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+6.9% | $182K+11.7% | $173K+6.8% | $172K+8.2% | $174K+13.0% | |
| Incentive fees | $4M+48.8% | $4.22M+25.6% | $3.91M+63.4% | $3.72M-9.6% | $2.69M-30.4% | |
| Management Service, Base | $6.07M+5.5% | $5.82M-5.5% | $5.59M-8.6% | $5.71M-3.0% | $5.75M+0.6% | |
| Net assets, percentage (as a percent) by Geography | ||||||
| Southeast | 9.7%+4.3pp | 9.3%+3.7pp | 9.2%+2.9pp | 7%+0.3pp | 5.4%-1.6pp | |
| Southwest | 34.3%-1.0pp | 36.3%+2.6pp | 35.6%+4.0pp | 34.3%+2.3pp | 35.3%+3.8pp | |
| US Midwest Region | 18.8%-0.1pp | 19.3%+0.1pp | 20.1%+0.8pp | 20.3%+0.3pp | 18.9%-2.0pp | |
| West | 17.5%+3.4pp | 18.2%+4.6pp | 18.8%+4.1pp | 17.1%+2.0pp | 14.1%-1.9pp | |
| Investments at fair value: by Geography | ||||||
| Southeast | $298.91M+93.3% | $277.01M+78.0% | $270.96M+58.7% | $202.56M+17.8% | $154.61M-12.1% | |
| Southwest | $1.06B+5.7% | $1.09B+15.1% | $1.04B+22.5% | $990.02M+19.8% | $1B+26.5% | |
| US Midwest Region | $582.66M+8.3% | $577.14M+7.2% | $589.46M+13.6% | $586.1M+13.8% | $538.02M+2.2% | |
| West | $541.21M+35.1% | $544.41M+43.0% | $552.13M+39.4% | $494.18M+26.9% | $400.6M-0.4% | |
| Concentration risk (as a percent) by Geography | ||||||
| Northeast | 14.5%-5.9pp | —— | —— | —— | 20.4%-1.0pp | |
| Other Non-U.S. | 1.2%-0.2pp | —— | —— | —— | 1.4%-0.1pp | |
| Southeast | 18.6%+8.3pp | 3.3%— | 3.1%— | 0.8%+0.6pp | 10.3%-3.4pp | |
| Southwest | 23.3%+0.9pp | 0%-2.5pp | 0.3%— | 0.7%— | 22.4%+0.5pp | |
| US Midwest Region | 19.8%-5.0pp | —— | —— | —— | 24.8%+6.8pp | |
| West | 25.3%+0.8pp | —— | —— | 1.5%— | 24.5%-2.2pp |
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.