• Income Statement
• Balance Sheet
• Cash Flow
• Ratios
• Market Data
• Valuation

	SARATOGA INVESTMENT CORP. (SAR)
	Q1-CY2026	Q4-CY2025	Q3-CY2025	Q2-CY2025	Q1-CY2025	Q4-CY2024	Q3-CY2024	Q2-CY2024	Q1-CY2024	Q4-CY2023	Q3-CY2023	Q2-CY2023	Q1-CY2023	Q4-CY2022	Q3-CY2022	Q2-CY2022	Q1-CY2022	Q4-CY2021	Q3-CY2021	Q2-CY2021	Q1-CY2021	Q4-CY2020	Q3-CY2020	Q2-CY2020	Q1-CY2020	Q4-CY2019	Q3-CY2019	Q2-CY2019	Q1-CY2019	Q4-CY2018	Q3-CY2018	Q2-CY2018	Q1-CY2018	Q4-CY2017	Q3-CY2017	Q2-CY2017	Q1-CY2017	Q4-CY2016	Q3-CY2016	Q2-CY2016	Q1-CY2016	Q4-CY2015	Q3-CY2015	Q2-CY2015	Q1-CY2015	Q4-CY2014	Q3-CY2014	Q2-CY2014	Q1-CY2014
Balance Sheet Date		2025-Nov-30	2025-Aug-31	2025-May-31	2025-Feb-28	2024-Nov-30	2024-Aug-31	2024-May-31	2024-Feb-29
Fiscal Period		Q3-FY2026	Q2-FY2026	Q1-FY2026	Q4-FY2025	Q3-FY2025	Q2-FY2025	Q1-FY2025	Q4-FY2024
Close Price of Common Stock	23.11$	23.08$	24.39$	24.78$	25.21$	23.91$	23.18$	22.69$	23.16$	25.89$	25.57$	26.99$	25.02$
Market Cap of Common Stock	374,013,580$	371,598,600$	382,145,715$	380,664,506$	361,600,331$	329,976,363$	318,626,925$	310,829,539$
QoQ%	.65%	(2.76%)	.39%	5.27%	9.58%	3.56%	2.51%
YoY%	3.43%	12.61%	19.94%	22.47%
Common Shares Outstanding	16,184,058	16,145,398	16,027,312	15,529,391	15,183,078	13,909,206	13,745,769	13,698,966	13,653,476	13,114,977	12,729,781	11,847,742	11,890,500
QoQ%	.24%	.74%	3.21%	2.28%	9.16%	1.19%	.34%	.33%	4.11%	3.03%	7.45%	(.36%)
YoY%	6.59%	16.08%	16.60%	13.36%	11.20%	6.06%	7.98%	15.63%	14.83%
Price to Sales	7.44x	7.40x	6.92x	12.33x	32.95x	38.57x	65.00x	9.11x
Price to Earnings	9.70x	9.64x	10.80x	10.75x	12.87x	9.69x	15.04x	19.73x
Price to Book	.91x	.90x	.93x	.96x	.92x	.88x	.86x	.84x
Total Revenue		12,856,933$	9,133,424$	13,043,371$	15,204,200$	17,880,400$	(15,251,329$)	(6,859,992$)	12,786,838$	14,226,628$	13,964,784$	16,049,641$	80,683$
QoQ%		40.77%	(29.98%)	(14.21%)	(14.97%)	217.24%	(122.32%)	(153.65%)	(10.12%)	1.88%	(12.99%)	19,792.22%
YoY%		(28.10%)	159.89%	290.14%	18.91%	25.68%	(209.21%)	(142.74%)	15,748.24%
TTM		50,237,928$	55,261,395$	30,876,642$	10,973,279$	8,555,917$	4,902,145$	34,118,258$	57,027,891$	44,321,736$
TTM_QoQ%		(9.09%)	78.98%	181.38%	28.25%	74.53%	(85.63%)	(40.17%)	28.67%
TTM_YoY%		487.17%	1,027.29%	(9.50%)	(80.76%)	(80.70%)
Gross Margin		100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
QoQ		.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%
YoY		.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%
Operating Income
QoQ%
YoY%
TTM
TTM_QoQ%
TTM_YoY%
Operating Margin
QoQ
YoY
Net Income		11,999,984$	13,285,135$	13,932,263$	(676,762$)	8,834,942$	13,317,639$	6,610,438$	5,306,752$	(4,055,619$)	7,895,951$	(213,259$)
QoQ%		(9.67%)	(4.65%)	2,158.67%	(107.66%)	(33.66%)	101.46%	24.57%	230.85%	(151.36%)	3,802.52%
YoY%		35.82%	(.24%)	110.76%	(112.75%)	317.84%	68.66%	3,199.72%
TTM		38,540,620$	35,375,578$	35,408,082$	28,086,257$	34,069,771$	21,179,210$	15,757,522$	8,933,825$
