StepStone Group Inc. (STEP) Financial Ratios
9 years of historical data (2018–2026) · Financial Services · Asset Management
EV/EBITDA
↑
N/A
—
5yr avg: 16.30
30Y Low3.0·High33.9
P/FCF
↑
88.52
↑+181% vs avg
5yr avg: 31.51
30Y Low7.9·High62.1
P/B Ratio
↑
4.10
↑+114% vs avg
5yr avg: 1.91
30Y Low0.9·High4.3
ROE
↓
-39.2%
↑-528% vs avg
5yr avg: -6.2%
30Y Low-39%·High16%
Debt/EBITDA
↑
N/A
—
5yr avg: 2.06
30Y Low0.1·High4.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
STEP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
StepStone Group Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 88.5x P/FCF, 181% above the 5-year average of 31.5x.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.7B | $3.8B | $3.7B | $2.4B | $1.5B | $1.8B | $1.2B | — | — | — |
| Enterprise Value | $5.8B | $4.0B | $3.8B | $2.5B | $1.6B | $1.8B | $994M | — | — | — |
| P/E Ratio → | -6.75 | — | — | 39.27 | — | 8.61 | 17.12 | — | — | — |
| P/S Ratio | 2.84 | 1.92 | 3.16 | 3.34 | — | 1.30 | 1.49 | — | — | — |
| P/B Ratio | 4.10 | 4.32 | 2.09 | 1.27 | 0.91 | 0.97 | 1.78 | — | — | — |
| P/FCF | 88.52 | 60.00 | 62.11 | 16.76 | 10.32 | 8.35 | 7.93 | — | — | — |
| P/OCF | 85.03 | 57.64 | 57.23 | 14.72 | 9.93 | 8.27 | 7.86 | — | — | — |
P/E links to full P/E history page with 30-year chart
STEP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.02 | 3.24 | 3.46 | — | 1.31 | 1.26 | — | — | — |
| EV / EBITDA | — | — | — | 11.24 | 33.93 | 3.73 | 2.98 | — | — | — |
| EV / EBIT | — | — | — | 12.04 | — | 3.48 | 2.88 | — | — | — |
| EV / FCF | — | 62.92 | 63.67 | 17.37 | 10.94 | 8.43 | 6.71 | — | — | — |
STEP Profitability
Margins and return-on-capital ratios measuring operating efficiency
StepStone Group Inc. earns an operating margin of -51.3%, below the Financial Services sector average of 20.3%. Operating margins have compressed from 24.1% to -51.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -39.2% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 51.0% | 51.0% | -7.6% | 53.6% | -253.9% | 42.2% | 48.8% | 46.2% | 45.4% | 44.5% |
| Operating Margin | -51.3% | -51.3% | -21.3% | 24.1% | 0.7% | 33.1% | 41.7% | 34.0% | 25.9% | 30.9% |
| Net Profit Margin | -26.2% | -26.2% | -15.3% | 8.2% | 27.2% | 14.2% | 8.0% | — | — | 30.8% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -39.2% | -39.2% | -9.8% | 3.3% | -1.1% | 15.6% | 14.0% | — | — | 16.2% |
| ROA | -9.2% | -9.2% | -4.3% | 1.6% | -0.5% | 7.0% | 6.3% | — | — | 17.5% |
| ROIC | -35.3% | -35.3% | -8.7% | 6.4% | -0.0% | 25.9% | 47.3% | 33.2% | 12.2% | 11.9% |
| ROCE | -21.8% | -21.8% | -10.6% | 8.7% | -0.0% | 34.3% | 59.8% | 42.9% | 22.3% | 28.1% |
STEP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $186M ($1.3B total debt minus $1.1B cash).
