StepStone (STEP) Accumulated Expenses (2020 - 2026)
StepStone's (STEP) quarterly Accumulated Expenses came in at $2.4 billion in Q4 2025, up 248.28% YoY from $690.3 million in Q4 2024, and up 31.65% on a QoQ basis from $1.8 billion in Q3 2025.
StepStone (STEP) Accumulated Expenses (2020 - 2026) Analysis & Trends
StepStone (STEP) has 6 years of Accumulated Expenses data on file, last reported at $2.4 billion in Q4 2025.
- Quarterly Accumulated Expenses rose 248.28% year-over-year to $2.4 billion in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $2.4 billion (up 248.28% YoY) and the FY2025 annual result came in at $736.7 million, up 625.94% from the prior year.
- Accumulated Expenses grew to $2.4 billion in Q4 2025, from $1.8 billion in the prior quarter.
- In the past five years, Accumulated Expenses ranged from a high of $2.4 billion in Q4 2025 to a low of $34.2 million in Q1 2021.
- A 5-year average of $393.7 million and a median of $97.0 million in 2023 frame the typical range for Accumulated Expenses.
- Annual changes were most pronounced in 2022 — Accumulated Expenses increased 15.23% — and 2025, when it jumped 941.42%.
- Tracing STEP's Accumulated Expenses over 5 years: stood at $60.3 million in 2021, then surged by 30.89% to $78.9 million in 2022, then jumped by 66.91% to $131.7 million in 2023, then jumped by 424.02% to $690.3 million in 2024, then jumped by 248.28% to $2.4 billion in 2025.
- The last three Accumulated Expenses figures came in at $2.4 billion (Q4 2025), $1.8 billion (Q3 2025), and $943.0 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | BlackRock | 179.54 Bn | 165.67 Bn | - |
| 2 | Blackstone | 114.83 Bn | 112.32 Bn | - |
| 3 | Kkr | 97.26 Bn | -179.81 Bn | - |
| 4 | Brookfield | 93.07 Bn | 45.66 Bn | - |
| 5 | Brookfield Asset Management | 83.46 Bn | 81.96 Bn | - |
| 6 | Apollo Global Management | 78.41 Bn | 53.04 Bn | 10.54 Bn |
| 7 | State Street | 51.66 Bn | 51.66 Bn | - |
| 8 | Ameriprise Financial | 51.12 Bn | 40.07 Bn | 4.72 Bn |
| 9 | Raymond James Financial | 33.99 Bn | 20.74 Bn | - |
| 10 | StepStone | 3.96 Bn | 3.06 Bn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 2.36 Bn |
| Dec 31, 2025 | 2.40 Bn |
| Sep 30, 2025 | 1.83 Bn |
| Jun 30, 2025 | 943.01 Mn |
| Mar 31, 2025 | 736.70 Mn |
| Dec 31, 2024 | 690.32 Mn |
| Sep 30, 2024 | 175.36 Mn |
| Jun 30, 2024 | 124.97 Mn |
| Mar 31, 2024 | 101.48 Mn |
| Dec 31, 2023 | 131.74 Mn |
| Sep 30, 2023 | 110.41 Mn |
| Jun 30, 2023 | 92.52 Mn |
| Mar 31, 2023 | 66.61 Mn |
| Dec 31, 2022 | 78.93 Mn |
| Sep 30, 2022 | 75.47 Mn |
| Jun 30, 2022 | 58.81 Mn |
| Mar 31, 2022 | 46.40 Mn |
| Dec 31, 2021 | 60.30 Mn |
| Sep 30, 2021 | 65.49 Mn |
| Jun 30, 2021 | 51.00 Mn |