Saratoga Investment Corp.

Saratoga Investment Corp.

SARยทNYSE

$22.41

-2.0%
Financial ServicesAsset Management

Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity. The firm prefers to invest in aerospace, automotive aftermarket and services, business products and services, consumer products and services, education, environmental services, industrial services, financial services, food and beverage, healthcare products and services, logistics, distribution, manufacturing, restaurants services, food services, software services, technology services, specialty chemical, media and telecommunications. It seeks to invest in the United States. The firm primarily invests $5 million to $50 million in companies having EBITDA of $2 million or greater and revenues of $8 million to $250 million. The firm prefer to take a majority stake. It invests through direct lending as well as participation in loan syndicates. The firm was formerly known as GSC Investment Corp. Saratoga Investment Corp. is based in New York, New York with an additional office in Florham Park, New Jersey.

At a Glance

Live Snapshot
Market Cap$364.56M
EPS2.3100
P/E Ratio9.70
Earnings Date07/14/2026
3Y-32.0%
5Y+41.0%
10Y-1406.0%
3Y-
5Y-100.0%
10Y-100.0%
3Y-155.0%
5Y-280.0%
10Y-1242.0%
SAR

Saratoga Investment Corp. Cash Conversion Engine

SAR ยท NYSE
Net Income36.60M
Depreciation & Amortization0.00
Stock-Based Compensation0.00
Change in Working Capital1.11M
Others-125.74M
Capital Expenditures0.00
Free Cash Flow-88.03M

Cash Flow Quality Analysis

FCF Conversion Rate

-240.5%

Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.

FCF Growth Trend

-144.6%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

+$1.11M

Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.

Cash Flow Quality Insight

Cash flow concerns: Despite profitability, the company is burning cash. Review working capital management, CapEx levels, and sustainability of current operations.

Saratoga Investment Corp. Cash Flow Statement

SAR โ€ข NYSE

Saratoga Investment Corp. Cash Flow StatementFeb 2026Feb 2025Feb 2024Feb 2023Feb 2022Feb 2021Feb 2020Feb 2019Feb 2018Feb 2017Feb 2016Feb 2015Feb 2014Feb 2013Feb 2012Feb 2011Feb 2010Feb 2009Feb 2008Feb 2007
OPERATING ACTIVITIES
36.6M
28.1M
8.9M
24.7M
45.7M
14.8M
55.7M
18.5M
17.7M
11.4M
11.6M
11M
8.7M
14.6M
13.3M
17M
-10.5M
-21.3M
-5.5M
-130K
0.0
0.0
0.0
0.0
0.0
1.4M
1.3M
1.2M
990M
829.5M
913.8M
929.8M
903.3M
482.3M
674.7M
397.2M
10.2M
193.5K
502.5K
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-1M
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-125.7M
167.6M
-160M
-148.3M
-259.3M
-68M
-81.4M
-57.6M
-1B
-835.7M
-956.3M
-978.4M
-953.2M
-541.5M
-689.4M
-390M
20M
54M
-157.2M
0.0
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(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
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(0.0)
(0.0)
(0.0)
(0.0)
(140.3K)
(89K)
(0.0)
(0.0)
1.1M
1.8M
-6.2M
-6.8M
10.5M
-10.5M
9.2M
-1.1M
587.2K
1.5M
12.3M
1M
11.6M
7.8M
-21.3M
4.2M
1.5M
3.7M
-5M
130K
-88M
197.5M
-157.2M
-130.4M
-203.1M
-62.3M
-15.1M
-40M
-30.8M
6.7M
-18.6M
-36.6M
-29.5M
-36.8M
-22.7M
28.3M
21.2M
36.5M
-167.1M
0.0
INVESTING ACTIVITIES
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-220.8B
-230B
-378.5B
-107.7B
-154.5B
-109.2B
-104.9B
-121.1B
-71.6B
-38.7B
-9B
(0.0)
-28.3B
-314B
(0.0)
0.0
0.0
0.0
0.0
0.0
142.7B
210.1B
179.9B
66.3B
161.6B
68.2B
73.3B
71.6B
21.5B
33.6B
32B
15.2B
49.2B
141.8B
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-15.2B
0.0
0.0
0.0
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-78.1B
-19.9B
-198.7B
-41.4B
(7B)
-41B
-31.6B
-49.5B
-50.1B
-5.1B
(23B)
(0.0)
(20.9B)
-172.2B
(0.0)
FINANCING ACTIVITIES
19.3M
35.4M
46.9M
-10.8M
24.3M
-3.6M
85.9M
30.8M
7.8M
-3.3M
-356.8K
0.0
0.0
0.0
0.0
15M
0.0
0.0
108.8M
0.0
-54.9M
-26.5M
92M
217.8M
230.8M
67.7M
-74.5M
72.3M
25M
21.7M
28.6M
38.6M
38M
40.3M
15.5M
-34.5M
-22M
-19.5M
77.2M
0.0
-52.4M
-40.7M
-32.1M
-22.7M
-18.2M
-11.3M
-17M
-12M
-9M
-6.8M
-7.9M
-1.4M
-2.5M
-3.3M
-2M
-1.2M
-2.1M
-11.8M
-9.6M
(0.0)
-54.3K
(0.0)
-2.2M
-10.8M
-2.5M
-3.6M
(0.0)
(0.0)
(0.0)
-3.3M
-356.8K
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-6.9M
-1.4M
-5.2M
-10.7M
-10.8M
-3.7K
-1.9M
-2.9M
-1.3M
-3.2M
-1.1M
-2M
-2.8M
-1.4M
-235.4K
-185.1K
-103.6K
0.0
-8.2M
0.0
-94.9M
-33.3M
101.6M
173.6M
226.1M
52.8M
-7.5M
88.3M
22.5M
8.3M
19.2M
35.2M
32.7M
35.6M
13.3M
-20.9M
-24.2M
-31.2M
168.2M
0.0
CASH FLOW SUMMARY
0.0
0.0
0.0
0.0
0.0
78.1B
19.9B
198.7B
41.4B
-7B
41B
31.6B
49.5B
50.1B
5.1B
-23B
0.0
-20.9B
172.2B
0.0
-182.9M
164.2M
-55.6M
43.2M
23M
-9.5M
-22.6M
48.3M
-8.3M
15.1M
552.1K
-1.4M
3.1M
-1.2M
-9.4M
7.4M
-3M
5.3M
1.1M
0.0
204.7M
40.5M
96.1M
52.9M
29.9M
39.5M
62.1M
13.8M
22.1M
7M
1.9M
3.3M
149K
1.3M
10.7M
3.4M
6.4M
1.1M
1K
0.0
21.8M
204.7M
40.5M
96.1M
52.9M
29.9M
39.5M
62.1M
13.8M
22.1M
2.4M
1.9M
3.3M
149K
1.3M
10.7M
3.4M
6.4M
1.1M
0.0
-88M
197.5M
-157.2M
-130.4M
-203.1M
-62.3M
-15.1M
-40M
-30.8M
6.7M
-18.6M
-36.6M
-29.5M
-36.8M
-22.7M
28.3M
21.2M
36.5M
-167.1M
0.0

SEC Filings

SAR - Filing history and reports

No SEC filings available for SAR