StepStone Group Inc. (STEP) Revenue History
Annual and quarterly revenue from 2018 to 2025
Compound Annual Growth Rate (CAGR)
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STEP Revenue Growth
Revenue Breakdown (FY 2025)
STEP's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
STEP Revenue Analysis (2018–2025)
As of May 8, 2026, StepStone Group Inc. (STEP) generated trailing twelve-month (TTM) revenue of $1.78 billion, reflecting explosive growth of +73.0% year-over-year. The most recent quarter (Q3 2026) recorded $586.5 million in revenue, up 29.1% sequentially.
Looking at the longer-term picture, STEP's 5-year compound annual growth rate (CAGR) stands at +21.3%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $1.37 billion in 2022.
Revenue diversification analysis shows STEP's business is primarily driven by Management And Advisory Fees, Net (65%), and Performance Fees (35%). With over half of revenue concentrated in Management And Advisory Fees, Net, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including HLI, HLNE, and GCMG. Compare STEP vs HLI →
STEP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| STEPCurrent | $1.8B | +73.0% | +21.3% | -21.3% | |
 HLI | $2.4B | - | - | 21.0% | |
 HLNE | $713M | - | - | 44.4% | |
 GCMG | $550M | - | - | 26.9% | |
 ARES | $6.5B | - | - | 27.2% | |
 BX | $13.8B | - | - | 51.9% |
STEP Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.17B | - | $-89,465,000 | -7.6% | $-250,719,000 | -21.3% |
| 2024 | $711.6M | - | $381.4M | 53.6% | $171.8M | 24.1% |
| 2023 | $-67,574,000 | - | $171.6M | -253.9% | $-497,000 | 0.7% |
| 2022 | $1.37B | - | $576.8M | 42.2% | $452.4M | 33.1% |
| 2021 | $787.7M | - | $384.6M | 48.8% | $328.2M | 41.7% |
| 2020 | $446.6M | - | $206.2M | 46.2% | $151.9M | 34.0% |
| 2019 | $256.3M | - | $116.5M | 45.4% | $66.4M | 25.9% |
| 2018 | $264.3M | - | $117.6M | 44.5% | $81.5M | 30.9% |
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Start ComparisonSTEP — Frequently Asked Questions
Quick answers to the most common questions about buying STEP stock.
Is STEP's revenue growth accelerating or slowing?
STEP revenue is accelerating at +73.0% year-over-year, exceeding the 5-year CAGR of +21.3%. TTM revenue reached $1.8B. Growth momentum has increased versus prior periods.
What is STEP's long-term revenue growth rate?
StepStone Group Inc.'s 5-year revenue CAGR of +21.3% reflects the sustained expansion pattern. Current YoY growth of +73.0% is above this long-term average.
How is STEP's revenue distributed by segment?
STEP reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2018-2025 are available for download. Segment mix reveals concentration and diversification trends.