StepStone Group (STEP) Stock Overview

A private equity and venture capital firm specializing in primary, direct, fund of funds, secondary direct, and secondary indirect investments. More details

STEP fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	1/6
Past Performance	0/6
Financial Health	2/6
Dividends	1/6

Risk Analysis

Earnings have declined by 78% per year over past 5 years

Dividend of 3.87% is not well covered by earnings or free cash flows

STEP Community Fair Values

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StepStone Group Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for StepStone Group
Historical stock prices
Current Share Price	US$48.29
52 Week High	US$77.80
52 Week Low	US$38.85
Beta	1.28
1 Month Change	0.021%
3 Month Change	6.84%
1 Year Change	-19.69%
3 Year Change	53.59%
5 Year Change	7.89%
Change since IPO	93.16%

Recent updates

Seeking Alpha • Jul 21

StepStone Group: A Complicated Story

Summary StepStone Group has declined 45% in five months amid AI-driven concerns impacting software investments, despite only 11% AUM exposure to software. STEP trades at 17.6x forward P/E with 23% AUM growth in FY26 and $40.1B undeployed fee-earning capital, yet market sentiment remains negative. Recent financials showed strong management and advisory fee growth (22% YoY in 4QFY26), but performance fee earnings fell 57%, highlighting volatility in incentive income. An analysis around this somewhat complicated story follows in the paragraphs below. Read the full article on Seeking Alpha

Seeking Alpha • Oct 16

StepStone Group: Favorable Private Market Trends Point To A Solid Outlook

Summary Shares have doubled this year, reflecting the solid momentum in the business, which is showing strong growth and rising margins. The outlook remains strong as newer products are gaining good traction in the market. Management's earnings and margin targets for FY28 are likely to be met well ahead of plan. I find shares close to fully valued at 29.8 times earnings with a limited margin of safety, leading me to assign a Hold rating. Read the full article on Seeking Alpha

Shareholder Returns

	STEP	US Capital Markets	US Market
7D	-3.3%	-4.8%	-1.1%
1Y	-19.7%	-3.3%	11.7%

Return vs Industry: STEP underperformed the US Capital Markets industry which returned -0.8% over the past year.

Return vs Market: STEP underperformed the US Market which returned 12.1% over the past year.

Price Volatility

Is STEP's price volatile compared to industry and market?
STEP volatility
STEP Average Weekly Movement	7.4%
Capital Markets Industry Average Movement	3.3%
Market Average Movement	6.9%
10% most volatile stocks in US Market	15.2%
10% least volatile stocks in US Market	2.9%

Stable Share Price: STEP has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: STEP's weekly volatility (7%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2007	1,355	Scott Hart	www.stepstonegroup.com

StepStone Group Inc. is a private equity and venture capital firm specializing in primary, direct, fund of funds, secondary direct, and secondary indirect investments. 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. It prefers to invest in natural resources, technology, healthcare, services, materials, manufacturing, consumer durables, apparel, hotels, restaurants and leisure, media, retailing, power, utilities consumer staples, financials, telecommunication services, clean energy/renewables, transport, social, natural capital, infrastructure, corporate, real estate, credit and real asset.

StepStone Group Inc. Fundamentals Summary

How do StepStone Group's earnings and revenue compare to its market cap?
STEP fundamental statistics
Market cap	US$6.01b
Earnings (TTM)	-US$613.20m
Revenue (TTM)	US$2.01b

2.0x

P/S Ratio

-6.5x

P/E Ratio

Is STEP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
STEP income statement (TTM)
Revenue	US$2.01b
Cost of Revenue	US$2.98b
Gross Profit	-US$971.34m
Other Expenses	-US$358.14m
Earnings	-US$613.20m

Last Reported Earnings

Jun 30, 2026

Next Earnings Date

n/a

Earnings per share (EPS)	-7.45
Gross Margin	-48.37%
Net Profit Margin	-30.53%
Debt/Equity Ratio	117.1%

How did STEP perform over the long term?

See historical performance and comparison

Dividends

3.9%

Current Dividend Yield

-15%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/16 12:22
End of Day Share Price	2026/09/16 00:00
Earnings	2026/06/30
Annual Earnings	2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

StepStone Group Inc. is covered by 11 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Benjamin Budish	Barclays
"Benjamin Budish	Barclays
Brennan Hawken	BMO Capital Markets Equity Research

StepStone Group (STEP) Stock Overview

Risk Analysis

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StepStone Group Inc. Competitors

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Price History & Performance

Recent News & Updates

StepStone Group Backs Oversubscribed Continuation Fund for Core Health and Fitness Expansion

StepStone Group Enters New Investment Partnership With System One and Oaktree Capital

StepStone Group Completes $1.7 Billion Infrastructure Secondaries Fundraising and Rapid Deployment

Upcoming dividend of US$0.33 per share

First quarter dividend increased to US$0.33

First quarter 2027 earnings released: US$1.41 loss per share (vs US$0.49 loss in 1Q 2026)

Recent updates

StepStone Group Backs Oversubscribed Continuation Fund for Core Health and Fitness Expansion

