SAJ Saratoga Investment Corp 8.00% Notes due 2027
NYSE · Financial Services · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q May 5, 2026
$25.22
· of 52w range
· above low
· to high
$24.9552w low
$27.9252w high
Market Cap (MRQ)
$409M
P/E
10.9
EPS
$2.31
your badges
52W Range
$25–$28
Analyst Rating
HOLD
Price Target
·
P/E
10.9
ROE
9.3%
Net Profit Margin
·
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SAJ Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$25.22
Market Cap (MRQ)
$409M
P/E
10.9
EPS
$2.31
Div Yield
12.8%
ROE
9.3%
52W Range
$25–$28
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10-Year Performance Revenue, net income, margins and EPS trends
EPS$2.312024-02-29 → 2026-02-28
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | SAJ | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 10.9 | · | · | · | |
| P/B (MRQ) | 1.0 | · | · | · | |
| Price / Cash Flow | -4.6 | · | · | · | |
| Price / Tangible Book | 1.0 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | SAJ | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | 3.1% | · | · | · | |
| ROE | 9.3% | · | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | SAJ | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| EPS YoY | 14.4% | · | · | · | |
| Net Income YoY | 30.3% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield12.8%
Payout Ratio143.0%
Annualized Payout≈$2.00
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 14, 2026 | $0.50 | USD | ≈7.9% |
| May 15, 2026 | $0.50 | USD | ≈7.9% |
| Feb 13, 2026 | $0.50 | USD | ≈7.9% |
| Nov 14, 2025 | $0.50 | USD | ≈7.9% |
| Aug 15, 2025 | $0.50 | USD | ≈7.9% |
| May 15, 2025 | $0.50 | USD | ≈7.9% |
| Feb 14, 2025 | $0.50 | USD | ≈7.9% |
| Nov 15, 2024 | $0.50 | USD | ≈8.0% |
| Aug 15, 2024 | $0.50 | USD | ≈8.0% |
| May 14, 2024 | $0.50 | USD | ≈8.0% |
| Feb 14, 2024 | $0.50 | USD | ≈8.0% |
| Nov 14, 2023 | $0.50 | USD | ≈8.9% |
| Aug 14, 2023 | $0.50 | USD | ≈6.8% |
| May 12, 2023 | $0.50 | USD | ≈4.8% |
| Feb 14, 2023 | $0.69 | USD | ≈2.7% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-61.6%
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $-0.42 | $0.56 | -175.5% | |
| March 31, 2026 | $-0.16 | $0.56 | -128.6% | |
| Dec. 31, 2025 | $0.74 | $0.60 | 22.7% | |
| Sept. 30, 2025 | $0.84 | $0.69 | 21.6% | |
| June 30, 2025 | $0.91 | $0.94 | -2.8% | |
| March 31, 2025 | $-0.05 | $0.70 | -107.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2026 |
|---|---|---|
| SG&A Expense | $2M | |
| Operating Expenses | $89M | |
| Interest Income | $107M | |
| Income Tax | $-138.2K | |
| Net Income | $37M | |
| EPS (Basic) | $2.31 | |
| EPS (Diluted) | $2.31 | |
| Shares (Basic) | 15,850,270 | |
| Shares (Diluted) | 15,850,270 |
Balance Sheet
| Metric | Trend | 2026 |
|---|---|---|
| Cash & Equivalents | $2M | |
| Other Non-current Assets | $781.8K | |
| Total Assets | $1.14B | |
| Total Liabilities | $743M | |
| Long-term Debt | $739M | |
| Common Stock | $16.2K | |
| Retained Earnings | $-43M | |
| Stockholders' Equity | $396M | |
| Liabilities + Equity | $1.14B | |
| Shares Outstanding | 16,224,198 |
Cash Flow
| Metric | Trend | 2026 |
|---|---|---|
| Deferred Tax | $-310.5K | |
| Operating Cash Flow | $-88M | |
| Stock Issued | $19M | |
| Stock Repurchased | $54.3K | |
| Net Stock Activity | $19M | |
| Dividends Paid | $52M | |
| Financing Cash Flow | $-95M | |
| Taxes Paid | $2M |
Profitability
| Metric | Trend | 2026 |
|---|---|---|
| ROA | 3.1% | |
| ROE | 9.3% |
Per Share
| Metric | Trend | 2026 |
|---|---|---|
| Book Value / Share | $24.42 | |
| Cash Flow / Share | $-5.55 | |
| Cash / Share | $0.10 | |
| EPS (TTM) | $2.31 |
Growth Rates
| Metric | Trend | 2026 |
|---|---|---|
| EPS YoY | 14.4% | |
| Net Income YoY | 30.3% |
Valuation (TTM)
| Metric | Trend | 2026 |
|---|---|---|
| Net Income TTM | $37M | |
| Market Cap | $409M | |
| P/E | 10.9 | |
| P/B | 1.0 | |
| P / Tangible Book | 1.0 | |
| P / Cash Flow | -4.7 | |
| Dividend Yield | 12.8% | |
| Earnings Yield | 9.2% | |
| Payout Ratio | 143.0% | |
| Annual Payout | $52M |
Income Statement
| Metric | Trend | Q4 2026 | Q4 2025 |
|---|---|---|---|
| SG&A Expense | $279.3K | $-289.0K | |
| Operating Expenses | $23M | $23M | |
| Interest Income | $26M | $27M | |
| Income Tax | $23.4K | $313.8K | |
| Net Income | $-3M | $-676.8K | |
| EPS (Basic) | $-0.18 | $-0.07 | |
| EPS (Diluted) | $-0.18 | $-0.07 |
Balance Sheet
| Metric | Trend | Q4 2026 | Q4 2025 |
|---|---|---|---|
| Cash & Equivalents | $2M | $148M | |
| Other Non-current Assets | $781.8K | $950.5K | |
| Total Assets | $1.14B | $1.19B | |
| Total Liabilities | $743M | $799M | |
| Long-term Debt | $739M | · | |
| Common Stock | $16.2K | $15.2K | |
| Retained Earnings | $-43M | $-20M | |
| Stockholders' Equity | $396M | $393M | |
| Liabilities + Equity | $1.14B | $1.19B | |
| Shares Outstanding | 16,224,198 | 15,183,078 |
Cash Flow
| Metric | Trend | Q4 2026 | Q4 2025 |
|---|---|---|---|
| Deferred Tax | $43.2K | $307.9K | |
| Operating Cash Flow | $-92M | $-20M | |
| Stock Issued | $0 | $30M | |
| Dividends Paid | $14M | $14M | |
| Financing Cash Flow | $-55M | $-26M | |
| Taxes Paid | $2M | $3M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2026-02-28 | 2025-02-28 | 2024-02-29 |
|---|---|---|---|
| Net Income | $37M | $28M | $9M |
| Diluted EPS | $2.31 | $2.02 | $0.71 |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| ELIZABETH OBERBECK ×3 filings | Jan. 16, 2020 | · | Initial filing | · | SEC |
| CHRISTIAN L. OBERBECK, SARATOGA INVESTMENTS ADVISORS, LLC (, CLO PARTNERS LLC ( ×4 filings | Nov. 10, 2014 | · | Initial filing | · | SEC |
| THOMAS V. INGLESBY | Jan. 6, 2014 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 1 insider · 1 officers · 1 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Christian L Oberbeck | CEO and Director | Sept. 9, 2026 J | 18,477 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
SAJ Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 12 analysts
HOLD
1 8.3%
Strong Buy
3 25.0%
Buy
8 66.7%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| SAJ | $409M | 10.9 | · | · | 9.3% | · |
| TCPC | $463M | -5.2 | · | · | -13.3% | · |
| CCAP | $519M | 7.8 | · | · | 4.8% | · |
| HRZN | · | -107.5 | · | · | · | · |
| PSBD | $381M | 7.3 | · | · | -0.65% | · |
| RWAY | · | · | · | · | · | · |
| SAR | · | · | · | · | · | · |
| LIEN | $236M | 7.1 | · | · | 11.0% | · |
| PNNT | · | · | · | · | · | · |
| SPMC | · | · | · | · | · | · |
| SCM | $367M | 13.3 | · | · | 7.3% | · |
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Source: SEC 10-K filed May 5, 2026