What is SARATOGA's earnings per share (EPS)?

SARATOGA (SAV) reported diluted earnings per share of $2.31 for fiscal year 2026. This represents a 14.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

SARATOGA Financials

SAV

Source SEC Filings (10-K/10-Q) Data as of May 31, 2026 Currency USD FYE February

This page shows SARATOGA (SAV) financial statements, including the 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).

Rhea AI SAV FY2025 2026-04-22

SAV’s economic engine sits on the balance sheet: cash generation and leverage mattered far more than its $1.6M revenue base in FY2025.

FY2025 looks less like a sales recovery than a funding reset: operating cash flow swung from -$157.2M to $197.5M. Because financing cash flow turned negative while cash still rose to $148.2M, the liquidity improvement appears to have come from internal balance-sheet cash release rather than from a larger revenue engine.

With just $1.6M of revenue against $1.2B of assets, standard sales-based margin reading would miss how this company operates. Positive net income alongside $52.1M of interest expense shows reported earnings are being shaped by asset-level income and financing effects, not by the top line alone.

Through FY2024, negative operating cash flow funded by positive financing cash flow meant the business was leaning on external capital even as leverage stayed around 2.0x debt to equity. In FY2025, that pattern reversed enough to cover the $40.7M dividend outflow while financing cash flow was -$33.3M, a meaningfully different cash posture.

Financial Health Signals

Financial health score pending refresh

We are recalculating SARATOGA's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

4/7

SARATOGA 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.

Earnings Quality Low Quality

-2.40x

For every $1 of reported earnings, SARATOGA generates $-2.40 in operating cash flow (-$88.0M OCF vs $36.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$2.2M

YoY+42.1%

5Y CAGR+0.8%

SARATOGA generated $2.2M in revenue in fiscal year 2026. This represents an increase of 42.1% from the prior year.

EBITDA

N/A

Net Income

$36.6M

YoY+30.3%

5Y CAGR+19.9%

SARATOGA reported $36.6M in net income in fiscal year 2026. This represents an increase of 30.3% from the prior year.

EPS (Diluted)

$2.31

YoY+14.4%

5Y CAGR+11.8%

SARATOGA earned $2.31 per diluted share (EPS) in fiscal year 2026. This represents an increase of 14.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$1.7M

YoY-98.9%

5Y CAGR-43.8%

SARATOGA held $1.7M in cash against $739.4M in long-term debt as of fiscal year 2026.

Dividends Per Share

N/A

Shares Outstanding

16M

YoY+5.9%

5Y CAGR+7.8%

SARATOGA had 16M shares outstanding in fiscal year 2026. This represents an increase of 5.9% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

1627.8%

YoY-146.6pp

5Y CAGR+942.9pp

SARATOGA's net profit margin was 1627.8% in fiscal year 2026, showing the share of revenue converted to profit. This is down 146.6 percentage points from the prior year.

Return on Equity

9.2%

YoY+2.1pp

5Y CAGR+4.4pp

SARATOGA'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.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$54K

5Y CAGR-56.8%

SARATOGA spent $54K on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

SAV Income Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Revenue	$2.2M+42.1%	$1.6M-26.4%	$2.1M-40.0%	$3.6M-16.8%	$4.3M+99.7%	$2.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.2M+17.1%	$1.9M-15.2%	$2.2M-3.7%	$2.3M+40.1%	$1.7M+16.4%	$1.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$49.3M-5.3%	$52.1M+5.9%	$49.2M+46.8%	$33.5M+68.5%	$19.9M+46.3%	$13.6M
Income Tax	-$138K-133.5%	$412K+859.9%	$43K+128.1%	-$153K-285.8%	-$40K-6044.4%	$667
Net Income	$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

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Revenue	$656K-40.3%	$1.1M+66.1%	$662K+198.9%	$222K-16.2%	$264K-33.3%	$396K-46.5%	$741K+2016.3%	$35K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$600K+114.9%	$279K-68.6%	$889K+115.3%	$413K-36.0%	$645K+323.3%	-$289K-138.0%	$760K-7.5%	$822K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$13.7M-61.8%	$35.7M+199.6%	$11.9M+1223.5%	$900K+12.5%	$800K-97.9%	$38.2M+193.0%	$13.0M+2508.8%	$500K
Income Tax	-$17K-170.9%	$23K+111.4%	-$205K-1708.9%	-$11K-120.8%	$54K-82.6%	$314K+756.7%	$37K-70.0%	$122K
Net Income	-$6.9M-164.2%	-$2.6M-121.8%	$12.0M-9.7%	$13.3M-4.6%	$13.9M+2158.7%	-$677K-107.7%	$8.8M-33.7%	$13.3M
EPS (Diluted)	$-0.42	N/A	$0.74-11.9%	$0.84-7.7%	$0.91	N/A	$0.64-34.0%	$0.97

SAV Balance Sheet

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
Current Assets	N/A	N/A	N/A	N/A	N/A	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
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
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+96669.8%	$820K-99.9%	$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

