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Side-by-side financial comparison of Grand Canyon Education, Inc. (LOPE) 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 $308.1M, roughly 1.9× Grand Canyon Education, Inc.). Grand Canyon Education, Inc. runs the higher net margin — 28.1% vs -21.0%, a 49.2% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 5.3%). Grand Canyon Education, Inc. produced more free cash flow last quarter ($122.9M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 5.9%).
Grand Canyon Education, Inc. (GCE) is an American for-profit corporation that provides services to universities, specializing in program development, online education, and operational support. Formerly affiliated with Grand Canyon University (GCU), a Christian university in Arizona, GCE became a separate publicly traded company 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.
LOPE vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $308.1M | $586.5M |
| Net Profit | $86.7M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | 35.1% | -33.2% |
| Net Margin | 28.1% | -21.0% |
| Revenue YoY | 5.3% | 73.0% |
| Net Profit YoY | 5.9% | 35.7% |
| EPS (diluted) | $3.13 | $-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 | $308.1M | $586.5M | ||
| Q3 25 | $261.1M | $454.2M | ||
| Q2 25 | $247.5M | $364.3M | ||
| Q1 25 | $289.3M | $377.7M | ||
| Q4 24 | $292.6M | $339.0M | ||
| Q3 24 | $238.3M | $271.7M | ||
| Q2 24 | $227.5M | $186.4M | ||
| Q1 24 | $274.7M | $356.8M |
| Q4 25 | $86.7M | $-123.5M | ||
| Q3 25 | $16.3M | $-366.1M | ||
| Q2 25 | $41.5M | $-38.4M | ||
| Q1 25 | $71.6M | $-18.5M | ||
| Q4 24 | $81.9M | $-192.0M | ||
| Q3 24 | $41.5M | $17.6M | ||
| Q2 24 | $34.9M | $13.3M | ||
| Q1 24 | $68.0M | $30.8M |
| Q4 25 | 35.1% | -33.2% | ||
| Q3 25 | 6.9% | -148.8% | ||
| Q2 25 | 20.9% | -5.6% | ||
| Q1 25 | 30.4% | 2.6% | ||
| Q4 24 | 34.2% | -101.7% | ||
| Q3 24 | 20.2% | 21.3% | ||
| Q2 24 | 18.8% | 29.4% | ||
| Q1 24 | 30.8% | 26.5% |
| Q4 25 | 28.1% | -21.0% | ||
| Q3 25 | 6.2% | -80.6% | ||
| Q2 25 | 16.8% | -10.5% | ||
| Q1 25 | 24.8% | -4.9% | ||
| Q4 24 | 28.0% | -56.6% | ||
| Q3 24 | 17.4% | 6.5% | ||
| Q2 24 | 15.3% | 7.2% | ||
| Q1 24 | 24.8% | 8.6% |
| Q4 25 | $3.13 | $-1.55 | ||
| Q3 25 | $0.58 | $-4.66 | ||
| Q2 25 | $1.48 | $-0.49 | ||
| Q1 25 | $2.52 | $-0.37 | ||
| Q4 24 | $2.83 | $-2.61 | ||
| Q3 24 | $1.42 | $0.26 | ||
| Q2 24 | $1.19 | $0.20 | ||
| Q1 24 | $2.29 | $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 | $111.8M | — |
| Total DebtLower is stronger | — | $270.2M |
| Stockholders' EquityBook value | $746.9M | $-378.8M |
| Total Assets | $992.3M | $5.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $111.8M | — | ||
| Q3 25 | $97.3M | — | ||
| Q2 25 | $192.3M | — | ||
| Q1 25 | $144.5M | — | ||
| Q4 24 | $324.6M | — | ||
| Q3 24 | $263.6M | — | ||
| Q2 24 | $241.3M | — | ||
| Q1 24 | $196.2M | — |
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
| Q4 25 | $746.9M | $-378.8M | ||
| Q3 25 | $758.0M | $-233.5M | ||
| Q2 25 | $778.0M | $153.9M | ||
| Q1 25 | $780.7M | $179.4M | ||
| Q4 24 | $783.9M | $209.8M | ||
| Q3 24 | $764.1M | $397.5M | ||
| Q2 24 | $759.2M | $366.9M | ||
| Q1 24 | $759.4M | $324.5M |
| Q4 25 | $992.3M | $5.2B | ||
| Q3 25 | $1.0B | $5.3B | ||
| Q2 25 | $1.0B | $4.8B | ||
| Q1 25 | $1.0B | $4.6B | ||
| Q4 24 | $1.0B | $4.3B | ||
| Q3 24 | $992.9M | $4.0B | ||
| Q2 24 | $992.7M | $3.8B | ||
| Q1 24 | $1.0B | $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 | $130.5M | $27.2M |
| Free Cash FlowOCF − Capex | $122.9M | $26.7M |
| FCF MarginFCF / Revenue | 39.9% | 4.6% |
| Capex IntensityCapex / Revenue | 2.5% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | $238.6M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $130.5M | $27.2M | ||
| Q3 25 | $-48.6M | $16.2M | ||
| Q2 25 | $124.0M | $46.3M | ||
| Q1 25 | $67.6M | $-66.5M | ||
| Q4 24 | $135.8M | $27.6M | ||
| Q3 24 | $-29.4M | $53.7M | ||
| Q2 24 | $98.6M | $50.2M | ||
| Q1 24 | $85.0M | $7.6M |
| Q4 25 | $122.9M | $26.7M | ||
| Q3 25 | $-58.3M | $15.9M | ||
| Q2 25 | $115.4M | $45.2M | ||
| Q1 25 | $58.7M | $-69.2M | ||
| Q4 24 | $126.1M | $27.0M | ||
| Q3 24 | $-39.0M | $52.4M | ||
| Q2 24 | $89.6M | $49.6M | ||
| Q1 24 | $76.0M | $6.7M |
| Q4 25 | 39.9% | 4.6% | ||
| Q3 25 | -22.3% | 3.5% | ||
| Q2 25 | 46.6% | 12.4% | ||
| Q1 25 | 20.3% | -18.3% | ||
| Q4 24 | 43.1% | 8.0% | ||
| Q3 24 | -16.3% | 19.3% | ||
| Q2 24 | 39.4% | 26.6% | ||
| Q1 24 | 27.7% | 1.9% |
| Q4 25 | 2.5% | 0.1% | ||
| Q3 25 | 3.7% | 0.1% | ||
| Q2 25 | 3.5% | 0.3% | ||
| Q1 25 | 3.1% | 0.7% | ||
| Q4 24 | 3.3% | 0.2% | ||
| Q3 24 | 4.0% | 0.5% | ||
| Q2 24 | 3.9% | 0.3% | ||
| Q1 24 | 3.3% | 0.3% |
| Q4 25 | 1.50× | — | ||
| Q3 25 | -2.99× | — | ||
| Q2 25 | 2.98× | — | ||
| Q1 25 | 0.94× | — | ||
| Q4 24 | 1.66× | — | ||
| Q3 24 | -0.71× | 3.05× | ||
| Q2 24 | 2.83× | 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
LOPE
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% |
