SARATOGA INVESTMENT CORP (SAR) Fundamental Analysis & Valuation

NYSE:SAR • US80349A2087

Current stock price

20.92 USD
-1.18 (-5.34%)
Last:

This SAR fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. SAR Profitability Analysis

1.1 Basic Checks

  • In the past year SAR was profitable.
  • In the past year SAR has reported a negative cash flow from operations.
  • Each year in the past 5 years SAR has been profitable.
  • SAR had negative operating cash flow in 4 of the past 5 years.
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

  • Looking at the Return On Assets, with a value of 3.22%, SAR is in line with its industry, outperforming 55.65% of the companies in the same industry.
  • The Return On Equity of SAR (9.33%) is better than 60.67% of its industry peers.
  • The Return On Invested Capital of SAR (2.49%) is worse than 60.67% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SAR is below the industry average of 7.28%.
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

  • SAR has a better Profit Margin (30.62%) than 76.57% of its industry peers.
  • In the last couple of years the Profit Margin of SAR has declined.
  • SAR has a Operating Margin of 29.55%. This is comparable to the rest of the industry: SAR outperforms 58.58% of its industry peers.
  • In the last couple of years the Operating Margin of SAR has grown nicely.
  • The Gross Margin of SAR (37.43%) is worse than 60.67% of its industry peers.
  • 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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4

2. SAR Health Analysis

2.1 Basic Checks

  • Compared to 1 year ago, SAR has more shares outstanding
  • The number of shares outstanding for SAR has been increased compared to 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

  • SAR has an Altman-Z score of 0.60. This is a bad value and indicates that SAR is not financially healthy and even has some risk of bankruptcy.
  • SAR has a Altman-Z score (0.60) which is comparable to the rest of the industry.
  • SAR has a Debt/Equity ratio of 1.87. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 1.87, SAR is not doing good in the industry: 76.99% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.87
Debt/FCF N/A
Altman-Z 0.6
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.
  • SAR's Current ratio of 11.66 is amongst the best of the industry. SAR outperforms 95.40% of its industry peers.
  • SAR has a Quick Ratio of 11.66. This indicates that SAR is financially healthy and has no problem in meeting its short term obligations.
  • SAR has a better Quick ratio (11.66) than 95.40% 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. SAR Growth Analysis

3.1 Past

  • SAR shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.61%.
  • SAR shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -18.46% yearly.
  • Looking at the last year, SAR shows a very negative growth in Revenue. The Revenue has decreased by -18.68% in the last year.
  • Measured over the past years, SAR shows a very strong growth in Revenue. The Revenue has been growing by 20.56% on average per year.
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 8.28% yearly.
  • The Revenue is expected to decrease by -8.28% on average over the next years.
EPS Next Y37.04%
EPS Next 2Y8.28%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-16.21%
Revenue Next 2Y-8.28%
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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. SAR Valuation Analysis

4.1 Price/Earnings Ratio

  • SAR is valuated reasonably with a Price/Earnings ratio of 8.57.
  • Based on the Price/Earnings ratio, SAR is valued a bit cheaper than the industry average as 69.04% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 24.88, SAR is valued rather cheaply.
  • With a Price/Forward Earnings ratio of 8.75, the valuation of SAR can be described as very reasonable.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of SAR indicates a somewhat cheap valuation: SAR is cheaper than 71.97% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, SAR is valued rather cheaply.
Industry RankSector Rank
PE 8.57
Fwd PE 8.75
SAR Price Earnings VS Forward Price EarningsSAR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

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)0.23
PEG (5Y)N/A
EPS Next 2Y8.28%
EPS Next 3YN/A

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

6

5. SAR Dividend Analysis

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 6.76.
  • SAR's Dividend Yield is rather good when compared to the S&P500 average which is at 1.89.
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 been paying a dividend for at least 10 years, so it has 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 2Y8.28%
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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SAR Fundamentals: All Metrics, Ratios and Statistics

SARATOGA INVESTMENT CORP

NYSE:SAR (3/27/2026, 8:04:00 PM)

20.92

-1.18 (-5.34%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-07
Earnings (Next)05-05
Inst Owners13.87%
Inst Owner Change-4.91%
Ins Owners10.21%
Ins Owner Change-0.94%
Market Cap339.32M
Revenue(TTM)125.89M
Net Income(TTM)38.54M
Analysts68.33
Price Target23.8 (13.77%)
Short Float %4.14%
Short Ratio4.19
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%
PT rev (3m)-0.1%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.92%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.94%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.3%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.14%
Valuation
Industry RankSector Rank
PE 8.57
Fwd PE 8.75
P/S 2.7
P/FCF N/A
P/OCF N/A
P/B 0.82
P/tB 0.82
EV/EBITDA N/A
EPS(TTM)2.44
EY11.66%
EPS(NY)2.39
Fwd EY11.43%
FCF(TTM)-0.96
FCFYN/A
OCF(TTM)-0.96
OCFYN/A
SpS7.76
BVpS25.48
TBVpS25.48
PEG (NY)0.23
PEG (5Y)N/A
Graham Number37.4
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 0.6
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 2Y8.28%
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-16.21%
Revenue Next 2Y-8.28%
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 Fundamental Analysis 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.