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Side-by-side financial comparison of StepStone Group Inc. (STEP) and TRINITY INDUSTRIES INC (TRN). Click either name above to swap in a different company.
TRINITY INDUSTRIES INC is the larger business by last-quarter revenue ($611.2M vs $586.5M, roughly 1.0× StepStone Group Inc.). TRINITY INDUSTRIES INC runs the higher net margin — 31.8% vs -21.0%, a 52.8% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs -2.9%). TRINITY INDUSTRIES INC produced more free cash flow last quarter ($158.6M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs -13.1%).
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.
Trinity Industries Inc. is an American industrial corporation that owns a variety of businesses which provide products and services to the industrial, energy, transportation and construction sectors.
STEP vs TRN — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $586.5M | $611.2M |
| Net Profit | $-123.5M | $194.2M |
| Gross Margin | — | 25.5% |
| Operating Margin | -33.2% | 54.9% |
| Net Margin | -21.0% | 31.8% |
| Revenue YoY | 73.0% | -2.9% |
| Net Profit YoY | 35.7% | 413.8% |
| EPS (diluted) | $-1.55 | $2.25 |
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 | $611.2M | ||
| Q3 25 | $454.2M | $454.1M | ||
| Q2 25 | $364.3M | $506.2M | ||
| Q1 25 | $377.7M | $585.4M | ||
| Q4 24 | $339.0M | $629.4M | ||
| Q3 24 | $271.7M | $798.8M | ||
| Q2 24 | $186.4M | $841.4M | ||
| Q1 24 | $356.8M | $809.6M |
| Q4 25 | $-123.5M | $194.2M | ||
| Q3 25 | $-366.1M | $30.3M | ||
| Q2 25 | $-38.4M | $14.1M | ||
| Q1 25 | $-18.5M | $22.1M | ||
| Q4 24 | $-192.0M | $37.8M | ||
| Q3 24 | $17.6M | $31.4M | ||
| Q2 24 | $13.3M | $54.4M | ||
| Q1 24 | $30.8M | $23.7M |
| Q4 25 | — | 25.5% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 26.4% | ||
| Q1 25 | — | 24.3% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 20.3% |
| Q4 25 | -33.2% | 54.9% | ||
| Q3 25 | -148.8% | 26.1% | ||
| Q2 25 | -5.6% | 18.8% | ||
| Q1 25 | 2.6% | 17.0% | ||
| Q4 24 | -101.7% | 17.8% | ||
| Q3 24 | 21.3% | 15.3% | ||
| Q2 24 | 29.4% | 16.9% | ||
| Q1 24 | 26.5% | 14.2% |
| Q4 25 | -21.0% | 31.8% | ||
| Q3 25 | -80.6% | 6.7% | ||
| Q2 25 | -10.5% | 2.8% | ||
| Q1 25 | -4.9% | 3.8% | ||
| Q4 24 | -56.6% | 6.0% | ||
| Q3 24 | 6.5% | 3.9% | ||
| Q2 24 | 7.2% | 6.5% | ||
| Q1 24 | 8.6% | 2.9% |
| Q4 25 | $-1.55 | $2.25 | ||
| Q3 25 | $-4.66 | $0.37 | ||
| Q2 25 | $-0.49 | $0.17 | ||
| Q1 25 | $-0.37 | $0.26 | ||
| Q4 24 | $-2.61 | $0.34 | ||
| Q3 24 | $0.26 | $0.37 | ||
| Q2 24 | $0.20 | $0.65 | ||
| Q1 24 | $0.47 | $0.28 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $201.3M |
| Total DebtLower is stronger | $270.2M | — |
| Stockholders' EquityBook value | $-378.8M | $1.1B |
