STEP Class A StepStone Group Inc. - Class A Common Stock
NASDAQ · Financial Services · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 7, 2026
$45.27
· of 52w range
· above low
· to high
$38.8552w low
$77.8052w high
P/E (TTM)
-5.9
EPS (TTM)
$-7.70
Revenue (TTM)
$2.01B
your badges
52W Range
$39–$78
Analyst Rating
BUY
Price Target
$70
P/E
-5.9
ROE
318.3%
Net Profit Margin
-30.5%
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STEP Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$45.27
P/E (TTM)
-5.9
EPS (TTM)
$-7.70
Revenue (TTM)
$2.01B
ROE (TTM)
318.3%
52W Range
$39–$78
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$1.99B2019-03-31 → 2026-03-31
EPS$-6.782021-03-31 → 2026-03-31
Free Cash Flow$64M2021-03-31 → 2026-03-31
Net margin-30.5%2021-03-31 → 2026-03-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | STEP | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -5.95Y avg ≈-12.2 | ≈-12.2 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | STEP | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| EBITDA Margin | 2.3%5Y avg ≈-11.1% | ≈-11.1% | 16.9% | Below avg | |
| Pretax Margin (TTM) | -53.3%5Y avg ≈12.6% | ≈12.6% | 39.5% | Weak | |
| Net Profit Margin (TTM) | -30.5%5Y avg ≈1.5% | ≈1.5% | 29.2% | Weak | |
| ROA (TTM) | -9.8%5Y avg ≈-1.1% | ≈-1.1% | 6.0% | Weak | |
| ROE (TTM) | 318.3%5Y avg ≈86.2% | ≈86.2% | 15.2% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | STEP | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 69.7%5Y avg ≈69.4% | ≈69.4% | · | · | |
| Revenue CAGR 3Y | -4.9% | · | · | · | |
| Revenue CAGR 5Y | 20.4% | · | · | · | |
| EPS CAGR 3Y | -23.8% | · | · | · | |
| Net Income CAGR 3Y | -2.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | STEP | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.3 | ≈0.3 | 0.4 | Weak | |
| Revenue / Employee | ≈$1.5M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Payout Ratio-22.0%
Annualized Payout≈$1.32
Growth Streak≈3
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 31, 2026 | $0.33 | USD | ≈3.3% |
| Jun 15, 2026 | $0.83 | USD | ≈3.5% |
| Feb 27, 2026 | $0.28 | USD | ≈3.4% |
| Nov 28, 2025 | $0.28 | USD | ≈2.3% |
| Aug 29, 2025 | $0.28 | USD | ≈2.3% |
| Jun 13, 2025 | $0.64 | USD | ≈2.5% |
| Feb 28, 2025 | $0.24 | USD | ≈1.8% |
| Nov 29, 2024 | $0.24 | USD | ≈1.6% |
| Aug 30, 2024 | $0.24 | USD | ≈1.9% |
| Jun 14, 2024 | $0.36 | USD | ≈2.3% |
| Feb 28, 2024 | $0.21 | USD | ≈3.1% |
| Nov 29, 2023 | $0.21 | USD | ≈4.2% |
| Aug 30, 2023 | $0.21 | USD | ≈3.4% |
| Jun 14, 2023 | $0.45 | USD | ≈4.3% |
| Feb 27, 2023 | $0.20 | USD | ≈2.8% |
| Nov 29, 2022 | $0.20 | USD | ≈2.6% |
| Aug 30, 2022 | $0.20 | USD | ≈2.6% |
| Jun 14, 2022 | $0.20 | USD | ≈2.5% |
| Feb 25, 2022 | $0.15 | USD | ≈1.3% |
| Nov 29, 2021 | $0.15 | USD | ≈0.85% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
10.1%
Next Report
Nov 04, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| Dec. 31, 2026 | May 20, 2026 | $0.57 | $0.52 | 9.6% |
| June 30, 2026 | $0.48 | $0.52 | -7.2% | |
| March 31, 2026 | $0.57 | $0.52 | 9.6% | |
| Dec. 31, 2025 | $0.65 | $0.60 | 7.8% | |
| Sept. 30, 2025 | $0.54 | $0.49 | 9.1% | |
| June 30, 2025 | $0.40 | $0.43 | -8.0% | |
| March 31, 2025 | $0.68 | $0.45 | 50.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.99B | $1.17B | $712M | $-68M | $1.37B | $788M | $447M | |
