Main Street Capital Q4 NAV per share rises on private loan portfolio gains

Overview

• Investment firm's preliminary Q4 net asset value per share increased 1.5% to 1.8%

• Preliminary Q4 distributable net investment income per share estimated at $1.07 to $1.11

• Company achieved over 17% return on equity for Q4 and full year 2025

Outlook

• Main Street estimates fourth-quarter net investment income at $1.01 to $1.05 per share

• Company sees fourth-quarter distributable net investment income at $1.07 to $1.11 per share

• Main Street estimates fourth-quarter net asset value per share at $33.29 to $33.37

Result Drivers

• FAIR VALUE INCREASES - Significant net fair value increases in lower middle market and private loan portfolios drove record NAV per share

• RECORD INVESTMENT ACTIVITY - Achieved annual record for gross investments in lower middle market strategy, contributing to strong Q4 results

• NET ASSET VALUE GROWTH - NAV per share increased due to fair value gains, offset by tax provisions and declines in other segments

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment banking & brokerage services peer group is "buy."

• Wall Street's median 12-month price target for Main Street Capital Corp is $60.00, about 3.6% below its January 14 closing price of $62.27

• The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release: ID:nPn9w8cHga

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