Main Street Capital MAIN Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues before waivers by Product | ||||||
| Administrative services fees | $186K+2.2% | $182K+5.2% | $173K+0.6% | $172K-1.1% | $174K+6.7% | |
| Incentive fees | $4M-5.1% | $4.22M+7.8% | $3.91M+5.1% | $3.72M+38.3% | $2.69M-19.8% | |
| Management Service, Base | $6.07M+4.3% | $5.82M+4.1% | $5.59M-2.0% | $5.71M-0.8% | $5.75M-6.6% | |
| Net assets, percentage (as a percent) by Geography | ||||||
| Southeast | 9.7%+0.4pp | 9.3%+0.1pp | 9.2%+2.2pp | 7%+1.6pp | 5.4%-0.2pp | |
| Southwest | 34.3%-2.0pp | 36.3%+0.7pp | 35.6%+1.3pp | 34.3%-1.0pp | 35.3%+1.6pp | |
| US Midwest Region | 18.8%-0.5pp | 19.3%-0.8pp | 20.1%-0.2pp | 20.3%+1.4pp | 18.9%-0.3pp | |
| West | 17.5%-0.7pp | 18.2%-0.6pp | 18.8%+1.7pp | 17.1%+3.0pp | 14.1%+0.5pp | |
| Investments at fair value: by Geography | ||||||
| Southeast | $298.91M+7.9% | $277.01M+2.2% | $270.96M+33.8% | $202.56M+31.0% | $154.61M-0.7% | |
| Southwest | $1.06B-2.4% | $1.09B+4.1% | $1.04B+5.4% | $990.02M-1.3% | $1B+6.3% | |
| US Midwest Region | $582.66M+1.0% | $577.14M-2.1% | $589.46M+0.6% | $586.1M+8.9% | $538.02M0.0% | |
| West | $541.21M-0.6% | $544.41M-1.4% | $552.13M+11.7% | $494.18M+23.4% | $400.6M+5.2% | |
| Concentration risk (as a percent) by Geography | ||||||
| Northeast | 14.5%— | —— | —— | —— | 20.4%— | |
| Other Non-U.S. | 1.2%— | —— | —— | —— | 1.4%— | |
| Southeast | 18.6%+15.3pp | 3.3%+0.2pp | 3.1%+2.3pp | 0.8%-9.5pp | 10.3%— | |
| Southwest | 23.3%— | 0%-0.3pp | 0.3%-0.4pp | 0.7%-21.7pp | 22.4%+19.9pp | |
| US Midwest Region | 19.8%— | —— | —— | —— | 24.8%+24.4pp | |
| West | 25.3%— | —— | —— | 1.5%-23.0pp | 24.5%— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Main Street Capital break its business down?
- Main Street Capital (MAIN) reports total revenues before waivers by product across 3 parts — Administrative services fees, Incentive fees and Management Service, Base. Each is extracted from the segment footnotes and tracked over time.
- Where does Main Street Capital's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Main Street Capital's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.