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Side-by-side financial comparison of FOX FACTORY HOLDING CORP (FOXF) 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 $376.4M, roughly 1.6× FOX FACTORY HOLDING CORP). FOX FACTORY HOLDING CORP runs the higher net margin — -0.2% vs -21.0%, a 20.9% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 4.8%). StepStone Group Inc. produced more free cash flow last quarter ($26.7M vs $-2.5M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 6.4%).
Fox Factory Holding Corp. is an American company best known for their Fox Racing Shox brand of off-road racing suspension components.
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.
FOXF vs STEP — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $376.4M | $586.5M |
| Net Profit | $-634.0K | $-123.5M |
| Gross Margin | 30.4% | — |
| Operating Margin | 4.0% | -33.2% |
| Net Margin | -0.2% | -21.0% |
| Revenue YoY | 4.8% | 73.0% |
| Net Profit YoY | -113.3% | 35.7% |
| EPS (diluted) | $-0.02 | $-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 | $376.4M | $586.5M | ||
| Q3 25 | $374.9M | $454.2M | ||
| Q2 25 | $355.0M | $364.3M | ||
| Q1 25 | $352.8M | $377.7M | ||
| Q4 24 | — | $339.0M | ||
| Q3 24 | $359.1M | $271.7M | ||
| Q2 24 | $348.5M | $186.4M | ||
| Q1 24 | $333.5M | $356.8M |
| Q4 25 | $-634.0K | $-123.5M | ||
| Q3 25 | $2.7M | $-366.1M | ||
| Q2 25 | $-259.7M | $-38.4M | ||
| Q1 25 | $-141.0K | $-18.5M | ||
| Q4 24 | — | $-192.0M | ||
| Q3 24 | $4.8M | $17.6M | ||
| Q2 24 | $5.4M | $13.3M | ||
| Q1 24 | $-3.5M | $30.8M |
| Q4 25 | 30.4% | — | ||
| Q3 25 | 31.2% | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | 28.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 29.9% | — | ||
| Q2 24 | 31.8% | — | ||
| Q1 24 | 30.9% | — |
| Q4 25 | 4.0% | -33.2% | ||
| Q3 25 | 4.9% | -148.8% | ||
| Q2 25 | -70.6% | -5.6% | ||
| Q1 25 | 3.2% | 2.6% | ||
| Q4 24 | — | -101.7% | ||
| Q3 24 | 5.2% | 21.3% | ||
| Q2 24 | 5.3% | 29.4% | ||
| Q1 24 | 2.7% | 26.5% |
| Q4 25 | -0.2% | -21.0% | ||
| Q3 25 | 0.7% | -80.6% | ||
| Q2 25 | -73.1% | -10.5% | ||
| Q1 25 | -0.0% | -4.9% | ||
| Q4 24 | — | -56.6% | ||
| Q3 24 | 1.3% | 6.5% | ||
| Q2 24 | 1.6% | 7.2% | ||
| Q1 24 | -1.0% | 8.6% |
| Q4 25 | $-0.02 | $-1.55 | ||
| Q3 25 | $0.07 | $-4.66 | ||
| Q2 25 | $-6.23 | $-0.49 | ||
| Q1 25 | $0.00 | $-0.37 | ||
| Q4 24 | — | $-2.61 | ||
| Q3 24 | $0.11 | $0.26 | ||
| Q2 24 | $0.13 | $0.20 | ||
| Q1 24 | $-0.08 | $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 | — | — |
| Total DebtLower is stronger | $536.7M | $270.2M |
| Stockholders' EquityBook value | $956.0M | $-378.8M |
| Total Assets | $2.0B | $5.2B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $71.7M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $536.7M | $270.2M | ||
| Q3 25 | $541.8M | $269.9M | ||
| Q2 25 | $546.9M | $269.6M | ||
| Q1 25 | $552.1M | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | $558.4M | $172.3M | ||
| Q2 24 | $564.1M | $172.1M | ||
| Q1 24 | $370.4M | $148.8M |
| Q4 25 | $956.0M | $-378.8M | ||
| Q3 25 | $958.7M | $-233.5M | ||
| Q2 25 | $939.9M | $153.9M | ||
| Q1 25 | $1.2B | $179.4M | ||
| Q4 24 | — | $209.8M | ||
| Q3 24 | $1.2B | $397.5M | ||
| Q2 24 | $1.2B | $366.9M | ||
| Q1 24 | $1.2B | $324.5M |
| Q4 25 | $2.0B | $5.2B | ||
| Q3 25 | $2.0B | $5.3B | ||
| Q2 25 | $1.9B | $4.8B | ||
| Q1 25 | $2.2B | $4.6B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | $2.3B | $4.0B | ||
| Q2 24 | $2.3B | $3.8B | ||
| Q1 24 | $2.2B | $3.8B |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | 1.75× | ||
| Q1 25 | 0.46× | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | 0.47× | 0.43× | ||
| Q2 24 | 0.47× | 0.47× | ||
| Q1 24 | 0.31× | 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 | $5.3M | $27.2M |
| Free Cash FlowOCF − Capex | $-2.5M | $26.7M |
| FCF MarginFCF / Revenue | -0.7% | 4.6% |
| Capex IntensityCapex / Revenue | 2.1% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $85.4M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.3M | $27.2M | ||
| Q3 25 | $36.8M | $16.2M | ||
| Q2 25 | $680.0K | $46.3M | ||
| Q1 25 | $81.7M | $-66.5M | ||
| Q4 24 | — | $27.6M | ||
| Q3 24 | $14.1M | $53.7M | ||
| Q2 24 | $26.7M | $50.2M | ||
| Q1 24 | $9.4M | $7.6M |
| Q4 25 | $-2.5M | $26.7M | ||
| Q3 25 | $24.6M | $15.9M | ||
| Q2 25 | $-6.5M | $45.2M | ||
| Q1 25 | $69.8M | $-69.2M | ||
| Q4 24 | — | $27.0M | ||
| Q3 24 | $3.2M | $52.4M | ||
| Q2 24 | $15.4M | $49.6M | ||
| Q1 24 | $-555.0K | $6.7M |
| Q4 25 | -0.7% | 4.6% | ||
| Q3 25 | 6.6% | 3.5% | ||
| Q2 25 | -1.8% | 12.4% | ||
| Q1 25 | 19.8% | -18.3% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | 0.9% | 19.3% | ||
| Q2 24 | 4.4% | 26.6% | ||
| Q1 24 | -0.2% | 1.9% |
| Q4 25 | 2.1% | 0.1% | ||
| Q3 25 | 3.3% | 0.1% | ||
| Q2 25 | 2.0% | 0.3% | ||
| Q1 25 | 3.4% | 0.7% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | 3.0% | 0.5% | ||
| Q2 24 | 3.2% | 0.3% | ||
| Q1 24 | 3.0% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | 13.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.94× | 3.05× | ||
| Q2 24 | 4.94× | 3.76× | ||
| Q1 24 | — | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOXF
| Specialty Sports Group | $132.7M | 35% |
| Powered Vehicles Group | $125.9M | 33% |
| Aftermarket Applications Group | $117.8M | 31% |
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% |
