SAR

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Saratoga Investment Corp

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Key Metrics

Previous Close: $18.80
52-Week Range: $17.34 – $25.64
Market Cap: $301.03M
P/E (TTM): 19.10
EPS (TTM): 0.98
Dividend Yield: 15.96%

Advanced Metrics

Price/Book: 0.81
PEG Ratio: —
Return on Equity: 4.07%
Return on Assets: 4.49%
Gross Margin: 100.00%
Operating Margin: 68.97%
Profit Margin: 12.70%
Current Ratio: 0.85
Debt/Equity: 2.12
Total Debt: $802.74M
Free Cash Flow: $96.15M
Revenue Growth: -4.80%
Earnings Growth: —
Enterprise Value: $1.06B

SAR Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$36.35M	$20.36M	$42.10M	$49.92M
Selling, General & Admin	$8.01M	$8.56M	$9.34M	$11.01M
Operating Expenses	$9.60M	$8.67M	$10.14M	$11.83M
Pretax Income	$26.76M	$11.70M	$31.97M	$38.09M
Income Tax	$2.08M	$2.77M	$3.88M	$1.48M
Net Income	$24.68M	$8.93M	$28.09M	$36.60M
Diluted EPS	2.06	0.71	2.02	2.31
Diluted Shares	11.96M	12.67M	13.91M	15.85M

SAR Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$65.75M	$8.69M	$148.22M	$1.68M
Receivables	$8.52M	$10.64M	$7.79M	$7.56M
Total Assets	$1.08B	$1.19B	$1.19B	$1.14B
Total Debt	$711.13M	$803.67M	$781.82M	$725.65M
Total Liabilities	$731.20M	$820.98M	$798.88M	$743.11M
Retained Earnings	$25.05M	-$870.75K	-$20.26M	-$43.06M
Shareholders' Equity	$346.96M	$370.22M	$392.67M	$396.16M
Net Debt	$645.38M	$794.98M	$633.60M	$723.97M

SAR Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	-$130.37M	-$157.21M	$197.54M	-$88.03M
Free Cash Flow	-$130.37M	-$157.21M	$197.54M	-$88.03M
Financing Cash Flow	$173.58M	$101.64M	-$33.32M	-$94.91M
Dividends Paid	-$22.67M	-$32.05M	-$40.75M	-$52.36M
Share Repurchases	-$10.82M	-$2.16M	$0.00	-$54.31K
Net Change in Cash	$43.21M	-$55.57M	$164.22M	-$182.94M

SAR Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$16.84M	$15.39M	$15.34M	$2.35M	-$4.76M
Selling, General & Admin	$2.80M	$2.54M	$3.27M	$2.40M	$2.69M
Operating Expenses	$2.80M	$2.54M	$3.39M	$3.10M	$2.69M
Pretax Income	$14.04M	$12.85M	$11.95M	-$750.41K	-$7.45M
Income Tax	$109.54K	-$435.31K	-$54.54K	$1.86M	-$547.38K
Net Income	$13.93M	$13.29M	$12.00M	-$2.61M	-$6.90M
Diluted EPS	0.91	0.84	0.74	-0.16	-0.42
Diluted Shares	15.34M	15.78M	16.11M	16.18M	16.25M

SAR Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$131.56M	$105.66M	$52.30M	$1.68M	$46.14M
Receivables	$8.30M	$8.90M	$9.17M	$7.56M	$9.28M
Total Assets	$1.20B	$1.21B	$1.20B	$1.14B	$1.20B
Total Debt	$780.58M	$776.80M	$764.68M	$725.65M	$802.74M
Total Liabilities	$805.90M	$795.71M	$783.76M	$743.11M	$818.97M
Retained Earnings	-$25.31M	-$23.82M	-$23.90M	-$43.06M	-$62.15M
Shareholders' Equity	$396.37M	$410.50M	$413.21M	$396.16M	$378.45M
Net Debt	$649.01M	$671.14M	$712.39M	$723.97M	$756.60M

SAR Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$32.29M	-$19.30M	-$8.60M	-$92.42M	-$25.97M
Free Cash Flow	$32.29M	-$19.30M	-$8.60M	-$92.42M	-$25.97M
Financing Cash Flow	-$12.73M	-$4.18M	-$22.64M	-$55.36M	$64.99M
Dividends Paid	-$16.67M	-$10.51M	-$10.80M	-$14.38M	-$10.80M
Net Change in Cash	$19.56M	-$23.48M	-$31.25M	-$147.77M	$39.02M

Market Snapshot

About

Saratoga Investment Corp is a business development company that provides customized financing solutions to middle-market companies. The firm primarily invests in senior and subordinated debt, as well as equity securities of leveraged buyouts, management buyouts, acquisitions, and growth financings. Saratoga focuses on companies with annual revenues typically between $10 million and $250 million.