The Goldman Sachs Group, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $6.63B | $5.63B | $4.62B | $4.10B | $3.72B | $4.74B | $4.11B | $2.99B |
| Depreciation & Amortization | $509.0M | $495.0M | $527.0M | $531.0M | $618.0M | $506.0M | $498.0M | $621.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $40.0M | $23.0M | $20.0M | $20.0M | $22.0M | $21.0M | $22.0M | $95.0M |
| Stock-Based Compensation | $439.0M | $2.53B | $258.0M | $237.0M | $533.0M | $2.42B | $104.0M | $120.0M |
| Net Cash from Operating Activities | $6.11B | $-31.87B | $-16.28B | $2.68B | $5.67B | $-37.23B | $46.77B | $-38.06B |
| Investing Activities | ||||||||
| Capital Expenditures | $502.0M | $565.0M | $531.0M | $558.0M | $476.0M | $499.0M | $586.0M | $466.0M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-28.57B | $-56.31B | $-5.03B | $-5.11B | $-11.33B | $-22.75B | $-7.12B | $-29.29B |
| Financing Activities | ||||||||
| Dividends Paid | $1.60B | $1.59B | $1.46B | $1.48B | $1.22B | $1.12B | $1.15B | $1.17B |
| Stock Repurchases | $4.00B | $5.00B | $3.00B | $2.00B | $3.00B | $4.36B | $2.00B | $1.00B |
| Net Cash from Financing Activities | $30.92B | $104.29B | $16.76B | $19.78B | $-13.26B | $42.83B | $-7.82B | $10.34B |
| Net Change in Cash | $7.74B | $15.27B | $-5.32B | $16.61B | $-14.44B | $-14.68B | $27.40B | $-51.64B |
| Free Cash Flow | $5.60B | $-32.43B | $-16.81B | $2.12B | $5.20B | $-37.73B | $46.18B | $-38.53B |