Main Street Sees Q4 NAV per Share Rise to $33.29-$33.37
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 15 2026
0mins
Should l Buy MAIN?
Sees Q4 NAV per share $33.29-$33.37, an increase of 51c-59c per share, or 1.5% to 1.8%, from the NAV per share of $32.78 as of September 30, 2025, with this increase after the impact of the supplemental dividend paid in December 2025 of 30c per share. CEO Dwayne Hyzak stated, "We are extremely pleased with our continued strong performance in Q4, which closed another great year for Main Street across our key financial metrics, including several new quarterly and annual records. Our preliminary operating results highlight that our Q4 performance resulted in another quarter of strong operating results, including favorable distributable net investment income per share and a new record for net asset value per share for the fourteenth consecutive quarter, primarily driven by a significant net fair value increase and including the benefits of material net realized gains in both our lower middle market and private loan investment portfolios. We also produced extremely strong fourth quarter investment activity in our unique lower middle market investment strategy, resulting in an annual record for gross investments of approximately $700M in 2025. Our Q4 results continued our positive performance over the last few years and resulted in an estimated return on equity of over 17% for the quarter and for the full year. We look forward to sharing the full details of our Q4 and full year 2025 results in late February."
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Analyst Views on MAIN
Wall Street analysts forecast MAIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MAIN is 65.33 USD with a low forecast of 60.00 USD and a high forecast of 70.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
2 Buy
3 Hold
0 Sell
Moderate Buy
Current: 59.900
Low
60.00
Averages
65.33
High
70.00
Current: 59.900
Low
60.00
Averages
65.33
High
70.00
About MAIN
Main Street Capital Corporation is a principal investment company that primarily provides customized long-term debt and equity capital solutions to lower middle market (LMM) companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. Its portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in a variety of industry sectors. The Company invests primarily in secured debt investments, equity investments, warrants and other securities of LMM companies based in the United States and in secured debt investments of private loan companies generally headquartered in the United States. It owns several investment funds, including Main Street Mezzanine Fund, LP and Main Street Capital III, LP, (the Funds), and each of their general partners. MSC Adviser I, LLC, serves as an investment adviser.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Partnership Dynamics: Main Street has partnered with Iron Creek Partners, the majority equity investor and existing owner of the healthcare data services company, which enhances both parties' competitive positioning in the healthcare data market.
- Market Reaction: Following the investment announcement, Main Street Capital's shares fell 0.13% in pre-market trading to $61.30, reflecting a cautious market sentiment regarding the investment, which may impact shareholder confidence in the short term.
- Future Outlook: Main Street Capital estimates that Q4 earnings will exceed consensus expectations, indicating confidence in its portfolio management and revenue growth, potentially supporting future investment decisions.
See More
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- Investment Scale: Main Street Capital recently completed a $15.3 million investment to facilitate a leveraged buyout of a leading healthcare data services provider, demonstrating its strategic positioning in the healthcare sector.
- Partnership Dynamics: In this transaction, Main Street partnered with Iron Creek Partners and the existing owner, indicating its confidence and focus in the healthcare data industry.
- Company Background: Founded in 1999, the healthcare data services provider specializes in cleaning and matching provider information, efficiently processing high volumes of medical and dental claims while ensuring high standards of security and service quality, reflecting its significance in the industry.
- Investment Strategy: Main Street's portfolio typically supports management buyouts and growth financing, targeting companies with annual revenues between $10 million and $150 million, and this investment further solidifies its capability in providing financing solutions within the lower middle market.
See More
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- Main Street Capital's Dual Income: As a business development company, Main Street Capital ensures at least 90% of its taxable net income is distributed to shareholders, currently offering a monthly dividend yield of 5%, with a 136% increase since its 2007 IPO, demonstrating its stable income-generating ability.
- Realty Income's Stability: This REIT has declared 667 consecutive monthly dividends since its inception, with 133 increases since its 1994 public listing, currently yielding 5.3%, and its diversified real estate portfolio provides stable rental income, enhancing its financial stability.
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- Industry Expertise: As President of Triple-S Steel since 2022, Marks oversees finance, HR, and operations, driving strategic growth in the construction and manufacturing sectors, which is expected to enhance the Fund's investment decision-making capabilities in these areas.
- Financial Sector Experience: With 13 years at JPMorgan Chase in various senior roles, Marks has developed extensive middle-market and corporate banking expertise that will aid the Fund's strategic execution in private equity investments.
- Community Engagement: Marks has served on the boards of several non-profit organizations, reflecting her commitment to social responsibility, which is likely to enhance MSC Income Fund's image and impact in socially responsible investing.
See More
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- Main Street Capital's Unique Policy: As a business development company, Main Street Capital provides capital to lower middle-market firms, achieving a 4% dividend increase over the past year and a total growth of 136% since its 2007 IPO, with a monthly dividend policy that ensures sustainable cash flow, currently yielding 6.7%.
- Verizon's Stable Cash Flow: Verizon generates approximately $20 billion in free cash flow annually, supporting its 6.9% dividend, and has increased its dividend for 19 consecutive years; the recent $20 billion acquisition of Frontier Communications is expected to enhance its fiber network, boosting revenue and margins.
- Future Passive Income Outlook: Continued investments in PepsiCo, Main Street Capital, and Verizon are expected to yield increased passive dividend income, accelerating the path to financial independence and reflecting the long-term investment value of high-yield stocks.
See More
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- Main Street Capital's Unique Policy: Main Street Capital maintains a sustainable monthly dividend policy, increasing its payout by 4% over the past year and achieving a total increase of 136% since its 2007 IPO, resulting in a 6.7% yield that provides investors with a reliable passive income stream.
- Verizon's Financial Flexibility: Verizon generates approximately $20 billion in free cash flow annually, supporting its 6.9% dividend payments, and has consistently raised its dividend for 19 years, showcasing its strong profitability and market position.
- Acquisition Enhances Growth Potential: Verizon's recent $20 billion acquisition of Frontier Communications aims to bolster its fiber network, which will enhance cross-selling capabilities, driving revenue and margin growth, thereby reinforcing its ability to sustain dividend payments.
See More
