MAIN
Main Street Capital Corporation
Asset Management
Market Cap$5.13B
5Y Perf.+83.8%
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Stock Comparison
MAIN vs HTGC
Revenue, margins, valuation, and 5-year total return — side by side.
HTGC
Hercules Capital, Inc.
Asset Management
Market Cap$3.02B
5Y Perf.+47.6%
MAIN vs HTGC — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | MAIN | HTGC |
|---|---|---|
| Industry | Asset Management | Asset Management |
| Market Cap | $5.13B | $3.02B |
| Revenue (TTM) | $725M | $547M |
| Net Income (TTM) | $537M | $289M |
| Gross Margin | 83.0% | 87.2% |
| Operating Margin | 74.3% | 66.7% |
| Forward P/E | 14.2x | 8.4x |
| Total Debt | $2.12B | $2.30B |
| Cash & Equiv. | $78M | $57M |
MAIN vs HTGC — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
MAIN
HTGC
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Main Street Capital… (MAIN) | 100 | 183.8 | +83.8% |
| Hercules Capital, I… (HTGC) | 100 | 147.6 | +47.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: MAIN vs HTGC
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: MAIN leads in 4 of 7 categories, making it the strongest pick for profitability and margin quality and dividend income and shareholder returns. Hercules Capital, Inc. is the stronger pick specifically for growth and revenue expansion and valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
MAIN
Main Street Capital Corporation
The Banking Pick
MAIN carries the broadest edge in this set and is the clearest fit for long-term compounding and sleep-well-at-night.
- 182.8% 10Y total return vs HTGC's 173.0%
- Lower volatility, beta 0.87, Low D/E 75.9%, current ratio 3.88x
- Efficiency ratio 0.1% vs HTGC's 0.2% (lower = leaner)
Best for: long-term compounding and sleep-well-at-night
HTGC
Hercules Capital, Inc.
The Banking Pick
HTGC is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 0 yrs, beta 0.69, yield 8.6%
- Rev growth 27.0%, EPS growth 14.9%
- Beta 0.69, yield 8.6%, current ratio 1.44x
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | HTGC | 27.0% NII/revenue growth vs MAIN's 18.3% |
| Value | HTGC | Lower P/E (8.4x vs 14.2x) |
| Quality / Margins | MAIN | Efficiency ratio 0.1% vs HTGC's 0.2% (lower = leaner) |
| Stability / Safety | HTGC | Beta 0.69 vs MAIN's 0.87 |
| Dividends | MAIN | 6.3% yield, 4-year raise streak, vs HTGC's 8.6% |
| Momentum (1Y) | MAIN | +16.3% vs HTGC's +5.7% |
| Efficiency (ROA) | MAIN | Efficiency ratio 0.1% vs HTGC's 0.2% |
MAIN vs HTGC — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLMAINLAGGINGHTGC
HTGCHercules Capital, Inc.
1leads
MAINMain Street Capital C…
3leads
6 Total Categories
CATEGORYLEADERvs HTGCMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
MAIN4/5
Valuation MetricsMultiples, price ratios, and targets
HTGC4/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
MAIN7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
MAIN6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
MAIN leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
MAIN and HTGC operate at a comparable scale, with $725M and $547M in trailing revenue. MAIN is the more profitable business, keeping 70.1% of every revenue dollar as net income compared to HTGC's 62.1%.
| Metric | MAINMain Street Capit… | HTGCHercules Capital,… |
|---|---|---|
| RevenueTrailing 12 months | $725M | $547M |
| EBITDAEarnings before interest/tax | $555M | $381M |
| Net IncomeAfter-tax profit | $537M | $289M |
| Free Cash FlowCash after capex | $396M | -$352M |
| Gross MarginGross profit ÷ Revenue | +83.0% | +87.2% |
| Operating MarginEBIT ÷ Revenue | +74.3% | +66.7% |
| Net MarginNet income ÷ Revenue | +70.1% | +62.1% |
| FCF MarginFCF ÷ Revenue | -12.0% | -77.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -2.8% | -20.7% |
MAIN leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
HTGC leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
At 8.9x trailing earnings, HTGC trades at a 9% valuation discount to MAIN's 9.8x P/E. On an enterprise value basis, MAIN's 13.3x EV/EBITDA is more attractive than HTGC's 14.4x.
| Metric | MAINMain Street Capit… | HTGCHercules Capital,… |
|---|---|---|
| Market CapShares × price | $5.1B | $3.0B |
| Enterprise ValueMkt cap + debt − cash | $7.2B | $5.3B |
| Trailing P/EPrice ÷ TTM EPS | 9.80x | 8.89x |
| Forward P/EPrice ÷ next-FY EPS est. | 14.18x | 8.43x |
| PEG RatioP/E ÷ EPS growth rate | 0.42x | — |
| EV / EBITDAEnterprise value multiple | 13.32x | 14.41x |
| Price / SalesMarket cap ÷ Revenue | 7.08x | 5.52x |
| Price / BookPrice ÷ Book value/share | 1.81x | 1.45x |
| Price / FCFMarket cap ÷ FCF | — | — |
HTGC leads this category, winning 4 of 5 comparable metrics.
Profitability & Efficiency
MAIN leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
MAIN delivers a 18.3% return on equity — every $100 of shareholder capital generates $18 in annual profit, vs $13 for HTGC. MAIN carries lower financial leverage with a 0.76x debt-to-equity ratio, signaling a more conservative balance sheet compared to HTGC's 1.04x. On the Piotroski fundamental quality scale (0–9), HTGC scores 5/9 vs MAIN's 3/9, reflecting solid financial health.
| Metric | MAINMain Street Capit… | HTGCHercules Capital,… |
|---|---|---|
| ROE (TTM)Return on equity | +18.3% | +13.2% |
| ROA (TTM)Return on assets | +10.2% | +6.4% |
| ROICReturn on invested capital | +8.8% | +6.6% |
| ROCEReturn on capital employed | +11.4% | +8.8% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 |
| Debt / EquityFinancial leverage | 0.76x | 1.04x |
| Net DebtTotal debt minus cash | $2.0B | $2.2B |
| Cash & Equiv.Liquid assets | $78M | $57M |
| Total DebtShort + long-term debt | $2.1B | $2.3B |
| Interest CoverageEBIT ÷ Interest expense | 4.26x | 4.34x |
MAIN leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
MAIN leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in MAIN five years ago would be worth $18,086 today (with dividends reinvested), compared to $14,806 for HTGC. Over the past 12 months, MAIN leads with a +16.3% total return vs HTGC's +5.7%. The 3-year compound annual growth rate (CAGR) favors MAIN at 19.0% vs HTGC's 18.0% — a key indicator of consistent wealth creation.
| Metric | MAINMain Street Capit… | HTGCHercules Capital,… |
|---|---|---|
| YTD ReturnYear-to-date | -5.0% | -10.3% |
| 1-Year ReturnPast 12 months | +16.3% | +5.7% |
| 3-Year ReturnCumulative with dividends | +68.6% | +64.2% |
| 5-Year ReturnCumulative with dividends | +80.9% | +48.1% |
| 10-Year ReturnCumulative with dividends | +182.8% | +173.0% |
| CAGR (3Y)Annualised 3-year return | +19.0% | +18.0% |
MAIN leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — MAIN and HTGC each lead in 1 of 2 comparable metrics.
Risk & Volatility
HTGC is the less volatile stock with a 0.69 beta — it tends to amplify market swings less than MAIN's 0.87 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | MAINMain Street Capit… | HTGCHercules Capital,… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.87x | 0.69x |
| 52-Week HighHighest price in past year | $67.77 | $19.67 |
| 52-Week LowLowest price in past year | $50.77 | $13.70 |
| % of 52W HighCurrent price vs 52-week peak | +84.6% | +83.6% |
| RSI (14)Momentum oscillator 0–100 | 59.5 | 67.7 |
| Avg Volume (50D)Average daily shares traded | 806K | 2.5M |
Evenly matched — MAIN and HTGC each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — MAIN and HTGC each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates MAIN as "Hold" and HTGC as "Buy". Consensus price targets imply 16.9% upside for MAIN (target: $67) vs 15.1% for HTGC (target: $19). For income investors, HTGC offers the higher dividend yield at 8.62% vs MAIN's 6.31%.
| Metric | MAINMain Street Capit… | HTGCHercules Capital,… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $67.00 | $18.92 |
| # AnalystsCovering analysts | 14 | 31 |
| Dividend YieldAnnual dividend ÷ price | +6.3% | +8.6% |
| Dividend StreakConsecutive years of raises | 4 | 0 |
| Dividend / ShareAnnual DPS | $3.62 | $1.42 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.1% | +0.2% |
Evenly matched — MAIN and HTGC each lead in 1 of 2 comparable metrics.
Key Takeaway
MAIN leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). HTGC leads in 1 (Valuation Metrics). 2 tied.
Best OverallMain Street Capital Corpora… (MAIN)Leads 3 of 6 categories
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MAIN vs HTGC: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is MAIN or HTGC a better buy right now?
For growth investors, Hercules Capital, Inc.
(HTGC) is the stronger pick with 27. 0% revenue growth year-over-year, versus 18. 3% for Main Street Capital Corporation (MAIN). Hercules Capital, Inc. (HTGC) offers the better valuation at 8. 9x trailing P/E (8. 4x forward), making it the more compelling value choice. Analysts rate Hercules Capital, Inc. (HTGC) a "Buy" — based on 31 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MAIN or HTGC?
On trailing P/E, Hercules Capital, Inc.
(HTGC) is the cheapest at 8. 9x versus Main Street Capital Corporation at 9. 8x. On forward P/E, Hercules Capital, Inc. is actually cheaper at 8. 4x.
03Which is the better long-term investment — MAIN or HTGC?
Over the past 5 years, Main Street Capital Corporation (MAIN) delivered a total return of +80.
9%, compared to +48. 1% for Hercules Capital, Inc. (HTGC). Over 10 years, the gap is even starker: MAIN returned +182. 8% versus HTGC's +173. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MAIN or HTGC?
By beta (market sensitivity over 5 years), Hercules Capital, Inc.
(HTGC) is the lower-risk stock at 0. 69β versus Main Street Capital Corporation's 0. 87β — meaning MAIN is approximately 26% more volatile than HTGC relative to the S&P 500. On balance sheet safety, Main Street Capital Corporation (MAIN) carries a lower debt/equity ratio of 76% versus 104% for Hercules Capital, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — MAIN or HTGC?
By revenue growth (latest reported year), Hercules Capital, Inc.
(HTGC) is pulling ahead at 27. 0% versus 18. 3% for Main Street Capital Corporation (MAIN). On earnings-per-share growth, the picture is similar: Hercules Capital, Inc. grew EPS 14. 9% year-over-year, compared to 11. 9% for Main Street Capital Corporation. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — MAIN or HTGC?
Main Street Capital Corporation (MAIN) is the more profitable company, earning 70.
1% net margin versus 62. 1% for Hercules Capital, Inc. — meaning it keeps 70. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MAIN leads at 74. 3% versus 66. 7% for HTGC. At the gross margin level — before operating expenses — HTGC leads at 87. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is MAIN or HTGC more undervalued right now?
On forward earnings alone, Hercules Capital, Inc.
(HTGC) trades at 8. 4x forward P/E versus 14. 2x for Main Street Capital Corporation — 5. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MAIN: 16. 9% to $67. 00.
08Which pays a better dividend — MAIN or HTGC?
All stocks in this comparison pay dividends.
Hercules Capital, Inc. (HTGC) offers the highest yield at 8. 6%, versus 6. 3% for Main Street Capital Corporation (MAIN).
09Is MAIN or HTGC better for a retirement portfolio?
For long-horizon retirement investors, Hercules Capital, Inc.
(HTGC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 69), 8. 6% yield, +173. 0% 10Y return). Both have compounded well over 10 years (HTGC: +173. 0%, MAIN: +182. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between MAIN and HTGC?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(MAIN: 18.3% · HTGC: 27.0%)Net Margin>
%
(MAIN: 70.1% · HTGC: 62.1%)P/E Ratio<
x
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