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Side-by-side financial comparison of Hillman Solutions Corp. (HLMN) 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 $370.1M, roughly 1.6× Hillman Solutions Corp.). Hillman Solutions Corp. runs the higher net margin — -1.3% vs -21.0%, a 19.8% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 3.0%). StepStone Group Inc. produced more free cash flow last quarter ($26.7M vs $-34.3M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs -1.2%).
Hillman Solutions is an American hardware manufacturing, distribution and consumer fabrication services company.
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.
HLMN vs STEP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $370.1M | $586.5M |
| Net Profit | $-4.7M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | 1.9% | -33.2% |
| Net Margin | -1.3% | -21.0% |
| Revenue YoY | 3.0% | 73.0% |
| Net Profit YoY | — | 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.
| Q1 26 | $370.1M | — | ||
| Q4 25 | $365.1M | $586.5M | ||
| Q3 25 | $424.9M | $454.2M | ||
| Q2 25 | $402.8M | $364.3M | ||
| Q1 25 | $359.3M | $377.7M | ||
| Q4 24 | $349.6M | $339.0M | ||
| Q3 24 | $393.3M | $271.7M | ||
| Q2 24 | $379.4M | $186.4M |
| Q1 26 | $-4.7M | — | ||
| Q4 25 | $1.6M | $-123.5M | ||
| Q3 25 | $23.2M | $-366.1M | ||
| Q2 25 | $15.8M | $-38.4M | ||
| Q1 25 | $-317.0K | $-18.5M | ||
| Q4 24 | $-1.2M | $-192.0M | ||
| Q3 24 | $7.4M | $17.6M | ||
| Q2 24 | $12.5M | $13.3M |
| Q1 26 | 1.9% | — | ||
| Q4 25 | 4.6% | -33.2% | ||
| Q3 25 | 10.8% | -148.8% | ||
| Q2 25 | 9.0% | -5.6% | ||
| Q1 25 | 4.2% | 2.6% | ||
| Q4 24 | 4.0% | -101.7% | ||
| Q3 24 | 6.8% | 21.3% | ||
| Q2 24 | 8.3% | 29.4% |
| Q1 26 | -1.3% | — | ||
| Q4 25 | 0.4% | -21.0% | ||
| Q3 25 | 5.5% | -80.6% | ||
| Q2 25 | 3.9% | -10.5% | ||
| Q1 25 | -0.1% | -4.9% | ||
| Q4 24 | -0.3% | -56.6% | ||
| Q3 24 | 1.9% | 6.5% | ||
| Q2 24 | 3.3% | 7.2% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $0.00 | $-1.55 | ||
| Q3 25 | $0.12 | $-4.66 | ||
| Q2 25 | $0.08 | $-0.49 | ||
| Q1 25 | $0.00 | $-0.37 | ||
| Q4 24 | $-0.00 | $-2.61 | ||
| Q3 24 | $0.04 | $0.26 | ||
| Q2 24 | $0.06 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $27.7M | — |
| Total DebtLower is stronger | $714.1M | $270.2M |
| Stockholders' EquityBook value | $1.2B | $-378.8M |
| Total Assets | $2.4B | $5.2B |
| Debt / EquityLower = less leverage | 0.59× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $27.7M | — | ||
| Q4 25 | $27.3M | — | ||
| Q3 25 | $37.7M | — | ||
| Q2 25 | $34.2M | — | ||
| Q1 25 | $36.3M | — | ||
| Q4 24 | $44.5M | — | ||
| Q3 24 | $59.8M | — | ||
| Q2 24 | $54.0M | — |
| Q1 26 | $714.1M | — | ||
| Q4 25 | $668.3M | $270.2M | ||
| Q3 25 | $683.2M | $269.9M | ||
| Q2 25 | $683.1M | $269.6M | ||
| Q1 25 | $713.5M | $269.3M | ||
| Q4 24 | $691.7M | $168.9M | ||
| Q3 24 | $730.7M | $172.3M | ||
| Q2 24 | $732.1M | $172.1M |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $-378.8M | ||
| Q3 25 | $1.2B | $-233.5M | ||
| Q2 25 | $1.2B | $153.9M | ||
| Q1 25 | $1.2B | $179.4M | ||
| Q4 24 | $1.2B | $209.8M | ||
| Q3 24 | $1.2B | $397.5M | ||
| Q2 24 | $1.2B | $366.9M |
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.4B | $5.2B | ||
| Q3 25 | $2.4B | $5.3B | ||
| Q2 25 | $2.4B | $4.8B | ||
| Q1 25 | $2.3B | $4.6B | ||
| Q4 24 | $2.3B | $4.3B | ||
| Q3 24 | $2.4B | $4.0B | ||
| Q2 24 | $2.4B | $3.8B |
| Q1 26 | 0.59× | — | ||
| Q4 25 | 0.54× | — | ||
| Q3 25 | 0.56× | — | ||
| Q2 25 | 0.57× | 1.75× | ||
| Q1 25 | 0.60× | 1.50× | ||
| Q4 24 | 0.59× | 0.81× | ||
| Q3 24 | 0.62× | 0.43× | ||
| Q2 24 | 0.62× | 0.47× |
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 | — | $27.2M |
| Free Cash FlowOCF − Capex | $-34.3M | $26.7M |
| FCF MarginFCF / Revenue | -9.3% | 4.6% |
| Capex IntensityCapex / Revenue | 4.0% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $22.1M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $30.9M | $27.2M | ||
| Q3 25 | $26.2M | $16.2M | ||
| Q2 25 | $48.7M | $46.3M | ||
| Q1 25 | $-655.0K | $-66.5M | ||
| Q4 24 | $43.1M | $27.6M | ||
| Q3 24 | $63.7M | $53.7M | ||
| Q2 24 | $64.8M | $50.2M |
| Q1 26 | $-34.3M | — | ||
| Q4 25 | $16.1M | $26.7M | ||
| Q3 25 | $9.1M | $15.9M | ||
| Q2 25 | $31.2M | $45.2M | ||
| Q1 25 | $-21.3M | $-69.2M | ||
| Q4 24 | $22.1M | $27.0M | ||
| Q3 24 | $39.6M | $52.4M | ||
| Q2 24 | $42.5M | $49.6M |
| Q1 26 | -9.3% | — | ||
| Q4 25 | 4.4% | 4.6% | ||
| Q3 25 | 2.1% | 3.5% | ||
| Q2 25 | 7.7% | 12.4% | ||
| Q1 25 | -5.9% | -18.3% | ||
| Q4 24 | 6.3% | 8.0% | ||
| Q3 24 | 10.1% | 19.3% | ||
| Q2 24 | 11.2% | 26.6% |
| Q1 26 | 4.0% | — | ||
| Q4 25 | 4.0% | 0.1% | ||
| Q3 25 | 4.0% | 0.1% | ||
| Q2 25 | 4.3% | 0.3% | ||
| Q1 25 | 5.7% | 0.7% | ||
| Q4 24 | 6.0% | 0.2% | ||
| Q3 24 | 6.1% | 0.5% | ||
| Q2 24 | 5.9% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 19.33× | — | ||
| Q3 25 | 1.13× | — | ||
| Q2 25 | 3.08× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.57× | 3.05× | ||
| Q2 24 | 5.17× | 3.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLMN
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% |
