NYSE$SAR
Saratoga Investment Corp · Q3 2025 earnings
Q3 2025 earnings · · Investor relations
Briefing
Reported a sequential quarterly increase in adjusted NII per share, grew LTM ROE, and saw strong deployments offset by repayments.
Saratoga Investment Corp. announced strong deployments of $84.5 million, supporting new and existing platforms, and reported an increase in adjusted NII per share and LTM ROE. The company's portfolio remains resilient with strategic actions taken to resolve challenges in portfolio companies.
- Adjusted NII per share increased sequentially, excluding the one-time Knowland interest reserve reversal.
- LTM ROE improved to 9.2%.
- NAV increased to $374.9 million.
- Originations of $84.5 million were elevated due to declining interest rates and increased M&A activity.
Headline financials
Revenue & EPS history
Saratoga Investment · Revenue · Quarterly
$35.9M
Forward guidance
Saratoga Investment remains confident in its management team, pipeline, leverage structure, and underwriting standards to steadily increase portfolio size, quality, and investment performance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2025
-0.2%
Avg return
Earnings day
-1.5%
Avg return
5 days after
+0.6%
Avg return
30 days after
50%
10 / 20 earnings
Positive
+3.9%
Q2 2023
Best reaction
-7.7%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | -1.3% | -5.9% | -4.5% | |
| Q3 2026 | +0.9% | +1.9% | +3.9% | |
| Q2 2026 | -4.3% | -11.6% | -10.5% | |
| Q1 2026 | +1.4% | +0.4% | +1.6% | |
| Q4 2025 | -7.7% | -2.3% | -1.1% | |
| Q3 2025 | +0.7% | +0.7% | +5.0% | |
| Q2 2025 | -0.3% | +2.4% | +4.8% | |
| Q1 2025 | +0.3% | +2.9% | -1.9% | |
| Q4 2024 | -0.1% | -1.9% | +2.0% | |
| Q3 2024 | +0.2% | -9.8% | -12.2% | |
| Q2 2024 | -1.4% | -1.7% | +1.2% | |
| Q1 2024 | +0.3% | -3.4% | -3.2% | |
| Q4 2023 | -0.1% | -0.2% | +17.5% | |
| Q3 2023 | +0.0% | +2.3% | +0.9% | |
| Q2 2023 | +3.9% | +1.0% | +7.1% | |
| Q1 2023 | -0.3% | -1.9% | -0.9% | |
| Q4 2022 | +2.3% | +0.7% | +3.2% | |
| Q3 2021 | -0.2% | -4.3% | -4.8% | |
| Q2 2022 | +1.7% | +1.3% | +0.8% | |
| Q4 2021 | +0.3% | -1.3% | +3.4% |
Discussion
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