Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Main Street Capital

DB:13M
Snowflake Description

Very undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
13M
DB
$2B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Main Street Capital Corporation is a principal investment firm that primarily provides equity capital to lower middle market companies and debt capital to middle market companies. The last earnings update was 29 days ago. More info.


Add to Portfolio Compare Print
  • Main Street Capital is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Main Street Capital has significant price volatility in the past 3 months.
13M Share Price and Events
7 Day Returns
17.2%
DB:13M
12.3%
DE Capital Markets
7.2%
DE Market
1 Year Returns
-34.2%
DB:13M
-8.8%
DE Capital Markets
-17.5%
DE Market
13M Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Main Street Capital (13M) 17.2% -38.8% -43.8% -34.2% -38.9% -23.4%
DE Capital Markets 12.3% -26.5% -16.8% -8.8% -29% -56.3%
DE Market 7.2% -22.3% -26.1% -17.5% -25.7% -29.1%
1 Year Return vs Industry and Market
  • 13M underperformed the Capital Markets industry which returned -8.8% over the past year.
  • 13M underperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
13M
Industry
5yr Volatility vs Market

13M Value

 Is Main Street Capital undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Main Street Capital to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Main Street Capital.

DB:13M Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $23.92 * 11.4%
$2.73
Book Value of Equity per Share Median Book Value from the past 5 years. $23.92
Discount Rate (Cost of Equity) See below 5.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:13M
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.754 (1 + (1- 21%) (73.71%))
1.13
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.13 * 5.44%)
5.76%

Discounted Cash Flow Calculation for DB:13M using Excess Returns Model Model

The calculations below outline how an intrinsic value for Main Street Capital is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:13M Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (11.4% – 5.76%) * $23.92)
$1.36
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $1.36 / (5.76% - -0.39%)
$22.09
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $23.92 + $22.09
$46.01
DB:13M Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:13M represents 0.92451x of NYSE:MAIN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.92451x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 46.01 x 0.92451
€42.53
Value per share (EUR) From above. €42.53
Current discount Discount to share price of €21.80
= -1 x (€21.80 - €42.53) / €42.53
48.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Main Street Capital is available for.
Intrinsic value
49%
Share price is €21.8 vs Future cash flow value of €42.53
Current Discount Checks
For Main Street Capital to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Main Street Capital's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Main Street Capital's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Main Street Capital's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Main Street Capital's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:13M PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $2.06
NYSE:MAIN Share Price ** NYSE (2020-03-27) in USD $23.58
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 21.49x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Main Street Capital.

DB:13M PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MAIN Share Price ÷ EPS (both in USD)

= 23.58 ÷ 2.06

11.46x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Main Street Capital is good value based on earnings compared to the DE Capital Markets industry average.
  • Main Street Capital is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Main Street Capital's expected growth come at a high price?
Raw Data
DB:13M PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.46x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
13.4%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.49x
Germany Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:13M PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.46x ÷ 13.4%

0.85x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Main Street Capital is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Main Street Capital's assets?
Raw Data
DB:13M PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $23.92
NYSE:MAIN Share Price * NYSE (2020-03-27) in USD $23.58
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.61x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.42x
DB:13M PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MAIN Share Price ÷ Book Value per Share (both in USD)

= 23.58 ÷ 23.92

0.99x

* Primary Listing of Main Street Capital.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Main Street Capital is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Main Street Capital's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Main Street Capital has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

13M Future Performance

 How is Main Street Capital expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Main Street Capital expected to grow at an attractive rate?
  • Main Street Capital's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Main Street Capital's earnings growth is positive but not above the Germany market average.
  • Main Street Capital's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:13M Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:13M Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 13.4%
DB:13M Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 3.4%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 41.2%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:13M Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:13M Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 260 -43 171 5
2020-12-31 246 -98 164 5
2020-03-28
DB:13M Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 243 -34 130
2019-09-30 242 -4 123
2019-06-30 240 37 158
2019-03-31 239 10 175
2018-12-31 233 -109 168
2018-09-30 230 21 220
2018-06-30 223 -76 186
2018-03-31 214 -126 174
2017-12-31 206 73 171
2017-09-30 197 -103 157
2017-06-30 192 8 165
2017-03-31 184 17 154

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Main Street Capital's earnings are expected to grow by 13.4% yearly, however this is not considered high growth (20% yearly).
  • Main Street Capital's revenue is expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:13M Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Main Street Capital Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:13M Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.63 3.16 2.36 4.00
2020-12-31 2.58 3.14 2.35 4.00
2020-03-28
DB:13M Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 2.06
2019-09-30 1.97
2019-06-30 2.56
2019-03-31 2.87
2018-12-31 2.80
2018-09-30 3.70
2018-06-30 3.18
2018-03-31 3.01
2017-12-31 3.01
2017-09-30 2.83
2017-06-30 3.04
2017-03-31 2.89

