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StepStone Group Inc. STEP

Financial — Asset Management
Insider Buys (last 12m)
Insider Buys alert about insiders buying in the last 12 month

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Insider Decisions

Total buys
5.59
Total sells
38.09
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — 1 — — — 1 — — —
Sell 1 2 2 1 — — — — 1 — — —
Insider Ownership
6.31%

Capital & Financial Ratios

Market Cap
5,730.00
Revenue
2,008.21
Net Income
(901.63)
Free Cash Flow
(439.39)
Net Debt
748.44
Current Ratio
0.19
Debt/Equity
1.50
P/E ratio
0.00
P/S ratio
1.89
P/B ratio
3.91
Past 5Y EPS Growth
(13.21%)
This Y EPS Growth
14.25%
Next Y EPS Growth
37.51%
Next 5Y EPS Growth
20.07%
in millions of $

Dividends

Payout Ratio
4.77
Annual Dividend Rate
0.84
Annual Dividend Yield
2.50%
total individual payouts
2029 ‡‡‡‡‡
2028 ‡‡‡‡‡
2027 ‡‡‡‡‡
2026 1.09
—
—
—
2025 0.88
—
—
—
—
2024 0.69
—
—
—
—
2023 0.62
—
—
—
—
2022 0.75
—
—
—
—
2021 0.43
—
—
—
—
—
2020 ‡‡‡
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2024 2025 2026 Q'26
Cash 182.31 289.80 1,119.00 703.10
Receivables 56.77 80.87 133.29 109.71
Inventory — — — —
Other 67.53 92.72 113.15 153.02
306.61 463.40 1,365.44 965.83
2024 2025 2026 Q'26
Payables 127.42 89.73 102.69 84.92
ST’ Debt 148.82 269.27 1,201.76 270.90
Other 212.92 331.82 362.83 366.80
1,794.29 2,681.22 5,747.84 5,205.03
in millions of $

Compound Annual Growth

10y 5y 3y
Sales — ‡‡‡‡‡ ‡‡‡
Cash Flow — ‡‡‡‡‡ ‡‡‡‡‡
Earnings — ‡‡‡ ‡‡‡
Book Value — ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Jun Sep Dec Mar Year
’26 378.89 — — —
—
’26 364.29 454.23 586.51 588.58
1,993.60
’25 186.40 271.68 339.02 377.73
1,174.83
’24 178.01 191.42 (14.61) 356.81
711.63
’23 (77.22) (158.49) (4.23) 172.37
(67.57)
’22 308.61 281.77 410.47 364.69
1,365.53
’21 (61.41) 242.91 247.15 359.07
787.72
in millions of $

Operating Cash Flow

Jun Sep Dec Mar Year
’26 (457.51) — — —
—
’26 46.28 16.24 27.16 (23.20)
66.48
’25 50.17 53.70 27.59 (66.52)
64.93
’24 57.59 71.13 25.18 7.63
161.52
’23 57.48 88.23 5.99 (0.52)
151.18
’22 75.73 59.77 46.48 32.30
214.28
’21 28.92 53.94 37.44 29.00
149.30
in millions of $

Free Cash Flow

Jun Sep Dec Mar Year
’26 (458.06) — — —
—
’26 45.19 15.91 26.73 (23.96)
63.86
’25 49.60 52.40 27.02 (69.19)
59.83
’24 49.83 64.28 21.09 6.71
141.92
’23 57.13 86.49 4.93 (2.99)
145.56
’22 74.54 59.64 46.16 31.84
212.18
’21 28.58 53.54 37.18 28.75
148.04
in millions of $

EPS

Jun Sep Dec Mar Year
’26 (1.41) — — —
—
’26 (0.49) (4.66) (1.55) (0.10)
(6.78)
’25 0.20 0.26 (2.61) (0.24)
(2.52)
’24 0.34 0.42 (0.32) 0.46
0.91
’23 (0.18) (0.48) (0.11) 0.46
(0.30)
’22 1.06 1.45 0.83 0.69
3.84
’21 (0.60) (0.03) 0.87 1.22
2.06

