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Side-by-side financial comparison of Acadia Healthcare Company, Inc. (ACHC) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
Acadia Healthcare Company, Inc. is the larger business by last-quarter revenue ($829.0M vs $586.5M, roughly 1.4× StepStone Group Inc.). Acadia Healthcare Company, Inc. runs the higher net margin — 0.5% vs -21.0%, a 21.6% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 7.5%). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 2.0%).
Acadia Healthcare Company, Inc. is an American provider of for-profit behavioral healthcare services. It operates a network of over 225 facilities across the United States and Puerto Rico.
Rosetta Stone Inc. is an American education technology software company that develops language, literacy and brain-fitness software. Best known for its language-learning products, in 2013, the company expanded beyond language into education-technology with its acquisitions of Livemocha, Lexia Learning, Fit Brains, and Tell Me More. In 2021, it became a subsidiary of IXL Learning.
ACHC vs STEP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $829.0M | $586.5M |
| Net Profit | $4.5M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | — | -33.2% |
| Net Margin | 0.5% | -21.0% |
| Revenue YoY | 7.5% | 73.0% |
| Net Profit YoY | -50.8% | 35.7% |
| EPS (diluted) | $0.05 | $-1.55 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $829.0M | — | ||
| Q4 25 | $821.5M | $586.5M | ||
| Q3 25 | $851.6M | $454.2M | ||
| Q2 25 | $869.2M | $364.3M | ||
| Q1 25 | $770.5M | $377.7M | ||
| Q4 24 | $774.2M | $339.0M | ||
| Q3 24 | $815.6M | $271.7M | ||
| Q2 24 | $796.0M | $186.4M |
| Q1 26 | $4.5M | — | ||
| Q4 25 | $-1.2B | $-123.5M | ||
| Q3 25 | $36.2M | $-366.1M | ||
| Q2 25 | $30.1M | $-38.4M | ||
| Q1 25 | $8.4M | $-18.5M | ||
| Q4 24 | $32.6M | $-192.0M | ||
| Q3 24 | $68.1M | $17.6M | ||
| Q2 24 | $78.5M | $13.3M |
| Q1 26 | — | — | ||
| Q4 25 | -142.4% | -33.2% | ||
| Q3 25 | 4.7% | -148.8% | ||
| Q2 25 | 5.8% | -5.6% | ||
| Q1 25 | 1.7% | 2.6% | ||
| Q4 24 | 4.9% | -101.7% | ||
| Q3 24 | 12.1% | 21.3% | ||
| Q2 24 | 13.4% | 29.4% |
| Q1 26 | 0.5% | — | ||
| Q4 25 | -143.3% | -21.0% | ||
| Q3 25 | 4.3% | -80.6% | ||
| Q2 25 | 3.5% | -10.5% | ||
| Q1 25 | 1.1% | -4.9% | ||
| Q4 24 | 4.2% | -56.6% | ||
| Q3 24 | 8.4% | 6.5% | ||
| Q2 24 | 9.9% | 7.2% |
| Q1 26 | $0.05 | — | ||
| Q4 25 | $-12.98 | $-1.55 | ||
| Q3 25 | $0.40 | $-4.66 | ||
| Q2 25 | $0.33 | $-0.49 | ||
| Q1 25 | $0.09 | $-0.37 | ||
| Q4 24 | $0.36 | $-2.61 | ||
| Q3 24 | $0.74 | $0.26 | ||
| Q2 24 | $0.85 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $158.5M | — |
| Total DebtLower is stronger | $2.5B | $270.2M |
| Stockholders' EquityBook value | $2.0B | $-378.8M |
| Total Assets | $5.5B | $5.2B |
| Debt / EquityLower = less leverage | 1.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $158.5M | — | ||
