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

SARATOGA (SAV) reported diluted earnings per share of $2.02 for fiscal year 2025. This represents a 184.5% 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) Updated Nov 30, 2025 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 5 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 Profile 14/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of SARATOGA's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

SARATOGA's revenue declined 26.4% year-over-year, from $2.1M to $1.6M. This contraction results in a growth score of 0/100.

Leverage

SARATOGA has a moderate D/E ratio of 2.02. This balance of debt and equity financing earns a leverage score of 61/100.

Returns

SARATOGA generates a 7.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 24/100. This is up from 2.4% the prior year.

Piotroski F-Score Neutral

4/9

SARATOGA passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

7.03x

For every $1 of reported earnings, SARATOGA generates $7.03 in operating cash flow ($197.5M OCF vs $28.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.6M

YoY-26.4%

SARATOGA generated $1.6M in revenue in fiscal year 2025. This represents a decrease of 26.4% from the prior year.

EBITDA

N/A

Net Income

$28.1M

YoY+214.4%

SARATOGA reported $28.1M in net income in fiscal year 2025. This represents an increase of 214.4% from the prior year.

EPS (Diluted)

$2.02

YoY+184.5%

SARATOGA earned $2.02 per diluted share (EPS) in fiscal year 2025. This represents an increase of 184.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$148.2M

YoY+1605.1%

SARATOGA held $148.2M in cash against $793.9M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

15M

YoY+12.2%

SARATOGA had 15M shares outstanding in fiscal year 2025. This represents an increase of 12.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

1774.4%

YoY+1358.9pp

SARATOGA's net profit margin was 1774.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1358.9 percentage points from the prior year.

Return on Equity

7.1%

YoY+4.7pp

SARATOGA's ROE was 7.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

SAV Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$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
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$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
Interest Expense	$52.1M+5.9%	$49.2M+46.8%	$33.5M+68.5%	$19.9M+46.3%	$13.6M
Income Tax	$412K+859.9%	$43K+128.1%	-$153K-285.8%	-$40K-6044.4%	$667
Net Income	$28.1M+214.4%	$8.9M-63.8%	$24.7M-46.0%	$45.7M+209.5%	$14.8M
EPS (Diluted)	$2.02+184.5%	$0.71-65.5%	$2.06-48.4%	$3.99+202.3%	$1.32

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$662K+198.9%	$222K-16.2%	$264K-33.3%	$396K-46.5%	$741K+2016.3%	$35K-91.5%	$411K+13.1%	$363K
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	$889K+115.3%	$413K-36.0%	$645K+323.3%	-$289K-138.0%	$760K-7.5%	$822K+34.9%	$609K+114.7%	$284K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$11.9M+1223.5%	$900K+12.5%	$800K-97.9%	$38.2M+193.0%	$13.0M+2508.8%	$500K+66.7%	$300K-99.4%	$48.2M
Income Tax	-$205K-1708.9%	-$11K-120.8%	$54K-82.6%	$314K+756.7%	$37K-70.0%	$122K+302.2%	-$60K-211.4%	$54K
Net Income	$12.0M-9.7%	$13.3M-4.6%	$13.9M+2158.7%	-$677K-107.7%	$8.8M-33.7%	$13.3M+101.5%	$6.6M+24.6%	$5.3M
EPS (Diluted)	$0.74-11.9%	$0.84-7.7%	$0.91	N/A	$0.64-34.0%	$0.97+102.1%	$0.48	N/A

SAV Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$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
Cash & Equivalents	$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
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$798.9M-2.7%	$821.0M+12.3%	$731.2M+40.5%	$520.5M	N/A
Current Liabilities	$798.9M	N/A	N/A	N/A	N/A
Long-Term Debt	$793.9M+96669.8%	$820K-99.9%	$728.4M	N/A	N/A
Total Equity	$392.7M+6.1%	$370.2M+6.7%	$347.0M-2.5%	$355.8M+17.0%	$304.2M
Retained Earnings	-$20.3M-2227.1%	-$871K-103.5%	$25.1M-9.6%	$27.7M	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$1.2B-0.8%	$1.2B+0.3%	$1.2B+0.9%	$1.2B-2.3%	$1.2B+0.4%	$1.2B+1.1%	$1.2B+0.9%	$1.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$52.3M-50.5%	$105.7M-19.7%	$131.6M-11.2%	$148.2M+0.4%	$147.6M+74.5%	$84.6M+162.4%	$32.2M+270.7%	$8.7M
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	$783.8M-1.5%	$795.7M-1.3%	$805.9M+0.9%	$798.9M-5.5%	$845.1M+0.3%	$842.6M+1.0%	$833.9M+1.6%	$821.0M
Current Liabilities	N/A	N/A	$805.9M+0.9%	$798.9M	N/A	N/A	N/A	N/A
Long-Term Debt	$774.4M-1.5%	$786.4M-0.6%	$791.4M-0.3%	$793.9M-5.3%	$837.9M+99900.0%	$838K+0.8%	$831K+1.3%	$820K
Total Equity	$413.2M+0.7%	$410.5M+3.6%	$396.4M+0.9%	$392.7M+4.7%	$374.9M+0.8%	$372.1M+1.1%	$367.9M-0.6%	$370.2M
Retained Earnings	-$23.9M-0.3%	-$23.8M+5.9%	-$25.3M-24.9%	-$20.3M-750.0%	-$2.4M-127.7%	-$1.0M+75.2%	-$4.2M-385.5%	-$871K

