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Stingray Dgt Vary SV (TSE:RAY.B)
TSX:RAY.B
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Stingray Dgt Vary SV
(TSX:RAY.B)
Rating:74Outperform
Price Target:
C$12.00
▲(17.65% Upside)
Stingray Dgt Vary SV (RAY.B) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$696.59M
Dividend Yield2.9%
Average Volume (3M)138.00
Price to Earnings (P/E)15.3
Beta (1Y)0.38
Revenue Growth12.00%
EPS GrowthN/A
CountryCA
Employees1,000
SectorCommunication Services
Sector Strength80
IndustryBroadcasting
Share Statistics
EPS (TTM)0.25
Shares Outstanding1,204,509
10 Day Avg. Volume121
30 Day Avg. Volume138
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$11.00Price Target Upside7.84% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering0
Stingray Dgt Vary SV Business Overview & Revenue Model
Company DescriptionStingray Group Inc. operates as a music, media, and technology company worldwide. The company offers Stingray Music, a multiplatform music service that gives listeners free access to curated music channels on television (TV), web, and mobile; Stingray Naturescape, a channel in 4K resolution; Stingray Now 4K, a curated 4K TV channel; and Stingray Festival 4K, a television channel that broadcasts exclusively in native 4K and Dolby Digital audio. It also provides Stingray Qello, an over-the-top streaming service on TV, mobile, and the web; Stingray Classica, a TV channel dedicated to classical music, including operas, ballets, concerts, and documentaries; Stingray iConcerts, a source for various live concerts; and Stingray DJAZZ, a TV channel dedicated to jazz and jazz-related genres, such as soul, blues, funk, gospel, hip-hop, fusion, reggae, Latin, swing, and bebop. In addition, the company offers karaoke services comprising The Voice, Yokee Piano, Yokee Karaoke, Yokee Guitar, Piano Academy, The Piano Keyboard, Stingray Kids' Karaoke, and Yokee Music, as well as Stingray Karaoke, a video on demand and TV app. Further, it provides music videos TV channels that include Stingray Country, Stingray cmusic, PalmarèsADISQ par Stingray, Stingray Hits!, Stingray Vibe, Stingray Loud, Stingray Retro, Stingray LiteTV, and Stingray Juicebox; and operates approximately 100 radio stations across Canada, as well as offers advertising solutions. The company distributes its products and services through various platforms that include digital cable TV, satellite TV, IPTV, OTT, the internet, mobile devices, game consoles, and connected cars. It serves cable and telecom companies, retailers, small and medium businesses, and directly to consumers. The company was formerly known as Stingray Digital Group Inc. and changed its name to Stingray Group Inc. in December 2018. Stingray Group Inc. was founded in 2007 and is headquartered in Montreal, Canada.
How the Company Makes MoneyStingray Dgt Vary SV generates revenue through multiple streams. Its primary revenue sources include subscription fees from consumers and businesses for its music and video streaming services. The company also earns from licensing its content to third-party platforms and broadcasters. Additionally, Stingray captures significant advertising revenue through its television and radio channels. Strategic partnerships with telecommunications companies and other digital platforms further enhance its distribution reach and contribute to its earnings. These partnerships often involve revenue-sharing agreements, providing Stingray with a steady income stream while expanding its audience base.
Stingray Dgt Vary SV Earnings Call Summary
Earnings Call Date:Aug 05, 2025
(Q4-2025)
| % Change Since: -5.12%|
Next Earnings Date:Nov 11, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong growth in advertising revenue, successful new channel launches, and significant improvements in revenue and net income, indicating strong operational performance. However, there were challenges in sustaining subscription revenue growth and declines in certain regional revenues.Q4-2025 Updates
Positive Updates
Strong Advertising Revenue Growth
Advertising revenue in broadcast and commercial music grew over 45% for the second consecutive year, driven by FAST channels and retail media.
Launch of New Channels
Introduction of new channels like Cozy Cafe and Stargaze, strengthening leadership in connected TV music and ambient content.
Organic Growth
Organic growth reached 12.3%, maintaining a trend of double-digit growth from the previous year's 10.2%.
Debt Reduction
Net debt reduced by $27 million with leverage ending at 2.28x, well within the company’s target.
Revenue and Earnings Improvement
Q4 revenue increased by 14.8% to $96 million, and net income was $7.7 million, a significant improvement from last year's $46.3 million loss.
FAST Revenue Momentum
FAST revenue is tracking well above initial expectations, with over 40% growth in Q1 2026.
Shareholder Returns
275,000 shares repurchased in Q4, totaling $9.1 million for the year, and $20.5 million paid in dividends.
Negative Updates
Decline in Other Regions' Revenue
Revenue from other regions decreased by 5.5% to $11.2 million.
Slight Decline in Cash Flow from Operations
Cash flow from operations dropped slightly due to higher taxes and restructuring costs.
Subscription Revenue Bump Not Sustainable
The 7% growth in subscription revenue in Q4 was a one-time promotion and not sustainable.
