StepStone Group (STEP) Revenue & Revenue Breakdown

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StepStone Group Revenue Highlights

Latest Revenue (Y)

$1.99B

Latest Revenue (Q)

$586.51M

Main Segment (Y)

Management And Advisory Fees, Net

Main Geography (Y)

UNITED STATES

StepStone Group Revenue by Period

StepStone Group Revenue by Year

Date	Revenue	Change
2026-03-31	$1.99B	69.69%
2025-03-31	$1.17B	65.09%
2024-03-31	$711.63M	-1153.11%
2023-03-31	$-67.57M	-104.95%
2022-03-31	$1.37B	73.35%
2021-03-31	$787.72M	76.38%
2020-03-31	$446.61M	74.27%
2019-03-31	$256.27M	-3.03%
2018-03-31	$264.27M	62.07%
2017-03-31	$163.06M	-

StepStone Group generated $1.99B in revenue during NA 2026, up 69.69% compared to the previous quarter, and up 253.09% compared to the same period a year ago.

StepStone Group Revenue by Quarter

Date	Revenue	Change
2025-12-31	$586.51M	29.12%
2025-09-30	$454.23M	24.69%
2025-06-30	$364.29M	-3.56%
2025-03-31	$377.73M	11.42%
2024-12-31	$339.02M	24.79%
2024-09-30	$271.68M	45.75%
2024-06-30	$186.40M	-47.76%
2024-03-31	$356.81M	-2541.90%
2023-12-31	$-14.61M	-107.63%
2023-09-30	$191.42M	7.53%
2023-06-30	$178.01M	3.27%
2023-03-31	$172.37M	-4170.22%
2022-12-31	$-4.24M	-97.33%
2022-09-30	$-158.50M	105.26%
2022-06-30	$-77.22M	-121.17%
2022-03-31	$364.69M	-11.15%
2021-12-31	$410.46M	45.68%
2021-09-30	$281.76M	-8.70%
2021-06-30	$308.61M	-14.05%
2021-03-31	$359.07M	45.28%
2020-12-31	$247.15M	1.74%
2020-09-30	$242.91M	-495.54%
2020-06-30	$-61.41M	-142.66%
2020-03-31	$143.94M	102.13%
2019-12-31	$71.22M	-46.00%
2019-09-30	$131.87M	32.43%
2019-06-30	$99.58M	116.22%
2019-03-31	$46.05M	-34.39%
2018-12-31	$70.20M	-

StepStone Group generated $586.51M in revenue during Q3 2026, up 29.12% compared to the previous quarter, and up 215.89% compared to the same period a year ago.

StepStone Group Revenue Breakdown

StepStone Group Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Mar 26	Mar 25	Mar 24	Mar 22	Mar 21
Management And Advisory Fees, Net	$926.47M	$767.01M	$585.14M	$380.26M	$285.46M
Incentive Fees	$220.13M	$32.27M	$25.34M	$11.59M	$5.47M
Legacy Carried Interest Allocation	$138.71M	$74.34M	$-75.16M	$187.11M	-
Carried Interest Allocation	$708.29M	$301.20M	$176.31M	$786.57M	-
Management And Advisory Fees, Net, Separately Managed Accounts	-	$252.71M	$223.96M	$174.32M	$135.78M
Performance Fees	-	$407.82M	-	-	-
Management And Advisory Fees, Net, Fund Reimbursement Revenues	-	$7.11M	$5.20M	$1.69M	$238.00K
Management And Advisory Fees, Net, Focused Commingled Funds	-	$440.13M	$295.93M	$148.72M	$97.22M
Management And Advisory Fees, Net, Advisory And Other Services	-	$67.06M	$60.06M	$55.52M	$52.22M
Incentive Fees, Separately Managed Accounts	-	$8.88M	$16.29M	$11.44M	$5.45M
Incentive Fees, Focused Commingled Funds	-	$23.40M	$9.04M	$152.00K	$28.00K
Legacy Gross Carried Interest Allocation, Focused Commingled Funds	-	$63.10M	$59.70M	-	-
Legacy Carried Interest Allocation, Separately Managed Accounts	-	$37.00K	$1.03M	-	-
Legacy Carried Interest Allocation, Focused Commingled Funds	-	$74.30M	$-76.19M	$187.11M	-
Carried Interest Allocation, Separately Managed Accounts	-	$171.80M	$142.41M	$555.45M	$359.70M
Carried Interest Allocation, Focused Commingled Funds	-	$129.40M	$33.90M	$231.12M	$137.08M

StepStone Group's latest annual revenue breakdown by segment (product or service), as of Mar 26: Management And Advisory Fees, Net (46.47%), Carried Interest Allocation (35.53%), Incentive Fees (11.04%), and Legacy Carried Interest Allocation (6.96%).

