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Goldman Sachs Group, Inc. (GS) shares have increased 26.8% year-to-date as of mid-2025, outpacing the financial industry’s 22.2% growth. In comparison, JPMorgan (JPM) and Morgan Stanley (MS) saw increases of 22.8% and 16.9%, respectively.
Goldman’s investment banking (IB) revenues surged 24% in 2024, reaching $7.73 billion, recovering from previous declines. The company maintained its top ranking in both announced and completed mergers and acquisitions (M&A). For the first half of 2025, IB revenues continued rising, supported by a strong deal pipeline amidst volatile market conditions.
As of June 30, 2025, Goldman Sachs had $153 billion in cash and cash equivalents, with a Tier 1 capital ratio above regulatory requirements. In response to its strong liquidity, the company increased its quarterly dividend to $4.00 per share, a 33.3% rise from prior levels, while also authorizing $40.6 billion for share repurchases.
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