/
Our Company 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 p…
$43.55
+$0.24 (+0.55%)
EOD Jul 17, 2026
The business is unprofitable at the operating level (-51.33% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 69.7%, still solid. Margins contracted 28.6pp, which offsets some of the top-line progress.
ROIC dropped from -36.49% to -242.87%, capital efficiency is deteriorating. Operating margin contracted 28.6pp YoY, cost discipline may be slipping.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$1.99B
▲ +69.7% YoY
Net Income (TTM)
-$536M
▼ -198.4% YoY
Op. Margin
-51.33%
▼ -28.6pp YoY
ROIC
-242.87%
▼ -206.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$64M
▲ +6.7% YoY
Op. Cash Flow (TTM)
$66M
▲ +2.4% YoY
Net Debt
-$1.02B
Net Cash Position
Cash & Equiv.
$1.12B
5Y CAGR: +20.4%
5Y CAGR: -15.5%
Continue Research
StepStone Group (STEP) trades above a two-stage DCF intrinsic value of about $26.85 per share, so at $43.55 the stock looks overvalued (38.4% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, StepStone Group scores 16/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 3.4%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $26.85 per share for STEP, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $20.14. At today's $43.55, that puts the stock about 38.4% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
StepStone Group scores 16 out of 100 on Intrinsiqq's quality score, a weighted blend of 6 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a -51.3% operating margin and a -242.9% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, StepStone Group pays a regular dividend of about $1.49 per share per year (typically in quarterly installments), a yield of roughly 3.4% at the current price. StepStone Group has grown the dividend at roughly 49.0% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For STEP's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. STEP currently trades above its estimated intrinsic value and scores 16/100 on quality (lower-quality). It also yields about 3.4%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.