Curious about Goldman Sachs net worth in 2024? Let’s dive into the latest financial insights and see where this financial giant stands with Ando Money.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Goldman Sachs |
| Full Name | The Goldman Sachs Group, Inc. |
| Traded as | NYSE: GS |
| ISIN | US38141G1040 |
| Founded | 1869 |
| Founders | Marcus Goldman |
| Country/Territory | United States |
| Headquarters | New York, NY |
| Chief Executive Officer | David Solomon |
| Number of Employees | 44,400 |
| Market Cap | $143.97 billion |
| Total Assets | $1.7 trillion |
| Total Equity | $118 billion |
| Revenue | $14.21 billion (Q1 2024) |
| Net Income | $4.13 billion (Q1 2024) |
What is the Net Worth/Market Cap of Goldman Sachs in 2024?
As of 2024, Goldman Sachs (GS Group) boasts a market capitalization of $143.97 billion.
This positions GS Group competitively within the financial industry, though it lags behind HSBC, which has a market cap of $164.48 billion.
Conversely, GS Group outpaces Morgan Stanley at $149.6 billion and HDFC Bank at $147.31 billion.
This comparative positioning highlights GS Group’s strong market presence and financial stability in a competitive landscape.
Goldman Sachs Financial Performance Overview
Breakdown of Revenue Streams
Goldman Sachs operates through multiple revenue streams, each contributing significantly to its overall financial health.
- Investment Banking: This division is a powerhouse, generating substantial fees from advisory services, equity underwriting, and debt underwriting. In Q1 2024, investment banking fees reached $2.08 billion, marking a 32% increase compared to Q1 2023.
- Global Markets: A key driver of revenue, this segment includes Fixed Income, Currency, and Commodities (FICC), and Equities. FICC alone generated $4.32 billion in Q1 2024, a 10% rise from the previous year. The equities division also performed robustly, contributing $3.31 billion.
- Asset and Wealth Management: With net revenues of $3.79 billion in Q1 2024, this division saw a significant uptick due to higher management fees and gains from equity investments. Assets under supervision grew to a record $2.85 trillion.
- Platform Solutions: This newer segment focuses on consumer platforms and transaction banking, contributing $698 million in revenues for Q1 2024. Growth in this area was driven by higher average credit card and deposit balances.
Q1 2024 Financial Performance Highlights
In the first quarter of 2024, Goldman Sachs reported net revenues of $14.21 billion, a 16% increase from Q1 2023.
Net earnings were $4.13 billion, with a diluted EPS of $11.58. The firm’s annualized ROE stood at 14.8%, while ROTE was 15.9%.
Investment Banking Performance
Investment banking remains a core strength for GS Group. The segment generated $2.08 billion in fees in Q1 2024, driven by robust activity in advisory services, equity underwriting, and debt underwriting.
This performance underscores GS Group’ leading position in global M&A and capital markets.
Global Markets Division Insights
The global markets division saw substantial growth, with FICC revenues reaching $4.32 billion.
This increase was fueled by higher net revenues in FICC financing and intermediation, particularly in mortgages and structured lending.
Equities revenues also climbed, totaling $3.31 billion due to gains in derivatives and financing activities.
Asset and Wealth Management Analysis
Goldman Sachs’ asset and wealth management division reported $3.79 billion in net revenues for Q1 2024.
The increase was primarily due to higher management and other fees, reflecting the impact of increased assets under supervision. Private banking and lending also contributed significantly, with net revenues of $682 million.
Platform Solutions and Consumer Banking
Platform solutions generated $698 million in net revenues, marking a 24% increase from Q1 2023.
The consumer platforms segment, which includes credit card and deposit services, saw significant growth, highlighting Goldman Sachs’ expanding footprint in the consumer banking sector.
Operating Expenses and Efficiency Ratio
Operating expenses for Q1 2024 were $8.66 billion, a 3% rise from the previous year. Despite this increase, GS Group improved its efficiency ratio to 60.9%, reflecting better cost management and operational efficiency.
Capital Management and Shareholder Returns
The bank continues to prioritize shareholder returns. In Q1 2024, the firm repurchased 3.9 million shares worth $1.50 billion and declared a quarterly dividend of $2.75 per share.
These actions underscore the firm’s commitment to enhancing shareholder value.
Geographic Distribution of Revenue
The bank’ revenue distribution is diversified across regions. The Americas accounted for 65% of total revenues, followed by EMEA at 24%, and Asia at 11%.
This geographic diversity helps mitigate risks and capture growth opportunities worldwide.
Future Outlook and Strategic Priorities
Looking ahead, GS Group remains focused on strategic initiatives to drive growth and profitability.
Key priorities include expanding its consumer banking footprint, leveraging technology for innovation, and maintaining its leadership in investment banking and global markets.
Despite potential challenges such as regulatory changes and economic uncertainties, Goldman Sachs is well-positioned to achieve its long-term financial goals.
FAQs about Goldman Sachs
What is Goldman Sachs?
GS Group is a leading global investment banking firm. It serves corporations, governments, and individuals with financial services.
What services does Goldman Sachs provide?
The bank offers investment banking, asset management, securities underwriting, and financial advisory services.
How is Goldman Sachs structured?
The firm is divided into Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. Each segment serves different client needs.
What is Goldman Sachs’ history?
Founded in 1869, the bank started as a commercial paper business. It has grown into a global financial powerhouse.
What are the recent financial results of GS Group?
In Q1 2024, GS Group reported strong financial results. Investment banking and asset management showed robust performance.
How does GS Group approach risk management?
The bank uses comprehensive risk management strategies. It identifies, assesses, and mitigates risks using sophisticated models.
What is Goldman Sachs’ role in the global market?
GS Group facilitates capital formation, liquidity, and investment opportunities. It is a key player in global financial transactions.
What is the future outlook for GS Group?
The outlook is positive. GS Group plans to expand globally, enhance technology, and diversify services. It aims for continued growth and adaptation.
Conclusion
In conclusion, Goldman Sachs demonstrates a robust financial performance with strong revenue growth across its key divisions.
For more detailed financial insights and updates, visit andomoney.com.
