SARATOGA INVESTMENT CORP (SAR) Stock Fundamental Analysis

NYSE:SAR • US80349A2087

23.29 USD
+0.15 (+0.65%)
Last: Feb 20, 2026, 08:04 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to SAR. SAR was compared to 237 industry peers in the Capital Markets industry. Both the profitability and the financial health of SAR get a neutral evaluation. Nothing too spectacular is happening here. SAR has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • SAR had positive earnings in the past year.
  • SAR had a negative operating cash flow in the past year.
  • Each year in the past 5 years SAR has been profitable.
  • In the past 5 years SAR reported 4 times negative operating cash flow.
SAR Yearly Net Income VS EBIT VS OCF VS FCFSAR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M -200M

1.2 Ratios

  • With a Return On Assets value of 3.22%, SAR perfoms like the industry average, outperforming 53.59% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 9.33%, SAR is in line with its industry, outperforming 57.81% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 2.49%, SAR is in line with its industry, outperforming 40.08% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for SAR is below the industry average of 7.31%.
Industry RankSector Rank
ROA 3.22%
ROE 9.33%
ROIC 2.49%
ROA(3y)1.8%
ROA(5y)2.62%
ROE(3y)5.56%
ROE(5y)6.88%
ROIC(3y)3.34%
ROIC(5y)3%
SAR Yearly ROA, ROE, ROICSAR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • With a decent Profit Margin value of 30.62%, SAR is doing good in the industry, outperforming 76.37% of the companies in the same industry.
  • In the last couple of years the Profit Margin of SAR has declined.
  • With a Operating Margin value of 29.55%, SAR perfoms like the industry average, outperforming 59.49% of the companies in the same industry.
  • In the last couple of years the Operating Margin of SAR has grown nicely.
  • Looking at the Gross Margin, with a value of 37.43%, SAR is doing worse than 60.76% of the companies in the same industry.
  • In the last couple of years the Gross Margin of SAR has grown nicely.
Industry RankSector Rank
OM 29.55%
PM (TTM) 30.62%
GM 37.43%
OM growth 3Y8.45%
OM growth 5Y5.8%
PM growth 3Y-33.67%
PM growth 5Y-27.68%
GM growth 3Y5.15%
GM growth 5Y4.57%
SAR Yearly Profit, Operating, Gross MarginsSAR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • The number of shares outstanding for SAR has been increased compared to 1 year ago.
  • SAR has more shares outstanding than it did 5 years ago.
  • SAR has a better debt/assets ratio than last year.
SAR Yearly Shares OutstandingSAR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M
SAR Yearly Total Debt VS Total AssetsSAR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.2 Solvency

  • Based on the Altman-Z score of 0.62, we must say that SAR is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 0.62, SAR is in line with its industry, outperforming 43.46% of the companies in the same industry.
  • SAR has a Debt/Equity ratio of 1.87. This is a high value indicating a heavy dependency on external financing.
  • SAR has a Debt to Equity ratio of 1.87. This is in the lower half of the industry: SAR underperforms 77.22% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.87
Debt/FCF N/A
Altman-Z 0.62
ROIC/WACCN/A
WACCN/A
SAR Yearly LT Debt VS Equity VS FCFSAR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M 600M 800M

2.3 Liquidity

  • A Current Ratio of 11.66 indicates that SAR has no problem at all paying its short term obligations.
  • Looking at the Current ratio, with a value of 11.66, SAR belongs to the top of the industry, outperforming 93.25% of the companies in the same industry.
  • A Quick Ratio of 11.66 indicates that SAR has no problem at all paying its short term obligations.
  • SAR has a Quick ratio of 11.66. This is amongst the best in the industry. SAR outperforms 93.25% of its industry peers.
Industry RankSector Rank
Current Ratio 11.66
Quick Ratio 11.66
SAR Yearly Current Assets VS Current LiabilitesSAR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The earnings per share for SAR have decreased by -1.61% in the last year.
  • Measured over the past years, SAR shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -18.46% on average per year.
  • Looking at the last year, SAR shows a very negative growth in Revenue. The Revenue has decreased by -18.68% in the last year.
  • SAR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 20.56% yearly.
EPS 1Y (TTM)-1.61%
EPS 3Y-20.24%
EPS 5Y-18.46%
EPS Q2Q%15.62%
Revenue 1Y (TTM)-18.68%
Revenue growth 3Y28.14%
Revenue growth 5Y20.56%
Sales Q2Q%-2.34%

