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Side-by-side financial comparison of Core Natural Resources, Inc. (CNR) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
Core Natural Resources, Inc. is the larger business by last-quarter revenue ($1.0B vs $586.5M, roughly 1.8× StepStone Group Inc.). Core Natural Resources, Inc. runs the higher net margin — -7.6% vs -21.0%, a 13.5% gap on every dollar of revenue. On growth, Core Natural Resources, Inc. posted the faster year-over-year revenue change (81.8% vs 73.0%). StepStone Group Inc. produced more free cash flow last quarter ($26.7M vs $26.0M). Over the past eight quarters, Core Natural Resources, Inc.'s revenue compounded faster (38.1% CAGR vs 28.2%).
Arch Resources, previously known as Arch Coal, was an American coal mining and processing company. The company mined, processed, and marketed bituminous and sub-bituminous coal with low sulfur content in the United States. Arch Resources was the second-largest supplier of coal in the United States, behind Peabody Energy. As of 2011 the company supplied 15% of the domestic market. Demand came mainly from generators of electricity.
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.
CNR vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $586.5M |
| Net Profit | $-79.0M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | -9.3% | -33.2% |
| Net Margin | -7.6% | -21.0% |
| Revenue YoY | 81.8% | 73.0% |
| Net Profit YoY | -356.3% | 35.7% |
| EPS (diluted) | $-1.51 | $-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 | $1.0B | $586.5M | ||
| Q3 25 | $1.0B | $454.2M | ||
| Q2 25 | $1.1B | $364.3M | ||
| Q1 25 | $1.0B | $377.7M | ||
| Q4 24 | $573.6M | $339.0M | ||
| Q3 24 | $553.4M | $271.7M | ||
| Q2 24 | $490.7M | $186.4M | ||
| Q1 24 | $546.7M | $356.8M |
| Q4 25 | $-79.0M | $-123.5M | ||
| Q3 25 | $31.6M | $-366.1M | ||
| Q2 25 | $-36.6M | $-38.4M | ||
| Q1 25 | $-69.3M | $-18.5M | ||
| Q4 24 | $30.8M | $-192.0M | ||
| Q3 24 | $95.6M | $17.6M | ||
| Q2 24 | $58.1M | $13.3M | ||
| Q1 24 | $101.9M | $30.8M |
| Q4 25 | -9.3% | -33.2% | ||
| Q3 25 | -1.2% | -148.8% | ||
| Q2 25 | -1.7% | -5.6% | ||
| Q1 25 | -5.3% | 2.6% | ||
| Q4 24 | 6.6% | -101.7% | ||
| Q3 24 | 21.2% | 21.3% | ||
| Q2 24 | 14.6% | 29.4% | ||
| Q1 24 | 22.7% | 26.5% |
| Q4 25 | -7.6% | -21.0% | ||
| Q3 25 | 3.2% | -80.6% | ||
| Q2 25 | -3.3% | -10.5% | ||
| Q1 25 | -6.8% | -4.9% | ||
| Q4 24 | 5.4% | -56.6% | ||
| Q3 24 | 17.3% | 6.5% | ||
| Q2 24 | 11.8% | 7.2% | ||
| Q1 24 | 18.6% | 8.6% |
| Q4 25 | $-1.51 | $-1.55 | ||
| Q3 25 | $0.61 | $-4.66 | ||
| Q2 25 | $-0.70 | $-0.49 | ||
| Q1 25 | $-1.38 | $-0.37 | ||
| Q4 24 | $1.04 | $-2.61 | ||
| Q3 24 | $3.22 | $0.26 | ||
| Q2 24 | $1.96 | $0.20 | ||
| Q1 24 | $3.39 | $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 | $432.2M | — |
| Total DebtLower is stronger | $354.2M | $270.2M |
| Stockholders' EquityBook value | $3.7B | $-378.8M |
| Total Assets | $6.1B | $5.2B |
