Jun 2019 | 7.40B | +15.43% | 52.29% | 9.44B | -2.04B | 19.57 |
| Q1 FY2019 | 31 Mar 2019 | -47.13B | — | -357.45% | -45.01B | -2.13B | -123.26 |
| Q4 FY2018 | 31 Dec 2018 | 16.07B | — | 188.30% | 18.10B | -2.04B | 41.81 |
| Q3 FY2018 | 30 Sept 2018 | -7.51B | -467.24% | -57.66% | -5.31B | -2.20B | -19.23 |
| Q2 FY2018 | 30 Jun 2018 | 6.41B | — | 66.52% | 8.60B | -2.19B | 16.33 |
| Q1 FY2018 | 31 Mar 2018 | -2.53B | — | -25.07% | -964.00M | -1.56B | -6.42 |
| Q4 FY2017 | 31 Dec 2017 | -7.60B | -354.62% | -71.24% | -6.62B | -975.00M | -19.49 |
| Q3 FY2017 | 30 Sept 2017 | 2.05B | — | 24.56% | 2.73B | -689.00M | 5.04 |
| Q2 FY2017 | 30 Jun 2017 | -11.17B | -225.02% | -141.65% | -10.49B | -683.00M | -27.03 |
| Q1 FY2017 | 31 Mar 2017 | -4.20B | — | -40.97% | -3.36B | -838.00M | -10.00 |
| Q4 FY2016 | 31 Dec 2016 | 2.98B | -51.61% | 29.09% | 3.80B | -813.00M | 7.05 |
| Q3 FY2016 | 30 Sept 2016 | -4.72B | -696.84% | -57.80% | -3.90B | -821.00M | -10.97 |
| Q2 FY2016 | 30 Jun 2016 | 8.94B | — | 112.66% | 9.61B | -669.00M | 20.35 |
| Q1 FY2016 | 31 Mar 2016 | -4.51B | -170.20% | -57.73% | -3.93B | -573.00M | -10.07 |
| Q4 FY2015 | 31 Dec 2015 | 6.17B | +28.53% | 70.71% | 6.80B | -628.00M | 13.65 |
| Q3 FY2015 | 30 Sept 2015 | 791.00M | — | 9.72% | 1.30B | -507.00M | 1.72 |
| Q2 FY2015 | 30 Jun 2015 | -8.25B | -2,525.59% | -78.13% | -7.85B | -396.00M | -17.87 |
| Q1 FY2015 | 31 Mar 2015 | 6.42B | — | 60.63% | 6.72B | -302.00M | 13.86 |
| Q4 FY2014 | 31 Dec 2014 | 4.80B | +131.56% | 54.15% | 4.97B | -170.00M | 10.35 |
| Q3 FY2014 | 30 Sept 2014 | -9.05B | — | -107.95% | -8.90B | -155.00M | -19.30 |
| Q2 FY2014 | 30 Jun 2014 | 340.00M | -96.96% | 3.73% | 529.00M | -189.00M | 0.71 |
| Q1 FY2014 | 31 Mar 2014 | -4.39B | — | -47.01% | -4.22B | -164.00M | -9.05 |
| Q4 FY2013 | 31 Dec 2013 | 2.07B | -23.46% | 23.59% | 2.28B | -208.00M | 4.24 |
| Q3 FY2013 | 30 Sept 2013 | -3.54B | -517.45% | -52.66% | -3.37B | -169.00M | -7.13 |
| Q2 FY2013 | 30 Jun 2013 | 11.17B | +114.27% | 129.75% | 11.33B | -158.00M | 22.19 |
| Q1 FY2013 | 31 Mar 2013 | -5.87B | -286.44% | -58.17% | -5.70B | -171.00M | -11.51 |
| Q4 FY2012 | 31 Dec 2012 | 2.71B | -85.76% | 30.99% | 2.96B | -254.00M | 5.35 |
| Q3 FY2012 | 30 Sept 2012 | 848.00M | — | 10.15% | 1.01B | -165.00M | 1.66 |
