SAJ
Saratoga Investment Corp 8.00%
Investment - Banking & Investment Services
Market Cap$414M
5Y Perf.+2.1%
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Stock Comparison
SAJ vs GLAD
Revenue, margins, valuation, and 5-year total return — side by side.
GLAD
Gladstone Capital Corporation
Asset Management
Market Cap$452M
5Y Perf.-2.2%
SAJ vs GLAD — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | SAJ | GLAD |
|---|---|---|
| Industry | Investment - Banking & Investment Services | Asset Management |
| Market Cap | $414M | $452M |
| Revenue (TTM) | $94M | $145M |
| Net Income (TTM) | $39M | $28M |
| Gross Margin | 44.7% | 87.3% |
| Operating Margin | 33.9% | 55.5% |
| Forward P/E | 10.3x | 10.3x |
| Total Debt | $782M | $398M |
| Cash & Equiv. | $148M | $32M |
SAJ vs GLAD — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
SAJ
GLAD
| Stock | Nov 22 | May 26 | Return |
|---|---|---|---|
| Saratoga Investment… (SAJ) | 100 | 102.1 | +2.1% |
| Gladstone Capital C… (GLAD) | 100 | 97.8 | -2.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: SAJ vs GLAD
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: SAJ leads in 6 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Gladstone Capital Corporation is the stronger pick specifically for dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
SAJ
Saratoga Investment Corp 8.00%
The Banking Pick
SAJ carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 4 yrs, beta 0.73, yield 11.4%
- Rev growth 35.4%, EPS growth 184.5%
- Lower volatility, beta 0.73, current ratio 27.93x
Best for: income & stability and growth exposure
GLAD
Gladstone Capital Corporation
The Banking Pick
GLAD is the clearest fit if your priority is long-term compounding and bank quality.
- 174.7% 10Y total return vs SAJ's 30.4%
- NIM 7.4% vs SAJ's 7.2%
- 12.2% yield, 4-year raise streak, vs SAJ's 11.4%
Best for: long-term compounding and bank quality
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | SAJ | 35.4% NII/revenue growth vs GLAD's 20.4% |
| Value | SAJ | Better valuation composite |
| Quality / Margins | SAJ | Efficiency ratio 0.1% vs GLAD's 0.3% (lower = leaner) |
| Stability / Safety | SAJ | Beta 0.73 vs GLAD's 0.73 |
| Dividends | GLAD | 12.2% yield, 4-year raise streak, vs SAJ's 11.4% |
| Momentum (1Y) | SAJ | +7.9% vs GLAD's -12.8% |
| Efficiency (ROA) | SAJ | Efficiency ratio 0.1% vs GLAD's 0.3% |
SAJ vs GLAD — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLGLADLAGGINGSAJ
SAJSaratoga Investment C…
1leads
GLADGladstone Capital Cor…
5leads
6 Total Categories
CATEGORYLEADERvs SAJMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
GLAD3/5
Valuation MetricsMultiples, price ratios, and targets
GLAD4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
GLAD6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
GLAD4/6
Risk & VolatilityBeta, volatility, and downside exposure
SAJ2/2
Analyst OutlookRatings, price targets, and dividends
GLAD1/1
Income & Cash Flow (Last 12 Months)
GLAD leads this category, winning 3 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
GLAD is the larger business by revenue, generating $145M annually — 1.5x SAJ's $94M. GLAD is the more profitable business, keeping 40.1% of every revenue dollar as net income compared to SAJ's 29.8%.
| Metric | SAJSaratoga Investme… | GLADGladstone Capital… |
|---|---|---|
| RevenueTrailing 12 months | $94M | $145M |
| EBITDAEarnings before interest/tax | $1.3B | $28M |
| Net IncomeAfter-tax profit | $39M | $28M |
| Free Cash FlowCash after capex | $23M | -$70M |
| Gross MarginGross profit ÷ Revenue | +44.7% | +87.3% |
| Operating MarginEBIT ÷ Revenue | +33.9% | +55.5% |
| Net MarginNet income ÷ Revenue | +29.8% | +40.1% |
| FCF MarginFCF ÷ Revenue | +2.1% | +30.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +15.6% | -100.0% |
GLAD leads this category, winning 3 of 5 comparable metrics.
