NASDAQ : STEP
StepStone Group Inc. — Financial statements
Financials · Asset Management · United States
Last price 44.47 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 5.41B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
StepStone Group Inc. (STEP) reported revenue of 2.01B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 1.20B | 1.15B | 799.29M | 610.48M | 506.84M | 391.85M |
| Other Revenue | 803.80M | 847.00M | 375.54M | 101.15M | -574.42M | 973.67M |
| Revenue | 2.01B | 1.99B | 1.17B | 711.63M | -67.57M | 1.37B |
| Cost of Revenue | 2.98B | 2.83B | 1.26B | 372.54M | -214.24M | 802.70M |
| Gross Profit | -971.34M | -836.11M | -89.47M | 339.09M | 146.66M | 562.83M |
| Selling, General & Admin | 197.71M | 187.05M | 161.25M | 148.22M | 136.30M | 87.07M |
| Operating Expenses | 197.71M | 187.05M | 161.25M | 148.22M | 136.30M | 87.07M |
| Operating Income | -1.17B | -1.02B | -250.72M | 190.87M | 10.36M | 475.76M |
| Interest Expense | -18.31M | -18.50M | -12.70M | -9.33M | -4.19M | -1.11M |
| Interest & Investment Income | 130.33M | 150.00M | 91.32M | 39.59M | 11.24M | 59.08M |
| Currency Exchange Gain (Loss) | 4.80M | 4.80M | -400.00K | -1.40M | -1.60M | -1.10M |
| Other Non Operating Income (Expenses) | -13.50M | -4.10M | -32.25M | 4.67M | 180.00K | 3.35M |
| EBT Excluding Unusual Items | -1.07B | -890.97M | -204.75M | 224.40M | 15.99M | 535.98M |
| Merger & Restructuring Charges | -13.80M | |||||
| Gain (Loss) on Sale of Investments | -5.25M | -1.19M | -9.09M | -46.58M | ||
| Gain (Loss) on Sale of Assets | -812.00K | |||||
| Asset Writedown | -1.90M | -1.50M | ||||
| Other Unusual Items | -100.00K | -200.00K | -16.10M | -17.20M | -9.36M | -9.60M |
| Pretax Income | -1.07B | -891.17M | -222.03M | 195.40M | -41.45M | 512.58M |
| Income Tax Expense | -169.44M | -147.89M | -49.21M | 27.58M | 3.82M | 28.30M |
| Earnings From Continuing Operations | -901.63M | -743.28M | -172.83M | 167.82M | -45.27M | 484.28M |
| Minority Interest in Earnings | 288.43M | 207.47M | -6.74M | -109.73M | 26.88M | -290.40M |
| Net Income | -613.20M | -535.81M | -179.56M | 58.09M | -18.40M | 193.88M |
| Net Income to Common | -613.20M | -535.81M | -179.56M | 58.09M | -18.40M | 193.88M |
| Shares Outstanding (Basic) | 80.08M | 79.04M | 71.14M | 63.49M | 61.88M | 49.83M |
| Shares Outstanding (Diluted) | 80.08M | 79.04M | 71.14M | 66.54M | 61.88M | 53.60M |
| EPS (Basic) | -7.66 | -6.78 | -2.52 | 0.91 | -0.30 | 3.89 |
| EPS (Diluted) | -7.66 | -6.78 | -2.52 | 0.91 | -0.30 | 3.84 |
| Free Cash Flow | -439.39M | 63.86M | 59.83M | 141.91M | 145.56M | 212.18M |
| Free Cash Flow Per Share | -5.49 | 0.81 | 0.84 | 2.13 | 2.35 | 3.96 |
| Dividend Per Share | 1.12 | 1.08 | 0.93 | 0.83 | 0.80 | 0.44 |
| Gross Margin | -48.37% | -41.94% | -7.61% | 47.65% | 41.22% | |
| Operating Margin | -58.21% | -51.32% | -21.34% | 26.82% | 34.84% | |
| Profit Margin | -30.54% | -26.88% | -15.28% | 8.16% | 14.20% | |
