Saturday 17 October 2026 Export SAR’s income statement to Excel — free account

Saratoga Investment Corp

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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Market cap: $236.8M
P/E: 0.0×
Fwd P/E: 10.0×
Dividend yield: 22.9%
F-score: 2/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 16.74%

Capital & Financial Ratios $m

Market Cap 236.82

Revenue 124.71

Net Income (4.18)

Free Cash Flow (154.75)

Net Debt (25.87)

Current Ratio 0.13

Debt/Equity 0.20

P/E ratio 0.00

Fwd P/E 9.99

P/S ratio 1.98

P/B ratio 0.70

Past 5Y EPS Growth 11.84%

This Y EPS Growth (19.89%)

Next Y EPS Growth (6.95%)

Next Y revenue growth 0.94%

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 0.81%

10-year low 10-year high

P/B against its own 10 years 7.85%

10-year low 10-year high

Dividends

Payout Ratio 3.50

Annual Dividend Rate 3.50

Annual Dividend Yield 22.85%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	3.00	0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25
2025	2.99	0.74 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25
2024	2.95	0.73 0.74 0.74 0.74
2023	2.82	0.69 0.70 0.71 0.72
2022	2.81	0.53 0.53 0.53 0.54 0.68
2021	1.81	0.42 0.43 0.44 0.52
2020	1.37	0.56 0.40 0.41
2019	1.65	0.54 0.55 0.56
2018	2.06	0.50 0.51 0.52 0.53
2017	2.35	0.45 0.46 0.47 0.48 0.49
2016	1.27	0.40 0.41 0.43 0.20 0.44

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2024	2025	2026	Q'26
Cash	41	205	22	96
Receivables	10	7	7	9
Inventory	—	—	—	—
Other	—	—	—	—
	51	212	29	105

	2024	2025	2026	Q'26
Payables	228	182	173	227
ST’ Debt	—	—	—	—
Other	4	8	(13)	(16)
	782	741	669	830

Compound Annual Growth %

	10y	5y	3y
Sales	15.39%	16.87%	8.25%
Cash Flow	0.00%	0.00%	0.00%
Earnings	12.13%	19.89%	14.05%
Book Value	12.21%	5.43%	4.52%

Revenue $m

	May	Aug	Nov	Feb	Year
’26	31	31	—	—	—
’26	32	31	32	31	126
’25	39	43	36	31	149
’24	35	36	36	37	144
’23	19	22	26	32	99
’22	17	18	17	19	71
’21	13	14	14	16	58

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	May	Aug	Nov	Feb	Year
’26	(26)	(28)	—	—	—
’26	32	(19)	(9)	(92)	(88)
’25	52	71	94	(20)	198
’24	(111)	(7)	(19)	(21)	(157)
’23	(80)	(60)	(22)	33	(130)
’22	(102)	30	15	(146)	(203)
’21	(33)	(1)	(32)	5	(62)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	May	Aug	Nov	Feb	Year
’26	(26)	(28)	—	—	—
’26	32	(19)	(9)	(92)	(88)
’25	52	71	94	(20)	198
’24	(111)	(7)	(19)	(21)	(157)
’23	—	—	—	—	32
’23	(80)	(60)	(22)	33	(130)
’22	—	—	—	—	28

Fiscal quarters ending in the months shown.

EPS $

	May	Aug	Nov	Feb	Year
’26	(0.42)	(0.41)	—	—	—
’26	0.91	0.84	0.74	(0.16)	2.31
’25	0.48	0.97	0.64	(0.05)	2.02
’24	(0.02)	0.65	(0.31)	0.39	0.71
’23	(0.12)	0.08	0.51	1.62	2.06
’22	1.88	0.71	0.73	0.70	3.99
’21	(2.02)	1.95	0.57	0.83	1.32

