Saratoga Investment (SAR) Financial Statements & Analysis

Saratoga Investment (SAR) Income Statement

Saratoga Investment reported revenue of $49.92M in fiscal 2026 (fiscal year ended Feb 28, 2026), down 47.0% from $94.16M a year earlier. Net income was $36.60M, up 30.3% year over year, a net margin of 73.3%. Gross margin was 100.0% and operating margin 76.3%. In the most recent quarter, Q2 fiscal 2027 (ended Aug 31, 2026), revenue was $31.17M, up 1.8% from the same quarter a year earlier.

Saratoga Investment Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Saratoga Investment Corp. income statement - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Feb 2026	Feb 2025	Feb 2024	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019	Feb 2018	Feb 2017
Revenue & Gross Profit
Revenue	49.92	94.16	69.55	36.35	77.46	36.46	78.29	37.91	33.38	27.04
Cost of Revenue	49.30	52.06	49.18	33.50	19.88	13.59	14.68	13.13	10.94	9.89
Gross Profit	49.92	42.10	20.37	36.35	57.58	57.65	63.61	24.79	22.44	17.15
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	11.01	9.34	8.56	8.01	6.63	15.06	5.68	5.54	4.78	4.26
Operating Expenses	11.83	10.14	8.67	9.60	9.07	20.26	7.26	5.54	4.78	5.72
Operating Income	38.09	31.97	11.70	26.76	48.52	37.39	56.35	19.25	17.66	11.43
Other Income/Expense
Interest Income	114.78	137.55	130.30	86.59	58.51	51.73	48.58	43.36	35.14	29.38
Interest Expense	49.30	52.06	49.18	33.50	19.88	-13.59	14.68	13.13	10.94	9.89
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	38.09	31.97	11.70	26.76	48.52	16.20	56.35	19.25	17.66	11.43
Income Tax Expense	1.48	3.88	2.77	2.08	2.78	5.16	0.61	0.74	-0.01	0.04
Net Income	36.60	28.09	8.93	24.68	45.74	14.78	55.74	18.51	17.68	11.39
Net Income - Continuous Operations	36.60	28.09	8.93	24.68	45.74	14.78	55.74	18.51	17.68	11.39
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-
EBITDA	38.09	31.97	11.70	26.76	48.52	1.37	56.35	19.25	17.66	11.43
EBIT	87.71	107.88	107.93	69.61	40.41	37.39	-	-	-	-
Depreciation & Amortization	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Per Share
Basic EPS	2.00	2.00	1.00	2.00	4.00	1.00	6.00	3.00	3.00	2.00
Diluted EPS	2.00	2.00	1.00	2.00	4.00	1.00	6.00	3.00	3.00	2.00
Basic Shares Outstanding	15.85	13.91	12.67	11.96	11.46	11.19	9.32	7.05	6.02	5.74
Diluted Shares Outstanding	15.85	13.91	12.67	11.96	11.46	11.19	9.32	7.05	6.02	5.74

Source: Company financial statements from annual and quarterly filings. Data as of Aug 31, 2026. Data sources and methodology

Frequently Asked Questions About Saratoga Investment Financial Statements

What was Saratoga Investment's revenue in fiscal 2026?

Saratoga Investment reported revenue of $49.92M in fiscal 2026 (fiscal year ended Feb 28, 2026). That was down 47.0% from $94.16M a year earlier.

Is Saratoga Investment profitable?

Yes. Saratoga Investment earned net income of $36.60M in fiscal 2026, a net margin of 73.3%. In fiscal 2025 it earned $28.09M.

What is Saratoga Investment's operating margin?

Saratoga Investment's operating income was $38.09M on revenue of $49.92M in fiscal 2026, an operating margin of 76.3%, compared with 33.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition