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Side-by-side financial comparison of NEW JERSEY RESOURCES CORP (NJR) 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 $440.9M, roughly 1.3× NEW JERSEY RESOURCES CORP). NEW JERSEY RESOURCES CORP runs the higher net margin — 27.8% vs -21.0%, a 48.8% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 22.8%). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 0.9%).
New Jersey Resources is an energy services holding company based in Wall Township, New Jersey. It is a Fortune 1000 company, and a member of the Forbes Platinum 400. New Jersey Natural Gas is its principal subsidiary.
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.
NJR vs STEP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $440.9M | $586.5M |
| Net Profit | $122.5M | $-123.5M |
| Gross Margin | — | — |
| Operating Margin | 40.6% | -33.2% |
| Net Margin | 27.8% | -21.0% |
| Revenue YoY | 22.8% | 73.0% |
| Net Profit YoY | -6.7% | 35.7% |
| EPS (diluted) | $1.21 | $-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 | $440.9M | $586.5M | ||
| Q3 25 | $188.3M | $454.2M | ||
| Q2 25 | $234.8M | $364.3M | ||
| Q1 25 | $569.2M | $377.7M | ||
| Q4 24 | $359.0M | $339.0M | ||
| Q3 24 | $265.7M | $271.7M | ||
| Q2 24 | $209.9M | $186.4M | ||
| Q1 24 | $433.2M | $356.8M |
| Q4 25 | $122.5M | $-123.5M | ||
| Q3 25 | $15.1M | $-366.1M | ||
| Q2 25 | $-15.1M | $-38.4M | ||
| Q1 25 | $204.3M | $-18.5M | ||
| Q4 24 | $131.3M | $-192.0M | ||
| Q3 24 | $91.1M | $17.6M | ||
| Q2 24 | $-11.6M | $13.3M | ||
| Q1 24 | $120.8M | $30.8M |
| Q4 25 | 40.6% | -33.2% | ||
| Q3 25 | 21.5% | -148.8% | ||
| Q2 25 | -0.5% | -5.6% | ||
| Q1 25 | 49.2% | 2.6% | ||
| Q4 24 | 52.8% | -101.7% | ||
| Q3 24 | 55.0% | 21.3% | ||
| Q2 24 | 2.8% | 29.4% | ||
| Q1 24 | 39.3% | 26.5% |
| Q4 25 | 27.8% | -21.0% | ||
| Q3 25 | 8.0% | -80.6% | ||
| Q2 25 | -6.4% | -10.5% | ||
| Q1 25 | 35.9% | -4.9% | ||
| Q4 24 | 36.6% | -56.6% | ||
| Q3 24 | 34.3% | 6.5% | ||
| Q2 24 | -5.5% | 7.2% | ||
| Q1 24 | 27.9% | 8.6% |
| Q4 25 | $1.21 | $-1.55 | ||
| Q3 25 | $0.15 | $-4.66 | ||
| Q2 25 | $-0.15 | $-0.49 | ||
| Q1 25 | $2.02 | $-0.37 | ||
| Q4 24 | $1.31 | $-2.61 | ||
| Q3 24 | $0.91 | $0.26 | ||
| Q2 24 | $-0.12 | $0.20 | ||
| Q1 24 | $1.22 | $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 | $2.4M | — |
| Total DebtLower is stronger | $3.3B | $270.2M |
| Stockholders' EquityBook value | $2.5B | $-378.8M |
| Total Assets | $7.9B | $5.2B |
| Debt / EquityLower = less leverage | 1.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4M | — | ||
| Q3 25 | $591.0K | — | ||
| Q2 25 | $931.0K | — | ||
| Q1 25 | $83.7M | — | ||
| Q4 24 | $1.9M | — | ||
| Q3 24 | $1.0M | — | ||
| Q2 24 | $22.4M | — | ||
| Q1 24 | $5.0M | — |
| Q4 25 | $3.3B | $270.2M | ||
| Q3 25 | $3.3B | $269.9M | ||
| Q2 25 | $3.0B | $269.6M | ||
| Q1 25 | $3.0B | $269.3M | ||
| Q4 24 | $3.0B | $168.9M | ||
| Q3 24 | $2.9B | $172.3M | ||
| Q2 24 | $2.8B | $172.1M | ||
| Q1 24 | $2.7B | $148.8M |
| Q4 25 | $2.5B | $-378.8M | ||
| Q3 25 | $2.4B | $-233.5M | ||
| Q2 25 | $2.4B | $153.9M | ||
| Q1 25 | $2.5B | $179.4M | ||
| Q4 24 | $2.3B | $209.8M | ||
| Q3 24 | $2.2B | $397.5M | ||
| Q2 24 | $2.1B | $366.9M | ||
| Q1 24 | $2.2B | $324.5M |
| Q4 25 | $7.9B | $5.2B | ||
| Q3 25 | $7.6B | $5.3B | ||
| Q2 25 | $7.3B | $4.8B | ||
| Q1 25 | $7.3B | $4.6B | ||
| Q4 24 | $7.2B | $4.3B | ||
| Q3 24 | $7.0B | $4.0B | ||
| Q2 24 | $6.8B | $3.8B | ||
| Q1 24 | $6.6B | $3.8B |
| Q4 25 | 1.32× | — | ||
| Q3 25 | 1.36× | — | ||
| Q2 25 | 1.25× | 1.75× | ||
| Q1 25 | 1.20× | 1.50× | ||
| Q4 24 | 1.29× | 0.81× | ||
| Q3 24 | 1.31× | 0.43× | ||
| Q2 24 | 1.30× | 0.47× | ||
| Q1 24 | 1.25× | 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 | $26.7M | $27.2M |
| Free Cash FlowOCF − Capex | — | $26.7M |
| FCF MarginFCF / Revenue | — | 4.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 0.22× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $27.2M | ||
| Q3 25 | $81.2M | $16.2M | ||
| Q2 25 | $-28.9M | $46.3M | ||
| Q1 25 | $423.0M | $-66.5M | ||
| Q4 24 | $-9.0M | $27.6M | ||
| Q3 24 | $64.5M | $53.7M | ||
| Q2 24 | $24.3M | $50.2M | ||
| Q1 24 | $292.2M | $7.6M |
| Q4 25 | — | $26.7M | ||
| Q3 25 | — | $15.9M | ||
| Q2 25 | — | $45.2M | ||
| Q1 25 | — | $-69.2M | ||
| Q4 24 | — | $27.0M | ||
| Q3 24 | — | $52.4M | ||
| Q2 24 | — | $49.6M | ||
| Q1 24 | — | $6.7M |
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | — | -18.3% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | — | 19.3% | ||
| Q2 24 | — | 26.6% | ||
| Q1 24 | — | 1.9% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | 0.22× | — | ||
| Q3 25 | 5.39× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.07× | — | ||
| Q4 24 | -0.07× | — | ||
| Q3 24 | 0.71× | 3.05× | ||
| Q2 24 | — | 3.76× | ||
| Q1 24 | 2.42× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NJR
| Residential | $284.1M | 64% |
| Commercialand Industrial | $53.4M | 12% |
| Firm Transportation | $34.7M | 8% |
| Storage And Transportation ST Segment | $28.1M | 6% |
| Home Services And Other HSO | $16.0M | 4% |
| Energy Services ES Segment | $12.8M | 3% |
| Installationand Maintenance | $6.6M | 1% |
| Electricity | $5.6M | 1% |
| Renewable Energy Certificates | $3.7M | 1% |
| Interruptibleand Offtariff | $2.4M | 1% |
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% |