Target Price Range

High
‡‡‡‡‡
‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡

Recommendation Rating

1.3
1
Buy
2
3
Hold
4
5
Sell
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
— — — ‡‡‡‡‡ ‡‡‡‡‡ 22.39 19.83 30.46 40.07 38.85 — — —
Low Price
— — — ‡‡‡‡‡ ‡‡‡‡‡ 42.33 32.39 70.38 68.41 77.80 — — —
High Price
— — — ‡‡‡‡‡ ‡‡‡‡‡ 790 956 990 1,130 1,310 — — —
Employees
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.73 (0.07) 0.72 1.04 1.52 — — —
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,365.53 (67.57) 711.63 1,174.83 1,993.60 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ ‡‡‡ 100.00% 100.00% 100.00% 100.00% 100.00% — — —
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 512.58 (41.45) 195.40 (222.03) (891.17) — — —
EBT
‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 37.54% 61.35% 27.46% (18.90%) (44.70%) ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 484.28 (45.27) 167.82 (172.83) (743.28) — — —
Net Income
— — ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 27.21 47.92 48.06 46.34 47.04 — — —
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 27.40 (1.09) 11.21 16.51 25.22 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ 3.89 (0.30) 0.91 (2.52) (6.78) — — —
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.30 2.44 2.54 0.91 0.84 — — —
Cash Flow/Sh
‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.04) (0.09) (0.31) (0.07) (0.03) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.26 2.35 2.24 0.84 0.81 — — —
Free CF/Sh
‡‡‡ ‡‡‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 36.61 26.32 26.06 19.54 8.74 ‡‡‡‡‡ — —
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 49.83 61.89 63.49 71.14 79.04 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.08 0.00 37.86 0.00 0.00 — — —
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.47 0.00 3.11 3.16 1.89 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.10 0.94 1.34 2.67 5.46 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.52 (25.16) 3.39 3.35 1.93 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9.79 11.68 17.02 65.73 60.36 — — —
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 214.28 151.18 161.52 64.93 66.48 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (2.10) (5.63) (19.61) (5.10) (2.62) — — —
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 212.18 145.56 141.92 59.83 63.86 ‡‡‡‡‡ — —
FCF
— — — ‡‡‡‡‡ ‡‡‡‡‡ (2,121.87) (1,494.01) (1,487.68) (2,217.82) (4,382.40) — — —
Working Cap'
— ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ — 185.88 305.35 148.82 269.27 2,132.94 — — —
Total Debt
— ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 68.43 175.83 (33.49) (20.54) 1,013.94 — — —
Net Debt
— ‡‡‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,824.33 1,628.79 1,654.59 1,390.15 691.01 — — —
Sh' Equity
‡‡‡ ‡‡‡‡‡ ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 7.04% (0.48%) 1.59% (4.29%) (9.44%) — — —
ROA
— ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 14.94% (0.02%) 6.62% (12.18%) (37.51%) — — —
ROIC
‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 15.61% (1.07%) 3.54% (11.79%) (51.49%) — — —
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

StepStone Group Inc. (STEP), a leader in private equity, infrastructure, and real assets, is poised at a pivotal inflection point amid surging demand for alternatives. After explosive revenue growth from $447 million in 2020 to $1.37 billion in 2022 (206% CAGR), a 2023 non-cash dip to -$68 million tested resilience, but the rebound is fierce: $712 million in 2024 and $1.17 billion in 2025, with forecasts projecting ~20% forward CAGR through 2028. Scaling headcount 115% to 1,130 by 2025, revenue per employee has snapped back to $1.04 million, underscoring operational leverage in its high-margin, asset-light model with 100% gross margins.

Profitability swings—from $484 million net income in 2022 to losses in 2023-2025—stem from lumpy realizations and non-recurring items, yet free cash flow per share remains positive at $0.84 in 2025, balance sheet equity surges 487% to $1.39 billion, and net debt flips to a surplus. Trading at undervalued ~4x 2026 forward earnings (vs. historical 24-37x peaks and peer 10-15x), with PS at 3x and 29% mean price target upside, STEP offers compelling asymmetry despite routine insider selling.

