MAIN STREET CAPITAL CORP (MAIN)
US56035L1044 - Common Stock
MAIN gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 206 industry peers in the Capital Markets industry. Both the profitability and the financial health of MAIN get a neutral evaluation. Nothing too spectacular is happening here. MAIN is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year MAIN was profitable.
In the past year MAIN had a positive cash flow from operations.
MAIN had positive earnings in each of the past 5 years.
MAIN had a negative operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 8.86%, MAIN belongs to the top of the industry, outperforming 85.22% of the companies in the same industry.
With a decent Return On Equity value of 16.69%, MAIN is doing good in the industry, outperforming 79.80% of the companies in the same industry.
MAIN's Return On Invested Capital of 6.77% is fine compared to the rest of the industry. MAIN outperforms 74.38% of its industry peers.
The Average Return On Invested Capital over the past 3 years for MAIN is below the industry average of 9.56%.
The last Return On Invested Capital (6.77%) for MAIN is above the 3 year average (4.86%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.86% | ||
| ROE | 16.69% | ||
| ROIC | 6.77% |
ROA(3y)5.24%
ROA(5y)5.42%
ROE(3y)10.63%
ROE(5y)10.34%
ROIC(3y)4.86%
ROIC(5y)5.14%
1.3 Margins
The Profit Margin of MAIN (81.59%) is better than 95.57% of its industry peers.
MAIN's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 66.97%, MAIN belongs to the top of the industry, outperforming 97.04% of the companies in the same industry.
MAIN's Operating Margin has been stable in the last couple of years.
MAIN's Gross Margin of 79.11% is fine compared to the rest of the industry. MAIN outperforms 79.31% of its industry peers.
In the last couple of years the Gross Margin of MAIN has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 66.97% | ||
| PM (TTM) | 81.59% | ||
| GM | 79.11% |
OM growth 3Y0.21%
OM growth 5Y-0.23%
PM growth 3Y6.38%
PM growth 5Y-5.02%
GM growth 3Y-0.05%
GM growth 5Y-0.76%
2. Health
2.1 Basic Checks
MAIN has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, MAIN has more shares outstanding
Compared to 1 year ago, MAIN has an improved debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 1.39, we must say that MAIN is in the distress zone and has some risk of bankruptcy.
MAIN has a Altman-Z score of 1.39. This is in the better half of the industry: MAIN outperforms 60.10% of its industry peers.
MAIN has a debt to FCF ratio of 13.63. This is a negative value and a sign of low solvency as MAIN would need 13.63 years to pay back of all of its debts.
The Debt to FCF ratio of MAIN (13.63) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.82 indicates that MAIN is somewhat dependend on debt financing.
MAIN has a Debt to Equity ratio (0.82) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 13.63 | ||
| Altman-Z | 1.39 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 1.74 indicates that MAIN should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.74, MAIN is in the better half of the industry, outperforming 64.53% of the companies in the same industry.
A Quick Ratio of 1.74 indicates that MAIN should not have too much problems paying its short term obligations.
MAIN has a better Quick ratio (1.74) than 64.53% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.74 | ||
| Quick Ratio | 1.74 |
3. Growth
3.1 Past
MAIN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 33.22%, which is quite impressive.
MAIN shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 6.60% yearly.
The Revenue has grown by 40.50% in the past year. This is a very strong growth!
MAIN shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 12.88% yearly.
EPS 1Y (TTM)33.22%
EPS 3Y9.44%
EPS 5Y6.6%
EPS growth Q2Q19.28%
Revenue 1Y (TTM)40.5%
Revenue growth 3Y15.69%
Revenue growth 5Y12.88%
Revenue growth Q2Q25.2%
3.2 Future
Based on estimates for the next years, MAIN will show a small growth in Earnings Per Share. The EPS will grow by 5.52% on average per year.
MAIN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.40% yearly.
EPS Next Y26.45%
EPS Next 2Y9.58%
EPS Next 3Y5.52%
EPS Next 5YN/A
Revenue Next Year34.45%
Revenue Next 2Y17.1%
Revenue Next 3Y0.4%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 10.29, the valuation of MAIN can be described as very reasonable.
MAIN's Price/Earnings ratio is a bit cheaper when compared to the industry. MAIN is cheaper than 63.55% of the companies in the same industry.
When comparing the Price/Earnings ratio of MAIN to the average of the S&P500 Index (25.05), we can say MAIN is valued rather cheaply.
The Price/Forward Earnings ratio is 10.55, which indicates a very decent valuation of MAIN.
The rest of the industry has a similar Price/Forward Earnings ratio as MAIN.
When comparing the Price/Forward Earnings ratio of MAIN to the average of the S&P500 Index (20.08), we can say MAIN is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.29 | ||
| Fwd PE | 10.55 |
4.2 Price Multiples
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MAIN is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.19 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
MAIN has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.39
PEG (5Y)1.56
EPS Next 2Y9.58%
EPS Next 3Y5.52%
5. Dividend
5.1 Amount
MAIN has a Yearly Dividend Yield of 7.00%, which is a nice return.