| Free Cash Flow Margin | -21.88% | 3.20% | 5.09% | 19.94% | 15.54% | |
| EBITDA | -1.12B | -977.44M | -205.23M | 236.56M | 56.31M | 502.74M |
| EBITDA Margin | -55.94% | -49.03% | -17.47% | 33.24% | 36.82% | |
| D&A For EBITDA | 45.68M | 45.73M | 45.49M | 45.69M | 45.94M | 26.98M |
| EBIT | -1.17B | -1.02B | -250.72M | 190.87M | 10.36M | 475.76M |
| EBIT Margin | -58.21% | -51.32% | -21.34% | 26.82% | 34.84% | |
| Effective Tax Rate | 14.11% | 5.52% | ||||
| Revenue as Reported | 2.01B | 1.99B | 1.17B | 711.63M | -67.57M | 1.37B |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 702.52M | 1.12B | 289.30M | 181.59M | 128.56M | 116.39M |
| Cash & Short-Term Investments | 702.52M | 1.12B | 289.30M | 181.59M | 128.56M | 116.39M |
| Accounts Receivable | 2.29B | 2.23B | 1.64B | 1.45B | 1.31B | 1.53B |
| Other Receivables | 39.70M | 39.56M | 12.92M | 13.45M | 7.02M | 342.00K |
| Receivables | 2.34B | 2.28B | 1.67B | 1.48B | 1.33B | 1.53B |
| Restricted Cash | 581.00K | 579.00K | 502.00K | 718.00K | 955.00K | 1.06M |
| Total Current Assets | 3.05B | 3.40B | 1.96B | 1.66B | 1.46B | 1.65B |
| Property, Plant & Equipment | 95.22M | 107.87M | 121.64M | 127.32M | 116.97M | 73.83M |
| Long-Term Investments | 3.08B | 1.72B | 1.23B | 898.10M | 916.43M | 1.44B |
| Goodwill | 580.54M | 580.54M | 580.54M | 580.54M | 580.54M | 580.54M |
| Other Intangible Assets | 212.85M | 223.04M | 263.87M | 304.87M | 354.64M | 398.13M |
| Long-Term Deferred Tax Assets | 663.33M | 614.79M | 382.89M | 184.51M | 44.36M | 27.87M |
| Other Long-Term Assets | 85.27M | 116.57M | 50.76M | 32.80M | 28.99M | 14.66M |
| Total Assets | 7.77B | 6.76B | 4.59B | 3.79B | 3.50B | 4.19B |
| Accounts Payable | 39.41M | 57.27M | 40.21M | 22.31M | 12.60M | 31.99M |
| Accrued Expenses | 4.48B | 4.08B | 1.99B | 1.31B | 1.33B | 1.95B |
| Current Portion of Leases | 12.67M | 16.00M | ||||
| Other Current Liabilities | 53.68M | 1.32M | 1.95M | |||
| Total Current Liabilities | 4.77B | 4.15B | 2.03B | 1.38B | 1.34B | 1.98B |
| Long-Term Debt | 1.22B | 1.20B | 269.27M | 148.82M | 98.35M | 62.88M |
| Long-Term Leases | 103.80M | 87.60M | 113.52M | 119.74M | 121.22M | 70.97M |
| Long-Term Unearned Revenue | 45.50M | 44.90M | 49.10M | 51.50M | 39.70M | 19.00M |
| Long-Term Deferred Tax Liabilities | 517.00K | 420.00K | 158.00K | 353.00K | 1.53M | |
| Other Long-Term Liabilities | 392.68M | 388.07M | 349.40M | 214.33M | 241.41M | 225.43M |
| Total Liabilities | 6.53B | 5.88B | 2.81B | 1.92B | 1.84B | 2.36B |
| Common Stock | 120.00K | 120.00K | 117.00K | 111.00K | 109.00K | 109.00K |
| Additional Paid-In Capital | 541.82M | 482.06M | 421.06M | 310.29M | 610.57M | 587.24M |
| Retained Earnings | -1.08B | -896.88M | -242.55M | 13.77M | 160.43M | 229.62M |
| Comprehensive Income & Other | 1.38M | 1.14M | 728.00K | 304.00K | 461.00K | 658.00K |
| Total Common Equity | -539.20M | -413.56M | 179.36M | 324.48M | 771.57M | 817.62M |
| Minority Interest | 1.78B | 1.30B | 1.60B | 1.55B | 881.75M | 1.01B |
