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 GAIN
Revenue, margins, valuation, and 5-year total return — side by side.
GAIN
Gladstone Investment Corporation
Asset Management
Market Cap$657M
5Y Perf.+18.0%
SAJ vs GAIN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | SAJ | GAIN |
|---|---|---|
| Industry | Investment - Banking & Investment Services | Asset Management |
| Market Cap | $414M | $657M |
| Revenue (TTM) | $94M | $90M |
| Net Income (TTM) | $39M | $130M |
| Gross Margin | 44.7% | 68.6% |
| Operating Margin | 33.9% | 72.7% |
| Forward P/E | 10.3x | 40.7x |
| Total Debt | $782M | $456M |
| Cash & Equiv. | $148M | $14M |
SAJ vs GAIN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
SAJ
GAIN
| Stock | Nov 22 | May 26 | Return |
|---|---|---|---|
| Saratoga Investment… (SAJ) | 100 | 102.1 | +2.1% |
| Gladstone Investmen… (GAIN) | 100 | 118.0 | +18.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: SAJ vs GAIN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: GAIN leads in 4 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Saratoga Investment Corp 8.00% is the stronger pick specifically for growth and revenue expansion and valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
SAJ
Saratoga Investment Corp 8.00%
The Banking Pick
SAJ is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 4 yrs, beta 0.73, yield 11.4%
- Rev growth 35.4%, EPS growth 184.5%
- Beta 0.73, yield 11.4%, current ratio 27.93x
Best for: income & stability and growth exposure
GAIN
Gladstone Investment Corporation
The Banking Pick
GAIN carries the broadest edge in this set and is the clearest fit for long-term compounding and sleep-well-at-night.
- 319.3% 10Y total return vs SAJ's 30.4%
- Lower volatility, beta 0.53, Low D/E 91.3%, current ratio 3.69x
- 72.7% margin vs SAJ's 29.8%
Best for: long-term compounding and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | SAJ | 35.4% NII/revenue growth vs GAIN's -12.9% |
| Value | SAJ | Lower P/E (10.3x vs 40.7x) |
| Quality / Margins | GAIN | 72.7% margin vs SAJ's 29.8% |
| Stability / Safety | GAIN | Beta 0.53 vs SAJ's 0.73, lower leverage |
| Dividends | SAJ | 11.4% yield, 4-year raise streak, vs GAIN's 10.0% |
| Momentum (1Y) | GAIN | +30.8% vs SAJ's +7.9% |
| Efficiency (ROA) | GAIN | 10.5% ROA vs SAJ's 3.2%, ROIC 5.3% vs 2.0% |
SAJ vs GAIN — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLGAINLAGGINGSAJ
SAJSaratoga Investment C…
2leads
GAINGladstone Investment …
4leads
6 Total Categories
CATEGORYLEADERvs SAJMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
GAIN4/5
Valuation MetricsMultiples, price ratios, and targets
SAJ4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
GAIN8/9
Total Returns1Y, 3Y, 5Y total returns with dividends
GAIN6/6
Risk & VolatilityBeta, volatility, and downside exposure
GAIN2/2
Analyst OutlookRatings, price targets, and dividends
SAJ2/2
Income & Cash Flow (Last 12 Months)
GAIN leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
SAJ and GAIN operate at a comparable scale, with $94M and $90M in trailing revenue. GAIN is the more profitable business, keeping 72.7% of every revenue dollar as net income compared to SAJ's 29.8%.
| Metric | SAJSaratoga Investme… | GAINGladstone Investm… |
|---|---|---|
| RevenueTrailing 12 months | $94M | $90M |
| EBITDAEarnings before interest/tax | $1.3B | $58M |
| Net IncomeAfter-tax profit | $39M | $130M |
| Free Cash FlowCash after capex | $23M | -$82M |
| Gross MarginGross profit ÷ Revenue | +44.7% | +68.6% |
| Operating MarginEBIT ÷ Revenue | +33.9% | +72.7% |
| Net MarginNet income ÷ Revenue | +29.8% | +72.7% |
| FCF MarginFCF ÷ Revenue | +2.1% | +126.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +15.6% | +58.1% |
GAIN leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
SAJ leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 9.3x trailing earnings, GAIN trades at a 27% valuation discount to SAJ's 12.7x P/E. On an enterprise value basis, GAIN's 16.8x EV/EBITDA is more attractive than SAJ's 32.8x.