| SG&A Expense | $187M | $177M | $167M | $147M | $110M | $48M | $52M | |
| Operating Expenses | $3.02B | $1.44B | $540M | $-67M | $913M | $460M | $295M | |
| Interest Expense | · | · | $9M | $4M | $1M | $7M | $10M | |
| Interest Income | $12M | $11M | $4M | $2M | $337.0K | $413.0K | $1M | |
| Other Non-op | $697.0K | $-33M | $2M | $-1M | $2M | $220.0K | $-1M | |
| Pretax Income | $-891M | $-222M | $195M | $-41M | $513M | $338M | $149M | |
| Income Tax | $-148M | $-49M | $28M | $4M | $28M | $23M | $4M | |
| Net Income | $-536M | $-180M | $58M | $-18M | $194M | $63M | $0 | |
| EPS (Basic) | $-6.78 | $-2.52 | $0.91 | $-0.30 | $3.89 | $2.11 | · | |
| EPS (Diluted) | $-6.78 | $-2.52 | $0.91 | $-0.30 | $3.84 | $2.06 | · | |
| Shares (Basic) | 79,039,229 | 71,142,916 | 63,489,135 | 61,884,671 | 49,833,760 | 29,657,805 | · | |
| Shares (Diluted) | 79,039,229 | 71,142,916 | 66,544,038 | 61,884,671 | 53,600,250 | 33,274,804 | · | |
| EBITDA | $46M | $45M | $48M | $47M | $27M | $5M | · |
Balance Sheet
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | $116M | $180M | $90M | |
| PP&E (Net) | $26M | $30M | $30M | $16M | $13M | $10M | $11M | |
| PP&E (Gross) | $45M | $43M | $39M | $29M | $22M | $19M | $18M | |
| Accum. Depreciation | $18M | $13M | $10M | $13M | $9M | $9M | $7M | |
| Goodwill | $581M | $581M | $581M | $581M | $581M | $7M | $7M | |
| Intangibles | $223M | $264M | $305M | $355M | $398M | $5M | $9M | |
| Total Assets | $6.76B | $4.59B | $3.79B | $3.50B | $4.19B | $1.32B | $681M | |
| Total Liabilities | $5.88B | $2.81B | $1.92B | $1.84B | $2.36B | $661M | $444M | |
| Long-term Debt | · | $269M | $149M | $98M | $63M | $0 | $143M | |
| Paid-in Capital | $482M | $421M | $310M | $611M | $587M | $189M | · | |
| Retained Earnings | $-897M | $-243M | $14M | $160M | $230M | $60M | $0 | |
| AOCI | $1M | $728.0K | $304.0K | $461.0K | $658.0K | $155.0K | $178.0K | |
| Stockholders' Equity | $-414M | $179M | $324M | $772M | $818M | $249M | · | |
| Liabilities + Equity | $6.76B | $4.59B | $3.79B | $3.50B | $4.19B | $1.32B | $681M |
Cash Flow
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| D&A | $46M | $45M | $48M | $47M | $27M | $5M | $7M | |
| Stock-based Comp | $1.62B | $650M | $39M | $25M | $14M | $8M | $2M | |
| Deferred Tax | $-195M | $-75M | $9M | $-12M | $6M | $16M | $-171.0K | |
| Amort. of Intangibles | $41M | $41M | $42M | $44M | $24M | $3M | $5M | |
| Other Non-cash | $-866M | $-376M | $7M | $110M | $-26M | $57M | · | |
| Operating Cash Flow | $66M | $65M | $162M | $151M | $214M | $149M | $66M | |
| CapEx | $3M | $5M | $20M | $6M | $2M | $1M | $837.0K | |
| Investing Cash Flow | $733M | $-43M | $-47M | $-31M | $-210M | $-11M | $36M | |
| Net Debt Issued | · | · | · | · | · | $-147M | · | |
| Stock Issued | $4M | $3M | $0 | $0 | · | · | · | |
| Stock Repurchased | $9M | $0 | $0 | · | · | · | · | |
| Net Stock Activity | $-5M | $3M | · | · | · | · | · | |
| Dividends Paid | $118M | $76M | $68M | $50M | $24M | $2M | $0 | |
| Financing Cash Flow | $37M | $87M | $-58M | $-108M | $-70M | $-45M | $-52M | |
| Net Change in Cash | $829M | $107M | $53M | $12M | $-66M | $94M | $49M | |
| Taxes Paid | $42M | · | · | · | · | · | · | |
| Free Cash Flow | $64M | $60M | $142M | $146M | $212M | $148M | · | |
| Levered FCF | · | · | $134M | $141M | $211M | $141M | · |