3.2 Future

  • SAR is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.90% yearly.
  • Based on estimates for the next years, SAR will show a decrease in Revenue. The Revenue will decrease by -7.89% on average per year.
EPS Next Y37.04%
EPS Next 2Y8.9%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-15.48%
Revenue Next 2Y-7.89%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SAR Yearly Revenue VS EstimatesSAR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 50M 100M 150M
SAR Yearly EPS VS EstimatesSAR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3 4 5

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5

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 9.55, which indicates a very decent valuation of SAR.
  • Compared to the rest of the industry, the Price/Earnings ratio of SAR indicates a somewhat cheap valuation: SAR is cheaper than 69.62% of the companies listed in the same industry.
  • SAR is valuated cheaply when we compare the Price/Earnings ratio to 26.99, which is the current average of the S&P500 Index.
  • With a Price/Forward Earnings ratio of 9.63, the valuation of SAR can be described as very reasonable.
  • 74.26% of the companies in the same industry are more expensive than SAR, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 28.06, SAR is valued rather cheaply.
Industry RankSector Rank
PE 9.55
Fwd PE 9.63
SAR Price Earnings VS Forward Price EarningsSAR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
SAR Per share dataSAR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20 25

4.3 Compensation for Growth

  • SAR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.26
PEG (5Y)N/A
EPS Next 2Y8.9%
EPS Next 3YN/A

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 12.48%, SAR is a good candidate for dividend investing.
  • SAR's Dividend Yield is a higher than the industry average which is at 6.04.
  • Compared to an average S&P500 Dividend Yield of 1.85, SAR pays a better dividend.
Industry RankSector Rank
Dividend Yield 12.48%

5.2 History

  • On average, the dividend of SAR grows each year by 9.46%, which is quite nice.
  • SAR has paid a dividend for at least 10 years, which is a reliable track record.
  • SAR has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)9.46%
Div Incr Years4
Div Non Decr Years4
SAR Yearly Dividends per shareSAR Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • 134.05% of the earnings are spent on dividend by SAR. This is not a sustainable payout ratio.
  • SAR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP134.05%
EPS Next 2Y8.9%
EPS Next 3YN/A
SAR Yearly Income VS Free CF VS DividendSAR Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M -100M -200M
SAR Dividend Payout.SAR Dividend Payout, showing the Payout Ratio.SAR Dividend Payout.PayoutRetained Earnings

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SARATOGA INVESTMENT CORP

NYSE:SAR (2/20/2026, 8:04:15 PM)

