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Main Street Capital Corporation

MAIN Financial Asset Management

Main Street Capital Corporation’s revenue for fiscal 2025 (year ended December 2025) was $566.4 million, up 4.69% from fiscal 2024. In the quarter to June 2026, revenue grew 3.89%, EPS grew 15.3%, free cash flow grew 13.7% and total debt fell 28.6%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

53.71 0.56 −1.03%
Market cap
$5.1B
P/E
10.8×
Fwd P/E
15.2×
Dividend yield
6.81%
F-score
2/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 3.74%

Capital & Financial Ratios $m

Market Cap 5,070.00
Revenue 575.05
Net Income 451.34
Free Cash Flow (149.81)
Net Debt 527.88
Current Ratio 0.05
Debt/Equity 0.19
P/E ratio 10.83
Fwd P/E 15.20
P/S ratio 8.71
P/B ratio 1.58
Past 5Y EPS Growth 65.10% (at or above 15%: strong)
This Y EPS Growth (4.00%) (below 0%: weak)
Next Y EPS Growth 1.70%
Next Y revenue growth 3.67%
Next 5Y EPS Growth 0.09%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 42.23%
10-year low 10-year high
P/S against its own 10 years 29.41%
10-year low 10-year high
P/B against its own 10 years 42.02%
10-year low 10-year high

Dividends

Payout Ratio 0.74
Annual Dividend Rate 3.66
Annual Dividend Yield 6.81%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 4.35
0.26
0.26
0.26
0.30
0.26
0.26
0.26
0.30
0.27
0.27
0.27
0.30
0.27
0.27
0.27
2025 4.23
0.25
0.25
0.25
0.30
0.25
0.25
0.25
0.30
0.26
0.26
0.30
0.26
0.30
0.26
0.26
0.26
0.30
2024 3.21
0.24
0.24
0.24
0.30
0.24
0.24
0.24
0.30
0.25
0.25
0.25
0.30
0.25
0.25
0.25
0.30
2023 3.15
0.23
0.23
0.23
0.18
0.23
0.23
0.23
0.23
0.23
0.23
0.23
0.28
0.24
0.24
0.24
0.28
2022 2.85
0.22
0.22
0.22
0.08
0.22
0.22
0.22
0.08
0.22
0.22
0.22
0.10
0.22
0.22
0.22
0.10
2021 2.58
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.10
2020 2.26
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.21
0.21
2019 2.92
0.20
0.20
0.20
0.20
0.20
0.25
0.21
0.21
0.21
0.21
0.21
0.21
0.24
0.21
2018 2.85
0.19
0.19
0.19
0.19
0.19
0.28
0.19
0.19
0.19
0.20
0.20
0.20
0.28
0.20
2017 2.24
0.19
0.19
0.19
0.19
0.19
0.28
0.19
0.19
0.19
0.19
0.19
0.19
0.28
0.19
2016 2.18
0.18
0.18
0.18
0.18
0.18
0.28
0.18
0.18
0.18
0.19
0.19
0.19
0.28
0.19
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 60 78 42 58
Receivables 89 98 108 52
Inventory — — — —
Other — — — —
149 176 150 125
2023 2024 2025 Q'26
Payables 37 45 53 61
ST’ Debt 360 384 518 241
Other 63 70 68 55
1,622 1,980 2,343 2,429

Compound Annual Growth %

10y 5y 3y
Sales 13.15% 20.53% 14.55%
Cash Flow 0.00% 0.00% 0.00%
Earnings 16.80% 75.80% 26.87%
Book Value 10.83% 14.60% 12.40%

Revenue $m

Mar Jun Sep Dec Year
’26 140 150 — — —
’25 137 144 140 146 566
’24 132 132 137 140 541
’23 120 128 123 129 500
’22 79 85 98 114 377
’21 63 67 77 82 289
’20 56 52 52 63 223
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (139) 117 — — —
’25 (20) 103 91 (218) (46)
’24 (118) (186) 72 145 (87)
’23 20 28 84 154 285
’22 (50) 10 (218) 10 (247)
’21 (25) (83) (51) (357) (515)
’20 61 (22) (68) (26) (54)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (139) 117 — — —
’25 (20) 103 91 (218) (46)
’24 (118) (186) 72 145 (87)
’23 20 28 84 154 285
’22 (50) 10 (218) 10 (247)
’21 (25) (83) (51) (357) (515)
’20 61 (22) (68) (26) (54)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.54 1.58 — — —
’25 1.31 1.37 1.38 1.46 5.52
’24 1.26 1.19 1.42 1.97 5.85
’23 1.00 1.32 1.25 1.65 5.23
’22 0.91 0.20 0.74 1.37 3.24
’21 0.84 1.39 1.22 1.34 4.80
’20 (2.66) 0.66 1.18 1.19 0.45
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 24.21 35.25 31.95 33.43 14.11 31.00 31.66 36.48 42.68 47.00

