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Side-by-side financial comparison of Equity Residential (EQR) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
Equity Residential is the larger business by last-quarter revenue ($781.9M vs $586.5M, roughly 1.3× StepStone Group Inc.). Equity Residential runs the higher net margin — 48.9% vs -21.0%, a 69.9% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 2.0%). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 3.4%).
Equity Residential is a United States–based publicly traded real estate investment trust that invests in apartments.
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.
EQR vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $781.9M | $586.5M |
| Net Profit | $382.1M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | 50.6% | -33.2% |
| Net Margin | 48.9% | -21.0% |
| Revenue YoY | 2.0% | 73.0% |
| Net Profit YoY | -8.8% | 35.7% |
| EPS (diluted) | $1.01 | $-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 | $781.9M | $586.5M | ||
| Q3 25 | $782.4M | $454.2M | ||
| Q2 25 | $768.8M | $364.3M | ||
| Q1 25 | $760.8M | $377.7M | ||
| Q4 24 | $766.8M | $339.0M | ||
| Q3 24 | $748.3M | $271.7M | ||
| Q2 24 | $734.2M | $186.4M | ||
| Q1 24 | $730.8M | $356.8M |
| Q4 25 | $382.1M | $-123.5M | ||
| Q3 25 | $289.1M | $-366.1M | ||
| Q2 25 | $192.4M | $-38.4M | ||
| Q1 25 | $256.6M | $-18.5M | ||
| Q4 24 | $419.1M | $-192.0M | ||
| Q3 24 | $143.4M | $17.6M | ||
| Q2 24 | $177.5M | $13.3M | ||
| Q1 24 | $295.8M | $30.8M |
| Q4 25 | 50.6% | -33.2% | ||
| Q3 25 | 38.5% | -148.8% | ||
| Q2 25 | 26.6% | -5.6% | ||
| Q1 25 | 35.7% | 2.6% | ||
| Q4 24 | 57.2% | -101.7% | ||
| Q3 24 | 20.1% | 21.3% | ||
| Q2 24 | 25.3% | 29.4% | ||
| Q1 24 | 42.0% | 26.5% |
| Q4 25 | 48.9% | -21.0% | ||
| Q3 25 | 36.9% | -80.6% | ||
| Q2 25 | 25.0% | -10.5% | ||
| Q1 25 | 33.7% | -4.9% | ||
| Q4 24 | 54.7% | -56.6% | ||
| Q3 24 | 19.2% | 6.5% | ||
| Q2 24 | 24.2% | 7.2% | ||
| Q1 24 | 40.5% | 8.6% |
| Q4 25 | $1.01 | $-1.55 | ||
| Q3 25 | $0.76 | $-4.66 | ||
| Q2 25 | $0.50 | $-0.49 | ||
| Q1 25 | $0.67 | $-0.37 | ||
| Q4 24 | $1.10 | $-2.61 | ||
| Q3 24 | $0.38 | $0.26 | ||
| Q2 24 | $0.47 | $0.20 | ||
| Q1 24 | $0.77 | $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 | $55.9M | — |
| Total DebtLower is stronger | $8.2B | $270.2M |
| Stockholders' EquityBook value | $11.0B | $-378.8M |
| Total Assets | $20.7B | $5.2B |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $55.9M | — | ||
| Q3 25 | $93.1M | — | ||
| Q2 25 | $31.3M | — | ||
| Q1 25 | $39.8M | — | ||
| Q4 24 | $62.3M | — | ||
| Q3 24 | $28.6M | — | ||
| Q2 24 | $38.3M | — | ||
| Q1 24 | $44.5M | — |
| Q4 25 | $8.2B | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | $8.2B | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
| Q4 25 | $11.0B | $-378.8M | ||
| Q3 25 | $11.1B | $-233.5M | ||
| Q2 25 | $11.0B | $153.9M | ||
| Q1 25 | $11.0B | $179.4M | ||
| Q4 24 | $11.0B | $209.8M | ||
| Q3 24 | $10.9B | $397.5M | ||
| Q2 24 | $11.0B | $366.9M | ||
| Q1 24 | $11.1B | $324.5M |
| Q4 25 | $20.7B | $5.2B | ||
| Q3 25 | $21.1B | $5.3B | ||
| Q2 25 | $21.0B | $4.8B | ||
| Q1 25 | $20.6B | $4.6B | ||
| Q4 24 | $20.8B | $4.3B | ||
| Q3 24 | $20.9B | $4.0B | ||
| Q2 24 | $19.8B | $3.8B | ||
| Q1 24 | $19.9B | $3.8B |
| Q4 25 | 0.75× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 0.74× | 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 | $387.0M | $27.2M |
| Free Cash FlowOCF − Capex | — | $26.7M |
| FCF MarginFCF / Revenue | — | 4.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 1.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $387.0M | $27.2M | ||
| Q3 25 | $476.7M | $16.2M | ||
| Q2 25 | $359.5M | $46.3M | ||
| Q1 25 | $425.5M | $-66.5M | ||
| Q4 24 | $354.2M | $27.6M | ||
| Q3 24 | $401.4M | $53.7M | ||
| Q2 24 | $396.9M | $50.2M | ||
| Q1 24 | $421.0M | $7.6M |
| Q4 25 | — | $26.7M | ||
| Q3 25 | — | $15.9M | ||
| Q2 25 | — | $45.2M | ||
| Q1 25 | — | $-69.2M | ||
| Q4 24 | — | $27.0M | ||
| Q3 24 | — | $52.4M | ||
| Q2 24 | — | $49.6M | ||
| Q1 24 | — | $6.7M |
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | — | -18.3% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 19.3% | ||
| Q2 24 | — | 26.6% | ||
| Q1 24 | — | 1.9% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | 1.01× | — | ||
| Q3 25 | 1.65× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | 1.66× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 2.80× | 3.05× | ||
| Q2 24 | 2.24× | 3.76× | ||
| Q1 24 | 1.42× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EQR
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% |
