Main Street Capital Corporation (MAIN) Key Metrics
MAIN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $5.03B
- Enterprise value
- $7.52B
- P/E (TTM)
- 10.8 10-yr median 11.7
- Forward P/E
- 13.4
- PEG ratio
- 1.76
- Price / sales
- 8.8 10-yr median 8.3
- Price / book
- 1.5 10-yr median 1.6
- EV / EBITDA
- 15.5 10-yr median 14.8
- Dividend yield
- 5.91% $3.18 a year
- Beta
- 0.75
MAIN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMAIN valuation Price multiples at each fiscal year-end price.
MAIN returns How much profit the business earns on the capital it uses.
MAIN per-share figures Results divided by the shares outstanding at year-end.
MAIN financial health Debt, liquidity and how easily interest is covered.
MAIN efficiency & capital use Working capital cycle and where the cash goes.
MAIN valuation history
MAIN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MAIN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MAIN cash returned to shareholders
MAIN price vs earnings per share
MAIN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $5.40B | $5.19B | $3.54B | $2.75B | $3.09B | $2.12B | $2.71B | $2.03B | $2.25B | $1.91B |
| Enterprise value | $7.81B | $7.23B | $5.28B | $4.70B | $4.86B | $3.30B | $3.82B | $3.17B | $3.00B | $2.74B |
| P/E ratio | 10.9 | 10.2 | 8.3 | 11.4 | 9.4 | 72.1 | 20.9 | 12.1 | 13.2 | 13.8 |
| Price / sales | 8.4 | 7.2 | 5.8 | 8.3 | 7.5 | 9.5 | 16.2 | 8.1 | 8.5 | 9.5 |
| Price / book | 1.8 | 1.9 | 1.4 | 1.3 | 1.7 | 1.4 | 1.8 | 1.4 | 1.6 | 1.6 |
| Price / free cash flow | 15.5 | — | 12.4 | — | — | — | — | — | 30.9 | — |
| Price / operating cash flow | 15.5 | — | 12.4 | — | — | — | — | — | 30.9 | — |
| EV / sales | 12.1 | 10.0 | 8.6 | 14.2 | 11.8 | 14.8 | 22.7 | 12.5 | 11.3 | 13.6 |
| EV / EBITDA | 14.8 | 13.3 | 11.6 | 14.8 | 5.8 | 208.1 | 10.7 | 17.8 | 15.2 | 18.8 |
| EV / free cash flow | 22.5 | — | 18.5 | — | — | — | — | — | 41.1 | — |
| Earnings yield | 9.1% | 9.8% | 12.1% | 8.8% | 10.7% | 1.4% | 4.8% | 8.3% | 7.6% | 7.3% |
| Free cash flow yield | 6.4% | −1.7% | 8.1% | −9.0% | −16.7% | −2.6% | −1.2% | −5.4% | 3.2% | −2.2% |
| Dividend yield | 6.3% | 6.2% | 7.7% | 7.1% | 5.2% | 6.8% | 6.1% | 7.7% | 6.6% | 6.7% |
| Shareholder yield (dividends + buybacks) | 6.5% | 6.3% | 7.8% | 7.2% | 5.2% | 6.8% | 6.1% | 7.9% | 6.8% | 6.8% |
| Share price at fiscal year-end | $60.39 | $58.58 | $43.23 | $36.95 | $44.86 | $32.26 | $43.11 | $33.81 | $39.73 | $36.77 |
| Per share | ||||||||||
| Revenue per share | $7.21 | $8.18 | $7.48 | $4.45 | $5.96 | $3.39 | $2.67 | $4.20 | $4.67 | $3.87 |
| Earnings per share | $5.52 | $5.74 | $5.23 | $3.24 | $4.80 | $0.45 | $2.06 | $2.80 | $3.01 | $2.67 |
| Operating cash flow per share | $3.89 | −$0.98 | $3.48 | −$3.32 | −$7.47 | −$0.82 | −$0.54 | −$1.81 | $1.29 | −$0.82 |
| Free cash flow per share | $3.89 | −$0.98 | $3.48 | −$3.32 | −$7.47 | −$0.82 | −$0.54 | −$1.81 | $1.29 | −$0.82 |
| Cash per share | $0.47 | $0.88 | $0.73 | $0.66 | $0.47 | $0.49 | $0.88 | $0.90 | $0.91 | $0.47 |
| Book value per share | $33.50 | $31.59 | $30.24 | $28.31 | $25.94 | $23.05 | $24.40 | $24.53 | $24.35 | $23.09 |
| Tangible book value per share | $33.50 | $31.59 | $29.47 | −$26.05 | −$24.96 | −$16.91 | −$16.14 | $24.53 | $24.35 | $23.09 |
| Dividends per share | $3.80 | $3.62 | $3.32 | $2.61 | $2.33 | $2.20 | $2.61 | $2.59 | $2.62 | $2.45 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $27.50 | $23.97 | $22.00 | $26.84 | $26.04 | $18.39 | $18.37 | $19.73 | $14.06 | $16.30 |
| Shares outstanding | 89.4M | 88.6M | 81.9M | 74.5M | 69.0M | 65.7M | 63.0M | 60.2M | 56.7M | 52.0M |
