| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q3'26 | October 13, 2026 | 9/12 | 2 high, 4 medium, 2 low flags | 0 | 0 | Call sheet → |
| Q2'26 | July 14, 2026 | 4/12 | 3 high, 3 medium, 1 low flags | 3 | 2 | Call sheet → |
| Q1'26 | April 13, 2026 | 6/12 | 1 high, 4 medium, 3 low flags | 4 | 0 | Call sheet → |
| Q4'25 | January 15, 2026 | 9/12 | 2 medium, 5 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q3'26 | Pending | For the full year, we continue to expect an effective tax rate of approximately 20%. FY period not ended; Q3 reaffirms the same ~20% guide, consistent so far. |
| Q3'26 | Pending | We expect these [incentive] fees to increase materially for the remainder of the year. Partial period (Q4) still outstanding, but Q3 incentive fees of $587M and guidance for elevated Q4 incentive fees are directionally consistent with the prior promise. |
| Q3'26 | Pending | We expect quarterly revenues for the remainder of the year to be broadly consistent with the second quarter [for Platform Solutions]. Q3 has ended but Platform Solutions was not mentioned at all on this call; actual not stated on the call. |
| Q3'26 | Pending | We now expect full-year fundraising to exceed $125 billion. FY period not yet ended at time of promise; management has since raised the target twice, now to ~$150 billion - a revision upward, not yet a delivered/missed outcome. |
| Q2'26 | Delivered | Continue evaluating acquisitions in AWM Closed Innovator and Industry Ventures deals as promised |
| Q2'26 | Pending | Full-year tax rate of approximately 20% Reiterated 20% guide despite 18.5% YTD rate |
| Q2'26 | Delivered | Deploy capital into client franchise at attractive returns ROE hit 23.5% but at the cost of dangerous SLR deterioration |
| Q2'26 | Missed | Maintain disciplined expense management Non-comp expenses jumped to $5.6B despite 'discipline' claims |
| Q2'26 | Missed | Sponsor activity to accelerate as conditions stabilize Still calling it 'subdued versus historical averages' with no acceleration |
| Q2'26 | Delivered | Continue to grow Asia equities business with excess capital Drove record financing revenues but hit SLR constraints faster than guided |
| Q1'26 | Delivered | Tax rate of approximately 20% for 2026 13.2% in Q1 due to stock comp, expect 20% full year |
| Q1'26 | Delivered | Efficiency ratio improvement toward 60% 60.5% in Q1, essentially at target |
| Q1'26 | Exceeded | Mid-teens ROE through the cycle 19.8% ROE in Q1, well above target |
| Q1'26 | Pending | AWM pretax margin target of 30% No specific margin disclosed for Q1, tracking toward target |
| Q1'26 | Exceeded | 5% long-term fee-based net inflows annually in wealth Delivered 9% in Q1, well ahead of target |
| Q1'26 | Pending | Annual fundraising target of $75-100 billion for alternatives $26B in Q1 puts them on lower end of range, need strong Q2-Q4 |
| Q4'25 | Exceeded | Continue to see strong momentum in investment banking backlog Backlog reached four-year high despite strong Q4 accruals |
| Q4'25 | Delivered | Make progress towards $1 billion annual incentive fees target Incentive fees rose 24% to $489 million, showing progress |
| Q4'25 | Delivered | Full year tax rate of approximately 22% Came in at 21.4%, slightly better than guided |
| Q4'25 | Delivered | Continue to expect growth in high single digits annually for management fees and private banking Management fees grew 10% YoY, private banking revenues up in high single digits |
| Q4'25 | Exceeded | Approximately $100 billion alternatives fundraising for 2025 Delivered $115 billion, substantially beating guidance |
| Q4'25 | Pending | Update with additional details on One Goldman Sachs 3.0 in January call Provided framework but still no concrete metrics or cost savings targets, timeline pushed to 'coming quarters' |
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