| Total Assets | $5.2B | $8.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $201.3M | ||
| Q3 25 | — | $66.3M | ||
| Q2 25 | — | $147.7M | ||
| Q1 25 | — | $94.9M | ||
| Q4 24 | — | $228.2M | ||
| Q3 24 | — | $222.4M | ||
| Q2 24 | — | $257.1M | ||
| Q1 24 | — | $118.8M |
| Q4 25 | $270.2M | — | ||
| Q3 25 | $269.9M | — | ||
| Q2 25 | $269.6M | — | ||
| Q1 25 | $269.3M | — | ||
| Q4 24 | $168.9M | — | ||
| Q3 24 | $172.3M | — | ||
| Q2 24 | $172.1M | — | ||
| Q1 24 | $148.8M | — |
| Q4 25 | $-378.8M | $1.1B | ||
| Q3 25 | $-233.5M | $1.0B | ||
| Q2 25 | $153.9M | $1.0B | ||
| Q1 25 | $179.4M | $1.1B | ||
| Q4 24 | $209.8M | $1.1B | ||
| Q3 24 | $397.5M | $1.1B | ||
| Q2 24 | $366.9M | $1.1B | ||
| Q1 24 | $324.5M | $1.0B |
| Q4 25 | $5.2B | $8.4B | ||
| Q3 25 | $5.3B | $8.9B | ||
| Q2 25 | $4.8B | $8.8B | ||
| Q1 25 | $4.6B | $8.7B | ||
| Q4 24 | $4.3B | $8.8B | ||
| Q3 24 | $4.0B | $8.8B | ||
| Q2 24 | $3.8B | $9.0B | ||
| Q1 24 | $3.8B | $9.1B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 1.50× | — | ||
| 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 | $177.4M |
| Free Cash FlowOCF − Capex | $26.7M | $158.6M |
| FCF MarginFCF / Revenue | 4.6% | 25.9% |
| Capex IntensityCapex / Revenue | 0.1% | 3.1% |
| Cash ConversionOCF / Net Profit | — | 0.91× |
| TTM Free Cash FlowTrailing 4 quarters | $18.6M | $314.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | $177.4M | ||
| Q3 25 | $16.2M | $44.2M | ||
| Q2 25 | $46.3M | $61.6M | ||
| Q1 25 | $-66.5M | $76.5M | ||
| Q4 24 | $27.6M | $201.6M | ||
| Q3 24 | $53.7M | $78.5M | ||
| Q2 24 | $50.2M | $241.5M | ||
| Q1 24 | $7.6M | $52.2M |
| Q4 25 | $26.7M | $158.6M | ||
| Q3 25 | $15.9M | $35.3M | ||
| Q2 25 | $45.2M | $52.9M | ||
| Q1 25 | $-69.2M | $67.3M | ||
| Q4 24 | $27.0M | $180.1M | ||
| Q3 24 | $52.4M | $62.1M | ||
| Q2 24 | $49.6M | $230.2M | ||
| Q1 24 | $6.7M | $47.6M |
| Q4 25 | 4.6% | 25.9% | ||
| Q3 25 | 3.5% | 7.8% | ||
| Q2 25 | 12.4% | 10.5% | ||
| Q1 25 | -18.3% | 11.5% | ||
| Q4 24 | 8.0% | 28.6% | ||
| Q3 24 | 19.3% | 7.8% | ||
| Q2 24 | 26.6% | 27.4% | ||
| Q1 24 | 1.9% | 5.9% |
| Q4 25 | 0.1% | 3.1% | ||
| Q3 25 | 0.1% | 2.0% | ||
| Q2 25 | 0.3% | 1.7% | ||
| Q1 25 | 0.7% | 1.6% | ||
| Q4 24 | 0.2% | 3.4% | ||
| Q3 24 | 0.5% | 2.1% | ||
| Q2 24 | 0.3% | 1.3% | ||
| Q1 24 | 0.3% | 0.6% |
| Q4 25 | — | 0.91× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | — | 4.37× | ||
| Q1 25 | — | 3.46× | ||
| Q4 24 | — | 5.33× | ||
| Q3 24 | 3.05× | 2.50× | ||
| Q2 24 | 3.76× | 4.44× | ||
| Q1 24 | 0.25× | 2.20× |
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% |
TRN
| Manufacturing | $296.5M | 49% |
| Leasing And Management | $234.8M | 38% |
| Maintenance Services Domain | $69.8M | 11% |
| Digital Logistics Services | $11.2M | 2% |
