StepStone (STEP) FCF Margin (2019 - 2025)
StepStone (STEP) reported FCF Margin of 3.5% for Q3 2025, down 1579.0% on a YoY basis from 0.24% in Q3 2024, and down 71.76% quarter-over-quarter from 12.4% in Q2 2025.
StepStone (STEP) FCF Margin (2019 - 2025) Analysis & Trends
StepStone has reported FCF Margin for 7 years, with the latest figure at 3.5% in Q3 2025.
- For the quarter ending Q3 2025, FCF Margin fell 1579.0% year-over-year to 3.5%; the trailing twelve-month figure through Sep 2025 stood at 1.23% (down 1442.0% YoY), and the FY2025 full-year result was 5.09%, down 1485.0% from the prior year.
- FCF Margin for Q3 2025 stood at 3.5%, down from 12.4% in the prior quarter.
- The five-year high for FCF Margin was 144.33% in Q4 2023, with the low at 18.32% in Q1 2025.
- Historically, FCF Margin has averaged 30.49% across 5 years, with a median of 19.29% in 2024.
- Annual changes were most pronounced in 2022 — FCF Margin soared 10519 bps — and 2024, when it sank 13636 bps.
- StepStone's FCF Margin stood at 11.24% in 2021, then surged by 935 bps to 116.43% in 2022, then advanced by 24 bps to 144.33% in 2023, then slumped by 94 bps to 7.97% in 2024, then sank by 56 bps to 3.5% in 2025.
- The last three FCF Margin figures came in at 3.5% (Q3 2025), 12.4% (Q2 2025), and 18.32% (Q1 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 163.18 Bn | 153.56 Bn | - | -16.21% |
| 2 | Blackstone | 96.85 Bn | 95.80 Bn | - | 26.47% |
| 3 | Kkr | 86.45 Bn | 133.96 Bn | - | 39.82% |
| 4 | Apollo Global Management | 82.30 Bn | 101.04 Bn | 5.04 Bn | 32.02% |
| 5 | State Street | 46.95 Bn | 21.27 Bn | - | -327.00% |
| 6 | Ameriprise Financial | 43.65 Bn | 43.52 Bn | 4.57 Bn | 8.80% |
| 7 | Northern Trust | 31.92 Bn | 31.92 Bn | - | -24.56% |
| 8 | Raymond James Financial | 30.62 Bn | 19.37 Bn | - | 24.73% |
| 9 | Ares Management | 29.04 Bn | 32.41 Bn | - | 27.99% |
| 10 | StepStone | 3.56 Bn | 4.40 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Sep 30, 2025 | 3.50% |
| Jun 30, 2025 | 12.40% |
| Mar 31, 2025 | -18.32% |
| Dec 31, 2024 | 7.97% |
| Sep 30, 2024 | 19.29% |
| Jun 30, 2024 | 26.61% |
| Mar 31, 2024 | 1.88% |
| Dec 31, 2023 | 144.33% |
| Sep 30, 2023 | 33.58% |
| Jun 30, 2023 | 27.99% |
| Mar 31, 2023 | 1.74% |
| Dec 31, 2022 | 116.43% |
| Sep 30, 2022 | 54.57% |
| Jun 30, 2022 | 73.99% |
| Mar 31, 2022 | 8.73% |
| Dec 31, 2021 | 11.24% |
| Sep 30, 2021 | 21.17% |
| Jun 30, 2021 | 24.15% |
| Mar 31, 2021 | 8.01% |
| Dec 31, 2020 | 15.04% |