vs
Side-by-side financial comparison of New Fortress Energy Inc. (NFE) 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 $326.2M, roughly 1.8× New Fortress Energy Inc.). StepStone Group Inc. runs the higher net margin — -21.0% vs -259.7%, a 238.6% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs -7.0%). StepStone Group Inc. produced more free cash flow last quarter ($26.7M vs $-134.8M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs -26.8%).
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
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.
NFE vs STEP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $326.2M | $586.5M |
| Net Profit | $-847.1M | $-123.5M |
| Gross Margin | 35.5% | — |
| Operating Margin | -193.0% | -33.2% |
| Net Margin | -259.7% | -21.0% |
| Revenue YoY | -7.0% | 73.0% |
| Net Profit YoY | -277.4% | 35.7% |
| EPS (diluted) | $-3.03 | $-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 | $326.2M | $586.5M | ||
| Q3 25 | $240.3M | $454.2M | ||
| Q2 25 | $228.1M | $364.3M | ||
| Q1 25 | $384.9M | $377.7M | ||
| Q4 24 | $350.7M | $339.0M | ||
| Q3 24 | $446.0M | $271.7M | ||
| Q2 24 | $291.2M | $186.4M | ||
| Q1 24 | $609.5M | $356.8M |
| Q4 25 | $-847.1M | $-123.5M | ||
| Q3 25 | $-263.0M | $-366.1M | ||
| Q2 25 | $-546.5M | $-38.4M | ||
| Q1 25 | $-175.4M | $-18.5M | ||
| Q4 24 | $-224.4M | $-192.0M | ||
| Q3 24 | $9.3M | $17.6M | ||
| Q2 24 | $-88.9M | $13.3M | ||
| Q1 24 | $54.1M | $30.8M |
| Q4 25 | 35.5% | — | ||
| Q3 25 | 18.1% | — | ||
| Q2 25 | 8.4% | — | ||
| Q1 25 | 21.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 27.1% | — | ||
| Q2 24 | 23.8% | — | ||
| Q1 24 | 62.4% | — |
| Q4 25 | -193.0% | -33.2% | ||
| Q3 25 | -37.4% | -148.8% | ||
| Q2 25 | -170.3% | -5.6% | ||
| Q1 25 | -3.3% | 2.6% | ||
| Q4 24 | 65.0% | -101.7% | ||
| Q3 24 | 17.8% | 21.3% | ||
| Q2 24 | 12.3% | 29.4% | ||
| Q1 24 | 30.4% | 26.5% |
| Q4 25 | -259.7% | -21.0% | ||
| Q3 25 | -109.4% | -80.6% | ||
| Q2 25 | -239.6% | -10.5% | ||
| Q1 25 | -45.6% | -4.9% | ||
| Q4 24 | -64.0% | -56.6% | ||
| Q3 24 | 2.1% | 6.5% | ||
| Q2 24 | -30.5% | 7.2% | ||
| Q1 24 | 8.9% | 8.6% |
| Q4 25 | $-3.03 | $-1.55 | ||
| Q3 25 | $-0.96 | $-4.66 | ||
| Q2 25 | $-1.99 | $-0.49 | ||
| Q1 25 | $-0.65 | $-0.37 | ||
| Q4 24 | $-1.10 | $-2.61 | ||
| Q3 24 | $0.03 | $0.26 | ||
| Q2 24 | $-0.42 | $0.20 | ||
| Q1 24 | $0.23 | $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 | $226.5M | — |
| Total DebtLower is stronger | $8.2B | $270.2M |
| Stockholders' EquityBook value | $182.6M | $-378.8M |
| Total Assets | $10.6B | $5.2B |
| Debt / EquityLower = less leverage | 44.78× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $226.5M | — | ||
| Q3 25 | $145.2M | — | ||
| Q2 25 | $551.1M | — | ||
| Q1 25 | $447.9M | — | ||
| Q4 24 | $492.9M | — | ||
| Q3 24 | $90.8M | — | ||
| Q2 24 | $133.0M | — | ||
| Q1 24 | $143.5M | — |
| Q4 25 | $8.2B | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | $8.9B | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
| Q4 25 | $182.6M | $-378.8M | ||
| Q3 25 | $1.1B | $-233.5M | ||
| Q2 25 | $1.3B | $153.9M | ||
| Q1 25 | $1.8B | $179.4M | ||
| Q4 24 | $1.9B | $209.8M | ||
| Q3 24 | $1.6B | $397.5M | ||
| Q2 24 | $1.6B | $366.9M | ||
| Q1 24 | $1.7B | $324.5M |
| Q4 25 | $10.6B | $5.2B | ||
| Q3 25 | $12.0B | $5.3B | ||
| Q2 25 | $12.0B | $4.8B | ||
| Q1 25 | $13.1B | $4.6B | ||
| Q4 24 | $12.9B | $4.3B | ||
| Q3 24 | $12.0B | $4.0B | ||
| Q2 24 | $11.4B | $3.8B | ||
| Q1 24 | $10.9B | $3.8B |
| Q4 25 | 44.78× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | 4.74× | 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 | $-76.2M | $27.2M |
| Free Cash FlowOCF − Capex | $-134.8M | $26.7M |
| FCF MarginFCF / Revenue | -41.3% | 4.6% |
| Capex IntensityCapex / Revenue | 18.0% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4B | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-76.2M | $27.2M | ||
| Q3 25 | $-171.0M | $16.2M | ||
| Q2 25 | $-329.0M | $46.3M | ||
| Q1 25 | $-7.2M | $-66.5M | ||
| Q4 24 | $445.3M | $27.6M | ||
| Q3 24 | $-20.0M | $53.7M | ||
| Q2 24 | $113.9M | $50.2M | ||
| Q1 24 | $63.0M | $7.6M |
| Q4 25 | $-134.8M | $26.7M | ||
| Q3 25 | $-231.6M | $15.9M | ||
| Q2 25 | $-726.7M | $45.2M | ||
| Q1 25 | $-262.3M | $-69.2M | ||
| Q4 24 | $-210.3M | $27.0M | ||
| Q3 24 | $-367.0M | $52.4M | ||
| Q2 24 | $-493.2M | $49.6M | ||
| Q1 24 | $-457.9M | $6.7M |
| Q4 25 | -41.3% | 4.6% | ||
| Q3 25 | -96.4% | 3.5% | ||
| Q2 25 | -318.6% | 12.4% | ||
| Q1 25 | -68.2% | -18.3% | ||
| Q4 24 | -60.0% | 8.0% | ||
| Q3 24 | -82.3% | 19.3% | ||
| Q2 24 | -169.3% | 26.6% | ||
| Q1 24 | -75.1% | 1.9% |
| Q4 25 | 18.0% | 0.1% | ||
| Q3 25 | 25.2% | 0.1% | ||
| Q2 25 | 174.4% | 0.3% | ||
| Q1 25 | 66.3% | 0.7% | ||
| Q4 24 | 187.0% | 0.2% | ||
| Q3 24 | 77.8% | 0.5% | ||
| Q2 24 | 208.4% | 0.3% | ||
| Q1 24 | 85.5% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -2.15× | 3.05× | ||
| Q2 24 | — | 3.76× | ||
| Q1 24 | 1.16× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NFE
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% |