Profitability
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -26.9% | -15.3% | 8.2% | 27.2% | 14.2% | 8.0% | · | |
| Pretax Margin | -44.7% | -18.9% | 27.5% | 61.4% | 37.5% | 42.9% | · | |
| EBITDA Margin | 2.3% | 3.9% | 6.7% | -70.2% | 2.0% | 0.70% | · | |
| ROA | -9.4% | -4.3% | 1.6% | -0.48% | 7.0% | 6.3% | · | |
| ROE | 457.6% | -71.3% | 10.6% | -2.3% | 36.3% | 50.2% | · |
Efficiency
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.3 | 0.2 | -0.0 | 0.5 | 0.8 | · |
Per Share
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $25.22 | $16.51 | $10.69 | $-1.09 | $25.48 | $23.67 | · | |
| Cash Flow / Share | $0.84 | $0.91 | $2.43 | $2.44 | $4.00 | $4.49 | · | |
| Dividend / Share | $1.48 | $1.08 | $1.08 | $0.80 | $0.44 | $0.07 | · | |
| Dividend Paid / Share | $1.48 | $1.08 | $1.08 | $0.80 | $0.44 | $0.07 | · | |
| EPS (TTM) | $-6.78 | $-2.52 | $0.91 | $-0.30 | $3.84 | $2.06 | · |
Growth Rates
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 69.7% | 65.1% | · | · | 73.4% | · | · | |
| Revenue CAGR 3Y | · | -4.9% | -3.3% | · | · | · | · | |
| Revenue CAGR 5Y | 20.4% | · | · | · | · | · | · | |
| EPS YoY | · | · | · | · | 86.4% | · | · | |
| EPS CAGR 3Y | · | · | -23.8% | · | · | · | · | |
| Net Income YoY | · | · | · | · | 209.5% | · | · | |
| Net Income CAGR 3Y | · | · | -2.5% | · | · | · | · | |
| Dividends Paid CAGR 5Y | 124.9% | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.99B | $1.17B | $712M | $-68M | $1.37B | $788M | · | |
| Net Income TTM | $-536M | $-180M | $58M | $-18M | $194M | $63M | · | |
| P/E | -7.0 | -20.7 | 39.3 | -80.9 | 8.6 | 17.1 | · | |
| Earnings Yield | -14.2% | -4.8% | 2.5% | -1.2% | 11.6% | 5.8% | · | |
| Payout Ratio | -22.0% | -42.2% | 117.9% | -271.6% | 12.3% | 3.3% | · | |
| Annual Payout | $118M | $76M | $68M | $50M | $24M | $2M | · |
Income Statement
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $379M | $589M | $587M | $454M | $364M | $378M | $339M | $272M | $186M | $357M | $-15M | $191M | $178M | $172M | $-4M | $-158M | |
| SG&A Expense | $53M | $48M | $51M | $45M | $43M | $43M | $43M | $50M | $41M | $54M | $48M | $32M | $33M | $36M | $44M | $34M | |
| Operating Expenses | $584M | $609M | $808M | $1.18B | $423M | $384M | $698M | $221M | $139M | $269M | $19M | $130M | $121M | $100M | $5M | $-104M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | $3M | $2M | $2M | · | $1M | $817.0K | |
| Interest Income | $5M | $4M | $2M | $3M | $2M | $3M | $3M | $3M | $2M | $1M | $827.0K | $977.0K | $431.0K | $853.0K | $701.0K | $356.0K | |
| Other Non-op | $-4M | $-5M | $-1M | $2M | $5M | $-31M | $-2M | $1M | $-351.0K | $-1M | $4M | $-872.0K | $227.0K | $-40.0K | $358.0K | $-634.0K | |
| Pretax Income | $-200M | $-344.0K | $-195M | $-676M | $-20M | $10M | $-345M | $58M | $55M | $95M | $-24M | $67M | $58M | $68M | $-14M | $-74M | |
| Income Tax | $-30M | $-7M | $-32M | $-100M | $-8M | $-3M | $-58M | $5M | $7M | $12M | $-723.0K | $8M | $9M | $11M | $-732.0K | $-7M | |
| Net Income | $-116M | $-8M | $-123M | $-366M | $-38M | $-19M | $-192M | $18M | $13M | $31M | $-20M | $26M | $21M | $29M | $-7M | $-29M | |
| EPS (Basic) | $-1.41 | $-0.08 | $-1.55 | $-4.66 | $-0.49 | $-0.37 | $-2.61 | $0.26 | $0.20 | $0.47 | $-0.32 | $0.42 | $0.34 | $0.47 | $-0.11 | $-0.48 | |