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Total Assets	$1.2B+5.1%	$1.1B-4.8%	$1.2B-0.8%	$1.2B+0.3%	$1.2B+0.9%	$1.2B-2.3%	$1.2B+0.4%	$1.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$46.1M+2646.4%	$1.7M-96.8%	$52.3M-50.5%	$105.7M-19.7%	$131.6M-11.2%	$148.2M+0.4%	$147.6M+74.5%	$84.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$819.0M+10.2%	$743.1M-5.2%	$783.8M-1.5%	$795.7M-1.3%	$805.9M+0.9%	$798.9M-5.5%	$845.1M+0.3%	$842.6M
Current Liabilities	N/A	N/A	N/A	N/A	$805.9M+0.9%	$798.9M	N/A	N/A
Long-Term Debt	$817.4M+10.5%	$739.4M-4.5%	$774.4M-1.5%	$786.4M-0.6%	$791.4M-0.3%	$793.9M-5.3%	$837.9M+99900.0%	$838K
Total Equity	$378.5M-4.5%	$396.2M-4.1%	$413.2M+0.7%	$410.5M+3.6%	$396.4M+0.9%	$392.7M+4.7%	$374.9M+0.8%	$372.1M
Retained Earnings	-$62.2M-44.3%	-$43.1M-80.2%	-$23.9M-0.3%	-$23.8M+5.9%	-$25.3M-24.9%	-$20.3M-750.0%	-$2.4M-127.7%	-$1.0M

SAV Cash Flow Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$88.0M-144.6%	$197.5M+225.7%	-$157.2M-20.6%	-$130.4M+35.8%	-$203.1M-225.8%	-$62.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$94.9M-184.8%	-$33.3M-132.8%	$101.6M-41.4%	$173.6M-23.2%	$226.1M+328.1%	$52.8M
Dividends Paid	$52.4M+28.5%	$40.7M+27.1%	$32.1M+41.4%	$22.7M+24.8%	$18.2M+61.2%	$11.3M
Share Buybacks	$54K	N/A	$2.2M-80.1%	$10.8M+325.3%	$2.5M-29.5%	$3.6M

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Operating Cash Flow	-$26.0M+71.9%	-$92.4M-974.3%	-$8.6M+55.4%	-$19.3M-159.8%	$32.3M+262.1%	-$19.9M-121.2%	$94.2M+32.3%	$71.1M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$65.0M+217.4%	-$55.4M-144.5%	-$22.6M-441.7%	-$4.2M+67.2%	-$12.7M+50.1%	-$25.5M-325.3%	-$6.0M-145.8%	-$2.4M
Dividends Paid	$10.8M-24.9%	$14.4M+33.2%	$10.8M+2.8%	$10.5M-37.0%	$16.7M+21.7%	$13.7M+52.8%	$9.0M-1.8%	$9.1M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SAV Financial Ratios

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	1627.8%-146.6pp	1774.4%+1358.9pp	415.6%-272.7pp	688.3%-373.4pp	1061.7%+376.8pp	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
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.87-0.2	2.02+2.0	0.00-2.1	2.10+0.6	1.46	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'27	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-1051.7%-814.2pp	-237.5%-2048.9pp	1811.4%-4183.7pp	5995.1%+725.2pp	5269.9%+5440.7pp	-170.8%-1363.5pp	1192.8%-36857.6pp	38050.4%
Return on Equity	-1.8%-1.2pp	-0.7%-3.6pp	2.9%-0.3pp	3.2%-0.3pp	3.5%+3.7pp	-0.2%-2.5pp	2.4%-1.2pp	3.6%
Return on Assets	-0.6%-0.3pp	-0.2%-1.2pp	1.0%-0.1pp	1.1%-0.1pp	1.2%+1.2pp	-0.1%-0.8pp	0.7%-0.4pp	1.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.16+0.3	1.870.0	1.87-0.0	1.92-0.1	2.00-0.0	2.02-0.2	2.24+2.2	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is SARATOGA's annual revenue?

SARATOGA (SAV) 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's revenue growing?

SARATOGA (SAV) revenue grew by 42.1% year-over-year, from $1.6M to $2.2M in fiscal year 2026.

Is SARATOGA profitable?

Yes, SARATOGA (SAV) reported a net income of $36.6M in fiscal year 2026, with a net profit margin of 1627.8%.

How much debt does SARATOGA have?

As of fiscal year 2026, SARATOGA (SAV) had $1.7M in cash and equivalents against $739.4M in long-term debt.

What is SARATOGA's net profit margin?

SARATOGA (SAV) had a net profit margin of 1627.8% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is SARATOGA's return on equity (ROE)?

SARATOGA (SAV) 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's operating cash flow?

SARATOGA (SAV) generated -$88.0M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are SARATOGA's total assets?

SARATOGA (SAV) had $1.1B in total assets as of fiscal year 2026, including both current and long-term assets.

Does SARATOGA buy back shares?

Yes, SARATOGA (SAV) spent $54K on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does SARATOGA have outstanding?

SARATOGA (SAV) had 16M shares outstanding as of fiscal year 2026.

What is SARATOGA's debt-to-equity ratio?

SARATOGA (SAV) 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's return on assets (ROA)?

SARATOGA (SAV) 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's cash runway?

Based on fiscal year 2026 data, SARATOGA (SAV) 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's Piotroski F-Score?

SARATOGA (SAV) 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's earnings high quality?

SARATOGA (SAV) has an earnings quality ratio of -2.40x, considered low quality (accrual-driven). 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.