Saratoga Investment Corp.

NYSE:SAR Stock Report

Market Cap: US$330.3m

Saratoga Investment Valuation

Is SAR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SAR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SAR ($23.93) is trading below our estimate of fair value ($42.4)

Significantly Below Fair Value: SAR is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SAR?

Key metric: As SAR is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SAR. This is calculated by dividing SAR's market cap by their current earnings.
What is SAR's PE Ratio?
PE Ratio15.6x
EarningsUS$21.18m
Market CapUS$330.25m

Price to Earnings Ratio vs Peers

How does SAR's PE Ratio compare to its peers?

The above table shows the PE ratio for SAR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average45.1x
SLVR SILVERspac
30.9xn/aUS$327.5m
GSAQ Global Synergy Acquisition
56xn/aUS$323.4m
HYAC Haymaker Acquisition 4
25.4xn/aUS$317.9m
GPAT GP-Act III Acquisition
68.1xn/aUS$364.8m
SAR Saratoga Investment
15.6x30.2%US$330.3m

Price-To-Earnings vs Peers: SAR is good value based on its Price-To-Earnings Ratio (15.6x) compared to the peer average (46.8x).

Price to Earnings Ratio vs Industry

How does SAR's PE Ratio compare vs other companies in the US Capital Markets Industry?

22 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ADX Adams Diversified Equity Fund
3.7xn/aUS$2.30b
CET Central Securities
4.5xn/aUS$1.31b
GAM General American Investors Company
4.3xn/aUS$1.21b
MUDS Mudrick Capital Acquisition Corporation II
3.4xn/aUS$401.64m
SAR 15.6xIndustry Avg. 23.2xNo. of Companies72PE020406080100+
22 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SAR is good value based on its Price-To-Earnings Ratio (15.6x) compared to the US Capital Markets industry average (23.2x).

Price to Earnings Ratio vs Fair Ratio

What is SAR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SAR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.6x
Fair PE Ratio15.6x

Price-To-Earnings vs Fair Ratio: SAR is expensive based on its Price-To-Earnings Ratio (15.6x) compared to the estimated Fair Price-To-Earnings Ratio (15.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SAR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$23.93
US$26.05
+8.9%
6.0%US$29.00US$25.00n/a5
Dec ’25US$25.69
US$26.05
+1.4%
6.0%US$29.00US$25.00n/a5
Nov ’25US$23.23
US$26.05
+12.1%
6.0%US$29.00US$25.00n/a5
Oct ’25US$23.03
US$25.04
+8.7%
7.7%US$29.00US$23.00n/a6
Sep ’25US$23.57
US$25.04
+6.2%
7.7%US$29.00US$23.00n/a6
Aug ’25US$23.01
US$25.04
+8.8%
7.7%US$29.00US$23.00n/a6
Jul ’25US$22.52
US$25.25
+12.1%
7.2%US$29.00US$23.00n/a7
Jun ’25US$23.74
US$25.25
+6.4%
7.2%US$29.00US$23.00n/a7
May ’25US$23.70
US$26.04
+9.9%
6.5%US$29.00US$24.00n/a7
Apr ’25US$23.12
US$26.04
+12.6%
6.5%US$29.00US$24.00n/a7
Mar ’25US$23.61
US$26.04
+10.3%
6.5%US$29.00US$24.00n/a7
Feb ’25US$23.01
US$26.04
+13.1%
6.5%US$29.00US$24.00n/a7
Jan ’25US$25.86
US$27.61
+6.8%
5.8%US$30.00US$25.00n/a7
Dec ’24US$26.11
US$27.61
+5.7%
5.8%US$30.00US$25.00US$25.697
Nov ’24US$23.92
US$27.61
+15.4%
5.8%US$30.00US$25.00US$23.237
Oct ’24US$25.70
US$28.11
+9.4%
5.5%US$30.00US$25.00US$23.037
Sep ’24US$25.75
US$28.11
+9.2%
5.5%US$30.00US$25.00US$23.577
Aug ’24US$26.68
US$28.11
+5.3%
5.5%US$30.00US$25.00US$23.017
Jul ’24US$26.99
US$27.38
+1.4%
5.1%US$30.00US$25.00US$22.528
Jun ’24US$28.64
US$27.38
-4.4%
5.1%US$30.00US$25.00US$23.748
May ’24US$24.38
US$28.19
+15.6%
2.2%US$29.00US$27.00US$23.708
Apr ’24US$25.28
US$28.36
+12.2%
1.6%US$29.00US$28.00US$23.127
Mar ’24US$27.49
US$28.36
+3.2%
1.6%US$29.00US$28.00US$23.617
Feb ’24US$27.04
US$28.36
+4.9%
1.6%US$29.00US$28.00US$23.017
Jan ’24US$25.49
US$27.71
+8.7%
4.3%US$29.00US$25.00US$25.867
Dec ’23US$26.90
US$27.75
+3.2%
4.6%US$29.00US$25.00US$26.116

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/24 23:16
End of Day Share Price 2024/12/24 00:00
Earnings2024/08/31
Annual Earnings2024/02/29

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Saratoga Investment Corp. is covered by 12 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Bryce RoweB. Riley Securities, Inc.
Bryce RoweB. Riley Wealth
David ChiaveriniCantor Fitzgerald & Co.