vs
Side-by-side financial comparison of iHeartMedia, Inc. (IHRT) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
iHeartMedia, Inc. is the larger business by last-quarter revenue ($1.1B vs $586.5M, roughly 1.9× StepStone Group Inc.). iHeartMedia, Inc. runs the higher net margin — -3.7% vs -21.0%, a 17.3% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 0.8%). iHeartMedia, Inc. produced more free cash flow last quarter ($137.6M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 18.8%).
iHeartMedia, Inc., or CC Media Holdings, Inc., is an American mass media corporation headquartered in San Antonio, Texas. It is the holding company of iHeartCommunications, Inc., formerly Clear Channel Communications, Inc., a company founded by Lowry Mays and Red McCombs in 1972, and later taken private by Bain Capital and Thomas H. Lee Partners in a leveraged buyout in 2008.
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.
IHRT vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $586.5M |
| Net Profit | $-41.9M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | 7.6% | -33.2% |
| Net Margin | -3.7% | -21.0% |
| Revenue YoY | 0.8% | 73.0% |
| Net Profit YoY | -233.1% | 35.7% |
| EPS (diluted) | $-0.25 | $-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 | $1.1B | $586.5M | ||
| Q3 25 | $997.0M | $454.2M | ||
| Q2 25 | $933.7M | $364.3M | ||
| Q1 25 | $807.1M | $377.7M | ||
| Q4 24 | $1.1B | $339.0M | ||
| Q3 24 | $1.0B | $271.7M | ||
| Q2 24 | $929.1M | $186.4M | ||
| Q1 24 | $799.0M | $356.8M |
| Q4 25 | $-41.9M | $-123.5M | ||
| Q3 25 | $-66.3M | $-366.1M | ||
| Q2 25 | $-83.5M | $-38.4M | ||
| Q1 25 | $-281.2M | $-18.5M | ||
| Q4 24 | $31.5M | $-192.0M | ||
| Q3 24 | $-41.3M | $17.6M | ||
| Q2 24 | $-981.7M | $13.3M | ||
| Q1 24 | $-18.5M | $30.8M |
| Q4 25 | 7.6% | -33.2% | ||
| Q3 25 | -11.7% | -148.8% | ||
| Q2 25 | 3.8% | -5.6% | ||
| Q1 25 | -3.2% | 2.6% | ||
| Q4 24 | 9.3% | -101.7% | ||
| Q3 24 | 7.6% | 21.3% | ||
| Q2 24 | -97.9% | 29.4% | ||
| Q1 24 | -4.3% | 26.5% |
| Q4 25 | -3.7% | -21.0% | ||
| Q3 25 | -6.6% | -80.6% | ||
| Q2 25 | -8.9% | -10.5% | ||
| Q1 25 | -34.8% | -4.9% | ||
| Q4 24 | 2.8% | -56.6% | ||
| Q3 24 | -4.1% | 6.5% | ||
| Q2 24 | -105.7% | 7.2% | ||
| Q1 24 | -2.3% | 8.6% |
| Q4 25 | $-0.25 | $-1.55 | ||
| Q3 25 | $-0.43 | $-4.66 | ||
| Q2 25 | $-0.54 | $-0.49 | ||
| Q1 25 | $-1.84 | $-0.37 | ||
| Q4 24 | $0.21 | $-2.61 | ||
| Q3 24 | $-0.27 | $0.26 | ||
| Q2 24 | $-6.50 | $0.20 | ||
| Q1 24 | $-0.12 | $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 | $270.9M | — |
| Total DebtLower is stronger | $5.1B | $270.2M |
| Stockholders' EquityBook value | $-1.8B | $-378.8M |
| Total Assets | $5.1B | $5.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $270.9M | — | ||
