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Jul 7, 2026·SEC
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Saratoga Investment Corp 6.00%(SAT)Earnings, Financials & Key Ratios
SAT•NYSE•Banking & Credit
$25.12
10.9× P/E·Price updated Jul 7, 2026
AboutSaratoga Investment Corp. is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates. It has elected to be treated as a business development company under the Investment Company Act of 1940. Saratoga Investment Corp. is traded on the New York Stock Exchange under the symbol ''SAR.'' Saratoga Investment Corp. includes an SBIC-licensed subsidiary.Show more
- Net Interest Income$65M-23.4%
- Total Revenue$99M+5.4%
- Net Income$37M+30.3%
- Return on Equity9.28%+26.0%
- Net Interest Margin5.75%-19.9%
- Efficiency Ratio11.92%+10.7%
- ROA3.14%+33.2%
- Equity / Assets34.77%+5.5%
- Book Value per Share24.99-11.4%
SAT Price & Volume
Saratoga Investment Corp 6.00% (SAT) stock price & volume — 10-year historical chart
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Volatile Asset Base Challenges Dividend Sustainability Outlook
Investment Thesis • Updated 2026Q4
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Vulnerable
Cash Flow:Mixed
Primary Risk:Portfolio Valuation and Liquidity
Key Thesis Takeaways
- Saratoga Investment Corp faces significant structural headwinds characterized by extreme revenue volatility and a recent, dramatic contraction in total assets from $1.2 billion in 2026Q3 to $389.6 million in 2026Q4.
- The firm's reliance on lumpy investment exits creates an inconsistent earnings profile that frequently fails to cover dividend distributions, as evidenced by the 2026Q4 payout of $14.4 million against only $9.0 million in free cash flow.
- Investors should remain cautious regarding the firm's elevated leverage and the persistent erosion of its retained earnings base, which reached -$43.1 million in the most recent quarter.
Verdict Logic
the firm's inability to maintain consistent dividend coverage, highlighted by the 2026Q4 dividend payout of $14.4 million exceeding the $9.0 million in free cash flow, suggests significant long-term solvency risks.
SAT Growth Metrics
Saratoga Investment Corp 6.00% (SAT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years15.13%
5 Years19.98%
3 Years12.41%
TTM-
Profit CAGR
10 Years12.13%
5 Years19.89%
3 Years14.05%
TTM-35.97%
EPS CAGR
10 Years1.01%
5 Years11.84%
3 Years3.89%
TTM-59.57%
Return on Capital
10 Years4.52%
5 Years3.3%
3 Years2.37%
Last Year3.39%
SAT Recent Earnings
Saratoga Investment Corp 6.00% (SAT) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (60%)●Beat Revenue 3/12 qtrs (60%)
Q2 2026Latest
May 13, 2026Metric
Actual
Est
EPS
$0.56+0.4%
$0.56
Rev
$62.7B+203240.3%
$31M
Q1 2026
Jan 7, 2026Metric
Actual
Est
EPS
$0.61+3.7%
$0.59
Rev
$32M+2.3%
$31M
Q4 2025
Oct 7, 2025Metric
Actual
Est
EPS
$0.58-12.3%
$0.66
Rev
$30.6B-5.1%
$32.3B
Q3 2025
Jul 8, 2025Metric
Actual
Est
EPS
$0.91+26.8%
$0.72
Rev
$35M+8.8%
$32M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 13, 2026 | $0.56vs $0.56+0.4% | $62.7Bvs $31M+203240.3% |
| Q1 2026 | Jan 7, 2026 | $0.61vs $0.59+3.7% | $32Mvs $31M+2.3% |
| Q4 2025 | Oct 7, 2025 | $0.58vs $0.66-12.3% | $30.6Bvs $32.3B-5.1% |
| Q3 2025 | Jul 8, 2025 | $0.91vs $0.72+26.8% | $35Mvs $32M+8.8% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Saratoga Investment Corp 6.00% (SAT)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $25.12 | $406.54M | 10.87 | 5.37% | 36.89% | 9.28% | 13.15% | |
| $20.93 | $340.48M | 9.06 | 5.37% | 0.07% | 0.02% | — | |
| $12.75 | $3.32B | 8.98 | 42.5% | 26.91% | 5.24% | — | |
| $18.47 | $13.26B | 9.93 | 32.87% | 43.69% | 8.11% | — | |
| $4.90 | $991.12M | 6.45 | -18.64% | — | — | — | |
| $4.75 | $192.85M | 3.89 | 36.55% | -19.55% | -3.39% | — |
Compare SAT vs Peers
Saratoga Investment Corp 6.00% (SAT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SAT SEC Filings & Documents
Saratoga Investment Corp 6.00% (SAT) SEC filings — annual & quarterly reports (10-K, 10-Q)
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SAT Frequently Asked Questions
Saratoga Investment Corp 6.00% (SAT) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is Saratoga Investment Corp 6.00% growing?
Saratoga Investment Corp 6.00% (SAT) grew revenue by 5.4% over the past year. This is steady growth.
Is SAT profitable?
Yes, Saratoga Investment Corp 6.00% (SAT) is profitable, generating $22.7M in net income for fiscal year 2026 (36.9% net margin).
Dividend & Returns
Does SAT pay dividends?
Yes, Saratoga Investment Corp 6.00% (SAT) pays a dividend with a yield of 13.15%. This makes it attractive for income-focused investors.
What is SAT's return on equity?
Saratoga Investment Corp 6.00% (SAT) has a return on equity (ROE) of 9.3%. This is below average, suggesting room for improvement.
Industry Metrics
What is Saratoga Investment Corp 6.00%'s net interest margin?
Saratoga Investment Corp 6.00% (SAT) has a net interest margin (NIM) of 5.7%. This indicates healthy earnings from lending activities.
What is Saratoga Investment Corp 6.00%'s efficiency ratio?
Saratoga Investment Corp 6.00% (SAT) has an efficiency ratio of 11.9%. This is excellent, indicating strong cost control.