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Side-by-side financial comparison of StepStone Group Inc. (STEP) and Wendy's Co (WEN). Click either name above to swap in a different company.
StepStone Group Inc. is the larger business by last-quarter revenue ($586.5M vs $543.0M, roughly 1.1× Wendy's Co). Wendy's Co 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 -5.5%). Wendy's Co produced more free cash flow last quarter ($31.4M vs $26.7M). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 0.8%).
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.
The Wendy's Company is an American fast food corporation and the holding company for Wendy's and First Kitchen. Originally founded as the Deisel-Wemmer Company, it is headquartered in Dublin, Ohio. The company's principal subsidiary, Wendy's International, is the franchisor of Wendy's restaurants.
STEP vs WEN — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $586.5M | $543.0M |
| Net Profit | $-123.5M | $26.5M |
| Gross Margin | — | 62.7% |
| Operating Margin | -33.2% | 11.8% |
| Net Margin | -21.0% | 4.9% |
| Revenue YoY | 73.0% | -5.5% |
| Net Profit YoY | 35.7% | -44.2% |
| EPS (diluted) | $-1.55 | $0.14 |
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 | $543.0M | ||
| Q3 25 | $454.2M | $549.5M | ||
| Q2 25 | $364.3M | $560.9M | ||
| Q1 25 | $377.7M | $523.5M | ||
| Q4 24 | $339.0M | $574.3M | ||
| Q3 24 | $271.7M | $566.7M | ||
| Q2 24 | $186.4M | $570.7M | ||
| Q1 24 | $356.8M | $534.8M |
| Q4 25 | $-123.5M | $26.5M | ||
| Q3 25 | $-366.1M | $44.3M | ||
| Q2 25 | $-38.4M | $55.1M | ||
| Q1 25 | $-18.5M | $39.2M | ||
| Q4 24 | $-192.0M | $47.5M | ||
| Q3 24 | $17.6M | $50.2M | ||
| Q2 24 | $13.3M | $54.6M | ||
| Q1 24 | $30.8M | $42.0M |
| Q4 25 | — | 62.7% | ||
| Q3 25 | — | 62.8% | ||
| Q2 25 | — | 65.0% | ||
| Q1 25 | — | 64.1% | ||
| Q4 24 | — | 65.9% | ||
| Q3 24 | — | 65.5% | ||
| Q2 24 | — | 65.0% | ||
| Q1 24 | — | 64.1% |
| Q4 25 | -33.2% | 11.8% | ||
| Q3 25 | -148.8% | 16.8% | ||
| Q2 25 | -5.6% | 18.6% | ||
| Q1 25 | 2.6% | 15.9% | ||
| Q4 24 | -101.7% | 16.7% | ||
| Q3 24 | 21.3% | 16.7% | ||
| Q2 24 | 29.4% | 17.4% | ||
| Q1 24 | 26.5% | 15.2% |
| Q4 25 | -21.0% | 4.9% | ||
| Q3 25 | -80.6% | 8.1% | ||
| Q2 25 | -10.5% | 9.8% | ||
| Q1 25 | -4.9% | 7.5% | ||
| Q4 24 | -56.6% | 8.3% | ||
| Q3 24 | 6.5% | 8.9% | ||
| Q2 24 | 7.2% | 9.6% | ||
| Q1 24 | 8.6% | 7.9% |
| Q4 25 | $-1.55 | $0.14 | ||
| Q3 25 | $-4.66 | $0.23 | ||
| Q2 25 | $-0.49 | $0.29 | ||
| Q1 25 | $-0.37 | $0.19 | ||
| Q4 24 | $-2.61 | $0.23 | ||
| Q3 24 | $0.26 | $0.25 | ||
| Q2 24 | $0.20 | $0.27 | ||
| Q1 24 | $0.47 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $300.8M |
| Total DebtLower is stronger | $270.2M | $2.8B |
| Stockholders' EquityBook value | $-378.8M | $117.4M |
| Total Assets | $5.2B | $5.0B |
| Debt / EquityLower = less leverage | — | 23.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $300.8M | ||