Quarterly Revenue by Product

Product/Service	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21
Incentive Fees	$7.09M	$207.95M	$4.90M	$190.00K	$5.91M	$22.37M	$3.15M	$841.00K	$2.50M	$17.89M	$4.95M	$6.00K	$2.98M	$5.37M	-	$5.59M	$27.00K	$1.80M	$4.18M	$376.00K
Management And Advisory Fees, Net	$259.87M	$239.93M	$215.49M	$211.17M	$213.40M	$190.84M	$184.76M	$178.01M	$291.52M	$151.49M	$142.12M	$128.75M	$119.12M	$116.73M	$112.23M	$106.38M	$83.58M	$78.06M	$76.22M	-
Legacy Carried Interest Allocation	$81.99M	$-10.06M	$27.14M	$39.64M	$61.31M	$8.21M	$13.92M	$-9.09M	$7.15M	$-69.70M	$-12.60M	$-88.92M	$-128.67M	$-153.61M	$82.15M	$104.96M	-	-	-	-
Carried Interest Allocation	$239.63M	$148.69M	$206.69M	$113.29M	$97.11M	$117.61M	$69.85M	$16.63M	$233.65M	$-114.30M	$56.96M	$-47.05M	$-154.31M	$-40.34M	$164.73M	$199.09M	-	-	-	-
Carried Interest Allocation, Unrealized	-	$101.98M	$147.81M	$88.88M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Performance Fees	-	$346.58M	$238.74M	$153.11M	$164.33M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Carried Interest Allocation, Realized	-	$46.70M	$58.88M	$24.40M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Management And Advisory Fees, Net, Focused Commingled Funds	-	-	-	-	$123.53M	$104.89M	$107.27M	$104.44M	$80.17M	$78.43M	$70.32M	$67.01M	$60.68M	$51.55M	$52.74M	$49.55M	$46.52M	$28.50M	$24.15M	$22.98M
Legacy Carried Interest Allocation, Focused Commingled Funds	-	-	-	-	$61.74M	$8.01M	$13.85M	$-9.29M	$6.17M	$-69.66M	$-12.70M	$-88.92M	$-128.67M	$-153.61M	$82.15M	$104.96M	-	-	-	-
Management And Advisory Fees, Net, Advisory And Other Services	-	-	-	-	$19.93M	$17.46M	$14.91M	$14.77M	$16.15M	$16.07M	$13.74M	$14.10M	$13.93M	$13.79M	$12.98M	$14.86M	$15.03M	$12.38M	$13.26M	$12.31M
Incentive Fees, Separately Managed Accounts	-	-	-	-	$5.20M	$2.88M	$800.00K	$2.98M	$8.71M	$4.60M	$6.00K	$5.00K	$5.37M	-	$5.54M	-	$1.79M	$4.11M	$376.00K	-
Incentive Fees, Focused Commingled Funds	-	-	-	-	$707.00K	$22.37M	$280.00K	$41.00K	-	$9.19M	$345.00K	-	$2.98M	-	-	$52.00K	$27.00K	$3.00K	$70.00K	-
Legacy Gross Carried Interest Allocation, Focused Commingled Funds	-	-	-	-	$6.30M	$38.30M	$11.90M	$6.60M	$34.60M	$100.00K	$25.00M	$5.20M	$10.60M	$29.60M	$92.20M	$24.60M	-	-	-	-
Legacy Carried Interest Allocation, Separately Managed Accounts	-	-	-	-	-	$198.00K	$71.00K	$199.00K	$971.00K	$-40.00K	$98.00K	-	-	-	-	-	-	-	-	-
Carried Interest Allocation, Focused Commingled Funds	-	-	-	-	$59.02M	$43.19M	$7.75M	$19.44M	$43.33M	$-21.74M	$12.31M	$-604.00K	$-33.86M	$-2.22M	$45.56M	$65.43M	$66.56M	$53.57M	$81.18M	-
Management And Advisory Fees, Net, Fund Reimbursement Revenues	-	-	-	-	$2.25M	$2.25M	$1.19M	$1.44M	$1.15M	$1.16M	$1.63M	$1.26M	$632.00K	$1.60M	$546.00K	$636.00K	$811.00K	$193.00K	$51.00K	$171.00K
Carried Interest Allocation, Separately Managed Accounts	-	-	-	-	$38.10M	$74.42M	$62.09M	$-2.81M	$190.32M	$-92.55M	$44.64M	$-46.44M	$-120.45M	$-38.13M	$119.17M	$133.66M	$129.83M	$172.79M	$201.29M	-
Management And Advisory Fees, Net, Separately Managed Accounts	-	-	-	-	$67.69M	$66.25M	$61.39M	$57.38M	$55.95M	$55.84M	$56.43M	$55.74M	$53.52M	$52.18M	$50.46M	$47.18M	$44.02M	$42.51M	$40.60M	$40.75M

StepStone Group's latest quarterly revenue breakdown by segment (product or service), as of Mar 26: Management And Advisory Fees, Net (44.15%), Carried Interest Allocation (40.71%), Legacy Carried Interest Allocation (13.93%), and Incentive Fees (1.20%).

