STEP - StepStone Group Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$66.80
DETAILS
HIGH:
$85.00
LOW:
$55.00
MEDIAN:
$62.00
CONSENSUS:
$66.80
UPSIDE:
57.14%
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||
| Revenue | 1,993.6 | 1,174.8 | 711.6 | (67.6) | 1,365.5 | 787.7 | 446.6 | 256.3 | 264.3 | 163.1 |
| Cost of Revenue | 977.0 | 1,264.3 | 330.2 | (239.2) | 788.7 | 403.2 | 240.4 | 139.8 | 146.7 | 146.7 |
| Gross Profit | 1,016.6 | (89.5) | 381.4 | 171.6 | 576.8 | 384.6 | 206.2 | 116.5 | 117.6 | 16.4 |
| Operating Expenses | ||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 2,040.0 | 161.3 | 209.7 | 172.1 | 124.5 | 56.4 | 54.3 | 50.0 | 36.0 | 36.0 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 |
| Operating Expenses | 2,040.0 | 161.3 | 209.7 | 172.1 | 124.5 | 56.4 | 54.3 | 50.0 | 36.0 | 36.0 |
| Operating Income | ||||||||||
| Operating Income | (1,023.4) | (250.7) | 171.8 | (0.5) | 452.4 | 328.2 | 151.9 | 66.4 | 81.5 | 44.0 |
| Interest Expense | 18.5 | 12.7 | 9.3 | 4.2 | 1.1 | 7.4 | 10.2 | 10.3 | 0.9 | 0.9 |
| Interest Income | 11.8 | 10.8 | 3.7 | 1.9 | 0.3 | 0.4 | 1.4 | 1.5 | 0.1 | 0.1 |
| Profitability | ||||||||||
| EBITDA | (883.5) | (205.2) | 252.3 | 10.2 | 540.7 | 350.7 | 166.0 | 79.7 | 91.0 | 46.9 |
| EBIT | (917.8) | (250.7) | 204.7 | (37.3) | 513.7 | 345.2 | 159.0 | 71.9 | 86.7 | 44.0 |
| Income Before Tax | (891.2) | (222.0) | 195.4 | (41.5) | 512.6 | 337.8 | 148.7 | 61.6 | 85.8 | 43.3 |
| Income Tax Expense | (147.9) | (49.2) | 27.6 | 3.8 | 28.3 | 23.3 | 4.0 | 1.6 | 2.0 | 2.0 |
| Net Income | (521.4) | (179.6) | 58.1 | (18.4) | 193.9 | 62.6 | 0 | 0 | 81.4 | 81.4 |
| Per Share Data | ||||||||||
| EPS (Basic) | -6.80 | -2.52 | 0.92 | -0.30 | 3.89 | 2.11 | 4.51 | 2.25 | 3.06 | 3.06 |
| EPS (Diluted) | -6.70 | -2.52 | 0.91 | -0.30 | 3.84 | 2.06 | 4.51 | 2.25 | 3.06 | 3.06 |
| Shares Outstanding | 80.3 | 71.1 | 63.5 | 61.9 | 49.8 | 29.7 | 26.6 | 29.2 | 29.2 | 29.2 |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||
| Cash & Cash Equivalents | 1,118.4 | 289.3 | 181.6 | 128.6 | 116.4 | 179.9 | 89.9 | 40.6 | 106.3 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 2,283.3 | 1,669.3 | 1,478.4 | 1,325.9 | 1,534.0 | 936.1 | 495.6 | 325.6 | 291.7 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0.6 | 0.5 | 0.7 | 1.0 | 1.1 | 4.0 | 0 | 0 | 2.7 |
| Total Current Assets | 3,402.3 | 1,959.1 | 1,660.7 | 1,455.5 | 1,651.5 | 1,120.0 | 585.6 | 366.2 | 398.0 |
| Non-Current Assets | |||||||||
| Property, Plant & Equipment | 107.9 | 121.6 | 127.3 | 117.0 | 61.1 | 10.2 | 0 | 0 | 5.4 |
| Goodwill | 580.5 | 580.5 | 580.5 | 580.5 | 580.5 | 6.8 | 6.8 | 6.8 | 5.8 |
| Intangible Assets | 223.0 | 263.9 | 304.9 | 354.6 | 398.1 | 5.5 | 8.8 | 13.9 | 10.8 |
