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Side-by-side financial comparison of NCR Atleos Corp (NATL) and StepStone Group Inc. (STEP). Click either name above to swap in a different company.
NCR Atleos Corp is the larger business by last-quarter revenue ($1.2B vs $586.5M, roughly 2.0× StepStone Group Inc.). NCR Atleos Corp runs the higher net margin — 7.2% vs -21.0%, a 28.3% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 4.0%). NCR Atleos Corp produced more free cash flow last quarter ($194.0M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 4.9%).
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
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.
NATL vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $586.5M |
| Net Profit | $83.0M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | 13.5% | -33.2% |
| Net Margin | 7.2% | -21.0% |
| Revenue YoY | 4.0% | 73.0% |
| Net Profit YoY | 102.4% | 35.7% |
| EPS (diluted) | $1.09 | $-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 | $1.2B | $586.5M | ||
| Q3 25 | $1.1B | $454.2M | ||
| Q2 25 | $1.1B | $364.3M | ||
| Q1 25 | $979.0M | $377.7M | ||
| Q4 24 | $1.1B | $339.0M | ||
| Q3 24 | $1.1B | $271.7M | ||
| Q2 24 | $1.1B | $186.4M | ||
| Q1 24 | $1.0B | $356.8M |
| Q4 25 | $83.0M | $-123.5M | ||
| Q3 25 | $26.0M | $-366.1M | ||
| Q2 25 | $39.0M | $-38.4M | ||
| Q1 25 | $14.0M | $-18.5M | ||
| Q4 24 | $41.0M | $-192.0M | ||
| Q3 24 | $21.0M | $17.6M | ||
| Q2 24 | $27.0M | $13.3M | ||
| Q1 24 | $-9.0M | $30.8M |
| Q4 25 | 13.5% | -33.2% | ||
| Q3 25 | 9.8% | -148.8% | ||
| Q2 25 | 10.8% | -5.6% | ||
| Q1 25 | 9.5% | 2.6% | ||
| Q4 24 | 13.4% | -101.7% | ||
| Q3 24 | 10.6% | 21.3% | ||
| Q2 24 | 9.8% | 29.4% | ||
| Q1 24 | 6.5% | 26.5% |
| Q4 25 | 7.2% | -21.0% | ||
| Q3 25 | 2.3% | -80.6% | ||
| Q2 25 | 3.5% | -10.5% | ||
| Q1 25 | 1.4% | -4.9% | ||
| Q4 24 | 3.7% | -56.6% | ||
| Q3 24 | 2.0% | 6.5% | ||
| Q2 24 | 2.5% | 7.2% | ||
| Q1 24 | -0.9% | 8.6% |
| Q4 25 | $1.09 | $-1.55 | ||
| Q3 25 | $0.34 | $-4.66 | ||
| Q2 25 | $0.52 | $-0.49 | ||
| Q1 25 | $0.19 | $-0.37 | ||
| Q4 24 | $0.56 | $-2.61 | ||
| Q3 24 | $0.28 | $0.26 | ||
| Q2 24 | $0.37 | $0.20 | ||
| Q1 24 | $-0.13 | $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 | $456.0M | — |
| Total DebtLower is stronger | $2.7B | $270.2M |
| Stockholders' EquityBook value | $403.0M | $-378.8M |
| Total Assets | $5.7B | $5.2B |
| Debt / EquityLower = less leverage | 6.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $456.0M | — | ||
| Q3 25 | $412.0M | — | ||
| Q2 25 | $357.0M | — | ||
| Q1 25 | $352.0M | — | ||
| Q4 24 | $419.0M | — | ||
| Q3 24 | $395.0M | — | ||
| Q2 24 | $374.0M | — | ||
| Q1 24 | $343.0M | — |
| Q4 25 | $2.7B | $270.2M | ||
| Q3 25 | $2.8B | $269.9M | ||
| Q2 25 | $2.8B | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | $2.9B | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
| Q4 25 | $403.0M | $-378.8M | ||
| Q3 25 | $330.0M | $-233.5M | ||
| Q2 25 | $350.0M | $153.9M | ||
| Q1 25 | $275.0M | $179.4M | ||
| Q4 24 | $219.0M | $209.8M | ||
| Q3 24 | $264.0M | $397.5M | ||
| Q2 24 | $250.0M | $366.9M | ||
| Q1 24 | $283.0M | $324.5M |
| Q4 25 | $5.7B | $5.2B | ||
| Q3 25 | $5.7B | $5.3B | ||
| Q2 25 | $5.8B | $4.8B | ||
| Q1 25 | $5.7B | $4.6B | ||
| Q4 24 | $5.5B | $4.3B | ||
| Q3 24 | $5.7B | $4.0B | ||
| Q2 24 | $5.8B | $3.8B | ||
| Q1 24 | $5.8B | $3.8B |
| Q4 25 | 6.63× | — | ||
| Q3 25 | 8.45× | — | ||
| Q2 25 | 8.05× | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 13.05× | 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 | $231.0M | $27.2M |
| Free Cash FlowOCF − Capex | $194.0M | $26.7M |
| FCF MarginFCF / Revenue | 16.8% | 4.6% |
| Capex IntensityCapex / Revenue | 3.2% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.78× | — |
| TTM Free Cash FlowTrailing 4 quarters | $239.0M | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $231.0M | $27.2M | ||
| Q3 25 | $25.0M | $16.2M | ||
| Q2 25 | $-23.0M | $46.3M | ||
| Q1 25 | $123.0M | $-66.5M | ||
| Q4 24 | $80.0M | $27.6M | ||
| Q3 24 | $107.0M | $53.7M | ||
| Q2 24 | $9.0M | $50.2M | ||
| Q1 24 | $148.0M | $7.6M |
| Q4 25 | $194.0M | $26.7M | ||
| Q3 25 | $-5.0M | $15.9M | ||
| Q2 25 | $-44.0M | $45.2M | ||
| Q1 25 | $94.0M | $-69.2M | ||
| Q4 24 | $62.0M | $27.0M | ||
| Q3 24 | $85.0M | $52.4M | ||
| Q2 24 | $-14.0M | $49.6M | ||
| Q1 24 | $124.0M | $6.7M |
| Q4 25 | 16.8% | 4.6% | ||
| Q3 25 | -0.4% | 3.5% | ||
| Q2 25 | -4.0% | 12.4% | ||
| Q1 25 | 9.6% | -18.3% | ||
| Q4 24 | 5.6% | 8.0% | ||
| Q3 24 | 7.9% | 19.3% | ||
| Q2 24 | -1.3% | 26.6% | ||
| Q1 24 | 11.9% | 1.9% |
| Q4 25 | 3.2% | 0.1% | ||
| Q3 25 | 2.7% | 0.1% | ||
| Q2 25 | 1.9% | 0.3% | ||
| Q1 25 | 3.0% | 0.7% | ||
| Q4 24 | 1.6% | 0.2% | ||
| Q3 24 | 2.1% | 0.5% | ||
| Q2 24 | 2.1% | 0.3% | ||
| Q1 24 | 2.3% | 0.3% |
| Q4 25 | 2.78× | — | ||
| Q3 25 | 0.96× | — | ||
| Q2 25 | -0.59× | — | ||
| Q1 25 | 8.79× | — | ||
| Q4 24 | 1.95× | — | ||
| Q3 24 | 5.10× | 3.05× | ||
| Q2 24 | 0.33× | 3.76× | ||
| Q1 24 | — | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
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% |