| EPS (Diluted) | $-1.41 | $-0.08 | $-1.55 | $-4.66 | $-0.49 | $-0.37 | $-2.61 | $0.26 | $0.20 | $0.47 | $-0.32 | $0.42 | $0.34 | $0.47 | $-0.11 | $-0.48 | |
| Shares (Basic) | 81,995,674 | · | 79,465,039 | 78,561,587 | 77,846,710 | · | 73,687,289 | 68,772,051 | 66,187,754 | · | 64,068,952 | 62,858,468 | 62,834,818 | · | 62,192,899 | 61,407,834 | |
| Shares (Diluted) | 81,995,674 | · | 79,465,039 | 78,561,587 | 77,846,710 | · | 73,687,289 | 69,695,315 | 68,593,761 | · | 64,068,952 | 66,198,129 | 65,739,470 | · | 62,192,899 | 61,407,834 | |
| EBITDA | $11M | · | · | · | $11M | · | · | · | $11M | · | · | · | $12M | · | · | · |
Balance Sheet
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $144M | |
| PP&E (Net) | · | $26M | · | · | · | $30M | · | · | · | $30M | · | · | · | · | · | · | |
| PP&E (Gross) | · | $45M | · | · | · | $43M | · | · | · | $39M | · | · | · | · | · | · | |
| Accum. Depreciation | · | $18M | · | · | · | $13M | · | · | · | $10M | · | · | · | · | · | · | |
| Goodwill | $581M | $581M | $581M | $581M | $581M | $581M | $581M | $581M | $581M | $581M | $581M | $581M | $581M | · | $581M | $581M | |
| Intangibles | $213M | $223M | $233M | $243M | $254M | $264M | $274M | $284M | $295M | $305M | $315M | $333M | $344M | · | $366M | $376M | |
| Total Assets | $7.77B | $6.76B | $5.24B | $5.33B | $4.78B | $4.59B | $4.35B | $4.04B | $3.83B | $3.79B | $3.47B | $3.61B | $3.53B | · | $3.50B | $3.58B | |
| Total Liabilities | $6.53B | $5.88B | $4.72B | $4.11B | $3.08B | $2.81B | $2.61B | $2.04B | $1.89B | $1.92B | $1.80B | $1.91B | $1.86B | · | $1.89B | $1.93B | |
| Long-term Debt | · | · | $270M | $270M | $270M | $269M | $169M | $172M | $172M | $149M | $124M | $124M | $98M | · | $83M | $63M | |
| Paid-in Capital | $542M | $482M | $487M | $486M | $485M | $421M | $415M | $393M | $364M | $310M | $630M | $629M | $613M | · | $606M | $596M | |
| Retained Earnings | $-1.08B | $-897M | $-866M | $-720M | $-332M | $-243M | $-206M | $4M | $3M | $14M | $131M | $165M | $153M | · | $144M | $164M | |
| AOCI | $1M | $1M | $876.0K | $935.0K | $944.0K | $728.0K | $341.0K | $236.0K | $297.0K | $304.0K | $186.0K | $338.0K | $439.0K | · | $610.0K | $671.0K | |
| Stockholders' Equity | $-539M | $-414M | $-379M | $-233M | $154M | $179M | $210M | $397M | $367M | $324M | $762M | $795M | $766M | · | $752M | $761M | |
| Liabilities + Equity | $7.77B | $6.76B | $5.24B | $5.33B | $4.78B | $4.59B | $4.35B | $4.04B | $3.83B | $3.79B | $3.47B | $3.61B | $3.53B | · | $3.50B | $3.58B |
Cash Flow
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $12M | $12M | $12M | $12M | $12M | $12M | |
| Stock-based Comp | $293M | $180M | $380M | $875M | $182M | $120M | $476M | $35M | $19M | $11M | $14M | $6M | $8M | $9M | $8M | $4M | |
| Amort. of Intangibles | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $10M | $11M | $11M | $11M | $11M | $11M | $11M | |
| Other Non-cash | $-646M | · | · | · | $-108M | · | · | · | $7M | · | · | · | $16M | · | · | · | |
| Operating Cash Flow | $-458M | $-23M | $27M | $16M | $46M | $-67M | $28M | $54M | $50M | $8M | $25M | $71M | $58M | $-516.0K | $6M | $88M | |
| CapEx | $549.0K | $762.0K | $432.0K | $331.0K | $1M | $3M | $566.0K | $1M | $575.0K | $915.0K | $4M | $7M | $8M | $2M | $1M | $2M | |
| Investing Cash Flow | $21M | $822M | $-67M | $-10M | $-12M | $-7M | $-3M | $-21M | $-13M | $-9M | $-11M | $-13M | $-14M | $-7M | $-6M | $-10M | |
