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Side-by-side financial comparison of APOGEE ENTERPRISES, INC. (APOG) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
StepStone Group Inc. is the larger business by last-quarter revenue ($586.5M vs $351.4M, roughly 1.7× APOGEE ENTERPRISES, INC.). APOGEE ENTERPRISES, INC. runs the higher net margin — 4.7% vs -21.0%, a 25.8% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 1.6%). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 2.9%).
Apogee Electronics is an American manufacturer of audio interfaces, analog-to-digital and digital-to-analog converters, USB & iOS microphones, and audio production software.
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.
APOG vs STEP — Head-to-Head
Income Statement — Q4 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $351.4M | $586.5M |
| Net Profit | $16.6M | $-123.5M |
| Gross Margin | 22.4% | — |
| Operating Margin | 7.3% | -33.2% |
| Net Margin | 4.7% | -21.0% |
| Revenue YoY | 1.6% | 73.0% |
| Net Profit YoY | 568.8% | 35.7% |
| EPS (diluted) | $0.78 | $-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 | $351.4M | — | ||
| Q4 25 | $348.6M | $586.5M | ||
| Q3 25 | $358.2M | $454.2M | ||
| Q2 25 | $346.6M | $364.3M | ||
| Q1 25 | $345.7M | $377.7M | ||
| Q4 24 | $341.3M | $339.0M | ||
| Q3 24 | $342.4M | $271.7M | ||
| Q2 24 | $331.5M | $186.4M |
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $-123.5M | ||
| Q3 25 | $23.6M | $-366.1M | ||
| Q2 25 | $-2.7M | $-38.4M | ||
| Q1 25 | $2.5M | $-18.5M | ||
| Q4 24 | $21.0M | $-192.0M | ||
| Q3 24 | $30.6M | $17.6M | ||
| Q2 24 | $31.0M | $13.3M |
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | — | ||
| Q3 25 | 23.1% | — | ||
| Q2 25 | 21.7% | — | ||
| Q1 25 | 21.6% | — | ||
| Q4 24 | 26.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 29.8% | — |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | -33.2% | ||
| Q3 25 | 7.5% | -148.8% | ||
| Q2 25 | 2.0% | -5.6% | ||
| Q1 25 | 1.8% | 2.6% | ||
| Q4 24 | 8.4% | -101.7% | ||
| Q3 24 | 12.3% | 21.3% | ||
| Q2 24 | 12.5% | 29.4% |
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | -21.0% | ||
| Q3 25 | 6.6% | -80.6% | ||
| Q2 25 | -0.8% | -10.5% | ||
| Q1 25 | 0.7% | -4.9% | ||
| Q4 24 | 6.1% | -56.6% | ||
| Q3 24 | 8.9% | 6.5% | ||
| Q2 24 | 9.4% | 7.2% |
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $-1.55 | ||
| Q3 25 | $1.10 | $-4.66 | ||
| Q2 25 | $-0.13 | $-0.49 | ||
| Q1 25 | $0.12 | $-0.37 | ||
| Q4 24 | $0.96 | $-2.61 | ||
| Q3 24 | $1.40 | $0.26 | ||
| Q2 24 | $1.41 | $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 | $39.5M | — |
| Total DebtLower is stronger | $232.3M | $270.2M |
| Stockholders' EquityBook value | $511.8M | $-378.8M |
| Total Assets | $1.1B | $5.2B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | — | ||
| Q3 25 | $39.5M | — | ||
| Q2 25 | $32.8M | — | ||
| Q1 25 | $41.4M | — | ||
| Q4 24 | $43.9M | — | ||
| Q3 24 | $51.0M | — | ||
| Q2 24 | $30.4M | — |
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | $285.0M | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M |
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | $-378.8M | ||
| Q3 25 | $500.2M | $-233.5M | ||
| Q2 25 | $481.8M | $153.9M | ||
| Q1 25 | $487.9M | $179.4M | ||
| Q4 24 | $522.1M | $209.8M | ||
| Q3 24 | $506.4M | $397.5M | ||
| Q2 24 | $480.0M | $366.9M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $5.2B | ||
| Q3 25 | $1.2B | $5.3B | ||
| Q2 25 | $1.2B | $4.8B | ||
| Q1 25 | $1.2B | $4.6B | ||
| Q4 24 | $1.2B | $4.3B | ||
| Q3 24 | $917.1M | $4.0B | ||
| Q2 24 | $889.0M | $3.8B |
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | 0.58× | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 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 | $122.5M | $27.2M |
| Free Cash FlowOCF − Capex | — | $26.7M |
| FCF MarginFCF / Revenue | — | 4.6% |
| Capex IntensityCapex / Revenue | 7.8% | 0.1% |
| Cash ConversionOCF / Net Profit | 7.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | $27.2M | ||
| Q3 25 | $57.1M | $16.2M | ||
| Q2 25 | $-19.8M | $46.3M | ||
| Q1 25 | $30.0M | $-66.5M | ||
| Q4 24 | $31.0M | $27.6M | ||
| Q3 24 | $58.7M | $53.7M | ||
| Q2 24 | $5.5M | $50.2M |
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | $26.7M | ||
| Q3 25 | $52.4M | $15.9M | ||
| Q2 25 | $-26.9M | $45.2M | ||
| Q1 25 | $19.1M | $-69.2M | ||
| Q4 24 | $22.0M | $27.0M | ||
| Q3 24 | $50.2M | $52.4M | ||
| Q2 24 | $-1.8M | $49.6M |
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 4.6% | ||
| Q3 25 | 14.6% | 3.5% | ||
| Q2 25 | -7.8% | 12.4% | ||
| Q1 25 | 5.5% | -18.3% | ||
| Q4 24 | 6.4% | 8.0% | ||
| Q3 24 | 14.7% | 19.3% | ||
| Q2 24 | -0.5% | 26.6% |
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 0.1% | ||
| Q3 25 | 1.3% | 0.1% | ||
| Q2 25 | 2.1% | 0.3% | ||
| Q1 25 | 3.2% | 0.7% | ||
| Q4 24 | 2.6% | 0.2% | ||
| Q3 24 | 2.5% | 0.5% | ||
| Q2 24 | 2.2% | 0.3% |
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | — | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 12.08× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.92× | 3.05× | ||
| Q2 24 | 0.18× | 3.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
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% |
