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

NYSE:SAY • US80349A8779

25.14 USD
-0.02 (-0.08%)
Last: Feb 24, 2026, 04:15 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

4

SAY gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 238 industry peers in the Capital Markets industry. SAY scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. SAY has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • SAY had positive earnings in the past year.
  • SAY had a negative operating cash flow in the past year.
  • Each year in the past 5 years SAY has been profitable.
  • In the past 5 years SAY reported 4 times negative operating cash flow.
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 52.94% of its industry peers.
  • Looking at the Return On Equity, with a value of 9.33%, SAY is in line with its industry, outperforming 57.98% of the companies in the same industry.
  • SAY has a Return On Invested Capital of 2.49%. This is in the lower half of the industry: SAY underperforms 60.92% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for SAY 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%
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

  • SAY has a Profit Margin of 30.62%. This is in the better half of the industry: SAY outperforms 75.21% of its industry peers.
  • In the last couple of years the Profit Margin of SAY has declined.
  • SAY has a Operating Margin (29.55%) which is comparable to the rest of the industry.
  • SAY's Operating Margin has improved in the last couple of years.
  • SAY's Gross Margin of 37.43% is on the low side compared to the rest of the industry. SAY is outperformed by 61.34% of its industry peers.
  • In the last couple of years the Gross Margin of SAY 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%
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. Health

2.1 Basic Checks

  • Compared to 1 year ago, SAY has more shares outstanding
  • Compared to 5 years ago, SAY has more shares outstanding
  • 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

  • Based on the Altman-Z score of 0.65, we must say that SAY is in the distress zone and has some risk of bankruptcy.
  • SAY has a Altman-Z score of 0.65. This is comparable to the rest of the industry: SAY outperforms 45.38% of its industry peers.
  • SAY has a Debt/Equity ratio of 1.87. This is a high value indicating a heavy dependency on external financing.
  • Looking at the Debt to Equity ratio, with a value of 1.87, SAY is doing worse than 78.15% of the companies in the same industry.
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

  • A Current Ratio of 11.66 indicates that SAY has no problem at all paying its short term obligations.
  • Looking at the Current ratio, with a value of 11.66, SAY belongs to the top of the industry, outperforming 94.12% of the companies in the same industry.
  • A Quick Ratio of 11.66 indicates that SAY has no problem at all paying its short term obligations.
  • Looking at the Quick ratio, with a value of 11.66, SAY belongs to the top of the industry, outperforming 94.12% of the companies in the same industry.
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. Growth

3.1 Past

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

  • SAY is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.90% yearly.
  • SAY is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -8.28% yearly.
EPS Next Y37.04%
EPS Next 2Y8.9%
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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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • SAY is valuated reasonably with a Price/Earnings ratio of 10.30.
  • SAY's Price/Earnings ratio is a bit cheaper when compared to the industry. SAY is cheaper than 65.13% of the companies in the same industry.
  • SAY's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.64.
  • With a Price/Forward Earnings ratio of 10.39, the valuation of SAY can be described as very reasonable.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of SAY indicates a somewhat cheap valuation: SAY is cheaper than 68.91% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of SAY to the average of the S&P500 Index (27.75), we can say SAY is valued rather cheaply.
Industry RankSector Rank
PE 10.3
Fwd PE 10.39
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 2Y8.9%
EPS Next 3YN/A

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

5

5. Dividend

5.1 Amount

  • SAY has a Yearly Dividend Yield of 12.48%, which is a nice return.
  • SAY's Dividend Yield is a higher than the industry average which is at 6.17.
  • SAY's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
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 2Y8.9%
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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Find the best dividend stocksShow peers with best dividend

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

NYSE:SAY (2/24/2026, 4:15:00 PM)

25.14

-0.02 (-0.08%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-07
Earnings (Next)05-05
Inst Owners15.21%
Inst Owner ChangeN/A
Ins Owners10.27%
Ins Owner ChangeN/A
Market Cap406.77M
Revenue(TTM)125.89M
Net Income(TTM)38.54M
Analysts67.69
Price Target25.35 (0.84%)
Short Float %0.01%
Short Ratio0.39
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)-2.3%
PT rev (3m)-6.35%
EPS NQ rev (1m)-1.59%
EPS NQ rev (3m)-0.92%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.94%
Revenue NQ rev (1m)-1.89%
Revenue NQ rev (3m)-1.16%
Revenue NY rev (1m)-0.86%
Revenue NY rev (3m)-0.49%
Valuation
Industry RankSector Rank
PE 10.3
Fwd PE 10.39
P/S 3.23
P/FCF N/A
P/OCF N/A
P/B 0.98
P/tB 0.98
EV/EBITDA N/A
EPS(TTM)2.44
EY9.71%
EPS(NY)2.42
Fwd EY9.62%
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 2Y8.9%
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-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 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 10.3 and the Price/Book (PB) ratio is 0.98.


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.