| Stock Issued | · | $2M | $0 | · | · | $1M | $0 | · | · | $0 | $0 | · | · | · | · | · | |
| Stock Repurchased | $19M | · | · | · | $0 | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-19M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $69M | $23M | $22M | $22M | $50M | $18M | $17M | $16M | $24M | $13M | $13M | $13M | $28M | $13M | $13M | $12M | |
| Financing Cash Flow | $19M | $-58M | $52M | $116M | $-72M | $85M | $26M | $-724.0K | $-23M | $9M | $-14M | $-9M | $-44M | $-3M | $-2M | $-42M | |
| Net Change in Cash | $-416M | $741M | $11M | $122M | $-45M | $10M | $54M | $29M | $14M | $8M | $-2M | $49M | $-2M | $-12M | $-3M | $37M | |
| Free Cash Flow | $-458M | · | · | · | $45M | · | · | · | $50M | · | · | · | $50M | · | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | · | · | $48M | · | · | · |
Profitability
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -30.6% | · | -21.1% | -80.6% | -10.5% | · | -56.6% | 6.5% | 7.1% | · | 138.4% | 13.7% | 11.9% | · | 163.8% | 18.4% | |
| Pretax Margin | -52.8% | · | -33.2% | -148.8% | -5.6% | · | -101.7% | 21.3% | 29.4% | · | 165.2% | 35.0% | 32.6% | · | 337.4% | 47.0% | |
| EBITDA Margin | 3.0% | · | · | · | 3.1% | · | · | · | 6.1% | · | · | · | 6.7% | · | · | · | |
| ROA | -1.8% | · | -2.6% | -7.8% | -0.89% | · | -4.9% | 0.46% | 0.36% | · | -0.58% | 0.73% | 0.57% | · | -0.18% | -0.79% | |
| ROE | 60.1% | · | 146.1% | -446.5% | -14.8% | · | -39.5% | 3.0% | 2.4% | · | -2.7% | 3.4% | 2.7% | · | -0.91% | -4.0% |
Efficiency
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | -0.0 | 0.1 | 0.0 | · | -0.0 | -0.0 |
Per Share
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $4.62 | · | $7.38 | $5.78 | $4.68 | · | $4.60 | $3.90 | $2.72 | · | $-0.23 | $2.89 | $2.71 | · | $-0.07 | $-2.58 | |
| Cash Flow / Share | $-5.58 | · | · | · | $0.59 | · | · | · | $0.73 | · | · | · | $0.88 | · | · | · | |
| Dividend Paid / Share | · | $0.28 | $0.28 | $0.28 | · | $0.24 | $0.24 | $0.24 | · | $0.21 | $0.21 | $0.21 | · | $0.20 | $0.20 | $0.20 | |
| EPS (TTM) | $-7.70 | · | $-7.07 | $-8.13 | $-3.21 | · | $-1.68 | $0.61 | $0.77 | · | $0.91 | $1.12 | $0.22 | · | $-0.27 | $0.67 |
Valuation (TTM)
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.01B | · | $1.78B | $1.54B | $1.35B | · | $1.15B | $800M | $720M | · | $527M | $538M | $188M | · | $125M | $539M | |
| Net Income TTM | $-613M | · | $-547M | $-615M | $-231M | · | $-130M | $42M | $50M | · | $56M | $69M | $14M | · | $-5M | $50M | |
| P/E | -5.4 | · | -9.1 | -8.0 | -17.3 | · | -34.5 | 93.2 | 59.6 | · | 35.0 | 28.2 | 112.8 | · | -93.3 | 36.6 | |
| Earnings Yield | -18.6% | · | -11.0% | -12.4% | -5.8% | · | -2.9% | 1.1% | 1.7% | · | 2.9% | 3.5% | 0.89% | · | -1.1% | 2.7% | |
| Payout Ratio | -59.2% | · | · | · | -130.8% | · | · | · | 178.6% | · | · | · | 132.9% | · | · | · | |
| Annual Payout | $136M | · | $113M | $108M | $102M | · | $71M | $67M | $64M | · | $68M | $67M | $66M | · | $46M | $43M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 |
|---|---|---|---|---|---|
| Revenue | $1.99B | $1.17B | $712M | $-68M | $1.37B |
| Net Income | $-536M | $-180M | $58M | $-18M | $194M |
| Diluted EPS | $-6.78 | $-2.52 | $0.91 | $-0.30 | $3.84 |
No data for this statement
Not enough fundamentals data to build this statement yet.