| Change in shares outstanding | +0.9% | +8.1% | +10.0% | +8.0% | +5.0% | +4.4% | +4.6% | +6.1% | +9.0% | +6.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 17.0% | 19.3% | 18.7% | 12.4% | 20.0% | 1.9% | 8.6% | 11.8% | 13.2% | 12.2% |
| Return on invested capital (ROIC) | 9.6% | 11.2% | 10.4% | 8.2% | 10.6% | 0.6% | 4.9% | 7.1% | 8.2% | 7.1% |
| Return on assets (ROA) | 9.1% | 10.6% | 9.9% | 6.1% | 10.2% | 1.1% | 4.9% | 7.0% | 7.9% | 7.0% |
| Return on tangible assets | 8.6% | 9.9% | 9.8% | 125.2% | 183.3% | 20.5% | 81.5% | 6.6% | 7.5% | 6.7% |
| Free cash flow margin | 53.9% | −12.0% | 46.6% | −74.6% | −125.3% | −24.3% | −20.2% | −43.2% | 27.6% | −21.2% |
| Income quality (OCF / net income) | 0.70 | −0.17 | 0.67 | −1.02 | −1.56 | −1.84 | −0.26 | −0.65 | 0.43 | −0.31 |
| Financial health | ||||||||||
| Total debt | $2.46B | $2.12B | $1.80B | $2.00B | $1.80B | $1.21B | $1.16B | $1.19B | $797.2M | $848.3M |
| Cash & short-term investments | $42.0M | $78.3M | $60.1M | $49.1M | $32.6M | $31.9M | $55.2M | $54.2M | $51.5M | $24.5M |
| Net debt | $2.42B | $2.04B | $1.74B | $1.95B | $1.76B | $1.18B | $1.10B | $1.13B | $745.6M | $823.8M |
| Debt / equity | 0.82 | 0.76 | 0.73 | 0.95 | 1.00 | 0.80 | 0.75 | 0.80 | 0.58 | 0.71 |
| Debt / assets | 0.43 | 0.41 | 0.41 | 0.47 | 0.49 | 0.44 | 0.43 | 0.46 | 0.35 | 0.41 |
| Net debt / EBITDA | 4.59 | 3.76 | 3.83 | 6.12 | 2.09 | 74.28 | 3.10 | 6.38 | 3.77 | 5.67 |
| Current ratio | 449.84 | 3.88 | 4.00 | 1.45 | 1.93 | 1.42 | 2.35 | 0.64 | 0.50 | 1.22 |
| Quick ratio | 449.84 | 3.88 | 4.00 | −2.47 | −0.06 | 0.00 | 1.12 | 0.64 | 0.50 | 1.22 |
| Interest coverage | 4.1 | 4.4 | 4.4 | 4.4 | 6.2 | 0.3 | 2.6 | 4.0 | 5.3 | 4.1 |
| Working capital | $539.5M | $130.9M | $112.0M | $15.2M | $32.6M | $9.4M | $60.7M | −$23.3M | −$38.6M | $6.6M |
| Invested capital | $5.41B | $4.84B | $4.22B | $4.06B | $3.55B | $2.69B | $2.64B | $2.61B | $2.13B | $2.03B |
| Tangible asset value | $2.99B | $2.80B | $2.41B | −$1.94B | −$1.72B | −$1.11B | −$1.02B | $1.48B | $1.38B | $1.20B |
| Net current asset value | −$2.18B | −$2.15B | −$1.82B | −$2.08B | −$1.83B | −$1.22B | −$1.07B | −$1.04B | −$846.3M | −$841.7M |
| Graham number | $64.51 | $63.86 | $59.66 | $45.46 | $52.91 | $15.23 | $33.61 | $39.28 | $40.61 | $37.25 |
| Graham net-net per share | −$29.06 | −$24.52 | −$22.45 | −$27.08 | −$26.21 | −$17.80 | −$16.75 | −$16.49 | −$14.19 | −$15.89 |
| Capital allocation | ||||||||||
| Dividends paid | $339.3M | $320.4M | $271.6M | $194.2M | $160.5M | $144.5M | $164.3M | $156.0M | $148.4M | $127.5M |
| Share buybacks (net) | $10.3M | $7.3M | $6.0M | $4.9M | $0 | $0 | $0 | $4.1M | $4.4M | $2.6M |
| Dividend payout ratio | 68.8% | 63.1% | 63.4% | 80.4% | 48.5% | 491.7% | 126.8% | 92.8% | 87.0% | 91.8% |
| Dividends + buybacks / free cash flow | 100.6% | — | 97.3% | — | — | — | — | — | 209.6% | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / operating cash flow | 0.0% | — | 0.0% | — | — | — | — | — | 0.0% | — |
| Capex / depreciation | 0.00 | 0.00 | 0.00 | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock-based compensation / revenue | 3.3% | 2.6% | 2.7% | 4.1% | 2.6% | 4.9% | 6.0% | 3.6% | 3.8% | 4.1% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 11.4% | 0.5% | 9.6% | 20.0% | 11.6% | 2.4% | 3.5% | 2.0% | 2.0% | 2.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 58.3 | 47.2 | 26.7 | 19.6 | 37.7 | 82.2 | 99.3 | 57.5 | 52.3 | 67.8 |
| Days of inventory on hand | — | — | — | 475.4 | 315.4 | 320.8 | 401.2 | — | — | — |
