Main Street Capital (MAIN) Operating Margin (2022 - 2026)
Main Street Capital (MAIN) posted Operating Margin of 62.71% for Q2 2026, little changed on a QoQ basis from 62.7% in Q1 2026, and down 212.0% year-over-year from 55.99% in Q2 2025.
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Analysis
Main Street Capital (MAIN) Operating Margin (2022 - 2026) Analysis & Trends
Main Street Capital has reported Operating Margin for 5 years, with the latest figure at 62.71% in Q2 2026.
- On a quarterly basis, Operating Margin fell 212.0% year-over-year to 62.71% in Q2 2026; TTM through Jun 2026 was 63.51%, a 117.0% decrease from a year earlier, with the FY2025 full-year figure at 64.75%, down 88.0% from the prior year.
- Operating Margin was 62.71% for Q2 2026 at Main Street Capital, roughly flat from 62.7% in the prior quarter.
- The five-year high for Operating Margin was 69.71% in Q4 2023, with the low at 55.76% in Q4 2022.
- Average Operating Margin over 5 years is 64.75%, with a median of 64.74% recorded in 2025.
- The sharpest annual moves came in 2023 and 2024: Operating Margin surged 1395 bps in 2023, then tumbled 538 bps in 2024.
- Over 5 years, Operating Margin stood at 55.76% in 2022, then climbed by 25 bps to 69.71% in 2023, then decreased by 8 bps to 64.34% in 2024, then advanced by 0 bps to 64.64% in 2025, then declined by 3 bps to 62.71% in 2026.
- The last three Operating Margin figures came in at 62.71% (Q2 2026), 62.7% (Q1 2026), and 64.64% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.12 Bn | 13.74 Bn | - | 47.79% |
| 2 | Blackstone Secured Lending Fund | 5.63 Bn | 5.37 Bn | - | 55.61% |
| 3 | Blue Owl Capital | 5.49 Bn | 5.25 Bn | - | 44.07% |
| 4 | Main Street Capital | 5.20 Bn | 5.15 Bn | - | 62.71% |
| 5 | Blue Owl Technology Finance | 4.94 Bn | 4.73 Bn | - | 41.14% |
| 6 | Hercules Capital | 4.66 Bn | 4.61 Bn | - | 62.31% |
| 7 | FS KKR Capital | 3.33 Bn | 3.22 Bn | - | - |
| 8 | Golub Capital Bdc | 3.31 Bn | 3.26 Bn | - | 45.39% |
| 9 | PennantPark Floating Rate Capital | 2.49 Bn | -118.08 Mn | - | 8.79% |
| 10 | MidCap Financial Investment | 2.07 Bn | 2.03 Bn | - | 48.03% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 62.71% |
| Mar 31, 2026 | 62.70% |
| Dec 31, 2025 | 64.64% |
| Sep 30, 2025 | 64.02% |
| Jun 30, 2025 | 64.83% |
| Mar 31, 2025 | 65.53% |
| Dec 31, 2024 | 64.34% |
| Sep 30, 2024 | 64.02% |
| Jun 30, 2024 | 66.06% |
| Mar 31, 2024 | 68.24% |
| Dec 31, 2023 | 69.71% |
| Sep 30, 2023 | 66.68% |
| Jun 30, 2023 | 67.19% |
| Dec 31, 2022 | 55.76% |