What does income passed through to limited partners mean?

Captures the portion of earnings allocated to limited partners that is passed through directly for tax purposes rather than being taxed at the corporate level. This is a critical metric for understanding the tax burden of pass-through entities or partnership structures.

StepStone Group Inc. STEP Income passed through to limited partners

Income passed through to limited partners at other companies

Ford Motor CompanyF

-11.1%—

Ford Motor CompanyF

$328.25M—

Horace Mann EducatorsHMN

$23.7M+158%

1st Source CorporationSRCE

$10.3M+128%

HCI GroupHCI

$195K+105%

Black Stone MineralsBSM

$0—

Other financials

Income statement

See full

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$3.51B-3.5%

Profitability

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Net margin-26.9%+84.4pp

FCF margin11.8%—

Returns & leverage

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Return on equity-88.8%-97.7pp

Debt / equity2.5×+1.7×

Where this comes from

Reported directly by StepStone Group Inc. in its filing.

Tagged under the XBRL concept step:EffectiveIncomeTaxRateReconciliationIncomePassedThroughToLimitedPartnersAmount.

The official record: StepStone Group Inc.’s 10-K, filed May 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is StepStone Group Inc.'s income passed through to limited partners?: StepStone Group Inc. (STEP) reported income passed through to limited partners of $10.89M in Q1 2026.
What does income passed through to limited partners mean?: Captures the portion of earnings allocated to limited partners that is passed through directly for tax purposes rather than being taxed at the corporate level. This is a critical metric for understanding the tax burden of pass-through entities or partnership structures.