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Side-by-side financial comparison of StepStone Group Inc. (STEP) and TripAdvisor, Inc. (TRIP). Click either name above to swap in a different company.
StepStone Group Inc. is the larger business by last-quarter revenue ($586.5M vs $411.0M, roughly 1.4× TripAdvisor, Inc.). TripAdvisor, Inc. runs the higher net margin — -9.2% vs -21.0%, a 11.8% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 0.0%). StepStone Group Inc. produced more free cash flow last quarter ($26.7M vs $-122.0M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 2.0%).
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.
Tripadvisor is an American company that operates online travel agencies, comparison shopping websites, and mobile apps with user-generated content.
STEP vs TRIP — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $586.5M | $411.0M |
| Net Profit | $-123.5M | $-38.0M |
| Gross Margin | — | 91.5% |
| Operating Margin | -33.2% | -8.3% |
| Net Margin | -21.0% | -9.2% |
| Revenue YoY | 73.0% | 0.0% |
| Net Profit YoY | 35.7% | -3900.0% |
| EPS (diluted) | $-1.55 | $-0.32 |
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 | $411.0M | ||
| Q3 25 | $454.2M | $553.0M | ||
| Q2 25 | $364.3M | $529.0M | ||
| Q1 25 | $377.7M | $398.0M | ||
| Q4 24 | $339.0M | $411.0M | ||
| Q3 24 | $271.7M | $532.0M | ||
| Q2 24 | $186.4M | $497.0M | ||
| Q1 24 | $356.8M | $395.0M |
| Q4 25 | $-123.5M | $-38.0M | ||
| Q3 25 | $-366.1M | $53.0M | ||
| Q2 25 | $-38.4M | $36.0M | ||
| Q1 25 | $-18.5M | $-11.0M | ||
| Q4 24 | $-192.0M | $1.0M | ||
| Q3 24 | $17.6M | $39.0M | ||
| Q2 24 | $13.3M | $24.0M | ||
| Q1 24 | $30.8M | $-59.0M |
| Q4 25 | — | 91.5% | ||
| Q3 25 | — | 92.6% | ||
| Q2 25 | — | 92.1% | ||
| Q1 25 | — | 93.2% | ||
| Q4 24 | — | 93.4% | ||
| Q3 24 | — | 92.5% | ||
| Q2 24 | — | 92.8% | ||
| Q1 24 | — | 93.7% |
| Q4 25 | -33.2% | -8.3% | ||
| Q3 25 | -148.8% | 12.7% | ||
| Q2 25 | -5.6% | 11.2% | ||
| Q1 25 | 2.6% | -3.8% | ||
| Q4 24 | -101.7% | 0.2% | ||
| Q3 24 | 21.3% | 13.2% | ||
| Q2 24 | 29.4% | 7.2% | ||
| Q1 24 | 26.5% | -3.8% |
| Q4 25 | -21.0% | -9.2% | ||
| Q3 25 | -80.6% | 9.6% | ||
| Q2 25 | -10.5% | 6.8% | ||
| Q1 25 | -4.9% | -2.8% | ||
| Q4 24 | -56.6% | 0.2% | ||
| Q3 24 | 6.5% | 7.3% | ||
| Q2 24 | 7.2% | 4.8% | ||
| Q1 24 | 8.6% | -14.9% |
| Q4 25 | $-1.55 | $-0.32 | ||
| Q3 25 | $-4.66 | $0.43 | ||
| Q2 25 | $-0.49 | $0.28 | ||
| Q1 25 | $-0.37 | $-0.08 | ||
| Q4 24 | $-2.61 | $0.03 | ||
| Q3 24 | $0.26 | $0.27 | ||
| Q2 24 | $0.20 | $0.17 | ||
| Q1 24 | $0.47 | $-0.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.0B |
| Total DebtLower is stronger | $270.2M | $819.0M |
