SARATOGA INVESTMENT CORP.

Listed Company

SAYCIK 0001377936NYSEAcceleratedMarylandFY ends Feb 28

Period

FY 2026

Revenue

—

Net Income

$36.60M

Total Assets

$1.14B

Equity

$396.16M

Shares Out

16.27M

Op. Cash Flow

$-88.03M

SAR$19.66−22.78% · past yearDBEQ Basic

Daily closing prices

Business

Saratoga Investment Corp. is a specialty finance company providing customized financing solutions to U.S. middle-market businesses. The company primarily invests in senior and unitranche leveraged loans, mezzanine debt, and equity of private middle-market companies through direct lending and loan syndicate participation. Saratoga operates as an externally managed, closed-end business development company regulated under the 1940 Act and as a regulated investment company for tax purposes, with operations managed by Saratoga Investment Advisors.

Summary from 10-K filed 2026-05-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-02-28	FY 2025 2025-02-28	FY 2024 2024-02-29	FY 2023 2023-02-28	FY 2022 2022-02-28
Total interest from investments	107	131	128	85	—
Interest from cash and cash equivalents	8	7	3	1	—
Management fee income	3	3	3	3	3
Total dividend from investments	5	5	7	3	—
Structuring and advisory fee income	2	2	2	4	4
Other income	2	2	1	3	3
Total investment income	126	149	144	99	71
Interest and debt financing expenses	49	52	49	33	20
Base management fees	18	18	19	16	12
Incentive management fees expense (benefit)	9	13	8	5	12
Professional fees	3	2	2	2	1
Administrator expenses	5	5	4	3	3
Insurance	300,480	303,859	322,323	347,483	348,671
Directors fees and expenses	400,000	400,000	400,000	400,000	300,000
General and administrative	2	2	2	2	2
Income tax expense (benefit)	−138,168	412,032	42,926	−152,956	−39,649
Excise tax expense (benefit)	2	2	2	1	—
Total operating expenses	89	96	87	64	51
NET INVESTMENT INCOME	37	53	57	35	20
Net realized gain (loss) from investments	6	−42	153,583	7	—
Net change in unrealized appreciation (depreciation) on investments	−5	19	−47	−15	—
Net change in provision for deferred taxes on unrealized (appreciation) depreciation on investments	113,498	−1	−893,166	−2	—
Net realized and unrealized gain (loss) on investments	621,508	−24	−48	−9	—
Realized losses on extinguishment of debt	−824,010	−800,452	−110,056	−2	−2
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	37	28	9	25	46
WEIGHTED AVERAGE - BASIC EARNINGS (LOSS) PER COMMON SHARE (in Dollars per share)	2.31	2.02	0.71	2.06	3.99
WEIGHTED AVERAGE - DILUTED EARNINGS (LOSS) PER COMMON SHARE (in Dollars per share)	2.31	2.02	0.71	2.06	3.99
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC (in Shares)	16	14	13	12	11
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in Shares)	16	14	13	12	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2026 2026-02-28	FY 2025 2025-02-28	FY 2024 2024-11-30	FY 2024 2024-08-31	FY 2024 2024-05-31
Investments at fair value	1,109	978	—	—	—
Cash and cash equivalents	2	148	—	—	—
Cash and cash equivalents, reserve accounts	20	57	—	—	—
Interest receivable (net of reserve of $470,751 and $210,319, respectively)	7	7	—	—	—
Management fee receivable	249,720	314,193	—	—	—
Other assets	781,766	950,522	—	—	—
Total assets	1,139	1,192	—	—	—
Revolving credit facilities	70	53	—	—	—
Base management and incentive fees payable	7	6	—	—	—
Deferred tax liability	5	5	—	—	—
Accounts payable and accrued expenses	2	2	—	—	—
Interest and debt fees payable	4	4	—	—	—
Directors fees payable	5,500	—	—	—	—
Due to Manager	590,624	349,189	—	—	—
Total liabilities	743	799	—	—	—
