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May 5, 2026·SEC
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Saratoga Investment Corp 8.00%(SAJ)Earnings, Financials & Key Ratios
SAJ•NYSE
$25.62
11.1× P/E·Price updated Jun 27, 2026
AboutSaratoga Investment Corp. is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates. It has elected to be treated as a business development company under the Investment Company Act of 1940. Saratoga Investment Corp. is traded on the New York Stock Exchange under the symbol ''SAR.'' Saratoga Investment Corp. includes an SBIC-licensed subsidiary.Show more
- EBITDA$86M+168.0%
- Net Income$37M+30.3%
- EPS (Diluted)2.31+14.4%
- Gross Margin75.48%+68.8%
- EBITDA Margin65.16%+91.9%
- Operating Margin65.78%+93.8%
- Net Margin27.84%-6.6%
- ROE9.28%+26.0%
SAJ Price & Volume
Saratoga Investment Corp 8.00% (SAJ) stock price & volume — 10-year historical chart
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Persistent Earnings Volatility Masks Structural Balance Risks
Investment Thesis • Updated 2026Q4
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial Position:Vulnerable
Cash Flow:Mixed
Primary Risk:Portfolio Valuation and Liquidity
"Saratoga Investment Corp faces significant fundamental uncertainty characterized by erratic revenue streams and a concerning disconnect between reported net income and cash generation. The company's reliance on external financing to sustain a 12.9% dividend yield, coupled with unexplained balance sheet fluctuations, suggests a high-risk profile for long-term investors. Future performance remains contingent on stabilizing portfolio valuations and addressing the underlying liquidity pressures evidenced by the recent collapse in the current ratio."
Verdict Logic
the company's inability to consistently cover its 12.9% dividend yield with operating cash flow and the presence of significant balance sheet anomalies warrant extreme caution.
SAJ Growth Metrics
Saratoga Investment Corp 8.00% (SAJ) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years18.41%
5 Years26.92%
3 Years23.46%
TTM-
Profit CAGR
10 Years12.13%
5 Years19.89%
3 Years14.05%
TTM30.33%
EPS CAGR
10 Years1.01%
5 Years11.84%
3 Years3.89%
TTM14.01%
Return on Capital
10 Years4.19%
5 Years2.66%
3 Years1.3%
Last Year0.18%
SAJ Recent Earnings
Saratoga Investment Corp 8.00% (SAJ) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/6 qtrs (60%)●Beat Revenue 3/6 qtrs (60%)
Q2 2026Latest
May 13, 2026Metric
Actual
Est
EPS
$0.56+0.4%
$0.56
Rev
$62.7B+203240.3%
$31M
Q1 2026
Jan 7, 2026Metric
Actual
Est
EPS
$0.61+3.7%
$0.59
Rev
$32M+2.3%
$31M
Q4 2025
Oct 7, 2025Metric
Actual
Est
EPS
$0.58-12.3%
$0.66
Rev
$30.6B-5.1%
$32.3B
Q3 2025
Jul 8, 2025Metric
Actual
Est
EPS
$0.91+26.8%
$0.72
Rev
$32M-0.2%
$32M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 13, 2026 | $0.56vs $0.56+0.4% | $62.7Bvs $31M+203240.3% |
| Q1 2026 | Jan 7, 2026 | $0.61vs $0.59+3.7% | $32Mvs $31M+2.3% |
| Q4 2025 | Oct 7, 2025 | $0.58vs $0.66-12.3% | $30.6Bvs $32.3B-5.1% |
| Q3 2025 | Jul 8, 2025 | $0.91vs $0.72+26.8% | $32Mvs $32M-0.2% |
Based on last 6 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Saratoga Investment Corp 8.00% (SAJ)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $25.62 | $414.64M | 11.09 | 39.61% | 27.84% | 9.28% | 12.89% | |
| $22.29 | $362.61M | 9.65 | 133405.64% | 0.06% | — | — | |
| $15.16 | $603.7M | 3.18 | -20.47% | 173.56% | 34.04% | — | |
| $18.96 | $428.36M | 7.44 | 20.37% | 62.31% | 8.94% | — | |
| $5.08 | $110.06M | 9.58 | -39.74% | -72.87% | -2.9% | — | |
| $4.70 | $190.82M | 3.85 | 36.55% | -19.55% | -3.39% | — |
Compare SAJ vs Peers
Saratoga Investment Corp 8.00% (SAJ) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SAJ SEC Filings & Documents
Saratoga Investment Corp 8.00% (SAJ) SEC filings — annual & quarterly reports (10-K, 10-Q)
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SAJ Frequently Asked Questions
Saratoga Investment Corp 8.00% (SAJ) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Saratoga Investment Corp 8.00%'s revenue?
Saratoga Investment Corp 8.00% (SAJ) reported $115.1M in revenue for fiscal year 2026.
How fast is Saratoga Investment Corp 8.00% growing?
Saratoga Investment Corp 8.00% (SAJ) grew revenue by 39.6% over the past year. This is strong growth.
Is SAJ profitable?
Yes, Saratoga Investment Corp 8.00% (SAJ) is profitable, generating $36.6M in net income for fiscal year 2026 (27.8% net margin).
Dividend & Returns
Does SAJ pay dividends?
Yes, Saratoga Investment Corp 8.00% (SAJ) pays a dividend with a yield of 12.89%. This makes it attractive for income-focused investors.
What is SAJ's return on equity?
Saratoga Investment Corp 8.00% (SAJ) has a return on equity (ROE) of 9.3%. This is below average, suggesting room for improvement.
What is Saratoga Investment Corp 8.00%'s free cash flow?
Saratoga Investment Corp 8.00% (SAJ) generated $51.8M in free cash flow for fiscal year 2026. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.