| Q2 FY2012 | 30 Jun 2012 | 5.22B | -50.39% | 78.69% | 5.37B | -152.00M | 10.02 |
| Q1 FY2012 | 31 Mar 2012 | 3.15B | +93.96% | 31.64% | 3.54B | -390.00M | 5.95 |
| Q4 FY2011 | 31 Dec 2011 | 19.01B | — | 314.27% | 19.22B | -205.00M | 35.75 |
| Q3 FY2011 | 30 Sept 2011 | -10.68B | -4,765.50% | -297.85% | -10.23B | -459.00M | -20.62 |
| Q2 FY2011 | 30 Jun 2011 | 10.51B | +7.50% | 110.08% | 10.76B | -243.00M | 18.46 |
| Q1 FY2011 | 31 Mar 2011 | 1.62B | — | 13.65% | 1.90B | -277.00M | 2.78 |
| Q4 FY2010 | 31 Dec 2010 | -9.61B | -138.37% | -111.20% | -9.28B | -328.00M | -16.36 |
| Q3 FY2010 | 30 Sept 2010 | 229.00M | -96.69% | 2.57% | 676.00M | -447.00M | 0.39 |
| Q2 FY2010 | 30 Jun 2010 | 9.78B | -21.44% | 92.92% | 9.95B | -174.00M | 16.85 |
| Q1 FY2010 | 31 Mar 2010 | -7.78B | -366.60% | -60.92% | -7.50B | -278.00M | -13.19 |
| Q4 FY2009 | 31 Dec 2009 | 25.04B | — | 260.47% | 25.52B | -479.00M | 42.88 |
| Q3 FY2009 | 25 Sept 2009 | 6.91B | — | 55.84% | 7.33B | -424.00M | 11.97 |
| Q2 FY2009 | 26 Jun 2009 | 12.45B | — | 90.46% | 12.82B | -375.00M | 22.59 |
| Q1 FY2009 | 27 Mar 2009 | 2.92B | — | 30.97% | 3.20B | -278.00M | 5.97 |
| Q4 FY2008 | 28 Nov 2008 | 11.93B | — | 324.01% | 12.50B | -568.00M | 25.94 |
| Q3 FY2008 | 29 Aug 2008 | 2.13B | — | 15.65% | 2.61B | -481.00M | 4.76 |
| Q2 FY2008 | 30 May 2008 | 8.82B | — | 49.96% | 9.43B | -617.00M | 19.70 |
| Q1 FY2008 | 29 Feb 2008 | -23.01B | — | -123.52% | -22.65B | -361.00M | -50.74 |
| Q4 FY2007 | 30 Nov 2007 | -4.67B | — | -43.48% | -3.97B | -702.00M | -10.79 |
| Q3 FY2007 | 31 Aug 2007 | -19.41B | — | -157.37% | -19.00B | -414.00M | -42.44 |
| Q2 FY2007 | 25 May 2007 | -31.66B | — | -155.56% | -31.21B | -446.00M | -68.21 |
| Q1 FY2007 | 23 Feb 2007 | -14.59B | — | -114.61% | -14.02B | -568.00M | -30.92 |
| Q4 FY2006 | 24 Nov 2006 | -6.18B | -4,089.68% | -34.12% | -6.05B | -134.00M | -13.13 |
| Q3 FY2006 | 25 Aug 2006 | -7.85B | — | -49.13% | -7.28B | -576.00M | -16.45 |
| Q2 FY2006 | 26 May 2006 | -15.00B | — | -83.30% | -14.64B | -360.00M | -31.35 |
| Q1 FY2006 | 24 Feb 2006 | -20.33B | — | -194.86% | -19.66B | -674.00M | -42.06 |
| Q4 FY2005 | 25 Nov 2005 | 155.00M | — | 1.28% | 551.00M | -396.00M | 0.32 |
| Q3 FY2005 | 26 Aug 2005 | -5.89B | — | -79.63% | -5.50B | -386.00M | -11.91 |
| Q2 FY2005 | 27 May 2005 | -1.89B | -178.90% | -21.06% | -1.75B | -132.00M | -3.72 |
