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Side-by-side financial comparison of Allegiant Travel CO (ALGT) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
Allegiant Travel CO is the larger business by last-quarter revenue ($595.5M vs $586.5M, roughly 1.0× StepStone Group Inc.). Allegiant Travel CO runs the higher net margin — 5.4% vs -21.0%, a 26.4% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 7.6%). Allegiant Travel CO produced more free cash flow last quarter ($90.4M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 1.3%).
Allegiant Air, styled as allegiant, is an American low-cost airline headquartered in Las Vegas, Nevada. The airline focuses on serving leisure traffic from small and medium-sized cities which it considers to be underserved, using an ultra low-cost business model with minimal inclusions in fares and a greater number of add-on fees.
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.
ALGT vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $595.5M | $586.5M |
| Net Profit | $31.9M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | 11.2% | -33.2% |
| Net Margin | 5.4% | -21.0% |
| Revenue YoY | 7.6% | 73.0% |
| Net Profit YoY | 114.8% | 35.7% |
| EPS (diluted) | $1.82 | $-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.
| Q4 25 | $595.5M | $586.5M | ||
| Q3 25 | $494.1M | $454.2M | ||
| Q2 25 | $617.9M | $364.3M | ||
| Q1 25 | $616.8M | $377.7M | ||
| Q4 24 | $553.6M | $339.0M | ||
| Q3 24 | $489.0M | $271.7M | ||
| Q2 24 | $594.5M | $186.4M | ||
| Q1 24 | $579.9M | $356.8M |
| Q4 25 | $31.9M | $-123.5M | ||
| Q3 25 | $-43.6M | $-366.1M | ||
| Q2 25 | $-65.2M | $-38.4M | ||
| Q1 25 | $32.1M | $-18.5M | ||
| Q4 24 | $-216.2M | $-192.0M | ||
| Q3 24 | $-36.8M | $17.6M | ||
| Q2 24 | $13.7M | $13.3M | ||
| Q1 24 | $-919.0K | $30.8M |
| Q4 25 | 11.2% | -33.2% | ||
| Q3 25 | -5.5% | -148.8% | ||
| Q2 25 | -10.9% | -5.6% | ||
| Q1 25 | 10.5% | 2.6% | ||
| Q4 24 | -47.7% | -101.7% | ||
| Q3 24 | -5.4% | 21.3% | ||
| Q2 24 | 5.9% | 29.4% | ||
| Q1 24 | 2.7% | 26.5% |
| Q4 25 | 5.4% | -21.0% | ||
| Q3 25 | -8.8% | -80.6% | ||
| Q2 25 | -10.5% | -10.5% | ||
| Q1 25 | 5.2% | -4.9% | ||
| Q4 24 | -39.1% | -56.6% | ||
| Q3 24 | -7.5% | 6.5% | ||
| Q2 24 | 2.3% | 7.2% | ||
| Q1 24 | -0.2% | 8.6% |
| Q4 25 | $1.82 | $-1.55 | ||
| Q3 25 | $-2.41 | $-4.66 | ||
| Q2 25 | $-3.62 | $-0.49 | ||
| Q1 25 | $1.73 | $-0.37 | ||
| Q4 24 | $-12.12 | $-2.61 | ||
| Q3 24 | $-2.05 | $0.26 | ||
| Q2 24 | $0.75 | $0.20 | ||
| Q1 24 | $-0.07 | $0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $805.7M | — |
| Total DebtLower is stronger | $1.7B | $270.2M |
| Stockholders' EquityBook value | $1.1B | $-378.8M |
| Total Assets | $4.2B | $5.2B |
| Debt / EquityLower = less leverage | 1.60× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $805.7M | — | ||
