Compared to Estimates, StepStone Group (STEP) Q3 Earnings: A Look at Key Metrics

For the quarter ended December 2025, StepStone Group Inc. (STEP) reported revenue of $494.5 million, up 102.8% over the same period last year. EPS came in at $0.65, compared to $0.44 in the year-ago quarter.

The reported revenue represents a surprise of +21.44% over the Zacks Consensus Estimate of $407.21 million. With the consensus EPS estimate being $0.60, the EPS surprise was +9.24%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how StepStone Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Fee-Earning AUM (FEAUM)- Focused Commingled Funds: $58.22 billion versus the three-analyst average estimate of $57.10 billion.
• Fee-Earning AUM (FEAUM)- Total: $138.55 billion compared to the $137.13 billion average estimate based on three analysts.
• Fee-Earning AUM (FEAUM)- Separately managed accounts (SMAs): $80.33 billion versus $80.03 billion estimated by three analysts on average.
• Assets Under Advisement (AUA): $591.34 billion compared to the $566.66 billion average estimate based on two analysts.
• Assets Under Management (AUM): $219.80 billion versus the two-analyst average estimate of $215.68 billion.
• Total revenues- Management and advisory fees, net: $239.93 million versus $235.51 million estimated by two analysts on average.
• Total revenues- Performance fees- Incentive fees: $207.95 million versus $132.14 million estimated by two analysts on average.
• Total revenues- Total performance fees: $346.58 million versus the two-analyst average estimate of $169.45 million.
• Total revenues- Performance fees- Carried interest allocations- Unrealized: $101.99 million versus the two-analyst average estimate of $-5.35 million.
• Total revenues- Total carried interest allocations: $148.69 million versus $37.31 million estimated by two analysts on average.
• Total revenues- Performance fees- Carried interest allocations- Realized: $46.7 million versus the two-analyst average estimate of $42.67 million.

View all Key Company Metrics for StepStone Group here>>>

Shares of StepStone Group have returned -7.3% over the past month versus the Zacks S&P 500 composite's +0.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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