STEP · StepStone Group Inc.
$45.42
+2.02 (+4.65%)
At close · Oct 1
Return incl. dividend (before tax)
Market Cap
$5.35B
Shares
120.68M
Volume · Oct 1
279.08K
Avg daily vol (3M)
1.25M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$43.40
Open$43.75
Day$42.92–43.78
52W close$39.54–76.27
Avg vol 30d1.0M
Short int5.3M · 4.4% float · 4.9d
Short vol76%
Last earningsAug 6, 2026
DataSep 2020–Sep 2026
Filing10-Q · Aug 7
Up next
Next earnings call
Nov 5, 2026
Est · unconfirmed
· in 5 wks
filed Aug 7, 2026
call held Aug 6, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$2.01B
Trailing 12 months
Net income (TTM)
−$613.20M
Trailing 12 months
Revenue growth YoY
+4.0%
Year over year
Operating margin
—
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
-8.2%
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+5.3%
Year over year · more shares
Price change (1Y)
-33.5%
Trailing year
Short interest
4.4%
Latest settlement · 4.9 days to cover
AI Brief
Q1 FY27 earnings call · Aug 6, 2026
Q1 FY27
TL;DR. StepStone posted strong fee-related results for FQ1'27 (FRE up 30% YoY to $106M, ANI up 24% YoY to $60M, AUM up 23% YoY to $245B), raised the quarterly dividend 18% to $0.33, but reported a GAAP net loss of $116M driven by a mark-to-market on the private wealth profits interest and guided to a relatively flat commingled fund fee rate over the coming year.
Bullish
- + Fee-related earnings grew 30% YoY to $106M with a 39% FRE margin
- + Generated nearly $40B of gross AUM additions over the last 12 months, the best 12-month period ever
- + Private wealth platform hit record $2.8B quarterly subscriptions with total platform surpassing $21B
- + Raised quarterly dividend 18% to $0.33 per share reflecting FRE growth
Bearish
- − Reported GAAP net loss of $116M ($1.41/share) driven by mark-to-market on private wealth profits interest buy-in
- − Management guided commingled fund fee rate to remain relatively flat over the next several quarters to a year
- − Anticipate expiration of approximately $1.5B managed account next quarter with partial offset to ANI from non-controlling interest
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Sell
SellHoldBuy
Technical
Strong Sell
Momentum
Very Weak
Sentiment
Bullish
Fundamentals
Excellent
Quant / Vol
Very High
Market backdrop
VIX 16.3 · calm
Equity put/call 0.53
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−17%
below
Price vs 50-day avg
−9%
below
RSI (14)
37
neutral
MACD trend
Negative
52-week position
11%
near low
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−13%
trailing
6-month return
−7%
trailing
YTD return
−32%
this year
Relative strength
−19%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $48 › 200d $52 — 200d above 50d
Institutional flow
Accumulating
+4% holders QoQ · +55 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
4.42% of float · ▼ -13.9% MoM · 4.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
275 holders — near 3-yr high, broad support
Squeeze score
57
elevated · 0–100
Fundamentals
Revenue growth
+70%
Y/Y
EPS growth
−169%
Y/Y
Free cash flow
$63.9M
Buyback
$72.1M
remaining
Balance sheet
$20.5M
net cash
Quant / Vol
risk profile
Volatility
48%
annualized · 1-yr
Max drawdown
−48%
past year
ATR
4.4%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Technicals
trend & momentum for long-term holders Strong Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−17%
Bearish
Price vs 50-day avg
−9%
Bearish
RSI (14)
37
Neutral
MACD trend
Negative
Bearish
52-week position
11%
Bearish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bullish · 3 of 6
Trend (MA cross)
No cross
50d $48 › 200d $52 — 200d above 50d
Institutional flow
Accumulating
+4% holders QoQ · +55 funds added
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
4.42% of float · ▼ -13.9% MoM · 4.9 days cover
Volume signal
Normal
Volume near normal
Institution breadth
Multi-yr high
275 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $40
Now $43 · 11%
Range high $76
vs 200-day avg -17%
vs 50-day avg -9%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Average FEAUM growth | 20% | the three months ended June 30, 2026 filing | — |
| Average headcount growth | 16% | the three months ended June 30, 2026 filing | — |
| Effective income tax rate | 14.9% | the three months ended June 30, 2026 filing | — |
| Adjusted cash-based compensation non-GAAP | 117.16M | June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP GAAP cash-based compensation 117.23M
-70K Adjustments
= Adjusted cash-based compensation 117.16M
|
|||
| Adjusted equity-based compensation non-GAAP | 6.63M | June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP GAAP equity-based compensation 317.28M
-310.65M Adjustments
= Adjusted equity-based compensation 6.63M
|
|||
| Adjusted general, administrative and other non-GAAP | 41.53M | June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP GAAP general, administrative and other 53.47M
-11.94M Adjustments
= Adjusted general, administrative and other 41.53M
|
|||
