GSCE Return on Tangible Equity | The Goldman Sachs Group, Inc.

GOLDMAN SACHS GROUP INC Return Tang Equity

Return on tangible equity is the profit a company earns on the physical and financial capital its shareholders own, leaving out goodwill and other intangible assets, shown as a percentage. It is net income divided by tangible equity, which is shareholder equity minus goodwill and intangibles; the table shows both amounts. Because acquired goodwill is removed, it runs higher than ROE for companies that grew by acquisition, and it has no meaning when goodwill exceeds equity. Goodwill and intangibles are taken at the latest reported date on or before each equity date. Quarterly points divide the trailing four quarters of net income by the balance at that quarter end; annual points divide the filed fiscal-year net income by the fiscal-year-end balance.

GOLDMAN SACHS GROUP INC return tang equity for the quarter ending 2026-06-30 was 18.24%, a 37.99% increase year-over-year.
GOLDMAN SACHS GROUP INC return tang equity for the quarter ending 2026-03-31 was 15.60%, a 23.74% increase year-over-year.
GOLDMAN SACHS GROUP INC return tang equity for the quarter ending 2025-12-31 was 14.48%, a 17.39% increase year-over-year.
GOLDMAN SACHS GROUP INC return tang equity for the quarter ending 2025-09-30 was 14.12%, a 33.28% increase year-over-year.
GOLDMAN SACHS GROUP INC return tang equity for fiscal 2025 was 14.48%, a 17.39% increase from fiscal 2024.
GOLDMAN SACHS GROUP INC return tang equity for fiscal 2024 was 12.34%, a 60.17% increase from fiscal 2023.
GOLDMAN SACHS GROUP INC return tang equity for fiscal 2023 was 7.70%, a 24.50% decline from fiscal 2022.
GOLDMAN SACHS GROUP INC return tang equity for fiscal 2022 was 10.20%, a 50.39% decline from fiscal 2021.

Available history: 2007-11-30 to 2026-06-30
Data captured: 2026-06-30

Historical Return Tang Equity

Date	Return Tang Equity	Net income 12 month	Tangible equity
2026-06-30	18.24%	$20.97B	$115.01B
2026-03-31	15.60%	$18.07B	$115.8B
2025-12-31	14.48%	$17.18B	$118.63B
2025-09-30	14.12%	$16.67B	$118.06B
2025-06-30	13.22%	$15.56B	$117.75B
2025-03-31	12.61%	$14.88B	$118.02B
2024-12-31	12.33%	$14.28B	$115.75B
2024-09-30	10.59%	$12.17B	$114.9B
2024-06-30	9.93%	$11.24B	$113.18B
2024-03-31	8.39%	$9.41B	$112.26B
2023-12-31	7.70%	$8.52B	$110.6B
2023-09-30	7.06%	$7.83B	$110.97B
2023-06-30	8.03%	$8.85B	$110.16B
2023-03-31	9.54%	$10.56B	$110.68B
2022-12-31	10.20%	$11.26B	$110.42B
2022-09-30	12.32%	$13.87B	$112.61B
2022-06-30	14.54%	$16.18B	$111.28B
2022-03-31	17.10%	$18.74B	$109.57B
2021-12-31	20.56%	$21.64B	$105.25B
2021-09-30	21.86%	$22.21B	$101.58B
2021-06-30	20.78%	$20.2B	$97.17B
2021-03-31	16.23%	$15.08B	$92.94B
2020-12-31	10.37%	$9.46B	$91.21B
2020-09-30	7.81%	$6.87B	$87.92B
2020-06-30	6.30%	$5.38B	$85.44B
2020-03-31	8.46%	$7.43B	$87.79B
2019-12-31	9.88%	$8.47B	$85.68B
2019-09-30	10.39%	$9.09B	$87.42B
2019-06-30	11.22%	$9.73B	$86.73B
2019-03-31	11.47%	$9.88B	$86.12B
2018-12-31	12.16%	$10.46B	$86.03B
2018-09-30	7.25%	$5.99B	$82.62B
2018-06-30	6.79%	$5.6B	$82.45B
2018-03-31	6.12%	$4.86B	$79.48B
2017-12-31	5.48%	$4.29B	$78.19B
2017-09-30	10.41%	$8.56B	$82.23B
2017-06-30	10.32%	$8.53B	$82.6B
2017-03-31	10.28%	$8.52B	$82.85B
2016-12-31	8.93%	$7.4B	$82.8B
2016-09-30	7.01%	$5.82B	$83.01B
2016-06-30	6.25%	$5.15B	$82.37B
2016-03-31	5.29%	$4.37B	$82.7B
2015-12-31	7.37%	$6.08B	$82.58B
2015-09-30	8.96%	$7.48B	$83.54B
2015-06-30	9.94%	$8.3B	$83.49B
2015-03-31	11.48%	$9.29B	$80.94B
2014-12-31	10.78%	$8.48B	$78.64B
2014-09-30	11.10%	$8.64B	$77.89B
2014-06-30	10.26%	$7.92B	$77.16B
2014-03-31	10.47%	$7.81B	$74.61B
2013-12-31	10.85%	$8.04B	$74.09B
2013-09-30	11.76%	$8.6B	$73.16B
2013-06-30	11.69%	$8.6B	$73.55B
2013-03-31	10.51%	$7.63B	$72.55B
2012-12-31	10.59%	$7.48B	$70.62B
2010-09-30	14.89%	$10.92B	$73.3B
2010-06-30	17.08%	$12.21B	$71.47B
2010-03-31	21.00%	$15.03B	$71.57B
2009-12-31	19.30%	$13.39B	$69.34B
2009-09-25	9.66%	$6.32B	$65.35B
2009-06-26	6.33%	$3.97B	$62.81B

Annual Return Tang Equity

Date	Return Tang Equity	Net income 12 month	Tangible equity
2025-12-31	14.48%	$17.18B	$118.59B
2024-12-31	12.34%	$14.28B	$115.71B
2023-12-31	7.70%	$8.52B	$110.56B
2022-12-31	10.20%	$11.26B	$110.39B
2021-12-31	20.56%	$21.64B	$105.21B
2020-12-31	10.38%	$9.46B	$91.17B
2019-12-31	9.89%	$8.47B	$85.64B
2018-12-31	12.16%	$10.46B	$86B
2017-12-31	5.48%	$4.29B	$78.15B
2016-12-31	8.93%	$7.4B	$82.8B
2015-12-31	7.37%	$6.08B	$82.58B
2014-12-31	10.78%	$8.48B	$78.64B
2013-12-31	10.85%	$8.04B	$74.09B
2012-12-31	10.59%	$7.48B	$70.62B
2011-12-31	6.84%	$4.44B	$64.91B
2010-12-31	11.63%	$8.35B	$71.83B
2009-12-31	19.30%	$13.39B	$69.34B
2008-11-30	3.61%	$2.32B	$64.37B
2008-11-28	3.61%	$2.32B	$64.37B
2007-11-30	27.10%	$11.6B	$42.8B