Blackstone Secured Lending Fund (BXSL) vs StepStone Group Inc. (STEP)
Blackstone Secured Lending Fund and StepStone Group Inc. are both Asset Management companies. Blackstone Secured Lending Fund and StepStone Group Inc. are of similar size ($5.8B and $5.3B). StepStone Group Inc. has negative trailing earnings, so its P/E is not meaningful; Blackstone Secured Lending Fund trades at 19.4×. StepStone Group Inc. grew revenue faster over the last twelve months: 48.5% against −2.58%. Blackstone Secured Lending Fund has the higher net margin (21.5% vs −30.5%) and the higher return on invested capital (0.00% vs −42.5%). Both pay a dividend; Blackstone Secured Lending Fund yields more (10.3% vs 2.50%). Across the 19 metrics below, Blackstone Secured Lending Fund leads on 17 and StepStone Group Inc. on 2.
Valuation
Profitability
| Metric | BXSL | STEP | Asset Management median |
|---|---|---|---|
| Gross margin | 100.00% | 100.00% | 100.00% |
| Operating margin | 82.62% | (58.22%) | 33.03% |
| Net margin | 21.53% | (30.53%) | 13.53% |
| Free cash flow margin | 10.86% | (21.88%) | 12.44% |
| Return on equity | 4.80% | (55.72%) | 4.83% |
| Return on assets | 2.13% | (9.77%) | 1.57% |
| Return on invested capital | 0.00% | (42.51%) | 3.04% |
Growth
Health
Dividend
Size
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