| Long-Term Investments | 1,717.6 | 1,227.9 | 898.1 | 916.4 | 1,441.6 | 74.4 | 53.4 | 86.7 | 35.5 |
| Other Non-Current Assets | 116.6 | 50.8 | 32.8 | 29.0 | 27.4 | 14.5 | 25.5 | 18.2 | 9.9 |
| Total Non-Current Assets | 3,360.4 | 2,627.6 | 2,128.1 | 2,041.9 | 2,536.7 | 200.8 | 95.2 | 125.5 | 67.3 |
| Total Assets | 6,762.7 | 4,586.7 | 3,788.8 | 3,497.4 | 4,188.1 | 1,320.8 | 680.8 | 491.7 | 465.3 |
| Current Liabilities | |||||||||
| Account Payables | 102.7 | 89.7 | 127.4 | 89.4 | 80.5 | 47.7 | 36.2 | 35.0 | 18.2 |
| Short-Term Debt | 100 | 269.3 | 148.8 | 98.4 | 62.9 | 0 | 0 | 17.0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (17.0) | 0.5 |
| Total Current Liabilities | 2,285.3 | 1,944.5 | 1,692.8 | 1,655.7 | 2,246.4 | 626.9 | 277.5 | 187.3 | 174.8 |
| Non-Current Liabilities | |||||||||
| Long-Term Debt | 1,101.8 | 0 | 0 | 0 | 0 | 0 | 143.1 | 143.9 | 144.5 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 2,386.0 | 754.3 | 103.1 | 67.2 | 46.4 | 34.2 | 23.2 | 14.9 | 8.4 |
| Total Non-Current Liabilities | 3,591.4 | 867.8 | 222.9 | 188.4 | 117.4 | 34.2 | 166.3 | 158.7 | 152.9 |
| Total Liabilities | 5,876.7 | 2,812.3 | 1,915.7 | 1,844.1 | 2,363.8 | 661.1 | 443.9 | 346.1 | 327.7 |
| Stockholders' Equity | |||||||||
| Common Stock | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 216.1 | 128.4 | 121.2 |
| Retained Earnings | (896.9) | (242.5) | 13.8 | 160.4 | 229.6 | 60.4 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 1.1 | 0.7 | 0.3 | 0.5 | 0.7 | 0.2 | 0.2 | 0.3 | 137.6 |
| Total Stockholders' Equity | (413.6) | 179.4 | 324.5 | 771.6 | 817.6 | 249.4 | 216.2 | 128.7 | 465.3 |
| Total Liabilities & Equity | 6,762.7 | 4,586.7 | 3,788.8 | 3,497.4 | 4,188.1 | 1,320.8 | 680.8 | 491.7 | 144.5 |
| Debt Metrics | |||||||||
| Total Debt | 1,305.4 | 382.8 | 268.6 | 219.6 | 133.8 | 0 | 143.1 | 160.8 | 9.9 |
| Net Debt | 186.9 | 93.5 | 87.0 | 91.0 | 17.5 | (179.9) | 53.2 | 120.2 | (96.4) |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | (521.4) | (172.8) | 58.1 | (45.3) | 484.3 | 314.6 | 144.8 | 60.0 | 83.8 | 40.3 |
| Depreciation & Amortization | 45.7 | 45.5 | 47.6 | 47.4 | 27.0 | 5.5 | 7.1 | 7.9 | 4.3 | 3.0 |
| Stock-Based Compensation | 342.0 | 650.1 | 74.7 | 24.9 | 14.0 | 7.9 | 1.9 | 1.7 | 0.2 | 0.6 |
| Change in Working Capital | (0.7) | (19.8) | 18.9 | (32.8) | (8.6) | 29.2 | (6.4) | (1.7) | 59.1 | 36.4 |
| Other Non-Cash Items | 395.8 | (363.0) | (46.9) | 169.5 | (308.6) | (223.9) | (81.5) | (16.4) | (93.8) | (30.1) |
| Operating Cash Flow | 66.5 | 64.9 | 161.5 | 151.2 | 214.3 | 149.3 | 65.9 | 51.5 | 53.6 | 47.5 |
| Investing Activities | ||||||||||
| Capital Expenditure | (2.6) | (5.1) | (19.6) | (5.6) | (2.1) | (1.3) | (0.8) | (3.0) | (3.4) | (0.4) |