| Stockholders' EquityBook value | $-378.8M | $645.0M |
| Total Assets | $5.2B | $2.6B |
| Debt / EquityLower = less leverage | — | 1.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $270.2M | $819.0M | ||
| Q3 25 | $269.9M | $821.0M | ||
| Q2 25 | $269.6M | $822.0M | ||
| Q1 25 | $269.3M | $1.2B | ||
| Q4 24 | $168.9M | $831.0M | ||
| Q3 24 | $172.3M | $832.0M | ||
| Q2 24 | $172.1M | — | ||
| Q1 24 | $148.8M | — |
| Q4 25 | $-378.8M | $645.0M | ||
| Q3 25 | $-233.5M | $707.0M | ||
| Q2 25 | $153.9M | $627.0M | ||
| Q1 25 | $179.4M | $643.0M | ||
| Q4 24 | $209.8M | $943.0M | ||
| Q3 24 | $397.5M | $944.0M | ||
| Q2 24 | $366.9M | $857.0M | ||
| Q1 24 | $324.5M | $825.0M |
| Q4 25 | $5.2B | $2.6B | ||
| Q3 25 | $5.3B | $2.8B | ||
| Q2 25 | $4.8B | $2.9B | ||
| Q1 25 | $4.6B | $2.8B | ||
| Q4 24 | $4.3B | $2.6B | ||
| Q3 24 | $4.0B | $2.7B | ||
| Q2 24 | $3.8B | $2.8B | ||
| Q1 24 | $3.8B | $2.7B |
| Q4 25 | — | 1.27× | ||
| Q3 25 | — | 1.16× | ||
| Q2 25 | 1.75× | 1.31× | ||
| Q1 25 | 1.50× | 1.81× | ||
| Q4 24 | 0.81× | 0.88× | ||
| Q3 24 | 0.43× | 0.88× | ||
| 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 | $-103.0M |
| Free Cash FlowOCF − Capex | $26.7M | $-122.0M |
| FCF MarginFCF / Revenue | 4.6% | -29.7% |
| Capex IntensityCapex / Revenue | 0.1% | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.6M | $163.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | $-103.0M | ||
| Q3 25 | $16.2M | $44.0M | ||
| Q2 25 | $46.3M | $202.0M | ||
| Q1 25 | $-66.5M | $102.0M | ||
| Q4 24 | $27.6M | $-3.0M | ||
| Q3 24 | $53.7M | $-43.0M | ||
| Q2 24 | $50.2M | $51.0M | ||
| Q1 24 | $7.6M | $139.0M |
| Q4 25 | $26.7M | $-122.0M | ||
| Q3 25 | $15.9M | $25.0M | ||
| Q2 25 | $45.2M | $177.0M | ||
| Q1 25 | $-69.2M | $83.0M | ||
| Q4 24 | $27.0M | $-26.0M | ||
| Q3 24 | $52.4M | $-63.0M | ||
| Q2 24 | $49.6M | $36.0M | ||
| Q1 24 | $6.7M | $123.0M |
| Q4 25 | 4.6% | -29.7% | ||
| Q3 25 | 3.5% | 4.5% | ||
| Q2 25 | 12.4% | 33.5% | ||
| Q1 25 | -18.3% | 20.9% | ||
| Q4 24 | 8.0% | -6.3% | ||
| Q3 24 | 19.3% | -11.8% | ||
| Q2 24 | 26.6% | 7.2% | ||
| Q1 24 | 1.9% | 31.1% |
| Q4 25 | 0.1% | 4.6% | ||
| Q3 25 | 0.1% | 3.4% | ||
| Q2 25 | 0.3% | 4.7% | ||
| Q1 25 | 0.7% | 4.8% | ||
| Q4 24 | 0.2% | 5.6% | ||
| Q3 24 | 0.5% | 3.8% | ||
| Q2 24 | 0.3% | 3.0% | ||
| Q1 24 | 0.3% | 4.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 5.61× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -3.00× | ||
| Q3 24 | 3.05× | -1.10× | ||
| Q2 24 | 3.76× | 2.13× | ||
| 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% |
TRIP
| Third Party | $327.0M | 80% |
| The Fork | $58.0M | 14% |
| Other | $26.0M | 6% |
