Growth Metrics

StepStone (STEP) Free Cash Flow (2019 - 2025)

StepStone posted quarterly Free Cash Flow of $26.7 million for Q4 2025, down 1.08% year-on-year from $27.0 million in Q4 2024, and up 67.98% on a QoQ basis from $15.9 million in Q3 2025.

StepStone (STEP) has 7 years of Free Cash Flow data on file, last reported at $26.7 million in Q4 2025.

  • For the quarter ending Q4 2025, Free Cash Flow fell 1.08% year-over-year to $26.7 million; the trailing twelve-month figure through Dec 2025 stood at $18.6 million (down 86.27% YoY), and the FY2025 full-year result was $59.8 million, down 57.84% from the prior year.
  • Free Cash Flow for Q4 2025 stood at $26.7 million, up from $15.9 million in the prior quarter.
  • Across five years, Free Cash Flow topped out at $86.5 million in Q3 2022 and bottomed at -$69.2 million in Q1 2025.
  • The 5-year median for Free Cash Flow is $38.5 million (2022), against an average of $33.8 million.
  • The widest annual swing landed in 2021, when Free Cash Flow surged 1217.18%; it then tumbled 1130.5% in 2025.
  • A 5-year view of Free Cash Flow shows it stood at $46.2 million in 2021, then sank by 89.32% to $4.9 million in 2022, then surged by 327.68% to $21.1 million in 2023, then gained by 28.12% to $27.0 million in 2024, then fell by 1.08% to $26.7 million in 2025.
  • The last three Free Cash Flow figures came in at $26.7 million (Q4 2025), $15.9 million (Q3 2025), and $45.2 million (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Free Cash Flow (Qtr)
1 BlackRock 158.51 Bn 148.89 Bn - -1.09 Bn
2 Blackstone 92.68 Bn 91.63 Bn - 957.64 Mn
3 Kkr 84.94 Bn 132.45 Bn - 1.72 Bn
4 Brookfield Asset Management 77.34 Bn 77.68 Bn - 332.00 Mn
5 Apollo Global Management 76.27 Bn 95.00 Bn 5.04 Bn 1.62 Bn
6 State Street 44.42 Bn 18.75 Bn - -12.41 Bn
7 Ameriprise Financial 41.68 Bn 41.55 Bn 4.57 Bn 430.00 Mn
8 Northern Trust 31.21 Bn 31.21 Bn - -329.40 Mn
9 Ares Management 28.85 Bn 32.22 Bn - 390.87 Mn
10 StepStone 3.79 Bn 4.63 Bn - 26.73 Mn

Historic Data

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DateValue
Dec 31, 2025 26.73 Mn
Dec 31, 2025 26.73 Mn
Sep 30, 2025 15.91 Mn
Sep 30, 2025 15.91 Mn
Jun 30, 2025 45.19 Mn
Jun 30, 2025 45.19 Mn
Mar 31, 2025 -69.19 Mn
Mar 31, 2025 -69.19 Mn
Dec 31, 2024 27.02 Mn
Dec 31, 2024 27.02 Mn
Sep 30, 2024 52.40 Mn
Sep 30, 2024 52.40 Mn
Jun 30, 2024 49.60 Mn
Jun 30, 2024 49.60 Mn
Mar 31, 2024 6.71 Mn
Mar 31, 2024 6.71 Mn
Dec 31, 2023 21.09 Mn
Dec 31, 2023 21.09 Mn
Sep 30, 2023 64.28 Mn
Sep 30, 2023 64.28 Mn
Jun 30, 2023 49.83 Mn
Jun 30, 2023 49.83 Mn
Mar 31, 2023 -2.99 Mn
Mar 31, 2023 -2.99 Mn
Dec 31, 2022 4.93 Mn
Dec 31, 2022 4.93 Mn
Sep 30, 2022 86.49 Mn
Sep 30, 2022 86.49 Mn
Jun 30, 2022 57.13 Mn
Jun 30, 2022 57.13 Mn
Mar 31, 2022 31.84 Mn
Mar 31, 2022 31.84 Mn
Dec 31, 2021 46.16 Mn
Dec 31, 2021 46.16 Mn
Sep 30, 2021 59.64 Mn
Sep 30, 2021 59.64 Mn
Jun 30, 2021 74.54 Mn
Jun 30, 2021 74.54 Mn
Mar 31, 2021 28.75 Mn
Mar 31, 2021 28.75 Mn
Dec 31, 2020 37.18 Mn
Dec 31, 2020 37.18 Mn
Sep 30, 2020 53.54 Mn
Sep 30, 2020 53.54 Mn
Jun 30, 2020 28.58 Mn
Jun 30, 2020 28.58 Mn
Mar 31, 2020 -2.57 Mn
Mar 31, 2020 -2.57 Mn
Dec 31, 2019 21.16 Mn
Dec 31, 2019 21.16 Mn