| Adjusted net income ("ANI") non-GAAP | 60.3M | FQ1'27 (three months ended June 30, 2026) | +0.0% |
|
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| Adjusted revenues non-GAAP | 300.6M | FQ1'27 (three months ended June 30, 2026) | — |
|
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GAAP → non-GAAP reconciliationGAAP Total revenues 378.89M
-43.98M Unrealized carried interest allocations
+0K Deferred incentive fees
-37.17M Legacy Greenspring carried interest allocations
+1.76M Management and advisory fee revenues for the Consolidated Funds
+1.09M Incentive fees for the Consolidated Funds
= Adjusted revenues 300.6M
|
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| Adjusted weighted-average shares non-GAAP | 125,893,054 | FQ1'27 (three months ended June 30, 2026) | +0.0% |
|
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| Advisory and other services non-GAAP | 19.48M | June 30, 2026 | — |
| ANI per share non-GAAP | $0.48 | FQ1'27 (three months ended June 30, 2026) | +0.0% |
|
|
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| Assets under advisement ("AUA") | 667.9B | FQ1'27 (three months ended June 30, 2026) | — |
|
|
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| Assets under management ("AUM") | 245.4B | FQ1'27 (three months ended June 30, 2026) | — |
|
|
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| Blended statutory rate non-GAAP | 22.6% | June 30, 2026 | — |
| Fee revenues non-GAAP | 270.93M | FQ1'27 (three months ended June 30, 2026) | — |
GAAP → non-GAAP reconciliationGAAP GAAP management and advisory fees, net 269.17M
+1.76M Adjustments
= Fee revenues 270.93M
|
|||
| Fee-earning AUM ("FEAUM") | 153.6B | FQ1'27 (three months ended June 30, 2026) | — |
| Fee-Earning AUM – Focused Commingled Funds ending balance | 70.31B | Three Months Ended June 30, 2026 | — |
| Fee-Earning AUM – Separately Managed Accounts ending balance | 83.25B | Three Months Ended June 30, 2026 | — |
| Fee-Earning AUM – Total ending balance | 153.56B | Three Months Ended June 30, 2026 | — |
| Fee-related earnings ("FRE") non-GAAP | 105.61M | FQ1'27 (three months ended June 30, 2026) | +0.0% |
|
|
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| Focused commingled funds non-GAAP | 172.48M | June 30, 2026 | — |
| FRE attributable to non-controlling interests in subsidiaries non-GAAP | 15.77M | June 30, 2026 | — |
| FRE attributable to non-controlling interests in subsidiaries and profits interests non-GAAP | 39.68M | June 30, 2026 | — |
| FRE attributable to profits interests issued in the private wealth subsidiary non-GAAP | 23.91M | June 30, 2026 | — |
| FRE margin non-GAAP | 39% | FQ1'27 (three months ended June 30, 2026) | — |
| Fund reimbursement revenues non-GAAP | 3.7M | June 30, 2026 | — |
| Gross realized performance fees non-GAAP | 29.66M | FQ1'27 (three months ended June 30, 2026) | +0.0% |
|
|
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| Income-based incentive fees non-GAAP | 7M | June 30, 2026 | — |
| Performance fee-related earnings ("PRE") non-GAAP | 15.8M | FQ1'27 (three months ended June 30, 2026) | +0.0% |
|
|
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| Performance-related earnings / other income (loss) attributable to non-controlling interests in non-GAAP | 1.91M | June 30, 2026 | — |
| Pre-tax ANI non-GAAP | 77.9M | June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Loss before income tax -200.25M
-41.59M Net income attributable to non-controlling interests in subsidiaries
+5.25M Net (income) loss attributable to non-controlling interests in legacy Greenspring entities
-43.98M Unrealized carried interest allocations
+44.69M Unrealized performance fee-related compensation
-9.27M Unrealized investment (income) loss
+1.91M Impact of Consolidated Funds
+0K Deferred incentive fees
+310.65M Equity-based compensation
+10.19M Amortization of intangibles
+0K Tax Receivable Agreements adjustments through earnings
+294K Non-core items
= Pre-tax ANI 77.9M
|
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| Separately managed accounts non-GAAP | 75.28M | June 30, 2026 | — |
| Total capital | 913B | As of June 30, 2026 | — |
| Undeployed fee-earning capital ("UFEC") | 39.3B | FQ1'27 (three months ended June 30, 2026) | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Asset Management — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
STEP
this stock
StepStone Group Inc.
|
$5.35B | -32.4% | +69.7% | — | 4.4% |
|
BLK
BlackRock, Inc.
|
$347.03B | -1.1% | +16.2% | 25.6 | 0.6% |
|
KKR
KKR & Co. Inc.
|
$86.77B | -28.4% | -11.0% | — | 1.5% |
|
BX
Blackstone Inc.
|
$85.57B | -27.3% | +9.2% | 25.6 | 2.6% |
|
BN
BROOKFIELD Corp /ON/
|
$81.46B | -20.5% | — | — | 0.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| STEP | -3.6% | -12.6% | -6.5% | -17.0% | -32.4% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | -3.0% | -12.8% | -18.7% | -16.4% | -44.2% |
Capital returns
Buyback program
· as of Jun 30, 2026
Authorized
$100.00M
Spent (derived)
$27.90M
Remaining
$72.10M
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.