STEP Stock Analysis: Stepstone | NASDAQ
Asset Management | NASDAQ, USA | Market Cap: 5.726m USD | 12M Return: -27.4% | US85914M1071 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 50.3M
EPS Trend: 95.5%
Qual. Beats: 0
Rev. Trend: 98.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
StepStone Group Inc. (NASDAQ: STEP) is a global private equity and venture capital firm founded in 2007 and headquartered in New York. It invests across multiple strategies, including primary fund commitments, direct investments, fund-of-funds, and secondary transactions (both direct and indirect), with a global focus spanning the United States, Europe, Asia, the Americas, and select emerging markets.
The firm targets a broad range of investment stages-from seed and early venture through growth capital, mezzanine, distressed, and buyout-across sectors such as technology, healthcare, financials, infrastructure, real estate, energy, consumer, and industrials. It allocates between 5% and 40% of its investments to emerging markets and considers both minority and majority equity stakes, co-investments, and follow-on opportunities.
As an asset manager in the Financials sector, StepStone operates in the private markets industry, which typically generates revenue through management fees on committed or invested capital and performance-based fees (such as carried interest) tied to investment returns. The firm went public in September 2020 and maintains additional offices across North America, South America, Europe, Asia, and Australia.
- Fee-related earnings expand as AUM scales past $200B
- Private wealth channel fuels retail and advisor net inflows
- Capital return accelerates through buybacks and dividend hikes
| Net Income: -613.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA -1.76 > 1.0 |
| NWC/Revenue: -98.29% < 20% (prev -0.10%; Δ -98.19% < -1%) |
| CFO/TA -0.06 > 3% & CFO -437.3m > Net Income -613.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.14 > 1.5 & < 3 |
| Outstanding Shares: last quarter (82.0m) vs 12m ago 5.33% < -2% |
| Gross Margin: 50.29% > 18% (prev -0.43%; Δ 50.72% > 0.5%) |
| Asset Turnover: 32.00% > 50% (prev 28.29%; Δ 3.72% > 0%) |
| Interest Coverage Ratio: -63.87 > 6 (EBIT TTM -1.17b / Interest Expense TTM 18.3m) |
| A: -0.25 (Total Current Assets 311.5m - Total Current Liabilities 2.29b) / Total Assets 7.77b |
| B: -0.14 (Retained Earnings -1.08b / Total Assets 7.77b) |
| C: -0.19 (EBIT TTM -1.17b / Avg Total Assets 6.28b) |
| D: -0.08 (Book Value of Equity -539.2m / Total Liabilities 6.53b) |
| Altman-Z'' = -3.46 = D |
| DSRI: 0.10 (Receivables 109.7m/1.78b, Revenue 2.01b/1.35b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.70 (AQ_t 0.95 / AQ_t-1 0.56) |
| SGI: 1.48 (Revenue 2.01b / 1.35b) |
| TATA: -0.02 (NI -613.2m - CFO -437.3m) / TA 7.77b) |
| Beneish M = -3.01 (Cap -4..+1) = AA |
As of October 06, 2026, the stock is trading at USD 45.27 with a total of 1,168,245 shares traded. Over the past week, the price has changed by +2.05%, over one month by -10.36%, over three months by +10.79% and over the past year by -27.44%.
Current recommended Stop Loss: 42.50 (which is 6.1% or 1.4 ATR below the current price).
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 | 69.6 | 53.7% |
P/E Forward = 18.5185
P/S = 2.8514
P/B = 33.0017
Revenue TTM = 2.01b USD
EBIT TTM = -1.17b USD
EBITDA TTM = -1.12b USD
Long Term Debt = 1.35b USD (from longTermDebt, last quarter)
Short Term Debt = 12.7m USD (from shortTermDebt, last quarter)
Debt = 1.68b USD (from shortLongTermDebtTotal, last quarter) + Leases 116.5m
Net Debt = 1.48b USD (calculated: Debt 1.68b - CCE 201.2m)
Enterprise Value = 7.21b USD (5.73b + Debt 1.68b - CCE 201.2m)
Interest Coverage Ratio = -63.87 (Ebit TTM -1.17b / Interest Expense TTM 18.3m)
EV/FCF = 8.28x (Enterprise Value 7.21b / FCF TTM 870.7m)
FCF Yield = 12.08% (FCF TTM 870.7m / Enterprise Value 7.21b)
FCF Margin = 43.36% (FCF TTM 870.7m / Revenue TTM 2.01b)
Net Margin = -30.53% (Net Income TTM -613.2m / Revenue TTM 2.01b)
Gross Margin = 50.29% ((Revenue TTM 2.01b - Cost of Revenue TTM 998.2m) / Revenue TTM)
Gross Margin QoQ = 43.80% (prev 57.57%)
Tobins Q-Ratio = 0.93 (Enterprise Value 7.21b / Total Assets 7.77b)
Interest Expense / Debt = 1.09% (Interest Expense 18.3m / Debt 1.68b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -923.6m (EBIT -1.17b * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.13 (Total Current Assets 311.5m / Total Current Liabilities 2.37b)
Debt / Equity = -3.12 (negative equity) (Debt 1.68b / totalStockholderEquity, last quarter -539.2m)
Debt / EBITDA = -1.32 (negative EBITDA) (Net Debt 1.48b / EBITDA -1.12b)
Debt / FCF = 1.70 (Net Debt 1.48b / FCF TTM 870.7m)
Total Stockholder Equity = -391.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -9.77% (Net Income -613.2m / Total Assets 7.77b)
RoE = 156.7% (negative equity) (Net Income TTM -613.2m / Total Stockholder Equity -391.3m)
RoCE = -121.7% (out of range, set to none) (EBIT -1.17b / Capital Employed (Equity -391.3m + L.T.Debt 1.35b))
RoIC = -12.05% (negative operating profit) (NOPAT -923.6m / Invested Capital 7.67b)
WACC = 9.54% (E(5.73b)/V(7.41b) * Re(12.09%) + D(1.68b)/V(7.41b) * Rd(1.09%) * (1-Tc(0.21)))
Discount Rate = 12.09% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 97.77 | Cagr: 9.19%
[DCF] Terminal Value 74.22% ; FCFF base≈770.5m ; Y1≈883.3m ; Y5≈1.30b
[DCF] Fair Price = 178.6 (EV 16.2b - Net Debt 1.48b = Equity 14.7b / Shares 82.3m; r=9.54% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 95.52 | EPS CAGR: 34.65% | SUE: -0.33 | # QB: 0
Revenue Correlation: 98.75 | Revenue CAGR: 70.80% | SUE: 0.31 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.58 | Chg30d=+0.30% | Revisions=+38% | Analysts=5
EPS next Quarter (2026-12-31): EPS=0.73 | Chg30d=-8.83% | Revisions=+38% | Analysts=5
EPS current Year (2027-03-31): EPS=2.48 | Chg30d=+0.19% | Revisions=+22% | GrowthEPS=+14.8% | GrowthRev=+18.7%
EPS next Year (2028-03-31): EPS=3.41 | Chg30d=-2.01% | Revisions=+50% | GrowthEPS=+37.3% | GrowthRev=+20.4%
[Analyst] Revisions Ratio: +50% (up=18, down=5)