| Q1 FY2005 | 25 Feb 2005 | -6.22B | — | -95.43% | -5.71B | -507.00M | -12.07 |
| Q4 FY2004 | 26 Nov 2004 | -8.17B | -924.95% | -109.55% | -7.70B | -470.00M | -16.14 |
| Q3 FY2004 | 27 Aug 2004 | -13.62B | — | -293.09% | -13.54B | -77.00M | -26.97 |
| Q2 FY2004 | 28 May 2004 | 2.39B | — | 42.37% | 2.46B | -71.00M | 4.65 |
| Q1 FY2004 | 27 Feb 2004 | -14.99B | — | -248.49% | -14.83B | -157.00M | -28.99 |
| Q4 FY2003 | 28 Nov 2003 | 990.00M | -88.84% | 16.98% | 1.21B | -220.00M | 1.93 |
| Q3 FY2003 | 29 Aug 2003 | -3.82B | — | -66.82% | -3.70B | -116.00M | -7.46 |
| Q2 FY2003 | 30 May 2003 | -5.18B | -787.25% | -86.47% | -5.03B | -143.00M | -10.14 |
| Q1 FY2003 | 28 Feb 2003 | -8.24B | — | -196.87% | -8.13B | -113.00M | -16.10 |
| Q4 FY2002 | 29 Nov 2002 | 8.87B | — | 175.69% | 9.05B | -178.00M | 17.22 |
| Q3 FY2002 | 30 Aug 2002 | -16.76B | -271.93% | -459.30% | -16.24B | -523.00M | -32.21 |
| Q2 FY2002 | 31 May 2002 | 753.00M | — | 19.55% | 854.00M | -101.00M | 1.42 |
| Q1 FY2002 | 22 Feb 2002 | -3.95B | — | -69.25% | -3.74B | -206.00M | -7.39 |
| Q4 FY2001 | 30 Nov 2001 | -10.35B | -176.02% | -301.93% | -10.11B | -234.00M | -19.38 |
| Q3 FY2001 | 31 Aug 2001 | 9.75B | +125.49% | 132.45% | 10.04B | -291.00M | 18.06 |
| Q2 FY2001 | 25 May 2001 | -12.00B | — | -147.11% | -11.65B | -347.00M | -21.99 |
| Q1 FY2001 | 23 Feb 2001 | -3.95B | — | -41.53% | -3.45B | -498.00M | -7.19 |
| Q4 FY2000 | 30 Nov 2000 | 13.61B | — | 170.36% | 16.16B | -2.55B | 26.27 |
| Q3 FY2000 | 25 Aug 2000 | 4.32B | — | 48.84% | 4.73B | -407.00M | 8.49 |
| Q2 FY2000 | 26 May 2000 | -5.13B | -722.45% | -62.58% | -4.84B | -291.00M | -10.05 |
| Q1 FY2000 | 25 Feb 2000 | -5.21B | — | -65.41% | -4.92B | -292.00M | -10.31 |
| Q4 FY1999 | 26 Nov 1999 | -7.76B | — | -115.57% | -7.28B | -475.00M | -15.86 |
| Q3 FY1999 | 27 Aug 1999 | -3.99B | — | -62.00% | -3.82B | -172.00M | -8.26 |
| Q2 FY1999 | 28 May 1999 | 824.00M | — | 23.75% | 917.00M | -93.00M | 1.72 |
| Q1 FY1999 | 28 Feb 1999 | -2.51B | — | -83.17% | -2.40B | -103.00M | -5.64 |
Figures in USD. Free cash flow is operating cash flow less capital expenditure. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Stock buybacks,Cash flow
Common questions about Goldman Sachs Group's free cash flow
Source: Financial Modeling Prep