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Side-by-side financial comparison of StepStone Group Inc. (STEP) and TIC Solutions, Inc. (TIC). Click either name above to swap in a different company.
StepStone Group Inc. is the larger business by last-quarter revenue ($586.5M vs $508.3M, roughly 1.2× TIC Solutions, Inc.). TIC Solutions, Inc. runs the higher net margin — -9.3% vs -21.0%, a 11.8% gap on every dollar of revenue. TIC Solutions, Inc. produced more free cash flow last quarter ($37.1M vs $26.7M).
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.
STEP vs TIC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $586.5M | $508.3M |
| Net Profit | $-123.5M | $-47.2M |
| Gross Margin | — | 35.2% |
| Operating Margin | -33.2% | -3.8% |
| Net Margin | -21.0% | -9.3% |
| Revenue YoY | 73.0% | — |
| Net Profit YoY | 35.7% | — |
| EPS (diluted) | $-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 | $586.5M | $508.3M | ||
| Q3 25 | $454.2M | $473.9M | ||
| Q2 25 | $364.3M | $313.9M | ||
| Q1 25 | $377.7M | $234.2M | ||
| Q4 24 | $339.0M | — | ||
| Q3 24 | $271.7M | — | ||
| Q2 24 | $186.4M | — | ||
| Q1 24 | $356.8M | — |
| Q4 25 | $-123.5M | $-47.2M | ||
| Q3 25 | $-366.1M | $-13.9M | ||
| Q2 25 | $-38.4M | $-233.0K | ||
| Q1 25 | $-18.5M | $-25.8M | ||
| Q4 24 | $-192.0M | — | ||
| Q3 24 | $17.6M | — | ||
| Q2 24 | $13.3M | — | ||
| Q1 24 | $30.8M | — |
| Q4 25 | — | 35.2% | ||
| Q3 25 | — | 32.2% | ||
| Q2 25 | — | 23.6% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -33.2% | -3.8% | ||
| Q3 25 | -148.8% | -1.4% | ||
| Q2 25 | -5.6% | 5.8% | ||
| Q1 25 | 2.6% | -4.0% | ||
| Q4 24 | -101.7% | — | ||
| Q3 24 | 21.3% | — | ||
| Q2 24 | 29.4% | — | ||
| Q1 24 | 26.5% | — |
| Q4 25 | -21.0% | -9.3% | ||
| Q3 25 | -80.6% | -2.9% | ||
| Q2 25 | -10.5% | -0.1% | ||
| Q1 25 | -4.9% | -11.0% | ||
| Q4 24 | -56.6% | — | ||
| Q3 24 | 6.5% | — | ||
| Q2 24 | 7.2% | — | ||
| Q1 24 | 8.6% | — |
| Q4 25 | $-1.55 | — | ||
| Q3 25 | $-4.66 | $-0.08 | ||
| Q2 25 | $-0.49 | — | ||
| Q1 25 | $-0.37 | — | ||
| Q4 24 | $-2.61 | — | ||
| Q3 24 | $0.26 | — | ||
| Q2 24 | $0.20 | — | ||
| Q1 24 | $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 | — | $439.5M |
| Total DebtLower is stronger | $270.2M | $1.6B |
| Stockholders' EquityBook value | $-378.8M | $2.2B |
| Total Assets | $5.2B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $439.5M | ||
| Q3 25 | — | $164.4M | ||
| Q2 25 | — | $130.1M | ||
| Q1 25 | — | $155.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $270.2M | $1.6B | ||
| Q3 25 | $269.9M | $1.6B | ||
| Q2 25 | $269.6M | $751.3M | ||
| Q1 25 | $269.3M | $752.4M | ||
| Q4 24 | $168.9M | — | ||
| Q3 24 | $172.3M | — | ||
| Q2 24 | $172.1M | — | ||
| Q1 24 | $148.8M | — |
| Q4 25 | $-378.8M | $2.2B | ||
| Q3 25 | $-233.5M | $2.0B | ||
| Q2 25 | $153.9M | $1.2B | ||
| Q1 25 | $179.4M | $1.1B | ||
| Q4 24 | $209.8M | — | ||
| Q3 24 | $397.5M | — | ||
| Q2 24 | $366.9M | — | ||
| Q1 24 | $324.5M | — |
| Q4 25 | $5.2B | $4.4B | ||
| Q3 25 | $5.3B | $4.2B | ||
| Q2 25 | $4.8B | $2.2B | ||
| Q1 25 | $4.6B | $2.2B | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $3.8B | — | ||
| Q1 24 | $3.8B | — |
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | 1.75× | 0.64× | ||
| Q1 25 | 1.50× | 0.67× | ||
| 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 | $27.2M | $49.7M |
| Free Cash FlowOCF − Capex | $26.7M | $37.1M |
| FCF MarginFCF / Revenue | 4.6% | 7.3% |
| Capex IntensityCapex / Revenue | 0.1% | 2.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.6M | $61.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | $49.7M | ||
| Q3 25 | $16.2M | $19.0M | ||
| Q2 25 | $46.3M | $-6.5M | ||
| Q1 25 | $-66.5M | $32.8M | ||
| Q4 24 | $27.6M | — | ||
| Q3 24 | $53.7M | — | ||
| Q2 24 | $50.2M | — | ||
| Q1 24 | $7.6M | — |
| Q4 25 | $26.7M | $37.1M | ||
| Q3 25 | $15.9M | $10.3M | ||
| Q2 25 | $45.2M | $-14.5M | ||
| Q1 25 | $-69.2M | $28.3M | ||
| Q4 24 | $27.0M | — | ||
| Q3 24 | $52.4M | — | ||
| Q2 24 | $49.6M | — | ||
| Q1 24 | $6.7M | — |
| Q4 25 | 4.6% | 7.3% | ||
| Q3 25 | 3.5% | 2.2% | ||
| Q2 25 | 12.4% | -4.6% | ||
| Q1 25 | -18.3% | 12.1% | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | 19.3% | — | ||
| Q2 24 | 26.6% | — | ||
| Q1 24 | 1.9% | — |
| Q4 25 | 0.1% | 2.5% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 0.3% | 2.6% | ||
| Q1 25 | 0.7% | 1.9% | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.5% | — | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.05× | — | ||
| Q2 24 | 3.76× | — | ||
| Q1 24 | 0.25× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
TIC
| Consulting Engineering Segment | $300.1M | 59% |
| Geospatial Segment | $131.3M | 26% |
| Fixed Unit Price Contracts | $54.3M | 11% |
| Other | $22.6M | 4% |
