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Side-by-side financial comparison of IDEX Corporation (IEX) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
IDEX Corporation is the larger business by last-quarter revenue ($899.1M vs $586.5M, roughly 1.5× StepStone Group Inc.). IDEX Corporation runs the higher net margin — 14.3% vs -21.0%, a 35.3% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 4.2%). IDEX Corporation produced more free cash flow last quarter ($189.8M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 6.0%).
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
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.
IEX vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $899.1M | $586.5M |
| Net Profit | $128.3M | $-123.5M |
| Gross Margin | 43.1% | — |
| Operating Margin | 20.4% | -33.2% |
| Net Margin | 14.3% | -21.0% |
| Revenue YoY | 4.2% | 73.0% |
| Net Profit YoY | 4.1% | 35.7% |
| EPS (diluted) | $1.71 | $-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 | $899.1M | $586.5M | ||
| Q3 25 | $878.7M | $454.2M | ||
| Q2 25 | $865.4M | $364.3M | ||
| Q1 25 | $814.3M | $377.7M | ||
| Q4 24 | $862.9M | $339.0M | ||
| Q3 24 | $798.2M | $271.7M | ||
| Q2 24 | $807.2M | $186.4M | ||
| Q1 24 | $800.5M | $356.8M |
| Q4 25 | $128.3M | $-123.5M | ||
| Q3 25 | $127.8M | $-366.1M | ||
| Q2 25 | $131.6M | $-38.4M | ||
| Q1 25 | $95.5M | $-18.5M | ||
| Q4 24 | $123.2M | $-192.0M | ||
| Q3 24 | $119.1M | $17.6M | ||
| Q2 24 | $141.3M | $13.3M | ||
| Q1 24 | $121.4M | $30.8M |
| Q4 25 | 43.1% | — | ||
| Q3 25 | 44.5% | — | ||
| Q2 25 | 45.3% | — | ||
| Q1 25 | 45.3% | — | ||
| Q4 24 | 42.5% | — | ||
| Q3 24 | 44.3% | — | ||
| Q2 24 | 45.4% | — | ||
| Q1 24 | 44.6% | — |
| Q4 25 | 20.4% | -33.2% | ||
| Q3 25 | 21.1% | -148.8% | ||
| Q2 25 | 21.7% | -5.6% | ||
| Q1 25 | 17.4% | 2.6% | ||
| Q4 24 | 19.2% | -101.7% | ||
| Q3 24 | 21.0% | 21.3% | ||
| Q2 24 | 22.6% | 29.4% | ||
| Q1 24 | 20.1% | 26.5% |
| Q4 25 | 14.3% | -21.0% | ||
| Q3 25 | 14.5% | -80.6% | ||
| Q2 25 | 15.2% | -10.5% | ||
| Q1 25 | 11.7% | -4.9% | ||
| Q4 24 | 14.3% | -56.6% | ||
| Q3 24 | 14.9% | 6.5% | ||
| Q2 24 | 17.5% | 7.2% | ||
| Q1 24 | 15.2% | 8.6% |
| Q4 25 | $1.71 | $-1.55 | ||
| Q3 25 | $1.70 | $-4.66 | ||
| Q2 25 | $1.74 | $-0.49 | ||
| Q1 25 | $1.26 | $-0.37 | ||
| Q4 24 | $1.61 | $-2.61 | ||
| Q3 24 | $1.57 | $0.26 | ||
| Q2 24 | $1.86 | $0.20 | ||
| Q1 24 | $1.60 | $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 | $580.0M | — |
| Total DebtLower is stronger | $1.8B | $270.2M |
| Stockholders' EquityBook value | $4.0B | $-378.8M |
| Total Assets | $6.9B | $5.2B |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $580.0M | — | ||
| Q3 25 | $593.8M | — | ||
| Q2 25 | $568.2M | — | ||
| Q1 25 | $594.1M | — | ||
| Q4 24 | $620.8M | — | ||
| Q3 24 | $633.2M | — | ||
| Q2 24 | $700.7M | — | ||
| Q1 24 | $616.3M | — |