Valuation Metrics
GLAD leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 7.8x trailing earnings, GLAD trades at a 38% valuation discount to SAJ's 12.7x P/E. On an enterprise value basis, GLAD's 6.7x EV/EBITDA is more attractive than SAJ's 32.8x.
| Metric | SAJSaratoga Investme… | GLADGladstone Capital… |
|---|---|---|
| Market CapShares × price | $414M | $452M |
| Enterprise ValueMkt cap + debt − cash | $1.0B | $817M |
| Trailing P/EPrice ÷ TTM EPS | 12.70x | 7.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 10.34x | 10.31x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 32.78x | 6.68x |
| Price / SalesMarket cap ÷ Revenue | 4.40x | 3.12x |
| Price / BookPrice ÷ Book value/share | 0.91x | 0.94x |
| Price / FCFMarket cap ÷ FCF | 2.10x | 10.35x |
GLAD leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
GLAD leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
SAJ delivers a 9.3% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $6 for GLAD. GLAD carries lower financial leverage with a 0.83x debt-to-equity ratio, signaling a more conservative balance sheet compared to SAJ's 1.99x. On the Piotroski fundamental quality scale (0–9), SAJ scores 8/9 vs GLAD's 5/9, reflecting strong financial health.
| Metric | SAJSaratoga Investme… | GLADGladstone Capital… |
|---|---|---|
| ROE (TTM)Return on equity | +9.3% | +5.7% |
| ROA (TTM)Return on assets | +3.2% | +3.2% |
| ROICReturn on invested capital | +2.0% | +7.2% |
| ROCEReturn on capital employed | +2.7% | +9.4% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 5 |
| Debt / EquityFinancial leverage | 1.99x | 0.83x |
| Net DebtTotal debt minus cash | $634M | $365M |
| Cash & Equiv.Liquid assets | $148M | $32M |
| Total DebtShort + long-term debt | $782M | $398M |
| Interest CoverageEBIT ÷ Interest expense | 0.83x | 1.27x |
GLAD leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
GLAD leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in GLAD five years ago would be worth $13,485 today (with dividends reinvested), compared to $13,040 for SAJ. Over the past 12 months, SAJ leads with a +7.9% total return vs GLAD's -12.8%. The 3-year compound annual growth rate (CAGR) favors GLAD at 12.0% vs SAJ's 8.1% — a key indicator of consistent wealth creation.
| Metric | SAJSaratoga Investme… | GLADGladstone Capital… |
|---|---|---|
| YTD ReturnYear-to-date | +2.3% | -0.5% |
| 1-Year ReturnPast 12 months | +7.9% | -12.8% |
| 3-Year ReturnCumulative with dividends | +26.3% | +40.4% |
| 5-Year ReturnCumulative with dividends | +30.4% | +34.8% |
| 10-Year ReturnCumulative with dividends | +30.4% | +174.7% |
| CAGR (3Y)Annualised 3-year return | +8.1% | +12.0% |
GLAD leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
SAJ leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
SAJ is the less volatile stock with a 0.73 beta — it tends to amplify market swings less than GLAD's 0.73 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SAJ currently trades 95.3% from its 52-week high vs GLAD's 67.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | SAJSaratoga Investme… | GLADGladstone Capital… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.73x | 0.73x |
| 52-Week HighHighest price in past year | $26.92 | $29.50 |
| 52-Week LowLowest price in past year | $7.05 | $16.54 |
| % of 52W HighCurrent price vs 52-week peak | +95.3% | +67.8% |
| RSI (14)Momentum oscillator 0–100 | 59.9 | 58.0 |
| Avg Volume (50D)Average daily shares traded | 2K | 224K |
SAJ leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
GLAD leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
For income investors, GLAD offers the higher dividend yield at 12.25% vs SAJ's 11.42%.
| Metric | SAJSaratoga Investme… | GLADGladstone Capital… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold |
| Price TargetConsensus 12-month target | — | $21.67 |
| # AnalystsCovering analysts | — | 14 |
| Dividend YieldAnnual dividend ÷ price | +11.4% | +12.2% |
| Dividend StreakConsecutive years of raises | 4 | 4 |
| Dividend / ShareAnnual DPS | $2.93 | $2.45 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
GLAD leads this category, winning 1 of 1 comparable metric.
