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Side-by-side financial comparison of StepStone Group Inc. (STEP) and VALMONT INDUSTRIES INC (VMI). Click either name above to swap in a different company.
VALMONT INDUSTRIES INC is the larger business by last-quarter revenue ($1.0B vs $586.5M, roughly 1.8× StepStone Group Inc.). VALMONT INDUSTRIES INC runs the higher net margin — 10.5% vs -21.0%, a 31.5% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 6.2%). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs -0.5%).
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.
Valmont Industries, Inc. is a large, publicly held American manufacturer of Valley center pivot and linear irrigation equipment, windmill support structures, lighting and traffic poles and steel utility poles.
STEP vs VMI — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $586.5M | $1.0B |
| Net Profit | $-123.5M | $108.0M |
| Gross Margin | — | 30.8% |
| Operating Margin | -33.2% | 15.1% |
| Net Margin | -21.0% | 10.5% |
| Revenue YoY | 73.0% | 6.2% |
| Net Profit YoY | 35.7% | 23.8% |
| EPS (diluted) | $-1.55 | $5.51 |
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.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $586.5M | $1.0B | ||
| Q3 25 | $454.2M | $1.0B | ||
| Q2 25 | $364.3M | $1.1B | ||
| Q1 25 | $377.7M | $969.3M | ||
| Q4 24 | $339.0M | $1.0B | ||
| Q3 24 | $271.7M | $1.0B | ||
| Q2 24 | $186.4M | $1.0B |
| Q1 26 | — | $108.0M | ||
| Q4 25 | $-123.5M | $168.0M | ||
| Q3 25 | $-366.1M | $99.0M | ||
| Q2 25 | $-38.4M | $-4.0M | ||
| Q1 25 | $-18.5M | $87.3M | ||
| Q4 24 | $-192.0M | $77.7M | ||
| Q3 24 | $17.6M | $83.1M | ||
| Q2 24 | $13.3M | $99.7M |
| Q1 26 | — | 30.8% | ||
| Q4 25 | — | 29.8% | ||
| Q3 25 | — | 30.4% | ||
| Q2 25 | — | 30.6% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 30.2% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 30.8% |
| Q1 26 | — | 15.1% | ||
| Q4 25 | -33.2% | 11.2% | ||
| Q3 25 | -148.8% | 13.5% | ||
| Q2 25 | -5.6% | 2.8% | ||
| Q1 25 | 2.6% | 13.2% | ||
| Q4 24 | -101.7% | 11.6% | ||
| Q3 24 | 21.3% | 12.3% | ||
| Q2 24 | 29.4% | 14.2% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | -21.0% | 16.2% | ||
| Q3 25 | -80.6% | 9.5% | ||
| Q2 25 | -10.5% | -0.4% | ||
| Q1 25 | -4.9% | 9.0% | ||
| Q4 24 | -56.6% | 7.5% | ||
| Q3 24 | 6.5% | 8.1% | ||
| Q2 24 | 7.2% | 9.6% |
| Q1 26 | — | $5.51 | ||
| Q4 25 | $-1.55 | $9.02 | ||
| Q3 25 | $-4.66 | $4.98 | ||
| Q2 25 | $-0.49 | $-1.53 | ||
| Q1 25 | $-0.37 | $4.32 | ||
| Q4 24 | $-2.61 | $3.85 | ||
| Q3 24 | $0.26 | $4.11 | ||
| Q2 24 | $0.20 | $4.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $160.2M |
| Total DebtLower is stronger | $270.2M | — |
| Stockholders' EquityBook value | $-378.8M | $1.7B |
| Total Assets | $5.2B | $3.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $160.2M | ||
| Q4 25 | — | $187.1M | ||
| Q3 25 | — | $226.1M | ||
| Q2 25 | — | $208.5M | ||
| Q1 25 | — | $184.4M | ||
| Q4 24 | — | $164.3M | ||
| Q3 24 | — | $200.5M | ||
| Q2 24 | — | $163.1M |
| Q1 26 | — | — | ||
| Q4 25 | $270.2M | $795.7M | ||
| Q3 25 | $269.9M | — | ||
| Q2 25 | $269.6M | — | ||
| Q1 25 | $269.3M | — | ||
| Q4 24 | $168.9M | $730.6M | ||
| Q3 24 | $172.3M | — | ||
| Q2 24 | $172.1M | — |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $-378.8M | $1.6B | ||
| Q3 25 | $-233.5M | $1.6B | ||
| Q2 25 | $153.9M | $1.5B | ||
| Q1 25 | $179.4M | $1.6B | ||
| Q4 24 | $209.8M | $1.5B | ||
| Q3 24 | $397.5M | $1.5B | ||
| Q2 24 | $366.9M | $1.5B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $5.2B | $3.4B | ||
| Q3 25 | $5.3B | $3.4B | ||
| Q2 25 | $4.8B | $3.3B | ||
| Q1 25 | $4.6B | $3.4B | ||
| Q4 24 | $4.3B | $3.3B | ||
| Q3 24 | $4.0B | $3.5B | ||
| Q2 24 | $3.8B | $3.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 1.50× | — | ||
| Q4 24 | 0.81× | 0.47× | ||
| Q3 24 | 0.43× | — | ||
| Q2 24 | 0.47× | — |
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 | — |
| Free Cash FlowOCF − Capex | $26.7M | — |
| FCF MarginFCF / Revenue | 4.6% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $18.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $27.2M | $111.2M | ||
| Q3 25 | $16.2M | $112.5M | ||
| Q2 25 | $46.3M | $167.6M | ||
| Q1 25 | $-66.5M | $65.1M | ||
| Q4 24 | $27.6M | $193.4M | ||
| Q3 24 | $53.7M | $225.1M | ||
| Q2 24 | $50.2M | $130.8M |
| Q1 26 | — | — | ||
| Q4 25 | $26.7M | $70.4M | ||
| Q3 25 | $15.9M | $70.6M | ||
| Q2 25 | $45.2M | $135.6M | ||
| Q1 25 | $-69.2M | $34.8M | ||
| Q4 24 | $27.0M | $167.8M | ||
| Q3 24 | $52.4M | $204.6M | ||
| Q2 24 | $49.6M | $112.5M |
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 6.8% | ||
| Q3 25 | 3.5% | 6.7% | ||
| Q2 25 | 12.4% | 12.9% | ||
| Q1 25 | -18.3% | 3.6% | ||
| Q4 24 | 8.0% | 16.2% | ||
| Q3 24 | 19.3% | 20.1% | ||
| Q2 24 | 26.6% | 10.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 3.9% | ||
| Q3 25 | 0.1% | 4.0% | ||
| Q2 25 | 0.3% | 3.0% | ||
| Q1 25 | 0.7% | 3.1% | ||
| Q4 24 | 0.2% | 2.5% | ||
| Q3 24 | 0.5% | 2.0% | ||
| Q2 24 | 0.3% | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 1.14× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 2.49× | ||
| Q3 24 | 3.05× | 2.71× | ||
| Q2 24 | 3.76× | 1.31× |
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% |
VMI
| Infrastructure | $803.2M | 78% |
| Agriculture | $226.0M | 22% |
