Health score, price, valuation, risk signals, and key metrics at a glance.
Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. The fund structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity. The fund prefers to invest in aerospace, automotive aftermarket and services, business products and services, consumer products and services, education, environmental services, industrial services, financial services, food and beverage, healthcare products and services, logistics, distribution, manufacturing, restaurants services, food services, software services, technology services, specialty chemical, media and telecommunications. The fund seeks to invest in the United States. The fund primarily invests between $60 million and $75 million in companies having EBITDA of $2 million or greater and revenues between $10 million and $150 million. It targets annual revenues between $8 and $250 million. The fund prefers to take a majority stake. The fund invests through direct lending as well as participation in loan syndicates.
Strongest: Cash & Earnings Quality (11/25); weakest: Growth (0/25).
Today's multiple positioned against its own trailing range — a visual premium/discount check.
Currently above its 13-quarter median.
Currently near its 13-quarter median.
Data-driven signals worth keeping an eye on across the last 8 quarters
Operating margins declined 17.7% — watch for continued compression, which may signal competitive or cost pressure.
Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.
as of May 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
Currently near its 16-quarter median.
D/E ratio of 2.2 is elevated. Watch for further debt accumulation.
TTM revenue has contracted 15.9% — significant decline indicating deteriorating demand.
The last 4 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding increased 18.4% — significant dilution, likely from stock compensation or capital raises.
