Main Street Capital Corporation (MAIN) Financial Ratios
19 years of historical data (2006–2024) · Financial Services · Asset Management
EV/EBITDA
↓
13.33
↓-75% vs avg
5yr avg: 52.86
30Y Low9.1·High28.8
P/FCF
N/A
—
5yr avg: 12.41
30Y Low8.1·High30.9
P/B Ratio
↑
1.82
+18% vs avg
5yr avg: 1.54
30Y Low0.8·High1.9
ROE
↑
19.3%
↓+33% vs avg
5yr avg: 14.5%
30Y Low2%·High37%
Debt/EBITDA
↓
3.94
↓-80% vs avg
5yr avg: 19.34
30Y Low2.4·High8.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MAIN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Main Street Capital Corporation trades at 9.8x earnings, 56% below its 5-year average of 22.1x, sitting at the 33rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.3x, the stock trades at a discount of 26%.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.1B | $5.2B | $3.5B | $2.8B | $3.1B | $2.1B | $2.7B | $2.0B | $2.3B | $1.9B | $1.4B |
| Enterprise Value | $7.2B | $7.2B | $5.3B | $4.7B | $4.9B | $3.3B | $3.8B | $3.0B | $3.0B | $2.7B | $2.2B |
| P/E Ratio → | 9.81 | 10.01 | 8.27 | 11.40 | 9.35 | 71.69 | 20.93 | 12.08 | 13.20 | 13.77 | 13.65 |
| P/S Ratio | 7.09 | 7.16 | 5.78 | 6.94 | 6.58 | 21.07 | 12.45 | 8.05 | 8.52 | 9.51 | 9.26 |
| P/B Ratio | 1.82 | 1.85 | 1.43 | 1.31 | 1.73 | 1.40 | 1.77 | 1.38 | 1.63 | 1.59 | 1.33 |
| P/FCF | — | — | 12.41 | — | — | — | — | — | 30.90 | — | — |
| P/OCF | — | — | 12.41 | — | — | — | — | — | 30.90 | — | — |
P/E links to full P/E history page with 30-year chart
MAIN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Main Street Capital Corporation's enterprise value stands at 13.3x EBITDA, 75% below its 5-year average of 52.9x. The Financial Services sector median is 11.4x, placing the stock at a 17% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.98 | 8.63 | 11.86 | 10.33 | 32.77 | 17.30 | 11.78 | 11.34 | 13.57 | 14.19 |
| EV / EBITDA | 13.33 | 13.42 | 11.71 | 17.75 | 13.36 | 208.08 | 28.84 | 17.07 | 15.37 | 19.82 | 22.84 |
| EV / EBIT | 13.33 | 13.42 | 11.71 | 17.75 | 13.36 | 208.08 | 28.84 | 17.07 | 15.37 | 19.82 | 22.84 |
| EV / FCF | — | — | 18.52 | — | — | — | — | — | 41.12 | — | — |
MAIN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Main Street Capital Corporation earns an operating margin of 74.3%, significantly above the Financial Services sector average of 21.4%. Operating margins have expanded from 66.8% to 74.3% over the past 3 years, signaling improving operational efficiency. ROE of 19.3% indicates solid capital efficiency, compared to the sector median of 9.5%. ROIC of 8.8% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.0% | 83.0% | 83.3% | 80.3% | 87.5% | 50.7% | 77.0% | 82.8% | 86.2% | 83.3% | 79.2% |
| Operating Margin | 74.3% | 74.3% | 73.7% | 66.8% | 77.4% | 15.7% | 60.0% | 69.0% | 73.8% | 68.4% | 62.1% |
| Net Profit Margin | 70.1% | 70.1% | 70.0% | 60.9% | 70.4% | 29.2% | 59.4% | 66.6% | 64.5% | 69.1% | 67.8% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.3% | 19.3% | 18.7% | 12.4% | 20.0% | 1.9% | 8.6% | 11.8% | 13.2% | 12.2% | 10.4% |
| ROA | 10.6% | 10.6% | 9.9% | 6.1% | 10.2% | 1.1% | 4.9% | 7.0% | 7.9% | 7.0% | 5.8% |
| ROIC | 8.8% | 8.8% | 8.1% | 5.2% | 8.6% | 0.4% | 3.8% | 5.6% | 6.9% | 5.3% | 4.1% |
| ROCE | 11.4% | 11.4% | 10.5% | 6.7% | 11.4% | 0.6% | 5.0% | 7.4% | 9.2% | 7.0% | 5.4% |
MAIN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Main Street Capital Corporation carries a Debt/EBITDA ratio of 3.9x, which is moderately leveraged (roughly in line with the sector average of 4.1x). Net debt stands at $2.0B ($2.1B total debt minus $78M cash). Interest coverage of 4.4x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.76 | 0.76 | 0.73 | 0.95 | 1.00 | 0.80 | 0.73 | 0.67 | 0.58 | 0.70 | 0.73 |
| Debt / EBITDA | 3.94 | 3.94 | 4.00 | 7.55 | 4.94 | 76.29 | 8.52 | 5.71 | 4.09 | 6.10 | 8.15 |
| Net Debt / Equity | — | 0.73 | 0.70 | 0.92 | 0.99 | 0.78 | 0.69 | 0.64 | 0.54 | 0.68 | 0.71 |
| Net Debt / EBITDA | 3.79 | 3.79 | 3.86 | 7.36 | 4.85 | 74.28 | 8.09 | 5.40 | 3.82 | 5.93 | 7.94 |
| Debt / FCF | — | — | 6.11 | — | — | — | — | — | 10.23 | — | — |
