StepStone Group Inc. STEP
We are a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. 10-K, Item 1
- Employees
- 1,310
- Headquarters
- New York, NY
- Next results
- around Feb 4, 2027
STEP among Financials peers
Six ratios from the latest 10-K. Each corner is the share of 241 peers the company is above, not a score.
What changed
7 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed May 27, 2026 against May 23, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
9 checks on the latest 10-K. Checks, not verdicts.
1fact worth reading about the other 8 checks found nothing to note
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Critical audit matters changedNew this year: Valuation of liability classified awards (“As disclosed in Note 10 to the consolidated financial statements, the Company recognized $2,265.8 million, for liability classified awards within accrued compensation and benefits in the consolidated financial statements. As of March 31, 2026, the Company determined with the assistance of a third-pa”). Same as last year: Valuation of underlying investments of equity method investments
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Receivables +64.8% ($80.9M to $133.3M) vs revenue +69.7% ($1.2B to $2.0B), -4.9 pts apart
7 more checks with nothing to note
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Same auditor in both 10-Ks: Ernst & Young LLP
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
7 paragraphs in Risk Factors that were not in the 10-K filed May 23, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed May 23, 2025 10-K, ITEM 1A
In addition, as part of broader industry dynamics, certain private credit and other products that offer investors periodic liquidity (including through redemption, repurchase or tender offer features), including in the private wealth market, may experience increased investor liquidity requests during periods of market stress or higher…
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Item 1A · new paragraph · not in the 10-K filed May 23, 2025 10-K, ITEM 1A
Our private wealth investment platform is subject to additional regulatory requirements that could adversely impact its profitability. We have been expanding our offerings to individual investors, including through our private wealth platform, and intend to continue doing so. Expanding our product offerings to individual investors may…
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Item 1A · new paragraph · not in the 10-K filed May 23, 2025 10-K, ITEM 1A
Additionally, there is a growing focus on digital asset regulation, with new rules expected to impact the use of cryptocurrencies and blockchain technologies in private fund operations. Any of the foregoing could lead to further regulatory uncertainty, result in changes to our operations and could materially impact our funds and/or…
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Item 1A · new paragraph · not in the 10-K filed May 23, 2025 10-K, ITEM 1A
On March 30, 2026, the DOL proposed a rule establishing a process based “safe harbor” for plan fiduciaries selecting designated investment alternatives for participant directed defined contribution plans. If adopted, the rule could facilitate an ability for individuals to allocate a portion of their 401(k) investments in alternative…
New risk paragraphs, against peers
Latest 10-K of each, Financials companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|
| Revenue | −$67.6M | $711.6M | $1.2B | $2.0B |
| Net income | −$18.4M | $58.1M | −$179.6M | −$535.8M |
| Operating cash flow | $151.2M | $161.5M | $64.9M | $66.5M |
| Free cash flow | $145.6M | $141.9M | $59.8M | $63.9M |
Revenue, FY2019 to FY2026
Ten fiscal years, each from its own 10-K · XBRL · USD
$2.0B ▲ 69.7% in FY2026−$535.8M in FY2026$63.9M ▲ 6.7% in FY2026
Recent filings
3 filings in the last 30 days · SEC EDGAR
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OfficerNov 12, 2026COO change (the “Company”) of his decision to step down as Co-Chief Operating Officer of the Company, effective November 11, 2026 (the “Transition Date”) and, accordingly, ceased to serve as an executive officer of the Company as of such date.
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10-QNov 9, 2026Quarterly report (10-Q) period ended Sep 30, 2026
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8-KNov 5, 2026Quarterly results 8-K item 2.02
About the company
StepStone Group Inc., New York, NY · from the 10-K filed May 27, 2026
We are a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. Our clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. We partner with our clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
- Headquarters
- New York, NY
- Country
- United States
- Reports in
- USD
- Listed on
- Nasdaq
- Fiscal year ends
- March 31
- Last results
- Nov 5, 2026
Employees, at the top of the page: "As of March 31, 2026, we had over 1,310 total employees, including approximately 420 investment professionals and approximately 890 employees across our operating team and implementation teams dedicated to sourcing, executing, analyzing and monitoring private markets opportunities" (10-K). Address and exchange: SEC's company file.
Email alerts
Sources
The 10-K filed May 27, 2026 (open at SEC), compared with the 10-K filed May 23, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/STEP/export.csv") into a cell.