What is StepStone Group Inc. worth?
With the base-case assumptions below, a discounted cash flow model on StepStone Group Inc.'s reported free cash flow gives $36.85 per share. The share price was $49.18 on November 10, 2026, 33% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $26.37 | -46% |
| Base | 15.0% | 9.0% | $36.85 | -25% |
| Bull | 20.0% | 8.0% | $56.35 | +15% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $44.78 | $47.25 | $50.27 | $54.05 | $58.91 |
| 8.0% | $38.82 | $40.43 | $42.32 | $44.59 | $47.37 |
| 9.0% | $34.49 | $35.58 | $36.85 | $38.32 | $40.07 |
| 10.0% | $31.20 | $31.98 | $32.86 | $33.87 | $35.04 |
| 11.0% | $28.63 | $29.20 | $29.84 | $30.56 | $31.37 |
Where the presets come from
Base: years 1 to 5 grow at StepStone Group Inc.'s revenue growth rate over the last 5 fiscal years (34.9% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions