StepStone Group Inc. (STEP) Financial Ratios
8 years of historical data (2018–2025) · Financial Services · Asset Management
EV/EBITDA
↑
N/A
—
5yr avg: 12.97
30Y Low3.0·High33.9
P/FCF
↑
35.34
↑+68% vs avg
5yr avg: 21.09
30Y Low7.9·High62.1
P/B Ratio
↑
2.17
↑+55% vs avg
5yr avg: 1.40
30Y Low0.9·High2.1
ROE
↓
-9.8%
↑-324% vs avg
5yr avg: 4.4%
30Y Low-10%·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 35.3x P/FCF, 68% above the 5-year average of 21.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.1B | $3.7B | $2.4B | $1.5B | $1.8B | $1.2B | — | — | — |
| Enterprise Value | $2.2B | $3.8B | $2.5B | $1.6B | $1.8B | $994M | — | — | — |
| P/E Ratio → | -21.50 | — | 39.27 | — | 8.61 | 17.12 | — | — | — |
| P/S Ratio | 1.80 | 3.16 | 3.34 | — | 1.30 | 1.49 | — | — | — |
| P/B Ratio | 2.17 | 2.09 | 1.27 | 0.91 | 0.97 | 1.78 | — | — | — |
| P/FCF | 35.34 | 62.11 | 16.76 | 10.32 | 8.35 | 7.93 | — | — | — |
| P/OCF | 32.56 | 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 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 | — | 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 -21.3%, below the Financial Services sector average of 21.6%. Operating margins have compressed from 0.7% to -21.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -9.8% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -7.6% | -7.6% | 53.6% | -253.9% | 42.2% | 48.8% | 46.2% | 45.4% | 44.5% |
| Operating Margin | -21.3% | -21.3% | 24.1% | 0.7% | 33.1% | 41.7% | 34.0% | 25.9% | 30.9% |
| Net Profit Margin | -15.3% | -15.3% | 8.2% | 27.2% | 14.2% | 8.0% | — | — | 30.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -9.8% | -9.8% | 3.3% | -1.1% | 15.6% | 14.0% | — | — | 16.2% |
| ROA | -4.3% | -4.3% | 1.6% | -0.5% | 7.0% | 6.3% | — | — | 17.5% |
| ROIC | -8.7% | -8.7% | 6.4% | -0.0% | 25.9% | 47.3% | 33.2% | 12.2% | 11.9% |
| ROCE | -10.6% | -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 $93M ($383M total debt minus $289M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.22 | 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 | — | 0.05 | 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 | — | 1.56 | 0.61 | 0.63 | 0.08 | -1.22 | 0.82 | 2.48 | -1.92 |
| Interest Coverage | -19.74 | -19.74 | 18.41 | -0.12 | 406.43 | 44.59 | 14.88 | 6.47 | 89.32 |
STEP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.01x means StepStone Group Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 0.88x to 1.01x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.01 | 1.01 | 0.98 | 0.88 | 0.74 | 1.79 | 2.11 | 1.96 | 2.28 |
| Quick Ratio | 1.01 | 1.01 | 0.98 | 0.88 | 0.74 | 1.79 | 2.11 | 1.96 | 2.28 |
| Cash Ratio | 0.15 | 0.15 | 0.11 | 0.08 | 0.05 | 0.29 | 0.32 | 0.22 | 0.61 |
| Asset Turnover | — | 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 2.0% to shareholders annually primarily through dividends.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.0% | 2.0% | 2.9% | 3.3% | 1.3% | 0.2% | — | — | — |
| Payout Ratio | — | — | 117.9% | — | 12.3% | 3.3% | — | — | 108.5% |
Total Shareholder Return Metrics
| Metric | TTM | 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 | 2.8% | 1.6% | 6.0% | 9.7% | 12.0% | 12.6% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 0.0% | — | — | — |
| Total Shareholder Yield | 2.0% | 2.0% | 2.9% | 3.3% | 2.1% | 0.2% | — | — | — |
| Shares Outstanding | — | $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 | $2B | -21.5 | — | 35.3 | -7.6% | -21.3% | -9.8% | -8.7% | — |
 HLI | $11B | 26.4 | 18.7 | 13.2 | 38.5% | 21.0% | 19.9% | 15.5% | 0.8 |
 HLNE | $4B | 16.4 | 13.3 | 13.6 | 70.8% | 44.4% | 27.2% | 21.2% | 1.1 |
 GCMG | $2B | 26.6 | 15.3 | 11.9 | 99.2% | 26.9% | 244.6% | 22.1% | 3.2 |
 ARES | $40B | 62.8 | 26.9 | 26.2 | 74.8% | 27.2% | 6.8% | 6.1% | 7.4 |
 BX | $96B | 31.5 | 14.8 | 54.9 | 86.0% | 51.9% | 14.6% | 16.1% | 1.8 |
 KKR | $89B | 42.9 | 20.2 | 9.4 | 41.8% | 2.4% | 3.3% | 0.3% | 7.7 |
 APO | $74B | 17.6 | 5.9 | 9.9 | 88.5% | 34.4% | 12.2% | 16.0% | 1.2 |
 CG | $18B | 22.5 | 21.2 | 13.0 | 65.9% | 26.2% | 12.1% | 5.2% | 10.4 |
 TPG | $17B | 36.8 | 21.8 | 17.0 | 96.9% | 14.7% | 4.8% | 9.3% | 2.1 |
 BAM | $82B | 38.1 | 29.6 | 130.6 | 71.0% | 69.4% | 80.9% | 71.0% | 0.1 |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 8 years · Updated daily
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Start ComparisonSTEP — 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 -21.5x. The historical average is 21.7x.
What is StepStone Group Inc.'s ROE?
StepStone Group Inc.'s return on equity (ROE) is -9.8%. The historical average is 6.4%.
Is STEP stock overvalued?
Based on historical data, StepStone Group Inc. is trading at a P/E of -21.5x. 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 1.97%.
What are StepStone Group Inc.'s profit margins?
StepStone Group Inc. has -7.6% gross margin and -21.3% operating margin.