MAIN Financial Services

Main Street Capital Corporation

$56.33+0.05%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Financial Services
Industry: Asset Management
Country: United States
Market cap: 5.3B USD
Enterprise value: 7.5B USD
Full-time employees: 110

Overall health

Strength: more profitable than most peersmore profitable than peers
About average: growth, valuation and risk (debt, liquidity and share-price swings)growth, valuation and risk

Ranks #110 of 232 financial services companies (top 48%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Main Street Capital reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Shareholders being diluted. Shares outstanding up 10% from December 2022 to August 2026.
Main Street Capital had 10% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Main Street Capital had 10% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Valuation signals disagree. Cheaper than 64% of peers on earnings, but only 2% on free cash flow.
Relative to its earnings, Main Street Capital looks cheaper than 64% of peers; relative to its free cash flow, cheaper than only 2%. The valuation score blends the two, so look at which measure fits this business best.

StockQuotient Score

52/ 100▼ 1 since Oct 27 close

Oct 5 52 → Nov 4 52

Valuation

Is the price right?

48/100

Moderate▼ 3 since Oct 27 close

2/3 inputs reported · Partial data

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 51 → 48

Peer companies moved-3

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ Earnings yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield8.6%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.77Sector median: 0.0571 · MAD: 0.0371

EBITDA yieldUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0689 · MAD: 0.0428

Free cash flow yield-2.8%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.01Sector median: 0.0613 · MAD: 0.0605

Other data (not scored)

Book yield60.1%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.8352 · MAD: 0.4517

Growth

Is it growing?

44/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ 3-yr revenue
▼ EPS growth
▼ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-19.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.07Sector median: 0.0999 · MAD: 0.2773

3-year revenue growth23.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Reported value33% base weight · Z-score 1.51Sector median: 0.0999 · MAD: 0.0858

Revenue growth-1.6%

Yahoo Finance fallback · SEC figure unavailable or out of date · fiscal year to Dec 2025Reported value33% base weight · Z-score -0.61Sector median: 0.0742 · MAD: 0.1477

Profitability

Does it earn well?

74/100

Moderate

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating marginUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.2353 · MAD: 0.1462

Return on assets7.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.17Sector median: 0.0256 · MAD: 0.0233

Return on invested capital7.0%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score 0.14Sector median: 0.0630 · MAD: 0.0518

Other data (not scored)

Gross margin100.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.7878 · MAD: 0.2122

Return on equity14.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0939 · MAD: 0.0702

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.73

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.10Sector median: 0.7010 · MAD: 0.3115

Current ratio1.69×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score -0.27Sector median: 2.0250 · MAD: 1.2470

Debt / equity0.80×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.42Sector median: 0.5734 · MAD: 0.5454

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Main Street Capital

Is Main Street Capital getting weaker?: Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is 52/100, down 1 since Oct 28, 2026.
How is Main Street Capital valued vs its peers?: Priced about in line with its peers. Valuation scores 48/100 against 432 financial services peers. Earnings yield 8.6% vs a peer median of 5.7% (stronger than 64% of peers).Earnings yield 8.6% vs peers 5.7% (stronger than 64% of peers). Free cash flow yield -2.8% vs a peer median of 6.1% (weaker than 98% of peers).Free cash flow yield -2.8% vs peers 6.1% (weaker than 98% of peers).
Is Main Street Capital growing?: At about the same pace as its peers. Growth scores 44/100 against 432 financial services peers. 3-year revenue growth 23.0% vs a peer median of 10.0% (stronger than 80% of peers).3-year revenue growth 23.0% vs peers 10.0% (stronger than 80% of peers). Earnings per share growth -19.6% vs a peer median of 10.0% (weaker than 76% of peers).Earnings per share growth -19.6% vs peers 10.0% (weaker than 76% of peers).
How profitable is Main Street Capital?: More profitable than most of its peers. Profitability scores 74/100 against 432 financial services peers. Return on assets 7.6% vs a peer median of 2.6% (stronger than 84% of peers).Return on assets 7.6% vs peers 2.6% (stronger than 84% of peers).
How risky is Main Street Capital?: Moderate risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Net income (12 months)	426.3M USD	451.3M USD	+5.9%
Debt	2.5B USD	2.5B USD	+0.2%
Cash	20.8M USD	58.3M USD	+180.4%
Shares outstanding	93.0M	93.5M	+0.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Asset Management · 43 companies

Valuations in Asset Management are near the top of their range since 2016.

95% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +10% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is +31% vs the whole market, against a usual +6%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Return on assets (ROA)	9.0%	5.7%	9.6%	9.9%	8.7%	▼ 1.2 pts
Return on equity (ROE)	18.5%	11.5%	17.3%	18.2%	16.5%	▼ 1.7 pts
Debt to equity	1.00×	0.95×	0.73×	0.76×	0.82×	▲ 8.2%

MAIN price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Main Street Capital reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Shareholders being diluted. Shares outstanding up 10% from December 2022 to August 2026.

Main Street Capital had 10% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Main Street Capital had 10% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Valuation signals disagree. Cheaper than 64% of peers on earnings, but only 2% on free cash flow.

Relative to its earnings, Main Street Capital looks cheaper than 64% of peers; relative to its free cash flow, cheaper than only 2%. The valuation score blends the two, so look at which measure fits this business best.

Questions investors ask about Main Street Capital

Is Main Street Capital getting weaker?

Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is 52/100, down 1 since Oct 28, 2026.

How is Main Street Capital valued vs its peers?

Priced about in line with its peers. Valuation scores 48/100 against 432 financial services peers. Earnings yield 8.6% vs a peer median of 5.7% (stronger than 64% of peers).Earnings yield 8.6% vs peers 5.7% (stronger than 64% of peers). Free cash flow yield -2.8% vs a peer median of 6.1% (weaker than 98% of peers).Free cash flow yield -2.8% vs peers 6.1% (weaker than 98% of peers).

Is Main Street Capital growing?

At about the same pace as its peers. Growth scores 44/100 against 432 financial services peers. 3-year revenue growth 23.0% vs a peer median of 10.0% (stronger than 80% of peers).3-year revenue growth 23.0% vs peers 10.0% (stronger than 80% of peers). Earnings per share growth -19.6% vs a peer median of 10.0% (weaker than 76% of peers).Earnings per share growth -19.6% vs peers 10.0% (weaker than 76% of peers).

How profitable is Main Street Capital?

More profitable than most of its peers. Profitability scores 74/100 against 432 financial services peers. Return on assets 7.6% vs a peer median of 2.6% (stronger than 84% of peers).Return on assets 7.6% vs peers 2.6% (stronger than 84% of peers).

How risky is Main Street Capital?

Moderate risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Net income (12 months)

426.3M USD

451.3M USD

+5.9%

Debt

2.5B USD

2.5B USD

+0.2%

Cash

20.8M USD

58.3M USD

+180.4%

Shares outstanding

93.0M

93.5M

+0.6%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Return on assets (ROA)

9.0%

5.7%

9.6%

9.9%

8.7%

▼ 1.2 pts

Return on equity (ROE)

18.5%

11.5%

17.3%

18.2%

16.5%

▼ 1.7 pts

Debt to equity

1.00×

0.95×

0.73×

0.76×

0.82×

▲ 8.2%