Saturday 17 October 2026
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Saratoga Investment Corp
SAR Financial Asset Management
Saratoga Investment Corp’s revenue for fiscal 2026 (year ended February 2026) was $125.7 million, down 15.5% from fiscal 2025. In the quarter to August 2026, revenue grew 1.77%, EPS fell 149.1%, free cash flow fell 43.9% and total debt was flat, each against the same quarter a year earlier.
15.32
0.10
+0.66%
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| Feb '20 | Feb '21 | Mar '21 | Feb '22 | Mar '22 | Feb '23 | Mar '23 | Feb '24 | Feb '25 | Feb '26 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
3 | 2 | — | 2 | — | 3 | — | 3 | 5 | 2 |
P/E ratio |
4.32 | 17.45 | 17.45 | 6.83 | 6.82 | 13.18 | 13.15 | 33.25 | 12.75 | 10.12 |
P/S ratio |
3.90 | 4.50 | 4.50 | 4.45 | 4.44 | 3.33 | 3.32 | 2.08 | 2.43 | 2.97 |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.83 | 0.00 |
P/Operating CF |
6.27 | 56.15 | 56.15 | (2.15) | (2.15) | 10.12 | 10.10 | (14.48) | (18.16) | (4.04) |
P/B ratio |
0.75 | 0.85 | 0.85 | 0.88 | 0.88 | 0.95 | 0.95 | 0.81 | 0.92 | 0.94 |
Price to Tangible BV |
0.75 | 0.85 | 0.85 | 0.88 | 0.88 | 0.95 | 0.95 | 0.81 | 0.92 | 0.94 |
EV/Sales |
6.73 | 8.74 | 8.74 | 3.88 | 3.87 | 2.68 | 2.68 | 2.04 | 1.41 | 3.36 |
EV/EBITDA |
12.73 | 13.23 | 13.23 | 6.53 | 6.52 | 3.04 | 3.03 | 1.85 | 2.30 | 4.39 |
EV/Operating CF |
(25.97) | (8.08) | (8.08) | (1.35) | (1.35) | (2.04) | (2.03) | (1.87) | 1.06 | (4.79) |
EV/FCF |
(25.97) | (8.08) | (8.08) | (1.35) | (1.35) | (2.04) | (2.03) | (1.87) | 1.06 | (4.79) |
Quick Ratio |
0.20 | 0.12 | 0.00 | 0.11 | 0.00 | 0.15 | 0.00 | 0.07 | 0.29 | 0.04 |
Current Ratio |
0.20 | 0.12 | — | 0.11 | — | 0.15 | — | 0.07 | 0.29 | 0.04 |
Net Debt/EBITDA |
5.36 | (0.79) | 0.00 | (0.96) | 0.00 | (0.73) | 0.00 | (0.03) | (1.67) | 0.50 |
Debt/Assets |
38.62% | 0.00% | 0.00% | 1.43% | 56.96% | 3.01% | 65.96% | 2.94% | 4.41% | 6.14% |
Debt/Equity |
0.67 | 0.00 | 0.00 | 0.04 | 1.40 | 0.09 | 2.05 | 0.09 | 0.13 | 0.18 |
Asset Turnover |
0.12 | 0.10 | 0.00 | 0.10 | 0.00 | 0.10 | 0.00 | 0.13 | 0.12 | 0.11 |
Operating CF/Net income |
(0.27) | (4.22) | 0.65 | (4.44) | 0.61 | (5.28) | 1.32 | (17.60) | 7.03 | (2.40) |
Capex/Depreciation |
0.00 | 0.00 | — | 0.00 | — | 0.00 | — | 0.00 | 0.00 | 0.00 |
Interest Coverage |
2.01 | 2.70 | — | 2.00 | — | 2.05 | — | 2.16 | 2.02 | 1.75 |
| 22.98% | 4.86% | 0.00% | 13.86% | 0.00% | 7.02% | 0.00% | 2.49% | 7.36% | 9.28% | |
| 11.13% | 2.63% | 0.00% | 6.23% | 0.00% | 2.53% | 0.00% | 0.79% | 2.36% | 3.14% | |
ROIC |
1.98% | 5.27% | 0.00% | 3.95% | 0.00% | 7.76% | 0.00% | 9.75% | 13.78% | 5.18% |
Return on Tangible Assets |
(30.80%) | (5.87%) | 0.00% | (10.19%) | 0.00% | (4.17%) | 0.00% | (1.22%) | (5.31%) | (5.72%) |
Average Days of Receivables |
30.04 | 26.74 | 0.00 | 26.28 | 0.00 | 31.66 | 0.00 | 26.41 | 18.34 | 21.24 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