| Q3 25 | $192.2M | — | ||
| Q2 25 | $235.9M | — | ||
| Q1 25 | $167.7M | — | ||
| Q4 24 | $259.6M | — | ||
| Q3 24 | $431.8M | — | ||
| Q2 24 | $364.7M | — | ||
| Q1 24 | $361.4M | — |
| Q4 25 | $5.1B | $270.2M | ||
| Q3 25 | $5.1B | $269.9M | ||
| Q2 25 | $5.1B | $269.6M | ||
| Q1 25 | $5.1B | $269.3M | ||
| Q4 24 | $5.1B | $168.9M | ||
| Q3 24 | $5.2B | $172.3M | ||
| Q2 24 | $5.2B | $172.1M | ||
| Q1 24 | $5.1B | $148.8M |
| Q4 25 | $-1.8B | $-378.8M | ||
| Q3 25 | $-1.8B | $-233.5M | ||
| Q2 25 | $-1.7B | $153.9M | ||
| Q1 25 | $-1.6B | $179.4M | ||
| Q4 24 | $-1.4B | $209.8M | ||
| Q3 24 | $-1.4B | $397.5M | ||
| Q2 24 | $-1.4B | $366.9M | ||
| Q1 24 | $-398.6M | $324.5M |
| Q4 25 | $5.1B | $5.2B | ||
| Q3 25 | $5.1B | $5.3B | ||
| Q2 25 | $5.4B | $4.8B | ||
| Q1 25 | $5.3B | $4.6B | ||
| Q4 24 | $5.6B | $4.3B | ||
| Q3 24 | $5.8B | $4.0B | ||
| Q2 24 | $5.8B | $3.8B | ||
| Q1 24 | $6.8B | $3.8B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 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 | $156.3M | $27.2M |
| Free Cash FlowOCF − Capex | $137.6M | $26.7M |
| FCF MarginFCF / Revenue | 12.2% | 4.6% |
| Capex IntensityCapex / Revenue | 1.7% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $10.9M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $156.3M | $27.2M | ||
| Q3 25 | $-9.5M | $16.2M | ||
| Q2 25 | $6.8M | $46.3M | ||
| Q1 25 | $-60.9M | $-66.5M | ||
| Q4 24 | $1.2M | $27.6M | ||
| Q3 24 | $102.8M | $53.7M | ||
| Q2 24 | $26.7M | $50.2M | ||
| Q1 24 | $-59.3M | $7.6M |
| Q4 25 | $137.6M | $26.7M | ||
| Q3 25 | $-32.8M | $15.9M | ||
| Q2 25 | $-13.2M | $45.2M | ||
| Q1 25 | $-80.7M | $-69.2M | ||
| Q4 24 | $-24.2M | $27.0M | ||
| Q3 24 | $73.3M | $52.4M | ||
| Q2 24 | $5.6M | $49.6M | ||
| Q1 24 | $-80.9M | $6.7M |
| Q4 25 | 12.2% | 4.6% | ||
| Q3 25 | -3.3% | 3.5% | ||
| Q2 25 | -1.4% | 12.4% | ||
| Q1 25 | -10.0% | -18.3% | ||
| Q4 24 | -2.2% | 8.0% | ||
| Q3 24 | 7.3% | 19.3% | ||
| Q2 24 | 0.6% | 26.6% | ||
| Q1 24 | -10.1% | 1.9% |
| Q4 25 | 1.7% | 0.1% | ||
| Q3 25 | 2.3% | 0.1% | ||
| Q2 25 | 2.1% | 0.3% | ||
| Q1 25 | 2.4% | 0.7% | ||
| Q4 24 | 2.3% | 0.2% | ||
| Q3 24 | 2.9% | 0.5% | ||
| Q2 24 | 2.3% | 0.3% | ||
| Q1 24 | 2.7% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | — | 3.05× | ||
| Q2 24 | — | 3.76× | ||
| Q1 24 | — | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHRT
| Broadcast Radio | $469.9M | 42% |
| Digital Non Podcast | $212.9M | 19% |
| Tradeand Barter Transactions | $124.4M | 11% |
| Networks | $118.2M | 10% |
| Audio And Media Services Group Segment | $78.9M | 7% |
| Sponsorship And Events | $71.4M | 6% |
| Advertising Trade And Barter Transactions | $23.7M | 2% |
| Other | $22.7M | 2% |
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% |
