Saratoga Investment (SAR)
NYSE:SAR
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Earnings Data
Report Date
Jul 14, 2026After Close (Confirmed)
Period Ending
2027 (Q1)Consensus EPS Forecast
0.56Last Year’s EPS
0.66Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized resilient core credit quality, strong origination momentum and AUM growth, ample liquidity, and ROE materially above industry averages — offset by margin pressure from lower base rates and tighter spreads, several quarter-specific markdowns (notably CLO/JV depreciation and a CLO F note nonaccrual/write-down), a large decline in cash due to deployment and refinancing, and a one-time excise tax. Management pointed to disciplined underwriting, a growing pipeline and business development success as reasons for optimism while acknowledging near-term yield and CLO-related challenges.Company Guidance
Strong Originations and Net Deployment
Q4 originations of $135.1M (5 new investments of $78.4M + 15 follow-ons of $55.2M) produced net originations of $101.1M as originations outpaced repayments; fiscal year originations totaled $309.5M.
Assets Under Management Growth
AUM rose to $1.109B at fair value with quarter activity described as meaningfully increasing AUM vs prior quarter due to origination activity.
Outperformance on Return on Equity
Latest twelve months ROE of 9.1% (up from 7.5% YoY, down from 9.7% QoQ) materially exceeds the BDC industry average of 4.3%; long-term 12-year average ROE ~10.1% vs industry 6.7%.
Dividend Policy and Attractive Yield
Board declared a monthly base dividend of $0.25 per share ($0.75 aggregate), representing an annualized yield of ~12.6% based on the $23.89 share price (05/04/2026); dividend consistency maintained.
Sufficient Liquidity / Dry Powder
Quarter-end available liquidity ~ $210.8M (including $21.8M cash, $99M available SBIC debentures, and ~$90M in revolving credit availability) — management stated this supports ~19% additional AUM growth without external financing.
Stable Adjusted NII Excluding One-Time Tax
Adjusted NII was $8.5M in Q4 (up 6.2% YoY, down 12.8% QoQ) and adjusted NII per share was $0.53 including a $1.7M excise tax; excluding the excise tax, adjusted NII per share was $0.61 and unchanged sequentially.
Low Nonaccrual Rate and First-Lien Weighted Portfolio
Only two investments on nonaccrual (Pepper Palace restructured and CLO F note), representing 0.2% of fair value and 1.2% of cost — well below the industry average nonaccrual rate of 3.3%; 82.1% of investments are first lien.
Business Development Momentum and Team Expansion
Deal flow increased (108 term sheets over 12 months with 22 from new relationships), five new platform investments in the quarter, management hires including new COO/Senior MD, and continued pipeline ramp-up.
SAR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SAR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | $23.22 | $22.50 | -3.10% |
Jan 07, 2026 | $21.64 | $21.98 | +1.55% |
Oct 07, 2025 | $21.41 | $20.41 | -4.71% |
Jul 08, 2025 | $22.28 | $21.64 | -2.87% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Saratoga Investment (SAR) report earnings?
Saratoga Investment (SAR) is schdueled to report earning on Jul 14, 2026, After Close (Confirmed).
What is Saratoga Investment (SAR) earnings time?
Saratoga Investment (SAR) earnings time is at Jul 14, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SAR EPS forecast?
SAR EPS forecast for the fiscal quarter 2027 (Q1) is 0.56.