Overview Dividends

(MAIN) Main Street Capital - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US56035L1044

Private Equity, Mezzanine Debt, Senior Debt, Subordinated Debt, Preferred Equity

MAIN EPS (Earnings per Share)

EPS Growth (3Y CAGR): -57.77%
EPS Trend (3Y Correlation): -48.9%

MAIN Revenue

Revenue Growth (3Y CAGR): 32.48%
Revenue Trend (3Y Correlation): 72.3%

Risk via 10d forecast
Volatility	15.9%
Value at Risk 5%th	26.3%

Reward
Sharpe Ratio	0.82
Alpha Jensen	9.06

Character
Hurst Exponent	0.383
Beta	0.873

Drawdowns 3y
Max DD	20.97%
Mean DD	3.62%

Description: MAIN Main Street Capital November 06, 2025

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded Business Development Company that invests in lower-middle-market companies through a mix of private-equity-style equity and a broad suite of private-debt instruments. The firm targets both control and non-control positions and offers “one-stop” financing solutions-including senior secured term loans, mezzanine debt, preferred equity, and common equity-to support recapitalizations, growth capital, buyouts, and refinancings across a diversified set of sectors such as logistics, health-care equipment, and specialty retail.

Key metrics from the most recent filing (FY 2023) show a net asset value (NAV) of roughly $5.2 billion, a portfolio of about 300 operating companies, and a dividend yield near 7.5 % (annualized). The company’s leverage ratio (total debt / NAV) sits at approximately 3.0×, reflecting the typical BDC capital structure, while its weighted-average loan maturity is 4.2 years, indicating a moderate interest-rate sensitivity.

Two macro-level drivers are especially relevant to MAIN’s outlook. First, the prevailing low-to-moderate interest-rate environment supports cheaper debt financing for middle-market borrowers, which can boost deal flow for BDCs that specialize in senior secured and mezzanine structures. Second, e-commerce-driven growth in air freight and logistics continues to expand the addressable market for many of MAIN’s portfolio companies, a sector that historically outperforms during periods of robust consumer spending.

For a deeper quantitative comparison of MAIN’s risk-adjusted returns versus peers, the ValueRay platform offers a transparent, data-driven dashboard you may find useful.

MAIN Stock Overview

Market Cap in USD	5,090m
Sub-Industry	Asset Management & Custody Banks
IPO / Inception	2007-10-05
Return 12m vs S&P 500	5.20%
Analyst Rating	3.0 of 5

MAIN Dividends

Dividend Yield	8.87%
Yield on Cost 5y	24.86%
Yield CAGR 5y	16.19%
Payout Consistency	97.6%
Payout Ratio	35.3%

MAIN Growth Ratios

CAGR	25.96%
CAGR/Max DD Calmar Ratio	1.24
CAGR/Mean DD Pain Ratio	7.17
Current Volume	272k
Average Volume	510.7k

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (506.8m TTM) > 0 and > 6% of Revenue (6% = 39.0m TTM)

FCFTA 0.07 (>2.0%) and ΔFCFTA 9.01pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 6.23% (prev 9.16%; Δ -2.94pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.07 (>3.0%) and CFO 372.3m <= Net Income 506.8m (YES >=105%, WARN >=100%)

Net Debt (2.13b) to EBITDA (589.6m) ratio: 3.61 <= 3.0 (WARN <= 3.5)

Current Ratio 1.87 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (89.3m) change vs 12m ago 3.56% (target <= -2.0% for YES)

Gross Margin 84.83% (prev 79.21%; Δ 5.62pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 12.69% (prev 10.36%; Δ 2.33pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 6.07 (EBITDA TTM 589.6m / Interest Expense TTM 131.2m) >= 6 (WARN >= 3)

Altman Z'' 1.57

(A) 0.01 = (Total Current Assets 87.0m - Total Current Liabilities 46.5m) / Total Assets 5.29b

(B) 0.09 = Retained Earnings (Balance) 453.5m / Total Assets 5.29b

(D) 0.19 = Book Value of Equity 454.4m / Total Liabilities 2.40b

Total Rating: 1.57 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 76.10

1. Piotroski 6.0pt = 1.0

2. FCF Yield 5.23% = 2.62

3. FCF Margin 58.09% = 7.50

4. Debt/Equity 0.77 = 2.21

5. Debt/Ebitda 3.61 = -2.39

6. ROIC - WACC (= 8.53)% = 10.67

7. RoE 18.08% = 1.51

8. Rev. Trend 72.34% = 5.43

9. EPS Trend -48.90% = -2.44

What is the price of MAIN shares?

