Saratoga Investment Corp SAR Stock Analysis
- NYSE
- Stock
- After hours · opens Monday 9:30 AM ET
$12.90 down $1.00, 7.19% at close Nov 5
Last close · Previous close $13.90
- Market cap
- $210.41MAt the Nov 5 close
- P/E ratio
- n/mLoss over last 12 months
- Diluted EPS
- −$0.27Last 12 months
- Dividend yield
- 28.83%Last 12 months
Price chart
$12.90down $1.00, 7.19%Thu, Nov 5 session
Use the left and right arrow keys to move along the chart.
Price data
Trading
- Previous close$13.90Nov 4
- Volume190.23KNov 5 session
Shares traded on all US exchanges in the last completed session. Live intraday volume covers IEX only, so it is left out.
- Avg. volume154.54KLast 21 sessions
The average daily shares traded over the last 21 trading sessions, about one calendar month.
- 52-week range: $12.72 to $24.07; now $12.90
The lowest and highest trades over the past 52 weeks, adjusted for splits. The marker shows the latest price.
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
Performance
Past performance, measured to the Nov 5 close. Total return includes reinvested dividends.Price change only, without dividends. Compared with the S&P 500, using SPY.
SAR trailed the S&P 500 in all 7 periods.
| Period | SAR and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | SAR: down 19.6% S&P 500: down 5.4% | SAR trailed the S&P 500 by 14.2 percentage points Trailed |
| 3M | SAR: down 27.3% S&P 500: down 4.5% | SAR trailed the S&P 500 by 22.8 percentage points Trailed |
| YTD | SAR: down 34.2% S&P 500: up 8.3% | SAR trailed the S&P 500 by 42.5 percentage points Trailed |
| 1Y | SAR: down 29.3% S&P 500: up 9.3% | SAR trailed the S&P 500 by 38.6 percentage points Trailed |
| Long term | ||
| 3Y | SAR: down 17.4% S&P 500: up 74.8% −6.2% vs +20.5% a year | SAR trailed the S&P 500 by 92.2 percentage points Trailed |
| 5Y | SAR: down 15.7% S&P 500: up 67.3% −3.4% vs +10.8% a year | SAR trailed the S&P 500 by 83.0 percentage points Trailed |
| 10Y | SAR: up 106.3% S&P 500: up 311.8% +7.5% vs +15.2% a year | SAR trailed the S&P 500 by 205.5 percentage points Trailed |
$10,000 invested in SAR 10 years ago (Nov 4, 2016) would be worth about $20,632 at the close on , with dividends reinvested. The same amount in the S&P 500 would be worth about $41,184.
SAR trailed the S&P 500 in all 7 periods.
| Period | SAR and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | SAR: down 22.3% S&P 500: down 5.4% | SAR trailed the S&P 500 by 16.9 percentage points Trailed |
| 3M | SAR: down 32.4% S&P 500: down 4.8% | SAR trailed the S&P 500 by 27.6 percentage points Trailed |
| YTD | SAR: down 44.1% S&P 500: up 7.5% | SAR trailed the S&P 500 by 51.6 percentage points Trailed |
| 1Y | SAR: down 41.2% S&P 500: up 8.2% | SAR trailed the S&P 500 by 49.4 percentage points Trailed |
| Long term | ||
| 3Y | SAR: down 48.1% S&P 500: up 68.6% −19.6% vs +19.0% a year | SAR trailed the S&P 500 by 116.7 percentage points Trailed |
| 5Y | SAR: down 56.0% S&P 500: up 56.4% −15.2% vs +9.4% a year | SAR trailed the S&P 500 by 112.4 percentage points Trailed |
| 10Y | SAR: down 27.8% S&P 500: up 251.5% −3.2% vs +13.4% a year | SAR trailed the S&P 500 by 279.3 percentage points Trailed |
$10,000 invested in SAR 10 years ago (Nov 4, 2016) would be worth about $7,219 at the close on , not counting dividends. The same amount in the S&P 500 would be worth about $35,147.
All-time high
$140.20
Closing high on . Now 90.8% below that record.
Split-adjusted daily closes since Mar 27, 2007.
Stock splits
1
1-for-10 on . Share counts adjust after each split.
Valuation
The Nov 5 close compared with the last 12 months of reported results (the four quarters to Aug 31, 2026). Tap a metric to see how it’s calculated.
Price-to-earnings (P/E)
n/mDiluted EPS of −$0.27 over the last 12 months
A P/E ratio isn’t meaningful while earnings over the last 12 months are negative. When SAR was profitable over the past five years, its P/E ranged from 6.2× to 36.8×, with a median of 12.1×. How to read P/E
Other valuation measures
- 1.7×Last 12 months’ revenue
Market value divided by revenue over the last 12 months. Useful when earnings are small or negative.
P/S = Market cap ÷ Revenue (last 12 months)Price-to-sales ratio - 0.6×Book value as of Aug 31, 2026
Price relative to accounting equity (book value) per share on the Aug 31, 2026 balance sheet. Asset-light companies often trade far above book value.