| Metric | SAJSaratoga Investme… | GAINGladstone Investm… |
|---|---|---|
| Market CapShares × price | $414M | $657M |
| Enterprise ValueMkt cap + debt − cash | $1.0B | $1.1B |
| Trailing P/EPrice ÷ TTM EPS | 12.70x | 9.28x |
| Forward P/EPrice ÷ next-FY EPS est. | 10.34x | 40.66x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 32.78x | 16.82x |
| Price / SalesMarket cap ÷ Revenue | 4.40x | 7.31x |
| Price / BookPrice ÷ Book value/share | 0.91x | 1.22x |
| Price / FCFMarket cap ÷ FCF | 2.10x | 5.77x |
SAJ leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
GAIN leads this category, winning 8 of 9 comparable metrics.
Profitability & Efficiency
GAIN delivers a 21.9% return on equity — every $100 of shareholder capital generates $22 in annual profit, vs $9 for SAJ. GAIN carries lower financial leverage with a 0.91x 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 GAIN's 4/9, reflecting strong financial health.
| Metric | SAJSaratoga Investme… | GAINGladstone Investm… |
|---|---|---|
| ROE (TTM)Return on equity | +9.3% | +21.9% |
| ROA (TTM)Return on assets | +3.2% | +10.5% |
| ROICReturn on invested capital | +2.0% | +5.3% |
| ROCEReturn on capital employed | +2.7% | +6.8% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 4 |
| Debt / EquityFinancial leverage | 1.99x | 0.91x |
| Net DebtTotal debt minus cash | $634M | $441M |
| Cash & Equiv.Liquid assets | $148M | $14M |
| Total DebtShort + long-term debt | $782M | $456M |
| Interest CoverageEBIT ÷ Interest expense | 0.83x | 1.58x |
GAIN leads this category, winning 8 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
GAIN leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in GAIN five years ago would be worth $17,205 today (with dividends reinvested), compared to $13,040 for SAJ. Over the past 12 months, GAIN leads with a +30.8% total return vs SAJ's +7.9%. The 3-year compound annual growth rate (CAGR) favors GAIN at 16.1% vs SAJ's 8.1% — a key indicator of consistent wealth creation.
| Metric | SAJSaratoga Investme… | GAINGladstone Investm… |
|---|---|---|
| YTD ReturnYear-to-date | +2.3% | +20.7% |
| 1-Year ReturnPast 12 months | +7.9% | +30.8% |
| 3-Year ReturnCumulative with dividends | +26.3% | +56.5% |
| 5-Year ReturnCumulative with dividends | +30.4% | +72.0% |
| 10-Year ReturnCumulative with dividends | +30.4% | +319.3% |
| CAGR (3Y)Annualised 3-year return | +8.1% | +16.1% |
GAIN leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
GAIN leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
GAIN is the less volatile stock with a 0.53 beta — it tends to amplify market swings less than SAJ's 0.73 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | SAJSaratoga Investme… | GAINGladstone Investm… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.73x | 0.53x |
| 52-Week HighHighest price in past year | $26.92 | $17.14 |
| 52-Week LowLowest price in past year | $7.05 | $13.11 |
| % of 52W HighCurrent price vs 52-week peak | +95.3% | +96.3% |
| RSI (14)Momentum oscillator 0–100 | 59.9 | 69.9 |
| Avg Volume (50D)Average daily shares traded | 2K | 371K |
GAIN leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
SAJ leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
For income investors, SAJ offers the higher dividend yield at 11.42% vs GAIN's 10.05%.
| Metric | SAJSaratoga Investme… | GAINGladstone Investm… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold |
| Price TargetConsensus 12-month target | — | $15.00 |
| # AnalystsCovering analysts | — | 7 |
| Dividend YieldAnnual dividend ÷ price | +11.4% | +10.0% |
| Dividend StreakConsecutive years of raises | 4 | 0 |
| Dividend / ShareAnnual DPS | $2.93 | $1.66 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
SAJ leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
GAIN leads in 4 of 6 categories (Income & Cash Flow, Profitability & Efficiency). SAJ leads in 2 (Valuation Metrics, Analyst Outlook).
