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Side-by-side financial comparison of B&G Foods, Inc. (BGS) 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 $439.3M, roughly 1.3× B&G Foods, Inc.). B&G Foods, Inc. runs the higher net margin — -4.4% vs -21.0%, a 16.7% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs -4.7%). StepStone Group Inc. produced more free cash flow last quarter ($26.7M vs $-70.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs -12.8%).
B&G Foods, Inc. is an American branded foods holding company based in Parsippany, New Jersey. The company was formed in 1996 to acquire Bloch & Guggenheimer, a Manhattan-based producer of pickles, relish and condiments which had been founded in 1889.
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.
BGS vs STEP — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $439.3M | $586.5M |
| Net Profit | $-19.1M | $-123.5M |
| Gross Margin | 22.5% | — |
| Operating Margin | 2.5% | -33.2% |
| Net Margin | -4.4% | -21.0% |
| Revenue YoY | -4.7% | 73.0% |
| Net Profit YoY | -356.5% | 35.7% |
| EPS (diluted) | $-0.24 | $-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 | — | $586.5M | ||
| Q3 25 | $439.3M | $454.2M | ||
| Q2 25 | $424.4M | $364.3M | ||
| Q1 25 | $425.4M | $377.7M | ||
| Q4 24 | $551.6M | $339.0M | ||
| Q3 24 | $461.1M | $271.7M | ||
| Q2 24 | $444.6M | $186.4M | ||
| Q1 24 | $475.2M | $356.8M |
| Q4 25 | — | $-123.5M | ||
| Q3 25 | $-19.1M | $-366.1M | ||
| Q2 25 | $-9.8M | $-38.4M | ||
| Q1 25 | $835.0K | $-18.5M | ||
| Q4 24 | $-222.4M | $-192.0M | ||
| Q3 24 | $7.5M | $17.6M | ||
| Q2 24 | $3.9M | $13.3M | ||
| Q1 24 | $-40.2M | $30.8M |
| Q4 25 | — | — | ||
| Q3 25 | 22.5% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | 21.2% | — | ||
| Q4 24 | 21.5% | — | ||
| Q3 24 | 22.2% | — | ||
| Q2 24 | 20.7% | — | ||
| Q1 24 | 22.9% | — |
| Q4 25 | — | -33.2% | ||
| Q3 25 | 2.5% | -148.8% | ||
| Q2 25 | 5.2% | -5.6% | ||
| Q1 25 | 8.4% | 2.6% | ||
| Q4 24 | -46.6% | -101.7% | ||
| Q3 24 | 11.1% | 21.3% | ||
| Q2 24 | 9.9% | 29.4% | ||
| Q1 24 | -3.3% | 26.5% |
| Q4 25 | — | -21.0% | ||
| Q3 25 | -4.4% | -80.6% | ||
| Q2 25 | -2.3% | -10.5% | ||
| Q1 25 | 0.2% | -4.9% | ||
| Q4 24 | -40.3% | -56.6% | ||
| Q3 24 | 1.6% | 6.5% | ||
| Q2 24 | 0.9% | 7.2% | ||
| Q1 24 | -8.5% | 8.6% |
| Q4 25 | — | $-1.55 | ||
| Q3 25 | $-0.24 | $-4.66 | ||
| Q2 25 | $-0.12 | $-0.49 | ||
| Q1 25 | $0.01 | $-0.37 | ||
| Q4 24 | $-2.81 | $-2.61 | ||
| Q3 24 | $0.09 | $0.26 | ||
| Q2 24 | $0.05 | $0.20 | ||
| Q1 24 | $-0.51 | $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 | $60.9M | — |
| Total DebtLower is stronger | $2.0B | $270.2M |
| Stockholders' EquityBook value | $470.7M | $-378.8M |
| Total Assets | $2.9B | $5.2B |
| Debt / EquityLower = less leverage | 4.30× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $60.9M | — | ||
| Q2 25 | $54.1M | — | ||
| Q1 25 | $61.2M | — | ||
| Q4 24 | $50.6M | — | ||
| Q3 24 | $54.7M | — | ||
| Q2 24 | $40.3M | — | ||
| Q1 24 | $42.5M | — |
| Q4 25 | — | $270.2M | ||
| Q3 25 | $2.0B | $269.9M | ||
| Q2 25 | $2.0B | $269.6M | ||
| Q1 25 | $2.0B | $269.3M | ||
| Q4 24 | $2.0B | $168.9M | ||
| Q3 24 | $2.1B | $172.3M | ||
| Q2 24 | $2.0B | $172.1M | ||
| Q1 24 | $2.0B | $148.8M |
| Q4 25 | — | $-378.8M | ||
| Q3 25 | $470.7M | $-233.5M | ||
| Q2 25 | $501.4M | $153.9M | ||
| Q1 25 | $513.1M | $179.4M | ||
| Q4 24 | $524.8M | $209.8M | ||
| Q3 24 | $755.3M | $397.5M | ||
| Q2 24 | $765.0M | $366.9M | ||
| Q1 24 | $781.2M | $324.5M |
| Q4 25 | — | $5.2B | ||
| Q3 25 | $2.9B | $5.3B | ||
| Q2 25 | $2.9B | $4.8B | ||
| Q1 25 | $3.0B | $4.6B | ||
| Q4 24 | $3.0B | $4.3B | ||
| Q3 24 | $3.4B | $4.0B | ||
| Q2 24 | $3.4B | $3.8B | ||
| Q1 24 | $3.4B | $3.8B |
| Q4 25 | — | — | ||
| Q3 25 | 4.30× | — | ||
| Q2 25 | 3.97× | 1.75× | ||
| Q1 25 | 3.91× | 1.50× | ||
| Q4 24 | 3.85× | 0.81× | ||
| Q3 24 | 2.75× | 0.43× | ||
| Q2 24 | 2.67× | 0.47× | ||
| Q1 24 | 2.61× | 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 | $-64.6M | $27.2M |
| Free Cash FlowOCF − Capex | $-70.7M | $26.7M |
| FCF MarginFCF / Revenue | -16.1% | 4.6% |
| Capex IntensityCapex / Revenue | 1.4% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $54.8M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $27.2M | ||
| Q3 25 | $-64.6M | $16.2M | ||
| Q2 25 | $17.8M | $46.3M | ||
| Q1 25 | $52.7M | $-66.5M | ||
| Q4 24 | $80.3M | $27.6M | ||
| Q3 24 | $4.2M | $53.7M | ||
| Q2 24 | $11.3M | $50.2M | ||
| Q1 24 | $35.1M | $7.6M |
| Q4 25 | — | $26.7M | ||
| Q3 25 | $-70.7M | $15.9M | ||
| Q2 25 | $11.5M | $45.2M | ||
| Q1 25 | $42.4M | $-69.2M | ||
| Q4 24 | $71.7M | $27.0M | ||
| Q3 24 | $-679.0K | $52.4M | ||
| Q2 24 | $5.2M | $49.6M | ||
| Q1 24 | $27.5M | $6.7M |
| Q4 25 | — | 4.6% | ||
| Q3 25 | -16.1% | 3.5% | ||
| Q2 25 | 2.7% | 12.4% | ||
| Q1 25 | 10.0% | -18.3% | ||
| Q4 24 | 13.0% | 8.0% | ||
| Q3 24 | -0.1% | 19.3% | ||
| Q2 24 | 1.2% | 26.6% | ||
| Q1 24 | 5.8% | 1.9% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | 1.4% | 0.1% | ||
| Q2 25 | 1.5% | 0.3% | ||
| Q1 25 | 2.4% | 0.7% | ||
| Q4 24 | 1.6% | 0.2% | ||
| Q3 24 | 1.0% | 0.5% | ||
| Q2 24 | 1.4% | 0.3% | ||
| Q1 24 | 1.6% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 63.17× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.56× | 3.05× | ||
| Q2 24 | 2.87× | 3.76× | ||
| Q1 24 | — | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BGS
| Specialty Segment | $150.5M | 34% |
| Meals Segment | $110.0M | 25% |
| Spices And Flavor Solutions Segment | $101.4M | 23% |
| Frozen And Vegetables Segment | $77.4M | 18% |
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% |
