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StepStone Group Inc.

STEPFinancial ServicesNASDAQ

Asset Management · Last scanned May 30, 2026

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Financials · Annual
Revenue
$1.99B
+69.7% YoY
Net Income
-$535.8M
-198.4% YoY
EBITDA
-$826.9M
-404.7% YoY
Free Cash Flow
$2.63B

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About StepStone Group Inc.

StepStone Group Inc. is a private equity and venture capital firm specializing in primary, direct, fund of funds, secondary direct, and secondary indirect investments. The company carries a $6.17B market cap, placing it firmly in the mid-cap category. For direct investment, it seeks to invest in private debt, venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, buyout investments in mature and middle market companies.

Key stats
Market Cap$6.17B
Fwd P/E14.88
EPS$-6.78
Beta1.33
52W Change-15.1%
Dividend Yield3.39%
ROE-55.9%
Analysis

The company holds $1.12B in cash, though total debt stands at $1.31B. This level of leverage is common in the industry but worth monitoring as interest rate conditions evolve. Free cash flow comes in at $2.63B, providing flexibility for reinvestment, buybacks, or dividends. Consistent free cash flow generation is often considered a sign of operational health. Return on equity stands at -55.9%, which is negative for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. Revenue has grown from $1.37B (2022) to $1.99B (2026), reflecting a 46% increase over the period.

As with any equity investment, STEP carries market risk, sector-specific risk, and company-specific risk that investors should evaluate in the context of their own portfolios. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence StepStone Group Inc.'s trajectory.

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