STEPSTONE GROUP INC.
Profit Margins
| Fiscal Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| FY2021 | — | 43.8% | 8.0% |
| FY2022 | — | 37.6% | 14.2% |
| FY2023 | — | 55.1% | 27.2% |
| FY2024 | — | 28.8% | 8.2% |
| FY2025 | — | -18.9% | -15.3% |
| FY2026 | — | -44.7% | -26.9% |
Abnormally good or abnormally bad conditions do not last forever.