StepStone Group Enters New Investment Partnership With System One and Oaktree Capital

StepStone Group Completes $1.7 Billion Infrastructure Secondaries Fundraising and Rapid Deployment

Upcoming dividend of US$0.33 per share

First quarter dividend increased to US$0.33

First quarter 2027 earnings released: US$1.41 loss per share (vs US$0.49 loss in 1Q 2026)

StepStone Group Inc. to Report Q1, 2027 Results on Aug 06, 2026

StepStone Group Inc., Annual General Meeting, Sep 08, 2026

Price target decreased by 8.3% to US$66.50

StepStone Group: A Complicated Story

StepStone Group Integrates Deal Data With PitchBook in New SPI Benchmarking Launch

StepStone Group Secures $3.3 Billion for Record Private Market Secondaries Vehicle

StepStone Group Inc. And PitchBook Launch SPI Deal Benchmarking Solution

Upcoming dividend of US$0.83 per share

StepStone Group Co-COO Sells US$9.6m in Shares as Quarterly Results Surpass Estimates

Fourth quarter dividend of US$0.83 announced

Full year 2026 earnings released: US$6.78 loss per share (vs US$2.52 loss in FY 2025)

StepStone Group Inc. Appoints Taylor Benson as Head of U.S. Defined Contribution Business

StepStone Group LP to Report Q4, 2026 Results on May 20, 2026

SAP SE (XTRA:SAP) agreed to acquire Dremio Corporation.

StepStone Group Inc. Announces Executive Appointments

Director recently bought US$566k worth of stock

Upcoming dividend of US$0.28 per share

Grab Holdings Limited (NasdaqGS:GRAB) entered into a definitive agreement to acquire Stash Financial, Inc. from group of shareholders for an enterprise value of $430 million.

Third quarter dividend of US$0.28 announced

Third quarter 2026 earnings released: US$1.55 loss per share (vs US$2.61 loss in 3Q 2025)

StepStone Group Inc. Declares Quarterly Cash Dividend on Class A Common Stock, Payable on March 13, 2026

Space Exploration Technologies Corp. acquired X.AI LLC from a group of shareholders for an estimated valuation of $250 billion.

Stepstone Real Estate Announces Launch of S-Core to Expand Its Core/Core+ Real Estate Investment Offerings

StepStone Group Inc. to Report Q3, 2026 Results on Feb 05, 2026

Price target increased by 7.7% to US$82.00

Insider recently sold US$71m worth of stock

Insider recently sold US$17m worth of stock

Partner recently sold US$13m worth of stock

StepStone Group Appoints Lindsay Creedon as Head of Private Equity, effective January 1, 2026

Upcoming dividend of US$0.28 per share

Postman, Inc. acquired LibLab Inc.

StepStone Private Wealth Solutions Launches StepStone Private Equity Strategies Fund

Second quarter dividend of US$0.28 announced

Second quarter 2026 earnings released: US$4.66 loss per share (vs US$0.26 profit in 2Q 2025)

Stepstone Group Inc. Declares Quarterly Cash Dividend of Class A Common Stock, Payable on December 15, 2025

StepStone Group Inc. to Report Q2, 2026 Results on Nov 06, 2025

New Enterprise Associates, Inc. completed the acquisition of remaining 66.96% stake in NeueHealth, Inc. (NYSE:NEUE) from a group of shareholders.

Price target increased by 9.3% to US$70.83

Upcoming dividend of US$0.28 per share

First quarter dividend of US$0.28 announced

First quarter 2026 earnings released: US$0.49 loss per share (vs US$0.20 profit in 1Q 2025)

Stepstone Group Inc. Declares Quarterly Cash Dividend, Payable on September 15, 2025

StepStone Group Inc. to Report Q1, 2026 Results on Aug 07, 2025

Palo Alto Networks, Inc. (NasdaqGS:PANW) completed the acquisition of Protect AI, Inc.

StepStone Group Inc., Annual General Meeting, Sep 09, 2025

CEO, Head of Private Equity recently sold US$603k worth of stock

StepStone Group Inc.(NasdaqGS:STEP) dropped from Russell 2000 Growth-Defensive Index

Partner recently sold US$3.8m worth of stock

Vista Equity Partners Management, LLC and Blackstone Inc. (NYSE:BX) acquired Assent Inc. from Volition Capital LLC, First Ascent Ventures, Warburg Pincus LLC and StepStone Group Inc. (NasdaqGS:STEP) for estimated $1.3 billion.

Upcoming dividend of US$0.64 per share

Partner recently sold US$15m worth of stock

Partner notifies of intention to sell stock

Price target increased by 8.1% to US$62.33

Fourth quarter dividend of US$0.64 announced

Full year 2025 earnings released: US$2.52 loss per share (vs US$0.92 profit in FY 2024)

StepStone Group Inc. to Report Q4, 2025 Results on May 22, 2025

Palo Alto Networks, Inc. (NasdaqGS:PANW) entered into a definitive agreement to acquire Protect AI, Inc.