| Shareholders' Equity | 1.24B | 886.03M | 1.77B | 1.87B | 1.65B | 1.82B |
| Total Liabilities & Equity | 7.77B | 6.76B | 4.59B | 3.79B | 3.50B | 4.19B |
| Total Debt | 1.57B | 1.31B | 382.79M | 268.56M | 219.57M | 133.84M |
| Net Cash (Debt) | -865.49M | -186.94M | -93.48M | -86.97M | -91.01M | -17.46M |
| Net Cash Per Share | -10.81 | -2.37 | -1.31 | -1.31 | -1.47 | -0.33 |
| Filing Date Shares Outstanding | 82.29M | 80.71M | 76.76M | 65.61M | 62.83M | 61.14M |
| Total Common Shares Outstanding | 82.34M | 80.70M | 76.76M | 65.61M | 62.83M | 61.14M |
| Working Capital | -1.72B | -751.50M | -71.55M | 279.54M | 112.42M | -332.52M |
| Book Value Per Share | -6.55 | -5.12 | 2.34 | 4.95 | 12.28 | 13.37 |
| Tangible Book Value | -1.33B | -1.22B | -665.06M | -560.94M | -163.62M | -161.04M |
| Tangible Book Value Per Share | -16.18 | -15.08 | -8.66 | -8.55 | -2.60 | -2.63 |
| Machinery | 14.10M | 12.97M | 11.69M | 11.47M | 9.73M | |
| Leasehold Improvements | 30.57M | 30.29M | 27.57M | 17.25M | 12.31M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -613.20M | -535.81M | -179.56M | 58.09M | -18.40M | 193.88M |
| Depreciation & Amortization | 45.68M | 45.73M | 45.49M | 45.69M | 45.94M | 26.98M |
| Other Amortization | 1.30M | 1.30M | 847.00K | 472.00K | 472.00K | 236.00K |
| Loss (Gain) From Sale of Assets | 812.00K | |||||
| Asset Writedown & Restructuring Costs | 1.90M | 1.50M | ||||
| Stock-Based Compensation | 1.73B | 1.62B | 650.13M | 39.45M | 24.94M | 14.00M |
| Other Operating Activities | -1.66B | -1.06B | -432.17M | -3.77M | 129.49M | -12.19M |
| Change in Accounts Receivable | -31.19M | -64.40M | -24.10M | -12.35M | -10.31M | -1.77M |
| Change in Accounts Payable | 14.34M | 16.52M | 13.15M | 16.65M | -1.22M | 6.66M |
| Change in Other Net Operating Assets | 80.06M | 47.18M | -8.86M | 14.59M | -21.24M | -13.52M |
| Operating Cash Flow | -437.31M | 66.48M | 64.93M | 161.52M | 151.18M | 214.28M |
| Capital Expenditures | -2.07M | -2.62M | -5.10M | -19.61M | -5.63M | -2.10M |
| Cash Acquisitions | 839.63M | 812.05M | -181.53M | |||
| Divestitures | -36.99M | -36.99M | ||||
| Investment in Securities | -48.80M | -54.96M | -54.18M | -32.15M | -30.46M | -36.15M |
| Other Investing Activities | 14.31M | 15.40M | 15.81M | 4.41M | 5.28M | 9.54M |
| Investing Cash Flow | 766.08M | 732.88M | -43.48M | -47.35M | -30.81M | -210.24M |
| Long-Term Debt Issued | 92.50M | 307.87M | 50.00M | 35.00M | 185.00M | |
| Long-Term Debt Repaid | -92.50M | -182.91M | -120.00M | |||
| Net Debt Issued (Repaid) | 247.17M | 124.96M | 50.00M | 35.00M | 65.00M | |
| Issuance of Common Stock | 3.68M | 3.68M | 2.52M | |||
| Repurchase of Common Stock | -28.34M | -9.12M | -1.47M | -695.00K | -2.74M | |
| Common Dividends Paid | -90.23M | -85.94M | -65.31M | -52.62M | -49.97M | -23.87M |
| Other Financing Activities | 42.34M | 160.64M | 37.31M | -38.81M | -90.31M | -111.56M |
| Financing Cash Flow | 128.74M | 37.44M | 87.48M | -57.98M | -108.02M | -70.44M |
