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Side-by-side financial comparison of ENERGIZER HOLDINGS, INC. (ENR) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
ENERGIZER HOLDINGS, INC. is the larger business by last-quarter revenue ($778.9M vs $586.5M, roughly 1.3× StepStone Group Inc.). ENERGIZER HOLDINGS, INC. runs the higher net margin — -0.4% vs -21.0%, a 20.6% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 6.5%). ENERGIZER HOLDINGS, INC. produced more free cash flow last quarter ($124.2M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 8.4%).
Energizer Holdings, Inc. is an American manufacturer and one of the world's largest manufacturers of batteries, headquartered in Clayton, Missouri. It produces batteries under the Energizer, Ray-O-Vac, Varta, and Eveready brand names and formerly owned several personal care businesses until it separated that side of the business into a new company called Edgewell Personal Care in 2015.
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.
ENR vs STEP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $778.9M | $586.5M |
| Net Profit | $-3.4M | $-123.5M |
| Gross Margin | 32.9% | — |
| Operating Margin | -0.6% | -33.2% |
| Net Margin | -0.4% | -21.0% |
| Revenue YoY | 6.5% | 73.0% |
| Net Profit YoY | -115.2% | 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.
| Q4 25 | $778.9M | $586.5M | ||
| Q3 25 | $832.8M | $454.2M | ||
| Q2 25 | $725.3M | $364.3M | ||
| Q1 25 | $662.9M | $377.7M | ||
| Q4 24 | $731.7M | $339.0M | ||
| Q3 24 | $805.7M | $271.7M | ||
| Q2 24 | $701.4M | $186.4M | ||
| Q1 24 | $663.3M | $356.8M |
| Q4 25 | $-3.4M | $-123.5M | ||
| Q3 25 | $34.9M | $-366.1M | ||
| Q2 25 | $153.5M | $-38.4M | ||
| Q1 25 | $28.3M | $-18.5M | ||
| Q4 24 | $22.3M | $-192.0M | ||
| Q3 24 | $47.6M | $17.6M | ||
| Q2 24 | $-43.8M | $13.3M | ||
| Q1 24 | $32.4M | $30.8M |
| Q4 25 | 32.9% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 55.1% | — | ||
| Q1 25 | 39.1% | — | ||
| Q4 24 | 36.8% | — | ||
| Q3 24 | 38.1% | — | ||
| Q2 24 | 39.5% | — | ||
| Q1 24 | 38.2% | — |
| Q4 25 | -0.6% | -33.2% | ||
| Q3 25 | 6.4% | -148.8% | ||
| Q2 25 | 22.6% | -5.6% | ||
| Q1 25 | 5.5% | 2.6% | ||
| Q4 24 | 4.1% | -101.7% | ||
| Q3 24 | 7.4% | 21.3% | ||
| Q2 24 | -8.2% | 29.4% | ||
| Q1 24 | 6.4% | 26.5% |
| Q4 25 | -0.4% | -21.0% | ||
| Q3 25 | 4.2% | -80.6% | ||
| Q2 25 | 21.2% | -10.5% | ||
| Q1 25 | 4.3% | -4.9% | ||
| Q4 24 | 3.0% | -56.6% | ||
| Q3 24 | 5.9% | 6.5% | ||
| Q2 24 | -6.2% | 7.2% | ||
| Q1 24 | 4.9% | 8.6% |
| Q4 25 | — | $-1.55 | ||
| Q3 25 | — | $-4.66 | ||
| Q2 25 | — | $-0.49 | ||
| Q1 25 | — | $-0.37 | ||
| Q4 24 | — | $-2.61 | ||
| Q3 24 | — | $0.26 | ||
| Q2 24 | — | $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 | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $214.8M | — |
| Total DebtLower is stronger | — | $270.2M |
