Saratoga Invtmt Financials
Saratoga Invtmt (SAJ) reported $2.2M in revenue for fiscal year 2026, up 42.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Positive reported earnings coexist with volatile cash generation, heavy leverage, and distributions that can outpace internally generated funds.
The sharpest earnings-quality signal is the break between FY2025 and FY2026: operating cash flow swung from$197.5M positive to-$88.0M while net income stayed positive. That mismatch means reported earnings did not translate into cash in the latest year; with financing cash flow of-$94.9M , cash fell to$1.7M , leaving liquidity dependent on future cash generation or new financing.
The balance sheet is asset-heavy and debt-funded: FY2026 total assets were
FY2026 dividends were
Financial Health Signals
Saratoga Invtmt does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Saratoga Invtmt passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Saratoga Invtmt used $2.40 of operating cash (-$88.0M OCF vs $36.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Saratoga Invtmt generated $2.2M in revenue in fiscal year 2026. This represents an increase of 42.1% from the prior year.
Saratoga Invtmt reported $36.6M in net income in fiscal year 2026. This represents an increase of 30.3% from the prior year.
Saratoga Invtmt earned $2.31 per diluted share (EPS) in fiscal year 2026. This represents an increase of 14.4% from the prior year.
Not reported for fiscal year 2026.
Cash & Balance Sheet
Saratoga Invtmt held $1.7M in cash against $739.4M in long-term debt as of fiscal year 2026.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Margins & Returns
Saratoga Invtmt's ROE was 9.2% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 2.1 percentage points from the prior year.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Not shown for fiscal year 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Saratoga Invtmt spent $54K on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
SAJ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|---|
| Revenue | $2.6M | $2.2M+42.1% | $1.6M-26.4% | $2.1M-40.0% | $3.6M-16.8% | $4.3M+99.7% | $2.2M |
| SG&A Expenses | $2.2M | $2.2M+17.1% | $1.9M-15.2% | $2.2M-3.7% | $2.3M+40.1% | $1.7M+16.4% | $1.4M |
| Interest Expense | $62.2M | $49.3M-5.3% | $52.1M+5.9% | $49.2M+46.8% | $33.5M+68.5% | $19.9M+46.3% | $13.6M |
| Income Tax | -$209K | -$138K-133.5% | $412K+859.9% | $43K+128.1% | -$153K-285.8% | -$40K-6044.4% | $667 |
| Net Income | $15.8M | $36.6M+30.3% | $28.1M+214.4% | $8.9M-63.8% | $24.7M-46.0% | $45.7M+209.5% | $14.8M |
| EPS (Diluted) | — | $2.31+14.4% | $2.02+184.5% | $0.71-65.5% | $2.06-48.4% | $3.99+202.3% | $1.32 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
SAJ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Total Assets | $1.1B-4.4% | $1.2B0.0% | $1.2B+10.5% | $1.1B+23.0% | $876.2M | N/A |
| Cash & Equivalents | $1.7M-98.9% | $148.2M+1605.1% | $8.7M-86.8% | $65.7M+39.1% | $47.3M+58.0% | $29.9M |
| Total Liabilities | $743.1M-7.0% | $798.9M-2.7% | $821.0M+12.3% | $731.2M+40.5% | $520.5M | N/A |
| Current Liabilities | N/A | $798.9M | N/A | N/A | N/A | N/A |
| Long-Term Debt | $739.4M-6.9% | $793.9M | N/A | $728.4M | N/A | N/A |
| Total Equity | $396.2M+0.9% | $392.7M+6.1% | $370.2M+6.7% | $347.0M-2.5% | $355.8M+17.0% | $304.2M |
| Retained Earnings | -$43.1M-112.5% | -$20.3M-2227.1% | -$871K-103.5% | $25.1M-9.6% | $27.7M | N/A |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill.
SAJ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$146.3M | -$88.0M-144.6% | $197.5M+225.7% | -$157.2M-20.6% | -$130.4M+35.8% | -$203.1M-225.8% | -$62.3M |
| Financing Cash Flow | -$17.2M | -$94.9M-184.8% | -$33.3M-132.8% | $101.6M-41.4% | $173.6M-23.2% | $226.1M+328.1% | $52.8M |
| Dividends Paid | $46.5M | $52.4M+28.5% | $40.7M+27.1% | $32.1M+41.4% | $22.7M+24.8% | $18.2M+61.2% | $11.3M |
| Share Buybacks | N/A | $54K | N/A | $2.2M-80.1% | $10.8M+325.3% | $2.5M-29.5% | $3.6M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow.
TTM is the trailing twelve months, Q2 FY2026 through Q1 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
SAJ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|---|
| Net Margin | 1627.8% | 1774.4% | 415.6% | 688.3% | 1061.7% | 684.9% |
| Return on Equity | 9.2%+2.1pp | 7.1%+4.7pp | 2.4%-4.7pp | 7.1%-5.7pp | 12.8%+8.0pp | 4.9% |
| Return on Assets | 3.2%+0.8pp | 2.4%+1.6pp | 0.8%-1.5pp | 2.3%-2.9pp | 5.2% | N/A |
| Debt-to-Equity | 1.87-0.2x | 2.02-0.2x | 2.22+0.1x | 2.10+0.6x | 1.46 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Where Saratoga Invtmt Ranks
Frequently Asked Questions
What is Saratoga Invtmt's annual revenue?
Saratoga Invtmt (SAJ) reported $2.2M in total revenue for fiscal year 2026. This represents a 42.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Saratoga Invtmt's revenue growing?
Saratoga Invtmt (SAJ) revenue grew by 42.1% year-over-year, from $1.6M to $2.2M in fiscal year 2026.
Is Saratoga Invtmt profitable?
Yes, Saratoga Invtmt (SAJ) reported a net income of $36.6M in fiscal year 2026.
How much debt does Saratoga Invtmt have?
As of fiscal year 2026, Saratoga Invtmt (SAJ) had $1.7M in cash and equivalents against $739.4M in long-term debt.
What is Saratoga Invtmt's return on equity (ROE)?
Saratoga Invtmt (SAJ) has a return on equity of 9.2% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Saratoga Invtmt's operating cash flow?
Saratoga Invtmt (SAJ) recorded an outflow of $88.0M in operating cash flow during fiscal year 2026, representing cash used by core business activities.
What are Saratoga Invtmt's total assets?
Saratoga Invtmt (SAJ) had $1.1B in total assets as of fiscal year 2026, including both current and long-term assets.
What is Saratoga Invtmt's debt-to-equity ratio?
Saratoga Invtmt (SAJ) had a debt-to-equity ratio of 1.87 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Saratoga Invtmt's return on assets (ROA)?
Saratoga Invtmt (SAJ) had a return on assets of 3.2% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Saratoga Invtmt's cash runway?
Based on fiscal year 2026 data, Saratoga Invtmt (SAJ) had $1.7M in cash against an annual operating cash burn of $88.0M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Saratoga Invtmt's Piotroski F-Score?
Saratoga Invtmt (SAJ) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Saratoga Invtmt's earnings high quality?
For every $1 of reported earnings, Saratoga Invtmt (SAJ) used $2.40 of operating cash (-$88.0M OCF vs $36.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.