StepStone Group

StepStone Group (STEP) Q4 2026 Earnings

Reported May 20, 2026 at 4:07 PM ET · SEC Source

Q4 26 EPS

$0.57

BEAT +13.46%

Est. $0.50

Q4 26 Revenue

$588.6M

BEAT +101.49%

Est. $292.1M

vs S&P Since Q4 26

-22.6%

TRAILING MARKET

STEP -22.3% vs S&P +0.3%

Full Year 2026 Results

FY 26 EPS

$2.16

BEAT +3.29%

Est. $2.09

FY 26 Revenue

$1.99B

BEAT +57.83%

Est. $1.26B

Market Reaction

Did STEP Beat Earnings? Q4 2026 Results

StepStone Group Inc. Delivered a standout fourth fiscal quarter, posting adjusted earnings per share of $0.57 against a consensus estimate of $0.50, a beat of 13.46%, while revenue of $588.58 million more than doubled analyst expectations of $292.11 … Read more StepStone Group Inc. Delivered a standout fourth fiscal quarter, posting adjusted earnings per share of $0.57 against a consensus estimate of $0.50, a beat of 13.46%, while revenue of $588.58 million more than doubled analyst expectations of $292.11 million and climbed 55.8% year-over-year. The primary engine behind those figures was the firm's continued platform expansion, with total capital responsibility reaching approximately $885.00 billion as of March 31, 2026, up 25% year-over-year, and AUM growing 23% to $233.35 billion across private equity, infrastructure, and private debt. Fee-earning AUM rose 19% to $144.05 billion, while undeployed fee-earning capital surged 63% to $40.10 billion, signaling a robust pipeline for future management fee generation. On a GAAP basis, however, net income contracted sharply to $6.66 million from $13.15 million a year ago, weighed down by substantial equity-based compensation and performance fee-related charges. The board also declared a regular quarterly dividend of $0.28 per share alongside a supplemental dividend of $0.55 per share, both payable June 30, 2026.

Key Takeaways

  • Fee revenues grew 21% YoY to $260.3 million driven by focused commingled funds growth
  • Total capital responsibility increased 25% to approximately $885 billion
  • AUM grew 23% to $233.3 billion
  • Fee-earning AUM grew 19% to $144.0 billion
  • Undeployed fee-earning capital grew 63% to $40.1 billion
  • Full year adjusted revenues grew 36% to $1.32 billion
  • Total performance fees increased 162% for full fiscal year to $1.07 billion
  • Full year gross realized performance fees nearly doubled to $388.5 million
24/7 Wall St

STEP YoY Financials

Q4 2026 vs Q4 2025, source: SEC Filings

24/7 Wall St

STEP Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q4 26