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Side-by-side financial comparison of BWX Technologies, Inc. (BWXT) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
BWX Technologies, Inc. is the larger business by last-quarter revenue ($885.8M vs $586.5M, roughly 1.5× StepStone Group Inc.). BWX Technologies, Inc. runs the higher net margin — 10.5% vs -21.0%, a 31.5% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 18.7%). BWX Technologies, Inc. produced more free cash flow last quarter ($56.8M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 21.1%).
BWX Technologies, Inc. is a company headquartered in Lynchburg, Virginia that supplies nuclear components and fuel internationally.
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.
BWXT vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $885.8M | $586.5M |
| Net Profit | $93.0M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | 10.4% | -33.2% |
| Net Margin | 10.5% | -21.0% |
| Revenue YoY | 18.7% | 73.0% |
| Net Profit YoY | 30.9% | 35.7% |
| EPS (diluted) | $1.02 | $-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 | $885.8M | $586.5M | ||
| Q3 25 | $866.3M | $454.2M | ||
| Q2 25 | $764.0M | $364.3M | ||
| Q1 25 | $682.3M | $377.7M | ||
| Q4 24 | $746.3M | $339.0M | ||
| Q3 24 | $672.0M | $271.7M | ||
| Q2 24 | $681.5M | $186.4M | ||
| Q1 24 | $604.0M | $356.8M |
| Q4 25 | $93.0M | $-123.5M | ||
| Q3 25 | $82.1M | $-366.1M | ||
| Q2 25 | $78.4M | $-38.4M | ||
| Q1 25 | $75.5M | $-18.5M | ||
| Q4 24 | $71.0M | $-192.0M | ||
| Q3 24 | $69.5M | $17.6M | ||
| Q2 24 | $73.0M | $13.3M | ||
| Q1 24 | $68.5M | $30.8M |
| Q4 25 | — | — | ||
| Q3 25 | 21.8% | — | ||
| Q2 25 | 25.1% | — | ||
| Q1 25 | 24.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.4% | — | ||
| Q2 24 | 24.7% | — | ||
| Q1 24 | 24.6% | — |
| Q4 25 | 10.4% | -33.2% | ||
| Q3 25 | 13.1% | -148.8% | ||
| Q2 25 | 13.4% | -5.6% | ||
| Q1 25 | 14.2% | 2.6% | ||
| Q4 24 | 12.4% | -101.7% | ||
| Q3 24 | 14.4% | 21.3% | ||
| Q2 24 | 14.5% | 29.4% | ||
| Q1 24 | 15.4% | 26.5% |
| Q4 25 | 10.5% | -21.0% | ||
| Q3 25 | 9.5% | -80.6% | ||
| Q2 25 | 10.3% | -10.5% | ||
| Q1 25 | 11.1% | -4.9% | ||
| Q4 24 | 9.5% | -56.6% | ||
| Q3 24 | 10.3% | 6.5% | ||
| Q2 24 | 10.7% | 7.2% | ||
| Q1 24 | 11.3% | 8.6% |
| Q4 25 | $1.02 | $-1.55 | ||
| Q3 25 | $0.89 | $-4.66 | ||
| Q2 25 | $0.85 | $-0.49 | ||
| Q1 25 | $0.82 | $-0.37 | ||
| Q4 24 | $0.77 | $-2.61 | ||
| Q3 24 | $0.76 | $0.26 | ||
| Q2 24 | $0.79 | $0.20 | ||
| Q1 24 | $0.75 | $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 | $499.8M | — |
| Total DebtLower is stronger | — | $270.2M |
| Stockholders' EquityBook value | $1.2B | $-378.8M |
