Saratoga Investment Corp (SAR)

Name: Saratoga Investment Corp Financial Statements
Creator: Quarter Results

Financial Services | Asset Management

Latest reporting period: 2026-02-28

Latest Quarter

2026-02-28

Revenue

$14.9M

Net Income

-$2.6M

Operating Margin

-5.0%

Free Cash Flow

-$88.0M

Debt / Assets

65.4%

Values are in USD and rounded to the nearest whole number unless noted.

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Income statement quarterly history for Saratoga Investment Corp (SAR).
Income Statement (Quarterly)	2026-02-28	2025-11-30	2025-08-31	2025-05-31
Revenue	14,915,585	27,250,227	27,760,663	29,294,088
Cost of Revenue	12,567,078	11,911,568	12,372,030	12,451,865
Gross Profit	2,348,507	15,338,659	15,388,633	16,842,223
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	2,398,068	3,270,062	2,538,811	2,800,421
Operating Expenses	3,098,921	3,393,219	2,538,811	2,800,421
Operating Income	-750,414	11,945,440	12,849,822	14,041,802
Interest Expense	12,567,078	11,911,568	12,372,030	12,451,865
Income Before Tax	-750,414	11,945,440	12,849,822	14,041,802
Income Tax Expense	1,862,670	-54,544	-435,313	109,539
Net Income	-2,613,084	11,999,984	13,285,135	13,932,263
Per Share
EPS	-0.16	0.74	0.84	0.91
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Saratoga Investment Corp (SAR).
Income Statement (Annual)	2026-02-28	2025-02-28	2024-02-29	2023-02-28	2022-02-28
Revenue	99,220,563	94,163,000	69,545,000	69,852,000	57,582,247
Cost of Revenue	49,302,541	52,059,000	49,180,000	33,498,000	26,602,187
Gross Profit	49,918,022	42,104,000	20,365,000	36,353,000	30,980,060
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	11,007,362	9,338,000	8,555,000	8,008,831	6,630,583
Operating Expenses	11,831,372	10,139,000	8,665,000	9,596,000	9,064,993
Operating Income	38,086,650	31,965,690	11,700,000	26,757,000	68,397,947
Interest Expense	49,302,541	52,059,000	49,179,899	33,498,489	19,880,693
Income Before Tax	38,086,650	31,965,690	11,699,754	26,757,104	48,517,254
Income Tax Expense	1,482,352	3,879,433	2,765,929	2,081,341	2,782,070
Net Income	36,604,298	28,086,257	8,933,825	24,675,763	45,735,184
Per Share
EPS	2.31	2.02	0.71	2.06	3.99
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for Saratoga Investment Corp (SAR).
Balance Sheet (Quarterly)	2026-02-28	2025-02-28	2024-02-29	2023-02-28
Assets
Cash and Cash Equivalents	21,785,753	148,218,491	8,692,846	96,076,273
Short Term Investments	0	0	0	971,617,662,747
Net Receivables	7,563,773	7,791,661	10,642,021	8,523,760
Inventory	0	0	0	8,693,014,824
Total Current Assets	29,349,526	156,010,152	51,248,821	74,342,996,000
Property Plant Equipment	0	0	0	0
Goodwill and Intangibles	0	0	0	0
Total Assets	1,139,265,104	1,191,543,857	1,191,205,835	1,078,158,174
Liabilities
Account Payables	1,771,915	5,585,852	4,919,715	5,117,279
Short Term Debt	70,000,000	0	54,882,329	482,893,029,000
Total Current Liabilities	80,508,077	5,585,852	68,399,261	482,893,029,000
Long Term Debt	659,858,737	781,823,075	803,673,645	711,125,536
Total Liabilities	744,946,336	798,878,389	820,981,727	731,200,132
Shareholders Equity
Retained Earnings	-43,062,947	-20,263,312	-870,745	25,052,345
Total Shareholders Equity	396,155,754	392,665,468	370,224,108	346,958,042

Balance sheet annual history for Saratoga Investment Corp (SAR).
Balance Sheet (Annual)	2026-02-28	2025-02-28	2024-02-29	2023-02-28	2022-02-28
Assets
Cash and Cash Equivalents	21,785,753	148,218,491	8,692,846	96,076,273	52,870,342
Short Term Investments	0	0	0	971,617,662,747	0
Net Receivables	7,563,773	7,791,661	10,642,021	8,523,760	5,547,078
Inventory	0	0	0	8,693,014,824	1
Total Current Assets	29,349,526	156,010,152	51,248,821	74,342,996,000	58,417,420
Property Plant Equipment	0	0	0	0	0
Goodwill and Intangibles	0	0	0	0	0
Total Assets	1,139,265,104	1,191,543,857	1,191,205,835	1,078,158,174	876,239,755
Liabilities
Account Payables	1,771,915	5,585,852	4,919,715	5,117,279	3,600,679
Short Term Debt	70,000,000	0	54,882,329	482,893,029,000	306,914,578,000
Total Current Liabilities	80,508,077	5,585,852	68,399,261	482,893,029,000	3,600,679
Long Term Debt	659,858,737	781,823,075	803,673,645	711,125,536	498,878,480
Total Liabilities	744,946,336	798,878,389	820,981,727	731,200,132	520,459,232
Shareholders Equity
Retained Earnings	-43,062,947	-20,263,312	-870,745	25,052,345	27,706,146
Total Shareholders Equity	396,155,754	392,665,468	370,224,108	346,958,042	355,780,523

Cash flow quarterly history for Saratoga Investment Corp (SAR).
Cash Flow Statement (Quarterly)	2026-02-28	2025-02-28	2024-02-29	2023-02-28
Operating Activities
Net Income	36,604,298	28,086,257	8,933,825	24,675,763
Depreciation & Amortization	0	5,025,786	0	4,418,481,000
Stock Based Compensation	0	0	0	0
Change in Working Capital	1,105,660	1,811,792	-6,154,365	-6,763,303
Operating Cash Flow	-88,029,733	197,538,505	-157,206,679	-130,373,839
Investing Activities
Capital Expenditure	0	0	0	0
Investments	0	0	0	0
Investing Cash Flow	0	0	0	2,245,360,000
Financing Activities
Debt Repayment	-54,941,500	-27,676,808	92,000,000	-119,125,000
Common Stock Issued/Repurchased	19,267,937	32,750,583	46,857,079	-10,824,340
Dividends Paid	-52,356,092	-40,747,247	-32,053,610	-22,665,140
Financing Cash Flow	-94,908,438	-33,321,705	101,637,530	173,579,770
Summary
Free Cash Flow	-88,029,733	197,538,505	-157,206,679	-130,373,839
Net Change in Cash	-182,938,171	164,216,800	-55,569,149	43,205,931

Cash flow annual history for Saratoga Investment Corp (SAR).
Cash Flow Statement (Annual)	2026-02-28	2025-02-28	2024-02-29	2023-02-28	2022-02-28
Operating Activities
Net Income	36,604,298	28,086,257	8,933,825	24,675,763	45,735,184
Depreciation & Amortization	0	5,025,786	0	4,418,481,000	4,418,481,000
Stock Based Compensation	0	0	0	0	673,648
Change in Working Capital	1,105,660	1,811,792	-6,154,365	-6,763,303	10,460,307
Operating Cash Flow	-88,029,733	197,538,505	-157,206,679	-130,373,839	-203,133,627
Investing Activities
Capital Expenditure	0	0	0	0	0
Investments	0	0	0	0	0
Investing Cash Flow	0	0	0	2,245,360,000	-55,076,288,000
Financing Activities
Debt Repayment	-54,941,500	-27,676,808	92,000,000	-119,125,000	-155,500,000
Common Stock Issued/Repurchased	19,267,937	32,750,583	46,857,079	-10,824,340	24,290,166
Dividends Paid	-52,356,092	-40,747,247	-32,053,610	-22,665,140	-18,158,029
Financing Cash Flow	-94,908,438	-33,321,705	101,637,530	173,579,770	226,088,895
Summary
Free Cash Flow	-88,029,733	197,538,505	-157,206,679	-130,373,839	-203,133,627
Net Change in Cash	-182,938,171	164,216,800	-55,569,149	43,205,931	22,955,268