StepStone (STEP) Net Margin (2020 - 2025)
StepStone (STEP) reported Net Margin of -80.61% for fiscal Q2 2026 (quarter ended Sep 30, 2025), down 87.10 percentage points from 6.49% a year earlier and down 70.06 percentage points from the prior quarter.
StepStone (STEP) Net Margin (2020 - 2025) Analysis & Trends
Over the twelve months ended Sep 30, 2025, StepStone's Net Margin came in at -40.06%, down 45.07 percentage points year-over-year; for FY2025 (ended Mar 31, 2025), it came in at -15.28%, down 23.45 percentage points from FY2024.
- Net Margin has a four-year change of -23.24 percentage points (FY2021 to FY2025).
- By fiscal year, Net Margin came in at 8.16% in FY2024 (+35.39 pp), -27.23% in FY2023 (-41.43 pp), 14.20% in FY2022 (+6.25 pp) and 7.95% in FY2021.
- The fiscal Q2 2026 figure ranks as the lowest quarterly Net Margin since fiscal Q3 2024.
- Year over year, Net Margin has now declined in each of the last three quarters, with an average year-over-year change of -3.31 percentage points over the last seven quarters.
- The high point for year-over-year Net Margin in five years was fiscal Q3 2025 (a gain of 81.78 percentage points); the low point was fiscal Q3 2023 (a drop of 175.60 percentage points).
- Per Business Quant data, the three fiscal quarters before Q2 2026 came in at -10.55% (Q1 2026), -4.90% (Q4 2025) and -56.64% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 165.57 Bn | 111.92 Bn | - | 27.02% |
| 2 | Spdr Gold Trust | 134.78 Bn | -423.22 Bn | - | - |
| 3 | Blackstone | 85.82 Bn | 80.74 Bn | - | 24.37% |
| 4 | Kkr | 83.68 Bn | 50.16 Bn | - | 11.53% |
| 5 | Brookfield | 82.01 Bn | -83.38 Bn | 4.47 Bn | 0.00% |
| 6 | Brookfield Asset Management | 71.83 Bn | 68.08 Bn | - | 51.57% |
| 7 | Apollo Global Management | 68.53 Bn | 6.22 Bn | 10.56 Bn | 11.98% |
| 8 | Wheaton Precious Metals | 61.44 Bn | 56.87 Bn | 687.86 Mn | 58.46% |
| 9 | Franco Nevada | 47.81 Bn | 45.18 Bn | 451.00 Mn | 60.94% |
| 10 | StepStone | 5.14 Bn | 4.44 Bn | - | - |
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | -80.61% |
| Jun 30, 2025 | -10.55% |
| Mar 31, 2025 | -4.90% |
| Dec 31, 2024 | -56.64% |
| Sep 30, 2024 | 6.49% |
| Jun 30, 2024 | 7.15% |
| Mar 31, 2024 | 8.64% |
| Dec 31, 2023 | -138.42% |
| Sep 30, 2023 | 13.70% |
| Jun 30, 2023 | 11.95% |
| Dec 31, 2022 | -163.83% |
| Sep 30, 2022 | -18.44% |
| Jun 30, 2022 | -14.30% |
| Mar 31, 2022 | 11.47% |
| Dec 31, 2021 | 11.78% |
| Sep 30, 2021 | 22.03% |
| Jun 30, 2021 | 13.50% |
| Mar 31, 2021 | 10.54% |
| Dec 31, 2020 | 10.35% |
| Sep 30, 2020 | -0.33% |
StepStone Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=STEP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "STEP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=STEP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();