(STEP) Stepstone - Overview
Stock: Private Equity, Venture Capital, Real Estate, Infrastructure, Fund-Of-Funds
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 2.48% |
| Yield on Cost 5y | 5.27% |
| Yield CAGR 5y | 41.42% |
| Payout Consistency | 98.9% |
| Payout Ratio | 63.4% |
| Risk 5d forecast | |
|---|---|
| Volatility | 67.1% |
| Relative Tail Risk | -4.40% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.14 |
| Alpha | -24.99 |
| Character TTM | |
|---|---|
| Beta | 1.697 |
| Beta Downside | 1.874 |
| Drawdowns 3y | |
|---|---|
| Max DD | 38.27% |
| CAGR/Max DD | 0.85 |
Description: STEP Stepstone January 08, 2026
StepStone Group Inc. (NASDAQ: STEP) is a New-York-based investment manager that offers a broad suite of private-equity-related products, including primary direct investments, fund-of-funds, and secondary transactions across a wide range of asset classes and stages-from seed-stage venture capital to mature buyouts and distressed credit.
As of its most recent public filing, StepStone reported roughly **$140 billion in assets under management (AUM)**, with **revenues of $1.2 billion in FY 2023**, reflecting a 12 % year-over-year increase driven largely by higher management fees tied to expanding AUM and a modest rise in performance-based fees as deal activity rebounded. The firm’s global footprint-covering the U.S., Europe, Asia-Pacific, and emerging markets (where it allocates 5-40 % of capital)-positions it to capture the **ongoing shift of private-equity capital toward technology, clean energy, and healthcare**, sectors that have outperformed the broader market in the past two years. A key macro driver is the **tightening of credit markets**, which has increased demand for private-debt and mezzanine financing, areas where StepStone has deep expertise.
Given the firm’s diversified investment mandate and the broader industry trend of rising institutional allocations to alternative assets, analysts should monitor **fundraising pipelines, fee compression risk, and the impact of higher interest rates on portfolio company valuations** before forming a price target. For a deeper, data-rich perspective on STEP’s valuation and risk profile, you might find the analytics on ValueRay worth a quick look.
Piotroski VR‑10 (Strict, 0-10) 2.5
| Net Income: -546.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -2.76 > 1.0 |
| NWC/Revenue: -89.36% < 20% (prev 25.07%; Δ -114.4% < -1%) |
| CFO/TA 0.00 > 3% & CFO 23.2m > Net Income -546.5m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.18 > 1.5 & < 3 |
| Outstanding Shares: last quarter (79.5m) vs 12m ago 7.84% < -2% |
| Gross Margin: 40.09% > 18% (prev 0.02%; Δ 4006 % > 0.5%) |
| Asset Turnover: 37.18% > 50% (prev 26.53%; Δ 10.65% > 0%) |
| Interest Coverage Ratio: -40.15 > 6 (EBITDA TTM -853.8m / Interest Expense TTM 17.3m) |
Altman Z'' -3.70
| A: -0.30 (Total Current Assets 345.7m - Total Current Liabilities 1.94b) / Total Assets 5.24b |
| B: -0.17 (Retained Earnings -866.3m / Total Assets 5.24b) |
| C: -0.14 (EBIT TTM -693.4m / Avg Total Assets 4.80b) |
| D: -0.18 (Book Value of Equity -865.3m / Total Liabilities 4.72b) |
| Altman-Z'' Score: -3.70 = D |
Beneish M -3.98
| DSRI: 0.03 (Receivables 79.7m/1.63b, Revenue 1.78b/1.15b) |
| GMI: 0.06 (GM 40.09% / 2.49%) |
| AQI: 1.70 (AQ_t 0.92 / AQ_t-1 0.54) |
| SGI: 1.54 (Revenue 1.78b / 1.15b) |
| TATA: -0.11 (NI -546.5m - CFO 23.2m) / TA 5.24b) |
| Beneish M-Score: -3.98 (Cap -4..+1) = AAA |
What is the price of STEP shares?
