Overview Dividends

(STEP) Stepstone - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US85914M1071

Private Equity, Venture Capital, Fund-Of-Funds, Secondary Investments, Real Assets

Asset Management & Custody Banks
Market Cap in USD: 7,527m

IPO / Inception: 2020-09-16
Return 12m vs S&P 500: -15.5%

EPS (Earnings per Share)

EPS CAGR: 6.93%
EPS Trend: 50.4%

Last SUE: 0.73
Qual. Beats: 0

Revenue

Rev. CAGR: 2.74%
Rev. Trend: 43.3%

Last SUE: 1.47
Qual. Beats: 3

Dividends

Dividend Yield	2.24%
Yield on Cost 5y	5.81%
Yield CAGR 5y	42.88%
Payout Consistency	98.6%
Payout Ratio	69.9%

Risk via 10d forecast
Volatility	35.4%
Value at Risk 5%th	55.6%
Relative Tail Risk	-4.60%

Reward TTM
Sharpe Ratio	0.04
Alpha	-27.67
CAGR/Max DD	0.82

Character TTM
Hurst Exponent	0.351
Beta	1.687
Beta Downside	1.959

Drawdowns 3y
Max DD	38.27%
Mean DD	10.05%
Median DD	7.69%

Description: STEP Stepstone November 05, 2025

StepStone Group Inc. (NASDAQ: STEP) is a global private-equity and venture-capital platform that deploys capital across primary and secondary strategies, including direct investments, fund-of-funds, co-investments and follow-on commitments.

Its direct-investment mandate spans the full capital-structure spectrum-from private-debt and venture-debt to mezzanine, distressed, growth-capital and buyout deals-targeting sectors such as technology, healthcare, clean energy, infrastructure, consumer durables and real assets.

Geographically, StepStone operates in North America, Europe, Asia and Latin America, allocating roughly 5-40 % of its capital to emerging-market opportunities, with notable exposure in Brazil, India and South-Korea.

As of the most recent filing, the firm reported approximately $71 billion in assets under management (AUM) and generated $1.12 billion of revenue in FY 2023, reflecting a 12 % YoY increase driven by strong fundraising activity in the private-equity sector.

Industry-wide, private-equity fundraising grew about 10 % in 2023, while capital deployment in emerging markets accelerated 15 % YoY, underscoring the relevance of StepStone’s diversified, global approach.

For a deeper quantitative view of STEP’s valuation metrics and peer comparison, you may find ValueRay’s analyst toolkit useful.

Piotroski VR‑10 (Strict, 0-10) 0.5

Net Income (-615.1m TTM) > 0 and > 6% of Revenue (6% = 92.1m TTM)

FCFTA 0.00 (>2.0%) and ΔFCFTA -2.86pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 27.55% (prev 22.81%; Δ 4.74pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.00 (>3.0%) and CFO 23.6m > Net Income -615.1m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 1.23 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (78.6m) change vs 12m ago 12.72% (target <= -2.0% for YES)

Gross Margin 6.52% (prev 46.65%; Δ -40.13pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 32.76% (prev 19.81%; Δ 12.95pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -69.31 (EBITDA TTM -1.00b / Interest Expense TTM 15.2m) >= 6 (WARN >= 3)

Altman Z'' -1.61

(A) 0.08 = (Total Current Assets 2.30b - Total Current Liabilities 1.88b) / Total Assets 5.33b

(B) -0.14 = Retained Earnings (Balance) -720.4m / Total Assets 5.33b

(D) -0.18 = Book Value of Equity -719.4m / Total Liabilities 4.11b

Total Rating: -1.61 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 44.20

1. Piotroski 0.50pt

2. FCF Yield 0.25%

3. FCF Margin 1.23%

4. Debt/Equity -1.63

5. Debt/Ebitda -0.01

7. RoE -794.5%

8. Rev. Trend 43.26%

9. EPS Trend 50.41%

What is the price of STEP shares?

