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SAR (Saratoga Investment) Cyclically Adjusted Book per Share : $29.97 (As of Nov. 2024)


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What is Saratoga Investment Cyclically Adjusted Book per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

Saratoga Investment's adjusted book value per share for the three months ended in Nov. 2024 was $26.951. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $29.97 for the trailing ten years ended in Nov. 2024.

During the past 12 months, Saratoga Investment's average Cyclically Adjusted Book Growth Rate was 2.00% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 4.80% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 1.00% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Saratoga Investment was 4.80% per year. The lowest was -20.20% per year. And the median was -2.60% per year.

As of today (2025-04-13), Saratoga Investment's current stock price is $22.51. Saratoga Investment's Cyclically Adjusted Book per Share for the quarter that ended in Nov. 2024 was $29.97. Saratoga Investment's Cyclically Adjusted PB Ratio of today is 0.75.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Saratoga Investment was 1.10. The lowest was 0.36. And the median was 0.81.


Saratoga Investment Cyclically Adjusted Book per Share Historical Data

The historical data trend for Saratoga Investment's Cyclically Adjusted Book per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Saratoga Investment Cyclically Adjusted Book per Share Chart

Saratoga Investment Annual Data
Trend Feb15 Feb16 Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 26.15 25.81 27.54 28.91 29.67

Saratoga Investment Quarterly Data
Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24
Cyclically Adjusted Book per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 29.38 29.67 29.98 29.99 29.97

Competitive Comparison of Saratoga Investment's Cyclically Adjusted Book per Share

For the Asset Management subindustry, Saratoga Investment's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Saratoga Investment's Cyclically Adjusted PB Ratio Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Saratoga Investment's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Saratoga Investment's Cyclically Adjusted PB Ratio falls into.


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Saratoga Investment Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Saratoga Investment's adjusted Book Value per Share data for the three months ended in Nov. 2024 was:

Adj_Book= Book Value per Share /CPI of Nov. 2024 (Change)*Current CPI (Nov. 2024)
=26.951/133.1099*133.1099
=26.951

Current CPI (Nov. 2024) = 133.1099.

Saratoga Investment Quarterly Data

Book Value per Share CPI Adj_Book
201502 22.695 99.032 30.505
201505 22.747 100.333 30.178
201508 22.424 100.548 29.686
201511 22.590 100.135 30.029
201602 22.065 100.040 29.359
201605 22.109 101.355 29.036
201608 22.394 101.617 29.334
201611 22.213 101.829 29.037
201702 21.966 102.779 28.448
201705 21.687 103.256 27.957
201708 22.366 103.587 28.740
201711 22.577 104.072 28.876
201802 22.965 105.052 29.099
201805 23.057 106.148 28.914
201808 23.163 106.383 28.982
201811 23.133 106.338 28.957
201902 23.622 106.649 29.483
201905 24.055 108.048 29.635
201908 24.470 108.245 30.091
201911 25.296 108.519 31.028
202002 27.125 109.139 33.083
202005 25.105 108.175 30.892
202008 26.685 109.662 32.391
202011 26.844 109.793 32.545
202102 27.254 110.968 32.692
202105 28.705 113.576 33.642
202108 28.967 115.421 33.406
202111 29.165 117.269 33.105
202202 29.328 119.703 32.613
202205 28.693 123.323 30.970
202208 28.273 124.958 30.118
202211 28.251 125.607 29.938
202302 29.178 126.928 30.599
202305 28.482 128.314 29.546
202308 28.443 129.538 29.227
202311 27.416 129.548 28.170
202402 27.117 130.930 27.569
202405 26.853 132.509 26.975
202408 27.066 132.816 27.126
202411 26.951 133.110 26.951

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


Saratoga Investment  (NYSE:SAR) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Saratoga Investment's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=22.51/29.97
=0.75

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Saratoga Investment was 1.10. The lowest was 0.36. And the median was 0.81.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Saratoga Investment Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of Saratoga Investment's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Saratoga Investment Business Description

Traded in Other Exchanges
N/A
Address
535 Madison Avenue, 4th Floor, New York, NY, USA, 10022
Saratoga Investment Corp is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. Its objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments.
Executives
Christian L Oberbeck director, 10 percent owner, officer: CEO and Director C/O KOPPERS INC, 436 SEVENTH AVENUE, SUITE 1550, PITTSBURG PA 15219
Steven M Looney director 132 WAIKU ROAD, RIDGEWOOD NJ 07450-2322
Henri J Steenkamp officer: Chief Financial Officer SARATOGA INVESTMENT ADVISORS, LLC, 535 MADISON AVENUE, 4TH FLOOR, NEW YORK NY 10022
Williams George Cabell Iii director 5422 ALBIA ROAD, BETHESDA MD 20816
Elizabeth Oberbeck 10 percent owner C/O SARATOGA INVESTMENT CORP., 535 MADISON AVENUE, NEW YORK NY 10022
Michael J Grisius director, officer: President and Director 1919 PENNSYLVANIA AVE NW, 3RD FL, WASHINGTON DC 20006
Whitman Iii Charles S director C/O GSC INVESTMENT CORP., 12 EAST 49TH STREET, SUITE 3200, NEW YORK NY 10017
Phillips Charles G Iv other: Member of 10% owner group. C/O SARATOGA INVESTMENT ADVISORS, LLC, 535 MADISON AVENUE, 4TH FLOOR, NEW YORK NY 10022
Richard A Petrocelli director, officer: CFO, Secretary and CCO 1350 6TH AVENUE, 18TH FLOOR, NEW YORK NY 10019
John P. Birkelund other: Member of 10% owner group ETHAN ALLEN DRIVE, DANBURY CT 06811
John F. Macmurray other: Member of 10% owner group C/O SARATOGA INVESTMENT ADVISORS, LLC, 535 MADISON AVENUE, 4TH FLOOR, NEW YORK NY 10022
Durkin Charles P Jr other: Member of 10% owner group
Clo Partners Llc other: Member of 10% owner group 535 MADISON AVENUE, 4TH FLOOR, NEW YORK NY 10022
Saratoga Investment Advisors, Llc other: Member of 10% owner group 535 MADISON AVENUE, 4TH FLOOR, NEW YORK NY 10022
Ivo Turkedjiev officer: VP Corporate Credit Group C/O GSC INVESTMENT CORP, 888 SEVENTH AVE, NEW YORK NY 10019