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Side-by-side financial comparison of StepStone Group Inc. (STEP) and YELP INC (YELP). Click either name above to swap in a different company.
StepStone Group Inc. is the larger business by last-quarter revenue ($586.5M vs $360.0M, roughly 1.6× YELP INC). YELP 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 -0.5%). YELP INC produced more free cash flow last quarter ($72.3M vs $26.7M). 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.
Yelp Inc. is an American company that develops the Yelp.com website and the Yelp mobile app, which publishes crowd-sourced reviews about businesses. It also operates Yelp Guest Manager, a table reservation service. It is headquartered in San Francisco.
STEP vs YELP — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $586.5M | $360.0M |
| Net Profit | $-123.5M | $37.8M |
| Gross Margin | — | — |
| Operating Margin | -33.2% | 13.6% |
| Net Margin | -21.0% | 10.5% |
| Revenue YoY | 73.0% | -0.5% |
| Net Profit YoY | 35.7% | -10.5% |
| EPS (diluted) | $-1.55 | $0.60 |
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 | $360.0M | ||
| Q3 25 | $454.2M | $376.0M | ||
| Q2 25 | $364.3M | $370.4M | ||
| Q1 25 | $377.7M | $358.5M | ||
| Q4 24 | $339.0M | $362.0M | ||
| Q3 24 | $271.7M | $360.3M | ||
| Q2 24 | $186.4M | $357.0M | ||
| Q1 24 | $356.8M | $332.8M |
| Q4 25 | $-123.5M | $37.8M | ||
| Q3 25 | $-366.1M | $39.3M | ||
| Q2 25 | $-38.4M | $44.1M | ||
| Q1 25 | $-18.5M | $24.4M | ||
| Q4 24 | $-192.0M | $42.2M | ||
| Q3 24 | $17.6M | $38.4M | ||
| Q2 24 | $13.3M | $38.0M | ||
| Q1 24 | $30.8M | $14.2M |
| Q4 25 | -33.2% | 13.6% | ||
| Q3 25 | -148.8% | 14.1% | ||
| Q2 25 | -5.6% | 14.4% | ||
| Q1 25 | 2.6% | 8.2% | ||
| Q4 24 | -101.7% | 14.8% | ||
| Q3 24 | 21.3% | 12.9% | ||
| Q2 24 | 29.4% | 11.1% | ||
| Q1 24 | 26.5% | 3.4% |
| Q4 25 | -21.0% | 10.5% | ||
| Q3 25 | -80.6% | 10.5% | ||
| Q2 25 | -10.5% | 11.9% | ||
| Q1 25 | -4.9% | 6.8% | ||
| Q4 24 | -56.6% | 11.7% | ||
| Q3 24 | 6.5% | 10.7% | ||
| Q2 24 | 7.2% | 10.7% | ||
| Q1 24 | 8.6% | 4.3% |
| Q4 25 | $-1.55 | $0.60 | ||
| Q3 25 | $-4.66 | $0.61 | ||
| Q2 25 | $-0.49 | $0.67 | ||
| Q1 25 | $-0.37 | $0.36 | ||
| Q4 24 | $-2.61 | $0.58 | ||
| Q3 24 | $0.26 | $0.56 | ||
| Q2 24 | $0.20 | $0.54 | ||
| 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 | — | $319.4M |
| Total DebtLower is stronger | $270.2M | — |
| Stockholders' EquityBook value | $-378.8M | $710.9M |
| Total Assets | $5.2B | $958.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $319.4M | ||
| Q3 25 | — | $333.6M | ||
| Q2 25 | — | $301.1M | ||
| Q1 25 | — | $324.4M | ||
| Q4 24 | — | $317.9M | ||
| Q3 24 | — | $397.0M | ||
| Q2 24 | — | $384.8M | ||
| Q1 24 | — | $420.8M |
| 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 | $710.9M | ||
| Q3 25 | $-233.5M | $733.2M | ||
| Q2 25 | $153.9M | $746.4M | ||
| Q1 25 | $179.4M | $728.0M | ||
| Q4 24 | $209.8M | $744.0M | ||
| Q3 24 | $397.5M | $739.5M | ||
| Q2 24 | $366.9M | $735.3M | ||
| Q1 24 | $324.5M | $722.0M |
| Q4 25 | $5.2B | $958.5M | ||
| Q3 25 | $5.3B | $989.9M | ||
| Q2 25 | $4.8B | $980.2M | ||
| Q1 25 | $4.6B | $985.2M | ||
| Q4 24 | $4.3B | $983.6M | ||
| Q3 24 | $4.0B | $980.2M | ||
| Q2 24 | $3.8B | $965.0M | ||
| Q1 24 | $3.8B | $993.5M |
| 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 | $84.5M |
| Free Cash FlowOCF − Capex | $26.7M | $72.3M |
| FCF MarginFCF / Revenue | 4.6% | 20.1% |
| Capex IntensityCapex / Revenue | 0.1% | 3.4% |
| Cash ConversionOCF / Net Profit | — | 2.24× |
| TTM Free Cash FlowTrailing 4 quarters | $18.6M | $323.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | $84.5M | ||
| Q3 25 | $16.2M | $131.5M | ||
| Q2 25 | $46.3M | $58.0M | ||
| Q1 25 | $-66.5M | $98.0M | ||
| Q4 24 | $27.6M | $71.0M | ||
| Q3 24 | $53.7M | $102.3M | ||
| Q2 24 | $50.2M | $39.7M | ||
| Q1 24 | $7.6M | $72.9M |
| Q4 25 | $26.7M | $72.3M | ||
| Q3 25 | $15.9M | $118.9M | ||
| Q2 25 | $45.2M | $45.0M | ||
| Q1 25 | $-69.2M | $87.5M | ||
| Q4 24 | $27.0M | $60.0M | ||
| Q3 24 | $52.4M | $92.5M | ||
| Q2 24 | $49.6M | $30.1M | ||
| Q1 24 | $6.7M | $65.9M |
| Q4 25 | 4.6% | 20.1% | ||
| Q3 25 | 3.5% | 31.6% | ||
| Q2 25 | 12.4% | 12.2% | ||
| Q1 25 | -18.3% | 24.4% | ||
| Q4 24 | 8.0% | 16.6% | ||
| Q3 24 | 19.3% | 25.7% | ||
| Q2 24 | 26.6% | 8.4% | ||
| Q1 24 | 1.9% | 19.8% |
| Q4 25 | 0.1% | 3.4% | ||
| Q3 25 | 0.1% | 3.3% | ||
| Q2 25 | 0.3% | 3.5% | ||
| Q1 25 | 0.7% | 2.9% | ||
| Q4 24 | 0.2% | 3.0% | ||
| Q3 24 | 0.5% | 2.7% | ||
| Q2 24 | 0.3% | 2.7% | ||
| Q1 24 | 0.3% | 2.1% |
| Q4 25 | — | 2.24× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 4.02× | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | 3.05× | 2.66× | ||
| Q2 24 | 3.76× | 1.04× | ||
| Q1 24 | 0.25× | 5.15× |
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% |
YELP
| Advertising Services | $231.4M | 64% |
| Advertising Restaurants And Other | $106.8M | 30% |
| Other Revenue | $21.8M | 6% |
