Main Street Capital Corporation (MAIN) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Main Street Capital Corporation $109, price $55.08, upside +97.2%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Main Street Capital Corporation
MAIN · USClearly undervaluedStrong Fair Value upside, but quality is only moderate.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $24.00 – $62.96 · fair‑value band $47.96 – $187.13 · the $55.08 price screens below the $108.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
Main Street Capital Corporation is a business development company and a small business investment company specializing in direct and indirect investments. In direct investments, the firm specializes in private equity capital to lower middle market companies.
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Main Street Capital Corporation is a business development company and a small business investment company specializing in direct and indirect investments. In direct investments, the firm specializes in private equity capital to lower middle market companies. The firm specializes in recapitalizations, loan, growth capital, mezzanine debt, corporate carveouts, family estate planning, management buyouts, refinancing, private loan, private credit solutions, senior secured term debt, unintranche term debt, subordinated debt, preferred equity, common equity, minimal or no fixed amortization, split lien term debt, industry consolidation, mature, later stage and emerging growth. The firm makes both control and non-control equity investments. The firm also provides debt capital to middle market companies for strategic acquisitions, management buyouts, growth financings, majority and minority recapitalizations, and refinancing. The firm also makes equity co-investments. The firm provides debt financing solutions for acquisitions, recapitalizations, and refinancing to middle market companies. The firm provides private debt and private equity capital to lower middle market companies and debt capital to middle market companies. The firm seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives within its lower middle market portfolio. It prefers to invest in air freight and logistics, auto components, building products, chemicals, commercial services, computers, construction and engineering, consumer finance, consumer services, electronic equipment, energy equipment and services, financial services, health care equipment, health care providers, hotels, restaurants, and leisure, internet software and services, IT Services, machinery, oil, gas and consumable fuels, paper and forest products, professional and industrial services, manufacturing, road and rail, software, specialty retail, telecommunication, consumer discretionary, energy, materials, concrete, p
Stock analysis
Main Street Capital Corporation (MAIN) currently trades at $55.08, while our model-based Fair Value estimate is $108.60, implying the stock looks roughly 49.3% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of $115.24 per share, and 8 of the 12 models we run sit above the $55.08 price.
Bear case: the Asset-Based group reads lowest at $21.57, and 4 of the 12 models stay below the price. Evidence for this calculation is high.
Scenario range: $47.96 (bear) to $187.13 (bull), the price of $55.08 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Main Street Capital Corporation reported revenue of $645M in FY2025 versus $411M in FY2021, a compound +11.9%/yr. Reported net income was $493M in FY2025, compounding +10.5%/yr from FY2021.
Key figures
Market cap $4.9B · P/E ratio 11.6 · P/S ratio 8.88 · EPS (TTM) $4.75 · Dividend yield 5.6% · Net margin 76.6% · Return on equity 14.4% · Return on assets (EBIT) 9.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (medium confidence).
What moves the price
The share trades about 11% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at 97%, MAIN screens cheaper than that median.
Fair Value models
All 12 models by family
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Set up alert →Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 53
Revenue & earnings trend
Growth Forecast
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Compare Main Street Capital Corporation with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 659 stocks
Valuation Multiplesvs Asset Management median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Asset Management stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Blackstone Inc BX | $124.01 | $52.88 | −57% |
| Brookfield Corporation BN | $37.85 | $13.75 | −64% |
| KKR & Co KKR | $98.44 | $19.97 | −80% |
| Apollo Global Management, Inc APO | $124.15 | $229.64 | +85% |
| State Street Corporation STT | $180.25 | $138.33 | −23% |
| Ameriprise Financial, Inc AMP | $512.37 | $579.51 | +13% |
| Ares Management Corporation ARES | $124.72 | $119.25 | −4% |
| Northern Trust Corporation NTRS | $173.40 | $122.02 | −30% |
| Raymond James Financial, Inc RJF | $159.39 | $312.27 | +96% |
| T. Rowe Price Group TROW | $104.17 | $208.34 | +100% |
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Key figures of Main Street Capital Corporation
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