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Side-by-side financial comparison of Clearwater Paper Corp (CLW) 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 $360.3M, roughly 1.6× Clearwater Paper Corp). Clearwater Paper Corp runs the higher net margin — -3.6% vs -21.0%, a 17.5% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs -4.7%). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 2.3%).
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
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.
CLW vs STEP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $360.3M | $586.5M |
| Net Profit | $-12.8M | $-123.5M |
| Gross Margin | -0.2% | — |
| Operating Margin | — | -33.2% |
| Net Margin | -3.6% | -21.0% |
| Revenue YoY | -4.7% | 73.0% |
| Net Profit YoY | -103.2% | 35.7% |
| EPS (diluted) | — | $-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 | $360.3M | — | ||
| Q4 25 | $386.4M | $586.5M | ||
| Q3 25 | $399.0M | $454.2M | ||
| Q2 25 | $391.8M | $364.3M | ||
| Q1 25 | $378.2M | $377.7M | ||
| Q4 24 | $387.1M | $339.0M | ||
| Q3 24 | $393.3M | $271.7M | ||
| Q2 24 | $344.4M | $186.4M |
| Q1 26 | $-12.8M | — | ||
| Q4 25 | $38.3M | $-123.5M | ||
| Q3 25 | $-53.3M | $-366.1M | ||
| Q2 25 | $2.7M | $-38.4M | ||
| Q1 25 | $-6.3M | $-18.5M | ||
| Q4 24 | $199.1M | $-192.0M | ||
| Q3 24 | $5.8M | $17.6M | ||
| Q2 24 | $-25.8M | $13.3M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | 11.0% | — | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 7.7% | — | ||
| Q2 24 | -0.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | -33.2% | ||
| Q3 25 | -13.9% | -148.8% | ||
| Q2 25 | 2.5% | -5.6% | ||
| Q1 25 | -1.1% | 2.6% | ||
| Q4 24 | -4.0% | -101.7% | ||
| Q3 24 | -0.3% | 21.3% | ||
| Q2 24 | -13.6% | 29.4% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | -21.0% | ||
| Q3 25 | -13.4% | -80.6% | ||
| Q2 25 | 0.7% | -10.5% | ||
| Q1 25 | -1.7% | -4.9% | ||
| Q4 24 | 51.4% | -56.6% | ||
| Q3 24 | 1.5% | 6.5% | ||
| Q2 24 | -7.5% | 7.2% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | $-1.55 | ||
| Q3 25 | $-3.30 | $-4.66 | ||
| Q2 25 | $0.17 | $-0.49 | ||
| Q1 25 | $-0.38 | $-0.37 | ||
| Q4 24 | $11.87 | $-2.61 | ||
| Q3 24 | $0.35 | $0.26 | ||
| Q2 24 | $-1.55 | $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 | $36.5M | — |
| Total DebtLower is stronger | $361.1M | $270.2M |
| Stockholders' EquityBook value | $813.8M | $-378.8M |
| Total Assets | $1.6B | $5.2B |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | — | ||
| Q3 25 | $34.4M | — | ||
| Q2 25 | $46.7M | — | ||
| Q1 25 | $44.0M | — | ||
| Q4 24 | $79.6M | — | ||
| Q3 24 | $35.5M | — | ||
| Q2 24 | $39.6M | — |
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | $270.2M | ||
| Q3 25 | $337.0M | $269.9M | ||
| Q2 25 | $330.1M | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | $283.4M | $168.9M | ||
| Q3 24 | $1.2B | $172.3M | ||
| Q2 24 | $1.1B | $172.1M |
| Q1 26 | $813.8M | — | ||
| Q4 25 | $825.3M | $-378.8M | ||
| Q3 25 | $783.0M | $-233.5M | ||
| Q2 25 | $836.8M | $153.9M | ||
| Q1 25 | $836.6M | $179.4M | ||
| Q4 24 | $854.6M | $209.8M | ||
| Q3 24 | $664.6M | $397.5M | ||
| Q2 24 | $658.6M | $366.9M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $5.2B | ||
| Q3 25 | $1.6B | $5.3B | ||
| Q2 25 | $1.6B | $4.8B | ||
| Q1 25 | $1.6B | $4.6B | ||
| Q4 24 | $1.7B | $4.3B | ||
| Q3 24 | $2.5B | $4.0B | ||
| Q2 24 | $2.5B | $3.8B |
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.39× | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 0.33× | 0.81× | ||
| Q3 24 | 1.73× | 0.43× | ||
| Q2 24 | 1.74× | 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 | — | $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.
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | $27.2M | ||
| Q3 25 | $34.0M | $16.2M | ||
| Q2 25 | $-28.2M | $46.3M | ||
| Q1 25 | $1.5M | $-66.5M | ||
| Q4 24 | $-35.1M | $27.6M | ||
| Q3 24 | $16.2M | $53.7M | ||
| Q2 24 | $21.1M | $50.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | $26.7M | ||
| Q3 25 | $15.7M | $15.9M | ||
| Q2 25 | $-51.1M | $45.2M | ||
| Q1 25 | $-31.2M | $-69.2M | ||
| Q4 24 | $-68.1M | $27.0M | ||
| Q3 24 | $-30.8M | $52.4M | ||
| Q2 24 | $3.0M | $49.6M |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | 4.6% | ||
| Q3 25 | 3.9% | 3.5% | ||
| Q2 25 | -13.0% | 12.4% | ||
| Q1 25 | -8.2% | -18.3% | ||
| Q4 24 | -17.6% | 8.0% | ||
| Q3 24 | -7.8% | 19.3% | ||
| Q2 24 | 0.9% | 26.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 0.1% | ||
| Q3 25 | 4.6% | 0.1% | ||
| Q2 25 | 5.8% | 0.3% | ||
| Q1 25 | 8.6% | 0.7% | ||
| Q4 24 | 8.5% | 0.2% | ||
| Q3 24 | 12.0% | 0.5% | ||
| Q2 24 | 5.3% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -10.44× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | — | ||
| Q3 24 | 2.79× | 3.05× | ||
| Q2 24 | — | 3.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLW
Segment breakdown not available.
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% |