Fiscal quarters ending in the months shown.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	19.90	18.60	19.90	5.94	20.20	20.16	22.63	21.56	21.10	13.78	Analyst estimates 2027–2029 Powerpack
	High	23.78	28.30	26.39	28.70	30.25	29.48	28.87	26.49	26.17	24.07
People
People	Employees	—	—	—	—	—	—	—	—	—	—
	Revenue/emp, $m	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income, $m
Income, $m	Revenue	33	39	48	58	58	71	99	144	149	126
	Gross margin, %	0.00	0.00	0.00	100.00	0.00	0.00	0.00	100.00	100.00	100.00
	EBT	10	13	18	15	23	20	35	57	53	37
	EBT margin, %	25.01	54.00	36.61	25.43	39.32	56.91	24.11	39.57	35.61	29.28
	Net income	11	18	19	56	15	46	25	9	28	37
	Depreciation	2	1	1	1	1	2	19	52	(14)	10
Per share, $
Per share, $	Revenue	7.93	5.43	7.46	6.27	4.37	7.34	8.91	11.34	10.70	7.93
	Earnings	1.98	2.93	2.63	5.98	1.32	3.99	2.06	0.71	2.02	2.31
	Cash flow	2.18	1.76	1.70	(1.63)	0.86	2.44	2.72	(12.41)	14.20	(5.55)
	Capex	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Free cash flow	2.18	1.76	1.70	(1.63)	0.86	2.44	2.72	(12.41)	14.20	(5.55)
	Book value	22.17	23.85	25.69	32.65	27.17	31.07	29.00	29.22	28.22	24.99
	Shares, m	6	6	7	9	11	11	12	13	14	16
Valuation, ×
Valuation, ×	P/E	11.68	7.34	8.93	4.32	17.45	6.82	13.15	33.25	12.75	10.12
	P/S	4.00	3.34	3.42	3.90	4.50	4.44	3.32	2.08	2.43	2.97
	P/B	1.04	0.90	0.90	0.75	0.85	0.88	0.95	0.81	0.92	0.94
	EV/Sales	3.40	3.01	2.36	6.73	8.74	3.87	2.68	2.04	1.41	3.36
	EV/FCF	16.71	(3.78)	(2.82)	(25.97)	(8.08)	(1.35)	(2.03)	(1.87)	1.06	(4.79)
Cash, $m
Cash, $m	Operating cash flow	7	(31)	(40)	(15)	(62)	(203)	(130)	(157)	198	(88)
	Capex	—	—	—	—	—	—	—	—	—	—
	Free cash flow	13	11	12	(15)	10	28	32	(157)	198	(88)
Balance, $m
Balance, $m	Working capital	(166)	(200)	(223)	(181)	(252)	(449)	(591)	(731)	(529)	(639)
	Total debt	181	206	277	205	274	499	711	35	53	70
	Net debt	181	206	277	166	274	446	615	(6)	(152)	48
	Shareholders’ equity	127	144	181	304	304	356	347	370	393	396
Returns, %
Returns, %	ROA	0.00	0.00	0.00	11.13	0.00	0.00	0.00	0.79	2.36	3.14
	ROIC	0.00	0.00	0.00	1.98	0.00	0.00	0.00	9.75	13.78	5.18
	ROE	0.00	0.00	0.00	22.98	0.00	0.00	0.00	2.49	7.36	9.28

Negative figures in brackets.

All 10 years →

Fiscal years to Feb 2026 · latest quarter Aug 2026 · fundamentals updated 12 Oct 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
HRZN Horizon Technology Finance Corporation	$307.7M	10.7×	8.5×	+2.14% (above 0%: growing)	n/m	+149.05% (above 0%: growing)	100.00%	93.70%	Compare
PSBD Palmer Square Capital BDC Inc.	$299.2M	— (loss-making)	— (loss-making)	−13.83% (below 0%: shrinking)	+22.73% (above 0%: growing)	−48.13% (below 0%: shrinking)	100.00%	83.11%	Compare
RWAY Runway Growth Finance Corp.	$273.3M	57.5×	— (loss-making)	+5.35% (above 0%: growing)	+44.44% (above 0%: growing)	−65,337.04% (below 0%: shrinking)	100.00%	84.24%	Compare
SAR Saratoga Investment Corp	$236.8M	— (loss-making)	10.0×	+1.77% (above 0%: growing)	n/m	−43.85% (below 0%: shrinking)	100.00%	68.55%
LIEN Chicago Atlantic BDC, Inc.	$208.8M	6.6×	6.2×	+6.81% (above 0%: growing)	−28.95% (below 0%: shrinking)	+1,591.22% (above 0%: growing)	100.00%	61.95%	Compare
PNNT PennantPark Investment Corporation	$206.3M	19.6×	10.4×	−16.21% (below 0%: shrinking)	−41.67% (below 0%: shrinking)	−2.70% (below 0%: shrinking)	78.27%	72.21%	Compare
SCM Stellus Capital Investment Corporation	$205.6M	6.9×	9.7×	−13.21% (below 0%: shrinking)	+55.56% (above 0%: growing)	+41.00% (above 0%: growing)	100.00%	72.26%	Compare
TPVG TriplePoint Venture Growth BDC Corp.	$183.2M	4.5×	6.2×	−4.86% (below 0%: shrinking)	−21.21% (below 0%: shrinking)	+232.34% (above 0%: growing)	100.00%	75.98%	Compare
WHG Westwood Holdings Group Inc	$181.4M	20.0×	— (loss-making)	+9.62% (above 0%: growing)	+50.00% (above 0%: growing)	−58.51% (below 0%: shrinking)	100.00%	8.14%	Compare
Median of peers	$207.6M	10.7×	8.5×	−1.36%	+22.73%	+19.15%	100.00%	74.12%

All 120 Asset Management stocks →

Saratoga Investment Corp (SAR) key facts

Concern: Saratoga Investment Corp’s revenue for fiscal 2026 (year ended February 2026) was $125.7 million, down 15.5% from fiscal 2025.
Strength: Net income was $36.6 million, or $2.31 per share (basic), a net margin of 29.1%.
Saratoga Investment Corp (SAR) is an Asset Management company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, SAR traded at $15.32, a market capitalization of $236.8 million.
Saratoga Investment Corp pays an annual dividend of $3.50 per share, a yield of 22.9%.
Return on equity was 9.28% and debt-to-equity 0.20.
Its Piotroski F-score is 2 out of 9 for fiscal 2026.