| Days payables outstanding | — | 122.4 | 127.5 | 161.9 | 179.1 | 248.6 | 396.5 | 593.8 | 539.5 | 315.7 |
| Cash conversion cycle (days) | — | -75.2 | -100.7 | 333.0 | 173.9 | 154.4 | 104.0 | -536.3 | -487.2 | -247.9 |
| Receivables turnover | 6.26 | 7.73 | 13.65 | 18.65 | 9.69 | 4.44 | 3.67 | 6.35 | 6.97 | 5.38 |
| Payables turnover | 0.00 | 2.98 | 2.86 | 2.25 | 2.04 | 1.47 | 0.92 | 0.61 | 0.68 | 1.16 |
| Inventory turnover | — | — | — | 0.77 | 1.16 | 1.14 | 0.91 | — | — | — |
| Asset turnover | 0.12 | 0.15 | 0.14 | 0.08 | 0.13 | 0.08 | 0.06 | 0.10 | 0.12 | 0.10 |
| Average receivables | $103.0M | $93.7M | $44.9M | $17.8M | $42.4M | $50.1M | $45.7M | $39.8M | $37.9M | $37.4M |
| Average payables | $49.4M | $41.4M | $35.8M | $34.7M | $28.9M | $33.8M | $54.6M | $70.8M | $53.9M | $29.1M |
| Average inventory | — | — | — | $101.9M | $50.8M | $43.6M | $55.2M | — | — | $0 |
| Intangibles / total assets | 0.0% | 0.0% | 1.4% | 95.4% | 95.1% | 94.8% | 94.1% | 0.0% | 0.0% | 0.0% |
Computed from MAIN's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MAIN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Main Street Capital traded at 10.9 times earnings, against a 10-year median of 11.7. Based on the latest twelve months, the trailing P/E is 10.8 and the forward P/E is 13.4. Main Street Capital earned a return on equity of 17.0% and a return on invested capital of 9.6% in fiscal 2025. It ended the year with $2.5 billion of debt and $42.0 million in cash and short-term investments, net debt of $2.4 billion. It returned $349.6 million to shareholders: $339.3 million in dividends and $10.3 million in share buybacks, 101% of free cash flow. The share count rose 71.8% from 52.0M to 89.4M over 9 years.
See the MAIN income statement, the MAIN chart for price history, or the MAIN stock overview for the latest quote and news.
MAIN key metrics FAQ
What is Main Street Capital's P/E ratio?
Main Street Capital's trailing P/E ratio is 10.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 13.4. At the end of fiscal 2025 it was 10.9, compared with a 10-year median of 11.7.
What is Main Street Capital's EV/EBITDA?
Main Street Capital's enterprise value was 14.8 times EBITDA at the end of fiscal 2025 (enterprise value $7.8 billion, EBITDA $526.7 million); the current EV/EBITDA is 15.5.
What is Main Street Capital's return on equity?
Main Street Capital's return on equity (ROE) was 17.0% in fiscal 2025: net income of $493.4 million on average shareholders' equity of $2.9 billion.
What is Main Street Capital's ROIC?
Main Street Capital's return on invested capital was 9.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Main Street Capital have?
Main Street Capital had total debt of $2.5 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.82 and $2.4 billion of net debt (4.59 times EBITDA).
What is Main Street Capital's dividend yield?
Main Street Capital's forward dividend yield is 5.91%. Main Street Capital paid $339.3 million in dividends in fiscal 2025 ($3.80 per share), a payout ratio of 68.8%.
Does Main Street Capital buy back its shares?
Yes. Main Street Capital spent $10.3 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.9% over the year, to 89.4M..
What is Main Street Capital's free cash flow yield?
Main Street Capital generated $347.4 million of free cash flow in fiscal 2025, a free cash flow yield of 6.4% on its market value at year-end ($5.4 billion).
What is Main Street Capital's current ratio?
Main Street Capital's current ratio was 449.84 at the end of fiscal 2025: current assets were 449.84 times current liabilities.