| Q3 25 | — | $291.4M | ||
| Q2 25 | — | $281.2M | ||
| Q1 25 | — | $335.3M | ||
| Q4 24 | — | $450.5M | ||
| Q3 24 | — | $482.2M | ||
| Q2 24 | — | $465.5M | ||
| Q1 24 | — | $498.3M |
| Q4 25 | $270.2M | $2.8B | ||
| Q3 25 | $269.9M | $2.7B | ||
| Q2 25 | $269.6M | $2.7B | ||
| Q1 25 | $269.3M | $2.7B | ||
| Q4 24 | $168.9M | $2.7B | ||
| Q3 24 | $172.3M | — | ||
| Q2 24 | $172.1M | — | ||
| Q1 24 | $148.8M | — |
| Q4 25 | $-378.8M | $117.4M | ||
| Q3 25 | $-233.5M | $109.2M | ||
| Q2 25 | $153.9M | $112.9M | ||
| Q1 25 | $179.4M | $130.2M | ||
| Q4 24 | $209.8M | $259.4M | ||
| Q3 24 | $397.5M | $259.9M | ||
| Q2 24 | $366.9M | $273.8M | ||
| Q1 24 | $324.5M | $293.7M |
| Q4 25 | $5.2B | $5.0B | ||
| Q3 25 | $5.3B | $5.0B | ||
| Q2 25 | $4.8B | $4.9B | ||
| Q1 25 | $4.6B | $4.9B | ||
| Q4 24 | $4.3B | $5.0B | ||
| Q3 24 | $4.0B | $5.1B | ||
| Q2 24 | $3.8B | $5.1B | ||
| Q1 24 | $3.8B | $5.2B |
| Q4 25 | — | 23.51× | ||
| Q3 25 | — | 24.95× | ||
| Q2 25 | 1.75× | 24.18× | ||
| Q1 25 | 1.50× | 21.00× | ||
| Q4 24 | 0.81× | 10.57× | ||
| 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 | $69.3M |
| Free Cash FlowOCF − Capex | $26.7M | $31.4M |
| FCF MarginFCF / Revenue | 4.6% | 5.8% |
| Capex IntensityCapex / Revenue | 0.1% | 7.0% |
| Cash ConversionOCF / Net Profit | — | 2.62× |
| TTM Free Cash FlowTrailing 4 quarters | $18.6M | $242.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | $69.3M | ||
| Q3 25 | $16.2M | $129.3M | ||
| Q2 25 | $46.3M | $60.6M | ||
| Q1 25 | $-66.5M | $85.4M | ||
| Q4 24 | $27.6M | $68.6M | ||
| Q3 24 | $53.7M | $141.2M | ||
| Q2 24 | $50.2M | $45.5M | ||
| Q1 24 | $7.6M | $100.0M |
| Q4 25 | $26.7M | $31.4M | ||
| Q3 25 | $15.9M | $104.3M | ||
| Q2 25 | $45.2M | $39.2M | ||
| Q1 25 | $-69.2M | $67.7M | ||
| Q4 24 | $27.0M | $26.6M | ||
| Q3 24 | $52.4M | $123.3M | ||
| Q2 24 | $49.6M | $28.4M | ||
| Q1 24 | $6.7M | $82.6M |
| Q4 25 | 4.6% | 5.8% | ||
| Q3 25 | 3.5% | 19.0% | ||
| Q2 25 | 12.4% | 7.0% | ||
| Q1 25 | -18.3% | 12.9% | ||
| Q4 24 | 8.0% | 4.6% | ||
| Q3 24 | 19.3% | 21.8% | ||
| Q2 24 | 26.6% | 5.0% | ||
| Q1 24 | 1.9% | 15.5% |
| Q4 25 | 0.1% | 7.0% | ||
| Q3 25 | 0.1% | 4.5% | ||
| Q2 25 | 0.3% | 3.8% | ||
| Q1 25 | 0.7% | 3.4% | ||
| Q4 24 | 0.2% | 7.3% | ||
| Q3 24 | 0.5% | 3.2% | ||
| Q2 24 | 0.3% | 3.0% | ||
| Q1 24 | 0.3% | 3.2% |
| Q4 25 | — | 2.62× | ||
| Q3 25 | — | 2.92× | ||
| Q2 25 | — | 1.10× | ||
| Q1 25 | — | 2.18× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | 3.05× | 2.81× | ||
| Q2 24 | 3.76× | 0.83× | ||
| Q1 24 | 0.25× | 2.38× |
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% |
WEN
| Franchise Royalty Revenueand Fees | $149.3M | 27% |
| Royalty | $103.6M | 19% |
| Advertising | $103.3M | 19% |
| Global Real Estate Development | $60.5M | 11% |
| Real Estate | $59.5M | 11% |
| Wendys International | $39.5M | 7% |
| Franchise | $21.5M | 4% |