Analyst estimates 2026–2028

Powerpack
High 37.57 41.79 40.77 44.35 45.10 47.13 45.67 44.19 58.81 67.77
People
People Employees 57 58 66 71 0 80 91 100 104 110
Revenue/emp, $m 3.13 3.55 3.54 3.43 0.00 3.61 4.14 5.00 5.20 5.15
Income, $m
Income, $m Revenue 178 206 233 243 223 289 377 500 541 566
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
EBT 138 195 174 131 16 364 265 451 539 520
EBT margin, % 77.20 94.82 74.72 53.75 7.12 125.80 70.30 90.15 99.57 91.84
Net income 139 171 168 130 29 331 242 428 508 493
Depreciation 3 3 3 4 3 3 3 3 5 7
Per share, $
Per share, $ Revenue 3.43 3.63 3.88 3.87 3.39 4.19 5.06 6.11 6.23 6.34
Earnings 2.67 3.01 2.80 2.06 0.45 4.80 3.24 5.23 5.85 5.52
Cash flow (0.82) 1.29 (1.81) (0.54) (0.82) (7.47) (3.32) 3.48 (1.00) (0.51)
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow (0.82) 1.29 (1.81) (0.54) (0.82) (7.47) (3.32) 3.48 (1.00) (0.51)
Book value 23.09 24.35 24.53 24.40 23.05 25.94 28.31 30.24 32.23 33.50
Shares, m 52 57 60 63 66 69 74 82 87 89
Valuation, ×
Valuation, × P/E 13.86 13.34 12.03 20.83 87.19 9.37 11.46 8.32 10.03 10.94
P/S 10.72 10.99 8.72 11.15 9.52 10.70 7.29 7.11 9.40 9.53
P/B 1.59 1.64 1.38 1.77 1.40 1.73 1.30 1.44 1.82 1.80
EV/Sales 13.83 12.46 11.23 13.42 11.95 12.88 9.69 8.40 10.60 10.98
EV/FCF (57.70) 35.16 (24.02) (96.51) (49.20) (7.23) (14.78) 14.73 (65.82) (136.03)
Cash, $m
Cash, $m Operating cash flow (43) 73 (109) (34) (54) (515) (247) 285 (87) (46)
Capex — — — — — — — — — —
Free cash flow (43) 73 (109) (34) (54) (515) (247) 285 (87) (46)
Balance, $m
Balance, $m Working capital (566) (509) (645) (763) (869) (1,470) (1,658) (1,472) (1,804) (2,193)
Total debt 579 352 639 606 573 663 951 705 727 863
Net debt 554 301 585 551 541 630 902 644 649 821
Shareholders’ equity 1,201 1,380 1,476 1,536 1,515 1,789 2,109 2,477 2,798 2,994
Returns, %
Returns, % ROA 7.03 7.87 6.98 4.92 1.07 10.24 6.09 9.87 10.62 9.13
ROIC 4.12 5.03 4.75 4.71 4.19 4.72 5.09 6.79 6.44 6.01
ROE 12.23 13.22 11.78 8.60 1.93 20.02 12.40 18.69 19.26 17.04
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Main Street Capital Corporation vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BXSL Blackstone Secured Lending Fund $5.6B 18.8× 11.4× −7.06% (below 0%: shrinking) −94.12% (below 0%: shrinking) +353.76% (above 0%: growing) 100.00% 85.77% Compare
MAAS Maase Inc. - Sponsored ADR $5.5B — (loss-making) — (loss-making) −60.12% (below 0%: shrinking) +62.50% (above 0%: growing) +82.86% (above 0%: growing) 0.00% 0.00% Compare
STEP StepStone Group Inc. $5.2B — (loss-making) 3.9× +4.01% (above 0%: growing) n/m −1,113.70% (below 0%: shrinking) 100.00% (54.06%) Compare
OBDC Blue Owl Capital Corporation $5.1B 18.1× 12.1× −17.39% (below 0%: shrinking) −51.85% (below 0%: shrinking) −45.84% (below 0%: shrinking) 100.00% 74.72% Compare
MAIN Main Street Capital Corporation $5.1B 10.8× 15.2× +3.89% (above 0%: growing) +15.33% (above 0%: growing) +13.70% (above 0%: growing) 100.00% 87.20%
HASI HA Sustainable Infrastructure Capital, Inc. $4.7B 55.2× 29.3× +40.97% (above 0%: growing) +25.00% (above 0%: growing) −14.48% (below 0%: shrinking) 100.00% 80.56% Compare
HLNE Hamilton Lane Inc. $4.6B 12.3× 12.3× +56.48% (above 0%: growing) +49.23% (above 0%: growing) −40.94% (below 0%: shrinking) 100.00% 45.93% Compare
OTF Blue Owl Technology Finance Corp. $4.3B 11.4× 26.7× +5.81% (above 0%: growing) −23.26% (below 0%: shrinking) +22.79% (above 0%: growing) 100.00% 82.00% Compare
FHI Federated Hermes, Inc. $4.2B 10.4× 11.3× +18.34% (above 0%: growing) +18.97% (above 0%: growing) +342.66% (above 0%: growing) 100.00% 26.43% Compare
Median of peers $4.9B 15.2× 12.1× +4.91% +18.97% +4.15% 100.00% 60.33%

All 120 Asset Management stocks →

Main Street Capital Corporation (MAIN) key facts

  • Concern: Net income was $493.4 million, or $5.52 per share (basic), a net margin of 87.1%.
  • Strength: Main Street Capital Corporation’s revenue for fiscal 2025 (year ended December 2025) was $566.4 million, up 4.69% from fiscal 2024.
  • Main Street Capital Corporation (MAIN) is an Asset Management company in the Financial sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, MAIN traded at $53.71, a market capitalization of $5.1 billion.
  • At that price the stock trades at 10.8× trailing-twelve-month earnings and 8.7× sales; its P/E is higher than 42% of its own readings over the past ten years.
  • Main Street Capital Corporation pays an annual dividend of $3.66 per share, a yield of 6.81%, with a payout ratio of 73.8%.
  • Return on equity was 17.0% and debt-to-equity 0.19.
  • Its Piotroski F-score is 2 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Main Street Capital Corporation (MAIN) Latest News

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stockrow.com/MAIN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com