COMP <GO>
STEP vs HSBC // EV/EBITDA & P/E VALUATION
StepStone Group Inc. (NASDAQ) VS. HSBC Holdings plc. (NYSE) • 15-METRIC TALLY: STEP 4
— HSBC 7
■ METRIC PARITY
LAST: $43.22 (-2.81%) • MKT CAP: $5.37B
valuation
—
LAST: $85.42 (-1.36%) • MKT CAP: $297.33B
valuation
21.0x
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (STEP VS. HSBC)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | STEP | HSBC | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | 41.00% | 41.00% | 0.00 | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | -35.00% | 9.90% | -44.90 | HSBC | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | — | 21.0x | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 1.19% | 2.21% | -1.02 | HSBC | /fcf-yield <GO> |
| Operating Margin | -45.50% | 13.90% | -59.40 | HSBC | /operating-margins <GO> |
| Net Profit Margin | -37.30% | 10.90% | -48.20 | HSBC | /net-margins <GO> |
| Revenue Growth (YoY) | 69.70% | 23.10% | +46.60 | STEP | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 2.19% | 0.00% | +2.19 | STEP | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | 0.45 | 3.74 | -3.29 | HSBC | /balance-sheet <GO> |
| Piotroski F-Score Quality | 7/9 | 8/9 | -1.00 | HSBC | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | 6.60% | 6.60% | 0.00 | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 47.6 | 25.0 | +22.57 | STEP | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | 0.92 | 0.92 | 0.00 | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | 18.0x | 27.6x | -9.60 | STEP | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $5.37B | $297.33B | -$291.96B | HSBC | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | STEP REV | HSBC REV | STEP GROSS % | HSBC GROSS % | STEP FCF | HSBC FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $1.99B | — | 44.0% | — | $63.9M | — |
| FY 2024 | $1.17B | — | 44.0% | — | $59.8M | — |
| FY 2023 | $711.6M | — | 44.0% | — | $129.5M | — |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
STEP // BETA 0.92
HSBC // BETA 0.92