MAIN (Main Street Capital Corporation) Stock Financials & Earnings | Market Cap Arena

MAIN (Main Street Capital Corporation) Stock Financials & Earnings | Market Cap Arena

MAINMain Street Capital Corporation

Mkt Cap$5B

Financial Services·Asset Management·🇺🇸 United States·NYSE

Revenue (TTM)$735M

Net Income (TTM)$493M

EPS (TTM)$5.52

Free Cash Flow (TTM)$354M

Gross Margin86.9%

Op. Margin70.8%

Net Margin67.2%

FCF Margin48.2%

P/S Ratio (TTM)7.0x

P/E Ratio (TTM)10.4x

YoY Rev Growth+1.4%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$127M	$102M	$88M
Q2 23	$157M	$130M	$115M
Q3 23	$151M	$124M	$110M
Q4 23	$178M	$153M	$138M
Q1 24	$160M	$133M	$118M
Q2 24	$159M	$129M	$114M
Q3 24	$185M	$151M	$136M
Q4 24	$221M	$187M	$171M
Q1 25	$171M	$140M	$123M
Q2 25	$177M	$145M	$127M
Q3 25	$184M	$151M	$133M
Q4 25	$203M	$203M	$137M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	12.0x	20.0x
Q2 23	9.7x	14.8x
Q3 23	8.8x	13.0x
Q4 23	8.4x	12.0x
Q1 24	8.0x	11.3x
Q2 24	7.9x	11.3x
Q3 24	7.5x	10.8x
Q4 24	7.1x	10.1x
Q1 25	7.0x	9.9x
Q2 25	6.8x	9.6x
Q3 25	6.8x	9.6x
Q4 25	7.0x	10.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$20M	$20M
Q2 23	$28M	$28M
Q3 23	$90M	$90M
Q4 23	$128M	$128M
Q1 24	-$118M	-$118M
Q2 24	-$186M	-$186M
Q3 24	$72M	$72M
Q4 24	$145M	$145M
Q1 25	$58M	$58M
Q2 25	$103M	$103M
Q3 25	$91M	$91M
Q4 25	$104M	$104M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+30.3%	+44.5%
Q2 23	+182.7%	+37.3%
Q3 23	+61.7%	+14.2%
Q4 23	+18.3%	+3.2%
Q1 24	+25.9%	+6.4%
Q2 24	+1.0%	+7.2%
Q3 24	+22.6%	+19.9%
Q4 24	+24.6%	+27.9%
Q1 25	+6.8%	+13.0%
Q2 25	+11.9%	+12.9%
Q3 25	-0.7%	+2.2%
Q4 25	-8.3%	+32.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$4M	3.2%
Q2 23	$4M	2.6%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$4M	2.6%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$5M	3.1%
Q3 25	$0	0.0%
Q4 25	$907K	0.4%

OpEx Breakdown

Quarter	G&A
Q2 25	$27K
Q4 25	$75M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$40M	$0	$40M
Q2 23	$71M	$0	$71M
Q3 23	$77M	$0	$77M
Q4 23	$60M	$0	$60M
Q1 24	$115M	$0	$115M
Q2 24	$30M	$0	$30M
Q3 24	$84M	$0	$84M
Q4 24	$78M	$0	$78M
Q1 25	$109M	$0	$109M
Q2 25	$87M	$0	$87M
Q3 25	$31M	$0	$31M
Q4 25	$42M	$0	$42M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	80M	+2.2%
Q2 23	81M	+1.6%
Q3 23	83M	+2.6%
Q4 23	84M	+1.8%
Q1 24	85M	+0.8%
Q2 24	86M	+1.2%
Q3 24	87M	+1.5%
Q4 24	88M	+1.1%
Q1 25	89M	+0.3%
Q2 25	89M	+0.6%
Q3 25	89M	-0.1%
Q4 25	90M	+0.7%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$4M	38
FY 15	$3M	50
FY 16	$4M	57
FY 17	$5M	58
FY 18	$4M	66
FY 19	$3M	71
FY 20	$1M	76
FY 21	$6M	80
FY 22	$4M	91
FY 23	$6M	100
FY 24	$7M	104
FY 25	$6M	110