| Q4 25 | $133.2M | — | ||
| Q3 25 | $118.7M | — | ||
| Q2 25 | $131.4M | — | ||
| Q1 25 | $91.2M | — | ||
| Q4 24 | $76.3M | — | ||
| Q3 24 | $82.1M | — | ||
| Q2 24 | $77.2M | — |
| Q1 26 | $2.5B | — | ||
| Q4 25 | $2.5B | $270.2M | ||
| Q3 25 | $2.3B | $269.9M | ||
| Q2 25 | $2.3B | $269.6M | ||
| Q1 25 | $2.2B | $269.3M | ||
| Q4 24 | $2.0B | $168.9M | ||
| Q3 24 | $1.9B | $172.3M | ||
| Q2 24 | $1.8B | $172.1M |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.9B | $-378.8M | ||
| Q3 25 | $3.1B | $-233.5M | ||
| Q2 25 | $3.1B | $153.9M | ||
| Q1 25 | $3.0B | $179.4M | ||
| Q4 24 | $3.1B | $209.8M | ||
| Q3 24 | $3.0B | $397.5M | ||
| Q2 24 | $3.0B | $366.9M |
| Q1 26 | $5.5B | — | ||
| Q4 25 | $5.5B | $5.2B | ||
| Q3 25 | $6.4B | $5.3B | ||
| Q2 25 | $6.3B | $4.8B | ||
| Q1 25 | $6.1B | $4.6B | ||
| Q4 24 | $6.0B | $4.3B | ||
| Q3 24 | $5.9B | $4.0B | ||
| Q2 24 | $5.7B | $3.8B |
| Q1 26 | 1.29× | — | ||
| Q4 25 | 1.28× | — | ||
| Q3 25 | 0.74× | — | ||
| Q2 25 | 0.74× | 1.75× | ||
| Q1 25 | 0.72× | 1.50× | ||
| Q4 24 | 0.64× | 0.81× | ||
| Q3 24 | 0.62× | 0.43× | ||
| Q2 24 | 0.62× | 0.47× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $61.5M | $27.2M |
| Free Cash FlowOCF − Capex | — | $26.7M |
| FCF MarginFCF / Revenue | — | 4.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 13.78× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $61.5M | — | ||
| Q4 25 | $-86.3M | $27.2M | ||
| Q3 25 | $73.2M | $16.2M | ||
| Q2 25 | $133.5M | $46.3M | ||
| Q1 25 | $11.5M | $-66.5M | ||
| Q4 24 | $116.7M | $27.6M | ||
| Q3 24 | $163.1M | $53.7M | ||
| Q2 24 | $171.1M | $50.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-179.5M | $26.7M | ||
| Q3 25 | $-63.0M | $15.9M | ||
| Q2 25 | $-34.2M | $45.2M | ||
| Q1 25 | $-163.2M | $-69.2M | ||
| Q4 24 | $-86.8M | $27.0M | ||
| Q3 24 | $-27.1M | $52.4M | ||
| Q2 24 | $16.9M | $49.6M |
| Q1 26 | — | — | ||
| Q4 25 | -21.8% | 4.6% | ||
| Q3 25 | -7.4% | 3.5% | ||
| Q2 25 | -3.9% | 12.4% | ||
| Q1 25 | -21.2% | -18.3% | ||
| Q4 24 | -11.2% | 8.0% | ||
| Q3 24 | -3.3% | 19.3% | ||
| Q2 24 | 2.1% | 26.6% |
| Q1 26 | — | — | ||
| Q4 25 | 11.3% | 0.1% | ||
| Q3 25 | 16.0% | 0.1% | ||
| Q2 25 | 19.3% | 0.3% | ||
| Q1 25 | 22.7% | 0.7% | ||
| Q4 24 | 26.3% | 0.2% | ||
| Q3 24 | 23.3% | 0.5% | ||
| Q2 24 | 19.4% | 0.3% |
| Q1 26 | 13.78× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 2.02× | — | ||
| Q2 25 | 4.43× | — | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | 3.58× | — | ||
| Q3 24 | 2.39× | 3.05× | ||
| Q2 24 | 2.18× | 3.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACHC
| Acute Inpatient Psychiatric Facilities | $471.0M | 57% |
| Other | $140.0M | 17% |
| Specialty Treatment Facilities | $128.0M | 15% |
| Residential Treatment Facilities | $90.0M | 11% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