TTM_QoQ%		8.95%	(.09%)	26.07%	(17.56%)	60.86%	34.41%	76.38%
TTM_YoY%		13.12%	67.03%	124.71%	214.38%
Profit Margin		93.34%	145.46%	106.82%	(4.45%)	49.41%	(87.32%)	(96.36%)	41.50%	(28.51%)	56.54%	(1.33%)
QoQ		(52.12%)	38.64%	111.27%	(53.86%)	136.73%	9.04%	(137.86%)	70.01%	(85.05%)	57.87%
YoY		43.92%	232.78%	203.18%	(45.95%)	77.92%	(143.86%)	(95.03%)
Equity to Common Shareholders		413,206,912$	410,499,568$	396,369,315$	392,665,468$	374,865,655$	372,053,842$	367,855,082$	370,224,108$	359,558,749$	362,078,755$	337,450,848$	346,958,042$
QoQ		2,707,344$	14,130,253$	3,703,847$	17,799,813$	2,811,813$	4,198,760$	(2,369,026$)	10,665,359$	(2,520,006$)	24,627,907$	(9,507,194$)
QoQ%		.66%	3.57%	.94%	4.75%	.76%	1.14%	(.64%)	2.97%	(.70%)	7.30%	(2.74%)
YoY		38,341,257$	38,445,726$	28,514,233$	22,441,360$	15,306,906$	9,975,087$	30,404,234$	23,266,066$
YoY%		10.23%	10.33%	7.75%	6.06%	4.26%	2.76%	9.01%	6.71%
Dividends Paid		10,796,881$	10,507,525$	16,667,926$	13,691,272$	8,957,632$	9,118,879$	8,979,464$	8,888,383$	8,427,647$	7,603,022$	7,134,558$
Additional Paid-In Capital QoQ
Treasury Stock
QoQ
Goodwill
QoQ%
YoY%
Other Intangible Assets
QoQ
Amortization of Intangible Assets
Total Assets		1,196,961,951$	1,206,211,434$	1,202,269,333$	1,191,543,857$	1,219,919,880$	1,214,703,661$	1,201,780,646$	1,191,205,835$				1,078,158,174$
QoQ		(9,249,483$)	3,942,101$	10,725,476$	(28,376,023$)	5,216,219$	12,923,015$	10,574,811$
YoY		(22,957,929$)	(8,492,227$)	488,687$	338,022$				113,047,661$
Total Liabilities		783,755,039$	795,711,866$	805,900,018$	798,878,389$	845,054,225$	842,649,819$	833,925,564$	820,981,727$				731,200,132$
QoQ		(11,956,827$)	(10,188,152$)	7,021,629$	(46,175,836$)	2,404,406$	8,724,255$	12,943,837$
YoY		(61,299,186$)	(46,937,953$)	(28,025,546$)	(22,103,338$)				89,781,595$
Current Ratio
Total Current Assets
QoQ
Total Current Liabilities				805,900,018$	798,878,389$
QoQ				7,021,629$
Debt to Asset Ratio		.65x	.66x	.67x	.67x	.69x	.69x	.69x	.69x				.68x
Long Term Debt		774,375,000$	786,375,000$	791,375,000$	793,875,000$	837,875,000$	837,875$	830,875$	820,375$
QoQ		(12,000,000$)	(5,000,000$)	(2,500,000$)	(44,000,000$)	837,037,125$	7,000$	10,500$
YoY		(63,500,000$)	785,537,125$	790,544,125$	793,054,625$
Capital Lease Obligations
Cash and Cash Equivalents		52,298,401$	105,660,178$	131,562,513$	148,218,491$	147,614,810$	84,569,590$	32,228,082$	8,692,846$				65,746,494$
QoQ		(53,361,777$)	(25,902,335$)	(16,655,978$)	603,681$	63,045,220$	52,341,508$	23,535,236$
YoY		(95,316,409$)	21,090,588$	99,334,431$	139,525,645$				(57,053,648$)
Interest Expenses			900,000$	800,000$			500,000$	300,000$			0$	100,000$
Interest Income		26,721,979$	26,377,435$	28,003,926$	26,589,639$	30,760,674$	39,365,152$	34,306,476$	33,235,279$	32,658,755$

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