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Side-by-side financial comparison of BJs RESTAURANTS INC (BJRI) 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 $355.4M, roughly 1.7× BJs RESTAURANTS INC). BJs RESTAURANTS INC runs the higher net margin — 3.6% vs -21.0%, a 24.6% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 3.2%). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 2.6%).

BJ's Restaurants Inc. operates a chain of casual dining restaurants across the United States. Its menu features signature deep-dish pizzas, craft beers, handcrafted cocktails, and a wide range of American comfort food. The brand primarily serves family groups, friend gatherings, and casual diners seeking affordable, high-quality meals in a relaxed, welcoming in-store environment.

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.

BJRI vs STEP — Head-to-Head

Bigger by revenue
STEP
STEP
1.7× larger
STEP
$586.5M
$355.4M
BJRI
Growing faster (revenue YoY)
STEP
STEP
+69.8% gap
STEP
73.0%
3.2%
BJRI
Higher net margin
BJRI
BJRI
24.6% more per $
BJRI
3.6%
-21.0%
STEP
Faster 2-yr revenue CAGR
STEP
STEP
Annualised
STEP
28.2%
2.6%
BJRI

Income Statement — Q4 FY2025 vs Q3 FY2026

Metric
BJRI
BJRI
STEP
STEP
Revenue
$355.4M
$586.5M
Net Profit
$12.6M
$-123.5M
Gross Margin
74.5%
Operating Margin
3.1%
-33.2%
Net Margin
3.6%
-21.0%
Revenue YoY
3.2%
73.0%
Net Profit YoY
-24.2%
35.7%
EPS (diluted)
$0.58
$-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.

Revenue
BJRI
BJRI
STEP
STEP
Q4 25
$355.4M
$586.5M
Q3 25
$365.6M
$454.2M
Q2 25
$348.0M
$364.3M
Q1 25
$377.7M
Q4 24
$325.7M
$339.0M
Q3 24
$349.9M
$271.7M
Q2 24
$337.3M
$186.4M
Q1 24
$356.8M
Net Profit
BJRI
BJRI
STEP
STEP
Q4 25
$12.6M
$-123.5M
Q3 25
$22.2M
$-366.1M
Q2 25
$13.5M
$-38.4M
Q1 25
$-18.5M
Q4 24
$-2.9M
$-192.0M
Q3 24
$17.2M
$17.6M
Q2 24
$7.7M
$13.3M
Q1 24
$30.8M
Gross Margin
BJRI
BJRI
STEP
STEP
Q4 25
74.5%
Q3 25
75.2%
Q2 25
75.0%
Q1 25
Q4 24
73.4%
Q3 24
74.3%
Q2 24
74.8%
Q1 24
Operating Margin
BJRI
BJRI
STEP
STEP
Q4 25
3.1%
-33.2%
Q3 25
5.8%
-148.8%
Q2 25
4.3%
-5.6%
Q1 25
2.6%
Q4 24
-0.8%
-101.7%
Q3 24
3.8%
21.3%
Q2 24
2.4%
29.4%
Q1 24
26.5%
Net Margin
BJRI
BJRI
STEP
STEP
Q4 25
3.6%
-21.0%
Q3 25
6.1%
-80.6%
Q2 25
3.9%
-10.5%
Q1 25
-4.9%
Q4 24
-0.9%
-56.6%
Q3 24
4.9%
6.5%
Q2 24
2.3%
7.2%
Q1 24
8.6%
EPS (diluted)
BJRI
BJRI
STEP
STEP
Q4 25
$0.58
$-1.55
Q3 25
$0.97
$-4.66
Q2 25
$0.58
$-0.49
Q1 25
$-0.37
Q4 24
$-0.13
$-2.61
Q3 24
$0.72
$0.26
Q2 24
$0.32
$0.20
Q1 24
$0.47

