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

NYSE:SAY • US80349A8779

Current stock price

25.42 USD
-0.01 (-0.04%)
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

  • SAY had positive earnings in the past year.
  • In the past year SAY has reported a negative cash flow from operations.
  • In the past 5 years SAY has always 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 has a Return On Assets of 3.22%. This is comparable to the rest of the industry: SAY outperforms 54.17% of its industry peers.
  • SAY has a Return On Equity (9.33%) which is comparable to the rest of the industry.
  • SAY's Return On Invested Capital of 2.49% is on the low side compared to the rest of the industry. SAY is outperformed by 62.92% of its industry peers.
  • SAY had an Average Return On Invested Capital over the past 3 years of 3.34%. This 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%
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

  • Looking at the Profit Margin, with a value of 30.62%, SAY is in the better half of the industry, outperforming 75.00% 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 56.25% of its industry peers.
  • In the last couple of years the Operating Margin of SAY has grown nicely.
  • SAY's Gross Margin of 37.43% is on the low side compared to the rest of the industry. SAY is outperformed by 62.08% 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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4

2. SAY Health Analysis

2.1 Basic Checks

  • SAY has more shares outstanding than it did 1 year ago.
  • The number of shares outstanding for SAY has been increased compared to 5 years ago.
  • SAY has a better debt/assets ratio than last year.
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 (0.65) which is in line with its industry peers.
  • A Debt/Equity ratio of 1.87 is on the high side and indicates that SAY has dependencies on debt financing.
  • The Debt to Equity ratio of SAY (1.87) is worse than 78.75% 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

  • A Current Ratio of 11.66 indicates that SAY has no problem at all paying its short term obligations.
  • SAY's Current ratio of 11.66 is amongst the best of the industry. SAY outperforms 93.75% of its industry peers.
  • SAY has a Quick Ratio of 11.66. This indicates that SAY is financially healthy and has no problem in meeting its short term obligations.
  • SAY has a Quick ratio of 11.66. This is amongst the best in the industry. SAY outperforms 93.75% 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%.
  • SAY shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -18.46% yearly.
  • SAY shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -18.68%.
  • Measured over the past years, SAY 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

  • Based on estimates for the next years, SAY will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.28% on average per year.
  • 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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • 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

  • A Price/Earnings ratio of 10.42 indicates a reasonable valuation of SAY.
  • SAY's Price/Earnings ratio is a bit cheaper when compared to the industry. SAY is cheaper than 65.42% 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 27.71.
  • A Price/Forward Earnings ratio of 10.63 indicates a reasonable valuation of SAY.
  • Based on the Price/Forward Earnings ratio, SAY is valued a bit cheaper than the industry average as 67.08% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of SAY to the average of the S&P500 Index (38.09), we can say SAY is valued rather cheaply.
Industry RankSector Rank
PE 10.42
Fwd PE 10.63
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

  • 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 6.47.
  • Compared to an average S&P500 Dividend Yield of 1.81, SAY pays a better dividend.
Industry RankSector Rank
Dividend Yield 12.48%

5.2 History

  • On average, the dividend of SAY grows each year by 9.46%, which is quite nice.
  • SAY has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)9.46%
Div Incr Years0
Div Non Decr Years0
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.
  • SAY'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
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 (4/21/2026, 8:11:45 PM)

25.42

-0.01 (-0.04%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-07
Earnings (Next)05-05
Inst Owners13.2%
Inst Owner ChangeN/A
Ins Owners10.18%
Ins Owner ChangeN/A
Market Cap412.31M
Revenue(TTM)125.89M
Net Income(TTM)38.54M
Analysts68.33
Price Target26.91 (5.86%)
Short Float %0.01%
Short Ratio0.26
Dividend
Industry RankSector Rank
Dividend Yield 12.48%
Yearly Dividend2.83
Dividend Growth(5Y)9.46%
DP134.05%
Div Incr Years0
Div Non Decr Years0
Ex-Date05-15
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)2.99%
PT rev (3m)3.72%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.96%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.94%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.71%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.49%
Valuation
Industry RankSector Rank
PE 10.42
Fwd PE 10.63
P/S 3.28
P/FCF N/A
P/OCF N/A
P/B 1
P/tB 1
EV/EBITDA N/A
EPS(TTM)2.44
EY9.6%
EPS(NY)2.39
Fwd EY9.41%
FCF(TTM)-0.96
FCFYN/A
OCF(TTM)-0.96
OCFYN/A
SpS7.76
BVpS25.48
TBVpS25.48
PEG (NY)0.28
PEG (5Y)N/A
Graham Number37.3977 (47.12%)
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.


How profitable is SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY) stock?

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


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.


Can you provide the dividend sustainability for SAY stock?

The dividend rating of SARATOGA INVESTMENT CORP - SAR 8 1/8 12/31/27 (SAY) is 5 / 10 and the dividend payout ratio is 134.05%.