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Side-by-side financial comparison of StepStone Group Inc. (STEP) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
StepStone Group Inc. is the larger business by last-quarter revenue ($586.5M vs $377.3M, roughly 1.6× Bristow Group Inc.). Bristow Group Inc. runs the higher net margin — 4.9% vs -21.0%, a 25.9% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 6.7%). Bristow Group Inc. produced more free cash flow last quarter ($47.8M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 5.8%).
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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
STEP vs VTOL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $586.5M | $377.3M |
| Net Profit | $-123.5M | $18.4M |
| Gross Margin | — | — |
| Operating Margin | -33.2% | 8.5% |
| Net Margin | -21.0% | 4.9% |
| Revenue YoY | 73.0% | 6.7% |
| Net Profit YoY | 35.7% | -42.1% |
| EPS (diluted) | $-1.55 | $0.61 |
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 | $377.3M | ||
| Q3 25 | $454.2M | $386.3M | ||
| Q2 25 | $364.3M | $376.4M | ||
| Q1 25 | $377.7M | $350.5M | ||
| Q4 24 | $339.0M | $353.5M | ||
| Q3 24 | $271.7M | $365.1M | ||
| Q2 24 | $186.4M | $359.7M | ||
| Q1 24 | $356.8M | $337.1M |
| Q4 25 | $-123.5M | $18.4M | ||
| Q3 25 | $-366.1M | $51.5M | ||
| Q2 25 | $-38.4M | $31.7M | ||
| Q1 25 | $-18.5M | $27.4M | ||
| Q4 24 | $-192.0M | $31.8M | ||
| Q3 24 | $17.6M | $28.2M | ||
| Q2 24 | $13.3M | $28.2M | ||
| Q1 24 | $30.8M | $6.6M |
| Q4 25 | -33.2% | 8.5% | ||
| Q3 25 | -148.8% | 13.1% | ||
| Q2 25 | -5.6% | 11.3% | ||
| Q1 25 | 2.6% | 9.6% | ||
| Q4 24 | -101.7% | 9.0% | ||
| Q3 24 | 21.3% | 9.1% | ||
| Q2 24 | 29.4% | 12.4% | ||
| Q1 24 | 26.5% | 6.8% |
| Q4 25 | -21.0% | 4.9% | ||
| Q3 25 | -80.6% | 13.3% | ||
| Q2 25 | -10.5% | 8.4% | ||
| Q1 25 | -4.9% | 7.8% | ||
| Q4 24 | -56.6% | 9.0% | ||
| Q3 24 | 6.5% | 7.7% | ||
| Q2 24 | 7.2% | 7.8% | ||
| Q1 24 | 8.6% | 2.0% |
| Q4 25 | $-1.55 | $0.61 | ||
| Q3 25 | $-4.66 | $1.72 | ||
| Q2 25 | $-0.49 | $1.07 | ||
| Q1 25 | $-0.37 | $0.92 | ||
| Q4 24 | $-2.61 | $1.07 | ||
| Q3 24 | $0.26 | $0.95 | ||
| Q2 24 | $0.20 | $0.96 | ||
| Q1 24 | $0.47 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $286.2M |
| Total DebtLower is stronger | $270.2M | $671.5M |
| Stockholders' EquityBook value | $-378.8M | $1.1B |
| Total Assets | $5.2B | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $286.2M | ||
| Q3 25 | — | $245.5M | ||
| Q2 25 | — | $251.8M | ||
| Q1 25 | — | $191.1M | ||
| Q4 24 | — | $247.5M | ||
| Q3 24 | — | $200.3M | ||
| Q2 24 | — | $178.6M | ||
| Q1 24 | — | $140.6M |
| Q4 25 | $270.2M | $671.5M | ||
| Q3 25 | $269.9M | $675.0M | ||
| Q2 25 | $269.6M | $705.2M | ||
| Q1 25 | $269.3M | $701.9M | ||
| Q4 24 | $168.9M | $689.8M | ||
| Q3 24 | $172.3M | $629.1M | ||
| Q2 24 | $172.1M | $594.2M | ||
| Q1 24 | $148.8M | $544.1M |
| Q4 25 | $-378.8M | $1.1B | ||
| Q3 25 | $-233.5M | $1.0B | ||
| Q2 25 | $153.9M | $984.4M | ||
| Q1 25 | $179.4M | $931.7M | ||
| Q4 24 | $209.8M | $891.7M | ||
| Q3 24 | $397.5M | $899.2M | ||
| Q2 24 | $366.9M | $849.1M | ||
| Q1 24 | $324.5M | $820.7M |
| Q4 25 | $5.2B | $2.3B | ||
| Q3 25 | $5.3B | $2.3B | ||
| Q2 25 | $4.8B | $2.3B | ||
| Q1 25 | $4.6B | $2.2B | ||
| Q4 24 | $4.3B | $2.1B | ||
| Q3 24 | $4.0B | $2.1B | ||
| Q2 24 | $3.8B | $2.0B | ||
| Q1 24 | $3.8B | $1.9B |
| Q4 25 | — | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | 1.75× | 0.72× | ||
| Q1 25 | 1.50× | 0.75× | ||
| Q4 24 | 0.81× | 0.77× | ||
| Q3 24 | 0.43× | 0.70× | ||
| Q2 24 | 0.47× | 0.70× | ||
| Q1 24 | 0.46× | 0.66× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $26.7M | $47.8M |
| FCF MarginFCF / Revenue | 4.6% | 12.7% |
| Capex IntensityCapex / Revenue | 0.1% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $18.6M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | $76.9M | ||
| Q3 25 | $16.2M | $23.1M | ||
| Q2 25 | $46.3M | $99.0M | ||
| Q1 25 | $-66.5M | $-603.0K | ||
| Q4 24 | $27.6M | $51.1M | ||
| Q3 24 | $53.7M | $66.0M | ||
| Q2 24 | $50.2M | $33.7M | ||
| Q1 24 | $7.6M | $26.7M |
| Q4 25 | $26.7M | $47.8M | ||
| Q3 25 | $15.9M | $-6.2M | ||
| Q2 25 | $45.2M | $67.4M | ||
| Q1 25 | $-69.2M | $-52.7M | ||
| Q4 24 | $27.0M | $-32.4M | ||
| Q3 24 | $52.4M | $9.0M | ||
| Q2 24 | $49.6M | $-16.7M | ||
| Q1 24 | $6.7M | $-37.9M |
| Q4 25 | 4.6% | 12.7% | ||
| Q3 25 | 3.5% | -1.6% | ||
| Q2 25 | 12.4% | 17.9% | ||
| Q1 25 | -18.3% | -15.0% | ||
| Q4 24 | 8.0% | -9.2% | ||
| Q3 24 | 19.3% | 2.5% | ||
| Q2 24 | 26.6% | -4.6% | ||
| Q1 24 | 1.9% | -11.2% |
| Q4 25 | 0.1% | 7.7% | ||
| Q3 25 | 0.1% | 7.6% | ||
| Q2 25 | 0.3% | 8.4% | ||
| Q1 25 | 0.7% | 14.9% | ||
| Q4 24 | 0.2% | 23.6% | ||
| Q3 24 | 0.5% | 15.6% | ||
| Q2 24 | 0.3% | 14.0% | ||
| Q1 24 | 0.3% | 19.2% |
| Q4 25 | — | 4.17× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 3.12× | ||
| Q1 25 | — | -0.02× | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | 3.05× | 2.34× | ||
| Q2 24 | 3.76× | 1.20× | ||
| Q1 24 | 0.25× | 4.04× |
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% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
