Main Street Capital Corporation
Find Ratings ReportsMAIN STREET CAPITAL CORP's gross profit margin for the fourth quarter of its fiscal year 2023 is essentially unchanged when compared to the same period a year ago. The company has grown its sales and net income during the past quarter when compared with the same quarter a year ago, and although its growth in net income has outpaced the subsector average, its revenue growth has not.
During the same period, stockholders' equity ("net worth") has increased by 17.49% from the same quarter last year.
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Income Statement | Q4 FY23 | Q4 FY22 |
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Net Sales ($mil) | 129.31 | 113.88 |
EBITDA ($mil) | 114.56 | 99.0 |
EBIT ($mil) | 114.56 | 99.0 |
Net Income ($mil) | 139.08 | 106.32 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 60.08 | 49.12 |
Total Assets ($mil) | 4443.57 | 4241.89 |
Total Debt ($mil) | 1802.34 | 2010.16 |
Equity ($mil) | 2477.4 | 2108.59 |
Profitability | Q4 FY23 | Q4 FY22 |
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Gross Profit Margin | 88.59 | 86.94 |
EBITDA Margin | 88.59 | 86.93 |
Operating Margin | 88.59 | 86.94 |
Sales Turnover | 0.11 | 0.09 |
Return on Assets | 9.64 | 5.69 |
Return on Equity | 17.29 | 11.46 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 0.0 | 0.0 |
Debt/Capital | 0.42 | 0.49 |
Interest Expense | 24.41 | 23.06 |
Interest Coverage | 4.69 | 4.29 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 83.68 | 78.46 |
Div / share | 0.98 | 0.76 |
EPS | 1.65 | 1.37 |
Book value / share | 29.61 | 26.87 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 364579.0 | 351670.0 |
BUY. MAIN STREET CAPITAL CORP's P/E ratio indicates a significant discount compared to an average of 49.70 for the Securities, Commodity Contracts, Financial Investm subsector and a significant discount compared to the S&P 500 average of 27.95. For additional comparison, its price-to-book ratio of 1.55 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 3.54. The price-to-sales ratio is well above both the S&P 500 average and the subsector average, indicating a premium. Upon assessment of these and other key valuation criteria, MAIN STREET CAPITAL CORP proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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MAIN 8.78 | Peers 49.70 | MAIN NA | Peers 29.90 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. MAIN is trading at a significant discount to its peers. |
Neutral. The P/CF ratio is the stock’s price divided by the sum of the company's cash flow from operations. It is useful for comparing companies with different capital requirements or financing structures. Ratio not available. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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MAIN 11.66 | Peers 19.20 | MAIN NM | Peers 1.61 | |||||||||||||||||||||
Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations. MAIN is trading at a significant discount to its peers. |
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. MAIN's negative PEG ratio makes this valuation measure meaningless. |
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Price/Book |
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Earnings Growth |
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MAIN 1.55 | Peers 3.54 | MAIN 62.11 | Peers 71.14 | |||||||||||||||||||||
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. MAIN is trading at a significant discount to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, MAIN is expected to trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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MAIN 7.66 | Peers 5.47 | MAIN 32.77 | Peers 38.40 | |||||||||||||||||||||
Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. MAIN is trading at a significant premium to its subsector. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. MAIN trails its peers on the basis of sales growth. |
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