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Side-by-side financial comparison of LANDSTAR SYSTEM INC (LSTR) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
LANDSTAR SYSTEM INC is the larger business by last-quarter revenue ($1.2B vs $586.5M, roughly 2.0× StepStone Group Inc.). LANDSTAR SYSTEM INC runs the higher net margin — 3.4% vs -21.0%, a 24.4% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 1.6%). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs -2.2%).
Landstar System, Inc. is an American transportation services company specializing in logistics and, more specifically, third-party logistics. Landstar utilizes an extensive network of over 8,800 independent owner-operators, referred to internally as business capacity owners (BCOs), over 1,000 independent freight agents, and over 70,000 vetted carriers. Landstar provides services principally throughout the United States and to a lesser extent in Canada and between the U.S. and Canada, Mexico, ...
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.
LSTR vs STEP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $586.5M |
| Net Profit | $39.4M | $-123.5M |
| Gross Margin | 9.6% | — |
| Operating Margin | 4.5% | -33.2% |
| Net Margin | 3.4% | -21.0% |
| Revenue YoY | 1.6% | 73.0% |
| Net Profit YoY | 32.3% | 35.7% |
| EPS (diluted) | $1.16 | $-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 | $1.2B | — | ||
| Q4 25 | $1.2B | $586.5M | ||
| Q3 25 | $1.2B | $454.2M | ||
| Q2 25 | $1.2B | $364.3M | ||
| Q1 25 | $1.2B | $377.7M | ||
| Q4 24 | $1.2B | $339.0M | ||
| Q3 24 | $1.2B | $271.7M | ||
| Q2 24 | $1.2B | $186.4M |
| Q1 26 | $39.4M | — | ||
| Q4 25 | $23.9M | $-123.5M | ||
| Q3 25 | $19.4M | $-366.1M | ||
| Q2 25 | $41.9M | $-38.4M | ||
| Q1 25 | $29.8M | $-18.5M | ||
| Q4 24 | $46.2M | $-192.0M | ||
| Q3 24 | $50.0M | $17.6M | ||
| Q2 24 | $52.6M | $13.3M |
| Q1 26 | 9.6% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 4.5% | — | ||
| Q4 25 | 2.5% | -33.2% | ||
| Q3 25 | 2.2% | -148.8% | ||
| Q2 25 | 4.6% | -5.6% | ||
| Q1 25 | 3.4% | 2.6% | ||
| Q4 24 | 4.8% | -101.7% | ||
| Q3 24 | 5.2% | 21.3% | ||
| Q2 24 | 5.6% | 29.4% |
| Q1 26 | 3.4% | — | ||
| Q4 25 | 2.0% | -21.0% | ||
| Q3 25 | 1.6% | -80.6% | ||
| Q2 25 | 3.5% | -10.5% | ||
| Q1 25 | 2.6% | -4.9% | ||
| Q4 24 | 3.8% | -56.6% | ||
| Q3 24 | 4.1% | 6.5% | ||
| Q2 24 | 4.3% | 7.2% |
| Q1 26 | $1.16 | — | ||
| Q4 25 | $0.70 | $-1.55 | ||
| Q3 25 | $0.56 | $-4.66 | ||
| Q2 25 | $1.20 | $-0.49 | ||
| Q1 25 | $0.85 | $-0.37 | ||
| Q4 24 | $1.30 | $-2.61 | ||
| Q3 24 | $1.41 | $0.26 | ||
| Q2 24 | $1.48 | $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 | $411.0M | — |
| Total DebtLower is stronger | $26.1M | $270.2M |
| Stockholders' EquityBook value | $799.0M | $-378.8M |
| Total Assets | $1.6B | $5.2B |
| Debt / EquityLower = less leverage | 0.03× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $411.0M | — | ||
| Q4 25 | $452.2M | — | ||
| Q3 25 | $434.4M | — | ||
| Q2 25 | $426.2M | — | ||
| Q1 25 | $473.4M | — | ||
| Q4 24 | $566.6M | — | ||
| Q3 24 | $531.3M | — | ||
| Q2 24 | $504.0M | — |
| Q1 26 | $26.1M | — | ||
| Q4 25 | $0 | $270.2M | ||
| Q3 25 | $0 | $269.9M | ||
| Q2 25 | $0 | $269.6M | ||
| Q1 25 | $0 | $269.3M | ||
| Q4 24 | $0 | $168.9M | ||
| Q3 24 | $0 | $172.3M | ||
| Q2 24 | $0 | $172.1M |
| Q1 26 | $799.0M | — | ||
| Q4 25 | $795.7M | $-378.8M | ||
| Q3 25 | $888.7M | $-233.5M | ||
| Q2 25 | $921.8M | $153.9M | ||
| Q1 25 | $930.8M | $179.4M | ||
| Q4 24 | $972.4M | $209.8M | ||
| Q3 24 | $1.0B | $397.5M | ||
| Q2 24 | $1.0B | $366.9M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $5.2B | ||
| Q3 25 | $1.7B | $5.3B | ||
| Q2 25 | $1.7B | $4.8B | ||
| Q1 25 | $1.7B | $4.6B | ||
| Q4 24 | $1.8B | $4.3B | ||
| Q3 24 | $1.8B | $4.0B | ||
| Q2 24 | $1.8B | $3.8B |
| Q1 26 | 0.03× | — | ||
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | 1.75× | ||
| Q1 25 | 0.00× | 1.50× | ||
| Q4 24 | 0.00× | 0.81× | ||
| Q3 24 | 0.00× | 0.43× | ||
| Q2 24 | 0.00× | 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 | — | $26.7M |
| FCF MarginFCF / Revenue | — | 4.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $72.7M | $27.2M | ||
| Q3 25 | $89.3M | $16.2M | ||
| Q2 25 | $7.1M | $46.3M | ||
| Q1 25 | $55.7M | $-66.5M | ||
| Q4 24 | $61.1M | $27.6M | ||
| Q3 24 | $83.1M | $53.7M | ||
| Q2 24 | $48.1M | $50.2M |
| Q1 26 | — | — | ||
| Q4 25 | $70.5M | $26.7M | ||
| Q3 25 | $86.0M | $15.9M | ||
| Q2 25 | $4.7M | $45.2M | ||
| Q1 25 | $53.8M | $-69.2M | ||
| Q4 24 | $54.4M | $27.0M | ||
| Q3 24 | $75.6M | $52.4M | ||
| Q2 24 | $40.6M | $49.6M |
| Q1 26 | — | — | ||
| Q4 25 | 6.0% | 4.6% | ||
| Q3 25 | 7.1% | 3.5% | ||
| Q2 25 | 0.4% | 12.4% | ||
| Q1 25 | 4.7% | -18.3% | ||
| Q4 24 | 4.5% | 8.0% | ||
| Q3 24 | 6.2% | 19.3% | ||
| Q2 24 | 3.3% | 26.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 0.1% | ||
| Q3 25 | 0.3% | 0.1% | ||
| Q2 25 | 0.2% | 0.3% | ||
| Q1 25 | 0.2% | 0.7% | ||
| Q4 24 | 0.6% | 0.2% | ||
| Q3 24 | 0.6% | 0.5% | ||
| Q2 24 | 0.6% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 3.04× | — | ||
| Q3 25 | 4.61× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 1.87× | — | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.66× | 3.05× | ||
| Q2 24 | 0.91× | 3.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LSTR
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% |