P/B = Price ÷ Book value per sharePrice-to-book ratio - −73.55%Last 12 months’ free cash flow
Free cash flow over the last 12 months as a share of the company’s market value: the cash the business generated for each dollar of stock.
FCF yield = Free cash flow (last 12 months) ÷ Market capFree cash flow - $1.00BAt the Nov 5 close
What it would cost to buy the whole business: the market cap at the Nov 5 close, plus debt, minus cash and short-term investments from the Aug 31, 2026 balance sheet.
EV = Market cap + Debt − Cash and short-term investmentsEV/EBITDA explained
Build your own SAR DCF in Excel. Value Saratoga Investment with your own growth and margin assumptions.Browse DCF models Free DCF calculator
Financials
Reported results, not forecasts. From company filings via Tiingo; the latest report is Q2 FY27, the quarter ended Aug 31, 2026. “Last 12 months” means the four quarters from Sep 1, 2025 to Aug 31, 2026, and balance-sheet figures are as of Aug 31, 2026.
Revenue and net income
Last 12 months, with the change from the 12 months before
- Revenue
- $124.71Mdown 4.2%
- Net income
- −$4.18M
- Diluted EPS
- −$0.27
Data table
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| Q3 FY25 (Nov 30, 2024) | $35.88M | $8.83M | $0.64 |
| Q4 FY25 (Feb 28, 2025) | $31.30M | −$676.76K | −$0.07 |
| Q1 FY26 (May 31, 2025) | $32.32M | $13.93M | $0.91 |
| Q2 FY26 (Aug 31, 2025) | $30.63M | $13.29M | $0.84 |
| Q3 FY26 (Nov 30, 2025) | $31.65M | $12.00M | $0.74 |
| Q4 FY26 (Feb 28, 2026) | $31.12M | −$2.61M | −$0.18 |
| Q1 FY27 (May 31, 2026) | $30.78M | −$6.90M | −$0.42 |
| Q2 FY27 (Aug 31, 2026) | $31.17M | −$6.66M | −$0.41 |
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| FY22 (Feb 28, 2022) | $70.74M | $45.74M | $3.99 |
| FY23 (Feb 28, 2023) | $99.10M | $24.68M | $2.06 |
| FY24 (Feb 29, 2024) | $143.72M | $8.93M | $0.71 |
| FY25 (Feb 28, 2025) | $148.86M | $28.09M | $2.02 |
| FY26 (Feb 28, 2026) | $125.71M | $36.60M | $2.31 |
Margins
- Gross 36.3%
- Operating 25.9%
- Net −3.3%
The percentages above the chart cover the last 12 months; the lines show each quarter. What margins tell you
Cash flow
- −$154.75MLast 12 months
Cash from operations minus capital spending: the cash left after the business maintains and grows its assets.
FCF = Operating cash flow − Capital spendingFree cash flow - Operating cash flow−$154.75MLast 12 months
- Capital spending$0.00Last 12 months
- −124.1%Last 12 months
Free cash flow as a share of revenue, both over the last 12 months.
Shareholder returns
- $6.95MLast 12 months
Cash spent repurchasing shares, net of shares issued. Buybacks shrink the share count, so each remaining share owns more of the company.
- Dividends paid$46.79MLast 12 months
- Total returned$53.73MLast 12 months
Balance sheet
- Not reportedAs of Aug 31, 2026
Cash plus short- and long-term marketable securities on the Aug 31, 2026 balance sheet.
- Total debt$886.15MAs of Aug 31, 2026
- 2.51As of Aug 31, 2026
Total debt divided by shareholders’ equity on the Aug 31, 2026 balance sheet: a measure of financial leverage.
D/E = Total debt ÷ Shareholders’ equityDebt-to-equity ratio
Financial strength
- −1.1%Last 12 months
Over the last 12 months, Saratoga Investment lost money: its net loss was 1.1% of its shareholders’ equity (averaged over the last four quarter-ends). It describes the past year, not an expected return.
ROE = Net income (last 12 months) ÷ Average equityReturn on equity - −0.3%Last 12 months
Over the last 12 months, Saratoga Investment’s net loss was 0.3% of its total assets (averaged over the last four quarter-ends).
ROA = Net income (last 12 months) ÷ Average total assets
Dividends
Cash dividends per share by ex-dividend year, adjusted for splits.
Dividends per share
Data table
| Year | Per share |
|---|---|
| 2016 | $1.88 |
| 2017 | $2.35 |
| 2018 | $2.06 |
| 2019 | $1.65 |
| 2020 | $1.37 |
| 2021 | $1.81 |
| 2022 | $2.81 |
| 2023 | $2.82 |
| 2024 | $3.30 |
| 2025 | $3.24 |
| 2026 (to date) | $3.22 |
Dividend details
- $3.72Per share, last 12 months
Cash dividends per share with ex-dividend dates in the last 12 months.
- 28.83%; 5-yr low 6.13%, 5-yr high 28.83%Last 12 months
Dividends paid over the last 12 months as a share of the Nov 5 close. The bar shows where that yield sits in its range over the past five years; the median was 12.21%.
- $0.25Ex-dividend
The most recent payment per share. Shares bought on or after the ex-dividend date don’t receive it.
