Saratoga Investment Corp
NYSE:SAR
Income Statement
Earnings Waterfall
Saratoga Investment Corp
Revenue
|
138.8m
USD
|
Cost of Revenue
|
-76.9m
USD
|
Gross Profit
|
61.9m
USD
|
Operating Expenses
|
-8.1m
USD
|
Operating Income
|
53.7m
USD
|
Other Expenses
|
-30.9m
USD
|
Net Income
|
22.8m
USD
|
Income Statement
Saratoga Investment Corp
Nov-2013 | Feb-2014 | May-2014 | Aug-2014 | Nov-2014 | Feb-2015 | May-2015 | Aug-2015 | Nov-2015 | Feb-2016 | May-2016 | Aug-2016 | Nov-2016 | Feb-2017 | May-2017 | Aug-2017 | Nov-2017 | Feb-2018 | May-2018 | Aug-2018 | Nov-2018 | Feb-2019 | May-2019 | Aug-2019 | Nov-2019 | Feb-2020 | May-2020 | Aug-2020 | Nov-2020 | Feb-2021 | May-2021 | Aug-2021 | Nov-2021 | Feb-2022 | May-2022 | Aug-2022 | Nov-2022 | Feb-2023 | May-2023 | Aug-2023 | Nov-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
22
N/A
|
23
+2%
|
23
+1%
|
24
+5%
|
26
+6%
|
27
+7%
|
29
+5%
|
30
+4%
|
30
-1%
|
30
+1%
|
30
+1%
|
31
+2%
|
33
+5%
|
33
+2%
|
34
+2%
|
36
+5%
|
37
+3%
|
39
+5%
|
40
+5%
|
42
+3%
|
45
+8%
|
48
+6%
|
50
+5%
|
52
+5%
|
54
+3%
|
58
+9%
|
59
+1%
|
59
0%
|
59
+0%
|
58
-2%
|
61
+6%
|
66
+7%
|
68
+3%
|
71
+4%
|
73
+3%
|
76
+5%
|
86
+13%
|
99
+16%
|
115
+16%
|
129
+12%
|
139
+8%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(11)
|
(12)
|
(12)
|
(13)
|
(15)
|
(15)
|
(17)
|
(17)
|
(17)
|
(17)
|
(16)
|
(17)
|
(18)
|
(19)
|
(19)
|
(20)
|
(22)
|
(23)
|
(24)
|
(23)
|
(24)
|
(27)
|
(29)
|
(32)
|
(34)
|
(39)
|
(34)
|
(33)
|
(32)
|
(29)
|
(39)
|
(42)
|
(44)
|
(45)
|
(41)
|
(44)
|
(48)
|
(57)
|
(64)
|
(72)
|
(77)
|
|
Gross Profit |
12
N/A
|
11
-4%
|
11
-4%
|
11
-2%
|
10
-3%
|
12
+16%
|
12
-2%
|
13
+13%
|
13
-2%
|
14
+4%
|
14
+6%
|
14
-5%
|
15
+9%
|
14
-4%
|
15
+7%
|
16
+2%
|
15
-2%
|
16
+5%
|
16
+2%
|
18
+12%
|
20
+12%
|
21
+3%
|
21
0%
|
21
0%
|
19
-7%
|
20
+2%
|
25
+28%
|
26
+3%
|
27
+4%
|
28
+5%
|
22
-22%
|
24
+6%
|
24
+3%
|
26
+6%
|
31
+21%
|
32
+3%
|
37
+16%
|
42
+13%
|
51
+20%
|
57
+13%
|
62
+8%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(5)
|
(5)
|
(5)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(3)
|
(3)
|
(4)
|
(4)
|
(6)
|
(6)
|
(6)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(9)
|
(8)
|
(8)
|
|
Selling, General & Administrative |
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(7)
|
(8)
|
(8)
|
|
Other Operating Expenses |
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
10
N/A
|
9
-8%
|
8
-5%
|
8
-2%
|
8
-3%
|
10
+21%
|
9
-4%
|
11
+16%
|
10
-4%
|
11
+3%
|
11
+7%
|
10