| Foreign Exchange Rate Adjustments | 941.00K | -7.60M | -1.44M | -3.40M | -287.00K | -15.00K |
| Net Cash Flow | 458.45M | 829.20M | 107.49M | 52.80M | 12.07M | -66.41M |
| Free Cash Flow | -439.39M | 63.86M | 59.83M | 141.91M | 145.56M | 212.18M |
| Free Cash Flow Margin | -21.88% | 3.20% | 5.09% | 19.94% | 15.54% | |
| Free Cash Flow Per Share | -5.49 | 0.81 | 0.84 | 2.13 | 2.35 | 3.96 |
| Levered Free Cash Flow | 2.82B | 2.63B | 1.00B | 68.28M | -363.18M | 1.19B |
| Unlevered Free Cash Flow | 2.83B | 2.64B | 1.01B | 73.64M | -361.03M | 1.19B |
| Cash Interest Paid | 16.08M | 16.08M | 7.24M | 8.46M | 3.55M | 829.00K |
| Cash Income Tax Paid | 42.32M | 42.32M | 14.14M | 14.29M | 29.49M | 11.69M |
| Change in Working Capital | 63.22M | -706.00K | -19.81M | 18.89M | -32.76M | -8.63M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.45B | 3.82B | 3.96B | 2.30B | 1.53B | 2.01B |
| Enterprise Value | 6.32B | 4.72B | 5.50B | 3.27B | 2.45B | 3.05B |
| Last Close Price | 43.22 | 46.52 | 49.59 | 33.25 | 21.70 | 28.72 |
| PE Ratio | 39.51 | 10.37 | ||||
| Forward PE | 17.15 | 19.61 | 26.44 | 24.54 | 18.24 | 22.48 |
| PS Ratio | 2.74 | 1.92 | 3.37 | 3.23 | -22.57 | 1.47 |
| PB Ratio | 4.44 | 4.32 | 2.23 | 1.23 | 0.92 | 1.10 |
| P/FCF Ratio | 59.89 | 66.22 | 16.17 | 10.48 | 9.47 | |
| P/OCF Ratio | 57.53 | 61.02 | 14.21 | 10.09 | 9.38 | |
| PEG Ratio | 2.17 | 2.17 | 2.17 | 2.17 | ||
| EV/Sales Ratio | 3.17 | 2.37 | 4.68 | 4.59 | 2.23 | |
| EV/EBITDA Ratio | 13.81 | 43.53 | 6.07 | |||
| EV/EBIT Ratio | 17.12 | 236.49 | 6.42 | |||
| EV/FCF Ratio | 73.94 | 91.89 | 23.03 | 16.84 | 14.39 | |
| Debt / Equity Ratio | 1.26 | 1.47 | 0.22 | 0.14 | 0.13 | 0.07 |
| Debt / EBITDA Ratio | 1.07 | 3.28 | 0.26 | |||
| Debt / FCF Ratio | 20.44 | 6.40 | 1.89 | 1.51 | 0.63 | |
| Net Debt / Equity Ratio | 0.70 | 0.21 | 0.05 | 0.05 | 0.06 | 0.01 |
| Net Debt / EBITDA Ratio | -0.77 | -0.19 | -0.46 | 0.37 | 1.62 | 0.04 |
| Net Debt / FCF Ratio | -1.97 | 2.93 | 1.56 | 0.61 | 0.62 | 0.08 |
| Asset Turnover | 0.32 | 0.35 | 0.28 | 0.20 | 0.50 | |
| Quick Ratio | 0.64 | 0.81 | 0.96 | 1.19 | 1.07 | 0.83 |
| Current Ratio | 0.64 | 0.82 | 0.96 | 1.20 | 1.08 | 0.83 |
| Return on Equity (ROE) | -61.40% | -55.88% | -9.48% | 9.52% | -2.60% | 38.99% |
| Return on Assets (ROA) | -11.64% | -11.27% | -3.74% | 3.28% | 0.17% | 10.79% |
| Return on Invested Capital (ROIC) | -73.57% | -69.58% | -13.10% | 8.85% | 0.58% | 38.72% |
| Return on Capital Employed (ROCE) | -39.00% | -39.20% | -9.80% | 7.90% | 0.50% | 21.60% |
| Earnings Yield | -17.08% | -14.01% | -4.53% | 2.53% | -1.21% | 9.65% |
| FCF Yield | -7.98% | 1.67% | 1.51% | 6.18% | 9.54% | 10.56% |
| Dividend Yield | 4.18% | 2.28% | 1.80% | 2.37% | 3.30% | 1.34% |
| Payout Ratio | 90.59% | 12.31% | ||||
| Buyback Yield / Dilution | -8.13% | -11.10% | -6.91% | -7.53% | -15.46% | -61.08% |
| Total Shareholder Return | -4.00% | -8.82% | -5.11% | -5.16% | -12.16% | -59.75% |