StepStone Group Revenue Breakdown by Country

Annual Revenue by Country

Country	Mar 26	Mar 25	Mar 24	Mar 22	Mar 21
UNITED STATES	$1.07B	$521.24M	$191.37M	$428.28M	$166.72M
Non-US	$921.86M	$653.59M	$520.26M	$937.24M	$621.00M
Legacy Carried Interest Allocation, Separately Managed Accounts	-	-	-	-	-
Carried Interest Allocation, Focused Commingled Funds	-	-	-	$231.12M	-
Carried Interest Allocation, Separately Managed Accounts	-	-	-	$555.45M	-
Legacy Carried Interest Allocation	-	-	-	$187.11M	-
Legacy Carried Interest Allocation, Focused Commingled Funds	-	-	-	$187.11M	-
Incentive Fees	-	-	-	$11.59M	-
Carried Interest Allocation	-	-	-	$786.57M	-
Management And Advisory Fees, Net, Separately Managed Accounts	-	-	-	$174.32M	-
Management And Advisory Fees, Net, Fund Reimbursement Revenues	-	-	-	$1.69M	-
Management And Advisory Fees, Net, Focused Commingled Funds	-	-	-	$148.72M	-
Management And Advisory Fees, Net, Advisory And Other Services	-	-	-	$55.52M	-
Management And Advisory Fees, Net	-	-	-	$380.26M	-
Incentive Fees, Separately Managed Accounts	-	-	-	$11.44M	-
Incentive Fees, Focused Commingled Funds	-	-	-	$152.00K	-

StepStone Group's latest annual revenue breakdown by geography, as of Mar 26: UNITED STATES (53.76%), and Non-US (46.24%).

Quarterly Revenue by Country

Country	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Sep 23	Jun 23	Dec 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20
UNITED STATES	$367.94M	$370.74M	$197.05M	$136.01M	$209.06M	$142.37M	$98.05M	$71.76M	$99.26M	$47.02M	$45.09M	$-24.88M	$-106.95M	$145.92M	$170.73M	$60.98M	$50.66M	$69.94M	$44.82M	$46.55M
Non-US	$220.64M	$215.77M	$257.17M	$228.28M	$168.67M	$196.66M	$173.62M	$114.64M	$242.94M	$144.40M	$132.92M	$20.65M	$29.73M	$218.77M	$239.74M	$220.78M	$257.95M	$289.13M	$202.33M	$196.36M

StepStone Group's latest quarterly revenue breakdown by geography, as of Mar 26: UNITED STATES (62.51%), and Non-US (37.49%).

StepStone Group Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
BPOP	Popular	$4.43B	$1.11B
JHG	Janus Henderson Group	$3.10B	$703.10M
AMG	Affiliated Managers Group	$2.45B	$544.90M
CFR	Cullen/Frost Bankers	$2.24B	$577.97M
STEP	StepStone Group	$1.99B	$586.51M
OTF	Blue Owl Technology Finance	$1.10B	$310.52M
HLNE	Hamilton Lane	$758.99M	$198.59M
MAIN	Main Street Capital	$644.50M	$163.54M
OXLC	Oxford Lane Capital	$246.66M	$157.58M
PSEC	Prospect Capital	$200.75M	$123.07M

STEP Revenue FAQ

What is StepStone Group’s yearly revenue?

StepStone Group's yearly revenue for 2026 was $1.99B, representing an increase of 69.69% compared to 2025. The company's yearly revenue for 2025 was $1.17B, representing an increase of 65.09% compared to 2024. STEP's yearly revenue for 2024 was $711.63M, representing a decrease of -1153.11% compared to 2023.

What is StepStone Group’s quarterly revenue?

StepStone Group's quarterly revenue for Q3 2026 was $586.51M, a 29.12% increase from the previous quarter (Q2 2026), and a 73.00% increase year-over-year (Q3 2025). The company's quarterly revenue for Q2 2026 was $454.22M, a 24.69% increase from the previous quarter (Q1 2026), and a 67.19% increase year-over-year (Q2 2025). STEP's quarterly revenue for Q1 2026 was $364.29M, a -3.56% decrease from the previous quarter (Q4 2025), and a 95.43% increase year-over-year (Q1 2025).

What is StepStone Group’s revenue growth rate?

StepStone Group's revenue growth rate for the last 3 years (2024-2026) was 180.15%, and for the last 5 years (2022-2026) was 46.00%.

What are StepStone Group’s revenue streams?

StepStone Group's revenue streams in r 26 are Management And Advisory Fees, Net, Incentive Fees, Legacy Carried Interest Allocation, and Carried Interest Allocation. Management And Advisory Fees, Net generated $926.46M in revenue, accounting 46.47% of the company's total revenue, up 20.79% year-over-year. Incentive Fees generated $220.13M in revenue, accounting 11.04% of the company's total revenue, up 582.05% year-over-year. Legacy Carried Interest Allocation generated $138.71M in revenue, accounting 6.96% of the company's total revenue, up 86.59% year-over-year. Carried Interest Allocation generated $708.29M in revenue, accounting 35.53% of the company's total revenue, up 135.16% year-over-year.

What is StepStone Group’s main source of revenue?

For the fiscal year ending Mar 26, the largest source of revenue of StepStone Group was Management And Advisory Fees, Net. This segment made a revenue of $926.46M, representing 46.47% of the company's total revenue.