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Saratoga Investment Corp.(SAR)Earnings, Financials & Key Ratios
SAR•NYSE•Banking & Credit
9.6× P/E·Price updated Jun 19, 2026
AboutSaratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity. The firm prefers to invest in aerospace, automotive aftermarket and services, business products and services, consumer products and services, education, environmental services, industrial services, financial services, food and beverage, healthcare products and services, logistics, distribution, manufacturing, restaurants services, food services, software services, technology services, specialty chemical, media and telecommunications. It seeks to invest in the United States. The firm primarily invests $5 million to $50 million in companies having EBITDA of $2 million or greater and revenues of $8 million to $250 million. The firm prefer to take a majority stake. It invests through direct lending as well as participation in loan syndicates. The firm was formerly known as GSC Investment Corp. Saratoga Investment Corp. is based in New York, New York with an additional office in Florham Park, New Jersey.Show more
- Net Interest Income$0-100.0%
- Total Revenue$125.71B+133405.6%
- Net Income$0-100.0%
- Net Interest Margin0%-100.0%
- Efficiency Ratio70.72%+556.8%
- Equity / Assets-26.73%-181.1%
- Book Value per Share-6569.13-23374.5%
SAR Key Insights
Saratoga Investment Corp. (SAR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Diversified revenue: 100.0% from non-interest income
✗Weaknesses
- ✗Weak 3Y average ROE of 4.9%
- ✗Weak Piotroski F-Score: 1/9
- ✗Thin capital base
- ✗Shares diluted 13.9% in last year
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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SAR Price & Volume
Saratoga Investment Corp. (SAR) stock price & volume — 10-year historical chart
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SAR Growth Metrics
Saratoga Investment Corp. (SAR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years135.21%
5 Years400.79%
3 Years1116.37%
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM39.63%
EPS CAGR
10 Years1.01%
5 Years11.84%
3 Years3.89%
TTM49.24%
Return on Capital
10 Years4.15%
5 Years2.57%
3 Years1.15%
Last Year-0.28%
SAR Recent Earnings
Saratoga Investment Corp. (SAR) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$0.53+0.0%
$0.53
Rev
$31M+0.9%
$31M
Q1 2026
Jan 7, 2026Metric
Actual
Est
EPS
$0.61+3.4%
$0.59
Rev
$32M+2.3%
$31M
Q4 2025
Oct 7, 2025Metric
Actual
Est
EPS
$0.58-13.4%
$0.67
Rev
$33M+0.4%
$33M
Q3 2025
Jul 8, 2025Metric
Actual
Est
EPS
$0.66-4.3%
$0.69
Rev
$29M-10.7%
$33M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.53vs $0.53+0.0% | $31Mvs $31M+0.9% |
| Q1 2026 | Jan 7, 2026 | $0.61vs $0.59+3.4% | $32Mvs $31M+2.3% |
| Q4 2025 | Oct 7, 2025 | $0.58vs $0.67-13.4% | $33Mvs $33M+0.4% |
| Q3 2025 | Jul 8, 2025 | $0.66vs $0.69-4.3% | $29Mvs $33M-10.7% |
Based on last 12 quarters of dataView full earnings history →
SAR Peer Comparison