Best OverallGladstone Investment Corpor… (GAIN)Leads 4 of 6 categories
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SAJ vs GAIN: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is SAJ or GAIN 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 -12. 9% for Gladstone Investment Corporation (GAIN). Gladstone Investment Corporation (GAIN) offers the better valuation at 9. 3x trailing P/E (40. 7x forward), making it the more compelling value choice. Analysts rate Gladstone Investment Corporation (GAIN) a "Hold" — based on 7 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 GAIN?
On trailing P/E, Gladstone Investment Corporation (GAIN) is the cheapest at 9.
3x versus Saratoga Investment Corp 8. 00% at 12. 7x. On forward P/E, Saratoga Investment Corp 8. 00% is actually cheaper at 10. 3x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — SAJ or GAIN?
Over the past 5 years, Gladstone Investment Corporation (GAIN) delivered a total return of +72.
0%, compared to +30. 4% for Saratoga Investment Corp 8. 00% (SAJ). Over 10 years, the gap is even starker: GAIN returned +319. 3% 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 GAIN?
By beta (market sensitivity over 5 years), Gladstone Investment Corporation (GAIN) is the lower-risk stock at 0.
53β versus Saratoga Investment Corp 8. 00%'s 0. 73β — meaning SAJ is approximately 37% more volatile than GAIN relative to the S&P 500. On balance sheet safety, Gladstone Investment Corporation (GAIN) carries a lower debt/equity ratio of 91% versus 199% for Saratoga Investment Corp 8. 00% — giving it more financial flexibility in a downturn.
05Which is growing faster — SAJ or GAIN?
By revenue growth (latest reported year), Saratoga Investment Corp 8.
00% (SAJ) is pulling ahead at 35. 4% versus -12. 9% for Gladstone Investment Corporation (GAIN). On earnings-per-share growth, the picture is similar: Saratoga Investment Corp 8. 00% grew EPS 184. 5% year-over-year, compared to -27. 9% for Gladstone Investment 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 GAIN?
Gladstone Investment Corporation (GAIN) is the more profitable company, earning 72.
7% net margin versus 29. 8% for Saratoga Investment Corp 8. 00% — meaning it keeps 72. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GAIN leads at 72. 7% versus 33. 9% for SAJ. At the gross margin level — before operating expenses — GAIN leads at 68. 6%, 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 GAIN more undervalued right now?
On forward earnings alone, Saratoga Investment Corp 8.
00% (SAJ) trades at 10. 3x forward P/E versus 40. 7x for Gladstone Investment Corporation — 30. 3x cheaper on a one-year earnings basis.
08Which pays a better dividend — SAJ or GAIN?
All stocks in this comparison pay dividends.
Saratoga Investment Corp 8. 00% (SAJ) offers the highest yield at 11. 4%, versus 10. 0% for Gladstone Investment Corporation (GAIN).
09Is SAJ or GAIN better for a retirement portfolio?
For long-horizon retirement investors, Gladstone Investment Corporation (GAIN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
53), 10. 0% yield, +319. 3% 10Y return). Both have compounded well over 10 years (GAIN: +319. 3%, 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 GAIN?
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.
In terms of investment character: SAJ is a small-cap high-growth stock; GAIN is a small-cap deep-value stock. 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% · GAIN: -12.9%)Net Margin>
%
(SAJ: 29.8% · GAIN: 72.7%)P/E Ratio<
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