Commitments and contingencies (See Note 9)	—	—	—	—	—
Common stock, par value $0.001, 100,000,000 common shares authorized, 16,224,198 and 15,183,078 common shares issued and outstanding, respectively	16,224	15,183	—	—	—
Capital in excess of par value	439	413	—	—	—
Total distributable deficit	−43	−20	—	—	—
Total net assets	396	393	375	372	368
Total liabilities and net assets	1,139	1,192	—	—	—
NET ASSET VALUE PER SHARE (in Dollars per share)	24.42	25.86	—	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2026 2026-02-28	FY 2025 2025-02-28	FY 2024 2024-02-29	FY 2023 2023-02-28	FY 2022 2022-02-28
Distributions from CLO, payment-in-kind and other adjustments to cost	−3	−4	5	2	—
Net accretion of discount on investments	−3	−3	−2	−2	−2
Amortization of deferred debt financing costs	5	5	5	4	2
Income tax expense (benefit)	−196,309	37,243	42,926	—	—
Proceeds from sales and repayments of investments	185	312	30	222	—
Purchases of investments	−310	−168	−246	−385	—
Interest receivable	163,415	3	−2	−3	−869,931
Management fee receivable	64,473	28,830	20,786	−1,260	−327,905
Other assets	168,756	212,703	−631,887	−276,357	692,335
Current income tax receivable	—	99,676	336,875	−436,551	—
Base management and incentive fees payable	371,875	−2	−4	−832,147	—
Accounts payable and accrued expenses	95,580	338,793	−126,801	665,285	−951,208
Interest and debt fees payable	−5,374	327,344	−70,763	851,315	155,837
Directors fees payable	5,500	—	−14,932	−55,068	−500
Due to Manager	241,435	−100,811	439,065	−252,879	—
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	−88	198	−157	−130	−203
Borrowings on debt	87	30	72	113	135
Paydowns on debt	−80	−57	−57	−76	−96
Issuance of notes	150	—	78	224	250
Repayments of notes	−212	—	—	−43	—
Payments of deferred debt financing costs	−7	−1	−5	−10	−10
Proceeds from issuance of common stock	19	33	45	—	27
Capital contribution from Manager	569,322	2	4	—	—
Payments of cash dividends	−52	−41	−32	−23	−18
Repurchases of common stock	−54,314	—	−2	−11	—
Repurchases fees	—	—	−1,772	−8,764	−1,992
Payments of offering costs	−25,857	−251,445	−469,456	—	−270,576
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	−95	−33	102	174	226
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND CASH AND CASH EQUIVALENTS, RESERVE ACCOUNTS	−183	164	−56	43	23
Interest paid during the year	45	47	44	29	18
Cash paid for taxes	2	3	3	3	1
Payment-in-kind interest income and other adjustments to cost	3	3	−5	—	—
Discount on debt issuance, 7.25% notes 2030	441,500	—	—	—	—
Stock dividend distribution	7	5	4	5	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Frequently asked questions

What is SARATOGA INVESTMENT CORP.'s CIK number?

SARATOGA INVESTMENT CORP.'s SEC CIK number is 0001377936 (1377936). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find SARATOGA INVESTMENT CORP.'s SEC filings?

All of SARATOGA INVESTMENT CORP.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did SARATOGA INVESTMENT CORP. last report earnings?

SARATOGA INVESTMENT CORP. (SAY) most recently filed an earnings 8-K with the SEC on Jul 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001213900-26-075941). This is SARATOGA INVESTMENT CORP.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is SARATOGA INVESTMENT CORP.'s most recent earnings 8-K?

SARATOGA INVESTMENT CORP.'s latest earnings 8-K (Item 2.02) was filed Jul 7, 2026 under accession 0001213900-26-075941. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View SARATOGA INVESTMENT CORP.'s latest earnings 8-K →
Look up any company's CIK number →