StepStone Group (STEP)
NASDAQFinancialsAsset ManagementSnapshot 2026-09-04
$50.92+0.02%
Close 2026-09-04 · 1-day change
NASDAQFinancialsAsset ManagementSnapshot 2026-09-04
QuarterlyIQ Insights · STEP
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance sits well below its industry cohort — worth keeping an eye on, though it has not freshly broken.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | 19.4% |
| Our one-year growth estimate | diamond | -7.4% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the same direction.
Price observations: 365 days
Most sensitive to the broad stock market.
Based on historical daily prices through 2026-09-04.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
A larger daily loss that occurred about once in every 20 trading days.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 26.8 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-09-04 · Compared with 35 industry peers · Company calendar date is not available
STEP — earnings miss
Dated 2026-08-06
of the report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Why it matters: Performance fees are important for revenue. Trends here show profitability and client happiness.
Worry ifPerformance fees increase by more than 20% in the next quarter.
Less concerning ifPerformance fees drop more, showing ongoing issues in making revenue.
Why it matters: The unemployment rate can impact StepStone's clients and how they invest.
Watch forUnemployment rate drops below 4% in the report on August 6.
Also watch forUnemployment rate rises above 5% in the report on August 6.
Why it matters: Successful acquisitions can enhance growth and market position. They are key to expanding services.
Supportive ifThey said the new acquisitions are done.
Worry ifNo acquisitions were announced or there are delays.
Why it matters: Updates on capital allocation can show future growth plans. They can also affect investor trust.
Watch forManagement shares news about new stock sales or acquisitions that boost growth.
Also watch forNo news on money spending or bad comments about recent acquisitions.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$226 on $10,000 · ±2.3% | How much price usually moves either way. |
| Bad day | $495 loss on $10,000 · 4.9% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $4,782 loss on $10,000 · 47.8% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: The sector is easing, and a drop in revenue growth could signal bigger issues for StepStone.
Worry ifStepStone's revenue growth falls below the median of 12% year over year.
Less concerning ifRevenue growth remains at or above the median of 12% year over year.
Why it matters: Slower growth in assets may mean less demand for StepStone's services.
Worry ifAssets under management grow less than 5% YoY in Q1 fiscal 2027.
Less concerning ifAssets under management grow more than 5% YoY in Q1 fiscal 2027.
Why it matters: Updates on capital use may show how management plans to use resources after the deal.
Watch forManagement shares a new plan for capital use or a plan for selling shares.
Also watch forNo news on capital use plans after the acquisition.
Why it matters: This report will show if earnings performance improves after recent misses. Investors will look for signs of recovery.
Watch forNet income per share is over $0.65. This shows strong earnings.
Also watch forNet income per share is below $0.48. This shows ongoing earnings issues.
Why it matters: Higher performance fees mean strong investment results. This can increase revenue and investor trust.
Supportive ifTotal performance fees reported above $350 million in Q1 2026.
Worry ifTotal performance fees reported below $350 million in Q1 2026.
Why it matters: Successful acquisitions can boost growth and market position. They help StepStone expand its abilities.
Supportive ifLook for news on finished strategic acquisitions in the next quarter.
Worry ifNo new acquisitions announced in the next quarter.
Why it matters: New acquisitions can enhance growth and market position. They are a key part of StepStone's growth strategy.
Supportive ifA new acquisition is announced. This is part of a strategy.
Worry ifNo new acquisitions announced within the next quarter.
Why it matters: Changes in dividends may show how confident management is in cash flow and earnings.
Watch forManagement declares a higher dividend than $0.33 per share for Q3 2026.
Also watch forManagement cuts the dividend from $0.33 per share in Q3 2026.
Why it matters: A drop below this level signals ongoing earnings struggles, which is a key concern for investors.
Worry ifAdjusted net income per share reported below $0.48 for Q1.
Less concerning ifAdjusted net income per share reported above $0.48 for Q1.
Why it matters: More assets under management show strong demand for StepStone's services. This helps future revenue.
Supportive ifAssets under management are more than $245 billion.
Worry ifAssets under management are less than $245 billion.
Why it matters: A drop in performance fees shows weak investment performance. This may hurt revenue.
Worry ifPerformance fees reported below $109 million for the next quarter.
Less concerning ifPerformance fees reported above $109 million for the next quarter.
Why it matters: New acquisitions or equity sales can show growth. They can also boost investor confidence.
Supportive ifThere is news about a large purchase or stock sale.
Worry ifThere is no news about money use this quarter.