Is RWAY or SAR more undervalued in 2026?

CirclFi compares Runway Growth Finance Corp. (RWAY) and Saratoga Investment Corp New (SAR) using 13 institutional-grade valuation models. RWAY has a Quality of Company score of 6.0/10 while SAR scores 5.8/10.

Which is a better buy — RWAY or SAR?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do RWAY and SAR valuations compare?

RWAY at $6.53 and SAR at $22.46 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

RWAY vs SAR Valuation Comparison 2026 — Intrinsic Value Analysis

RWAY

Asset Management

Runway Growth Finance Corp.

Quality

6.0

out of 10

Value Trap

SAFE

Price

$6.53

Last close

Models

8/13

Active

SAR

Asset Management

Saratoga Investment Corp New

Quality

5.8

out of 10

Value Trap

LOW

Price

$22.46

Last close

Models

10/13

Active

Model-by-Model Comparison

Model	Type	RWAY Fair Value	RWAY Upside	SAR Fair Value	SAR Upside
Bayesian DCF	Intrinsic	—	—	$4.81	-78.4%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$10.34	+58.3%	$60.38	+168.8%
Dynamic NAV	Asset-Based	$0.28	-95.9%	$10.27	-57.0%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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RWAY vs SAR — Which Stock Is More Undervalued?

RWAY scores higher with a 6.0/10 quality rating vs SAR's 5.8/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Runway Growth Finance Corp. (RWAY) and Saratoga Investment Corp New (SAR) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

RWAY currently trades at $6.53 with a QOC of 6.0/10, while SAR trades at $22.46 with a QOC of 5.8/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).