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StepStone Group Inc.

STEP Clue Score36
United States Fiscal year ends March CIK 0001796022
$44.10 +0.43% Close, 9 Oct 2026
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Price $44.10 +6.34% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 16 Sep 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2019Revenue256.3Net income0.0Fiscal year 2020Revenue446.6 +74.3%Net income0.0Fiscal year 2021Revenue787.7 +76.4%Net income62.6EPS, diluted2.06Fiscal year 2022Revenue1,365.5 +73.4%Net income193.9 +209.6%EPS, diluted3.84Fiscal year 2023Revenue−67.6 −104.9%Net income−18.4 −109.5%EPS, diluted−0.30Fiscal year 2024Revenue711.6Net income58.1EPS, diluted0.91Fiscal year 2025Revenue1,174.8 +65.1%Net income−179.6 −409.1%EPS, diluted−2.52Fiscal year 2026Revenue1,993.6 +69.7%Net income−535.8EPS, diluted−6.78
FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 256.3 446.6 787.7 1,365.5 −67.6 711.6 1,174.8 1,993.6
Growth +74.3% +76.4% +73.4% −104.9% +65.1% +69.7%
Net income 0.0 0.0 62.6 193.9 −18.4 58.1 −179.6 −535.8
Growth +209.6% −109.5% −409.1%
EPS, diluted n/a n/a 2.06 3.84 −0.30 0.91 −2.52 −6.78

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Net margin
Fiscal year 2019Net margin0.0%Free cash flow margin18.9%Fiscal year 2020Net margin0.0%Free cash flow margin14.6%Fiscal year 2021Net margin8.0%Free cash flow margin18.8%Fiscal year 2022Net margin14.2%Free cash flow margin15.5%Fiscal year 2023Net margin27.2%Free cash flow margin−215.4%Fiscal year 2024Net margin8.2%Free cash flow margin19.9%Fiscal year 2025Net margin−15.3%Free cash flow margin5.1%Fiscal year 2026Net margin−26.9%Free cash flow margin3.2%
FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Net margin 0.0% 0.0% 8.0% 14.2% 27.2% 8.2% −15.3% −26.9%
Free cash flow margin 18.9% 14.6% 18.8% 15.5% −215.4% 19.9% 5.1% 3.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2019Operating cash flow51.5Capital expenditure−3.0Free cash flow48.4Dividends paid0.0Fiscal year 2020Operating cash flow65.9Capital expenditure−0.8Free cash flow65.1 +34.5%Dividends paid0.0Fiscal year 2021Operating cash flow149.3Capital expenditure−1.3Free cash flow148.0 +127.4%Dividends paid−2.0Fiscal year 2022Operating cash flow214.3Capital expenditure−2.1Free cash flow212.2 +43.3%Dividends paid−23.9Fiscal year 2023Operating cash flow151.2Capital expenditure−5.6Free cash flow145.6 −31.4%Dividends paid−50.0Fiscal year 2024Operating cash flow161.5Capital expenditure−19.6Free cash flow141.9 −2.5%Buybacks0.0Dividends paid−68.5Fiscal year 2025Operating cash flow64.9Capital expenditure−5.1Free cash flow59.8 −57.8%Buybacks0.0Dividends paid−75.8Fiscal year 2026Operating cash flow66.5Capital expenditure−2.6Free cash flow63.9 +6.7%Buybacks−8.7Dividends paid−117.8
FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 51.5 65.9 149.3 214.3 151.2 161.5 64.9 66.5
Capital expenditure −3.0 −0.8 −1.3 −2.1 −5.6 −19.6 −5.1 −2.6
Free cash flow 48.4 65.1 148.0 212.2 145.6 141.9 59.8 63.9
Growth +34.5% +127.4% +43.3% −31.4% −2.5% −57.8% +6.7%
Buybacks n/a n/a n/a n/a n/a 0.0 0.0 −8.7
Dividends paid 0.0 0.0 −2.0 −23.9 −50.0 −68.5 −75.8 −117.8

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2019Cash40.6Fiscal year 2020Cash89.9Total debt143.1Net cash (debt)−53.2Fiscal year 2021Cash179.9Total debt0.0Net cash (debt)179.9Shareholders’ equity249.4Debt to equity0.00Fiscal year 2022Cash116.4Total debt62.9Net cash (debt)53.5Shareholders’ equity817.6Debt to equity0.08Fiscal year 2023Cash129.5Total debt98.4Net cash (debt)31.2Shareholders’ equity771.6Debt to equity0.13Fiscal year 2024Cash182.3Total debt148.8Net cash (debt)33.5Shareholders’ equity324.5Debt to equity0.46Fiscal year 2025Cash289.8Total debt269.3Net cash (debt)20.5Shareholders’ equity179.4Debt to equity1.50Fiscal year 2026Cash1,119.0Shareholders’ equity−413.6
FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 40.6 89.9 179.9 116.4 129.5 182.3 289.8 1,119.0
Total debt n/a 143.1 0.0 62.9 98.4 148.8 269.3 n/a
Net cash (debt) n/a −53.2 179.9 53.5 31.2 33.5 20.5 n/a
Shareholders’ equity n/a n/a 249.4 817.6 771.6 324.5 179.4 −413.6
Debt to equity n/a n/a 0.00 0.08 0.13 0.46 1.50 n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending March, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2019 31 Mar 2019 FY2020 31 Mar 2020 FY2021 31 Mar 2021 FY2022 31 Mar 2022 FY2023 31 Mar 2023 FY2024 31 Mar 2024 FY2025 31 Mar 2025 FY2026 31 Mar 2026
Margins
24.0% 33.3% 42.9% 37.5% 61.3% 27.5% −18.9% −44.7%
0.0% 0.0% 8.0% 14.2% 27.2% 8.2% −15.3% −26.9%
18.9% 14.6% 18.8% 15.5% −215.4% 19.9% 5.1% 3.2%
Spending
18.8% 11.7% 6.2% 8.1% −217.8% 23.5% 15.1% 9.4%
1.2% 0.2% 0.2% 0.2% −8.3% 2.8% 0.4% 0.1%
2.7% 2.7% 6.9% 5.5% n/a 14.1% n/a n/a
Returns
n/a n/a 25.1% 23.7% −2.4% 17.9% −100.1% n/a
n/a 0.0% 4.7% 4.6% −0.5% 1.5% −3.9% −7.9%
Balance and payout
n/a n/a 0.00 0.08 0.13 0.46 1.50 n/a
n/a 65.2% 50.1% 56.4% 52.7% 50.6% 61.3% 86.9%
n/a n/a 3.3% 12.3% n/a 117.9% n/a n/a
0.0% 0.0% 1.4% 11.3% 34.3% 48.3% 126.8% 198.1%