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Internally managed BDC providing debt and equity capital to lower middle-market private companies.
Internally managed BDC providing debt and equity capital to lower middle-market private companies.
Earns interest on loans to small private companies and, because it often takes equity stakes alongside its loans, gains when those firms are sold or pay dividends. As a business development company, a listed vehicle that must pass most income to shareholders, it pays dividends monthly. A separate unit earns fees managing a sister fund.
Moat: narrow (process know-how, scale, brand). Internally managed, low-cost structure and long-standing lower middle-market underwriting relationships.
Headquarters: Houston, Texas, US · Founded: 2007 · Employees: 110
Size Main Street Capital (MAIN) is a United States Financials company (Financial Conglomerates) with a market value of $5.33B, the 1140th largest of 3,117 United States companies the cockpit tracks. Shares closed at $57.01 on 6 Nov 2026.
Performance Over six months the shares gained 5.5%, against -2.2% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 3.5% over the last twelve months (peer median +19.7%); the operating margin is 90.8% (peer median 31.6%).
Valuation It trades at 15.0× forward earnings against a peer median of 11.3× (8th most expensive of 18).
Credit Main Street Capital has 4 bonds outstanding ($1.80B), rated BBB- by the agencies and trading like BB at a weighted spread of 172 bp.
Short interest Short interest is 10.2% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $682M | $645M | $610M | $402M | $385M |
| Revenue growth | — | +6% | +52% | +5% | — |
| Gross profit | $682M | $645M | $610M | $402M | $385M |
| EBITDA | $619M | $648M | $662M | $554M | $343M |
| Net income | $451M | $493M | $508M | $428M | $242M |
| Free cash flow | $352M | $347M | $332M | $370M | $297M |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Total debt | $2.54B | $2.47B | $2.13B | $1.81B | $2.01B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Main Street Capital MAIN | $5.33B | +6% | +3% | 91% | 15.0× | n/a |
| Ares Capital ARCC | $13.8B | +1% | -8% | 61% | 9.9× | n/a |
| Hercules Capital HTGC | $3.06B | 0% | +40% | 79% | 8.4× | n/a |
| Blue Owl Capital OBDC | $5.39B | -4% | +1% | 54% | 8.2× | n/a |
| Golub Capital BDC GBDC | $3.31B | -3% | -9% | 60% | 9.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MAIN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.7% | +4.0% | 10th highest of 21 |
| 6-month return | +5.5% | -2.2% | 9th highest of 21 |
| Distance from 52-week high | -12.6% | -18.0% | 9th highest of 21 |
| Revenue growth (TTM) | +3.5% | +19.7% | 9th lowest of 20 |
| Operating margin | 90.8% | 31.6% | 5th highest of 21 |
| Forward P/E | 15.0× | 11.3× | 8th most expensive of 18 |
| Bond spread | 172 bp | 181 bp | 2nd tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Main Street Capital MAIN | United States | $5.33B | +6% | +3% | 91% | 15.0× | n/a | n/a |
| Blue Owl Capital OBDC | United States | $5.39B | -4% | +1% | 54% | 8.2× | n/a | n/a |
| Zegona Communications ZEG.L | United Kingdom | $5.17B | -5% | +55% | 8% | 46.4× | n/a | n/a |
| Authum Investment & Infrastucture AIIL.NS | India | $5.14B | +16% | -23% | 79% | n/a | n/a | n/a |
| Azimut AZM.MI | Italy | $5.70B | -1% | +17% | 46% | 10.6× | n/a | n/a |
| Onex ONEX.TO | Canada | $5.91B | -7% | +2% | 173% | 22.3× | n/a | n/a |
| Brookfield Business BBUC.TO | Canada | $6.15B | -9% | +106% | 13% | 5.4× | n/a | n/a |
| Wendel MF.PA | France | $4.14B | 0% | -13% | 12% | 29.9× | n/a | n/a |
| Legend 3396.HK | Hong Kong | $4.03B | +34% | +27% | 4% | 4.8× | n/a | n/a |
| BB Biotech BION.SW | Switzerland | $3.45B | +13% | +125% | 491% | 20.0× | n/a | n/a |
| Golub Capital BDC GBDC | United States | $3.31B | -3% | -9% | 60% | 9.9× | n/a | n/a |
| Aker AKER.OL | Norway | $8.60B | -7% | -17% | 226% | 14.3× | n/a | n/a |
| Roko ROKO-B.ST | Sweden | $2.97B | +14% | +20% | 18% | 25.6× | n/a | n/a |
| Kyivstar KYIV | United States | $2.96B | -4% | +26% | 36% | 9.0× | n/a | n/a |
| M&G MNG.L | United Kingdom | $10.3B | +7% | +68% | 8% | 11.3× | n/a | n/a |
| Strive ASST | United States | $2.73B | +35% | +650% | -14,416% | 4.2× | n/a | n/a |
| Zhejiang Provincial New Energy Investment 600032.SS | China | $2.59B | -27% | -6% | 27% | n/a | n/a | n/a |
| SBI 8473.T | Japan | $11.2B | -13% | +20% | 40% | 5.9× | n/a | n/a |
| BitMine Immersion Technologies BMNR | United States | $11.3B | -15% | +1,022% | -485% | 25.9× | n/a | n/a |
| Hyperliquid Strategies PURR | United States | $2.45B | +104% | n/a | -60% | 24.0× | n/a | n/a |
| Bure Equity BURE.ST | Sweden | $2.30B | +12% | -3% | 2,018% | n/a | n/a | n/a |
Main Street Capital has 4 bonds outstanding with $1.80B face value. The agencies rate it BBB-; its bonds trade like BB. Weighted yield 6.23%, a spread of 172 bp over government bonds.