(STEP) Stepstone - Overview
Sector: Financial Services | Industry: Asset Management | Exchange: NASDAQ (USA) | Market Cap: 6.167m USD | Total Return: -20.6% in 12m
Avg Turnover: 59.0M
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: 0.01 > 0.02 and ΔFCF/TA -0.36 > 1.0 |
| NWC/Revenue: -46.14% < 20% (prev 1.24%; Δ -47.38% < -1%) |
| CFO/TA 0.01 > 3% & CFO 66.5m > Net Income -535.8m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.60 > 1.5 & < 3 |
| Outstanding Shares: last quarter (80.3m) vs 12m ago 5.69% < -2% |
| Gross Margin: 51.00% > 18% (prev -7.68%; Δ 58.68% > 0.5%) |
| Asset Turnover: 35.13% > 50% (prev 25.61%; Δ 9.52% > 0%) |
| Interest Coverage Ratio: -45.31 > 6 (EBIT TTM -838.4m / Interest Expense TTM 18.5m) |
| A: -0.14 (Total Current Assets 1.37b - Total Current Liabilities 2.29b) / Total Assets 6.76b |
| B: -0.13 (Retained Earnings -896.9m / Total Assets 6.76b) |
| C: -0.15 (EBIT TTM -838.4m / Avg Total Assets 5.67b) |
| D: -0.07 (Book Value of Equity -413.6m / Total Liabilities 5.88b) |
| Altman-Z'' = -2.39 = D |
| DSRI: 0.09 (Receivables 246.4m/1.67b, Revenue 1.99b/1.17b) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.44 (AQ_t 0.79 / AQ_t-1 0.55) |
| SGI: 1.70 (Revenue 1.99b / 1.17b) |
| TATA: -0.09 (NI -535.8m - CFO 66.5m) / TA 6.76b) |
| Beneish M = -3.03 (Cap -4..+1) = AA |
As of June 08, 2026, the stock is trading at USD 44.91 with a total of 938,204 shares traded.
Over the past week, the price has changed by -8.92%,
over one month by -17.11%,
over three months by -0.75% and
over the past year by -20.56%.
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 | 72.5 | 61.4% |
P/E Forward = 20.1207
P/S = 3.0933
P/B = 33.0017
Revenue TTM = 1.99b USD
EBIT TTM = -838.4m USD
EBITDA TTM = -792.6m USD
Long Term Debt = 1.10b USD (from longTermDebt, last quarter)
Short Term Debt = 100.0m USD (from shortLongTermDebt, last quarter)
Debt = 1.41b USD (from shortLongTermDebtTotal, last quarter) + Leases 103.6m
Net Debt = 290.0m USD (calculated: Debt 1.41b - CCE 1.12b)
Enterprise Value = 6.46b USD (6.17b + Debt 1.41b - CCE 1.12b)
Interest Coverage Ratio = -45.31 (Ebit TTM -838.4m / Interest Expense TTM 18.5m)
EV/FCF = 101.1x (Enterprise Value 6.46b / FCF TTM 63.9m)
FCF Yield = 0.99% (FCF TTM 63.9m / Enterprise Value 6.46b)
FCF Margin = 3.20% (FCF TTM 63.9m / Revenue TTM 1.99b)
Net Margin = -26.88% (Net Income TTM -535.8m / Revenue TTM 1.99b)
Gross Margin = 51.00% ((Revenue TTM 1.99b - Cost of Revenue TTM 977.0m) / Revenue TTM)
Gross Margin QoQ = 57.57% (prev 50.84%)
Tobins Q-Ratio = 0.95 (Enterprise Value 6.46b / Total Assets 6.76b)
Interest Expense / Debt = 1.31% (Interest Expense 18.5m / Debt 1.41b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -662.3m (EBIT -838.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.60 (Total Current Assets 1.37b / Total Current Liabilities 2.29b)
Debt / Equity = -3.41 (negative equity) (Debt 1.41b / totalStockholderEquity, last quarter -413.6m)
Debt / EBITDA = -0.37 (negative EBITDA) (Net Debt 290.0m / EBITDA -792.6m)
Debt / FCF = 4.54 (Net Debt 290.0m / FCF TTM 63.9m)
Total Stockholder Equity = -218.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -9.44% (Net Income -535.8m / Total Assets 6.76b)
RoE = 245.8% (negative equity) (Net Income TTM -535.8m / Total Stockholder Equity -218.0m)
RoCE = -94.86% (EBIT -838.4m / Capital Employed (Equity -218.0m + L.T.Debt 1.10b))
RoIC = -15.13% (negative operating profit) (NOPAT -662.3m / Invested Capital 4.38b)
WACC = 9.78% (E(6.17b)/V(7.58b) * Re(11.78%) + D(1.41b)/V(7.58b) * Rd(1.31%) * (1-Tc(0.21)))
Discount Rate = 11.78% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 10.56%
[DCF] Terminal Value 71.55% ; FCFF base≈62.2m ; Y1≈66.0m ; Y5≈77.9m
[DCF] Fair Price = 8.32 (EV 961.6m - Net Debt 290.0m = Equity 671.6m / Shares 80.7m; r=9.78% [WACC]; 5y FCF grow 6.74% → 2.50% )
EPS Correlation: 96.72 | EPS CAGR: 36.48% | SUE: 0.79 | # QB: 0
Revenue Correlation: 94.05 | Revenue CAGR: 99.31% | SUE: 4.0 | # QB: 5
EPS current Quarter (2026-06-30): EPS=0.53 | Chg30d=-2.80% | Revisions=+0% | Analysts=7
EPS next Quarter (2026-09-30): EPS=0.60 | Chg30d=-3.10% | Revisions=+25% | Analysts=7
EPS current Year (2027-03-31): EPS=2.50 | Chg30d=-0.42% | Revisions=+9% | GrowthEPS=+15.6% | GrowthRev=+18.0%
EPS next Year (2028-03-31): EPS=3.31 | Chg30d=-1.63% | Revisions=+14% | GrowthEPS=+32.8% | GrowthRev=+13.9%
[Analyst] Revisions Ratio: +25%