StepStone Group Inc. [Rocket]

In millions, except per share items	Mar-31-22	Mar-31-21	Mar-31-20	Mar-31-19	Mar-31-18
	10-K	10-K	10-K	10-K	S-1
Revenues:
Fund reimbursement revenues	1.7	0.2	0.7	0.8
SMAs	174.3	135.8	107.3	86.1
Other	1,189.5	651.7	338.7	169.3
Total revenues	1,365.5	787.7	446.6	256.3	264.3
Revenue growth [+]	73.4%	76.4%	74.3%	-3.0%
Fund reimbursement revenues	610.5%	-64.4%	-19.3%
SMAs	28.4%	26.6%	24.6%
United States	156.9%	53.4%	22.3%
Cost of goods sold	802.7	411.1	242.3	141.5	146.9
Gross profit	562.8	376.7	204.3	114.7	117.4
Gross margin	41.2%	47.8%	45.7%	44.8%	44.4%
Selling, general and administrative [+]	110.5	48.5	52.4	48.3	35.9
General and administrative	110.5	48.5	52.4	48.3	35.9
Equity in earnings	26.2	16.4	6.9	4.1
Other operating expenses	-42.2	-1.6			-5.1
EBITDA [+]	547.7	351.7	165.9	78.4	90.9
EBITDA growth	55.7%	111.9%	111.6%	-13.7%
EBITDA margin	40.1%	44.6%	37.2%	30.6%	34.4%
Depreciation	2.5	2.2	2.1	1.4	4.3
EBITA	545.2	349.5	163.9	77.0	86.6
EBITA margin	39.9%	44.4%	36.7%	30.1%	32.8%
Amortization of intangibles	24.5	3.3	5.0	6.5
EBIT [+]	520.7	346.2	158.9	70.5	86.6
EBIT growth	50.4%	117.9%	125.2%	-18.5%
EBIT margin	38.1%	43.9%	35.6%	27.5%	32.8%
Non-recurring items	9.6	1.6
Interest expense, net [+]	0.8	6.9	8.8	8.8	0.8
Interest expense	1.1	7.4	10.2	10.3	0.9
Interest income	0.3	0.4	1.4	1.5	0.1
Other income (expense), net	2.2	0.2	-1.4	-0.2	0.0
Pre-tax income	512.6	337.8	148.7	61.6	85.8
Income taxes	28.3	23.3	4.0	1.6	2.0
Tax rate	5.5%	6.9%	2.7%	2.7%	2.3%
Minority interest					2.4
Net income	484.3	314.6	144.8	60.0	83.8
Net margin	35.5%	39.9%	32.4%	23.4%	31.7%

Basic EPS [+]	$9.72	$10.61
Growth	-8.4%
Diluted EPS [+]	$9.04	$9.45
Growth	-4.4%

Dividends per share [+]	$0.44	$0.07
Growth	528.6%

Shares outstanding (basic) [+]	49.8	29.7
Growth	68.0%
Shares outstanding (diluted) [+]	53.6	33.3
Growth	61.1%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.