| Q3 25 | $956.7M | — | ||
| Q2 25 | $842.8M | — | ||
| Q1 25 | $878.6M | — | ||
| Q4 24 | $781.1M | — | ||
| Q3 24 | $759.3M | — | ||
| Q2 24 | $791.9M | — | ||
| Q1 24 | $809.9M | — |
| Q4 25 | $1.7B | $270.2M | ||
| Q3 25 | $1.8B | $269.9M | ||
| Q2 25 | $1.8B | $269.6M | ||
| Q1 25 | $1.7B | $269.3M | ||
| Q4 24 | $1.6B | $168.9M | ||
| Q3 24 | $1.8B | $172.3M | ||
| Q2 24 | $1.7B | $172.1M | ||
| Q1 24 | $1.8B | $148.8M |
| Q4 25 | $1.1B | $-378.8M | ||
| Q3 25 | $1.0B | $-233.5M | ||
| Q2 25 | $1.1B | $153.9M | ||
| Q1 25 | $1.1B | $179.4M | ||
| Q4 24 | $1.1B | $209.8M | ||
| Q3 24 | $1.3B | $397.5M | ||
| Q2 24 | $1.3B | $366.9M | ||
| Q1 24 | $1.3B | $324.5M |
| Q4 25 | $4.2B | $5.2B | ||
| Q3 25 | $4.4B | $5.3B | ||
| Q2 25 | $4.4B | $4.8B | ||
| Q1 25 | $4.5B | $4.6B | ||
| Q4 24 | $4.4B | $4.3B | ||
| Q3 24 | $4.8B | $4.0B | ||
| Q2 24 | $4.9B | $3.8B | ||
| Q1 24 | $4.9B | $3.8B |
| Q4 25 | 1.60× | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 1.68× | 1.75× | ||
| Q1 25 | 1.57× | 1.50× | ||
| Q4 24 | 1.48× | 0.81× | ||
| Q3 24 | 1.36× | 0.43× | ||
| Q2 24 | 1.30× | 0.47× | ||
| Q1 24 | 1.35× | 0.46× |
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 | $112.2M | $27.2M |
| Free Cash FlowOCF − Capex | $90.4M | $26.7M |
| FCF MarginFCF / Revenue | 15.2% | 4.6% |
| Capex IntensityCapex / Revenue | 3.7% | 0.1% |
| Cash ConversionOCF / Net Profit | 3.51× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $112.2M | $27.2M | ||
| Q3 25 | $-6.1M | $16.2M | ||
| Q2 25 | $92.2M | $46.3M | ||
| Q1 25 | $191.4M | $-66.5M | ||
| Q4 24 | $84.4M | $27.6M | ||
| Q3 24 | $17.3M | $53.7M | ||
| Q2 24 | $68.9M | $50.2M | ||
| Q1 24 | $167.8M | $7.6M |
| Q4 25 | $90.4M | $26.7M | ||
| Q3 25 | $-121.7M | $15.9M | ||
| Q2 25 | $-10.5M | $45.2M | ||
| Q1 25 | $116.9M | $-69.2M | ||
| Q4 24 | $24.0M | $27.0M | ||
| Q3 24 | $-28.7M | $52.4M | ||
| Q2 24 | $7.0M | $49.6M | ||
| Q1 24 | $35.9M | $6.7M |
| Q4 25 | 15.2% | 4.6% | ||
| Q3 25 | -24.6% | 3.5% | ||
| Q2 25 | -1.7% | 12.4% | ||
| Q1 25 | 19.0% | -18.3% | ||
| Q4 24 | 4.3% | 8.0% | ||
| Q3 24 | -5.9% | 19.3% | ||
| Q2 24 | 1.2% | 26.6% | ||
| Q1 24 | 6.2% | 1.9% |
| Q4 25 | 3.7% | 0.1% | ||
| Q3 25 | 23.4% | 0.1% | ||
| Q2 25 | 16.6% | 0.3% | ||
| Q1 25 | 12.1% | 0.7% | ||
| Q4 24 | 10.9% | 0.2% | ||
| Q3 24 | 9.4% | 0.5% | ||
| Q2 24 | 10.4% | 0.3% | ||
| Q1 24 | 22.7% | 0.3% |
| Q4 25 | 3.51× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.96× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.05× | ||
| Q2 24 | 5.03× | 3.76× | ||
| Q1 24 | — | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALGT
| Airrelatedrevenue | $307.1M | 52% |
| Scheduled Service Revenue | $267.1M | 45% |
| Cobrand Revenue | $21.3M | 4% |
| Other | $1.0K | 0% |
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% |