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BJRI
BJRI
STEP
STEP
Cash + ST InvestmentsLiquidity on hand
$23.8M
Total DebtLower is stronger
$270.2M
Stockholders' EquityBook value
$366.2M
$-378.8M
Total Assets
$1.0B
$5.2B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BJRI
BJRI
STEP
STEP
Q4 25
$23.8M
Q3 25
$26.0M
Q2 25
$19.0M
Q1 25
Q4 24
$18.4M
Q3 24
$16.2M
Q2 24
$18.8M
Q1 24
Total Debt
BJRI
BJRI
STEP
STEP
Q4 25
$270.2M
Q3 25
$60.5M
$269.9M
Q2 25
$85.5M
$269.6M
Q1 25
$269.3M
Q4 24
$66.5M
$168.9M
Q3 24
$63.5M
$172.3M
Q2 24
$58.0M
$172.1M
Q1 24
$148.8M
Stockholders' Equity
BJRI
BJRI
STEP
STEP
Q4 25
$366.2M
$-378.8M
Q3 25
$386.6M
$-233.5M
Q2 25
$371.5M
$153.9M
Q1 25
$179.4M
Q4 24
$376.2M
$209.8M
Q3 24
$386.5M
$397.5M
Q2 24
$375.4M
$366.9M
Q1 24
$324.5M
Total Assets
BJRI
BJRI
STEP
STEP
Q4 25
$1.0B
$5.2B
Q3 25
$1.0B
$5.3B
Q2 25
$1.0B
$4.8B
Q1 25
$4.6B
Q4 24
$1.0B
$4.3B
Q3 24
$1.0B
$4.0B
Q2 24
$1.0B
$3.8B
Q1 24
$3.8B
Debt / Equity
BJRI
BJRI
STEP
STEP
Q4 25
Q3 25
0.16×
Q2 25
0.23×
1.75×
Q1 25
1.50×
Q4 24
0.18×
0.81×
Q3 24
0.16×
0.43×
Q2 24
0.15×
0.47×
Q1 24
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
BJRI
BJRI
STEP
STEP
Operating Cash FlowLast quarter
$27.2M
Free Cash FlowOCF − Capex
$26.7M
FCF MarginFCF / Revenue
4.6%
Capex IntensityCapex / Revenue
0.1%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$18.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BJRI
BJRI
STEP
STEP
Q4 25
$27.2M
Q3 25
$62.3M
$16.2M
Q2 25
$4.6M
$46.3M
Q1 25
$-66.5M
Q4 24
$27.3M
$27.6M
Q3 24
$20.2M
$53.7M
Q2 24
$22.3M
$50.2M
Q1 24
$7.6M
Free Cash Flow
BJRI
BJRI
STEP
STEP
Q4 25
$26.7M
Q3 25
$41.9M
$15.9M
Q2 25
$-12.1M
$45.2M
Q1 25
$-69.2M
Q4 24
$7.6M
$27.0M
Q3 24
$735.0K
$52.4M
Q2 24
$448.0K
$49.6M
Q1 24
$6.7M
FCF Margin
BJRI
BJRI
STEP
STEP
Q4 25
4.6%
Q3 25
11.5%
3.5%
Q2 25
-3.5%
12.4%
Q1 25
-18.3%
Q4 24
2.3%
8.0%
Q3 24
0.2%
19.3%
Q2 24
0.1%
26.6%
Q1 24
1.9%
Capex Intensity
BJRI
BJRI
STEP
STEP
Q4 25
0.1%
Q3 25
5.6%
0.1%
Q2 25
4.8%
0.3%
Q1 25
0.7%
Q4 24
6.0%
0.2%
Q3 24
5.6%
0.5%
Q2 24
6.5%
0.3%
Q1 24
0.3%
Cash Conversion
BJRI
BJRI
STEP
STEP
Q4 25
Q3 25
2.80×
Q2 25
0.34×
Q1 25
Q4 24
Q3 24
1.18×
3.05×
Q2 24
2.89×
3.76×
Q1 24
0.25×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

BJRI
BJRI

Segment breakdown not available.

STEP
STEP

Other$210.1M36%
Management And Advisory Fees Net Focused Commingled Funds$143.3M24%
Carried Interest Allocation Focused Commingled Funds$85.1M15%
Carried Interest Allocation Separately Managed Accounts$63.6M11%
Carried Interest Allocation Realized$46.7M8%
Management And Advisory Fees Net Advisory And Other Services$18.3M3%
Legacy Carried Interest Allocation Focused Commingled Funds$10.3M2%
Income Based Incentive Fees$6.0M1%
Management And Advisory Fees Net Fund Reimbursement Revenues$3.1M1%

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