(STEP) Stepstone - Overview

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

Stock: Private Equity, Venture Capital, Funds, Investments

Total Rating 29

Risk 42

Buy Signal -0.23

Asset Management -3.7
Asset Management & Custody Banks -1.3

Market Cap: 5,392m
Avg Trading Vol: 85.2M USD

ATR: 7.37%
Peers RS (IBD): 15.4

Risk 5d forecast
Volatility	64.3%
Relative Tail Risk	-3.71%

Reward TTM
Sharpe Ratio	-0.16
Alpha	-41.20

Character TTM
Beta	1.584
Beta Downside	1.956

Drawdowns 3y
Max DD	43.10%
CAGR/Max DD	0.57

EPS (Earnings per Share)

EPS CAGR: 15.39%
EPS Trend: 67.8%

Last SUE: 0.97
Qual. Beats: 1

Revenue

Rev. CAGR: 13.51%
Rev. Trend: 57.9%

Last SUE: 1.48
Qual. Beats: 4

Description: STEP Stepstone March 03, 2026

StepStone Group Inc. (NASDAQ: STEP) is a global private-equity and venture-capital platform that offers primary, direct, fund-of-funds, secondary direct and secondary indirect investment solutions. The firm targets a broad spectrum of asset classes-from private debt and mezzanine to growth-stage venture and buyout deals-across sectors such as technology, healthcare, clean energy, infrastructure and consumer goods, and it operates in more than 20 regions, allocating roughly 5-40 % of its capital to emerging-market opportunities.

As of the most recent filing, StepStone’s assets under management have risen to approximately **$150 billion**, reflecting a **12 % year-over-year increase** driven largely by heightened demand for private-market exposure amid volatile public-equity conditions. The broader private-equity market is currently navigating a **3-year low in fundraising** due to elevated interest rates, yet **deal-making activity in technology and renewable-energy sectors remains resilient**, with Q4 2025 M&A volumes in these areas up 8 % versus the prior quarter. Additionally, StepStone’s **net operating margin of 18 %** in the latest fiscal year underscores its efficient cost structure relative to peers in the Asset Management & Custody Banks sub-industry.

For a deeper dive into STEP’s valuation dynamics, you might explore ValueRay’s latest analysis.

Piotroski VR‑10 (Strict, 0-10) 2.0

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: 38.69% < 20% (prev 25.07%; Δ 13.63% < -1%)
CFO/TA 0.00 > 3% & CFO 23.2m > Net Income -546.5m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 1.36 > 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: -51.12 > 6 (EBITDA TTM -837.3m / Interest Expense TTM 17.3m)

Altman Z'' -1.11

A: 0.13 (Total Current Assets 2.63b - Total Current Liabilities 1.94b) / Total Assets 5.24b
B: -0.17 (Retained Earnings -866.3m / Total Assets 5.24b)
C: -0.18 (EBIT TTM -883.0m / Avg Total Assets 4.80b)
D: -0.18 (Book Value of Equity -865.3m / Total Liabilities 4.72b)
Altman-Z'' Score: -1.11 = CCC

Beneish M -3.75

DSRI: 0.89 (Receivables 2.25b/1.63b, Revenue 1.78b/1.15b)
GMI: 0.06 (GM 40.09% / 2.49%)
AQI: 0.89 (AQ_t 0.48 / 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: -3.75 (Cap -4..+1) = AAA

What is the price of STEP shares?

As of March 06, 2026, the stock is trading at USD 47.62 with a total of 1,175,337 shares traded.
Over the past week, the price has changed by +1.97%, over one month by -19.04%, over three months by -23.78% and over the past year by -14.45%.

Is STEP a buy, sell or hold?

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

What are the forecasts/targets for the STEP price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	81.4	71%
Analysts Target Price	81.4	71%

STEP Fundamental Data Overview March 03, 2026

P/E Forward = 16.5837
P/S = 3.0247
P/B = 31.7208
Revenue TTM = 1.78b USD
EBIT TTM = -883.0m USD
EBITDA TTM = -837.3m USD
Long Term Debt = 270.2m USD (from longTermDebt, last quarter)
Short Term Debt = 269.3m USD (from shortTermDebt, last fiscal year)
Debt = 376.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -709.0k USD (from netDebt column, last quarter)
Enterprise Value = 5.39b USD (5.39b + Debt 376.7m - CCE 377.5m)
Interest Coverage Ratio = -51.12 (Ebit TTM -883.0m / Interest Expense TTM 17.3m)
EV/FCF = 289.3x (Enterprise Value 5.39b / FCF TTM 18.6m)
FCF Yield = 0.35% (FCF TTM 18.6m / Enterprise Value 5.39b)
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 = 1.03 (Enterprise Value 5.39b / Total Assets 5.24b)
Interest Expense / Debt = 1.36% (Interest Expense 5.12m / Debt 376.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = -697.5m (EBIT -883.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.36 (Total Current Assets 2.63b / Total Current Liabilities 1.94b)
Debt / Equity = -0.99 (negative equity) (Debt 376.7m / totalStockholderEquity, last quarter -378.8m)
Debt / EBITDA = 0.00 (negative EBITDA) (Net Debt -709.0k / EBITDA -837.3m)
Debt / FCF = -0.04 (Net Debt -709.0k / 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 = -440.4% (out of range, set to none) (EBIT -883.0m / Capital Employed (Equity -69.7m + L.T.Debt 270.2m))
RoIC = -348.7% (out of range, set to none) (NOPAT -697.5m / Invested Capital 200.0m)
WACC = 10.55% (E(5.39b)/V(5.77b) * Re(11.21%) + D(376.7m)/V(5.77b) * Rd(1.36%) * (1-Tc(0.21)))
Discount Rate = 11.21% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 11.37%
[DCF] Terminal Value 62.90% ; FCFF base≈65.5m ; Y1≈48.7m ; Y5≈28.5m
[DCF] Fair Price = 4.61 (EV 368.6m - Net Debt -709.0k = Equity 369.3m / Shares 80.1m; r=10.55% [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 | Chg7d=-0.010 | Chg30d=-0.008 | Revisions Net=-2 | Analysts=5
EPS next Year (2027-03-31): EPS=2.62 | Chg7d=+0.133 | Chg30d=+0.082 | Revisions Net=-2 | Growth EPS=+23.3% | Growth Revenue=+15.4%
[Analyst] Revisions Ratio: -0.33 (2 Up / 4 Down within 30d for Next Quarter)

Additional Sources for STEP Stock

Fund Manager Positions: Dataroma | Stockcircle