| Acquisitions | 0 | (19.6) | 0 | (13.4) | (181.5) | 0 | 0 | (9.0) | 0 | 0 |
| Purchases of Investments | (391.8) | (58.6) | (113.0) | (21.6) | (39.6) | (14.0) | (40.2) | (100.6) | (5.9) | (8.6) |
| Sales/Maturities of Investments | 7.0 | 0 | 67.4 | 0 | 0 | 0 | 71.3 | 46.5 | 0 | 0 |
| Other Investing Activities | 1,120.3 | 39.8 | 17.9 | 9.8 | 13.0 | 4.1 | 5.5 | 4.2 | 2.7 | 0 |
| Investing Cash Flow | 732.9 | (43.5) | (47.3) | (30.8) | (210.2) | (11.2) | 35.8 | (61.9) | (6.6) | (9.0) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0 | 125.0 | 50 | 35 | 65 | (147) | (1.5) | (1.5) | 135.8 | 4.2 |
| Stock Repurchased | (8.7) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | (117.8) | (75.8) | (68.5) | (50.0) | (23.9) | (2.0) | 0 | 0 | (88.4) | (23.7) |
| Other Financing Activities | 158.9 | 16.2 | (52.0) | (93.0) | (111.6) | (234.1) | (50.7) | (54.2) | (8.8) | (3.6) |
| Financing Cash Flow | 37.4 | 87.5 | (58.0) | (108.0) | (70.4) | (45.3) | (52.2) | (55.5) | 38.8 | (22.8) |
| Cash Position | ||||||||||
| Net Change in Cash | 829.2 | 107.5 | 52.8 | 12.1 | (66.4) | 93.9 | 49.3 | (65.7) | 85.9 | 16.0 |
| Cash at Beginning | 289.8 | 182.3 | 129.5 | 117.4 | 183.9 | 89.9 | 40.6 | 106.3 | 20.4 | 4.4 |
| Cash at End | 1,119.0 | 289.8 | 182.3 | 129.5 | 117.4 | 183.9 | 89.9 | 40.6 | 106.3 | 20.4 |
| Free Cash Flow | 63.9 | 59.8 | 141.9 | 145.6 | 212.2 | 148.0 | 65.1 | 48.4 | 50.2 | 47.1 |
| Key Metrics | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||
| Revenue | 1,993.6 | 1,174.8 | 711.6 | (67.6) | 1,365.5 | 787.7 | 446.6 | 256.3 | 264.3 | 163.1 |
| Gross Profit | 1,016.6 | (89.5) | 381.4 | 171.6 | 576.8 | 384.6 | 206.2 | 116.5 | 117.6 | 16.4 |
| Operating Income | (1,023.4) | (250.7) | 171.8 | (0.5) | 452.4 | 328.2 | 151.9 | 66.4 | 81.5 | 44.0 |
| Net Income | (521.4) | (179.6) | 58.1 | (18.4) | 193.9 | 62.6 | 0 | 0 | 81.4 | 81.4 |
| EPS (Diluted) | -6.70 | -2.52 | 0.91 | -0.30 | 3.84 | 2.06 | 4.51 | 2.25 | 3.06 | 3.06 |
| Balance Sheet | ||||||||||
| Cash & Equivalents | 1,118.4 | 289.3 | 181.6 | 128.6 | 116.4 | 179.9 | 89.9 | 40.6 | 106.3 | |
| Total Assets | 6,762.7 | 4,586.7 | 3,788.8 | 3,497.4 | 4,188.1 | 1,320.8 | 680.8 | 491.7 | 465.3 | |
| Total Debt | 1,305.4 | 382.8 | 268.6 | 219.6 | 133.8 | 0 | 143.1 | 160.8 | 9.9 | |
| Stockholders' Equity | (413.6) | 179.4 | 324.5 | 771.6 | 817.6 | 249.4 | 216.2 | 128.7 | 465.3 | |
| Cash Flow | ||||||||||
| Operating Cash Flow | 66.5 | 64.9 | 161.5 | 151.2 | 214.3 | 149.3 | 65.9 | 51.5 | 53.6 | 47.5 |
| Capital Expenditure | (2.6) | (5.1) | (19.6) | (5.6) | (2.1) | (1.3) | (0.8) | (3.0) | (3.4) | (0.4) |
| Free Cash Flow | 63.9 | 59.8 | 141.9 | 145.6 | 212.2 | 148.0 | 65.1 | 48.4 | 50.2 | 47.1 |