| Metric | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $64M | $60M | $142M | $146M | $212M |
Institutional owners (13F) 295 filers · $3.7B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
295
Value held
$3.7B
New positions
56
Exited positions
41
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 56 (-14 vs prior Q) | 41 (-8 vs prior Q) | 130 (+31 vs prior Q) | 66 (-6 vs prior Q) | -2.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $542,228,672 | 8,449,878 | 14.53% | Shares |
| BlackRock, Inc. | $495,172,818 | 11,972,263 | 13.27% | Shares |
| MILLENNIUM MANAGEMENT LLC | $232,422,437 | 5,619,498 | 6.23% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $214,656,870 | 5,189,963 | 5.75% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $193,319,659 | 4,674,073 | 5.18% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $146,840,739 | 3,550,308 | 3.93% | Shares |
| STATE STREET CORP | $128,956,456 | 3,117,991 | 3.46% | Shares |
| Capital World Investors | $104,393,384 | 2,524,018 | 2.80% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $83,412,952 | 2,016,372 | 2.24% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $79,825,420 | 1,930,015 | 2.14% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $71,528,977 | 1,729,424 | 1.92% | Shares |
| JPMORGAN CHASE & CO | $61,380,904 | 1,520,835 | 1.64% | Shares |
| CIBC Private Wealth Group LLC | $61,019,041 | 934,299 | 1.64% | Shares |
| GOLDMAN SACHS GROUP INC | $59,082,954 | 1,428,505 | 1.58% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $57,540,735 | 1,391,217 | 1.54% | Shares |
| SAMLYN CAPITAL, LLC | $52,489,976 | 1,269,100 | 1.41% | Shares |
| Capital Research Global Investors | $50,952,335 | 1,231,923 | 1.37% | Shares |
| Balyasny Asset Management L.P. | $46,037,526 | 1,113,093 | 1.23% | Shares |
| MORGAN STANLEY | $44,848,596 | 1,084,346 | 1.20% | Shares |
| Junto Capital Management LP | $44,613,874 | 1,078,672 | 1.20% | Shares |
| WASATCH ADVISORS LP | $43,984,478 | 921,720 | 1.18% | Shares |
| Point72 Asset Management, L.P. | $41,553,110 | 1,004,669 | 1.11% | Shares |
| BAMCO INC /NY/ | $34,283,759 | 828,911 | 0.92% | Shares |
| NORTHERN TRUST CORP | $33,180,728 | 802,242 | 0.89% | Shares |
| RAYMOND JAMES FINANCIAL INC | $30,438,313 | 735,937 | 0.82% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $28,517,389 | 689,492 | 0.76% | Shares |
| Advent International, L.P. | $28,266,748 | 683,432 | 0.76% | Shares |
| BANK OF AMERICA CORP /DE/ | $26,601,553 | 643,171 | 0.71% | Shares |
| JANE STREET GROUP, LLC | $24,212,144 | 585,400 | 0.65% | Call option |
| FRANKLIN RESOURCES INC | $22,623,920 | 547,000 | 0.61% | Shares |
| Bank of New York Mellon Corp | $21,751,955 | 525,918 | 0.58% | Shares |
| UBS Group AG | $20,734,595 | 501,320 | 0.56% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $20,682,027 | 500,049 | 0.55% | Shares |
| Nuveen, LLC | $20,192,738 | 488,219 | 0.54% | Shares |
| Woodline Partners LP | $19,295,639 | 466,529 | 0.52% | Shares |
| TimesSquare Capital Management, LLC | $18,648,976 | 390,800 | 0.50% | Shares |
| Schonfeld Strategic Advisors LLC | $18,074,980 | 437,016 | 0.48% | Shares |
| FRED ALGER MANAGEMENT, LLC | $14,890,901 | 360,029 | 0.40% | Shares |
| Toroso Investments, LLC | $14,859,205 | 231,560 | 0.40% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $14,831,117 | 358,586 | 0.40% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $14,751,539 | 356,662 | 0.40% | Shares |
| Rockefeller Capital Management L.P. | $14,495,711 | 350,476 | 0.39% | Shares |
| Public Sector Pension Investment Board | $14,388,151 | 347,876 | 0.39% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $13,270,480 | 320,853 | 0.36% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $13,173,160 | 318,500 | 0.35% | Shares |
| MARSHALL WACE, LLP | $12,488,898 | 301,956 | 0.33% | Shares |
| Engle Capital Management, L.P. | $12,408,000 | 300,000 | 0.33% | Shares |
