Saratoga Investment reported cash from operations of -$25.97M and free cash flow of -$25.97M for the quarter ended May 2026, down 180.4% year over year. This cash flow statement covers 21 quarters of results from Feb 2021 through May 2026, standardized by Business Quant from the company’s SEC filings.
| Cash Flow Statement | Feb2021 | Aug2021 | Nov2021 | Feb2022 | May2022 | Aug2022 | Nov2022 | Feb2023 | May2023 | Aug2023 | Nov2023 | Feb2024 | May2024 | Aug2024 | Nov2024 | Feb2025 | May2025 | Aug2025 | Nov2025 | Feb2026 | May2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||
| Net Income | 19.65M | 16.86M | 19.26M | 19.78M | 21.63M | 27.68M | 31.71M | 38.89M | 1.79M | 37.76M | 37.40M | 40.11M | 47.95M | -0.29M | 97.58M | 29.95M | 27.35M | 29.73M | -99.37M | 24.74M | |
| Share-based Compensation | -0.01M | -0.75M | -0.03M | 0.04M | -0.02M | 0.29M | 0.14M | -0.23M | 0.50M | 0.23M | 0.52M | -0.12M | -0.92M | 0.42M | -0.15M | 1.06M | -1.50M | 0.22M | |||
| Deferred Taxes | 0.13M | 0.46M | -0.41M | -0.34M | -0.02M | 0.70M | -0.08M | -0.01M | -0.00M | ||||||||||||
| Change in Interest Receivables | -0.55M | 0.53M | 0.23M | -0.31M | 3.80M | -0.66M | -0.33M | 0.20M | 1.20M | 1.06M | -0.68M | 0.47M | 0.02M | 0.52M | 0.62M | 0.28M | -1.59M | 1.73M | |||
| Cash from Operations | 15.29M | -146.20M | -80.21M | -60.26M | -22.46M | 32.56M | -110.91M | -7.08M | -18.55M | -20.66M | 52.15M | 71.15M | -19.92M | 32.29M | -19.30M | -8.60M | -92.42M | -25.97M | |||
| Depreciation, Depletion & Amortization | |||||||||||||||||||||
| Amortizatization of Intangibles | 0.48M | 0.67M | 0.35M | 0.48M | 0.41M | 0.57M | 0.46M | 0.40M | 0.78M | 0.58M | 0.81M | 0.47M | 0.63M | 0.86M | 0.31M | 1.26M | 0.67M | 0.81M | |||
| Amortization of Deferred Charges | 0.29M | 0.62M | 0.80M | 0.89M | 1.02M | 1.22M | 0.03M | 0.03M | 1.26M | 1.24M | 0.03M | 1.24M | 1.25M | 1.25M | 1.11M | 1.19M | 1.30M | ||||
| Change in Working Capital | |||||||||||||||||||||
| Change in Account Payables | 0.20M | -0.08M | 0.41M | -0.45M | 6.75M | -4.75M | -1.41M | -0.35M | 0.01M | ||||||||||||
| Change in Accured Expenses | 0.03M | 0.04M | -1.40M | 2.33M | -0.10M | 0.10M | -1.29M | 0.83M | -0.20M | 0.46M | -1.08M | 1.35M | -0.93M | -1.95M | 0.69M | -1.44M | 1.43M | -0.59M | -0.50M | ||
| Financing Activities | |||||||||||||||||||||
| Other financing activities | 2.20M | 2.24M | 4.11M | 0.98M | 2.31M | 2.74M | 2.72M | 1.37M | 0.39M | 0.22M | 0.88M | 0.32M | 1.17M | 0.30M | 0.27M | 0.81M | 5.48M | 1.71M | |||
| Debt Issuance and Repayment | |||||||||||||||||||||
| Long-Term Debt Issuances | 75.00M | 97.50M | 8.00M | 58.00M | 60.38M | 77.50M | 23.00M | 7.00M | 26.50M | 17.50M | 32.50M | 99.56M | 53.00M | ||||||||
| Change in Capital Stock | |||||||||||||||||||||
| Net Equity Issued and Repurchased | 15.16M | 11.51M | 9.01M | 13.03M | 30.22M | 225.70M | 11.10M | 1.50M | 227.20M | ||||||||||||
| Dividend Payments | |||||||||||||||||||||
| Dividends Paid - Common | 4.87M | 5.32M | 5.32M | 5.28M | 5.28M | 6.78M | 7.13M | 7.60M | 8.43M | 8.89M | 8.98M | 9.12M | 13.69M | 16.67M | 10.51M | 10.80M | 14.38M | 10.80M | |||
| Misc. | |||||||||||||||||||||
| Cash from Financing Activities | 55.47M | 55.00M | 128.83M | -28.59M | 56.86M | 16.47M | 67.99M | 2.36M | 17.15M | 14.14M | 0.64M | -2.44M | -25.52M | -12.73M | -4.18M | -22.64M | -55.36M | 64.99M | |||
| Change in Cash | 70.76M | -91.20M | 48.62M | -88.84M | 34.40M | 49.03M | -42.92M | -4.72M | -1.41M | -6.52M | 52.79M | 68.71M | -45.44M | 19.56M | -23.48M | -31.25M | -147.77M | 39.02M | |||
| Free Cash Flow | 15.29M | -146.20M | -80.21M | -60.26M | -22.46M | 32.56M | -110.91M | -7.08M | -18.55M | -20.66M | 52.15M | 71.15M | -19.92M | 32.29M | -19.30M | -8.60M | -92.42M | -25.97M | |||
| Net Cash Flow | 70.76M | -91.20M | 48.62M | -88.84M | 34.40M | 49.03M | -42.92M | -4.72M | -1.41M | -6.52M | 52.79M | 68.71M | -45.44M | 19.56M | -23.48M | -31.25M | -147.77M | 39.02M |