SAV Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$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
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$33.3M-132.8%	$101.6M-41.4%	$173.6M-23.2%	$226.1M+328.1%	$52.8M
Dividends Paid	$40.7M+27.1%	$32.1M+41.4%	$22.7M+24.8%	$18.2M+61.2%	$11.3M
Share Buybacks	N/A	$2.2M-80.1%	$10.8M+325.3%	$2.5M-29.5%	$3.6M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	-$8.6M+55.4%	-$19.3M-159.8%	$32.3M+262.1%	-$19.9M-121.2%	$94.2M+32.3%	$71.1M+36.4%	$52.1M+352.4%	-$20.7M
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	-$22.6M-441.7%	-$4.2M+67.2%	-$12.7M+50.1%	-$25.5M-325.3%	-$6.0M-145.8%	-$2.4M-478.7%	$645K-95.4%	$14.1M
Dividends Paid	$10.8M+2.8%	$10.5M-37.0%	$16.7M+21.7%	$13.7M+52.8%	$9.0M-1.8%	$9.1M+1.6%	$9.0M+1.0%	$8.9M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0

SAV Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	1774.4%+1358.9pp	415.6%-272.7pp	688.3%-373.4pp	1061.7%+376.8pp	684.9%
Return on Equity	7.1%+4.7pp	2.4%-4.7pp	7.1%-5.7pp	12.8%+8.0pp	4.9%
Return on Assets	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
Debt-to-Equity	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

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
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	1811.4%-4183.7pp	5995.1%+725.2pp	5269.9%+5440.7pp	-170.8%-1363.5pp	1192.8%-36857.6pp	38050.4%+36441.4pp	1609.0%+148.7pp	1460.3%
Return on Equity	2.9%-0.3pp	3.2%-0.3pp	3.5%+3.7pp	-0.2%-2.5pp	2.4%-1.2pp	3.6%+1.8pp	1.8%+0.4pp	1.4%
Return on Assets	1.0%-0.1pp	1.1%-0.1pp	1.2%+1.2pp	-0.1%-0.8pp	0.7%-0.4pp	1.1%+0.5pp	0.5%+0.1pp	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.87-0.0	1.92-0.1	2.00-0.0	2.02-0.2	2.24+2.2	0.000.0	0.000.0	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 $1.6M in total revenue for fiscal year 2025. This represents a -26.4% 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 declined by 26.4% year-over-year, from $2.1M to $1.6M in fiscal year 2025.

Is SARATOGA profitable?

Yes, SARATOGA (SAV) reported a net income of $28.1M in fiscal year 2025, with a net profit margin of 1774.4%.

How much debt does SARATOGA have?

As of fiscal year 2025, SARATOGA (SAV) had $148.2M in cash and equivalents against $793.9M in long-term debt.

What is SARATOGA's net profit margin?

SARATOGA (SAV) had a net profit margin of 1774.4% in fiscal year 2025, 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 7.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is SARATOGA's operating cash flow?

SARATOGA (SAV) generated $197.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are SARATOGA's total assets?

SARATOGA (SAV) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does SARATOGA have outstanding?

SARATOGA (SAV) had 15M shares outstanding as of fiscal year 2025.

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

SARATOGA (SAV) had a debt-to-equity ratio of 2.02 as of fiscal year 2025, 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 2.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is SARATOGA's Piotroski F-Score?

SARATOGA (SAV) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 7.03x, considered cash-backed (high quality). 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.

How financially healthy is SARATOGA?

SARATOGA (SAV) scores 14 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.