Equity Profile

STEP

StepStone Group Inc.

FinancialsAsset Management & Custody Banks$3.5B

Aug6Thu

Pre-Earnings Brief

UpcomingQ1-2027After Close5:00 PM EDT

Company Snapshot

StepStone Group Inc. is a financial services company that specializes in asset management and custody banking....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Assets Under Management (AUM)

AUM reflects the total market value of the investments managed by StepStone, indicating growth and market confidence.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

STEP Q1-2027 Earnings Preview

Context

Company Snapshot

StepStone Group Inc. is a financial services company that specializes in asset management and custody banking. With a market cap of $3 billion, it plays a crucial role in managing investments for various clients, including institutional investors, which is significant in today's fluctuating financial markets.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+13.92%

Avg Stock Reaction

-1.26%

Last Quarter Recap

In the last quarter, StepStone reported an EPS of $0.57, surpassing estimates by 11.76%. However, the stock experienced a slight decline of 0.99% the following day, indicating mixed investor sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations for StepStone's upcoming earnings are uncertain due to a lack of analyst estimates and management guidance. Investors are keenly watching for any signs of growth or challenges in the asset management sector.

Bull Case

The optimistic view hinges on strong performance in asset management, potentially leading to higher EPS and increased AUM, which could boost investor confidence.

Bear Case

Conversely, if the company reports disappointing results or weak guidance, it could signal underlying issues in the asset management space, leading to a decline in stock value.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the updated figure for Assets Under Management (AUM) this quarter?

AUM is a critical metric that indicates the company's growth and market position, and any significant change could impact investor sentiment.

How does StepStone plan to navigate potential challenges in the asset management industry?

Understanding management's strategy in a potentially volatile market will provide insights into the company's future performance and stability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate StepStone's ability to capitalize on market opportunities, particularly if AUM growth exceeds expectations despite broader industry challenges.

Supporting Evidence

The company has a strong track record of beating EPS estimates, with a 75% beat rate over the last eight quarters.

Options are pricing in a larger move than the historical average, suggesting that investors anticipate significant volatility.

The recent performance of financial peers indicates potential for growth in asset management despite market headwinds.

Key Risk

If AUM growth exceeds 10%, it could challenge the consensus view of a stagnant asset management environment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on the company's ability to grow its assets and maintain profitability amid market fluctuations.

Bull Confirmed If

AUM growth of over 10% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A decline in AUM or a significant drop in EPS below $0.50 would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.51%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±15.5% while STEP has averaged ±2.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

40.2%

Calls (27K)P/C Ratio: 3.34Puts (273K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 11 of 25 (44%)

This setup has occurred 30 times across Financials in the last 2 years. 11 of 25 faded and 14 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 2.5%, with a raw directional average of -0.1% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If StepStone beats expectations, history suggests a potential average move of +1.2%, confirming strong operational performance.

In-Line / Cautious

An in-line report could lead to a muted response, as investors await further clarity from management commentary.

Miss

If the company misses expectations, history suggests an average move of -1.44%, indicating a negative market reaction.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on AUM figures and growth strategies.
2Management's commentary on market conditions and competitive landscape.
3Insights into client acquisition and retention strategies.
4Details on any new investment products or services being launched.
5Guidance on future earnings expectations and market outlook.

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Company Snapshot

StepStone Group Inc. is a financial services company that specializes in asset management and custody banking....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Assets Under Management (AUM)

AUM reflects the total market value of the investments managed by StepStone, indicating growth and market confidence.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

STEP Q1-2027 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+13.92%

Avg Stock Reaction

-1.26%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

The optimistic view hinges on strong performance in asset management, potentially leading to higher EPS and increased AUM, which could boost investor confidence.

Bear Case

Conversely, if the company reports disappointing results or weak guidance, it could signal underlying issues in the asset management space, leading to a decline in stock value.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the updated figure for Assets Under Management (AUM) this quarter?

AUM is a critical metric that indicates the company's growth and market position, and any significant change could impact investor sentiment.

How does StepStone plan to navigate potential challenges in the asset management industry?

Understanding management's strategy in a potentially volatile market will provide insights into the company's future performance and stability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate StepStone's ability to capitalize on market opportunities, particularly if AUM growth exceeds expectations despite broader industry challenges.

Supporting Evidence

The company has a strong track record of beating EPS estimates, with a 75% beat rate over the last eight quarters.

Options are pricing in a larger move than the historical average, suggesting that investors anticipate significant volatility.

The recent performance of financial peers indicates potential for growth in asset management despite market headwinds.

Key Risk

If AUM growth exceeds 10%, it could challenge the consensus view of a stagnant asset management environment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on the company's ability to grow its assets and maintain profitability amid market fluctuations.

Bull Confirmed If

AUM growth of over 10% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A decline in AUM or a significant drop in EPS below $0.50 would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.51%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±15.5% while STEP has averaged ±2.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

40.2%

Calls (27K)P/C Ratio: 3.34Puts (273K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Financials

n=30

Fade rate: 11 of 25 (44%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If StepStone beats expectations, history suggests a potential average move of +1.2%, confirming strong operational performance.

In-Line / Cautious

An in-line report could lead to a muted response, as investors await further clarity from management commentary.

Miss

If the company misses expectations, history suggests an average move of -1.44%, indicating a negative market reaction.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on AUM figures and growth strategies.
2Management's commentary on market conditions and competitive landscape.
3Insights into client acquisition and retention strategies.
4Details on any new investment products or services being launched.
5Guidance on future earnings expectations and market outlook.