Strategic edges like the Oak Hill acquisition, GP stakes, secondaries, and expansions into Asia/EU align with macro tailwinds in private credit and infrastructure amid $2T+ dry powder. Expect 15-20% revenue growth, positive EPS of $0.76+ in 2026, and tripling FCF per share—positioning STEP for multiple expansion as rates ease and private markets revive.

Read full commentary →

StepStone Group Inc. (STEP) Latest News

News by impact score

Fine-tune

14 Sep

3 , 8:00 AM
Amulet Capital Partners closes continuation vehicle led by StepStone Group Inc. (STEP) to support US Fertility growth. StepStone leads continuation vehicle for US Fertility, signaling expanded private equity activity with moderate effects on operations.

10 Sep

3 , 11:44 AM
RBC forecasts StepStone Group Inc. (STEP) will deliver around 25% annual earnings growth. Analyst projection of 25% earnings growth may moderately lift short-term investor sentiment and stock performance.

1 Sep

3 , 8:00 AM
System One announces strategic investment partnership with Oaktree and StepStone Group. Investment partnership signals expanded opportunities for StepStone's asset management activities.

3 , 5:09 AM
StepStone Group reports revenue miss that questions its competitive standing in alternatives investing. Revenue shortfall points to moderate pressure on financial results and positioning in alternatives.

26 Aug

3 , 8:05 AM
StepStone Group closed its Infrastructure Secondaries Fund, raising $1.7 billion across the fund and related separate accounts. Successful close of a $1.7 billion fund increases assets under management and supports future fee income.

18 Aug

3 , 12:45 PM
StepStone Group (STEP) reported Q2 earnings, prompting analysis on buy, sell, or hold decisions for the stock. Q2 earnings and resulting buy/sell/hold views may moderately shift STEP stock trajectory and sentiment.

15 Aug

3 , 3:17 AM
StepStone Group’s Q2 earnings call featured five key analyst questions on financial performance, fee revenue, and growth outlook. Q2 earnings call questions may shape short-term investor views on operations but are unlikely to drive major strategic shifts.

13 Aug

4 transcript www.fool.com, 7:48 PM
StepStone Group Inc. (STEP) released its Q1 2027 earnings call transcript covering quarterly financial results, performance metrics and executive outlook. Earnings call details directly shape investor views on financial trajectory and guidance.

11 Aug

4 , 2:21 AM
StepStone Group Inc. reports Q2 momentum in private wealth alongside strategic M&A that shapes its positive outlook. Strategic M&A and private wealth momentum indicate major shifts likely to alter StepStone's trajectory and investor sentiment.

7 Aug

3 , 4:13 PM
StepStone Group (STEP) stock rose 15.4% after revenue surged while net loss widened, raising questions on whether the bull case has changed. Mixed earnings with higher revenue but wider losses create moderate short-term effects on financial perception and stock movement.

3 www.marketbeat.com, 9:04 AM
StepStone Group Inc. presented Q1 earnings call highlights covering financial results, assets under management and operational updates. Q1 earnings highlights deliver financial metrics and guidance that may influence short-term stock movement.

6 Aug

3 , 7:10 PM
StepStone Group Inc. missed Q1 earnings and revenue estimates. Missing Q1 earnings and revenue estimates typically pressures near-term stock performance and investor sentiment.

3 , 4:05 PM
StepStone Group Inc. reported its first quarter fiscal year 2027 results. Quarterly earnings releases disclose financial performance that can shift investor sentiment and near-term valuation.

20 Jul

3 pitchbook.com, 7:00 PM
US buyout deal multiples matched 2021 record highs last year. Elevated buyout multiples indicate stronger valuations and exit opportunities for StepStone's private equity platform.