47.81% | 35.14% | 0.00% | 42.87% | 0.00% | 29.76% | 0.00% | 24.90% | 27.53% | 30.23% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(0.80) | (0.98) | (0.98) | (1.47) | (1.47) | (1.90) | (1.90) | (2.57) | (1.62) | (1.91) |
Graham Number |
64.48 | 28.52 | 58.09 | 53.00 | 35.99 | 36.93 | 37.44 | 21.60 | 35.99 | 36.20 |
Earnings Yield |
23.15% | 5.73% | 5.73% | 14.63% | 14.66% | 7.59% | 7.60% | 3.01% | 7.85% | 9.88% |
Free Cash Flow Yield |
(6.65%) | (24.01%) | (24.01%) | (64.54%) | (64.66%) | (39.55%) | (39.64%) | (52.55%) | 54.61% | (23.55%) |
Revenue per Share |
6.27 | 5.15 | 4.37 | 6.17 | 7.34 | 8.28 | 8.91 | 11.34 | 10.70 | 7.93 |
Operating CF per Share |
(1.63) | (5.57) | 0.86 | (17.73) | 2.44 | (10.90) | 2.72 | (12.41) | 14.20 | (5.55) |
Capex per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Free Cash Flow per Share |
(1.63) | (5.57) | 0.86 | (17.73) | 2.44 | (10.90) | 2.72 | (12.41) | 14.20 | (5.55) |
Cash per Share |
4.23 | 2.67 | 2.68 | 4.61 | 4.63 | 8.03 | 8.02 | 3.20 | 14.72 | 1.37 |
Shareholders Equity per Share |
32.65 | 27.19 | 27.17 | 31.05 | 31.07 | 29.00 | 29.00 | 29.22 | 28.22 | 24.99 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
32.65 | 27.19 | 27.17 | 31.05 | 31.07 | 29.00 | 29.00 | 29.22 | 28.22 | 24.99 |
Free Cash Flow |
(15.14) | (62.35) | 9.66 | (203.13) | 28.01 | (130.37) | 32.49 | (157.21) | 197.54 | (88.03) |
Working Capital |
(180.97) | (251.91) | — | (448.75) | — | (591.21) | — | (731.28) | (529.29) | (639.43) |
Net Current Asset Value |
(182.32) | (253.83) | (288.00) | (462.50) | (520.00) | (626.53) | (731.00) | (770.08) | (586.68) | (714.01) |
EV/EBIT |
13.31 | 13.73 | 13.73 | 6.89 | 6.87 | 3.87 | 3.86 | 2.77 | 1.99 | 4.90 |
Capex to Sales |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Price to Operating Income |
15.33 | 11.24 | 11.24 | 15.78 | 15.75 | 9.36 | 9.34 | 5.26 | 6.82 | 10.15 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.00 | 0.00 | — | 0.00 | — | 0.00 | — | 0.00 | 0.00 | 0.00 |
Cash ROIC |
(2.76%) | (18.66%) | 0.00% | (48.23%) | 3.08% | (27.42%) | 2.82% | (35.27%) | 30.40% | (18.04%) |
Accounts Receivable Turnover |
13.66 | 12.76 | 0.00 | 15.18 | 0.00 | 14.48 | 0.00 | 15.13 | 16.65 | 17.00 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | — | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | — | 0.00 | 0.00 | 0.00 |
Average Receivables |
4.28 | 4.52 | — | 4.66 | — | 6.85 | — | 9.50 | 8.94 | 7.40 |
Average Payables |
166.13 | 170.17 | 80.26 | 186.25 | — | 210.88 | — | 223.39 | 204.84 | 177.52 |
Average Assets |
500.77 | 561.51 | 592.08 | 734.20 | 876.12 | 977.20 | 1,078.08 | 1,134.68 | 1,191.38 | 1,165.40 |
Average Common Equity |
242.58 | 304.24 | 304.09 | 329.98 | 355.89 | 351.37 | 346.98 | 358.59 | 381.44 | 394.41 |
Columns are period end dates · fundamentals updated 12 Oct 2026