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MAIN

Main Street CapitalNYSE:MAIN Stock Report

Last Price

US$44.60

Market Cap

US$3.1b

7D

-0.5%

1Y

36.7%

Updated

19 Jan, 2022

Data

Company Financials +
MAIN fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance1/6
Financial Health2/6
Dividends4/6

MAIN Stock Overview

Main Street Capital Corporation is a private equity firm specializes in equity capital to lower middle market companies.

Main Street Capital Competitors

Ares Capital

NasdaqGS:ARCC

US$9.9b

FS KKR Capital

NYSE:FSK

US$6.4b

Prospect Capital

NasdaqGS:PSEC

US$3.4b

Golub Capital BDC

NasdaqGS:GBDC

US$2.7b

Price History & Performance

Summary of all time highs, changes and price drops for Main Street Capital
Historical stock prices
Current Share PriceUS$44.60
52 Week HighUS$47.13
52 Week LowUS$31.32
Beta1.44
1 Month Change6.06%
3 Month Change2.15%
1 Year Change36.73%
3 Year Change21.73%
5 Year Change23.03%
Change since IPO197.33%

Recent News & Updates

Dec 31

Main Street Capital: 5.75% Dividend Yield, Monthly Payer

MAIN yields 5.75% and pays monthly. It's internally managed, with a lower percent of operating expenses than BDC averages. It has outperformed the BDC industry's average performance in 2021.

Nov 23

Why Main Street Capital Is A Money Minting Machine

Main Street Capital is firing on all cylinders, with robust NAV/share and DNII/share growth. It saw record investment activity in its LMM portfolio last quarter, and is seeing favorable growth in its asset management business. MAIN is essentially "minting money" at the current valuation, given its low cost of equity and debt, and strong investment spread.

Shareholder Returns

MAINUS Capital MarketsUS Market
7D-0.5%-5.0%-3.5%
1Y36.7%25.7%10.2%

Return vs Industry: MAIN exceeded the US Capital Markets industry which returned 30.2% over the past year.

Return vs Market: MAIN exceeded the US Market which returned 13.7% over the past year.

Price Volatility

Is MAIN's price volatile compared to industry and market?
MAIN volatility
MAIN Average Weekly Movement2.2%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.4%

Stable Share Price: MAIN is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: MAIN's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200776Dwayne Hyzakhttps://www.mainstcapital.com

Main Street Capital Corporation is a private equity firm specializes in equity capital to lower middle market companies. The firm also provides debt capital to middle market companies for acquisitions, management buyouts, growth financings, recapitalizations and refinancing. The firm seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio.

Main Street Capital Fundamentals Summary

How do Main Street Capital's earnings and revenue compare to its market cap?
MAIN fundamental statistics
Market CapUS$3.10b
Earnings (TTM)US$315.67m
Revenue (TTM)US$269.39m

9.8x

P/E Ratio

11.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MAIN income statement (TTM)
RevenueUS$269.39m
Cost of RevenueUS$0
Gross ProfitUS$269.39m
Expenses-US$46.28m
EarningsUS$315.67m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)4.54
Gross Margin100.00%
Net Profit Margin117.18%
Debt/Equity Ratio87.5%

How did MAIN perform over the long term?

See historical performance and comparison

Dividends

5.8%

Current Dividend Yield

53%

Payout Ratio

Does MAIN pay a reliable dividends?

See MAIN dividend history and benchmarks
When do you need to buy MAIN by to receive an upcoming dividend?
Main Street Capital dividend dates
Ex Dividend DateFeb 01 2022
Dividend Pay DateFeb 15 2022
Days until Ex dividend12 days
Days until Dividend pay date26 days

Does MAIN pay a reliable dividends?

See MAIN dividend history and benchmarks

Valuation

Is Main Street Capital undervalued compared to its fair value and its price relative to the market?