| Interest Coverage | 4.36 | 4.36 | 4.40 | 3.38 | 6.18 | 0.32 | 2.60 | 4.01 | 5.35 | 4.09 | 2.98 |
MAIN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Main Street Capital Corporation's current ratio of 3.88x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.45x to 3.88x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.88 | 3.88 | 4.00 | 1.45 | 1.93 | 1.42 | 5.16 | 1.20 | 0.94 | 1.62 | 1.97 |
| Quick Ratio | 3.88 | 3.88 | 4.00 | 1.45 | 1.93 | 1.42 | 5.16 | 1.20 | 0.94 | 1.62 | 1.97 |
| Cash Ratio | 1.72 | 1.72 | 1.61 | 1.43 | 0.93 | 1.42 | 2.70 | 1.17 | 0.90 | 1.50 | 1.33 |
| Asset Turnover | — | 0.14 | 0.14 | 0.09 | 0.13 | 0.04 | 0.08 | 0.10 | 0.12 | 0.10 | 0.08 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
MAIN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Main Street Capital Corporation returns 6.5% to shareholders annually — split between a 6.3% dividend yield and 0.1% buyback yield. A payout ratio of 63.1% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 10.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.3% | 6.2% | 7.7% | 7.1% | 5.2% | 6.8% | 6.1% | 7.7% | 6.6% | 6.7% | 7.8% |
| Payout Ratio | 63.1% | 63.1% | 63.4% | 80.4% | 48.5% | 491.7% | 126.8% | 92.8% | 87.0% | 91.8% | 106.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.2% | 10.0% | 12.1% | 8.8% | 10.7% | 1.4% | 4.8% | 8.3% | 7.6% | 7.3% | 7.3% |
| FCF Yield | — | — | 8.1% | — | — | — | — | — | 3.2% | — | — |
| Buyback Yield | 0.1% | 0.1% | 0.2% | 0.0% | 0.0% | 0.1% | 0.0% | 0.2% | 0.2% | 0.1% | 0.1% |
| Total Shareholder Yield | 6.5% | 6.3% | 7.8% | 7.1% | 5.2% | 6.9% | 6.1% | 7.9% | 6.8% | 6.8% | 7.9% |
| Shares Outstanding | — | $89M | $82M | $74M | $69M | $66M | $63M | $60M | $57M | $52M | $49M |
Peer Comparison
Compare MAIN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MAINYou | $5B | 9.8 | 13.3 | — | 83.0% | 74.3% | 19.3% | 8.8% | 3.9 |
 ARCC | $14B | 10.4 | 13.2 | 12.2 | 75.7% | 69.7% | 9.4% | 5.7% | 7.3 |
 GBDC | $4B | 9.4 | 12.2 | — | 81.5% | 78.9% | 9.4% | 5.9% | 7.1 |
 HTGC | $3B | 9.0 | 14.5 | — | 87.2% | 66.7% | 16.2% | 6.6% | 6.3 |
 TPVG | $222M | 4.5 | 8.9 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 CSWC | $1B | 16.5 | 27.6 | — | 66.5% | 48.5% | 8.6% | 3.5% | 11.2 |
 SLRC | $871M | 9.4 | 12.2 | — | 73.3% | 72.9% | 9.3% | 5.8% | 7.0 |
 FSK | $3B | 292.6 | 21.9 | 5.4 | 69.6% | 49.5% | 0.2% | 3.2% | 15.7 |
 OBDC | $6B | 9.6 | — | 3.5 | — | — | 12.0% | — | — |
 PSEC | $1B | -2.0 | — | 7.3 | 147.0% | 169.8% | -14.0% | -6.3% | — |
 NMFC | $828M | 60.1 | 8.0 | 2.2 | 83.6% | 38.0% | 1.3% | 3.5% | 5.5 |
| Financial Services Median | — | 13.3 | 11.4 | 10.6 | 62.9% | 21.4% | 9.5% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 19 years · Updated daily
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Start ComparisonMAIN — Frequently Asked Questions
Quick answers to the most common questions about buying MAIN stock.
What is Main Street Capital Corporation's P/E ratio?
Main Street Capital Corporation's current P/E ratio is 9.8x. The historical average is 16.8x. This places it at the 33th percentile of its historical range.
What is Main Street Capital Corporation's EV/EBITDA?
Main Street Capital Corporation's current EV/EBITDA is 13.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.5x.
What is Main Street Capital Corporation's ROE?
Main Street Capital Corporation's return on equity (ROE) is 19.3%. The historical average is 14.2%.
Is MAIN stock overvalued?
Based on historical data, Main Street Capital Corporation is trading at a P/E of 9.8x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Main Street Capital Corporation's dividend yield?
Main Street Capital Corporation's current dividend yield is 6.31% with a payout ratio of 63.1%.
What are Main Street Capital Corporation's profit margins?
Main Street Capital Corporation has 83.0% gross margin and 74.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Main Street Capital Corporation have?
Main Street Capital Corporation's Debt/EBITDA ratio is 3.9x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.