| WELLS FARGO & COMPANY/MN | $11,277,404 | 272,665 | 0.30% | Shares |
| Inherent Management Corp. | $10,907,831 | 263,729 | 0.29% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $10,786,192 | 260,788 | 0.29% | Shares |
Activists & 5%+ owners 12 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| James Lim ×2 filings | Jan. 14, 2026 | 4.00% | Amendment | · | SEC |
| ARG Private Equity, LLC, ARGO Holdings, LLC, Sanford Energy, Inc., KAISER GEORGE B, Waldo Robert ×3 filings | Jan. 8, 2026 | 4.30% | Amendment | · | SEC |
| Thomas Keck | Sept. 18, 2025 | 5.20% | Initial filing | Passive investment | SEC |
| Jose A. Fernandez | Sept. 18, 2025 | 6.00% | Initial filing | Passive investment | SEC |
| Monte M. Brem, Scott W. Hart, Jason P. Ment, Jose A. Fernandez, Michael I. McCabe, Thomas Keck ×3 filings | Sept. 18, 2025 | 6.00% | Amendment | · | SEC |
| Monte M. Brem (2), Scott W. Hart (2), Jason P. Ment (2), Jose A. Fernandez (2), Michael I. McCabe (2), Thomas Keck (2) ×19 filings | Dec. 5, 2024 | · | Initial filing | · | SEC |
| James Lim (2) ×5 filings | Nov. 21, 2024 | · | Initial filing | · | SEC |
| Thomas Bradley (2) ×2 filings | Sept. 13, 2024 | · | Initial filing | · | SEC |
| Mark Maruszewski (2) ×2 filings | Sept. 13, 2024 | · | Initial filing | · | SEC |
| David Jeffrey (2) ×2 filings | July 12, 2024 | · | Initial filing | · | SEC |
| Charles Ashton Newhall (2) ×4 filings | April 17, 2024 | · | Initial filing | · | SEC |
| Argonaut Private Equity, L.L.C., Argonaut Holdings, L.L.C., Sanford Energy, Inc., George B. Kaiser, Robert A. Waldo | Sept. 22, 2020 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 20 insiders · 7 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Scott W. Hart | Chief Executive Officer | March 13, 2026 A | 78,605 | 0 | 5 | $-2,647,276 |
| David Y Park | Chief Financial Officer | Sept. 30, 2026 A | 50,775 | 0 | 0 | $0 |
| Johnny D Randel | Chief Financial Officer | Feb. 14, 2023 A | 37,657 | 0 | 0 | $0 |
| Jason P. Ment | President & Co-COO | March 13, 2026 A | 49,680 | 0 | 0 | $0 |
| Jose A Fernandez | Co-Chief Operating Officer | June 3, 2026 S | 0 | 0 | 14 | $-22,732,316 |
| Michael I. McCabe | Head of Strategy | June 11, 2026 P | 433,178 | 2 | 3 | $-7,687,656 |
| Anthony Keathley | Chief Accounting Officer | March 13, 2026 A | 3,540 | 0 | 0 | $0 |
| Valerie Gay Brown | Director | Sept. 8, 2026 A | 12,235 | 0 | 0 | $0 |
| Anne L Raymond | Director | Sept. 8, 2026 A | 32,361 | 0 | 0 | $0 |
| Steven R Mitchell | Director | Sept. 8, 2026 A | 17,621 | 3 | 0 | $565,771 |
| David F Hoffmeister | Director | Sept. 8, 2026 A | 19,550 | 0 | 0 | $0 |
| Thomas Keck | Director | March 13, 2026 A | 21,118 | 0 | 0 | $0 |
| Monte M. Brem | Director | Sept. 11, 2024 D | 2,276,888 | 0 | 0 | $0 |
| Mark Maruszewski | Director | March 23, 2021 C | 41,667 | 0 | 0 | $0 |
| James Lim | 10% owner | Feb. 16, 2024 S | 6,208,351 | 0 | 0 | $0 |
| Waldo Robert | 10% owner | Oct. 27, 2021 S | 5,018,044 | 0 | 0 | $0 |
| StepStone Group LP | 10% owner | Sept. 18, 2020 J | 0 | 0 | 0 | $0 |
| Thomas Alcott Bradley | · | March 23, 2021 C | 13,380 | 0 | 0 | $0 |
| David Jeffrey | · | March 23, 2021 C | 40,000 | 0 | 0 | $0 |
| Darren M. Friedman | · | March 23, 2021 C | 117,600 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 49 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| RSMC · Tidal Trust III | 1.80% | 312,202 NS | July 31, 2026 | N-PORT |
| PSP · Invesco Exchange-Traded Fund Trust | 1.70% | 81,062 SH | Oct. 2, 2026 | Daily |
| JSML · Janus Detroit Street Trust | 1.53% | 126,298 NS | July 31, 2026 | N-PORT |
| JSMD · Janus Detroit Street Trust | 1.45% | 348,424 NS | July 31, 2026 | N-PORT |
| LBO · EA Series Trust | 1.23% | 1,985 NS | July 31, 2026 | N-PORT |
| PSCF · Invesco Exchange-Traded Fund Trust … | 0.86% | 5,308 SH | Oct. 2, 2026 | Daily |
