Direct Answer
Goldman Sachs reports revenue across 3 business segments in its fiscal 2025 Form 10-K. Global Banking and Markets is the largest, with $41.5 billion of revenue (71% of the total), followed by Asset and Wealth Management at $16.7 billion (29%).
How Does Goldman Sachs Make Money?
Global Banking and Markets supplies 71% of revenue, so Goldman Sachs's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Global Banking and Markets grew fastest (+18.2%) and Platform Solutions slowest (-92.9%), so the revenue mix tilts toward Global Banking and Markets while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Global Banking and Markets | $41.5 billion | $35.1 billion | 71.1% | 18.2% |
| Asset and Wealth Management | $16.7 billion | $16.3 billion | 28.6% | 2.2% |
| Platform Solutions | $151 million | $2.1 billion | 0.3% | -92.9% |
Where Does Goldman Sachs's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Americas | $36.5 billion | $34.4 billion | 62.7% | 6.1% |
| EMEA | $14.2 billion | $12.3 billion | 24.3% | 15.6% |
| Asia | $7.6 billion | $6.8 billion | 13.0% | 11.2% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Goldman Sachs's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Goldman Sachs reported in the segment note and revenue disclosures of its Form 10-K filed February 25, 2026 (accession 0000886982-26-000091), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Goldman Sachs's business segments?
In its fiscal 2025 Form 10-K, Goldman Sachs reports revenue for Global Banking and Markets, Asset and Wealth Management and Platform Solutions.
Which part of Goldman Sachs brings in the most revenue?
Global Banking and Markets, with $41.5 billion of revenue in fiscal 2025, or 71% of the total.
Where does Goldman Sachs report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 25, 2026, alongside management's discussion of each segment's results.