STEP (STEP) financial statements
STEP reported revenue of $2.0B in fiscal 2026, up 34.1% a year over 7 years.
Net income was -$536M and the operating margin -51.3%, against 25.9% in 2019.
Free cash flow was $64M, and the company returned $118M in dividends and $9M in net buybacks.
The diluted share count rose 138% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from STEP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $256M | $447M | $788M | $1.4B | -$68M | $712M | $1.2B | $2.0B |
| Selling, general and admin | $48M | $52M | $48M | $110M | $147M | $167M | $177M | $187M |
| Operating income | $66M | $152M | $328M | $452M | -$497,000 | $172M | -$267M | -$1.0B |
| Interest expense | $10M | $10M | $7M | $1M | $4M | $9M | $13M | $19M |
| Pre-tax income | $62M | $149M | $338M | $513M | -$41M | $195M | -$222M | -$891M |
| Income tax | $2M | $4M | $23M | $28M | $4M | $28M | -$49M | -$148M |
| Net income | $0 | $0 | $63M | $194M | -$18M | $58M | -$180M | -$536M |
| EPS (diluted) | — | — | $2.06 | $3.84 | -$0.30 | $0.91 | -$2.52 | -$6.78 |
| Diluted shares | — | — | 33M | 54M | 62M | 67M | 71M | 79M |
| Operating margin | 25.9% | 34.0% | 41.7% | 33.1% | 0.7% | 24.1% | -22.7% | -51.3% |
| Net margin | 0.0% | 0.0% | 8.0% | 14.2% | 27.2% | 8.2% | -15.3% | -26.9% |
Balance sheet
Fiscal years, from STEP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $41M | $90M | $180M | $116M | $130M | $182M | $290M | $1.1B |
| Property, plant and equipment | — | $11M | $10M | $13M | $16M | $30M | $30M | $26M |
| Goodwill | — | $7M | $7M | $581M | $581M | $581M | $581M | $581M |
| Total assets | — | $681M | $1.3B | $4.2B | $3.5B | $3.8B | $4.6B | $6.8B |
| Total liabilities | — | $444M | $661M | $2.4B | $1.8B | $1.9B | $2.8B | $5.9B |
| Shareholders' equity | — | — | $249M | $818M | $772M | $324M | $179M | -$414M |
| Net debt | -$41M | -$90M | -$180M | -$116M | -$130M | -$182M | -$290M | -$1.1B |
Cash flow
Fiscal years, from STEP's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $51M | $66M | $149M | $214M | $151M | $162M | $65M | $66M |
| Capital spending | $3M | $837,000 | $1M | $2M | $6M | $20M | $5M | $3M |
| Free cash flow | $48M | $65M | $148M | $212M | $146M | $142M | $60M | $64M |
| Stock-based compensation | $2M | $2M | $8M | $14M | $25M | $39M | $650M | $1.6B |
| Dividends paid | $0 | $0 | $2M | $24M | $50M | $68M | $76M | $118M |
| Share buybacks (net) | — | — | — | — | — | $0 | $0 | -$9M |
| Net borrowing | -$2M | -$2M | -$147M | — | $0 | $0 | $175M | $0 |
| Free cash flow margin | 18.9% | 14.6% | 18.8% | 15.5% | -215.4% | 19.9% | 5.1% | 3.2% |
| Dividends per share | — | — | $0.06 | $0.45 | $0.81 | $1.03 | $1.07 | $1.49 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for STEP.
Open STEP in InvestinglyQuestions
What was STEP's revenue in 2026?
$2.0B in fiscal 2026, from its 10-K filing.
How much free cash flow does STEP generate?
$64M in fiscal 2026 (operating cash flow minus capital spending).
From STEP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.