9.83x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MAIN ($44.53) is trading above our estimate of fair value ($38.19)

Significantly Below Fair Value: MAIN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MAIN is good value based on its PE Ratio (9.8x) compared to the US Capital Markets industry average (15.9x).

PE vs Market: MAIN is good value based on its PE Ratio (9.8x) compared to the US market (17.4x).


Price to Earnings Growth Ratio

PEG Ratio: MAIN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: MAIN is good value based on its PB Ratio (1.8x) compared to the US Capital Markets industry average (42.4x).


Future Growth

How is Main Street Capital forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-37.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MAIN's earnings are forecast to decline over the next 3 years (-37% per year).

Earnings vs Market: MAIN's earnings are forecast to decline over the next 3 years (-37% per year).

High Growth Earnings: MAIN's earnings are forecast to decline over the next 3 years.

Revenue vs Market: MAIN's revenue (5.9% per year) is forecast to grow slower than the US market (9.3% per year).

High Growth Revenue: MAIN's revenue (5.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MAIN's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Main Street Capital performed over the past 5 years?

-0.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MAIN has a large one-off gain of $168.0M impacting its September 30 2021 financial results.

Growing Profit Margin: MAIN became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: MAIN's earnings have declined by 0.7% per year over the past 5 years.

Accelerating Growth: MAIN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: MAIN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (86.4%).


Return on Equity

High ROE: MAIN's Return on Equity (18.7%) is considered low.


Financial Health

How is Main Street Capital's financial position?


Financial Position Analysis

Short Term Liabilities: MAIN's short term assets ($118.2M) exceed its short term liabilities ($58.3M).

Long Term Liabilities: MAIN's short term assets ($118.2M) do not cover its long term liabilities ($1.5B).


Debt to Equity History and Analysis

Debt Level: MAIN's net debt to equity ratio (84%) is considered high.

Reducing Debt: MAIN's debt to equity ratio has increased from 70.7% to 87.5% over the past 5 years.

Debt Coverage: MAIN's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: MAIN's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet


Dividend

What is Main Street Capital current dividend yield, its reliability and sustainability?

5.78%

Current Dividend Yield


Upcoming Dividend Payment

TodayJan 19 2022Ex Dividend DateFeb 01 2022Dividend Pay DateFeb 15 202214 days from Ex DividendBuy in the next 12 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: MAIN's dividend (5.79%) is higher than the bottom 25% of dividend payers in the US market (1.32%).

High Dividend: MAIN's dividend (5.79%) is in the top 25% of dividend payers in the US market (3.44%)


Stability and Growth of Payments

Stable Dividend: MAIN's dividend payments have been volatile in the past 10 years.

Growing Dividend: MAIN's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (53.1%), MAIN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average management tenure


CEO

Dwayne Hyzak (48 yo)

3.17yrs

Tenure

US$1,706,550

Compensation

Mr. Dwayne Louis Hyzak, CPA, serves as Director at Gulf Publishing Holdings LLC. He serves as Chief Executive Officer, Senior Managing Director and Chairman of the Board at MSC Income Fund, Inc. (formerly...


CEO Compensation Analysis

Compensation vs Market: Dwayne's total compensation ($USD1.71M) is below average for companies of similar size in the US market ($USD5.13M).

Compensation vs Earnings: Dwayne's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: MAIN's management team is considered experienced (4.1 years average tenure).


Board Members

Experienced Board: MAIN's board of directors are considered experienced (6.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5%.


Top Shareholders

Company Information

Main Street Capital Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Main Street Capital Corporation
  • Ticker: MAIN
  • Exchange: NYSE
  • Founded: 2007
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$3.099b
  • Shares outstanding: 69.58m
  • Website: https://www.mainstcapital.com

Number of Employees


Location

  • Main Street Capital Corporation
  • 1300 Post Oak Boulevard
  • 8th Floor
  • Houston
  • Texas
  • 77056
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 23:17
End of Day Share Price2022/01/19 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.