| Total Assets | $4.3B | $5.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $499.8M | — | ||
| Q3 25 | $79.6M | — | ||
| Q2 25 | $37.0M | — | ||
| Q1 25 | $55.4M | — | ||
| Q4 24 | $74.1M | — | ||
| Q3 24 | $35.5M | — | ||
| Q2 24 | $48.3M | — | ||
| Q1 24 | $45.9M | — |
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
| Q4 25 | $1.2B | $-378.8M | ||
| Q3 25 | $1.2B | $-233.5M | ||
| Q2 25 | $1.2B | $153.9M | ||
| Q1 25 | $1.1B | $179.4M | ||
| Q4 24 | $1.1B | $209.8M | ||
| Q3 24 | $1.1B | $397.5M | ||
| Q2 24 | $998.5M | $366.9M | ||
| Q1 24 | $946.2M | $324.5M |
| Q4 25 | $4.3B | $5.2B | ||
| Q3 25 | $3.8B | $5.3B | ||
| Q2 25 | $3.7B | $4.8B | ||
| Q1 25 | $3.1B | $4.6B | ||
| Q4 24 | $2.9B | $4.3B | ||
| Q3 24 | $2.9B | $4.0B | ||
| Q2 24 | $2.8B | $3.8B | ||
| Q1 24 | $2.8B | $3.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $127.0M | $27.2M |
| Free Cash FlowOCF − Capex | $56.8M | $26.7M |
| FCF MarginFCF / Revenue | 6.4% | 4.6% |
| Capex IntensityCapex / Revenue | 7.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.37× | — |
| TTM Free Cash FlowTrailing 4 quarters | $295.3M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $127.0M | $27.2M | ||
| Q3 25 | $143.2M | $16.2M | ||
| Q2 25 | $159.0M | $46.3M | ||
| Q1 25 | $50.6M | $-66.5M | ||
| Q4 24 | $276.9M | $27.6M | ||
| Q3 24 | $32.6M | $53.7M | ||
| Q2 24 | $65.9M | $50.2M | ||
| Q1 24 | $33.0M | $7.6M |
| Q4 25 | $56.8M | $26.7M | ||
| Q3 25 | $94.9M | $15.9M | ||
| Q2 25 | $126.3M | $45.2M | ||
| Q1 25 | $17.3M | $-69.2M | ||
| Q4 24 | $224.4M | $27.0M | ||
| Q3 24 | $-7.7M | $52.4M | ||
| Q2 24 | $35.5M | $49.6M | ||
| Q1 24 | $2.6M | $6.7M |
| Q4 25 | 6.4% | 4.6% | ||
| Q3 25 | 11.0% | 3.5% | ||
| Q2 25 | 16.5% | 12.4% | ||
| Q1 25 | 2.5% | -18.3% | ||
| Q4 24 | 30.1% | 8.0% | ||
| Q3 24 | -1.1% | 19.3% | ||
| Q2 24 | 5.2% | 26.6% | ||
| Q1 24 | 0.4% | 1.9% |
| Q4 25 | 7.9% | 0.1% | ||
| Q3 25 | 5.6% | 0.1% | ||
| Q2 25 | 4.3% | 0.3% | ||
| Q1 25 | 4.9% | 0.7% | ||
| Q4 24 | 7.0% | 0.2% | ||
| Q3 24 | 6.0% | 0.5% | ||
| Q2 24 | 4.5% | 0.3% | ||
| Q1 24 | 5.0% | 0.3% |
| Q4 25 | 1.37× | — | ||
| Q3 25 | 1.74× | — | ||
| Q2 25 | 2.03× | — | ||
| Q1 25 | 0.67× | — | ||
| Q4 24 | 3.90× | — | ||
| Q3 24 | 0.47× | 3.05× | ||
| Q2 24 | 0.90× | 3.76× | ||
| Q1 24 | 0.48× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BWXT
| Nuclear Component Program | $436.4M | 49% |
| Nuclear Manufacturing | $134.8M | 15% |
| Cost Plus Fee | $116.1M | 13% |
| Uranium And Nuclear Services | $103.8M | 12% |
| Commercial Operations | $49.0M | 6% |
| Commercial Operations Segment | $33.7M | 4% |
| Transferred At Point In Time | $1.3M | 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% |
