Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Saratoga InvestmentFRA:QJ8 -0.63%42 Pretax Margin % is 156.45% as of May. 2026, which is 106% above its 10-year median of 76.11. GuruFocus rates FRA:QJ8 with a GF Score™ of 42/100 and a GF Value™ of €11.32 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,567 Asset Management companies, Saratoga Investment ranks worse than 64.01% on this metric.
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Saratoga Investment Pretax Margin % Related Terms
Saratoga Investment Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Saratoga Investment's Pretax Margin % 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.
FRA:QJ8 vs RIV, TEI, EFR: Pretax Margin % Comparison
For the Asset Management subindustry, Saratoga Investment's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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 Pretax Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Saratoga Investment's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Saratoga Investment's Pretax Margin % 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 (FRA:QJ8) has a Pretax Margin % of 156.45% as of May. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Saratoga Investment and its competitors. This is 106% above median its historical median of 76.11. Over the past decade, Saratoga Investment's Pretax Margin % has ranged from 57.45 to 88.58. According to the industry distribution chart, Saratoga Investment ranks #1003 out of 1567 companies in the Asset Management industry, placing it in the top 64%.
Is Saratoga Investment's Pretax Margin % too high?
Saratoga Investment's current Pretax Margin % of 156.45% is 106% above median its 10-year median of 76.11. Over the past 10 years, this metric has ranged from a low of 57.45 to a high of 88.58. The Asset Management industry median Pretax Margin % is 90.32. Saratoga Investment's value of 156.45% is 73.2% above this industry median. Based on the distribution chart, Saratoga Investment ranks #1003 out of 1567 companies in the Asset Management industry, which is below the industry midpoint. Overall, Saratoga Investment has a GF Score™ of 42/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Saratoga Investment's Pretax Margin % compare to RIV and TEI?
According to the Asset Management industry distribution chart, Saratoga Investment ranks #1003 out of 1567 companies for Pretax Margin %. This places Saratoga Investment in the lower half of its industry. The industry median Pretax Margin % is 90.32. Saratoga Investment's value of 156.45% is 73.2% above this benchmark. Historically, Saratoga Investment's own Pretax Margin % has ranged from 57.45 to 88.58 over the past decade. While the company's 10-year median is 76.11 vs. the industry median of 90.32, 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 Pretax Margin % for an Asset Management company?
The median Pretax Margin % among Asset Management companies is 90.32, based on 1,567 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Saratoga Investment's current Pretax Margin % of 156.45% is 73.2% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Saratoga Investment and its competitors. For the Asset Management industry, the median Pretax Margin % is 90.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Saratoga Investment's current Pretax Margin % is 156.45%, which is 106% above median its own 10-year median of 76.11. 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 (FRA:QJ8) is currently considered Significantly Overvalued. The stock's GF Value™ is €11.32, compared to a current price of €15.70 — trading 38.7% above its estimated fair value. The current Pretax Margin % is 156.45%, which is 106% above median its 10-year median of 76.11 and 73.2% above the Asset Management industry median of 90.32. Saratoga Investment's overall GF Score™ is 42/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Saratoga Investment (FRA:QJ8), the current Pretax Margin % is 156.45% 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 (FRA:QJ8) Overvalued in 2026?
Based on GuruFocus' analysis, Saratoga Investment stock appears to be overvalued.
The current stock price of €15.70 is trading 38.7% above its estimated GF Value™ of €11.32.
GuruFocus considers Saratoga Investment to be Significantly Overvalued.
Key valuation signals for FRA:QJ8:
Pretax Margin %: 156.45% (106% above median its 10-year median of 76.11)
GF Value™: €11.32 vs. price of €15.70 (38.7% above fair value)
Industry Position: 73.2% above the Asset Management median (#1003 of 1567)
No single metric tells the full story. See the FRA:QJ8 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.
42GF Score
Get the complete analysis for FRA:QJ8
Pretax Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:QJ8 has been successfully added to your 