| RZG · Invesco Exchange-Traded Fund Trust | 0.38% | 10,111 SH | Oct. 2, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.33% | 87,763 SH | Aug. 19, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.20% | 58,964 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.19% | 64,275 SH | Aug. 19, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.17% | 257,878 SH | Aug. 19, 2026 | Daily |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.17% | 22,192 NS | July 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.14% | 2,782 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.13% | 2,016,632 SH | Sept. 11, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 19,877 NS | July 31, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.12% | 52,126 SH | Oct. 2, 2026 | Daily |
| RSSL · Global X Funds | 0.11% | 37,214 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.10% | 447,259 SH | Aug. 19, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.09% | 1,072,478 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.07% | 40,031 SH | Sept. 11, 2026 | Daily |
| ISCG · iShares Trust | 0.06% | 10,864 SH | Sept. 10, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.05% | 6,664 NS | July 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.04% | 1,852,297 SH | Aug. 19, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.04% | 19,133 NS | July 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.03% | 4,173 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 846,620 SH | Aug. 19, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.03% | 117,760 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 15,787 SH | Oct. 2, 2026 | Daily |
| DGRO · iShares Trust | 0.02% | 174,292 SH | Sept. 11, 2026 | Daily |
| IWO · iShares Trust | 0.01% | 39,757 SH | Sept. 11, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.01% | 303,010 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 4,577 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.01% | 17,128 SH | Aug. 19, 2026 | Daily |
| DIVB · iShares Trust | 0.01% | 3,808 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.01% | 97,299 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 18,748 SH | Sept. 10, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 790 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 4,607 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,561,979 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 59,613 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 6,442 SH | Aug. 19, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 158 NS | July 31, 2026 | N-PORT |
| IJR · iShares Trust | · | 4,483,154 SH | Sept. 8, 2026 | Daily |
| IJT · iShares Trust | · | 683,414 SH | Sept. 9, 2026 | Daily |
| IWN · iShares Trust | · | 681,525 SH | Sept. 11, 2026 | Daily |
| XJR · iShares Trust | · | 10,043 SH | Aug. 31, 2026 | Daily |
| ISCB · iShares Trust | · | 3,224 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 8,325 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 22,625 SH | Sept. 9, 2026 | Daily |
STEP Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 14 analysts
BUY
Median target
$65.00
+43.6%
3 21.4%
Strong Buy
9 64.3%
Buy
2 14.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
9 analysts · 2026-10-02Mean target $69.56 +53.6%
← Below all targets
Current price $45.27
Low$56.00
Mean$69.56
High$92.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| STEP | · | -7.0 | 69.7% | -26.9% | 457.6% | · |
| SEIC | $10.03B | 14.6 | 8.1% | 31.1% | 29.9% | 35.2% |
| AMG | · | 12.7 | 1.6% | 34.5% | 21.8% | · |
| GLXY | · | · | 41.8% | -0.40% | -11.6% | · |
| VCTR | $4.05B | 15.5 | 46.2% | 25.3% | 13.5% | · |
| BXSL | $6.11B | 10.7 | · | · | 9.0% | · |
| MAIN | $5.43B | 15.3 | · | · | 16.8% | · |
| OBDC | $6.21B | 10.0 | · | · | 8.3% | · |
| HLNE | · | · | 6.5% | 32.8% | 30.5% | · |
| OTF | $6.75B | 7.9 | · | · | 9.0% | · |
| FHI | · | 10.2 | 10.3% | 22.4% | 34.9% | · |
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Source: SEC 10-Q filed Aug 7, 2026