Saratoga Investment Corp (NYSE:SAR)
$ 23.16 -0.02 (-0.09%) Market Cap: 318.35 Mil Enterprise Value: 1.10 Bil PE Ratio: 19.14 PB Ratio: 0.86 GF Score: 54/100
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Q1 2025 Saratoga Investment Corp Earnings Call Transcript

Jul 10, 2024 / 02:00PM GMT
Release Date Price: $23.07 (+2.72%)

Key Points

Positve
  • Adjusted net investment income per share increased by 12% compared to the last quarter.
  • Net investment income of $1.5 per share significantly exceeded the $0.74 dividend by 42%.
  • High-quality, resilient portfolio valued at approximately $1.096 billion.
  • Strong dividend coverage with a 13.1% dividend yield and an 18.6% earnings yield.
  • Substantial liquidity with $299 million of investment capacity, including $93 million in cash.
Negative
  • No new portfolio company investments were originated during the quarter.
  • Net asset value (NAV) per share decreased by 6% from last year and 1% from last quarter.
  • Three investments remain on nonaccrual, representing 1.6% of fair value.
  • Total expenses increased from $2.3 million to $2.9 million compared to last year.
  • Overall deal market reflects slower deal volume and M&A activity, impacting new investment opportunities.
Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Saratoga Investment Corp.'s 2025 fiscal first-quarter financial results conference call. Please note that today's call is being recorded. (Operator Instructions)

At this time, I'd like to turn the call over to Saratoga Investment Corp.'s Chief Financial Officer and Chief Compliance Officer, Mr. Henri Steenkamp. Sir, please go ahead.

Henri Steenkamp
Saratoga Investment Corp - Chief Financial Officer, Chief Compliance Officer, Treasurer, Secretary, Director

Thank you. I would like to welcome everyone to Saratoga Investment Corp.'s 2025 fiscal first-quarter earnings conference call. Today's conference call includes forward-looking statements and projections. We ask you to refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from these forward-looking statements and projections. We do not undertake to update our forward-looking statements unless required to do so by law.

Today, we will be referencing a

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