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.47 | 1.47 | 0.22 | 0.14 | 0.13 | 0.07 | — | 0.60 | 1.10 | 0.02 |
| Debt / EBITDA | — | — | — | 1.22 | 4.68 | 0.28 | — | 0.90 | 2.16 | 0.11 |
| Net Debt / Equity | — | 0.21 | 0.05 | 0.05 | 0.06 | 0.01 | -0.27 | 0.22 | 0.83 | -0.19 |
| Net Debt / EBITDA | — | — | — | 0.40 | 1.94 | 0.04 | -0.54 | 0.33 | 1.62 | -1.12 |
| Debt / FCF | — | 2.92 | 1.56 | 0.61 | 0.63 | 0.08 | -1.22 | 0.82 | 2.48 | -1.92 |
| Interest Coverage | -49.61 | -49.61 | -19.74 | 21.94 | -8.90 | 461.54 | 46.90 | 15.57 | 7.00 | 94.98 |
STEP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
StepStone Group Inc.'s current ratio of 85.33x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 0.98x to 85.33x over the past 3 years.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 85.33 | 85.33 | 1.01 | 0.98 | 0.88 | 0.74 | 1.79 | 2.11 | 1.96 | 2.28 |
| Quick Ratio | 85.33 | 85.33 | 1.01 | 0.98 | 0.88 | 0.74 | 1.79 | 2.11 | 1.96 | 2.28 |
| Cash Ratio | 69.93 | 69.93 | 0.15 | 0.11 | 0.08 | 0.05 | 0.29 | 0.32 | 0.22 | 0.61 |
| Asset Turnover | — | 0.29 | 0.26 | 0.19 | -0.02 | 0.33 | 0.60 | 0.66 | 0.52 | 0.57 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — |
STEP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
StepStone Group Inc. returns 3.4% to shareholders annually — split between a 3.2% dividend yield and 0.2% buyback yield.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.2% | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | 117.9% | — | 12.3% | 3.3% | — | — | 108.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 2.5% | — | 11.6% | 5.8% | — | — | — |
| FCF Yield | 1.1% | 1.7% | 1.6% | 6.0% | 9.7% | 12.0% | 12.6% | — | — | — |
| Buyback Yield | 0.2% | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 3.4% | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $80M | $71M | $67M | $62M | $54M | $33M | $27M | $29M | $29M |
Peer Comparison
Compare STEP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 STEPYou | $6B | -6.7 | — | 88.5 | 51.0% | -51.3% | -39.2% | -35.3% | — |
 HLI | $10B | 24.2 | 17.1 | 12.1 | 38.5% | 21.0% | 19.9% | 15.5% | 0.8 |
 HLNE | $5B | 13.9 | 13.6 | 10.0 | 69.9% | 42.8% | 20.8% | 15.6% | 1.1 |
 GCMG | $2B | 28.7 | 16.2 | 12.9 | 100.0% | 26.5% | 244.6% | 22.4% | 3.1 |
 ARES | $42B | 66.0 | 27.9 | 27.5 | 74.8% | 27.2% | 6.8% | 6.1% | 7.4 |
 BX | $97B | 31.9 | 14.9 | 55.6 | 86.0% | 51.9% | 14.6% | 16.1% | 1.8 |
 KKR | $86B | 41.5 | 19.8 | 9.1 | 41.8% | 2.4% | 3.3% | 0.3% | 7.7 |
 APO | $79B | 18.9 | 6.4 | 10.6 | 88.5% | 34.4% | 12.2% | 16.0% | 1.2 |
 CG | $16B | 20.6 | 20.1 | 11.9 | 65.9% | 26.2% | 12.1% | 5.2% | 10.4 |
 TPG | $16B | 34.8 | 20.7 | 16.1 | 96.9% | 14.7% | 4.8% | 9.3% | 2.1 |
 BAM | $78B | 30.6 | 27.6 | — | 93.2% | 57.6% | 37.3% | 24.3% | 1.3 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
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STEP — Frequently Asked Questions
Quick answers to the most common questions about buying STEP stock.
What is StepStone Group Inc.'s P/E ratio?
StepStone Group Inc.'s current P/E ratio is -6.7x. The historical average is 21.7x.
What is StepStone Group Inc.'s ROE?
StepStone Group Inc.'s return on equity (ROE) is -39.2%. The historical average is -0.1%.
Is STEP stock overvalued?
Based on historical data, StepStone Group Inc. is trading at a P/E of -6.7x. Compare with industry peers and growth rates for a complete picture.
What is StepStone Group Inc.'s dividend yield?
StepStone Group Inc.'s current dividend yield is 3.24%.
What are StepStone Group Inc.'s profit margins?
StepStone Group Inc. has 51.0% gross margin and -51.3% operating margin.