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STEPStepStone Group Inc.
$46.57$5.8B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
STEP logo

StepStone Group Inc.

STEP
NASDAQ · Asset Management
$46.57
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$6.01B
P/E-7.0x
52W High$77.80
Volume744.38K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2027Q1

Fee-Driven Revenue Surge Masks Negative Equity Risk

StepStone's revenue surged 69.7% year-over-year to $378.9M in 2027Q1, driven almost entirely by non-interest income (96.5% of total revenue), yet GAAP net income remains deeply negative at -$115.8M, reflecting cumulative losses of $1.1B over the past year. The...

GrowthAccelerating
ProfitabilityWeak
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

STEP price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

7/12 Beats

EPS beat 7 of last 12 quarters

02

Valuation risk

-135% Peers

P/E is 135% below peer median

03

Market leadership

RS 38 · Lag

Laggard (Underperforming 62% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 6

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
STEP-27.92%
S&P 500 (^GSPC)+13.20%
1-Year Return
STEP-27.82%
S&P 500 (^GSPC)+15.98%
3-Year Return
STEP+64.06%
S&P 500 (^GSPC)+77.94%
5-Year Return
STEP+17.23%
S&P 500 (^GSPC)+72.98%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-6.7x
Forward P/E
21.5x
EV/EBITDA
N/A
FCF YieldCash Flow
1.1%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-6.7x
39.3x
0th· Low
EV/EBITDA
N/A
11.2x
N/A
Price/FCF
91.0x
16.8x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$8.37-82.0%
Base (Fair)$23.00-50.3%
Bull$11.19-76.0%
$8.37 Bear$23.00 Base$11.19 Bull
Current Market Price: $46.57
Trades at a 102.5% premium to Base DCF ($23.00)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$1.98B+70.0% YoY
Net income
-$521M-190.3% YoY
Free cash flow
$64M+6.7% YoY
Operating margin
-51.3%-30.0 pts YoY
ROIC (TTM)-35.3%
Avg ROIC 5Y-
ROE (TTM)-39.2%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate7/12 (58%)
Revenue Beat Rate9/12 (75%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$0.48-4.8%
vs $0.50
$301M-2.8%
vs $309M
Q2 2026
May 20, 2026
$0.57+9.2%
vs $0.52
$306M+4.7%
vs $292M
Q1 2026
Feb 5, 2026
$0.65+8.3%
vs $0.60
$495M+25.2%
vs $395M
Q4 2025
Nov 6, 2025
$0.54+11.3%
vs $0.49
$282M+3.7%
vs $272M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·Sep 14, 2026
StepStone Group Inc. (STEP) Presents at Barclays 24th Annual Global Financial Services Conference Transcript

StepStone Group Inc. (STEP) Presents at Barclays 24th Annual Global Financial Services Conference Transcript

GuruFocus·Sep 14, 2026
Amulet Capital Partners Closes Continuation Vehicle to Support Continued Growth of US Fertility Led by StepStone

Amulet Capital Partners (“Amulet”), a middle-market private equity investment firm focused exclusively on the healthcare sector, today announced the closing

Business Wire·Sep 14, 2026
Amulet Capital Partners Closes Continuation Vehicle to Support Continued Growth of US Fertility Led by StepStone

GREENWICH, Conn.--(BUSINESS WIRE)--Amulet Capital Partners (“Amulet”), a middle-market private equity investment firm focused exclusively on the healthcare sector, today announced the closing of a recapitalization of US Fertility, the nation's leading fertility services platform, through a new continuation vehicle. StepStone Group (“StepStone”) acted as the sole lead investor, supported by other existing and new investors. Financial terms of the transaction were not disclosed. The transaction m.

GlobeNewsWire·Aug 31, 2026
StepStone Group to Present at the Barclays Global Financial Services Conference

NEW YORK, Aug. 31, 2026 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP) today announced that Mike McCabe, Head of Strategy, and Jason Ment, President and Co-Chief Operating Officer, are scheduled to present at the Barclays Global Financial Services Conference on Monday, September 14, 2026, at 9:00 am ET. A live webcast and replay will be accessible through the StepStone website at  https://shareholders.stepstonegroup.com .

Filtered for StepStone Group Inc.More Headlines
04

Compare before deciding

Benchmark STEP against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for StepStone Group Inc. (STEP)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
STEP logoSTEPStepStone Group Inc.Current
$46.57$6.01B-6.9569.96%-26.15%-39.19%3.15%
HLI logoHLIHoulihan Lokey, Inc.
$130.97$9.15B21.069.55%16.1%17.36%—
HLNE logoHLNEHamilton Lane Incorporated
$87.60$4.86B14.806.35%32.7%19.56%—
GCMG logoGCMGGCM Grosvenor Inc.
$13.23$2.47B31.509.17%7.88%47.35%—
ARES logoARESAres Management Corporation
$124.72$40.96B63.6396.21%9.97%7.43%—
BX logoBXBlackstone Inc.
$124.01$97.69B31.9621.87%22.69%16.16%—

Compare STEP vs Peers

StepStone Group Inc. (STEP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs HLI

Most directly comparable listed peer for STEP.

Scale Benchmark

vs BK

Larger-name benchmark to compare STEP against a more recognizable public peer.

Peer Set

Compare Top 5

vs HLI, HLNE, GCMG, ARES

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

STEP SEC Filings & Documents

StepStone Group Inc. (STEP) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

Jun 1, 2026·SEC

Material company update

May 20, 2026·SEC

10-K Annual Reports

3
FY 2026

May 27, 2026·SEC

FY 2025

May 23, 2025·SEC

FY 2024

May 24, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 7, 2026·SEC

FY 2026

Feb 5, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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STEP Frequently Asked Questions

StepStone Group Inc. (STEP) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is StepStone Group Inc. growing?

StepStone Group Inc. (STEP) grew revenue by 70.0% over the past year. This is strong growth.

Is STEP profitable?

StepStone Group Inc. (STEP) reported a net loss of $613.2M for fiscal year 2026.

Dividend & Returns
Does STEP pay dividends?

Yes, StepStone Group Inc. (STEP) pays a dividend with a yield of 3.15%. This makes it attractive for income-focused investors.

What is STEP's return on equity?

StepStone Group Inc. (STEP) has a return on equity (ROE) of -39.2%. Negative ROE indicates the company is unprofitable.

Industry Metrics
What is StepStone Group Inc.'s net interest margin?

StepStone Group Inc. (STEP) has a net interest margin (NIM) of -0.1%. NIM has been under pressure due to interest rate environment.

What is StepStone Group Inc.'s efficiency ratio?

StepStone Group Inc. (STEP) has an efficiency ratio of 102.3%. This is higher than peers, suggesting room for cost optimization.

What if you invested $1,000 in STEP back in 2018?

Total return calculator · dividends reinvested · 8+ years of data

See returns →