As of November 12, 2025, the stock is trading at USD 59.22 with a total of 271,971 shares traded.
Over the past week, the price has changed by +4.05%, over one month by +5.15%, over three months by -8.71% and over the past year by +21.46%.

Is Main Street Capital a good stock to buy?

Partly, yes. Based on ValueRay´s Fundamental Analyses, Main Street Capital (NYSE:MAIN) is currently (November 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 76.10 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of MAIN is around 67.95 USD . This means that MAIN is currently undervalued and has a potential upside of +14.74% (Margin of Safety).

Is MAIN a buy, sell or hold?

Main Street Capital has received a consensus analysts rating of 3.00. Therefor, it is recommend to hold MAIN.

Strong Buy: 0
Buy: 0
Hold: 4
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the MAIN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	61.3	3.6%
Analysts Target Price	61.3	3.6%
ValueRay Target Price	74.6	26%

MAIN Fundamental Data Overview November 02, 2025

Market Cap USD = 5.09b (5.09b USD * 1.0 USD.USD)
P/E Trailing = 9.3618
P/E Forward = 16.0772
P/S = 9.1179
P/B = 1.9835
P/EG = 2.09
Beta = 0.873
Revenue TTM = 650.2m USD
EBIT TTM = 796.7m USD
EBITDA TTM = 589.6m USD
Long Term Debt = 2.07b USD (estimated: total debt 2.22b - short term 150.3m)
Short Term Debt = 150.3m USD (from shortTermDebt, last quarter)
Debt = 2.22b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.13b USD (from netDebt column, last quarter)
Enterprise Value = 7.22b USD (5.09b + Debt 2.22b - CCE 87.0m)
Interest Coverage Ratio = 6.07 (Ebit TTM 796.7m / Interest Expense TTM 131.2m)
FCF Yield = 5.23% (FCF TTM 377.7m / Enterprise Value 7.22b)
FCF Margin = 58.09% (FCF TTM 377.7m / Revenue TTM 650.2m)
Net Margin = 77.94% (Net Income TTM 506.8m / Revenue TTM 650.2m)
Gross Margin = 84.83% ((Revenue TTM 650.2m - Cost of Revenue TTM 98.7m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 81.74%)
Tobins Q-Ratio = 1.37 (Enterprise Value 7.22b / Total Assets 5.29b)
Interest Expense / Debt = 1.47% (Interest Expense 32.5m / Debt 2.22b)
Taxrate = 3.37% (4.27m / 126.8m)
NOPAT = 769.9m (EBIT 796.7m * (1 - 3.37%))
Current Ratio = 1.87 (Total Current Assets 87.0m / Total Current Liabilities 46.5m)
Debt / Equity = 0.77 (Debt 2.22b / totalStockholderEquity, last quarter 2.88b)
Debt / EBITDA = 3.61 (Net Debt 2.13b / EBITDA 589.6m)
Debt / FCF = 5.64 (Net Debt 2.13b / FCF TTM 377.7m)
Total Stockholder Equity = 2.80b (last 4 quarters mean from totalStockholderEquity)
RoA = 9.58% (Net Income 506.8m / Total Assets 5.29b)
RoE = 18.08% (Net Income TTM 506.8m / Total Stockholder Equity 2.80b)
RoCE = 16.36% (EBIT 796.7m / Capital Employed (Equity 2.80b + L.T.Debt 2.07b))
RoIC = 15.39% (NOPAT 769.9m / Invested Capital 5.00b)
WACC = 6.86% (E(5.09b)/V(7.31b) * Re(9.23%) + D(2.22b)/V(7.31b) * Rd(1.47%) * (1-Tc(0.03)))
Discount Rate = 9.23% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 2.81%
[DCF Debug] Terminal Value 65.28% ; FCFE base≈377.7m ; Y1≈248.0m ; Y5≈113.4m
Fair Price DCF = 20.66 (DCF Value 1.85b / Shares Outstanding 89.4m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -48.90 | EPS CAGR: -57.77% | SUE: -4.0 | # QB: 0
Revenue Correlation: 72.34 | Revenue CAGR: 32.48% | SUE: 1.51 | # QB: 1

Additional Sources for MAIN Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle