SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY) Fundamental Analysis & Valuation

NYSE:SAY • US80349A8779

Current stock price

25.245 USD
-0.2 (-0.77%)
Last:

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

3

1. SAY Profitability Analysis

1.1 Basic Checks

  • In the past year SAY was profitable.
  • In the past year SAY has reported a negative cash flow from operations.
  • Each year in the past 5 years SAY has been profitable.
  • SAY had negative operating cash flow in 4 of the past 5 years.
SAY Yearly Net Income VS EBIT VS OCF VS FCFSAY 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

  • SAY's Return On Assets of 3.22% is in line compared to the rest of the industry. SAY outperforms 52.48% of its industry peers.
  • SAY has a Return On Equity (9.33%) which is in line with its industry peers.
  • SAY has a Return On Invested Capital of 2.49%. This is in the lower half of the industry: SAY underperforms 61.57% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SAY is below the industry average of 7.14%.
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%
SAY Yearly ROA, ROE, ROICSAY 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%, SAY is doing good in the industry, outperforming 73.14% of the companies in the same industry.
  • SAY's Profit Margin has declined in the last couple of years.
  • SAY has a Operating Margin of 29.55%. This is comparable to the rest of the industry: SAY outperforms 57.02% of its industry peers.
  • SAY's Operating Margin has improved in the last couple of years.
  • SAY has a worse Gross Margin (37.43%) than 61.98% of its industry peers.
  • SAY's Gross Margin has improved in the last couple of years.
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%
SAY Yearly Profit, Operating, Gross MarginsSAY 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. SAY Health Analysis

2.1 Basic Checks

  • Compared to 1 year ago, SAY has more shares outstanding
  • SAY has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for SAY has been reduced compared to a year ago.
SAY Yearly Shares OutstandingSAY Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M
SAY Yearly Total Debt VS Total AssetsSAY 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

  • SAY has an Altman-Z score of 0.65. This is a bad value and indicates that SAY is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of SAY (0.65) is comparable to the rest of the industry.
  • SAY has a Debt/Equity ratio of 1.87. This is a high value indicating a heavy dependency on external financing.
  • SAY has a worse Debt to Equity ratio (1.87) than 78.93% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.87
Debt/FCF N/A
Altman-Z 0.65
ROIC/WACCN/A
WACCN/A
SAY Yearly LT Debt VS Equity VS FCFSAY 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

  • SAY has a Current Ratio of 11.66. This indicates that SAY is financially healthy and has no problem in meeting its short term obligations.
  • SAY's Current ratio of 11.66 is amongst the best of the industry. SAY outperforms 93.39% of its industry peers.
  • A Quick Ratio of 11.66 indicates that SAY has no problem at all paying its short term obligations.
  • The Quick ratio of SAY (11.66) is better than 93.39% of its industry peers.
Industry RankSector Rank
Current Ratio 11.66
Quick Ratio 11.66
SAY Yearly Current Assets VS Current LiabilitesSAY 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. SAY Growth Analysis

3.1 Past

  • SAY shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.61%.
  • The earnings per share for SAY have been decreasing by -18.46% on average. This is quite bad
  • SAY shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -18.68%.
  • The Revenue has been growing by 20.56% on average over the past years. This is a very strong growth!
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

  • The Earnings Per Share is expected to grow by 8.28% on average over the next years. This is quite good.
  • 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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SAY Yearly Revenue VS EstimatesSAY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 50M 100M 150M
SAY Yearly EPS VS EstimatesSAY 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. SAY Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 10.35, the valuation of SAY can be described as reasonable.
  • SAY's Price/Earnings ratio is a bit cheaper when compared to the industry. SAY is cheaper than 63.22% of the companies in the same industry.
  • SAY is valuated cheaply when we compare the Price/Earnings ratio to 25.23, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 10.55, which indicates a very decent valuation of SAY.
  • SAY's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SAY is cheaper than 64.05% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 23.28. SAY is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 10.35
Fwd PE 10.55
SAY Price Earnings VS Forward Price EarningsSAY 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
SAY Per share dataSAY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20 25

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.28
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

5

5. SAY Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 12.48%, SAY is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 6.94, SAY pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.91, SAY pays a better dividend.
Industry RankSector Rank
Dividend Yield 12.48%

5.2 History

  • The dividend of SAY is nicely growing with an annual growth rate of 9.46%!
  • SAY has paid a dividend for less than 5 years, so there is no long track record yet.
Dividend Growth(5Y)9.46%
Div Incr Years1
Div Non Decr Years1
SAY Yearly Dividends per shareSAY Yearly Dividends per shareYearly Dividends per share 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • SAY pays out 134.05% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of SAY is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP134.05%
EPS Next 2Y8.28%
EPS Next 3YN/A
SAY Yearly Income VS Free CF VS DividendSAY 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
SAY Dividend Payout.SAY Dividend Payout, showing the Payout Ratio.SAY Dividend Payout.PayoutRetained Earnings

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SAY Fundamentals: All Metrics, Ratios and Statistics

SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27

NYSE:SAY (3/20/2026, 8:21:57 PM)

25.245

-0.2 (-0.77%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-07
Earnings (Next)05-05
Inst Owners13.87%
Inst Owner ChangeN/A
Ins Owners10.21%
Ins Owner ChangeN/A
Market Cap408.46M
Revenue(TTM)125.89M
Net Income(TTM)38.54M
Analysts68.33
Price Target26.13 (3.51%)
Short Float %0.03%
Short Ratio0.64
Dividend
Industry RankSector Rank
Dividend Yield 12.48%
Yearly Dividend2.83
Dividend Growth(5Y)9.46%
DP134.05%
Div Incr Years1
Div Non Decr Years1
Ex-Date02-13
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)3.08%
PT rev (3m)-1.27%
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)-1.16%
Revenue NY rev (1m)-0.86%
Revenue NY rev (3m)-0.14%
Valuation
Industry RankSector Rank
PE 10.35
Fwd PE 10.55
P/S 3.24
P/FCF N/A
P/OCF N/A
P/B 0.99
P/tB 0.99
EV/EBITDA N/A
EPS(TTM)2.44
EY9.67%
EPS(NY)2.39
Fwd EY9.48%
FCF(TTM)-0.96
FCFYN/A
OCF(TTM)-0.96
OCFYN/A
SpS7.78
BVpS25.54
TBVpS25.54
PEG (NY)0.28
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 0.65
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 8 1/8 12/31/27 / SAY Fundamental Analysis FAQ

What is the fundamental rating for SAY stock?

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


What is the valuation status of SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY) stock?

ChartMill assigns a valuation rating of 5 / 10 to SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY). This can be considered as Fairly Valued.


What is the profitability of SAY stock?

SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY) has a profitability rating of 3 / 10.


What are the PE and PB ratios of SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY) stock?

The Price/Earnings (PE) ratio for SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY) is 10.35 and the Price/Book (PB) ratio is 0.99.


What is the expected EPS growth for SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY) stock?

The Earnings per Share (EPS) of SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY) is expected to grow by 37.04% in the next year.