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StepStone Group vs Affiliated Managers Group: STEP and AMG compared
StepStone Group is the larger company: $773M of revenue in its latest quarter (Q2 FY27) against $641M for Affiliated Managers Group (Q2 2026). StepStone Group is growing faster (+70% against +30% a year earlier). Affiliated Managers Group is more profitable, with an operating margin of 48.0% against 6.2%.
Where the money goes: STEP and AMG
StepStone Group (STEP) · Q2 FY27
StepStone Group, Q2 FY27: revenue $773M (+70% year over year), operating margin 6.2%, net earnings $65.4M. The chart follows the revenue to costs, profit and cash.
Affiliated Managers Group (AMG) · Q2 2026
Affiliated Managers Group, Q2 2026: revenue $641M (+30% year over year), operating margin 48.0%, net earnings $186M, operating cash flow $239M. The chart follows the revenue to costs, profit and cash.
| StepStone Group (STEP) | Affiliated Managers Group (AMG) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q2 2026 |
| Revenue | $773M | $641M |
| Revenue growth, Y/Y | +70% | +30% |
| Operating margin | 6.2% | 48.0% |
| Net earnings | $65.4M | $186M |
| Net margin | 8.5% | 29.0% |
| Operating cash flow | — | $239M |
| Market value | $3.9B | $9.8B |
| P/E | — | 9.3× |
| Analysts’ mean target | $64.60 | $445.71 |
Questions
Which is bigger, StepStone Group or Affiliated Managers Group?
StepStone Group is the larger company: $773M of revenue in its latest quarter (Q2 FY27) against $641M for Affiliated Managers Group (Q2 2026).
Is StepStone Group or Affiliated Managers Group growing faster?
StepStone Group is growing faster (+70% against +30% a year earlier).
Which is more profitable, StepStone Group or Affiliated Managers Group?
Affiliated Managers Group is more profitable, with an operating margin of 48.0% against 6.2%.
More: StepStone Group earnings · how StepStone Group makes money · Affiliated Managers Group earnings · how Affiliated Managers Group makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 5, 2026; 10-Q filed Aug 7, 2026). Fiscal quarters can end on different dates. Not investment advice.