Main Street Capital Corporation

NYSE:MAIN Stock Report

Market Cap: US$4.0b

Main Street Capital Valuation

Is MAIN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MAIN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MAIN ($46.78) is trading above our estimate of fair value ($45.33)

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


Key Valuation Metric

Which metric is best to use when looking at relative valuation for MAIN?

Other financial metrics that can be useful for relative valuation.

MAIN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue11.5x
Enterprise Value/EBITDAn/a
PEG Ratio-0.9x

Price to Earnings Ratio vs Peers

How does MAIN's PE Ratio compare to its peers?

The above table shows the PE ratio for MAIN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.3x
HTGC Hercules Capital
8.6x0.3%US$2.9b
AMK AssetMark Financial Holdings
21.3x12.2%US$2.6b
CNS Cohen & Steers
29.1x5.1%US$3.8b
PAX Patria Investments
18.2x26.2%US$2.2b
MAIN Main Street Capital
9.3x-10.5%US$4.0b

Price-To-Earnings vs Peers: MAIN is good value based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (19.3x).


Price to Earnings Ratio vs Industry

How does MAIN's PE Ratio compare vs other companies in the US Capital Markets Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.9%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a15.9%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: MAIN is good value based on its Price-To-Earnings Ratio (9.3x) compared to the US Capital Markets industry average (19.7x).


Price to Earnings Ratio vs Fair Ratio

What is MAIN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MAIN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.3x
Fair PE Ratio11.4x

Price-To-Earnings vs Fair Ratio: MAIN is good value based on its Price-To-Earnings Ratio (9.3x) compared to the estimated Fair Price-To-Earnings Ratio (11.4x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MAIN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$46.78
US$45.20
-3.4%
2.9%US$47.00US$43.00n/a5
Mar ’25US$45.44
US$45.67
+0.5%
3.5%US$48.00US$43.00n/a6
Feb ’25US$44.96
US$44.50
-1.0%
5.5%US$48.00US$41.00n/a6
Jan ’25US$43.23
US$44.17
+2.2%
4.6%US$47.00US$41.00n/a6
Dec ’24US$41.68
US$44.17
+6.0%
4.6%US$47.00US$41.00n/a6
Nov ’24US$39.30
US$44.00
+12.0%
4.9%US$47.00US$41.00n/a6
Oct ’24US$40.63
US$44.00
+8.3%
4.9%US$47.00US$41.00n/a6
Sep ’24US$40.67
US$44.00
+8.2%
4.9%US$47.00US$41.00n/a6
Aug ’24US$42.24
US$43.67
+3.4%
4.9%US$46.00US$41.00n/a6
Jul ’24US$40.03
US$43.67
+9.1%
4.9%US$46.00US$41.00n/a6
Jun ’24US$39.90
US$43.33
+8.6%
4.7%US$46.00US$41.00n/a6
May ’24US$40.53
US$43.17
+6.5%
4.3%US$46.00US$41.00n/a6
Apr ’24US$39.46
US$43.17
+9.4%
4.3%US$46.00US$41.00n/a6
Mar ’24US$41.92
US$43.17
+3.0%
4.3%US$46.00US$41.00US$45.446
Feb ’24US$39.71
US$41.17
+3.7%
5.7%US$46.00US$39.00US$44.966
Jan ’24US$36.95
US$41.17
+11.4%
5.7%US$46.00US$39.00US$43.236
Dec ’23US$38.27
US$41.25
+7.8%
6.7%US$46.00US$39.00US$41.684
Nov ’23US$37.25
US$41.75
+12.1%
7.5%US$47.00US$39.00US$39.304
Oct ’23US$33.64
US$42.75
+27.1%
7.1%US$47.00US$39.00US$40.634
Sep ’23US$40.67
US$42.75
+5.1%
7.1%US$47.00US$39.00US$40.674
Aug ’23US$44.49
US$41.75
-6.2%
8.5%US$47.00US$37.00US$42.244
Jul ’23US$39.48
US$41.75
+5.7%
8.5%US$47.00US$37.00US$40.034
Jun ’23US$37.89
US$42.40
+11.9%
8.1%US$47.00US$37.00US$39.905
May ’23US$40.24
US$44.20
+9.8%
6.3%US$48.00US$41.00US$40.535
Apr ’23US$42.60
US$44.20
+3.8%
6.3%US$48.00US$41.00US$39.465
Mar ’23US$42.75
US$45.00
+5.3%
5.7%US$48.00US$42.00US$41.924

Analyst Forecast: Target price is lower than the current share price.


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