| Q4 25 | $1.8B | $270.2M | ||
| Q3 25 | $1.9B | $269.9M | ||
| Q2 25 | $1.9B | $269.6M | ||
| Q1 25 | $2.0B | $269.3M | ||
| Q4 24 | $2.0B | $168.9M | ||
| Q3 24 | $2.1B | $172.3M | ||
| Q2 24 | $1.3B | $172.1M | ||
| Q1 24 | $1.3B | $148.8M |
| Q4 25 | $4.0B | $-378.8M | ||
| Q3 25 | $4.0B | $-233.5M | ||
| Q2 25 | $4.0B | $153.9M | ||
| Q1 25 | $3.9B | $179.4M | ||
| Q4 24 | $3.8B | $209.8M | ||
| Q3 24 | $3.8B | $397.5M | ||
| Q2 24 | $3.7B | $366.9M | ||
| Q1 24 | $3.6B | $324.5M |
| Q4 25 | $6.9B | $5.2B | ||
| Q3 25 | $7.0B | $5.3B | ||
| Q2 25 | $6.9B | $4.8B | ||
| Q1 25 | $6.8B | $4.6B | ||
| Q4 24 | $6.7B | $4.3B | ||
| Q3 24 | $7.0B | $4.0B | ||
| Q2 24 | $5.9B | $3.8B | ||
| Q1 24 | $5.9B | $3.8B |
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.46× | 1.75× | ||
| Q1 25 | 0.50× | 1.50× | ||
| Q4 24 | 0.52× | 0.81× | ||
| Q3 24 | 0.55× | 0.43× | ||
| Q2 24 | 0.36× | 0.47× | ||
| Q1 24 | 0.37× | 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 | $209.5M | $27.2M |
| Free Cash FlowOCF − Capex | $189.8M | $26.7M |
| FCF MarginFCF / Revenue | 21.1% | 4.6% |
| Capex IntensityCapex / Revenue | 2.2% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $616.8M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $209.5M | $27.2M | ||
| Q3 25 | $203.5M | $16.2M | ||
| Q2 25 | $161.7M | $46.3M | ||
| Q1 25 | $105.7M | $-66.5M | ||
| Q4 24 | $172.6M | $27.6M | ||
| Q3 24 | $205.3M | $53.7M | ||
| Q2 24 | $133.6M | $50.2M | ||
| Q1 24 | $156.6M | $7.6M |
| Q4 25 | $189.8M | $26.7M | ||
| Q3 25 | $188.7M | $15.9M | ||
| Q2 25 | $146.9M | $45.2M | ||
| Q1 25 | $91.4M | $-69.2M | ||
| Q4 24 | $157.1M | $27.0M | ||
| Q3 24 | $191.6M | $52.4M | ||
| Q2 24 | $117.7M | $49.6M | ||
| Q1 24 | $136.6M | $6.7M |
| Q4 25 | 21.1% | 4.6% | ||
| Q3 25 | 21.5% | 3.5% | ||
| Q2 25 | 17.0% | 12.4% | ||
| Q1 25 | 11.2% | -18.3% | ||
| Q4 24 | 18.2% | 8.0% | ||
| Q3 24 | 24.0% | 19.3% | ||
| Q2 24 | 14.6% | 26.6% | ||
| Q1 24 | 17.1% | 1.9% |
| Q4 25 | 2.2% | 0.1% | ||
| Q3 25 | 1.7% | 0.1% | ||
| Q2 25 | 1.7% | 0.3% | ||
| Q1 25 | 1.8% | 0.7% | ||
| Q4 24 | 1.8% | 0.2% | ||
| Q3 24 | 1.7% | 0.5% | ||
| Q2 24 | 2.0% | 0.3% | ||
| Q1 24 | 2.5% | 0.3% |
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.59× | — | ||
| Q2 25 | 1.23× | — | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 1.40× | — | ||
| Q3 24 | 1.72× | 3.05× | ||
| Q2 24 | 0.95× | 3.76× | ||
| Q1 24 | 1.29× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IEX
| Fluid And Metering Technologies | $305.0M | 34% |
| Fireand Safety | $125.0M | 14% |
| Pumps | $105.7M | 12% |
| Water1 | $92.1M | 10% |
| Performance Pneumatic Technologies | $70.2M | 8% |
| Sealing Solutions | $64.0M | 7% |
| Energy | $47.9M | 5% |
| Material Processing Technologies | $37.2M | 4% |
| Dispensing | $33.5M | 4% |
| Valves | $22.7M | 3% |
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% |
