STEP · Stepstone Group Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $364.29M | $586.51M | $454.23M | $186.40M | $339.02M | $271.68M | $178.01M | ($14.61M) | $191.42M | ($77.22M) |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $42.91M | $50.64M | $45.29M | $41.01M | $43.13M | $50.06M | $33.28M | $48.00M | $31.73M | $34.23M |
| Total Operating Expenses | $423.32M | $807.76M | $1.18B | $139.25M | $698.11M | $220.70M | $121.20M | $19.15M | $130.32M | ($68.42M) |
| D&A | $11.42M | - | - | $11.34M | - | - | $11.99M | - | - | $11.52M |
| Operating Income | ($20.35M) | ($194.65M) | ($675.83M) | $54.84M | ($344.71M) | $57.89M | $58.04M | ($24.14M) | $66.98M | ($20.18M) |
| Interest Expense | $4.53M | $5.12M | $4.42M | $2.01M | $2.56M | $2.11M | $2.01M | $2.56M | $2.11M | $587.0K |
| Income Tax | ($8.34M) | ($32.21M) | ($100.34M) | $6.80M | ($57.55M) | $4.75M | $8.60M | ($723.0K) | $7.73M | $1.29M |
| Net Income | ($38.42M) | ($123.45M) | ($366.14M) | $13.33M | ($192.01M) | $17.63M | $21.27M | ($20.23M) | $26.23M | ($11.04M) |
| EPS - Basic | ($0.49) | ($1.55) | ($4.66) | $0.20 | ($2.61) | $0.26 | $0.34 | ($0.32) | $0.42 | ($0.18) |
| EPS - Diluted | ($0.49) | ($1.55) | ($4.66) | $0.20 | ($2.61) | $0.26 | $0.34 | ($0.32) | $0.42 | ($0.18) |
Balance Sheet
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.12B | $378.02M | $366.71M | $289.80M | $279.50M | $225.38M | $182.31M | $174.31M | $176.80M | $106.35M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $6.76B | $5.24B | $5.33B | $4.59B | $4.35B | $4.04B | $3.79B | $3.47B | $3.61B | $3.50B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | $269.59M | $270.25M | $269.92M | $269.27M | $168.94M | $172.26M | $148.82M | $123.70M | $123.59M | $98.35M |
| Total Liabilities | $5.88B | $4.72B | $4.11B | $2.81B | $2.61B | $2.04B | $1.92B | $1.80B | $1.91B | $1.84B |
| Stockholders' Equity | ($413.56M) | ($378.79M) | ($233.46M) | $179.36M | $209.84M | $397.46M | $324.48M | $761.84M | $794.66M | $771.57M |
| Retained Earnings | ($896.88M) | ($866.33M) | ($720.43M) | ($242.55M) | ($205.67M) | $3.99M | $13.77M | $131.34M | $165.24M | $160.43M |
Cash Flow
| Line item | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $46.28M | - | - | $50.17M | - | - | $57.59M | - | - | $57.48M |
| Investing Cash Flow | ($11.79M) | - | - | ($13.21M) | - | - | ($14.49M) | - | - | ($7.60M) |
| Financing Cash Flow | ($72.22M) | - | - | ($22.90M) | - | - | ($43.97M) | - | - | ($60.72M) |
| CapEx | $1.09M | - | - | $575.0K | - | - | $7.76M | - | - | $348.0K |
| Free Cash Flow | $45.19M | - | - | $49.59M | - | - | $49.83M | - | - | $57.13M |
Ratios
| Metric | Q1 '26 | Q3 '26 | Q2 '26 | Q1 '25 | Q3 '25 | Q2 '25 | Q1 '24 | Q3 '24 | Q2 '24 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -5.6% | -33.2% | -148.8% | 29.4% | -101.7% | 21.3% | 32.6% | 165.2% | 35.0% | 26.1% |
| EBITDA margin | -2.5% | - | - | 35.5% | - | - | 39.3% | - | - | 11.2% |
| Net margin | -10.5% | -21.0% | -80.6% | 7.2% | -56.6% | 6.5% | 11.9% | 138.4% | 13.7% | 14.3% |
| Free cash flow margin | 12.4% | - | - | 26.6% | - | - | 28.0% | - | - | -74.0% |
| FCF / Net income | -1.18 | - | - | 3.72 | - | - | 2.34 | - | - | -5.18 |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 11.8% | 8.6% | 10.0% | 22.0% | 12.7% | 18.4% | 18.7% | -328.5% | 16.6% | -44.3% |
| Effective tax rate | - | - | - | 33.8% | - | 21.2% | 28.8% | - | 22.8% | - |
| Return on assets | -0.6% | -2.4% | -6.9% | 0.3% | -4.4% | 0.4% | 0.6% | -0.6% | 0.7% | -0.3% |
| Return on equity | 9.3% | 32.6% | 156.8% | 7.4% | -91.5% | 4.4% | 6.6% | -2.7% | 3.3% | -1.4% |