- FrequencyMonthly13 payments in the last 12 months
About Saratoga Investment Corp
Saratoga Investment is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. Saratoga Investment’s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments. Saratoga Investment has elected to be regulated as a business development company under the Investment Company Act of 1940 and is externally managed by Saratoga Investment Advisors, LLC, an SEC-registered investment advisor focusing on credit-driven strategies. Saratoga Investment Corp. owns two active SBIC-licensed subsidiaries, having surrendered its first license after repaying all debentures for that fund following the end of its investment period and subsequent wind-down. Furthermore, it manages a $650 million collateralized loan obligation (“CLO”) fund that is in wind-down and co-manages a joint venture (“JV”) fund that owns a $400 million collateralized loan obligation (“JV CLO”) fund. It also owns 52% of the Class F and 100% of the subordinated notes of the CLO, 87.5% of both the unsecured loans and membership interests of the JV and 87.5% of the Class E notes of the JV CLO. The Company’s diverse funding sources, combined with a permanent capital base, enable Saratoga Investment to provide a broad range of financing solutions.
- Sector
- Financial Services
- Industry
- Asset Management
- Headquarters
- New York, USA
- SEC filings
- EDGAR (opens in a new tab)
- Exchange
- NYSE
- Asset type
- Common stock
- Price history since
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SAR stock FAQ
What is SAR stock’s price today?
Saratoga Investment (SAR) traded at $12.90 at the close on , down $1.00 (7.19%) from the previous close of $13.90. Over the past 52 weeks it has traded between $12.72 and $24.07.
If you invested $1,000 in SAR 10 years ago, how much would you have now?
With dividends reinvested, $1,000 invested in SAR on would be worth about $2,063 at the close on , a total return of +106.3%. The same $1,000 would be worth $843 if invested five years ago and $707 if invested one year ago. Past performance doesn’t predict future returns.
What is Saratoga Investment’s market cap?
Saratoga Investment’s market capitalization is about $210.4 million. That’s Tiingo’s daily market cap for , at that day’s closing price of $12.90 (how market cap works). Saratoga Investment reported 16.31M shares outstanding at the end of its latest quarter ().
What is SAR’s P/E ratio?
SAR’s P/E ratio isn’t meaningful right now because its earnings over the four quarters to are negative (diluted EPS of −$0.27). When it was profitable over the past five years, its P/E ranged from 6.2 to 36.8.
How much revenue does Saratoga Investment make?
Saratoga Investment reported $124.7 million of revenue over the four quarters to , down 4.2% from the twelve months before. In its latest quarter (Q2 FY27, ended ) revenue was $31.2 million, up 1.8% from a year earlier.
Is Saratoga Investment profitable?
Not over the four quarters to . Saratoga Investment reported a net loss of $4.2 million across those four quarters on $124.7 million of revenue. Its operations were still profitable before interest, other items and taxes, with $32.3 million of operating income.
What are SAR’s earnings per share?
SAR’s diluted earnings per share were −$0.27 over the four quarters to , compared with $2.32 in the twelve months before. The latest quarter (Q2 FY27) brought −$0.41 per share, against $0.84 a year earlier (how EPS works).
Does SAR pay a dividend?
Yes. Saratoga Investment pays a monthly dividend. The most recent was $0.25 per share, with an ex-dividend date of . Over the last twelve months it paid $3.72 per share, a 28.83% yield at the close (how dividend yield works).
Based on the last 12 months’ payments ($3.72 per share), and if the next 12 months match the last 12, 100 shares would receive about $372 over 12 months, and $1,000 over 12 months would take about 269 shares, roughly $3,470 at the close. Dividends can change.
What is SAR’s 52-week high and low?
Over the past 52 weeks SAR has traded as low as $12.72 and as high as $24.07. At $12.90 at the close on , it is 46.4% below that high and 1.4% above the low.
What is SAR’s all-time high?
SAR’s highest closing price was $140.20 on , adjusted for stock splits. At $12.90 at the close on , it is 90.8% below that record.
Has SAR stock ever split?
Yes, once: 1-for-10 on .
How has SAR stock performed?
Including dividends and measured to the close on , SAR has returned −34.2% so far this year and −29.3% over the past year, and −15.7% over five years (−3.4% a year). Over the same periods the S&P 500, measured by SPY, returned +8.3%, +9.3% and +67.3%. Past performance doesn’t predict future returns.
What sector and industry is Saratoga Investment in?
Saratoga Investment is in the Financial Services sector and the Asset Management industry, and is headquartered in New York, USA.
What exchange does SAR trade on?
Saratoga Investment trades on the NYSE under the ticker symbol SAR. Its price history on this dashboard begins on .
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
About this data. Data sourced by Tiingo (opens in a new tab). The live price is Tiingo’s real-time price, based on IEX trades and quotes; intraday charts show IEX trades, and volume figures are consolidated totals for completed sessions. Prices are split-adjusted, and total returns assume dividends are reinvested. Financials come from company filings and can lag new reports. Times are Eastern.
This page is for education, not investment advice. Past performance doesn't predict future returns. Logos provided by Logo.dev (opens in a new tab).
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