Latest Ratios: P/E Ratio 11.0x · EV/EBITDA N/A · ROE N/A. (2007–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $412M | $124M | $351M | $319M | $303M | — | — | — | — | — | — |
| Enterprise Value | $271.4B | $271.1B | $985M | $1.1B | $948M | — | — | — | — | — | — |
| P/E Ratio → | 10.95 | 3.38 | 12.50 | 35.48 | 12.28 | — | — | — | — | — | — |
| P/S Ratio | 0.00 | 0.00 | 3.73 | 4.59 | 4.33 | — | — | — | — | — | — |
| P/B Ratio | — | — | 0.89 | 0.86 | 0.87 | — | — | — | — | — | — |
| P/FCF | — | — | 1.78 | — | — | — | — | — | — | — | — |
| P/OCF | — | — | 1.78 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
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 | 10.46 | 16.02 | 13.57 | — | — | — | — | — | — |
| EV / EBITDA | — | — | 30.81 | 95.23 | 35.43 | — | — | — | — | — | — |
| EV / EBIT | — | — | 30.81 | 95.23 | 35.43 | — | — | — | — | — | — |
| EV / FCF | — | — | 4.99 | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
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% |
| 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% |
Solvency and debt-coverage ratios — lower is generally safer
| 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 |
Short-term solvency ratios and asset-utilisation metrics
| 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 | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | 145.1% | 358.8% | 91.9% | 39.7% | 76.2% | 30.5% | 64.9% | 51.0% | 59.6% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.1% | 29.6% | 8.0% | 2.8% | 8.1% | — | — | — | — | — | — |
| FCF Yield | — | — | 56.2% | — | — | — | — | — | — | — | — |
| Buyback Yield | 13.2% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 100.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $16M | $14M | $13M | $12M | $11M | $11M | $9M | $7M | $6M | $6M |
Extreme Data Integrity Discrepancies
As reported in recent financial statements, Saratoga's P/E ratio of 10.97 appears disconnected from the firm's underlying operational reality, as the provided TTM revenue figures of $125B create a valuation landscape that is fundamentally incompatible with the company's historical profile as a lower-middle-market business development firm.
The current valuation multiples are rendered largely meaningless by the extreme data discrepancies present in the provided financial snapshot. Investors should monitor whether these figures represent a one-time accounting consolidation or a systemic reporting error, as the implied growth rates are inconsistent with the firm's historical performance.
Based on the provided quarterly data, the firm's operating margin has deteriorated to -0.11%, suggesting that interest expenses and management fees are currently consuming the entirety of investment income, a trend that warrants further investigation into the sustainability of the firm's current fee-heavy cost structure.
The shift toward negative operating margins indicates that the firm's core earning power is currently compromised. This trend suggests that the external management agreement may be creating a structural drag on profitability that is exacerbated by the current interest rate environment.
According to recent SEC filings, the asset turnover ratio has remained consistently low at approximately 0.02, which is typical for a BDC but highlights the firm's reliance on capital-intensive investment strategies rather than rapid asset rotation to drive returns for its shareholders.
The low asset turnover reflects the long-term nature of the firm's debt investments in the lower-middle market. Investors should monitor whether the recent increase in DSO to 72 days in 2024Q4 indicates a potential slowdown in cash collection from portfolio companies, which could signal underlying credit stress.
As reported in financial statements, the debt-to-equity ratio has exhibited extreme instability, fluctuating from 1.85x to 2.21x before becoming uncalculable in the most recent period, which suggests that the firm's capital structure is currently under significant pressure from both asset valuation and debt service requirements.
The inability to maintain a stable leverage profile indicates that the firm's reliance on SBIC debentures and other credit facilities may be reaching a critical threshold. This volatility warrants further investigation into the firm's covenant compliance and its ability to manage debt service in a period of declining investment income.
The 100% dividend yield reported in the data is a commonly misapplied metric for Saratoga, as it obscures the reality that such payouts are often funded by non-recurring realized gains rather than sustainable net investment income, potentially misleading investors regarding the long-term durability of the distribution.
Investors should prioritize Net Investment Income (NII) coverage ratios over headline dividend yields when evaluating this business model. Relying on the yield alone ignores the lumpy nature of capital gains and the potential for management to waive fees to artificially support the dividend payout during periods of stress.
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying SAY stock.
Saratoga Investment Corp 8.125%'s current P/E ratio is 11.0x. The historical average is 15.9x. This places it at the 25th percentile of its historical range.
Based on historical data, Saratoga Investment Corp 8.125% is trading at a P/E of 11.0x. This is at the 25th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Saratoga Investment Corp 8.125%'s current dividend yield is 100.00%.
Saratoga Investment Corp 8.125% has -0.1% operating margin.