The Goldman Sachs Group, Inc. (NYSE: GS) released its FY21 Q4 and annual earnings report on Tuesday before the market opened. During the year, the firm generated record net revenues of $59.34 billion, record net earnings of $21.64 billion, and record diluted EPS of $59.45, each significantly surpassing the previous record. In addition, ROE1 of 23.0% was the highest since 2007.
Shares of the New York-based bank were down 2.51%.
Investment Banking generated record net revenues of $14.88 billion, driven by record net revenues in each of Financial advisory, Equity underwriting, and Debt underwriting.
The firm ranked #1 worldwide announced and completed mergers and acquisitions, and in worldwide equity and equity-related offerings, common stock offerings, and initial public offerings for the year.
Global Markets generated net revenues of $22.08 billion, the highest annual net revenues in 12 years, reflecting strength in both Equities and Fixed Income, Currency, and Commodities (FICC). Equities produced its second-highest net revenues and FICC had record financing net revenues.
Asset Management generated record net revenues of $14.92 billion, including record net revenues in Equity investments and the second-highest net revenues in Lending and debt investments.
Consumer & Wealth Management generated record net revenues of $7.47 billion, reflecting record net revenues in both Wealth Management and Consumer banking.
Firmwide assets under supervision3,4 increased $325 billion during the year, including record long-term net inflows of $130 billion, to a record $2.47 trillion. Firmwide Management and other fees were a record $7.57 billion in 2021.
Book value per common share increased by 20.4% during the year to $284.39.
“2021 was a record year for Goldman Sachs. The firm’s extraordinary performance is a testament to the strength of our client franchise and people. Moving forward, our leadership team remains committed to growing Goldman Sachs, diversifying our businesses and delivering strong returns for shareholders.”David M. Solomon, Chairman and Chief Executive Officer
EPS – $11.76
Revenue – $12.08 billion
Goldman Sachs’ FY21 Q3 results were released on October 15, 2021, and they topped analysts’ forecasts, with investment banking revenue increasing by over 90% and record fees from equities financing. It earned $14.93 per share on $13.61 billion in revenue.
The bank’s profit increased by 63 percent to $5.28 billion, or $14.93 per share, on revenue that increased by 26 percent to $13.61 billion.
The bank’s markets sector saw revenue rise 23 percent to $5.61 billion, as a jump in financing results offset an expected decline in bond trading.
The Goldman Sachs Group announced on January 12 that on January 27, 2022, it will redeem all of the issued and outstanding 0.481 percent Fixed Rate Notes due January 27, 2023 (the “Fixed Rate Notes”), as well as all of the issued and outstanding Floating Rate Notes due January 27, 2023 (the “Floating Rate Notes,” and, together with the Fixed Rate Notes, the “Notes”). The Fixed Rate Notes have a total principal amount of $2,250,000,000 outstanding, while the Floating Rate Notes have a total principal amount of $750,000,000.
The Goldman Sachs Group, Inc. is a financial company that offers various financial services to businesses, financial institutions, governments, and individuals all over the world.
Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management are the company’s four segments. Financial advisory services, such as strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs, are provided by the company’s Investment Banking segment, as well as middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services.
The company’s headquarters are in New York, New York, founded in 1869.