What is StepStone Group Inc.'s free cash flow margin?

StepStone Group Inc. (STEP) reported free cash flow margin of 11.8% in Q4 2024.

What is the long-term trend for StepStone Group Inc.'s free cash flow margin?

Over 2 years (2021 to 2024), StepStone Group Inc.'s free cash flow margin has grown at a 3.0% compound annual growth rate (CAGR), from 18.8% to 19.9%.

What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

StepStone Group Inc. STEP Free cash flow margin

Free cash flow margin at other companies

BlackstoneBX

29.9%+2.1pp

Hamilton LaneHLNE

55.2%+14.7pp

BlackrockBLK

14.3%-4.6pp

State StreetSTT

-25.9%—

Federated HermesFHI

16.4%-4.2pp

Janus Henderson GroupJHG

29.7%+2.5pp

Other financials

Income statement

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Revenue$588.6M+55.8%

Net income-$7.8M+57.9%

EPS (diluted)-$0.06+70.0%

Balance sheet

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Cash & equivalents$378.0M+35.2%

Total debt$103.6M-72.9%

Total equity-$413.6M-331%

Total assets$6.8B+47.4%

Cash flow

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Operating cash flow$27.2M-1.5%

CapEx$762.0K-71.4%

Free cash flow$26.7M-1.1%

Valuation

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Market cap$3.69B-3.5%

P/S1.9×-1.4×

Profitability

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Net margin-26.9%+84.4pp

Returns & leverage

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Return on equity-88.8%-97.7pp

Debt / equity2.5×+1.7×

Where this comes from

Calculated from StepStone Group Inc.’s reported figures.

free cash flow/total revenue=11.8%

Based on trailing twelve months.

The official record: StepStone Group Inc.’s 10-Q, filed February 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is StepStone Group Inc.'s free cash flow margin?: StepStone Group Inc. (STEP) reported free cash flow margin of 11.8% in Q4 2024.
What is the long-term trend for StepStone Group Inc.'s free cash flow margin?: Over 2 years (2021 to 2024), StepStone Group Inc.'s free cash flow margin has grown at a 3.0% compound annual growth rate (CAGR), from 18.8% to 19.9%.
What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.