Main Street Capital Corp
MAIN
ISIN null / Valor 3458666
Main Street Capital Corp
UMushroom community rating:
About company
Main Street Capital Corp is a principal investment firm based in Houston, Texas, that offers long-term debt and equity capital to lower middle market companies with annual revenues between $10 million and $150 million, as well as debt capital to larger middle market companies. Through their two business segments, Main Street provides tailored capital solutions to help businesses realize their full potential and generate wealth for their owners. With over 20 years of experience, Main Street has a proven track record of partnering with companies across various industries and regions, offering flexible private equity and debt capital solutions such as management buyouts, recapitalizations, growth financings, and acquisitions. They differentiate themselves from traditional Wall Street firms by building relationships and customizing transactions to meet the unique needs of their portfolio companies and their owners.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (20.11.2025):
Main Street Capital Corporation's third quarter of 2025 results show continued operating strength: Net investment income (NII) of $86.5 million ($0.97/share), distributable net investment income (DNII) of $92.7 million ($1.03/share), net asset value (NAV) of $32.78/share, and a declared regular Q4 2025 monthly dividend plus a $0.30 supplemental dividend paid in Q3. The quarter delivered modest growth in total investment income, strong cost efficiency, and a record NAV per share driven by fair value gains in the lower middle market portfolio.
Net Investment Income
NII for Q3 2025 was $86.5 million, or $0.97 per share, up slightly year-over-year (NII per share +$0.01). NII includes excise tax and NII-related income taxes reported by the company.
Distributable Net Investment Income
DNII for Q3 2025 was $92.7 million, or $1.03 per share (DNII before taxes was $95.7 million, or $1.07 per share). DNII per share was flat vs. Q3 2024.
Total Investment Income & Revenue Mix
Total investment income was $139.8 million, up 2% from Q3 2024. Drivers: dividend income rose 35% (+$8.0M) and fee income rose 74% (+$2.2M), partially offset by a 7% decline in interest income (-$7.3M) driven by lower benchmark rates and some non-accruals.
Net Asset Value (NAV)
NAV was $32.78 per share as of September 30, 2025, up $0.48 (1.5%) vs. June 30, 2025 and up $1.13 (3.6%) vs. December 31, 2024 — a record NAV per share mainly from fair value increases in the lower middle market portfolio.
Dividends
Main Street declared regular monthly dividends totaling $0.765 per share for Q4 2025 ($0.255 per month) — a 4.1% increase versus Q4 2024 regular monthly dividends — and paid a $0.30 per share supplemental dividend in Q3 2025 (its seventeenth consecutive quarterly supplemental dividend).
Profitability & Returns
Net increase in net assets from operations was $123.7 million ($1.38/share). Annualized return on equity was 17.0% for the quarter and 19.0% on a trailing twelve-month basis.
Operating Efficiency & Expenses
Main Street reported an industry-leading Operating Expenses to Assets Ratio of 1.4% (annualized) for the quarter and 1.3% for the trailing twelve months. Total cash expenses rose slightly to $44.1 million (+0.7% YoY), driven by higher cash compensation, while interest expense decreased about $1.0 million.
Investment Activity & Portfolio Movements
Completed $106.2 million of lower middle market (LMM) investments in Q3 (including $69.0M in three new LMM companies) resulting in a net increase of $61.3M in LMM cost basis. Completed $113.3 million in private loan investments but net cost basis in that portfolio decreased by $68.8M; middle market portfolio cost basis decreased by $14.8M.
Capital & Liquidity
Further diversified capital by issuing $350.0 million of 5.40% unsecured notes due August 15, 2028. Management highlighted strong liquidity, conservative leverage, and continued lender support as positive for navigating the current environment.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
5391 M
Market cap (USD)
2,329,728
Daily traded volume (Shares)
58.2 / 57.41
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
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