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StepStone Group Inc. STEP Carried interest allocations — Total revenues

Other product segments

Focused commingled funds
$170.84M+44.0%
SMAs
$75.28M+7.0%
Advisory and other services
$19.45M-2.4%
Income-based incentive fees
$7M+59.1%
Fund reimbursement revenues
$3.6M+64.7%

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Other financials

Income statement

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Revenue$378.9M+4.0%
Net income-$115.8M-201%
EPS (diluted)-$1.41-188%

Balance sheet

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Cash & equivalents$703.1M+187%
Total debt$391.5M+2.5%
Total equity-$539.2M-450%
Total assets$7.8B+62.4%

Cash flow

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Operating cash flow-$457.5M-1,089%
CapEx$549.0K-49.9%
Free cash flow-$458.1M-1,114%

Valuation

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Market cap$4.14B-9.7%
Enterprise value$3.83B-18.9%
P/S2.1×-1.3×

Profitability

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Net margin-30.5%+112pp
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 us-gaap:Revenues.

The source filing: StepStone Group Inc.’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:02 PM EDT
Fiscal quarter
Q1 FY2027
Calendar quarter
Q2 2026
Accession
0001628280-26-054818
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025
Carried interest allocations:
Realized28,57224,404
Unrealized43,97588,883
Total carried interest allocations72,547113,287
Legacy Greenspring carried interest allocations(1)37,17139,637
Total performance fees109,718153,114
Total revenues378,889364,287
Expenses

Item 1. Financial Statements

FAQ

What is StepStone Group Inc.'s carried interest allocations — total revenues?
StepStone Group Inc. (STEP) reported carried interest allocations — total revenues of $72.55M in Q2 2026.
How has StepStone Group Inc.'s carried interest allocations — total revenues changed year-over-year?
StepStone Group Inc.'s carried interest allocations — total revenues decreased by 36.0% year-over-year, from $113.29M to $72.55M.
What is the long-term trend for StepStone Group Inc.'s carried interest allocations — total revenues?
Over 3 years (2022 to 2026), StepStone Group Inc.'s carried interest allocations — total revenues has grown at a -3.4% compound annual growth rate (CAGR), from $786.57M to $708.29M.
What does carried interest allocations — total revenues mean?
This metric represents the total revenue generated from performance-based fees, commonly known as carried interest, earned by the firm for managing private market investment vehicles. It reflects the firm's ability to generate excess returns for investors, which directly impacts the firm's top-line financial performance. This figure serves as a key indicator of the firm's success in achieving investment objectives across private equity, real estate, and infrastructure portfolios.

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