Saratoga Investment Cash Flow 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
Net Income	38.54	28.09	8.93	24.68	45.74	14.78
Other Amortization	4.86	5.03	5.17	3.59	2.16	1.37
Loss (Gain) From Sale of Investments	-5.57	20.25	44.72	5.95	-32.46	2.35
Other Operating Activities	-49.44	142.37	-209.87	-157.83	-229.03	-70.32
Change in Accounts Receivable	-1.38	2.85	-2.12	-3.07	-1.2	0.82
Change in Accounts Payable	-0.35	0.34	-0.13	0.67	-0.95	0.04
Change in Income Taxes	0	0.1	0.34	-3.26	2.82	-
Change in Other Net Operating Assets	-2.18	-1.48	-4.25	-1.1	9.79	-11.38
Operating Cash Flow	-15.53	197.54	-157.21	-130.37	-203.13	-62.35
Long-Term Debt Issued	-	30	149	336.88	385	104.13
Long-Term Debt Repaid	-	-56.5	-57	-119.13	-155.5	-33
Net Debt Issued (Repaid)	-63.5	-26.5	92	217.75	229.5	71.13
Issuance of Common Stock	51.7	35.35	49.01	-	26.84	-
Repurchase of Common Stock	-	-	-2.16	-10.82	-2.55	-3.61
Common Dividends Paid	-51.66	-40.75	-32.05	-22.67	-18.16	-11.27
Other Financing Activities	-1.61	-1.43	-5.17	-10.68	-9.54	-3.44
Financing Cash Flow	-65.08	-33.32	101.64	173.58	226.09	52.81
Net Cash Flow	-80.61	164.22	-55.57	43.21	22.96	-9.54
Cash Interest Paid	46.08	46.71	44.08	28.9	17.56	11.8
Cash Income Tax Paid	0.56	0.79	0.75	2.77	1.36	4.14
Levered Free Cash Flow	11.39	16.82	34.88	-5.04	30.24	9.76
Unlevered Free Cash Flow	37.57	44.33	60.45	12.3	40.5	16.88
Change in Working Capital	-3.92	1.81	-6.15	-6.76	10.46	-10.52

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