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StepStone Group Inc. STEP Total incentive fees — Total revenues

Other product segments

Focused commingled funds
$160.45M+29.9%
SMAs
$76.34M+12.8%
Advisory and other services
$20M+0.4%
Income Based Incentive Fees
$7.1M+109%
Fund reimbursement revenues
$3.08M+37.1%

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$161.93M+405%
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LAZIncentive Fees — Revenue
$11.82M+19.3%
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APOIncentive fees — Revenue
$64M+60.0%
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BAMIncentive fees — Revenue
$130M+11.1%

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
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 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 total incentive fees — total revenues?
StepStone Group Inc. (STEP) reported total incentive fees — total revenues of $7.09M in Q1 2026.
How has StepStone Group Inc.'s total incentive fees — total revenues changed year-over-year?
StepStone Group Inc.'s total incentive fees — total revenues increased by 19.9% year-over-year, from $5.91M to $7.09M.
What is the long-term trend for StepStone Group Inc.'s total incentive fees — total revenues?
Over 4 years (2022 to 2026), StepStone Group Inc.'s total incentive fees — total revenues has grown at a 108.8% compound annual growth rate (CAGR), from $11.59M to $220.18M.
What does total incentive fees — total revenues mean?
This metric represents the total revenue generated from performance-based fees earned by managing private market investment portfolios. It reflects the firm's ability to generate returns for clients that exceed specified benchmarks or hurdles, serving as a key indicator of investment performance and value creation. As a variable revenue stream, it highlights the firm's success in capturing upside from its private equity, real estate, and infrastructure investment strategies.