16 Jul

3 , 11:16 AM
StepStone Group Inc. releases fresh financial results that draw market attention and trigger debate over the company's valuation. Fresh results and valuation debate may moderately influence short-term investor sentiment around StepStone Group.

9 Jul

3 , 2:34 PM
StepStone Group (STEP) and PitchBook launch SPI Deal Benchmarking. Launch of SPI Deal Benchmarking with PitchBook adds service capability with moderate competitive benefit.

8 Jul

4 , 4:20 AM
Citi advised StepStone Group on landmark $3.3 billion Structured Solutions Vehicle. $3.3 billion vehicle deal marks major strategic expansion for StepStone.

17 Jun

3 , 8:05 AM
StepStone and PitchBook launch deal-level benchmarking solution that adds StepStone's institutional-grade fund and deal performance data to PitchBook's private markets intelligence platform. Partnership integrates StepStone performance data into major PitchBook platform, expanding data reach and potential adoption without altering core operations.

27 May

3 StockStory, 5:05 AM
StepStone Group Inc. held its Q1 earnings call, during which analysts posed five key questions addressing company performance, strategy, and market outlook. Analyst questions from the Q1 earnings call may influence short-term investor views on StepStone operations and outlook but are unlikely to drive major strategic shifts.

23 May

3 StockStory, 12:04 AM
StepStone Group Q1 results showed fee-earning asset growth and private wealth inflows driving outperformance. Q1 fee-earning asset growth and private wealth inflows support improved financial performance and market positioning.

21 May

4 Barrons.com, 6:07 PM
StepStone Group reports strong growth in private asset management and continues to dismiss ongoing criticisms of its operations and strategy. Reported strong growth directly supports improved financial trajectory and investor sentiment for StepStone.

4 GuruFocus.com, 1:00 AM
StepStone Group Inc posted record fee-related earnings in its Q4 2026 earnings call, reflecting strong operational results. Record fee-related earnings indicate robust profitability likely to lift stock valuation and investor outlook.

20 May

4 GlobeNewswire, 4:05 PM
StepStone Group Inc. (STEP) reported financial results for the fourth quarter and full fiscal year 2026. Full-year earnings disclosure typically moves stock price and alters near-term valuation outlook.

3 transcript www.marketbeat.com, 7:05 PM
StepStone Group reported Q4 results with revenue of $590M and AUM reaching $134B. Management highlighted 12% fee revenue growth, private equity and real estate performance, and raised full-year guidance amid expanding institutional inflows. Q4 earnings and raised guidance provide moderate updates to financial trajectory and near-term sentiment without altering long-term strategy.

3 Zacks, 7:00 PM
StepStone Group (STEP) reported Q4 earnings with key financial metrics compared directly against analyst estimates. Q4 earnings metrics versus estimates can shift near-term investor views on financial results.

3 transcript www.fool.com, 6:49 PM
StepStone Group Inc. (STEP) released Q4 2026 earnings results in its earnings call, covering revenue, net income, assets under management, fee-related earnings, and management commentary on market conditions and future outlook. Quarterly earnings releases provide performance metrics and guidance that can influence short-term stock movements and investor views.

3 Zacks, 5:30 PM
StepStone Group Inc. reported Q4 earnings and revenues exceeding Wall Street estimates. Q4 earnings beat lifts near-term sentiment but does not alter long-term strategy or competitive position.

3 StockStory, 4:20 PM
StepStone Group reported strong Q1 CY2026 results, with positive financial performance that supports improved investor sentiment and near-term stock stability. Strong quarterly earnings typically produce moderate short-term gains in market perception without fundamentally shifting long-term strategy.

3 StockStory, 2:44 PM
StepStone Group Inc. prepares to report earnings with investors watching assets under management, fee revenue, and investment returns for signs of growth. Upcoming earnings release can shift near-term stock price and sentiment through key financial metrics.

3 Barrons.com, 2:40 PM
StepStone Group faces an impending costly payout that could strain finances and operations for the private asset manager. Looming costly payout introduces financial pressure likely to influence near-term performance and sentiment without fully redefining long-term trajectory.
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