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STEP Financials Stepstone Group Inc.

8 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 20.4% per year over the past 5 years.
  • Free cash flow has declined 15.5% per year over the past 5 years.

Financial health

  • Total debt has grown slower than revenue (13.5% vs 20.4% per year).

Shareholder returns

  • Dividends have been paid for 6 consecutive years, consuming 184.4% of free cash flow.
  • The dividend has grown 124.9% per year over the past 5 years.
Revenue & net income
-$536M $729M $2B $0 2019 2020 2021 2022 2023 2024 2025 2026
RevenueNet income
Margins (gross / operating / net)
-27% 0% 27% 0% 2019 2020 2021 2022 2023 2024 2025 2026
GrossOperatingNet
Free cash flow (CFO − capex)
$0 $106M $212M 2019 2020 2021 2022 2023 2024 2025 2026
Free cash flow
Cash vs total debt
$0 $560M $1B 2019 2020 2021 2022 2023 2024 2025 2026
CashTotal debt
Cash flow: operating / investing / financing
-$210M $261M $733M $0 2019 2020 2021 2022 2023 2024 2025 2026
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2026 $2.0B -$536M 0.0% 0.0% $64M $1.1B
2025 $1.2B -$180M 0.0% 0.0% $60M $269M $290M
2024 $712M $58M 0.0% 0.0% $142M $149M $182M
2023 -$68M -$18M 0.0% 0.0% $146M $98M $130M
2022 $1.4B $194M 0.0% 0.0% $212M $63M $117M
2021 $788M $63M 0.0% 0.0% $148M $0 $184M
2020 $447M $0 0.0% 0.0% $65M $143M $90M
2019 $256M $0 0.0% 0.0% $48M $41M

Valuation over time

How the market has priced STEP against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 44.8 89.5 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Price / sales (P/S)
0.0 3.7 7.3 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/S
Dividend yield (%)
0.0 1.8 3.7 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is STEP growing its revenue and profit?

Over the past 5 years, Stepstone Group Inc.'s revenue has grown 20.4% per year. These are computed facts, not advice.

How much debt does STEP have?

As of FY2026, Stepstone Group Inc. reported — of total debt against $1.1B of cash.

What is STEP's profit margin?

In FY2026, gross margin was —, operating margin —, and net margin -26.9%.

What is STEP's P/E ratio?

As of Jun '26, Stepstone Group Inc. traded at a price-to-earnings ratio of about 81.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.