HA Sustainable Infrastructure Capital, Inc. (HASI) vs Main Street Capital Corporation (MAIN)

HA Sustainable Infrastructure Capital, Inc. and Main Street Capital Corporation are both Asset Management companies. HA Sustainable Infrastructure Capital, Inc. and Main Street Capital Corporation are of similar size ($5.1B and $4.7B). Main Street Capital Corporation trades at the lower P/E: 10.8× against 55.2×. HA Sustainable Infrastructure Capital, Inc. grew revenue faster over the last twelve months: 26.5% against 3.00%. Main Street Capital Corporation has the higher net margin (78.5% vs 18.6%) and the higher return on invested capital (6.18% vs 2.39%). Both pay a dividend; Main Street Capital Corporation yields more (6.81% vs 4.65%). Across the 19 metrics below, Main Street Capital Corporation leads on 15 and HA Sustainable Infrastructure Capital, Inc. on 4.

Valuation

Metric HASI MAIN Asset Management median
P/E 55.18 10.83 13.99
P/S 10.06 8.71 2.76
P/B 1.76 1.58 0.85
Price to free cash flow 14.36 n/m 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 1.81% 9.23% 4.72%
Free cash flow yield 6.97% (2.99%) 4.44%

Profitability

Metric HASI MAIN Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 68.65% 86.99% 33.42%
Net margin 18.61% 78.49% 13.37%
Free cash flow margin 45.05% (26.05%) 12.36%
Return on equity 3.29% 14.92% 4.79%
Return on assets 1.04% 8.04% 1.55%
Return on invested capital 2.39% 6.18% 2.97%

Growth

Metric HASI MAIN Asset Management median
Revenue growth (TTM) 26.51% 3.00% 7.42%
EPS growth (last fiscal year) (12.96%) (5.64%) (6.67%)
Revenue growth, 5-year CAGR 16.47% 20.53% 12.51%
Net income growth, 5-year CAGR 17.49% 75.80% 0.00%

Health

Metric HASI MAIN Asset Management median
Debt to equity 2.23 0.19 0.44
Current ratio 8.89 0.05 1.30
Net debt to EBITDA 17.91 1.64 1.02

Dividend

Metric HASI MAIN Asset Management median
Dividend yield 4.65% 6.81% 6.60%
Payout ratio 3.20 0.74 0.94

Size

Metric HASI MAIN Asset Management median
Market cap 4.73b 5.07b 694.86m

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