NYSE$SAR
Saratoga Investment Corp · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Saratoga Investment reported fiscal Q4 2025 total investment income of $31.3M with a net loss of $0.8M and EPS of $(0.05).
Total investment income was $31.3 million for the quarter ended February 28, 2025, down from $37.2 million a year ago as repayments outpaced originations. Net investment income per share was $0.56; GAAP earnings per share was $(0.05) after unrealized marks, with NAV per share at $25.86.
- Q4 investment income $31.3M.
- NII per share $0.56; GAAP EPS $(0.05).
- NAV per share $25.86; AUM $978M.
- Originations $41.8M; non-accruals reduced to 0.3% of fair value.
Headline financials
Revenue & EPS history
Saratoga Investment · Revenue · Quarterly
$31.3M
Forward guidance
The BDC discusses portfolio yield, credit quality, and dividend policy rather than traditional revenue/EPS guidance.
Tailwinds
- Investment income supports quarterly distributions.
- Origination pipeline and portfolio diversification.
- NAV and leverage managed within BDC limits.
Headwinds
- Credit cycle risk in middle-market borrowers.
- Interest-rate moves affect spread income.
- Repayment timing can reduce investment income quarter to quarter.
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 Q4 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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