| Stockholders' EquityBook value | $141.3M | $-378.8M |
| Total Assets | $4.4B | $5.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $214.8M | — | ||
| Q3 25 | $236.2M | — | ||
| Q2 25 | $171.1M | — | ||
| Q1 25 | $139.3M | — | ||
| Q4 24 | $195.9M | — | ||
| Q3 24 | $216.9M | — | ||
| Q2 24 | $146.7M | — | ||
| Q1 24 | $158.1M | — |
| Q4 25 | — | $270.2M | ||
| Q3 25 | $3.4B | $269.9M | ||
| Q2 25 | $3.2B | $269.6M | ||
| Q1 25 | $3.2B | $269.3M | ||
| Q4 24 | $3.1B | $168.9M | ||
| Q3 24 | $3.2B | $172.3M | ||
| Q2 24 | $3.2B | $172.1M | ||
| Q1 24 | $3.2B | $148.8M |
| Q4 25 | $141.3M | $-378.8M | ||
| Q3 25 | $169.9M | $-233.5M | ||
| Q2 25 | $183.2M | $153.9M | ||
| Q1 25 | $133.9M | $179.4M | ||
| Q4 24 | $140.6M | $209.8M | ||
| Q3 24 | $135.8M | $397.5M | ||
| Q2 24 | $123.4M | $366.9M | ||
| Q1 24 | $191.3M | $324.5M |
| Q4 25 | $4.4B | $5.2B | ||
| Q3 25 | $4.6B | $5.3B | ||
| Q2 25 | $4.5B | $4.8B | ||
| Q1 25 | $4.2B | $4.6B | ||
| Q4 24 | $4.2B | $4.3B | ||
| Q3 24 | $4.3B | $4.0B | ||
| Q2 24 | $4.2B | $3.8B | ||
| Q1 24 | $4.3B | $3.8B |
| Q4 25 | — | — | ||
| Q3 25 | 20.28× | — | ||
| Q2 25 | 17.57× | 1.75× | ||
| Q1 25 | 23.56× | 1.50× | ||
| Q4 24 | 22.17× | 0.81× | ||
| Q3 24 | 23.51× | 0.43× | ||
| Q2 24 | 26.04× | 0.47× | ||
| Q1 24 | 16.86× | 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 | $149.5M | $27.2M |
| Free Cash FlowOCF − Capex | $124.2M | $26.7M |
| FCF MarginFCF / Revenue | 15.9% | 4.6% |
| Capex IntensityCapex / Revenue | 3.2% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $145.0M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $149.5M | $27.2M | ||
| Q3 25 | $61.5M | $16.2M | ||
| Q2 25 | $21.4M | $46.3M | ||
| Q1 25 | $-12.8M | $-66.5M | ||
| Q4 24 | $77.0M | $27.6M | ||
| Q3 24 | $168.9M | $53.7M | ||
| Q2 24 | $45.8M | $50.2M | ||
| Q1 24 | $36.8M | $7.6M |
| Q4 25 | $124.2M | $26.7M | ||
| Q3 25 | $46.7M | $15.9M | ||
| Q2 25 | $7.9M | $45.2M | ||
| Q1 25 | $-33.8M | $-69.2M | ||
| Q4 24 | $42.4M | $27.0M | ||
| Q3 24 | $141.5M | $52.4M | ||
| Q2 24 | $27.3M | $49.6M | ||
| Q1 24 | $10.3M | $6.7M |
| Q4 25 | 15.9% | 4.6% | ||
| Q3 25 | 5.6% | 3.5% | ||
| Q2 25 | 1.1% | 12.4% | ||
| Q1 25 | -5.1% | -18.3% | ||
| Q4 24 | 5.8% | 8.0% | ||
| Q3 24 | 17.6% | 19.3% | ||
| Q2 24 | 3.9% | 26.6% | ||
| Q1 24 | 1.6% | 1.9% |
| Q4 25 | 3.2% | 0.1% | ||
| Q3 25 | 1.8% | 0.1% | ||
| Q2 25 | 1.9% | 0.3% | ||
| Q1 25 | 3.2% | 0.7% | ||
| Q4 24 | 4.7% | 0.2% | ||
| Q3 24 | 3.4% | 0.5% | ||
| Q2 24 | 2.6% | 0.3% | ||
| Q1 24 | 4.0% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | -0.45× | — | ||
| Q4 24 | 3.45× | — | ||
| Q3 24 | 3.55× | 3.05× | ||
| Q2 24 | — | 3.76× | ||
| Q1 24 | 1.14× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENR
| Alkaline Batteries | $666.5M | 86% |
| Auto Care | $93.7M | 12% |
| Lights | $18.7M | 2% |
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% |
