Saratoga Investment Income Statement

Financials in millions USD. Fiscal year is March - February.

Millions USD. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Operating Revenue	4.28	4.7	5.42	6.85	7.57	4.67
Other Revenue	121.6	144.16	138.3	92.25	63.17	52.99
Revenue	125.88	148.86	143.72	99.1	70.74	57.65
Revenue Growth (YoY)	-18.68%	3.57%	45.02%	40.09%	22.71%	-1.36%
Gross Profit	125.88	148.86	143.72	99.1	70.74	57.65
Selling, General & Admin	36.62	40.98	35.79	29.49	30.33	20.26
Operating Expenses	36.62	40.98	35.79	29.49	30.33	20.26
Operating Income	89.26	107.88	107.93	69.61	40.41	37.39
Interest Expense	-49.66	-52.06	-49.18	-33.5	-19.88	-13.59
EBT Excluding Unusual Items	39.6	55.82	58.75	36.12	20.53	23.81
Gain (Loss) on Sale of Investments	2.42	-24.12	-47.83	-9.49	31.11	-4.31
Other Unusual Items	-0.92	-0.8	-0.11	-1.59	-2.43	-0.13
Pretax Income	41.1	30.9	10.81	25.04	49.21	19.36
Income Tax Expense	2.56	2.82	1.87	0.37	3.48	4.59
Net Income	38.54	28.09	8.93	24.68	45.74	14.78
Net Income to Common	38.54	28.09	8.93	24.68	45.74	14.78
Net Income Growth	13.12%	214.38%	-63.80%	-46.05%	209.50%	-73.49%
Shares Outstanding (Basic)	15	14	13	12	11	11
Shares Outstanding (Diluted)	15	14	13	12	11	11
Shares Change (YoY)	12.51%	9.80%	5.91%	4.42%	2.40%	20.06%
EPS (Basic)	2.50	2.02	0.71	2.06	3.99	1.32
EPS (Diluted)	2.50	2.02	0.71	2.06	3.99	1.32
EPS Growth	0.54%	186.33%	-65.82%	-48.33%	202.26%	-77.92%
Dividend Per Share	2.990	2.960	2.860	2.440	2.020	1.660
Dividend Growth	1.36%	3.50%	17.21%	20.79%	21.69%	-0.60%
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	70.91%	72.47%	75.09%	70.24%	57.13%	64.86%
Profit Margin	30.62%	18.87%	6.22%	24.90%	64.65%	25.63%
EBIT	89.26	107.88	107.93	69.61	40.41	37.39
EBIT Margin	70.91%	72.47%	75.09%	70.24%	57.13%	64.86%
Effective Tax Rate	6.23%	9.12%	17.33%	1.46%	7.07%	23.69%
Revenue as Reported	125.88	148.86	143.72	99.1	70.74	57.65

Source: S&P Global Market Intelligence. Standard template. Financial Sources.