Compared to an average industry Dividend Yield of 7.84, MAIN has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.63, MAIN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7% |
5.2 History
The dividend of MAIN decreases each year by -0.18%.
MAIN has paid a dividend for at least 10 years, which is a reliable track record.
MAIN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)-0.18%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
MAIN pays out 62.72% of its income as dividend. This is not a sustainable payout ratio.
DP62.72%
EPS Next 2Y9.58%
EPS Next 3Y5.52%
MAIN STREET CAPITAL CORP
NYSE:MAIN (12/1/2023, 7:09:11 PM)
After market: 41.68 0 (0%)41.68
+0.35 (+0.85%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)11-02 2023-11-02/amc
Earnings (Next)02-21 2024-02-21/amc
Inst Owners21.45%
Inst Owner Change6.99%
Ins Owners5.14%
Ins Owner Change-0.08%
Market Cap3.44B
Analysts75.38
Price Target44.88 (7.68%)
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7% |
Dividend Growth(5Y)-0.18%
DP62.72%
Div Incr Years3
Div Non Decr Years3
Ex-Date03-07 2024-03-07 (0.24)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.48%
Min EPS beat(2)-2.52%
Max EPS beat(2)3.48%
EPS beat(4)3
Avg EPS beat(4)3.26%
Min EPS beat(4)-2.52%
Max EPS beat(4)8.83%
Revenue beat(2)1
Avg Revenue beat(2)0.12%
Min Revenue beat(2)-2.45%
Max Revenue beat(2)2.7%
Revenue beat(4)3
Avg Revenue beat(4)1.92%
Min Revenue beat(4)-2.45%
Max Revenue beat(4)4.07%
PT rev (1m)0%
PT rev (3m)0.76%
EPS NQ rev (1m)-0.38%
EPS NQ rev (3m)1.21%
EPS NY rev (1m)0%
EPS NY rev (3m)1.31%
Revenue NQ rev (1m)0.65%
Revenue NQ rev (3m)2.66%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.64%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.29 | ||
| Fwd PE | 10.55 | ||
| P/S | 7.08 | ||
| P/FCF | 24.19 | ||
| P/OCF | 24.19 | ||
| P/B | 1.45 | ||
| P/tB | 1.45 | ||
| EV/EBITDA | N/A |
EPS(TTM)4.05
EY9.72%
EPS(NY)3.95
Fwd EY9.48%
FCF(TTM)1.72
FCFY4.13%
OCF(TTM)1.72
OCFY4.13%
SpS5.88
BVpS28.76
TBVpS28.76
PEG (NY)0.39
PEG (5Y)1.56
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.86% | ||
| ROE | 16.69% | ||
| ROCE | 7.43% | ||
| ROIC | 6.77% | ||
| ROICexc | 6.89% | ||
| ROICexgc | 6.89% | ||
| OM | 66.97% | ||
| PM (TTM) | 81.59% | ||
| GM | 79.11% | ||
| FCFM | 29.28% |
ROA(3y)5.24%
ROA(5y)5.42%
ROE(3y)10.63%
ROE(5y)10.34%
ROIC(3y)4.86%
ROIC(5y)5.14%
ROICexc(3y)4.92%
ROICexc(5y)5.22%
ROICexgc(3y)4.92%
ROICexgc(5y)5.22%
ROCE(3y)5.34%
ROCE(5y)5.64%
ROICexcg growth 3Y-0.3%
ROICexcg growth 5Y-1.18%
ROICexc growth 3Y-0.3%
ROICexc growth 5Y-1.18%
OM growth 3Y0.21%
OM growth 5Y-0.23%
PM growth 3Y6.38%
PM growth 5Y-5.02%
GM growth 3Y-0.05%
GM growth 5Y-0.76%
F-Score5
Asset Turnover0.11
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 13.63 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 3.39 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 35.89% | ||
| Current Ratio | 1.74 | ||
| Quick Ratio | 1.74 | ||
| Altman-Z | 1.39 |
F-Score5
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
Growth
EPS 1Y (TTM)33.22%
EPS 3Y9.44%
EPS 5Y6.6%
EPS growth Q2Q19.28%
EPS Next Y26.45%
EPS Next 2Y9.58%
EPS Next 3Y5.52%
EPS Next 5YN/A
Revenue 1Y (TTM)40.5%
Revenue growth 3Y15.69%
Revenue growth 5Y12.88%
Revenue growth Q2Q25.2%
Revenue Next Year34.45%
Revenue Next 2Y17.1%
Revenue Next 3Y0.4%
Revenue Next 5YN/A
EBIT growth 1Y47.3%
EBIT growth 3Y15.94%
EBIT growth 5Y12.62%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y176.97%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y176.97%
OCF growth 3YN/A
OCF growth 5YN/A