Key Takeaway
GLAD leads in 5 of 6 categories (Income & Cash Flow, Valuation Metrics). SAJ leads in 1 (Risk & Volatility).
Best OverallGladstone Capital Corporati… (GLAD)Leads 5 of 6 categories
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SAJ vs GLAD: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is SAJ or GLAD a better buy right now?
For growth investors, Saratoga Investment Corp 8.
00% (SAJ) is the stronger pick with 35. 4% revenue growth year-over-year, versus 20. 4% for Gladstone Capital Corporation (GLAD). Gladstone Capital Corporation (GLAD) offers the better valuation at 7. 8x trailing P/E (10. 3x forward), making it the more compelling value choice. Analysts rate Gladstone Capital Corporation (GLAD) a "Hold" — based on 14 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — SAJ or GLAD?
On trailing P/E, Gladstone Capital Corporation (GLAD) is the cheapest at 7.
8x versus Saratoga Investment Corp 8. 00% at 12. 7x. On forward P/E, Gladstone Capital Corporation is actually cheaper at 10. 3x.
03Which is the better long-term investment — SAJ or GLAD?
Over the past 5 years, Gladstone Capital Corporation (GLAD) delivered a total return of +34.
8%, compared to +30. 4% for Saratoga Investment Corp 8. 00% (SAJ). Over 10 years, the gap is even starker: GLAD returned +174. 7% versus SAJ's +30. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — SAJ or GLAD?
By beta (market sensitivity over 5 years), Saratoga Investment Corp 8.
00% (SAJ) is the lower-risk stock at 0. 73β versus Gladstone Capital Corporation's 0. 73β — meaning GLAD is approximately 0% more volatile than SAJ relative to the S&P 500. On balance sheet safety, Gladstone Capital Corporation (GLAD) carries a lower debt/equity ratio of 83% versus 199% for Saratoga Investment Corp 8. 00% — giving it more financial flexibility in a downturn.
05Which is growing faster — SAJ or GLAD?
By revenue growth (latest reported year), Saratoga Investment Corp 8.
00% (SAJ) is pulling ahead at 35. 4% versus 20. 4% for Gladstone Capital Corporation (GLAD). On earnings-per-share growth, the picture is similar: Saratoga Investment Corp 8. 00% grew EPS 184. 5% year-over-year, compared to -41. 2% for Gladstone Capital Corporation. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — SAJ or GLAD?
Gladstone Capital Corporation (GLAD) is the more profitable company, earning 40.
1% net margin versus 29. 8% for Saratoga Investment Corp 8. 00% — meaning it keeps 40. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GLAD leads at 55. 5% versus 33. 9% for SAJ. At the gross margin level — before operating expenses — GLAD leads at 87. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is SAJ or GLAD more undervalued right now?
On forward earnings alone, Gladstone Capital Corporation (GLAD) trades at 10.
3x forward P/E versus 10. 3x for Saratoga Investment Corp 8. 00% — 0. 0x cheaper on a one-year earnings basis.
08Which pays a better dividend — SAJ or GLAD?
All stocks in this comparison pay dividends.
Gladstone Capital Corporation (GLAD) offers the highest yield at 12. 2%, versus 11. 4% for Saratoga Investment Corp 8. 00% (SAJ).
09Is SAJ or GLAD better for a retirement portfolio?
For long-horizon retirement investors, Gladstone Capital Corporation (GLAD) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
73), 12. 2% yield, +174. 7% 10Y return). Both have compounded well over 10 years (GLAD: +174. 7%, SAJ: +30. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between SAJ and GLAD?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(SAJ: 35.4% · GLAD: 20.4%)Net Margin>
%
(SAJ: 29.8% · GLAD: 40.1%)P/E Ratio<
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