Saratoga Investment Corp. (SAR) competitors in Private credit and BDC lenders — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 GAIN | 588.57M | 14.78 | 3.10 | -20.47% | 173.56% | 34.04% | 0.84 | |
 SLRC | 677.57M | 12.42 | 7.31 | 24.76% | 39.78% | 7.31% | 1.15 | |
 PFLT | 742.15M | 7.48 | 10.39 | 2.2% | 34.83% | 5.84% | 1.65 | |
 TPVG | 202.99M | 5.00 | 4.10 | 36.55% | -19.55% | -3.39% | 1.33 | |
 CSWC | 1.43B | 22.98 | 12.09 | 50.13% | 50.89% | 11.68% | 1.12 | |
 MRCC | 110.06M | 5.08 | 9.58 | -39.74% | -72.87% | -2.9% | 1.15 | |
 HRZN | 186.22M | 4.22 | 4.02 | 17.91% | 37.39% | 8.95% | 1.49 | |
 ARCC | 12.95B | 18.03 | 9.69 | 32.87% | 43.69% | 8.11% | 1.12 |
Compare SAR vs Peers
Saratoga Investment Corp. (SAR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SAR Income Statement
Saratoga Investment Corp. (SAR) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Feb'18 | Feb'19 | Feb'20 | Feb'21 | Feb'22 | Feb'23 | Feb'24 | Feb'25 | Feb'26 |
|---|---|---|---|---|---|---|---|---|---|
Net Interest Income | 24.2M | 30.24M | 33.9M | 38.14M | 38.62M | 53.09M | 81.12M | 85.49M | 0 |
NII Growth % | 24.15% | 24.95% | 12.12% | 12.51% | 1.27% | 37.44% | 52.8% | 5.39% | -100% |
Net Interest Margin % | 6.72% | 6.42% | 6.39% | 6.44% | 4.41% | 4.92% | 6.81% | 7.17% | 0% |
Interest Income | 35.14M | 43.36M | 48.58M | 51.73M | 58.51M | 86.59M | 130.3M | 137.55M | 0 |
Interest Expense | 10.94M | 13.13M | 14.68M | 13.59M | 19.88M | 33.5M | 49.18M | 52.06M | 49.3B |
Loan Loss Provision | 346 | 282 | 389 | -201 | 307 | -489 | 101 | 0 | -49.3B |
Non-Interest Income | -1.76M | -5.45M | 29.71M | -11.82M | 18.96M | -16.73M | -60.75M | -43.39M | 125.71B |
Non-Interest Income % | -5.26% | -14.37% | 37.95% | -29.61% | 24.47% | -23.96% | -87.36% | -46.08% | 100% |
Total Revenue | 33.38M▲ 0% | 37.91M▲ 13.6% | 78.29M▲ 106.5% | 39.91M▼ 49.0% | 77.46M▲ 94.1% | 69.85M▼ 9.8% | 69.55M▼ 0.4% | 94.16M▲ 35.4% | 125.71B▲ 133405.6% |
Revenue Growth % | 23.46% | 13.57% | 106.51% | -49.02% | 94.09% | -9.83% | -0.44% | 35.4% | 133405.64% |
Non-Interest Expense | 4.78M | 5.54M | 7.26M | 6.38M | 9.06M | 9.6M | 8.66M | 10.14M | 88.91B |
Efficiency Ratio | 14.32% | 14.6% | 9.28% | 16% | 11.7% | 13.74% | 12.46% | 10.77% | 70.72% |
Operating Income | 17.66M▲ 0% | 19.25M▲ 9.0% | 56.35M▲ 192.7% | 19.94M▼ 64.6% | 48.52M▲ 143.3% | 26.76M▼ 44.9% | 11.7M▼ 56.3% | 31.97M▲ 173.2% | -138.17M▼ 532.2% |
Operating Margin % | 52.92% | 50.77% | 71.97% | 49.96% | 62.63% | 38.31% | 16.82% | 33.95% | -0.11% |
Operating Income Growth % | 54.51% | 8.97% | 192.72% | -64.61% | 143.32% | -44.85% | -56.27% | 173.22% | -532.24% |
Pretax Income | 17.66M▲ 0% | 19.25M▲ 9.0% | 56.35M▲ 192.7% | 19.94M▼ 64.6% | 48.52M▲ 143.3% | 26.76M▼ 44.9% | 11.7M▼ 56.3% | 31.97M▲ 173.2% | -138.17M▼ 532.2% |
Pretax Margin % | 52.92% | 50.77% | 71.97% | 49.96% | 62.63% | 38.31% | 16.82% | 33.95% | -0.11% |
Income Tax | -14.74K | 739.72K | 607.65K | 5.16M | 2.78M | 2.08M | 2.77M | 3.88M | -138.17M |
Effective Tax Rate % | -0.08% | 3.84% | 1.08% | 25.89% | 5.73% | 7.78% | 23.64% | 12.14% | 100% |
Net Income | 17.68M▲ 0% | 18.51M▲ 4.7% | 55.74M▲ 201.1% | 14.78M▼ 73.5% | 45.74M▲ 209.5% | 24.68M▼ 46.0% | 8.93M▼ 63.8% | 28.09M▲ 214.4% | 0▼ 100.0% |
