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Saratoga InvestmentSAR +0.59%45 Debt-to-Equity is 2.12 as of May. 2026, which is 38% above its 10-year median of 1.54. GuruFocus rates SAR with a GF Score™ of 45/100 and a GF Value™ of $13.55 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 948 Asset Management companies, Saratoga Investment ranks worse than 93.99% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Saratoga Investment's Debt-to-Equity or its related term are showing as below:
SAR'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.67 Med: 1.54 Max: 2.34
Current: 2.12
During the past 13 years, the highest Debt-to-Equity Ratio of Saratoga Investment was 2.34. The lowest was 0.67. And the median was 1.54.
SAR's Debt-to-Equity is ranked worse than 93.99% of 948
companies
in the Asset Management industry
Industry Median: 0.21
vs SAR: 2.12
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Saratoga Investment Debt-to-Equity Related Terms
Saratoga Investment Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Saratoga Investment's Debt-to-Equity 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.
For the Asset Management subindustry, Saratoga Investment's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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 Debt-to-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Saratoga Investment's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Saratoga Investment's Debt-to-Equity falls into.
* 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.
Saratoga Investment (SAR) has a Debt-to-Equity of 2.12 as of May. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Saratoga Investment and its competitors. This is 38% above median its historical median of 1.54. Over the past decade, Saratoga Investment's Debt-to-Equity has ranged from 0.67 to 2.34. According to the industry distribution chart, Saratoga Investment ranks #891 out of 948 companies in the Asset Management industry, placing it in the top 94%.
Is Saratoga Investment's Debt-to-Equity too high?
Saratoga Investment's current Debt-to-Equity of 2.12 is 38% above median its 10-year median of 1.54. Over the past 10 years, this metric has ranged from a low of 0.67 to a high of 2.34. The Asset Management industry median Debt-to-Equity is 0.21. Saratoga Investment's value of 2.12 is 909.5% above this industry median. Based on the distribution chart, Saratoga Investment ranks #891 out of 948 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Saratoga Investment has a GF Score™ of 45/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Saratoga Investment's Debt-to-Equity compare to RIV and TEI?
According to the Asset Management industry distribution chart, Saratoga Investment ranks #891 out of 948 companies for Debt-to-Equity. This places Saratoga Investment in the lower half of its industry. The industry median Debt-to-Equity is 0.21. Saratoga Investment's value of 2.12 is 909.5% above this benchmark. Historically, Saratoga Investment's own Debt-to-Equity has ranged from 0.67 to 2.34 over the past decade. While the company's 10-year median is 1.54 vs. the industry median of 0.21, Saratoga Investment has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for an Asset Management company?
The median Debt-to-Equity among Asset Management companies is 0.21, based on 948 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Saratoga Investment's current Debt-to-Equity of 2.12 is 909.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Saratoga Investment and its competitors. For the Asset Management industry, the median Debt-to-Equity is 0.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Saratoga Investment's current Debt-to-Equity is 2.12, which is 38% above median its own 10-year median of 1.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Saratoga Investment stock overvalued right now?
Based on GuruFocus' analysis, Saratoga Investment (SAR) is currently considered Significantly Overvalued. The stock's GF Value™ is $13.55, compared to a current price of $18.80 — trading 38.7% above its estimated fair value. The current Debt-to-Equity is 2.12, which is 38% above median its 10-year median of 1.54 and 909.5% above the Asset Management industry median of 0.21. Saratoga Investment's overall GF Score™ is 45/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Saratoga Investment (SAR), the current Debt-to-Equity is 2.12 as of May. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Saratoga Investment (SAR) Overvalued in 2026?
Based on GuruFocus' analysis, Saratoga Investment stock appears to be overvalued.
The current stock price of $18.80 is trading 38.7% above its estimated GF Value™ of $13.55.
GuruFocus considers Saratoga Investment to be Significantly Overvalued.
Key valuation signals for SAR:
Debt-to-Equity: 2.12 (38% above median its 10-year median of 1.54)
GF Value™: $13.55 vs. price of $18.80 (38.7% above fair value)
Industry Position: 909.5% above the Asset Management median (#891 of 948)
No single metric tells the full story. See the SAR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Saratoga Investment Corp is a specialty finance company that provides customized financing solutions to U.S. middle-market businesses. The company invests 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.
45GF Score
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