Saratoga Investment Corp. (SAR) Financial Ratios
20 years of historical data (2007–2026) · Financial Services · Asset Management
EV/EBITDA
↑
N/A
—
5yr avg: 44.22
30Y Low1.6·High93.5
P/FCF
N/A
—
5yr avg: 1.83
30Y Low0.5·High19.4
P/B Ratio
↑
N/A
—
5yr avg: 0.89
30Y Low0.2·High1.0
ROE
↓
N/A
—
5yr avg: 7.7%
30Y Low-26%·High24%
Debt/EBITDA
↑
N/A
—
5yr avg: 32.50
30Y Low0.5·High26.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SAR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Saratoga Investment Corp. trades at 9.7x earnings, 37% below its 5-year average of 15.3x, sitting at the 63rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.1x, the stock trades at a discount of 26%.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $363M | $367M | $362M | $299M | $330M | $315M | $258M | $214M | $162M | $132M | $131M |
| Enterprise Value | $271.4B | $271.4B | $995M | $1.1B | $975M | $766M | $513M | $394M | $409M | $334M | $303M |
| P/E Ratio → | 9.67 | 10.03 | 12.87 | 33.24 | 13.37 | 6.88 | 17.48 | 3.83 | 8.76 | 7.46 | 11.48 |
| P/S Ratio | 0.00 | 0.00 | 3.84 | 4.30 | 4.72 | 4.06 | 6.47 | 2.73 | 4.28 | 3.94 | 4.83 |
| P/B Ratio | — | — | 0.92 | 0.81 | 0.95 | 0.88 | 0.85 | 0.70 | 0.90 | 0.92 | 1.03 |
| P/FCF | — | — | 1.83 | — | — | — | — | — | — | — | 19.37 |
| P/OCF | — | — | 1.83 | — | — | — | — | — | — | — | 19.37 |
P/E links to full P/E history page with 30-year chart
SAR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.16 | 10.57 | 15.73 | 13.96 | 9.89 | 12.87 | 5.03 | 10.78 | 10.01 | 11.20 |
| EV / EBITDA | — | — | 31.14 | 93.51 | 36.44 | 15.80 | 25.75 | 6.99 | 21.23 | 18.92 | 26.48 |
| EV / EBIT | — | — | 31.14 | 93.51 | 36.44 | 15.80 | 25.75 | 6.99 | 21.23 | 18.92 | 26.48 |
| EV / FCF | — | — | 5.04 | — | — | — | — | — | — | — | 44.92 |
SAR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Saratoga Investment Corp. earns an operating margin of -0.1%, below the Financial Services sector average of 21.6%. Operating margins have compressed from 16.8% to -0.1% over the past 3 years, signaling potential cost pressures or competitive headwinds.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | 44.7% | 29.3% | 52.0% | 74.3% | 66.0% | 81.2% | 65.4% | 67.2% | 63.4% |
| Operating Margin | -0.1% | -0.1% | 33.9% | 16.8% | 38.3% | 62.6% | 50.0% | 72.0% | 50.8% | 52.9% | 42.3% |
| Net Profit Margin | — | — | 29.8% | 12.8% | 35.3% | 59.0% | 37.0% | 71.2% | 48.8% | 53.0% | 42.1% |
Return on Capital
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | 7.4% | 2.5% | 7.0% | 13.9% | 4.9% | 23.0% | 11.4% | 13.0% | 9.0% |
| ROA | — | — | 2.4% | 0.8% | 2.5% | 6.2% | 2.6% | 11.1% | 4.5% | 5.2% | 3.7% |
| ROIC | -0.1% | -0.1% | 2.0% | 0.8% | 2.1% | 5.1% | 2.8% | 8.7% | 3.6% | 4.0% | 2.9% |
| ROCE | -0.3% | -0.3% | 2.7% | 1.0% | 2.8% | 6.6% | 3.6% | 11.4% | 4.7% | 5.3% | 3.8% |
SAR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $271.0B ($293.3B total debt minus $22.3B cash).
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 1.99 | 2.17 | 2.05 | 1.40 | 0.90 | 0.67 | 1.53 | 1.44 | 1.43 |
| Debt / EBITDA | — | — | 24.46 | 68.69 | 26.58 | 10.28 | 13.74 | 3.64 | 14.40 | 11.69 | 15.87 |
| Net Debt / Equity | — | — | 1.61 | 2.15 | 1.86 | 1.27 | 0.84 | 0.59 | 1.36 | 1.41 | 1.35 |
| Net Debt / EBITDA | — | — | 19.82 | 67.95 | 24.12 | 9.31 | 12.80 | 3.20 | 12.80 | 11.47 | 15.06 |
| Debt / FCF | — | — | 3.21 | — | — | — | — | — | — | — | 25.55 |
| Interest Coverage | -0.00 | -0.00 | 0.61 | 0.24 | 0.80 | 2.44 | 1.47 | 3.84 | 1.47 | 1.61 | 1.16 |
SAR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.08x is below 1.0, meaning current liabilities exceed current assets — though the company's $22.3B cash position helps mitigate short-term liquidity concerns. The current ratio has declined from 3.93x to 0.08x over the past 3 years.
