Main Street Capital Corporation (MAIN) — Dividend Yield, NAV & Valuation Analysis
MAIN · NYSE
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Overview
Main Street Capital Corporation is a unique BDC that combines debt and equity investments in lower middle-market companies. MAIN is distinguished by its monthly dividend payments and a long track record of dividend growth. The company focuses on companies with EBITDA between $2 million and $50 million, providing flexible capital solutions including senior debt, mezzanine debt, and direct equity co-investments.
Key Metrics
| Metric | Value |
|---|---|
| 1-Year Total Return | 12.8% |
| 3-Year Total Return | 34.5% |
| 5-Year Total Return | 51.2% |
| Expense Ratio | 7.2% |
| Leverage Ratio | 1.05x |
| Portfolio Companies | 85 |
| Total Assets | $4.5B |
Discount / Premium to NAV
| Stock Price | $43.8 |
| NAV per Share | $38.5 |
| Premium / (Discount) to NAV | 13.8% |
| Implied per-share NAV gap | $-5.3 |
The premium / discount to NAV compares the current stock price to the per-share net asset value of Main Street Capital Corporation's investment portfolio. A negative reading (a discount) means the market is pricing MAIN below the value of its underlying assets and is one of the most-watched valuation metrics for any BDC. A positive reading (a premium) means the market is paying a premium over the stated NAV, often reflecting confidence in future dividend coverage and portfolio credit quality. Main Street Capital Corporation currently trades at a 13.8% premium to NAV.
Investment Strategy
Main Street Capital Corporation focuses on senior secured loans, mezzanine debt, equity investments in the business services, healthcare, consumer, industrial sectors. The company targets middle-market companies and maintains a portfolio of 85 investments totaling $4.5B in assets.
Management
CEO: Dwayne L. Hyzak | Employees: 85
Suitability
MAIN is suitable for income-focused investors seeking monthly dividend income with a 7.5% yield. The BDC's focus on senior secured loans provides defensive portfolio characteristics. Investors should consider their risk tolerance and investment objectives before investing.