Saratoga Investment Corp.

Saratoga Investment Corp.

SAR
Saratoga Investment Corp.US flagNew York Stock Exchange
14.55
USD
-0.35
- -
226.39MMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
2.47
2.72
2.83
2.99
3.73
3.52
6.83
2.35
5.03
3.04
1.61
3.03
3.15
1.76
Basic EPS, GAAP
1.73
2.04
2.09
1.98
2.93
2.63
5.98
1.32
3.99
2.06
0.71
2.02
2.31
0.98
Free Cash Flow per Basic Share
-6
-4.03
-5.77
1.17
-5.11
-5.67
-1.63
-5.57
-17.73
-10.9
-12.41
14.2
-5.55
-9.1
Dividend per Share
0.51
0.27
1.42
1.18
1.5
1.7
1.82
1.01
1.58
1.89
2.53
2.93
3.3
2.89
Book Value per Share
21.08
22.7
22.06
21.97
22.96
23.62
27.13
27.25
29.33
29.18
27.12
25.86
24.42
23.23
Tangible Book Value per Share
21.08
22.7
22.06
21.97
22.96
23.62
27.13
27.25
29.33
29.18
27.12
25.86
24.42
23.23
Basic Weighted Avg Shares
5
5
6
6
6
7
9
11
11
12
13
14
16
16
Sales/Revenue/Turnover
12
15
16
17
22
25
64
26
58
36
20
42
50
28
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
8
11
12
11
18
19
56
15
46
25
9
28
37
16
Effective Tax Rate (%)
- -
2.6
0.97
0.39
- -
3.84
1.08
25.89
5.73
7.78
23.64
12.14
3.89
4.97
Profit Margin (%)
69.84
75.24
73.7
66.4
78.77
74.68
87.63
56.14
79.43
67.88
43.87
66.71
73.33
55.69
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
LT Debt
94
132
161
181
206
277
205
274
499
711
804
782
726
803
Total Equity
113
123
125
127
144
181
304
304
356
347
370
393
396
378
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
7.65
9.33
9.4
9.02
13.05
11.41
22.98
4.86
13.86
7.02
2.49
7.36
9.28
4.07

Capital Structure

FRC

•

in mil. unless spec.
Nov'26
Feb'26
May'27
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
16
16
16
Market Capitalization
375
376
367

Working Capital

FRC

•

in mil. unless spec.
Nov'26
Feb'26
May'27
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
52
2
46
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.68%
5.63%
0.89%
Free Cash Flow
-55.78%
-31.93%
-144.56%
Net Income, GAAP
52.97%
68.87%
30.33%
Sales/Revenue/Turnover
31.11%
32.64%
18.56%
Total Cash Common Dividend
24.28%
36.61%
28.49%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
10
16
12
5
42
2026
17
15
15
2
50
2027
-5
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.48
0.97
0.64
- -
2.02
2026
0.91
0.84
0.74
-0.16
2.31
2027
-0.42
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.66
0.66
0.65
- -
2.93
2026
1.09
0.67
0.67
0.89
3.3
2027
0.66
- -
- -
- -
- -

Company Description

CEO
Chris Long Oberbeck
Sector
Financial Services
Industry
Asset Management
Address
535 Madison Avenue, Fourth Floor New York NY United States of America 10022
IPO Date
Mar 27, 2007
Business
Saratoga Investment Corp. Saratoga Investment Corp. (NYSE: SAR) is a publicly traded business development company that provides customized debt and equity financing solutions to middle-market companies in the United States. The company originates, structures, and holds a diversified portfolio of investments primarily consisting of first and second lien senior secured loans, mezzanine debt, unitranche facilities, select high yield and senior secured bonds, unsecured bonds, and preferred and common equity co-investments; it targets leveraged and management buyouts, acquisition financings, growth financings, recapitalizations, debt refinancing, and transitional financings in companies with EBITDA of $2 million or greater and revenues between $5 million and $250 million across sectors including aerospace, automotive aftermarket, business products and services, consumer products, education, environmental services, healthcare, logistics, manufacturing, software and technology services, specialty chemicals, media, and telecommunications. Founded in 2007 and formerly known as GSC Investment Corp., Saratoga Investment Corp. is headquartered at 535 Madison Avenue in New York, New York, with an additional office in Florham Park, New Jersey, and operates through direct lending, loan syndicates, and partnerships with private equity sponsors, business owners, and management teams. In recent developments, the company announced a new $85 million credit facility with Valley National Bank in November 2025 to enhance its borrowing capacity; it closed or advanced approximately $52.3 million in new originations across three new portfolio companies and two follow-ons subsequent to its fiscal second quarter 2026 ending August 31, 2025, contributing to a net anticipated portfolio increase of $39.5 million and maintaining total undrawn borrowing capacity of $406.8 million; additionally, it declared a special dividend of $0.25 per share in November 2025 to fulfill its fiscal 2025 distribution requirements and operates an active $300 million at-the-market equity offering program through brokers including Ladenburg Thalmann, Raymond James, Lucid Capital Markets, and Compass Point.

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