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.08 | 0.08 | 27.93 | 3.93 | 14.51 | 14.67 | 5.87 | 7.52 | 7.60 | 1.83 | 3.60 |
| Quick Ratio | 0.08 | 0.08 | 27.93 | 3.93 | 14.51 | 14.67 | 5.87 | 7.52 | 7.60 | 1.83 | 3.60 |
| Cash Ratio | 0.08 | 0.08 | 26.53 | 1.77 | 12.85 | 13.12 | 4.28 | 6.23 | 6.36 | 1.00 | 2.57 |
| Asset Turnover | — | 0.32 | 0.08 | 0.06 | 0.06 | 0.09 | 0.07 | 0.15 | 0.08 | 0.09 | 0.08 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
SAR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Saratoga Investment Corp. returns 100.0% to shareholders annually — split between a 100.0% dividend yield and 14.9% buyback yield. The earnings yield of 10.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 100.0% | 100.0% | 11.3% | 10.7% | 6.9% | 5.8% | 4.4% | 8.0% | 7.4% | 6.8% | 5.2% |
| Payout Ratio | — | — | 145.1% | 358.8% | 91.9% | 39.7% | 76.2% | 30.5% | 64.9% | 51.0% | 59.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.3% | 10.0% | 7.8% | 3.0% | 7.5% | 14.5% | 5.7% | 26.1% | 11.4% | 13.4% | 8.7% |
| FCF Yield | — | — | 54.6% | — | — | — | — | — | — | — | 5.2% |
| Buyback Yield | 14.9% | 14.8% | 0.0% | 0.7% | 3.3% | 0.8% | 1.4% | 0.0% | 0.0% | 0.0% | 2.6% |
| Total Shareholder Yield | 100.0% | 100.0% | 11.3% | 11.4% | 10.2% | 6.6% | 5.8% | 8.0% | 7.4% | 6.8% | 7.8% |
| Shares Outstanding | — | $16M | $14M | $13M | $12M | $11M | $11M | $9M | $7M | $6M | $6M |
Peer Comparison
Compare SAR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SARYou | $363M | 9.7 | — | — | — | -0.1% | — | -0.1% | — |
 GAIN | $657M | 9.3 | 16.8 | 5.8 | 68.6% | 72.7% | 13.2% | 5.3% | 7.0 |
 SLRC | $745M | 8.0 | 11.5 | — | 73.3% | 72.9% | 9.3% | 5.8% | 7.0 |
 PFLT | $888M | 12.4 | 37.7 | 9.3 | 45.6% | 39.4% | 6.8% | 2.1% | 26.3 |
 TPVG | $243M | 4.9 | 9.1 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 CSWC | $1B | 16.3 | 27.4 | — | 66.5% | 48.5% | 8.6% | 3.5% | 11.2 |
 MRCC | $110M | 9.6 | — | 0.9 | 60.8% | 51.7% | 6.4% | 2.0% | 17.4 |
 HRZN | $199M | 4.3 | — | 3.5 | 18.0% | -4.0% | -0.8% | -0.2% | — |
 ARCC | $14B | 10.2 | 13.1 | 11.9 | 75.7% | 69.7% | 9.4% | 5.7% | 7.3 |
 FSCO | $1B | 5.4 | 6.5 | 15.2 | 81.3% | 77.5% | 13.5% | 8.1% | 2.3 |
 GBDC | $3B | 9.3 | 12.1 | — | 81.5% | 78.9% | 9.4% | 5.9% | 7.1 |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying SAR stock.
What is Saratoga Investment Corp.'s P/E ratio?
Saratoga Investment Corp.'s current P/E ratio is 9.7x. The historical average is 10.1x. This places it at the 63th percentile of its historical range.
Is SAR stock overvalued?
Based on historical data, Saratoga Investment Corp. is trading at a P/E of 9.7x. This is at the 63th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Saratoga Investment Corp.'s dividend yield?
Saratoga Investment Corp.'s current dividend yield is 100.00%.
What are Saratoga Investment Corp.'s profit margins?
Saratoga Investment Corp. has -0.1% operating margin.