(STEP) Stepstone - Overview
Sector: Financial Services | Industry: Asset Management | Exchange: NASDAQ (USA) | Market Cap: 6.500m USD | Total Return: -7% in 12m
Avg Turnover: 38.2M
EPS Trend: 96.7%
Qual. Beats: 0
Rev. Trend: 94.0%
Qual. Beats: 5
Warnings
Negative Equity with losses - insolvent profile
Below Avwap Earnings
Tailwinds
No distinct edge detected
StepStone Group Inc. (NASDAQ: STEP) is a global private markets investment firm providing customized portfolios and advisory services. The firm operates across four primary asset classes: private equity, real estate, infrastructure and real assets, and private debt. Its investment strategies encompass primary fund commitments, secondary transactions, and direct co-investments.
The company utilizes a specialized fund of funds and advisory model, which allows institutional and high-net-worth investors to diversify across various private market managers and vintage years. In the Asset Management & Custody Banks sector, firms like StepStone generate revenue primarily through management fees based on committed or invested capital and performance-based carried interest.
StepStone’s geographic footprint spans North America, Europe, Asia, and emerging markets, with a mandate that covers the full corporate lifecycle from seed-stage venture capital to distressed debt and mature buyouts. To deepen your understanding of the firms valuation and performance metrics, consider reviewing the detailed data available on ValueRay.
- Growth in assets under management drives recurring management fee revenue expansion
- Global private markets demand increases capital allocation to alternative investment strategies
- Performance fee volatility impacts quarterly earnings and overall stock price valuation
- High interest rates affect deal flow and realization of carried interest gains
- Expansion into retail and wealth management channels diversifies the institutional client base
| Net Income: -535.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -2.68 > 1.0 |
| NWC/Revenue: error (cannot be calculated; needs Current Assets/Liabilities and Revenue current+prev) |
| CFO/TA 0.00 > 3% & CFO 23.2m > Net Income -535.8m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: error (cannot be calculated; needs correct Total Current Assets and Liabilities) |
| Outstanding Shares: last quarter (80.3m) vs 12m ago 5.69% < -2% |
| Gross Margin: 77.41% > 18% (prev -0.08%; Δ 7.75k% > 0.5%) |
| Asset Turnover: 35.13% > 50% (prev 25.61%; Δ 9.52% > 0%) |
| Interest Coverage Ratio: -50.62 > 6 (EBITDA TTM -971.0m / Interest Expense TTM 18.5m) |
| DSRI: 0.05 (Receivables 133.3m/1.67b, Revenue 1.99b/1.17b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.71 (AQ_t 0.94 / AQ_t-1 0.55) |
| SGI: 1.70 (Revenue 1.99b / 1.17b) |
| TATA: -0.08 (NI -535.8m - CFO 23.2m) / TA 6.76b) |
| Beneish M = -2.97 (Cap -4..+1) = A |
As of May 25, 2026, the stock is trading at USD 54.74 with a total of 2,002,474 shares traded.
Over the past week, the price has changed by +0.37%,
over one month by +3.71%,
over three months by +18.17% and
over the past year by -6.96%.
Stepstone has received a consensus analysts rating of 3.83. Therefore, it is recommended to buy STEP.
- StrongBuy: 2
- Buy: 1
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 72.6 | 32.7% |
P/S = 3.646
P/B = 33.0017
Revenue TTM = 1.99b USD
EBIT TTM = -936.7m USD
EBITDA TTM = -971.0m USD
Long Term Debt = 270.2m USD (from longTermDebt, two quarters ago)
Short Term Debt = unknown (none)
Debt = 483.2m USD (from shortLongTermDebtTotal, two quarters ago) + Leases 106.5m
Net Debt = 270.2m USD (calculated: Debt 483.2m - CCE 213.1m)
Enterprise Value = 6.77b USD (6.50b + Debt 483.2m - CCE 213.1m)
Interest Coverage Ratio = -50.62 (Ebit TTM -936.7m / Interest Expense TTM 18.5m)
EV/FCF = 363.3x (Enterprise Value 6.77b / FCF TTM 18.6m)
FCF Yield = 0.28% (FCF TTM 18.6m / Enterprise Value 6.77b)
FCF Margin = 0.93% (FCF TTM 18.6m / Revenue TTM 1.99b)
Net Margin = -26.88% (Net Income TTM -535.8m / Revenue TTM 1.99b)
Gross Margin = 77.41% ((Revenue TTM 1.99b - Cost of Revenue TTM 450.3m) / Revenue TTM)
Gross Margin QoQ = none% (prev 50.84%)
Tobins Q-Ratio = 1.00 (Enterprise Value 6.77b / Total Assets 6.76b)
Interest Expense / Debt = 3.83% (Interest Expense 18.5m / Debt 483.2m)
Taxrate = 21.0% (US default 21%)
NOPAT = -740.0m (EBIT -936.7m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = unknown (Total Current Assets 346.4m / Total Current Liabilities none)
Debt / Equity = -1.17 (negative equity) (Debt 483.2m / totalStockholderEquity, last quarter -413.6m)
Debt / EBITDA = -0.28 (negative EBITDA) (Net Debt 270.2m / EBITDA -971.0m)
Debt / FCF = 14.50 (Net Debt 270.2m / FCF TTM 18.6m)
Total Stockholder Equity = -218.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -9.44% (Net Income -535.8m / Total Assets 6.76b)
RoE = -78.92% (Net Income TTM -535.8m / Total Stockholder Equity 678.9m)
RoCE = -98.68% (EBIT -936.7m / Capital Employed (Equity 678.9m + L.T.Debt 270.2m))
RoIC = unknown (NOPAT -740.0m, Invested Capital 0.0, EBIT -936.7m)
WACC = 11.36% (E(6.50b)/V(6.98b) * Re(11.98%) + D(483.2m)/V(6.98b) * Rd(3.83%) * (1-Tc(0.21)))
Discount Rate = 11.98% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 10.56%
[DCF] Terminal Value 62.75% ; FCFF base≈65.5m ; Y1≈57.4m ; Y5≈46.4m
[DCF] Fair Price = 2.86 (EV 499.4m - Net Debt 270.2m = Equity 229.2m / Shares 80.1m; r=11.36% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 96.72 | EPS CAGR: 36.48% | SUE: 0.70 | # QB: 0
Revenue Correlation: 94.05 | Revenue CAGR: 99.31% | SUE: 4.0 | # QB: 5
EPS current Quarter (2026-06-30): EPS=0.51 | Chg30d=-6.60% | Revisions=-14% | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.57 | Chg30d=-6.82% | Revisions=+0% | Analysts=4
EPS current Year (2027-03-31): EPS=2.39 | Chg30d=-4.76% | Revisions=-11% | GrowthEPS=+10.7% | GrowthRev=+12.5%
EPS next Year (2028-03-31): EPS=3.28 | Chg30d=+3.08% | Revisions=+14% | GrowthEPS=+37.3% | GrowthRev=+15.7%
[Analyst] Revisions Ratio: -14%