Company Guidance
In the recent Stingray Group Inc. Q4 2025 results conference call, significant growth metrics were highlighted, demonstrating the company's robust performance and strategic advancements. Advertising revenue in broadcast and commercial music surged over 45% for the second consecutive year, fueled by innovations like FAST channels and retail media, while organic growth reached 12.3%, marking two years of double-digit expansion. Financially, the company reduced net debt by $27 million, bringing leverage to 2.28x, and achieved a 19% increase in adjusted EBITDA to $35 million, with margins expanding to 36.5%. Broadcasting and commercial music revenue rose 17.8% to $254 million, and radio revenue grew 2.3% to $132 million. Additionally, Q4 revenue increased by 14.8% year-over-year to $96 million, driven by a 20.9% rise in broadcasting and commercial music revenue and a 3.9% increase in radio revenue. Net income improved significantly to $7.7 million from a $46.3 million loss last year. Looking ahead, the company aims to reinvest in high-growth areas, reduce leverage below 2x, and explore strategic M&A opportunities, while maintaining a focus on rewarding shareholders through buybacks and dividends.Stingray Dgt Vary SV Financial Statement Overview
Summary
Stingray Dgt Vary SV exhibits revenue growth and strong gross profit margins but faces profitability challenges with negative net income in recent periods. High leverage presents financial risk, though cash flow generation remains robust. Strategic focus on improving operating efficiency and reducing debt could enhance financial stability and performance.Income Statement
The company has shown revenue growth with a TTM revenue increase from the previous year, but profitability metrics like the EBIT margin and net profit margin are concerning. The net profit margin is negative in the latest TTM data, reflecting a net loss. The gross profit margin is strong, indicating effective cost management at the production level, but operational expenses are likely impacting overall profitability.58
Neutral
Balance Sheet
The debt-to-equity ratio remains relatively high, signaling significant leverage which could pose risks if not managed carefully. However, the equity ratio is reasonable, indicating a stable asset base supported by equity. The return on equity is negative in the latest TTM, reflecting the profitability challenges, which impact shareholder returns.63
Positive
Cash Flow
The company demonstrates strong operating cash flow relative to net income, suggesting good cash-generating ability despite net losses. Free cash flow is positive and has grown, highlighting effective capital expenditure control. However, sustainability of this positive cash flow in light of ongoing net losses is a potential concern.70
Positive
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 374.55M | 345.43M | 323.94M | 282.63M | 249.47M | 306.72M |
| Gross Profit | 111.65M | 87.95M | 111.67M | 87.23M | 83.43M | 116.34M |
| EBITDA | 55.78M | 60.78M | 94.66M | 91.59M | 116.74M | 72.81M |
| Net Income | -17.53M | -13.74M | 30.12M | 33.29M | 45.10M | 13.97M |
Balance Sheet | ||||||
| Total Assets | 836.57M | 811.57M | 895.20M | 883.70M | 822.84M | 867.99M |
| Cash, Cash Equivalents and Short-Term Investments | 19.25M | 9.61M | 15.45M | 14.56M | 9.04M | 2.51M |
| Total Debt | 390.13M | 386.70M | 412.24M | 411.96M | 365.66M | 394.62M |
| Total Liabilities | 570.51M | 562.98M | 608.93M | 610.17M | 548.14M | 594.10M |
| Stockholders Equity | 266.06M | 248.58M | 286.27M | 273.53M | 274.69M | 273.90M |
Cash Flow | ||||||
| Free Cash Flow | 90.40M | 104.48M | 71.49M | 66.61M | 90.81M | 73.77M |
| Operating Cash Flow | 103.23M | 118.53M | 86.95M | 83.66M | 104.25M | 88.14M |
| Investing Cash Flow | -18.02M | -16.64M | -20.61M | -18.63M | 5.43M | -17.95M |
| Financing Cash Flow | -73.20M | -107.72M | -65.45M | -59.51M | -103.15M | -72.36M |
Stingray Dgt Vary SV Technical Analysis
Neutral
10.20
Price Trends
9.74
Positive
8.84
Positive
8.30
Positive
Market Momentum
0.20
Positive
48.41
Neutral
37.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RAY.B, the sentiment is Neutral. The current price of 10.2 is below the 20-day moving average (MA) of 10.45, above the 50-day MA of 9.74, and above the 200-day MA of 8.30, indicating a neutral trend. The MACD of 0.20 indicates Positive momentum. The RSI at 48.41 is Neutral, neither overbought nor oversold. The STOCH value of 37.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:RAY.B.
Stingray Dgt Vary SV Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | C$696.59M | 15.32 | 17.21% | 2.90% | 12.00% | ― | |
61 Neutral | $41.49B | -3.65 | -10.67% | 4.11% | 2.78% | -51.02% | |
| ― | $13.06M | ― | ― | ― | ― | ||
| ― | $285.83M | ― | -3581.90% | ― | ― | ― | |
79 Outperform | C$696.59M | 15.23 | 17.21% | 2.96% | 12.00% | ― | |
57 Neutral | C$563.81M | 6.34 | 10.54% | 6.40% | -0.87% | 9.49% | |
54 Neutral | C$30.03M | ― | -7.26% | ― | -2.38% | 59.61% |
* Communication Services Sector Average
Performance Comparison
TSE:RAY.B
Stingray Dgt Vary SV
10.20
2.44
31.44%
CJREF
Corus Entertainment
0.07
>-0.01
-12.50%
WLDBF
WildBrain
1.34
0.25
22.94%
TSE:CGO
Cogeco Inc. SV
57.61
5.58
10.72%
TSE:RAY.A
Stingray Digit SV
10.13
2.42
31.39%
TSE:TVA.B
TVA Group Inc B NV
0.75
-0.40
-34.78%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.