Equity Profile

STEP

StepStone Group Inc.

FinancialsAsset Management & Custody Banks$4.3B

Aug6Thu

Pre-Earnings Brief

UpcomingQ1-2027After Close5:00 PM EDT

Company Snapshot

StepStone Group Inc. is a financial services company specializing 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 will help assess its financial health this quarter.

N/A

Assets Under Management (AUM)

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

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 specializing in asset management and custody banking. With a market cap of $4 billion, it plays a crucial role in managing investments for clients, which is particularly relevant 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 Q4-2026, StepStone reported an EPS of $0.57, exceeding estimates by 11.76%. However, the stock experienced a slight decline the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about StepStone's upcoming earnings, given its recent performance and historical EPS beats.

Bull Case

If StepStone continues its trend of beating EPS estimates, it could signal strong operational efficiency and investor confidence, potentially driving the stock higher.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of declining AUM, it could raise concerns about its future growth prospects, leading to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current Assets Under Management (AUM) figure?

AUM is a critical metric for StepStone, as it directly influences revenue and reflects client confidence in the firm's investment strategies.

How does management plan to address any potential revenue growth challenges?

Understanding management's strategy for growth will be crucial for assessing the company's future performance and investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may underestimate StepStone's ability to grow AUM despite current economic challenges, as its diversified investment strategies could yield better-than-expected results.

Supporting Evidence

Historical data shows a 75% EPS beat rate, indicating strong operational performance.

Options pricing suggests a significant move, reflecting uncertainty that could lead to a positive surprise.

Recent trends in asset management indicate a potential uptick in client investments.

Key Risk

If AUM growth exceeds 10%, it could significantly shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on StepStone's ability to maintain or grow its AUM, which is vital for sustaining revenue and profitability.

Bull Confirmed If

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

Bear Confirmed If

A decline in AUM or revenue growth below 5% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.5%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant potential movement in the stock, suggesting uncertainty 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 the stock could see a modest uptick, confirming operational strength.

In-Line / Cautious

An in-line report may lead to a muted reaction, as investors weigh management's commentary on future growth.

Miss

If the company misses expectations, history suggests a potential decline in stock price, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on AUM and any new client acquisitions.
2Management's outlook on market conditions and investment strategies.
3Details on revenue growth initiatives and cost management.
4Any commentary on competitive positioning in the asset management sector.

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Company Snapshot

StepStone Group Inc. is a financial services company specializing 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 will help assess its financial health this quarter.

N/A

Assets Under Management (AUM)

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

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

In Q4-2026, StepStone reported an EPS of $0.57, exceeding estimates by 11.76%. However, the stock experienced a slight decline the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about StepStone's upcoming earnings, given its recent performance and historical EPS beats.

Bull Case

If StepStone continues its trend of beating EPS estimates, it could signal strong operational efficiency and investor confidence, potentially driving the stock higher.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of declining AUM, it could raise concerns about its future growth prospects, leading to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current Assets Under Management (AUM) figure?

AUM is a critical metric for StepStone, as it directly influences revenue and reflects client confidence in the firm's investment strategies.

How does management plan to address any potential revenue growth challenges?

Understanding management's strategy for growth will be crucial for assessing the company's future performance and investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may underestimate StepStone's ability to grow AUM despite current economic challenges, as its diversified investment strategies could yield better-than-expected results.

Supporting Evidence

Historical data shows a 75% EPS beat rate, indicating strong operational performance.

Options pricing suggests a significant move, reflecting uncertainty that could lead to a positive surprise.

Recent trends in asset management indicate a potential uptick in client investments.

Key Risk

If AUM growth exceeds 10%, it could significantly shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on StepStone's ability to maintain or grow its AUM, which is vital for sustaining revenue and profitability.

Bull Confirmed If

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

Bear Confirmed If

A decline in AUM or revenue growth below 5% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.5%

Historical Avg

±2.2%

Pricing rich

The options market is pricing in a significant potential movement in the stock, suggesting uncertainty 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 the stock could see a modest uptick, confirming operational strength.

In-Line / Cautious

An in-line report may lead to a muted reaction, as investors weigh management's commentary on future growth.

Miss

If the company misses expectations, history suggests a potential decline in stock price, reflecting investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on AUM and any new client acquisitions.
2Management's outlook on market conditions and investment strategies.
3Details on revenue growth initiatives and cost management.
4Any commentary on competitive positioning in the asset management sector.