The Goldman Sachs Group, Inc. (GS) Revenue-to-Profit Sankey Flow & SEC XBRL Financials
The Goldman Sachs Group, Inc. (GS) receives a Roarable Rating of D (Sell) and flashes a Red SELL / AVOID warning (51/100 RQD Confidence). Our SEC filing scanner spotted paper earnings outpacing real operating cash flow (+140.3% (NI vs OCF)) while unpaid customer invoices grew—a classic sign to step aside until cash flow catches up.
How GS Turns Every Dollar of Sales Into Real Bottom-Line Profit
Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory
| Fiscal Year | Revenue | Gross Margin | Op Margin | Net Profit | Free Cash Flow | ROIC % |
|---|---|---|---|---|---|---|
| FY 2025 | $58.28B | 52% | 37.5% | $17.18B | -$47.22B | 13.7% |
| FY 2024 | $53.51B | 52% | 34.4% | $14.28B | -$15.30B | 11.7% |
| FY 2023 | $46.25B | 52% | 23.2% | $8.52B | -$14.90B | 7.3% |
| FY 2022 | $47.37B | 52% | 28.5% | $11.26B | $4.96B | 9.6% |
| FY 2021 | $59.34B | 52% | 45.6% | $21.64B | $1.63B | 19.7% |
| FY 2020 | $44.56B | 52% | 28% | $9.46B | -$24.84B | 9.9% |
Goldman Sachs' disclosure pattern across accession 0000886982-26-000091 signals accelerating capital allocation friction, heightened prime brokerage counterparty vulnerability, and intensified regulatory drag across its FICC and asset management units. The firm has systematically upgraded language surrounding Basel III Endgame capital surcharge sensitivity and private credit liquidity mismatches. These redline modifications indicate compressed net interest margins and elevated repo-financing volatility ahead.
Management is explicitly preparing institutional investors for structural equity dilution and diminished share repurchases. Capital charges on market-making inventories and derivatives clearing will force GS to either exit low-margin FICC financing lines or accept structurally lower ROTCE.
The private credit roll-up strategy is hitting credit deterioration. Realized carried interest and incentive fees are drying up, while mark-to-model Level 3 assets face regulatory scrutiny and write-downs as middle-market borrowers default on floating-rate debt.
Clearing counterparties are aggressively ratcheting margin calls on GS's prime brokerage and quantitative client books. This locks up cash in low-yielding intraday liquidity buffers, reducing the leverage capacity that fuels institutional equities trading revenues.
Red-Light Warning Desk: How Pros Profit When Overhyped Stocks Crack (Featuring GS)
- ✓Live walkthrough of GS's RQD Radar, SEC cash-conversion gap & downside levels
- ✓3 asymmetric Bear/Hedge setups institutions use when 10-year yields stay elevated
- ✓Includes instant 24/7 email alert whenever any of your stocks flip to Red
GS Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure
SEC XBRL FY2024 → FY2025: Net share cannibal / buyback tailwind.
vs. +17.8% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).
No active Ellis Vennor swing setup published on GS today. View full Setup Ledger →
No direct multi-tier Butterfly edges indexed yet for GS. Explore sector supply chains on /butterfly.
GS Investor FAQ & Complete 8-Part Research Index
100% OPEN ACCESS • SEC EDGAR × CBOE × FREDHow profitable is The Goldman Sachs Group, Inc. (GS)?
In FY 2025 (10-K), GS converted $58.3B of revenue into a 52% gross margin, 37.5% operating margin, and $0 in free cash flow (0% FCF margin).