-9%
|
12
+12%
|
11
-5%
|
11
-4%
|
11
+3%
|
11
-4%
|
13
+21%
|
13
+3%
|
15
+15%
|
17
+14%
|
17
+1%
|
18
+5%
|
17
-4%
|
16
-9%
|
16
0%
|
20
+24%
|
20
+4%
|
21
+5%
|
23
+8%
|
17
-28%
|
18
+7%
|
18
+4%
|
20
+8%
|
25
+27%
|
26
+5%
|
31
+18%
|
35
+12%
|
42
+19%
|
49
+19%
|
54
+9%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
1
|
(0)
|
(2)
|
1
|
4
|
1
|
7
|
4
|
4
|
1
|
(4)
|
1
|
(2)
|
2
|
(2)
|
(0)
|
3
|
5
|
7
|
2
|
(1)
|
1
|
4
|
10
|
21
|
42
|
6
|
19
|
15
|
(4)
|
47
|
35
|
33
|
30
|
3
|
(8)
|
(15)
|
(8)
|
(15)
|
(15)
|
(29)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
0
|
0
|
0
|
(0)
|
0
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(2)
|
0
|
(0)
|
(0)
|
|
Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Pre-Tax Income |
11
N/A
|
9
-21%
|
6
-24%
|
10
+50%
|
12
+22%
|
11
-7%
|
17
+51%
|
15
-12%
|
15
+0%
|
12
-21%
|
8
-35%
|
12
+53%
|
10
-16%
|
11
+17%
|
9
-20%
|
11
+18%
|
13
+25%
|
18
+32%
|
21
+16%
|
17
-18%
|
16
-4%
|
19
+14%
|
22
+21%
|
27
+21%
|
37
+37%
|
56
+52%
|
26
-54%
|
40
+55%
|
37
-8%
|
19
-47%
|
63
+230%
|
51
-19%
|
49
-4%
|
48
-2%
|
25
-47%
|
17
-34%
|
14
-13%
|
26
+79%
|
27
+4%
|
34
+25%
|
24
-28%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
(0)
|
(4)
|
(4)
|
(5)
|
(7)
|
(2)
|
(2)
|
(2)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
|
Income from Continuing Operations |
11
|
9
|
6
|
10
|
12
|
11
|
17
|
15
|
15
|
12
|
8
|
12
|
10
|
11
|
9
|
11
|
13
|
18
|
21
|
17
|
16
|
19
|
22
|
27
|
37
|
56
|
25
|
40
|
32
|
15
|
58
|
45
|
47
|
46
|
23
|
16
|
14
|
25
|
26
|
33
|
23
|
|
Net Income (Common) |
11
N/A
|
9
-21%
|
6
-24%
|
10
+50%
|
12
+22%
|
11
-7%
|
17
+51%
|
15
-12%
|
15
+0%
|
12
-21%
|
8
-35%
|
12
+53%
|
10
-16%
|
11
+17%
|
9
-20%
|
11
+18%
|
13
+25%
|
18
+32%
|
21
+16%
|
17
-18%
|
16
-4%
|
19
+14%
|
22
+21%
|
27
+20%
|
37
+38%
|
56
+51%
|
25
-54%
|
40
+56%
|
32
-19%
|
15
-54%
|
58
+296%
|
45
-24%
|
47
+4%
|
46
-2%
|
23
-49%
|
16
-30%
|
14
-14%
|
25
+78%
|
26
+5%
|
33
+27%
|
23
-31%
|
|
EPS (Diluted) |
2.23
N/A
|
1.73
-22%
|
1.2
-31%
|
1.79
+49%
|
2.2
+23%
|
2.04
-7%
|
3.07
+50%
|
2.62
-15%
|
2.6
-1%
|
2.09
-20%
|
1.33
-36%
|
2.03
+53%
|
1.69
-17%
|
1.98
+17%
|
1.55
-22%
|
1.81
+17%
|
2.21
+22%
|
2.93
+33%
|
3.26
+11%
|
2.42
-26%
|
2.16
-11%
|
2.63
+22%
|
2.88
+10%
|
3.21
+11%
|
3.66
+14%
|
5.98
+63%
|
2.26
-62%
|
3.53
+56%
|
2.9
-18%
|
1.32
-54%
|
5.23
+296%
|
3.99
-24%
|
4.06
+2%
|
3.99
-2%
|
1.91
-52%
|
1.35
-29%
|
1.18
-13%
|
2.06
+75%
|
2.19
+6%
|
2.7
+23%
|
1.74
-36%
|