STEPSTONE GROUP INC.
Cash Flow History
| Fiscal Year | Operating Cash Flow | Free Cash Flow | CapEx | Share-Based Compensation |
|---|---|---|---|---|
| FY2022 | $214.3M | $212.2M | $2.1M | $14.0M |
| FY2023 | $151.2M | $145.6M | $5.6M | $24.9M |
| FY2024 | $161.5M | $141.9M | $19.6M | $39.4M |
| FY2025 | $64.9M | $59.8M | $5.1M | $650.1M |
| FY2026 | $66.5M | $63.9M | $2.6M | $1.62B |
I think that, every time you see the word EBITDA, you should substitute the words 'bullshit earnings.'