A company still losing money with steady sales, with elevated risk.
Going well
Raised its dividend (3.5% yield)
Sales up 70% last year
Watch out for
Owes more than it owns (negative equity)
Losing money, losses are large next to sales
Share count growing 8.5% a year
Money moves
No insider buying or selling in the last 30 days
Institutions cut 2.7% from their holdings in the quarter ending June 2026 (177 bought, 111 sold)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$41.90-0.4% that day
Company value
$3.4B
Share price times all shares
Price vs sales
1.7x
No profit over the last year, so this compares value with sales instead
Dividend yield
3.5%
Yearly dividend as a share of today's price
Cash vs value
20%
Cash as a share of company value
Debt vs value
8%
Debt as a share of company value
From STEP's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$378.9M+4.0% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $2.0B, up 48% from the 12 months before. Over 5 years, sales grew about 20% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of STEP. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$7.5B
Profit in 5 years$746M
Price these guesses point to$88.65+112% vs $41.90 todayAbout +16% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 12% a year for 5 years just to match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/5Weak
MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-37.3%
MissProfitable every yearSteady profits, not one good year.3 of 8 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$63.9M
MissShare count not growingNot diluting owners. Falling means buybacks.+27.7% in 3 years
Revenue
$2.0B
+69.7% vs prior year
5-year growth
+20.4%/yr
revenue, per year
Total debt
$270.2M
Free cash flow
$63.9M
3.2% of revenue
From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. Not in this company's SEC data, so not scored: return on equity 15%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 6
Revenue
$378.9M
+4.0% YoY
EPS
-$1.41
vs -$0.49
Free cash flow
-$458.1M
Share count
+5.3%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
0.7
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady-2.7%
Institutions cut 2.7% from their holdings. 177 bought, 111 sold.
Shares held by institutions79.9M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+7.6%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
Owes more than it owns
Shares outstandingLatest reported
82M
Why elevated risk
Losing money, losses are large next to sales
Share count growing 7.6% a year
Owes more than it owns (negative equity)
1 offering filing in 6 months (may sell new shares)
Earnings reports
Last 12
Next reportAround Nov 5 (est.)Estimated from the same quarter last year
Results filedAug 6
Results filedMay 20
Results filedFeb 5
Results filedNov 6, 2025
Results filedAug 7, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days