StepStone Group Inc. (STEP) Stock

StepStone Group Inc. (STEP) is a Financials stock trading at $48.77 (as of 2026-08-20), with a market capitalization of $4.00B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

StepStone Group Inc. is an investment firm focused on direct investments, fund-of-funds, and secondary direct and secondary indirect strategies. It makes investments across stages including venture and growth capital and sectors such as technology and healthcare, and it invests globally, including the United States and other regions across North America, Europe, Asia, Latin America, the Middle East, Africa, and parts of Oceania.

Understand StepStone Group Inc.: how it makes money

StepStone Group Inc. is an investment firm that makes direct and fund-of-funds investments in private companies, and earns money primarily through investment-related fee revenues.

The profit model is driven by recurring investment fee revenues (including items like retroactive fees), while reported profitability can be pressured by operating costs, as reflected in the negative operating margin.

Business quality (Weak): Key operating drivers are identifiable from the provided revenue breakdown (fee revenues and retroactive fees), but a clean official segment breakdown that sums to total revenue is not available in the supplied facts.

Bull case

  • Fee revenues are the largest identifiable component in the provided revenue breakdown, indicating the company has a fee-based earnings stream tied to its investment activities: In the supplied figures, Fee Revenues are 0.22B versus 0.24B for Adjusted revenues.

Bear case

  • Reported operating profitability is currently weak, with an operating margin that is negative: Operating margin is -33.2% for the period ending 2025-12-31.
  • Revenue timing and components may be variable, since the provided breakdown separates retroactive fees as a distinct contributor: Retroactive Fees Contributed to Revenue are 0.01B in the supplied figures.
Valuation — source: SEC EDGAR (first-party)
Price$48.77
Market Cap$4.00B
Price / Book4.12
Price / Sales1.99
FCF Yield-9.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.99B
Net Margin-26.9%
Revenue Growth (YoY)4.0%
EPS Growth (YoY)187.8%
FCF Growth (YoY)-1113.7%
Valuation vs Sector & Industry
Sector P/E (Financials)15.1
Industry P/E (Trading)34.6
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($564.39M)
Institutional Holders Tracked10
Company
SectorFinancials
IndustryTrading
CEOScott Hart
Employees1,090
CountryUS
IPO Date2020-09-16

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STEP earnings history · STEP institutional & insider holders · STEP KPIs & operating metrics · STEP financials · STEP investor presentations & press releases · STEP SEC filings · STEP peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.