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Main Street Capital is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Main Street Capital's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Main Street Capital has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

13M Past Performance

  How has Main Street Capital performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Main Street Capital's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Main Street Capital's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Main Street Capital's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Main Street Capital's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
Main Street Capital's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Main Street Capital Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:13M Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 243.37 129.57 35.75
2019-09-30 242.00 123.06 33.15
2019-06-30 240.20 157.90 34.30
2019-03-31 238.78 175.10 34.47
2018-12-31 233.36 168.21 33.22
2018-09-30 229.87 220.15 36.19
2018-06-30 223.39 186.31 35.22
2018-03-31 213.79 173.69 34.48
2017-12-31 205.74 170.62 33.89
2017-09-30 196.78 157.17 33.02
2017-06-30 191.59 165.46 32.15
2017-03-31 184.22 153.54 30.36
2016-12-31 178.34 138.90 28.91
2016-09-30 175.00 98.45 27.74
2016-06-30 171.01 75.93 26.72
2016-03-31 169.42 85.83 26.17
2015-12-31 164.59 104.44 25.40
2015-09-30 159.86 118.89 24.34
2015-06-30 153.60 119.79 23.41
2015-03-31 147.17 108.94 22.78
2014-12-31 140.76 100.75 21.64
2014-09-30 135.40 99.92 21.76
2014-06-30 128.71 106.41 21.21
2014-03-31 121.63 100.46 19.81
2013-12-31 116.50 96.86 19.54
2013-09-30 109.27 100.17 18.24
2013-06-30 102.56 104.09 16.79
2013-03-31 95.61 104.23 16.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Main Street Capital has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Main Street Capital used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Main Street Capital has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Main Street Capital's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Main Street Capital has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

13M Health

 How is Main Street Capital's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Main Street Capital's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Main Street Capital is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Main Street Capital's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Main Street Capital's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Main Street Capital Company Filings, last reported 2 months ago.

DB:13M Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,536.39 1,114.01 55.25
2019-09-30 1,532.06 1,059.98 52.28
2019-06-30 1,521.08 1,040.87 70.55
2019-03-31 1,522.50 1,011.99 47.37
2018-12-31 1,476.05 996.15 54.18
2018-09-30 1,505.44 944.56 50.30
2018-06-30 1,447.35 951.71 40.48
2018-03-31 1,396.60 939.28 29.09
2017-12-31 1,380.37 797.17 51.53
2017-09-30 1,329.67 886.76 30.14
2017-06-30 1,282.75 820.82 21.80
2017-03-31 1,243.93 793.01 33.61
2016-12-31 1,201.48 840.33 24.48
2016-09-30 1,144.35 809.14 31.78
2016-06-30 1,099.11 839.33 18.69
2016-03-31 1,077.00 795.46 17.22
2015-12-31 1,070.89 780.40 20.33
2015-09-30 1,090.98 835.34 35.30
2015-06-30 1,090.82 715.36 41.59
2015-03-31 1,083.89 653.28 22.02
2014-12-31 939.98 706.60 60.43
2014-09-30 947.51 600.51 24.32
2014-06-30 943.41 557.76 30.50
2014-03-31 804.41 539.92 24.36
2013-12-31 792.53 514.93 34.70
2013-09-30 794.18 405.14 17.57
2013-06-30 655.38 519.12 41.22
2013-03-31 645.21 353.68 26.22
  • Main Street Capital's level of debt (72.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (75% vs 72.5% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).
X
Financial health checks
We assess Main Street Capital's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Main Street Capital has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

13M Dividends

 What is Main Street Capital's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
12.51%
Current annual income from Main Street Capital dividends. Estimated to be 12.43% next year.
If you bought €2,000 of Main Street Capital shares you are expected to receive €250 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Main Street Capital's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • Main Street Capital's dividend is above the markets top 25% of dividend payers in Germany (4.96%).
Upcoming dividend payment