23.29

+0.15 (+0.65%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-07
Earnings (Next)05-05
Inst Owners15.21%
Inst Owner Change2.91%
Ins Owners10.27%
Ins Owner Change-0.94%
Market Cap376.83M
Revenue(TTM)125.89M
Net Income(TTM)38.54M
Analysts67.69
Price Target23.8 (2.19%)
Short Float %3.05%
Short Ratio3.82
Dividend
Industry RankSector Rank
Dividend Yield 12.48%
Yearly Dividend2.83
Dividend Growth(5Y)9.46%
DP134.05%
Div Incr Years4
Div Non Decr Years4
Ex-Date03-03
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)22.13%
Min EPS beat(2)21.57%
Max EPS beat(2)22.68%
EPS beat(4)2
Avg EPS beat(4)-16.41%
Min EPS beat(4)-107.09%
Max EPS beat(4)22.68%
EPS beat(8)3
Avg EPS beat(8)-25.67%
EPS beat(12)4
Avg EPS beat(12)-31.12%
EPS beat(16)5
Avg EPS beat(16)-35.05%
Revenue beat(2)1
Avg Revenue beat(2)2.35%
Min Revenue beat(2)-1.85%
Max Revenue beat(2)6.55%
Revenue beat(4)2
Avg Revenue beat(4)2.22%
Min Revenue beat(4)-6.72%
Max Revenue beat(4)10.88%
Revenue beat(8)4
Avg Revenue beat(8)0.09%
Revenue beat(12)6
Avg Revenue beat(12)2.19%
Revenue beat(16)9
Avg Revenue beat(16)3.02%
PT rev (1m)0.51%
PT rev (3m)-0.1%
EPS NQ rev (1m)-2.96%
EPS NQ rev (3m)-1.31%
EPS NY rev (1m)-3.94%
EPS NY rev (3m)-3.94%
Revenue NQ rev (1m)-1.71%
Revenue NQ rev (3m)-1.84%
Revenue NY rev (1m)0.37%
Revenue NY rev (3m)0.37%
Valuation
Industry RankSector Rank
PE 9.55
Fwd PE 9.63
P/S 2.99
P/FCF N/A
P/OCF N/A
P/B 0.91
P/tB 0.91
EV/EBITDA N/A
EPS(TTM)2.44
EY10.48%
EPS(NY)2.42
Fwd EY10.39%
FCF(TTM)-0.96
FCFYN/A
OCF(TTM)-0.96
OCFYN/A
SpS7.78
BVpS25.54
TBVpS25.54
PEG (NY)0.26
PEG (5Y)N/A
Graham Number37.44
Profitability
Industry RankSector Rank
ROA 3.22%
ROE 9.33%
ROCE 3.15%
ROIC 2.49%
ROICexc 2.9%
ROICexgc 2.91%
OM 29.55%
PM (TTM) 30.62%
GM 37.43%
FCFM N/A
ROA(3y)1.8%
ROA(5y)2.62%
ROE(3y)5.56%
ROE(5y)6.88%
ROIC(3y)3.34%
ROIC(5y)3%
ROICexc(3y)3.72%
ROICexc(5y)3.29%
ROICexgc(3y)3.72%
ROICexgc(5y)3.29%
ROCE(3y)4.22%
ROCE(5y)3.8%
ROICexgc growth 3Y30.31%
ROICexgc growth 5Y10.28%
ROICexc growth 3Y30.28%
ROICexc growth 5Y10.29%
OM growth 3Y8.45%
OM growth 5Y5.8%
PM growth 3Y-33.67%
PM growth 5Y-27.68%
GM growth 3Y5.15%
GM growth 5Y4.57%
F-Score3
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity 1.87
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 0.81
Cash Conversion N/A
Profit Quality N/A
Current Ratio 11.66
Quick Ratio 11.66
Altman-Z 0.62
F-Score3
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1.61%
EPS 3Y-20.24%
EPS 5Y-18.46%
EPS Q2Q%15.62%
EPS Next Y37.04%
EPS Next 2Y8.9%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-18.68%
Revenue growth 3Y28.14%
Revenue growth 5Y20.56%
Sales Q2Q%-2.34%
Revenue Next Year-15.48%
Revenue Next 2Y-7.89%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-35.76%
EBIT growth 3Y38.97%
EBIT growth 5Y27.55%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y85.07%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y85.07%
OCF growth 3YN/A
OCF growth 5YN/A

SARATOGA INVESTMENT CORP / SAR FAQ

What is the ChartMill fundamental rating of SARATOGA INVESTMENT CORP (SAR) stock?

ChartMill assigns a fundamental rating of 4 / 10 to SAR.


What is the valuation status of SARATOGA INVESTMENT CORP (SAR) stock?

ChartMill assigns a valuation rating of 5 / 10 to SARATOGA INVESTMENT CORP (SAR). This can be considered as Fairly Valued.


How profitable is SARATOGA INVESTMENT CORP (SAR) stock?

SARATOGA INVESTMENT CORP (SAR) has a profitability rating of 4 / 10.


How financially healthy is SARATOGA INVESTMENT CORP?

The financial health rating of SARATOGA INVESTMENT CORP (SAR) is 4 / 10.


Can you provide the expected EPS growth for SAR stock?

The Earnings per Share (EPS) of SARATOGA INVESTMENT CORP (SAR) is expected to grow by 37.04% in the next year.