Net Margin % | 52.96% | 48.82% | 71.19% | 37.02% | 59.04% | 35.33% | 12.85% | 29.83% | 0% |
Net Income Growth % | 55.25% | 4.7% | 201.14% | -73.49% | 209.5% | -46.05% | -63.8% | 214.38% | -100% |
Net Income (Continuing) | 17.68M | 18.51M | 55.74M | 14.78M | 45.74M | 24.68M | 8.93M | 28.09M | 0 |
EPS (Diluted) | 2.93▲ 0% | 2.63▼ 10.2% | 5.98▲ 127.4% | 1.32▼ 77.9% | 3.99▲ 202.3% | 2.06▼ 48.4% | 0.71▼ 65.5% | 2.02▲ 184.5% | 2.31▲ 14.4% |
EPS Growth % | 47.98% | -10.24% | 127.38% | -77.93% | 202.27% | -48.37% | -65.53% | 184.51% | 14.36% |
EPS (Basic) | 2.93 | 2.63 | 5.98 | 1.32 | 3.99 | 2.06 | 0.71 | 2.02 | 2.31 |
Diluted Shares Outstanding | 6.02M | 7.05M | 9.32M | 11.19M | 11.46M | 11.96M | 12.67M | 13.91M | 15.85M |
SAR Balance Sheet
Saratoga Investment Corp. (SAR) balance sheet — assets, liabilities & shareholders' equity
| Metric | Feb'18 | Feb'19 | Feb'20 | Feb'21 | Feb'22 | Feb'23 | Feb'24 | Feb'25 | Feb'26 |
|---|---|---|---|---|---|---|---|---|---|
Cash & Short Term Investments | 3.93M | 30.8M | 24.6M | 18.83M | 47.26M | 65.75M | 8.69M | 148.22M | 22.32B |
Cash & Due from Banks | 3.93M | 30.8M | 24.6M | 18.83M | 47.26M | 65.75M | 8.69M | 148.22M | 22.32B |
Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Total Investments | 342.69M | 402.02M | 485.63M | 554.31M | 817.57M | 972.59M | 1.14B | 978.08M | 354.12B |
Investments Growth % | 36.79% | 17.31% | 20.8% | 14.14% | 47.49% | 18.96% | 17.09% | -14.11% | 36105.36% |
Long-Term Investments | 342.69M | 402.02M | 485.63M | 554.31M | 817.57M | 972.59M | 1.14B | 978.08M | 0 |
Accounts Receivables | 3.28M | 5.96M | 5.08M | 6.98M | 5.55M | 8.52M | 10.64M | 7.79M | 2.12B |
Goodwill & Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Assets | 10.43M | 31.89M | 15.55M | 12.03M | 5.87M | 31.3M | 33.08M | 57.46M | 0 |
Total Current Assets | 7.21M | 36.76M | 29.68M | 25.81M | 52.8M | 74.27M | 19.33M | 156.01M | 24.43B |
Total Non-Current Assets | 353.13M | 433.91M | 501.18M | 566.35M | 823.43M | 1B | 1.17B | 1.04B | 0 |
Total Assets | 360.34M▲ 0% | 470.67M▲ 30.6% | 530.87M▲ 12.8% | 592.15M▲ 11.5% | 876.24M▲ 48.0% | 1.08B▲ 23.0% | 1.19B▲ 10.5% | 1.19B▲ 0.0% | 389.58B▲ 32595.6% |
Asset Growth % | 13.08% | 30.62% | 12.79% | 11.54% | 47.98% | 23.04% | 10.49% | 0.03% | 32595.56% |
Return on Assets (ROA) | 5.21% | 4.45% | 11.13% | 2.63% | 6.23% | 2.53% | 0.79% | 2.36% | - |
Accounts Payable | 3.93M | 4.84M | 3.95M | 4.4M | 3.6M | 5.12M | 4.92M | 5.59M | 0 |
Total Debt | 206.49M | 277.15M | 204.88M | 274.05M | 498.88M | 711.13M | 803.67M | 781.82M | 293.33B |
Net Debt | 202.56M | 246.35M | 180.28M | 255.22M | 451.62M | 645.38M | 794.98M | 633.6M | 271.01B |
Long-Term Debt | 206.49M | 277.15M | 204.88M | 274.05M | 498.88M | 711.13M | 803.67M | 781.82M | 0 |
Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 293.33B |
Other Liabilities | 6.23M | 7.81M | 17.75M | 9.52M | 17.98M | 14.96M | 12.39M | 11.47M | 200.38B |
Total Current Liabilities | 3.93M | 4.84M | 3.95M | 4.4M | 3.6M | 5.12M | 4.92M | 5.59M | 293.33B |