Purchase Main Street Capital before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:13M Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:13M Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.92 2.00
2020-12-31 2.95 2.00
2020-03-28
DB:13M Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-26 2.950 11.449
2019-11-05 2.950 6.803
2019-10-17 2.950 6.883
2019-05-13 2.985 7.109
2019-02-27 2.925 7.637
2018-10-31 2.890 7.816
2018-08-01 2.890 7.413
2018-05-02 2.830 7.329
2018-02-21 2.830 7.666
2017-11-01 2.830 7.202
2017-08-02 2.830 7.114
2017-02-23 2.770 7.214
2016-11-03 2.770 7.612
2016-08-03 2.770 8.126
2016-05-04 2.710 8.338
2016-02-24 2.710 8.815
2015-11-04 2.160 7.382
2015-08-05 2.710 9.440
2015-05-06 2.100 6.703
2015-02-25 2.650 8.538
2014-11-06 2.590 8.540
2014-08-05 2.590 8.254
2014-05-07 2.255 7.177
2014-02-27 2.255 6.876
2013-11-07 1.980 6.004
2013-08-14 1.920 6.431
2013-05-09 1.860 6.355
2013-03-06 1.860 5.958
2012-11-07 1.800 5.850
2012-08-01 1.800 6.385
2012-05-02 1.740 7.204
2012-03-07 1.680 6.736
2011-12-08 1.620 7.438
2011-08-04 1.620 8.897
2011-06-07 1.560 8.416
2011-03-09 1.560 8.400
2010-12-09 1.500 8.031
2010-09-08 1.500 9.082
2010-06-03 1.500 9.650
2010-03-09 1.500 9.751
2009-12-08 1.500 10.068
2009-09-03 1.500 10.812
2009-05-27 1.500 11.282

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Main Street Capital's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess Main Street Capital's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Main Street Capital afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Main Street Capital has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

13M Management

 What is the CEO of Main Street Capital's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dwayne Hyzak
COMPENSATION $2,681,625
AGE 46
TENURE AS CEO 1.3 years
CEO Bio

Mr. Dwayne Louis Hyzak, CPA, has been Chief Executive Officer of Main Street Capital Corporation since November 15, 2018 and has been its Director since January 30, 2018. Mr. Hyzak served as President and Chief Operating Officer at Main Street Capital Corporation since November 2015 and November 2014 until November 15, 2018 respectively. He served as Senior Managing Director at Main Street Capital Corporation since August 03, 2011. He served as the Chief Financial Officer of Main Street Capital Corporation from August 3, 2011 to November 2014 and its Treasurer from June 2012 to November 2014. He served as Senior Vice President of Finance and Managing Director of Main Street Capital Corporation from 2011 to August 3, 2011. Mr. Hyzak served as a Senior Vice President of Main Street Capital Corporation since 2007. From 2002, he has served as a Managing Director and in other executive positions of several Main Street predecessor funds and entities. He joined Main Street Capital Corporation on January 1, 2002. He was a co-founder of Main Street Capital Corporation. In addition to this, he serves as the Managing Director at Main Street Capital Partners, LLC and Main Street Mezzanine Management, LLC, since 2002. He serves as Vice President at NTS Holdings, Inc. Previously, Mr. Hyzak served as a Director of Accounting Integration at Quanta Services, Inc. where he was focused on the mergers and acquisitions and corporate finance activities. As a Director of the acquisition program at Quanta, he was responsible for the evaluation of numerous acquisition opportunities and was directly involved in the successful completion of 12 acquisitions representing approximately $190 million of revenues. He was also involved in the evaluation and completion of several other strategic investments and decisions including several project finance transactions, joint venture investments, strategic customer relationships and contracts and strategic opportunities to dispose of non-core assets. Mr. Hyzak also served as the Chief Financial Officer at a Quanta operating subsidiary on an interim basis and was responsible for directing the restructuring of the operating subsidiary. Prior to joining Quanta, he was a Manager in the Transaction Advisory Services Group at Arthur Andersen LLP. He joined Arthur Andersen LLP in 1995 and assisted with several industry consolidation initiatives and numerous corporate finance mergers and acquisition initiatives. As a Manager at Arthur Andersen LLP, Mr. Hyzak assisted with the formal establishment of the Transaction Advisory Services Group in the firm's Houston office and assisted numerous clients with industry consolidation efforts, strategic acquisitions, disposals of non-core operating units and corporate finance activities. During his career at Arthur Andersen LLP, Mr. Hyzak provided services in more than 30 financial transactions involving a wide range of public and private clients, including IPO transactions, private placements, secondary offerings, mergers and acquisitions and dispositions. He has been a Director of Volusion, Inc. since January 2015. He serves as a Director at NTS Holdings, Inc. He is actively involved as a Director and in advisory roles at several companies. He served as a Director at KBK Industries, LLC. He is a Certified Public Accountant. Mr. Hyzak is a graduate of Southwest Texas State University with a degree in Accounting.

