StepStone (STEP) Invested Capital (2019 - 2025)
StepStone posted quarterly Invested Capital of $609.9 million for Q4 2025, down 62.33% year-on-year from $1.6 billion in Q4 2024, and down 25.32% on a QoQ basis from $816.7 million in Q3 2025.
StepStone (STEP) has 7 years of Invested Capital data on file, last reported at $609.9 million in Q4 2025.
- For the quarter ending Q4 2025, Invested Capital fell 62.33% year-over-year to $609.9 million; the trailing twelve-month figure through Dec 2025 stood at $609.9 million (down 62.33% YoY), and the FY2025 full-year result was $448.6 million, down 75.12% from the prior year.
- Invested Capital for Q4 2025 stood at $609.9 million, down from $816.7 million in the prior quarter.
- Across five years, Invested Capital topped out at $2.0 billion in Q2 2024 and bottomed at $448.6 million in Q1 2025.
- The 5-year median for Invested Capital is $1.7 billion (2023), against an average of $1.5 billion.
- The widest annual swing landed in 2021, when Invested Capital jumped 6359889.66%; it then sank 75.12% in 2025.
- A 5-year view of Invested Capital shows it stood at $1.9 billion in 2021, then dropped by 10.23% to $1.7 billion in 2022, then increased by 1.48% to $1.7 billion in 2023, then decreased by 5.51% to $1.6 billion in 2024, then plunged by 62.33% to $609.9 million in 2025.
- The last three Invested Capital figures came in at $609.9 million (Q4 2025), $816.7 million (Q3 2025), and $1.5 billion (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 158.51 Bn | 148.89 Bn | - | 69.22 Bn |
| 2 | Blackstone | 92.68 Bn | 91.63 Bn | - | 8.37 Bn |
| 3 | Kkr | 84.94 Bn | 132.45 Bn | - | 30.50 Bn |
| 4 | Brookfield Asset Management | 77.34 Bn | 77.68 Bn | - | 8.59 Bn |
| 5 | Apollo Global Management | 76.27 Bn | 95.00 Bn | 5.04 Bn | 53.75 Bn |
| 6 | State Street | 44.42 Bn | 18.75 Bn | - | - |
| 7 | Ameriprise Financial | 41.68 Bn | 41.55 Bn | 4.57 Bn | 8.75 Bn |
| 8 | Northern Trust | 31.21 Bn | 31.21 Bn | - | 12.99 Bn |
| 9 | Ares Management | 28.85 Bn | 32.22 Bn | - | 12.75 Bn |
| 10 | StepStone | 3.79 Bn | 4.63 Bn | - | 609.92 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 609.92 Mn |
| Sep 30, 2025 | 816.71 Mn |
| Jun 30, 2025 | 1.50 Bn |
| Mar 31, 2025 | 448.62 Mn |
| Dec 31, 2024 | 1.62 Bn |
| Sep 30, 2024 | 1.96 Bn |
| Jun 30, 2024 | 1.96 Bn |
| Mar 31, 2024 | 1.80 Bn |
| Dec 31, 2023 | 1.71 Bn |
| Sep 30, 2023 | 1.76 Bn |
| Jun 30, 2023 | 1.73 Bn |
| Mar 31, 2023 | 1.73 Bn |
| Dec 31, 2022 | 1.69 Bn |
| Sep 30, 2022 | 1.70 Bn |
| Jun 30, 2022 | 1.81 Bn |
| Mar 31, 2022 | 1.89 Bn |
| Dec 31, 2021 | 1.88 Bn |
| Sep 30, 2021 | 1.84 Bn |
| Jun 30, 2021 | 761.14 Mn |
| Mar 31, 2021 | 659.69 Mn |
| Dec 31, 2020 | 534.14 Mn |
| Sep 30, 2020 | 29,000.00 |
| Jun 30, 2020 | 156.06 Mn |
| Mar 31, 2020 | 359.33 Mn |
| Dec 31, 2019 | 207.99 Mn |
| Sep 30, 2019 | 196.82 Mn |