StepStone Group Inc.

STEPNASDAQFinancial Services● Active

$43.26

$-1.65(-3.67%)

Market Cap$5.5B

P/E Ratio—

52W High$77.795

52W Low$40.58

Avg Volume1.1M

Open$45.04

Beta1.28

Free Cash Flow Financials Revenue

StepStone Group Inc. (STEP) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

STEP · free cash flow · updated Jun 8, 2026

Core FCF metrics

STEP · FCF · TTM · margin & CAGR

Free cash flow was $63.9M for FY2026 (fiscal year ending 2026-03-31), up 6.7% year-over-year The FCF margin was 3.2%. Five-year CAGR stands at -15.5%.

FY2026 Free Cash Flow$63.9M▲ +6.7% YoY

Trailing 12M (TTM)$63.9Mtrailing 4 quarters sum

FCF Margin3.2%$63.9M ÷ revenue

3-Year CAGR-24.0%FY2023 → FY2026

5-Year CAGR-15.5%FY2021 → FY2026

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

STEP · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2026Latest$66.5M(3M)$63.9M▲ +6.7%3.2%

FY2025$64.9M(5M)$59.8M▼ 57.8%5.1%

FY2024$161.5M(20M)$141.9M▼ 2.5%19.9%

FY2023$151.2M(6M)$145.6M▼ 31.4%—

FY2022$214.3M(2M)$212.2M▲ +43.3%15.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

STEP · P/FCF · FCF yield · FCF per share

StepStone Group Inc. (STEP) trades at a FCF yield of 1.17% and a price-to-free-cash-flow ratio of 54.1x. FCF per share stands at $0.80, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

1.17%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.80

TTM FCF ÷ Shares Outstanding

Price / FCF

x54.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x88.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2026 · 2026-03-31

Cash flow statement summary

STEP · cash flow statement · operating / investing / financing

For FY2026, StepStone Group Inc. generated $66.5M in operating cash flow and spent 3M in capital expenditures, yielding $63.9M in free cash flow.

Operating Activities

+$66.5M

Cash from core business operations

2026-03-31

Investing Activities

+$732.9M

CapEx, acquisitions & investments

2026-03-31

Financing Activities

+$37.4M

Buybacks, dividends & debt

2026-03-31

FCF FormulaOperating CF ($66.5M) − |CapEx| (3M) = FCF ($63.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

STEP vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

StepStone Group Inc.YOU

STEP

$63.9M+6.7%3.2%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

StepStone Group Inc. (STEP) reported free cash flow of $63.9M for FY2026 (fiscal year ending 2026-03-31), up 6.7% year-over-year. The FCF margin was 3.2%.

Based on available data, StepStone Group Inc. has maintained positive free cash flow for at least 10 fiscal year(s). FCF peaked at $212.2M in FY2022. The 5-year CAGR stands at -15.5%.

StepStone Group Inc.'s FCF yield is 1.17% and price-to-FCF ratio is 54.1x for FY2026, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

STEP free cash flow · 8 questions

StepStone Group Inc. free cash flow was $63.9M for FY2026, up 6.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $63.9M.

STEP free cash flowSTEP FCFSTEP FCF 2026STEP free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · StepStone Group Inc. · StepStone Group Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026