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
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
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
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$589M
-$8M
0.0%
0.0%
-$24M
—
$1.1B
Dec '25
$587M
-$123M
0.0%
0.0%
$27M
$270M
$378M
Sep '25
$454M
-$366M
0.0%
0.0%
$16M
$270M
$367M
Jun '25
$364M
-$38M
0.0%
0.0%
$45M
$270M
$245M
Mar '25
$378M
-$19M
0.0%
0.0%
-$69M
$269M
$290M
Dec '24
$339M
-$192M
0.0%
0.0%
$27M
$169M
$280M
Sep '24
$272M
$18M
0.0%
0.0%
$52M
$172M
$225M
Jun '24
$186M
$13M
0.0%
0.0%
$50M
$172M
$196M
Mar '24
$357M
$31M
0.0%
0.0%
$7M
$149M
$182M
Dec '23
-$15M
-$20M
0.0%
0.0%
$21M
$124M
$174M
Sep '23
$191M
$26M
0.0%
0.0%
$64M
$124M
$177M
Jun '23
$178M
$21M
0.0%
0.0%
$50M
$98M
$128M
Mar '23
$172M
$29M
0.0%
0.0%
-$3M
$98M
$130M
Dec '22
-$4M
-$7M
0.0%
0.0%
$5M
$83M
$141M
Sep '22
-$158M
-$29M
0.0%
0.0%
$86M
$63M
$144M
Jun '22
-$77M
-$11M
0.0%
0.0%
$57M
$63M
$107M
Mar '22
$365M
$42M
0.0%
0.0%
$32M
$63M
$117M
Dec '21
$410M
$48M
0.0%
0.0%
$46M
$63M
$137M
Sep '21
$282M
$62M
0.0%
0.0%
$60M
$113M
$176M
Jun '21
$309M
$42M
0.0%
0.0%
$75M
—
$223M
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.
The price-to-earnings ratio has risen from 49.1× (Apr '24) to 81.8× (Feb '25).
The price-to-sales ratio has fallen from 4.0× (Apr '24) to 1.6× (Jun '26).
The dividend yield has risen from 2.6% (Mar '23) to 3.7% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
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.