| Return on invested capital | - | - | -1464.3% | 8.1% | -71.9% | 8.0% | 8.7% | -2.2% | 5.6% | -1.8% |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | -0.65 | -0.71 | -1.16 | 1.50 | 0.81 | 0.43 | 0.46 | 0.16 | 0.16 | 0.13 |
| Debt / Assets | 0.04 | 0.05 | 0.05 | 0.06 | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 |
| Debt / EBITDA | - | - | - | 4.07 | - | - | 2.13 | - | - | - |
| Interest coverage | -4.5x | -38.0x | -152.7x | 27.3x | -134.5x | 27.5x | 28.8x | -9.4x | 31.8x | -34.4x |
| Equity multiplier | -16.35 | -13.84 | -22.84 | 25.57 | 20.73 | 10.16 | 11.68 | 4.55 | 4.54 | 4.53 |
| Liabilities / Assets | 0.87 | 0.90 | 0.77 | 0.61 | 0.60 | 0.50 | 0.51 | 0.52 | 0.53 | 0.53 |
| Efficiency | ||||||||||
| Asset turnover | 0.05 | 0.11 | 0.09 | 0.04 | 0.08 | 0.07 | 0.05 | -0.00 | 0.05 | -0.02 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | 261.1x | - | 218.6x | 105.1x | - | 75.2x | - |
| P / B | - | - | - | 20.0x | 20.3x | 10.0x | 7.2x | 2.7x | 2.6x | 1.9x |
| P / S | 10.2x | 8.7x | 11.3x | 19.2x | 12.6x | 14.6x | 13.2x | - | 10.9x | - |
| EV / EBITDA | - | - | - | 53.8x | - | - | 33.1x | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 95.4% | 73.0% | 67.2% | 4.7% | -2420.2% | 41.9% | -330.5% | 245.0% | -220.8% | 25.7% |
| Revenue CAGR (3y) | - | - | - | - | -6.2% | -1.2% | - | - | 13.2% | - |
| Revenue CAGR (5y) | - | 18.9% | 28.1% | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | 43.5% | - | -5.5% | -1327.9% | -13.6% | - | -69.0% | - | - |
| Net income growth (YoY) | - | 35.7% | - | -37.3% | -849.3% | -32.8% | - | -191.5% | - | - |
| EPS growth (YoY) | - | 40.6% | - | -41.2% | -715.6% | -38.1% | - | -190.9% | - | - |
| EPS CAGR (3y) | - | - | - | -42.6% | - | -43.6% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -8.9% | - | - | -0.5% | - | - | -12.8% | - | - | 99.9% |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | - | - | -44.7% | -72.5% | -50.0% | -57.9% | 1.3% | 4.4% | -5.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-03-31.
Product / service
$2.69B totalManagement And Advisory Fees Net$767.01M · 28.5%
Management And Advisory Fees Net Focused Commingled Funds$440.13M · 16.4%
Performance Fees$407.82M · 15.2%
Carried Interest Allocation$301.20M · 11.2%
Management And Advisory Fees Net Separately Managed Accounts$252.71M · 9.4%
Carried Interest Allocation Realized$159.65M · 5.9%
Carried Interest Allocation Unrealized$141.55M · 5.3%
Legacy Carried Interest Allocation$74.34M · 2.8%
Management And Advisory Fees Net Advisory And Other Services$67.06M · 2.5%
Incentive Fees$32.27M · 1.2%
Incentive Fees Focused Commingled Funds$23.40M · 0.9%
Incentive Fees Separately Managed Accounts$8.88M · 0.3%
Income Based Incentive Fees$8.00M · 0.3%
Management And Advisory Fees Net Fund Reimbursement Revenues$7.11M · 0.3%
Geographic
$1.17B totalNon Us$653.59M · 55.6%
US$521.24M · 44.4%
Peer comparison
Same SIC group: Investment Advice
Comparing StepStone Group Inc. against the 5 most active filers in the same SIC group.
Dividends
$1.48/share trailing 12 months · +37.0% YoY
| Ex-date | Per share |
|---|---|
| Feb 27, 2026 | $0.2800 |
| Nov 28, 2025 | $0.2800 |
| Aug 29, 2025 | $0.2800 |
| Jun 13, 2025 | $0.6400 |
| Feb 28, 2025 | $0.2400 |
| Nov 29, 2024 | $0.2400 |
| Aug 30, 2024 | $0.2400 |
| Jun 14, 2024 | $0.3600 |
| Feb 28, 2024 | $0.2100 |
| Nov 29, 2023 | $0.2100 |
| Aug 30, 2023 | $0.2100 |
| Jun 14, 2023 | $0.4500 |
| Feb 27, 2023 | $0.2000 |
| Nov 29, 2022 | $0.2000 |
| Aug 30, 2022 | $0.2000 |
| Jun 14, 2022 | $0.2000 |
| Feb 25, 2022 | $0.1500 |
| Nov 29, 2021 | $0.1500 |
| Aug 30, 2021 | $0.0700 |
| Jun 29, 2021 | $0.0700 |
| Mar 18, 2021 | $0.0700 |