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Side-by-side financial comparison of Acushnet Holdings Corp. (GOLF) 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 $477.2M, roughly 1.2× Acushnet Holdings Corp.). Acushnet Holdings Corp. runs the higher net margin — -7.3% vs -21.0%, a 13.7% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 7.2%). StepStone Group Inc. produced more free cash flow last quarter ($26.7M vs $-23.3M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs -17.9%).
The Acushnet Company is an American company focused on the golf market. The company operates a series of brands that manufacture golf equipment, clothing and accessories.
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.
GOLF vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $477.2M | $586.5M |
| Net Profit | $-34.9M | $-123.5M |
| Gross Margin | 44.1% | — |
| Operating Margin | -3.8% | -33.2% |
| Net Margin | -7.3% | -21.0% |
| Revenue YoY | 7.2% | 73.0% |
| Net Profit YoY | -3027.3% | 35.7% |
| EPS (diluted) | $-0.57 | $-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 | $477.2M | $586.5M | ||
| Q3 25 | $657.7M | $454.2M | ||
| Q2 25 | $720.5M | $364.3M | ||
| Q1 25 | $703.4M | $377.7M | ||
| Q4 24 | $445.2M | $339.0M | ||
| Q3 24 | $620.5M | $271.7M | ||
| Q2 24 | $683.9M | $186.4M | ||
| Q1 24 | $707.6M | $356.8M |
| Q4 25 | $-34.9M | $-123.5M | ||
| Q3 25 | $48.5M | $-366.1M | ||
| Q2 25 | $75.6M | $-38.4M | ||
| Q1 25 | $99.4M | $-18.5M | ||
| Q4 24 | $-1.1M | $-192.0M | ||
| Q3 24 | $56.2M | $17.6M | ||
| Q2 24 | $71.4M | $13.3M | ||
| Q1 24 | $87.8M | $30.8M |
| Q4 25 | 44.1% | — | ||
| Q3 25 | 48.5% | — | ||
| Q2 25 | 49.2% | — | ||
| Q1 25 | 47.9% | — | ||
| Q4 24 | 22.6% | — | ||
| Q3 24 | 54.4% | — | ||
| Q2 24 | 54.4% | — | ||
| Q1 24 | 53.4% | — |
| Q4 25 | -3.8% | -33.2% | ||
| Q3 25 | 14.1% | -148.8% | ||
| Q2 25 | 15.2% | -5.6% | ||
| Q1 25 | 16.3% | 2.6% | ||
| Q4 24 | -1.2% | -101.7% | ||
| Q3 24 | 13.2% | 21.3% | ||
| Q2 24 | 15.5% | 29.4% | ||
| Q1 24 | 17.2% | 26.5% |
| Q4 25 | -7.3% | -21.0% | ||
| Q3 25 | 7.4% | -80.6% | ||
| Q2 25 | 10.5% | -10.5% | ||
| Q1 25 | 14.1% | -4.9% | ||
| Q4 24 | -0.3% | -56.6% | ||
| Q3 24 | 9.1% | 6.5% | ||
| Q2 24 | 10.4% | 7.2% | ||
| Q1 24 | 12.4% | 8.6% |
| Q4 25 | $-0.57 | $-1.55 | ||
| Q3 25 | $0.81 | $-4.66 | ||
| Q2 25 | $1.25 | $-0.49 | ||
| Q1 25 | $1.62 | $-0.37 | ||
| Q4 24 | $0.02 | $-2.61 | ||
| Q3 24 | $0.89 | $0.26 | ||
| Q2 24 | $1.11 | $0.20 | ||
| Q1 24 | $1.35 | $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 | $926.2M | $270.2M |
| Stockholders' EquityBook value | $783.6M | $-378.8M |
| Total Assets | $2.3B | $5.2B |
| Debt / EquityLower = less leverage | 1.18× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $926.2M | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | $753.1M | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
| Q4 25 | $783.6M | $-378.8M | ||
| Q3 25 | $852.3M | $-233.5M | ||
| Q2 25 | $808.5M | $153.9M | ||
| Q1 25 | $780.3M | $179.4M | ||
| Q4 24 | $765.2M | $209.8M | ||
| Q3 24 | $863.9M | $397.5M | ||
| Q2 24 | $863.7M | $366.9M | ||
| Q1 24 | $883.7M | $324.5M |
| Q4 25 | $2.3B | $5.2B | ||
| Q3 25 | $2.4B | $5.3B | ||
| Q2 25 | $2.4B | $4.8B | ||
| Q1 25 | $2.4B | $4.6B | ||
| Q4 24 | $2.2B | $4.3B | ||
| Q3 24 | $2.3B | $4.0B | ||
| Q2 24 | $2.3B | $3.8B | ||
| Q1 24 | $2.4B | $3.8B |
| Q4 25 | 1.18× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 0.98× | 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 | $-338.0K | $27.2M |
| Free Cash FlowOCF − Capex | $-23.3M | $26.7M |
| FCF MarginFCF / Revenue | -4.9% | 4.6% |
| Capex IntensityCapex / Revenue | 4.8% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $120.0M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-338.0K | $27.2M | ||
| Q3 25 | $163.1M | $16.2M | ||
| Q2 25 | $151.9M | $46.3M | ||
| Q1 25 | $-120.3M | $-66.5M | ||
| Q4 24 | $-1.1M | $27.6M | ||
| Q3 24 | $144.1M | $53.7M | ||
| Q2 24 | $211.6M | $50.2M | ||
| Q1 24 | $-109.5M | $7.6M |
| Q4 25 | $-23.3M | $26.7M | ||
| Q3 25 | $136.9M | $15.9M | ||
| Q2 25 | $138.0M | $45.2M | ||
| Q1 25 | $-131.5M | $-69.2M | ||
| Q4 24 | $-33.2M | $27.0M | ||
| Q3 24 | $123.7M | $52.4M | ||
| Q2 24 | $196.8M | $49.6M | ||
| Q1 24 | $-116.8M | $6.7M |
| Q4 25 | -4.9% | 4.6% | ||
| Q3 25 | 20.8% | 3.5% | ||
| Q2 25 | 19.2% | 12.4% | ||
| Q1 25 | -18.7% | -18.3% | ||
| Q4 24 | -7.5% | 8.0% | ||
| Q3 24 | 19.9% | 19.3% | ||
| Q2 24 | 28.8% | 26.6% | ||
| Q1 24 | -16.5% | 1.9% |
| Q4 25 | 4.8% | 0.1% | ||
| Q3 25 | 4.0% | 0.1% | ||
| Q2 25 | 1.9% | 0.3% | ||
| Q1 25 | 1.6% | 0.7% | ||
| Q4 24 | 7.2% | 0.2% | ||
| Q3 24 | 3.3% | 0.5% | ||
| Q2 24 | 2.2% | 0.3% | ||
| Q1 24 | 1.0% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | 3.36× | — | ||
| Q2 25 | 2.01× | — | ||
| Q1 25 | -1.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.56× | 3.05× | ||
| Q2 24 | 2.96× | 3.76× | ||
| Q1 24 | -1.25× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
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% |