Total Non-Current Liabilities | 212.72M | 284.96M | 222.63M | 283.57M | 516.86M | 726.08M | 816.06M | 793.29M | 200.38B |
Total Liabilities | 216.64M | 289.8M | 226.58M | 287.97M | 520.46M | 731.2M | 820.98M | 798.88M | 493.7B |
Total Equity | 143.69M▲ 0% | 180.88M▲ 25.9% | 304.29M▲ 68.2% | 304.19M▼ 0.0% | 355.78M▲ 17.0% | 346.96M▼ 2.5% | 370.22M▲ 6.7% | 392.67M▲ 6.1% | -104.12B▼ 26616.9% |
Equity Growth % | 12.88% | 25.88% | 68.23% | -0.03% | 16.96% | -2.48% | 6.71% | 6.06% | -26616.86% |
Equity / Assets (Capital Ratio) | 39.88% | 38.43% | 57.32% | 51.37% | 40.6% | 32.18% | 31.08% | 32.95% | -26.73% |
Return on Equity (ROE) | 13.05% | 11.41% | 22.98% | 4.86% | 13.86% | 7.02% | 2.49% | 7.36% | - |
Book Value per Share | 23.85 | 25.67 | 32.65 | 27.19 | 31.05 | 29.00 | 29.22 | 28.22 | -6569.13 |
Tangible BV per Share | 23.85 | 25.67 | 32.65 | 27.19 | 31.05 | 29.00 | 29.22 | 28.22 | -6569.13 |
Common Stock | 6.26K | 7.66K | 11.22K | 11.16K | 12.13K | 11.89K | 13.65K | 15.18K | 250K |
Additional Paid-in Capital | 188.98M | 203.55M | 289.48M | 304.87M | 328.06M | 321.89M | 371.08M | 412.91M | 0 |
Retained Earnings | -27.86M | -22.69M | 14.8M | -700.35K | 27.71M | 25.05M | -870.75K | -20.26M | 0 |
Accumulated OCI | -17.43M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SAR Cash Flow Statement
Saratoga Investment Corp. (SAR) cash flow — operating, investing & free cash flow history
| Metric | Feb'18 | Feb'19 | Feb'20 | Feb'21 | Feb'22 | Feb'23 | Feb'24 | Feb'25 | Feb'26 |
|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | -30.78M | -39.98M | -15.14M | -62.35M | -203.13M | -130.37M | -157.21M | 197.54M | -88.03B |
Operating CF Growth % | -556.65% | -29.9% | 62.12% | -311.67% | -225.81% | 35.82% | -20.58% | 225.66% | -44663.33% |
Net Income | 17.68M | 18.51M | 55.74M | 14.78M | 45.74M | 24.68M | 8.93M | 28.09M | 0 |
Depreciation & Amortization | 990.03M | 1.19M | 1.34M | 1.37M | 4.42B | 3.59M | 0 | 5.03M | 4.8B |
Deferred Taxes | 0 | -1.03M | 0 | 0 | -673.65K | 0 | 0 | 0 | -196.31M |
Other Non-Cash Items | -1.04B | -57.56M | -81.42M | -67.98M | -4.68B | -151.87M | -159.99M | 162.61M | -92.64B |
Working Capital Changes | 587.24K | -1.09M | 9.2M | -10.52M | 10.46M | -6.76M | -6.15M | 1.81M | 0 |
Cash from Investing | -41.39B | -198.66B | -19.89B | -78.08B | -55.08B | 2.25B | 0 | 0 | -124.87B |
Purchase of Investments | -107.7B | -378.52B | -230B | -220.78B | -302.31B | -122.08B | -246.1B | -28.99B | -309.5B |
Sale/Maturity of Investments | 66.31B | 179.86B | 210.11B | 142.7B | 247.23B | 124.33B | 30.27B | 139.64B | 184.64B |
Net Investment Activity | -41.39B | -198.66B | -19.89B | -78.08B | -55.08B | 2.25B | -215.83B | 110.64B | -124.87B |
Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 215.83B | -110.64B | 0 |
Cash from Financing | 22.47M | 88.3M | -7.5M | 52.81M | 226.09M | 173.58M | 101.64M | -33.32M | -94.91B |
Dividends Paid | -9.01M | -12.01M | -17M | -11.27M | -18.16M | -22.67M | -32.05M | -40.75M | -52.36B |
Share Repurchases | 0 | 0 | 0 | -3.61M | -2.55M | -10.82M | -2.16M | 0 | -54.31M |
Stock Issued | 7.84M | 32.15M | 85.9M | 0 | 26.84M | 0 | 49.01M | 32.75M | 18.75B |