Over the past week, the price has changed by -10.57%, over one month by -12.14%, over three months by +0.93% and over the past year by +3.51%.
Is STEP a buy, sell or hold?
- StrongBuy: 2
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the STEP price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 81.6 | 30.7% |
| Analysts Target Price | 81.6 | 30.7% |
| ValueRay Target Price | 75.3 | 20.5% |
STEP Fundamental Data Overview February 08, 2026
P/S = 4.3772
P/B = 33.0017
Revenue TTM = 1.78b USD
EBIT TTM = -693.4m USD
EBITDA TTM = -853.8m USD
Long Term Debt = 270.2m USD (from longTermDebt, last quarter)
Short Term Debt = 269.3m USD (from shortTermDebt, last fiscal year)
Debt = 382.8m USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -266.1m USD (from netDebt column, last quarter)
Enterprise Value = 7.92b USD (7.80b + Debt 382.8m - CCE 266.1m)
Interest Coverage Ratio = -40.15 (Ebit TTM -693.4m / Interest Expense TTM 17.3m)
EV/FCF = 425.0x (Enterprise Value 7.92b / FCF TTM 18.6m)
FCF Yield = 0.24% (FCF TTM 18.6m / Enterprise Value 7.92b)
FCF Margin = 1.05% (FCF TTM 18.6m / Revenue TTM 1.78b)
Net Margin = -30.66% (Net Income TTM -546.5m / Revenue TTM 1.78b)
Gross Margin = 40.09% ((Revenue TTM 1.78b - Cost of Revenue TTM 1.07b) / Revenue TTM)
Gross Margin QoQ = 50.84% (prev 45.57%)
Tobins Q-Ratio = 1.51 (Enterprise Value 7.92b / Total Assets 5.24b)
Interest Expense / Debt = 1.34% (Interest Expense 5.12m / Debt 382.8m)
Taxrate = 21.0% (US default 21%)
NOPAT = -547.8m (EBIT -693.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.18 (Total Current Assets 345.7m / Total Current Liabilities 1.94b)
Debt / Equity = -1.01 (negative equity) (Debt 382.8m / totalStockholderEquity, last quarter -378.8m)
Debt / EBITDA = 0.31 (negative EBITDA) (Net Debt -266.1m / EBITDA -853.8m)
Debt / FCF = -14.28 (Net Debt -266.1m / FCF TTM 18.6m)
Total Stockholder Equity = -69.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -11.40% (Net Income -546.5m / Total Assets 5.24b)
RoE = 783.6% (negative equity) (Net Income TTM -546.5m / Total Stockholder Equity -69.7m)
RoCE = -345.9% (out of range, set to none) (EBIT -693.4m / Capital Employed (Equity -69.7m + L.T.Debt 270.2m))
RoIC = -273.9% (out of range, set to none) (NOPAT -547.8m / Invested Capital 200.0m)
WACC = 11.65% (E(7.80b)/V(8.19b) * Re(12.17%) + D(382.8m)/V(8.19b) * Rd(1.34%) * (1-Tc(0.21)))
Discount Rate = 12.17% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 7.01%
[DCF Debug] Terminal Value 59.11% ; FCFF base≈65.5m ; Y1≈48.7m ; Y5≈28.5m
Fair Price DCF = 7.39 (EV 326.2m - Net Debt -266.1m = Equity 592.3m / Shares 80.1m; r=11.65% [WACC]; 5y FCF grow -30.37% → 2.90% )
EPS Correlation: 67.79 | EPS CAGR: 15.39% | SUE: 0.97 | # QB: 1
Revenue Correlation: 57.88 | Revenue CAGR: 13.51% | SUE: 1.48 | # QB: 4
EPS next Quarter (2026-06-30): EPS=0.55 | Chg30d=-0.009 | Revisions Net=+2 | Analysts=6
EPS next Year (2027-03-31): EPS=2.53 | Chg30d=+0.007 | Revisions Net=+4 | Growth EPS=+20.7% | Growth Revenue=+20.3%