Saratoga Investment Corp (SAR)

Name: Saratoga Investment Corp Financial Statements
Creator: Quarter Results

Financial Services | Asset Management

Latest reporting period: 2025-11-30

Latest Quarter

2025-11-30

Revenue

$27.3M

Net Income

$12.0M

Operating Margin

43.8%

Free Cash Flow

$198M

Debt / Assets

67.0%

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)	2025-11-30	2025-08-31	2025-05-31	2025-02-28
Revenue	27,250,227	27,760,663	29,294,088	17,467,000
Cost of Revenue	11,911,568	12,372,030	12,451,865	12,924,000
Gross Profit	15,338,659	15,388,633	16,842,223	4,543,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	1,756,560,000	2,538,811	2,800,421	1,385,000
Operating Expenses	3,393,219	2,538,811	2,800,421	2,186,000
Operating Income	11,945,440	12,849,822	14,041,802	2,357,000
Interest Expense	11,911,568	12,372,030	12,451,865	12,924,000
Income Before Tax	11,945,440	12,849,822	14,041,802	2,357,000
Income Tax Expense	-54,544	-435,313	109,539	3,034,000
Net Income	11,999,984	13,285,135	13,932,263	-677,000
Per Share
EPS	0.74	0.84	0.91	-0.07
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Saratoga Investment Corp (SAR).
Income Statement (Annual)	2025-02-28	2024-02-29	2023-02-28	2022-02-28	2021-02-28
Revenue	94,163,000	69,545,000	69,852,000	57,582,247	26,323,577
Cost of Revenue	52,059,000	49,180,000	33,498,000	26,602,187	0
Gross Profit	42,104,000	20,365,000	36,353,000	30,980,060	0
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	9,338,000	8,555,000	8,008,831	6,630,583	6,255,597
Operating Expenses	10,139,000	8,665,000	9,596,000	9,064,993	6,384,214
Operating Income	31,965,690	11,700,000	26,757,000	68,397,947	0
Interest Expense	52,059,000	49,179,899	33,498,489	19,880,693	13,587,201
Income Before Tax	31,965,690	11,699,754	26,757,104	48,517,254	19,939,363
Income Tax Expense	3,879,433	2,765,929	2,081,341	2,782,070	5,162,327
Net Income	28,086,257	8,933,825	24,675,763	45,735,184	14,777,036
Per Share
EPS	2.02	0.71	2.06	3.99	1.32
EPS Diluted	0.00	0.00	0.00	0.00	0.00

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

Balance sheet annual history for Saratoga Investment Corp (SAR).
Balance Sheet (Annual)	2025-02-28	2024-02-29	2023-02-28	2022-02-28	2021-02-28
Assets
Cash and Cash Equivalents	148,218,491	8,692,846	96,076,273	52,870,342	29,915,074
Short Term Investments	0	0	971,617,662,747	0	0
Net Receivables	7,791,661	10,642,021	8,523,760	5,547,078	6,977,274
Inventory	0	0	8,693,014,824	1	0
Total Current Assets	156,010,152	51,248,821	74,342,996,000	58,417,420	0
Property Plant Equipment	0	0	0	0	0
Goodwill and Intangibles	0	0	0	0	0
Total Assets	1,191,543,857	1,191,205,835	1,078,158,174	876,239,755	592,152,378
Liabilities
Account Payables	5,585,852	4,919,715	5,117,279	3,600,679	4,396,050
Short Term Debt	0	54,882,329	482,893,029,000	306,914,578,000	0
Total Current Liabilities	5,585,852	68,399,261	482,893,029,000	3,600,679	0
Long Term Debt	781,823,075	803,673,645	711,125,536	498,878,480	274,049,983
Total Liabilities	798,878,389	820,981,727	731,200,132	520,459,232	287,966,608
Shareholders Equity
Retained Earnings	-20,263,312	-870,745	25,052,345	27,706,146	-700,348
Total Shareholders Equity	392,665,468	370,224,108	346,958,042	355,780,523	304,185,770

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

Cash flow annual history for Saratoga Investment Corp (SAR).
Cash Flow Statement (Annual)	2025-02-28	2024-02-29	2023-02-28	2022-02-28	2021-02-28
Operating Activities
Net Income	28,086,257	8,933,825	24,675,763	45,735,184	14,777,036
Depreciation & Amortization	5,025,786	0	4,418,481,000	4,418,481,000	0
Stock Based Compensation	0	0	0	673,648	0
Change in Working Capital	1,811,792	-6,154,365	-6,763,303	10,460,307	-10,519,285
Operating Cash Flow	197,538,505	-157,206,679	-130,373,839	-203,133,627	-62,346,410
Investing Activities
Capital Expenditure	0	0	0	0	0
Investments	0	0	0	0	0
Investing Cash Flow	0	0	2,245,360,000	-55,076,288,000	0
Financing Activities
Debt Repayment	-27,676,808	92,000,000	-119,125,000	-155,500,000	-33,000,000
Common Stock Issued/Repurchased	32,750,583	46,857,079	-10,824,340	24,290,166	-3,608,459
Dividends Paid	-40,747,247	-32,053,610	-22,665,140	-18,158,029	-11,265,914
Financing Cash Flow	-33,321,705	101,637,530	173,579,770	226,088,895	52,811,132
Summary
Free Cash Flow	197,538,505	-157,206,679	-130,373,839	-203,133,627	-62,346,410
Net Change in Cash	164,216,800	-55,569,149	43,205,931	22,955,268	-9,535,278