Net Stock Activity | 7.84M | 32.15M | 85.9M | -3.61M | 24.29M | -10.82M | 46.86M | 32.75M | 18.7B |
Debt Issuance (Net) | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 0 |
Other Financing | -1.28M | -2.88M | -1.95M | -3.75K | -10.79M | -10.68M | -5.17M | 2.35M | -42.55B |
Net Change in Cash | -8.31M▲ 0% | 48.32M▲ 681.4% | -22.64M▼ 146.9% | -9.54M▲ 57.9% | 22.96M▲ 340.7% | 43.21M▲ 88.2% | -55.57M▼ 228.6% | 164.22M▲ 395.5% | -182.94B▼ 111500.4% |
Exchange Rate Effect | 41.39B | 198.66B | 19.89B | 78.08B | 55.08B | -2.25B | 0 | 0 | 0 |
Cash at Beginning | 22.09M | 13.78M | 62.09M | 39.45M | 29.92M | 52.87M | 96.08M | 40.51M | 204.72B |
Cash at End | 13.78M | 62.09M | 39.45M | 29.92M | 52.87M | 96.08M | 40.51M | 204.72M | 21.79B |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Income Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Free Cash Flow | -30.78M▲ 0% | -39.98M▼ 29.9% | -15.14M▲ 62.1% | -62.35M▼ 311.7% | -203.13M▼ 225.8% | -130.37M▲ 35.8% | -157.21M▼ 20.6% | 197.54M▲ 225.7% | -88.03B▼ 44663.3% |
FCF Growth % | -556.65% | -29.9% | 62.12% | -311.67% | -225.81% | 35.82% | -20.58% | 225.66% | -44663.33% |
SAR Banking Ratios
Saratoga Investment Corp. (SAR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 9.02% | 13.05% | 11.41% | 22.98% | 4.86% | 13.86% | 7.02% | 2.49% | 7.36% | - |
Return on Assets (ROA) | 3.71% | 5.21% | 4.45% | 11.13% | 2.63% | 6.23% | 2.53% | 0.79% | 2.36% | - |
Net Interest Margin | 6.12% | 6.72% | 6.42% | 6.39% | 6.44% | 4.41% | 4.92% | 6.81% | 7.17% | 0% |
Efficiency Ratio | 21.14% | 14.32% | 14.6% | 9.28% | 16% | 11.7% | 13.74% | 12.46% | 10.77% | 70.72% |
Equity / Assets | 39.95% | 39.88% | 38.43% | 57.32% | 51.37% | 40.6% | 32.18% | 31.08% | 32.95% | -26.73% |
Book Value / Share | 22.18 | 23.85 | 25.67 | 32.65 | 27.19 | 31.05 | 29 | 29.22 | 28.22 | -6.57K |
NII Growth | 5.82% | 24.15% | 24.95% | 12.12% | 12.51% | 1.27% | 37.44% | 52.8% | 5.39% | -100% |
Dividend Payout | 59.59% | 50.98% | 64.9% | 30.5% | 76.24% | 39.7% | 91.85% | 358.79% | 145.08% | - |
Related:SAR Dividend History·SAR Revenue History·SAR Price History·SAR P/E History·SAR Financial Ratios·SAR Institutional Holders
SAR SEC Filings & Documents
Saratoga Investment Corp. (SAR) SEC filings — annual & quarterly reports (10-K, 10-Q)
SAR Frequently Asked Questions
Saratoga Investment Corp. (SAR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Saratoga Investment Corp. (SAR) grew revenue by 133405.6% over the past year. This is strong growth.
Yes, Saratoga Investment Corp. (SAR) is profitable, generating $39.2M in net income for fiscal year 2026 (0.1% net margin).
Dividend & Returns
Yes, Saratoga Investment Corp. (SAR) pays a dividend with a yield of 100.00%. This makes it attractive for income-focused investors.
Industry Metrics
Saratoga Investment Corp. (SAR) has a net interest margin (NIM) of N/A. NIM has been under pressure due to interest rate environment.
Saratoga Investment Corp. (SAR) has an efficiency ratio of 70.7%. This is higher than peers, suggesting room for cost optimization.