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Side-by-side financial comparison of StepStone Group Inc. (STEP) and Xenia Hotels & Resorts, Inc. (XHR). Click either name above to swap in a different company.
StepStone Group Inc. is the larger business by last-quarter revenue ($586.5M vs $295.4M, roughly 2.0× Xenia Hotels & Resorts, Inc.). Xenia Hotels & Resorts, Inc. runs the higher net margin — 6.7% vs -21.0%, a 27.7% gap on every dollar of revenue. On growth, StepStone Group Inc. posted the faster year-over-year revenue change (73.0% vs 2.2%). Over the past eight quarters, StepStone Group Inc.'s revenue compounded faster (28.2% CAGR vs 4.0%).
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.
Xenia Hotels & Resorts, Inc. is a real estate investment trust that invests in hotels. As of December 31, 2024, it owned 31 hotels comprising 9,408 rooms.
STEP vs XHR — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $586.5M | $295.4M |
| Net Profit | $-123.5M | $19.8M |
| Gross Margin | — | — |
| Operating Margin | -33.2% | 14.1% |
| Net Margin | -21.0% | 6.7% |
| Revenue YoY | 73.0% | 2.2% |
| Net Profit YoY | 35.7% | 26.9% |
| EPS (diluted) | $-1.55 | $0.21 |
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 | — | $295.4M | ||
| Q4 25 | $586.5M | $265.6M | ||
| Q3 25 | $454.2M | $236.4M | ||
| Q2 25 | $364.3M | $287.6M | ||
| Q1 25 | $377.7M | $288.9M | ||
| Q4 24 | $339.0M | $261.8M | ||
| Q3 24 | $271.7M | $236.8M | ||
| Q2 24 | $186.4M | $272.9M |
| Q1 26 | — | $19.8M | ||
| Q4 25 | $-123.5M | $6.1M | ||
| Q3 25 | $-366.1M | $-13.7M | ||
| Q2 25 | $-38.4M | $55.2M | ||
| Q1 25 | $-18.5M | $15.6M | ||
| Q4 24 | $-192.0M | $-638.0K | ||
| Q3 24 | $17.6M | $-7.1M | ||
| Q2 24 | $13.3M | $15.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 30.4% | ||
| Q3 25 | — | 25.1% | ||
| Q2 25 | — | 33.6% | ||
| Q1 25 | — | 32.3% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 25.8% | ||
| Q2 24 | — | 31.9% |
| Q1 26 | — | 14.1% | ||
| Q4 25 | -33.2% | 10.1% | ||
| Q3 25 | -148.8% | 2.0% | ||
| Q2 25 | -5.6% | 14.0% | ||
| Q1 25 | 2.6% | 12.4% | ||
| Q4 24 | -101.7% | 8.2% | ||
| Q3 24 | 21.3% | 3.2% | ||
| Q2 24 | 29.4% | 11.1% |
| Q1 26 | — | 6.7% | ||
| Q4 25 | -21.0% | 2.3% | ||
| Q3 25 | -80.6% | -5.8% | ||
| Q2 25 | -10.5% | 19.2% | ||
| Q1 25 | -4.9% | 5.4% | ||
| Q4 24 | -56.6% | -0.2% | ||
| Q3 24 | 6.5% | -3.0% | ||
| Q2 24 | 7.2% | 5.6% |
| Q1 26 | — | $0.21 | ||
| Q4 25 | $-1.55 | $0.07 | ||
| Q3 25 | $-4.66 | $-0.14 | ||
| Q2 25 | $-0.49 | $0.56 | ||
| Q1 25 | $-0.37 | $0.15 | ||
| Q4 24 | $-2.61 | $-0.01 | ||
| Q3 24 | $0.26 | $-0.07 | ||
| Q2 24 | $0.20 | $0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $101.1M |
| Total DebtLower is stronger | $270.2M | — |
| Stockholders' EquityBook value | $-378.8M | $1.2B |
| Total Assets | $5.2B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $101.1M | ||
| Q4 25 | — | $140.4M | ||
| Q3 25 | — | $188.2M | ||
| Q2 25 | — | $172.6M | ||
| Q1 25 | — | $112.6M | ||
| Q4 24 | — | $78.2M | ||
| Q3 24 | — | $161.5M | ||
| Q2 24 | — | $143.6M |
| Q1 26 | — | — | ||
| Q4 25 | $270.2M | $1.4B | ||
| Q3 25 | $269.9M | $1.4B | ||
| Q2 25 | $269.6M | $1.4B | ||
| Q1 25 | $269.3M | $1.4B | ||
| Q4 24 | $168.9M | $1.3B | ||
| Q3 24 | $172.3M | $1.4B | ||
| Q2 24 | $172.1M | $1.4B |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $-378.8M | $1.1B | ||
| Q3 25 | $-233.5M | $1.2B | ||
| Q2 25 | $153.9M | $1.2B | ||
| Q1 25 | $179.4M | $1.2B | ||
| Q4 24 | $209.8M | $1.2B | ||
| Q3 24 | $397.5M | $1.3B | ||
| Q2 24 | $366.9M | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $5.2B | $2.8B | ||
| Q3 25 | $5.3B | $2.9B | ||
| Q2 25 | $4.8B | $2.9B | ||
| Q1 25 | $4.6B | $2.9B | ||
| Q4 24 | $4.3B | $2.8B | ||
| Q3 24 | $4.0B | $2.9B | ||
| Q2 24 | $3.8B | $2.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.25× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | 1.75× | 1.17× | ||
| Q1 25 | 1.50× | 1.18× | ||
| Q4 24 | 0.81× | 1.07× | ||
| Q3 24 | 0.43× | 1.11× | ||
| Q2 24 | 0.47× | 1.09× |
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% | 23.7% |
| 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 | $21.4M | ||
| Q3 25 | $16.2M | $64.0M | ||
| Q2 25 | $46.3M | $36.3M | ||
| Q1 25 | $-66.5M | $54.8M | ||
| Q4 24 | $27.6M | $30.6M | ||
| Q3 24 | $53.7M | $51.2M | ||
| Q2 24 | $50.2M | $57.2M |
| Q1 26 | — | — | ||
| Q4 25 | $26.7M | $5.5M | ||
| Q3 25 | $15.9M | $44.2M | ||
| Q2 25 | $45.2M | $17.8M | ||
| Q1 25 | $-69.2M | $22.4M | ||
| Q4 24 | $27.0M | $6.2M | ||
| Q3 24 | $52.4M | $4.3M | ||
| Q2 24 | $49.6M | $21.4M |
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 2.1% | ||
| Q3 25 | 3.5% | 18.7% | ||
| Q2 25 | 12.4% | 6.2% | ||
| Q1 25 | -18.3% | 7.8% | ||
| Q4 24 | 8.0% | 2.4% | ||
| Q3 24 | 19.3% | 1.8% | ||
| Q2 24 | 26.6% | 7.8% |
| Q1 26 | — | 23.7% | ||
| Q4 25 | 0.1% | 6.0% | ||
| Q3 25 | 0.1% | 8.4% | ||
| Q2 25 | 0.3% | 6.4% | ||
| Q1 25 | 0.7% | 11.2% | ||
| Q4 24 | 0.2% | 9.3% | ||
| Q3 24 | 0.5% | 19.8% | ||
| Q2 24 | 0.3% | 13.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.52× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 3.51× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.05× | — | ||
| Q2 24 | 3.76× | 3.73× |
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% |
XHR
| Rooms revenues | $164.4M | 56% |
| Food and beverage revenues | $105.0M | 36% |
| Other revenues | $26.0M | 9% |