| Debt / EquityLower = less leverage | 0.10× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $432.2M | — | ||
| Q3 25 | $444.7M | — | ||
| Q2 25 | $413.2M | — | ||
| Q1 25 | $388.5M | — | ||
| Q4 24 | $460.2M | — | ||
| Q3 24 | $331.7M | — | ||
| Q2 24 | $216.1M | — | ||
| Q1 24 | $172.6M | — |
| Q4 25 | $354.2M | $270.2M | ||
| Q3 25 | $334.5M | $269.9M | ||
| Q2 25 | $334.0M | $269.6M | ||
| Q1 25 | $329.8M | $269.3M | ||
| Q4 24 | $94.8M | $168.9M | ||
| Q3 24 | $83.7M | $172.3M | ||
| Q2 24 | $184.9M | $172.1M | ||
| Q1 24 | $185.5M | $148.8M |
| Q4 25 | $3.7B | $-378.8M | ||
| Q3 25 | $3.8B | $-233.5M | ||
| Q2 25 | $3.8B | $153.9M | ||
| Q1 25 | $3.9B | $179.4M | ||
| Q4 24 | $1.6B | $209.8M | ||
| Q3 24 | $1.5B | $397.5M | ||
| Q2 24 | $1.4B | $366.9M | ||
| Q1 24 | $1.4B | $324.5M |
| Q4 25 | $6.1B | $5.2B | ||
| Q3 25 | $6.2B | $5.3B | ||
| Q2 25 | $6.2B | $4.8B | ||
| Q1 25 | $6.3B | $4.6B | ||
| Q4 24 | $2.9B | $4.3B | ||
| Q3 24 | $2.8B | $4.0B | ||
| Q2 24 | $2.7B | $3.8B | ||
| Q1 24 | $2.7B | $3.8B |
| Q4 25 | 0.10× | — | ||
| Q3 25 | 0.09× | — | ||
| Q2 25 | 0.09× | 1.75× | ||
| Q1 25 | 0.08× | 1.50× | ||
| Q4 24 | 0.06× | 0.81× | ||
| Q3 24 | 0.05× | 0.43× | ||
| Q2 24 | 0.13× | 0.47× | ||
| Q1 24 | 0.13× | 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 | $107.3M | $27.2M |
| Free Cash FlowOCF − Capex | $26.0M | $26.7M |
| FCF MarginFCF / Revenue | 2.5% | 4.6% |
| Capex IntensityCapex / Revenue | 7.8% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $21.2M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $107.3M | $27.2M | ||
| Q3 25 | $87.9M | $16.2M | ||
| Q2 25 | $220.2M | $46.3M | ||
| Q1 25 | $-109.6M | $-66.5M | ||
| Q4 24 | $121.3M | $27.6M | ||
| Q3 24 | $161.3M | $53.7M | ||
| Q2 24 | $116.3M | $50.2M | ||
| Q1 24 | $77.5M | $7.6M |
| Q4 25 | $26.0M | $26.7M | ||
| Q3 25 | $38.6M | $15.9M | ||
| Q2 25 | $131.0M | $45.2M | ||
| Q1 25 | $-174.5M | $-69.2M | ||
| Q4 24 | $80.5M | $27.0M | ||
| Q3 24 | $121.9M | $52.4M | ||
| Q2 24 | $60.9M | $49.6M | ||
| Q1 24 | $35.1M | $6.7M |
| Q4 25 | 2.5% | 4.6% | ||
| Q3 25 | 3.9% | 3.5% | ||
| Q2 25 | 11.9% | 12.4% | ||
| Q1 25 | -17.1% | -18.3% | ||
| Q4 24 | 14.0% | 8.0% | ||
| Q3 24 | 22.0% | 19.3% | ||
| Q2 24 | 12.4% | 26.6% | ||
| Q1 24 | 6.4% | 1.9% |
| Q4 25 | 7.8% | 0.1% | ||
| Q3 25 | 4.9% | 0.1% | ||
| Q2 25 | 8.1% | 0.3% | ||
| Q1 25 | 6.4% | 0.7% | ||
| Q4 24 | 7.1% | 0.2% | ||
| Q3 24 | 7.1% | 0.5% | ||
| Q2 24 | 11.3% | 0.3% | ||
| Q1 24 | 7.7% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | 2.78× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.94× | — | ||
| Q3 24 | 1.69× | 3.05× | ||
| Q2 24 | 2.00× | 3.76× | ||
| Q1 24 | 0.76× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CNR
| Other | $397.4M | 38% |
| Power Generation | $376.5M | 36% |
| PRB | $183.0M | 18% |
| Metallurgical | $42.0M | 4% |
| Industrial | $34.1M | 3% |
| Terminal Revenue | $6.4M | 1% |
| Other Revenue | $3.0M | 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% |