CEO Compensation
  • Dwayne's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dwayne's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Main Street Capital management team in years:

1.3
Average Tenure
47
Average Age
  • The average tenure for the Main Street Capital management team is less than 2 years, this suggests a new team.
Management Team

Vince Foster

TITLE
Executive Chairman
COMPENSATION
$2M
AGE
62

Dwayne Hyzak

TITLE
CEO & Director
COMPENSATION
$3M
AGE
46
TENURE
1.3 yrs

David Magdol

TITLE
President
COMPENSATION
$4M
AGE
48
TENURE
1.3 yrs

Brent Smith

TITLE
CFO & Treasurer
COMPENSATION
$1M
AGE
44
TENURE
5.3 yrs

Jesse Morris

TITLE
Executive VP & COO
COMPENSATION
$2M
AGE
51
TENURE
0.7 yrs

Lance Parker

TITLE
VP, Chief Accounting Officer & Assistant Treasurer
AGE
49

Ken Dennard

TITLE
Investor Relations Contact

Jason Beauvais

TITLE
Senior VP
COMPENSATION
$2M
AGE
43

Watt Matthews

TITLE
Managing Director
TENURE
1.2 yrs

Kenneth Braud

TITLE
Managing Director
AGE
33
TENURE
3.2 yrs
Board of Directors Tenure

Average tenure and age of the Main Street Capital board of directors in years:

6.6
Average Tenure
61
Average Age
  • The tenure for the Main Street Capital board of directors is about average.
Board of Directors

Dwayne Hyzak

TITLE
CEO & Director
COMPENSATION
$3M
AGE
46
TENURE
2.2 yrs

Jon Griffin

TITLE
Independent Director
COMPENSATION
$250K
AGE
47
TENURE
8.6 yrs

Vince Foster

TITLE
Executive Chairman
COMPENSATION
$2M
AGE
62
TENURE
12.9 yrs

John Jackson

TITLE
Independent Director
COMPENSATION
$245K
AGE
61
TENURE
6.6 yrs

Brian Lane

TITLE
Independent Director
COMPENSATION
$235K
AGE
62
TENURE
4.3 yrs

Arthur French

TITLE
Lead Independent Director
COMPENSATION
$262K
AGE
78

Mike Appling

TITLE
Independent Director
COMPENSATION
$232K
AGE
52
TENURE
12.7 yrs

Joe Canon

TITLE
Independent Director
COMPENSATION
$227K
AGE
76
TENURE
12.7 yrs

Steve Solcher

TITLE
Independent Director
COMPENSATION
$225K
AGE
58
TENURE
4.3 yrs

Valerie Banner

TITLE
Independent Director
COMPENSATION
$217K
AGE
61
TENURE
2.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Main Street Capital individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
25. Mar 20 Buy Arthur French Individual 23. Mar 20 23. Mar 20 2,000 €14.48 €28,957
19. Mar 20 Buy Vincent Foster Individual 18. Mar 20 18. Mar 20 3,000 €14.12 €42,347
19. Mar 20 Buy David Magdol Individual 19. Mar 20 19. Mar 20 1,200 €17.17 €20,601
19. Mar 20 Buy Dwayne Hyzak Individual 19. Mar 20 19. Mar 20 1,350 €17.59 €23,746
19. Mar 20 Buy Brent Smith Individual 19. Mar 20 19. Mar 20 1,500 €17.53 €26,300
19. Mar 20 Buy Jason Beauvais Individual 19. Mar 20 19. Mar 20 1,500 €14.28 €21,424
18. Mar 20 Buy Jesse Morris Individual 18. Mar 20 18. Mar 20 3,000 €14.75 €44,244
18. Mar 20 Buy David Magdol Individual 18. Mar 20 18. Mar 20 1,350 €13.87 €18,726
18. Mar 20 Buy Dwayne Hyzak Individual 18. Mar 20 18. Mar 20 1,700 €13.96 €23,733
18. Mar 20 Buy Nicholas Meserve Individual 18. Mar 20 18. Mar 20 1,000 €14.01 €14,005
05. Mar 20 Buy Jesse Morris Individual 04. Mar 20 04. Mar 20 1,300 €34.48 €44,821
X
Management checks
We assess Main Street Capital's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Main Street Capital has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

13M News

Simply Wall St News

13M Company Info

Description

Main Street Capital Corporation is a principal investment firm that primarily provides equity capital to lower middle market companies and debt capital to middle market companies. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio. Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street's middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.

Details
Name: Main Street Capital Corporation
13M
Exchange: DB
Founded: 2007
$1,369,918,660
64,415,828
Website: http://www.mainstcapital.com
Address: Main Street Capital Corporation
1300 Post Oak Boulevard,
8th Floor,
Houston,
Texas, 77056,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MAIN Common Shares New York Stock Exchange US USD 05. Oct 2007
DB 13M Common Shares Deutsche Boerse AG DE EUR 05. Oct 2007
LSE 0JXQ Common Shares London Stock Exchange GB USD 05. Oct 2007
Number of employees
Current staff
Staff numbers
71
Main Street Capital employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 23:23
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/17
Last earnings filing: 2020/02/28
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.