As of November 28, 2025, the stock is trading at USD 62.62 with a total of 820,110 shares traded.
Over the past week, the price has changed by +5.47%, over one month by -2.99%, over three months by +0.42% and over the past year by -2.91%.

Is STEP a buy, sell or hold?

Stepstone has received a consensus analysts rating of 3.83. Therefore, it is recommended to buy STEP.

Strong Buy: 2
Buy: 1
Hold: 3
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the STEP price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	74.9	19.5%
Analysts Target Price	74.9	19.5%
ValueRay Target Price	73.1	16.7%

STEP Fundamental Data Overview November 25, 2025

Market Cap USD = 7.53b (7.53b USD * 1.0 USD.USD)
P/E Forward = 30.1205
P/S = 4.9026
P/B = 33.0017
Beta = 1.434
Revenue TTM = 1.54b USD
EBIT TTM = -1.05b USD
EBITDA TTM = -1.00b USD
Long Term Debt = 269.9m USD (from longTermDebt, last quarter)
Short Term Debt = 269.3m USD (from shortTermDebt, last fiscal year)
Debt = 379.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 13.2m USD (from netDebt column, last quarter)
Enterprise Value = 7.54b USD (7.53b + Debt 379.4m - CCE 366.2m)
Interest Coverage Ratio = -69.31 (Ebit TTM -1.05b / Interest Expense TTM 15.2m)
FCF Yield = 0.25% (FCF TTM 18.9m / Enterprise Value 7.54b)
FCF Margin = 1.23% (FCF TTM 18.9m / Revenue TTM 1.54b)
Net Margin = -40.06% (Net Income TTM -615.1m / Revenue TTM 1.54b)
Gross Margin = 6.52% ((Revenue TTM 1.54b - Cost of Revenue TTM 1.44b) / Revenue TTM)
Gross Margin QoQ = 45.57% (prev 47.38%)
Tobins Q-Ratio = 1.41 (Enterprise Value 7.54b / Total Assets 5.33b)
Interest Expense / Debt = 1.17% (Interest Expense 4.42m / Debt 379.4m)
Taxrate = 14.85% (-100.3m / -675.8m)
NOPAT = -894.6m (EBIT -1.05b * (1 - 14.85%)) [loss with tax shield]
Current Ratio = 1.23 (Total Current Assets 2.30b / Total Current Liabilities 1.88b)
Debt / Equity = -1.63 (negative equity) (Debt 379.4m / totalStockholderEquity, last quarter -233.5m)
Debt / EBITDA = -0.01 (negative EBITDA) (Net Debt 13.2m / EBITDA -1.00b)
Debt / FCF = 0.70 (Net Debt 13.2m / FCF TTM 18.9m)
Total Stockholder Equity = 77.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -11.54% (Net Income -615.1m / Total Assets 5.33b)
RoE = -794.5% (Net Income TTM -615.1m / Total Stockholder Equity 77.4m)
RoCE = -302.5% (out of range, set to none) (EBIT -1.05b / Capital Employed (Equity 77.4m + L.T.Debt 269.9m))
RoIC = -277.9% (out of range, set to none) (NOPAT -894.6m / Invested Capital 321.8m)
WACC = 11.69% (E(7.53b)/V(7.91b) * Re(12.23%) + D(379.4m)/V(7.91b) * Rd(1.17%) * (1-Tc(0.15)))
Discount Rate = 12.23% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 10.73%
[DCF Debug] Terminal Value 58.32% ; FCFE base≈63.3m ; Y1≈48.4m ; Y5≈30.1m
Fair Price DCF = 4.09 (DCF Value 323.5m / Shares Outstanding 79.1m; 5y FCF grow -27.87% → 3.0% )
EPS Correlation: 50.41 | EPS CAGR: 6.93% | SUE: 0.73 | # QB: 0
Revenue Correlation: 43.26 | Revenue CAGR: 2.74% | SUE: 1.47 | # QB: 3

Additional Sources for STEP Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle