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SARATOGA INVESTMENT CORP. SAJ

NYSE · stock · website · IPO 2010-08-13 · LEI

SARATOGA INVESTMENT CORP. statistics & valuation

Market cap$362.6M
P / E9.9×
P / B0.9×
Dividend yield14.44%
Return on equity9.2%
Net debt$737.7M
Enterprise value USD$1.1B
Graham number +39.3%$35.62

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($35.62); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
20222023202420252026
Operating margin (%)
20222023202420252026
Return on equity (%)
12.90% 7.10% 2.40% 7.20% 9.20% 20222023202420252026
Shares outstanding
12.1M 12.0M 13.7M 15.2M 16.2M 20222023202420252026
Net debt ($)
$662.6M $645.7M $737.7M 20222023202420252026
Share buybacks ($)
20222023202420252026
Return on assets (%)
5.20% 2.30% 0.70% 2.40% 3.20% 20222023202420252026
Free cash flow margin (%)
20222023202420252026
Debt / equity (×)
2.10× 2.02× 1.87× 20222023202420252026
EPS ($)
$3.99 $2.06 $0.71 $2.02 $2.31 20222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

SARATOGA INVESTMENT CORP. trades at about 11.1× earnings — below its 10-year norm (10-year range 11×–35.4×, median 12.6×).

11× 35.4×

Shaded band = 10-year range (11×–35.4×); dot = today's 11.1×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022
Return on assets3.2%2.4%0.7%2.3%5.2%
Return on equity9.2%7.2%2.4%7.1%12.9%
Debt / equity1.87×2.02×—2.10×—

Computed from company filings · US · as of 2026-02-28. Facts plus Stocktoria's own computed scores — not investment advice.