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Stingray Dgt Vary SV (TSE:RAY.B)
:RAY.B
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Stingray Dgt Vary SV
(TSX:RAY.B)
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Rating:69Neutral
Price Target:
C$11.00
▲(10.00% Upside)
Stingray Dgt Vary SV's overall stock score reflects strong financial performance and reasonable valuation, balanced by mixed technical indicators. The company's effective management of operations and cash flows supports its financial health, while the fair valuation and attractive dividend yield enhance its investment appeal. However, technical analysis suggests potential medium-term challenges, warranting cautious optimism.
Stingray Dgt Vary SV (RAY.B) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$690.83M
Dividend Yield2.94%
Average Volume (3M)221.00
Price to Earnings (P/E)14.8
Beta (1Y)0.05
Revenue Growth10.68%
EPS GrowthN/A
CountryCA
Employees1,000
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)0.25
Shares Outstanding1,199,669
10 Day Avg. Volume590
30 Day Avg. Volume221
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$10.50Price Target Upside5.00% Upside
Rating ConsensusHold
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: |
Next Earnings Date:Nov 11, 2025
Earnings Call Sentiment Positive
The earnings call highlights significant achievements in revenue growth, channel expansion, and financial management, despite minor regional revenue declines and a one-time subscription revenue bump. Overall, the positive aspects significantly outweigh the lowlights, indicating strong company performance.Q4-2025 Updates
Positive Updates
Record 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.
Successful Launch of New Channels
Stingray launched new channels like Cozy Cafe and Stargaze, strengthening its leadership in connected TV music and ambient content.
Debt Reduction and Financial Stability
Net debt was reduced by $27 million, ending the year with a leverage ratio of 2.28x, indicating strong financial management.
Strong Organic Growth
Organic growth reached 12.3%, following the previous year's 10.2%, marking two consecutive years of double-digit growth.
Increase in Broadcasting and Commercial Music Revenue
Broadcasting and commercial music revenue rose 17.8% to $254 million, with radio revenue up 2.3% to $132 million.
Significant Improvement in Net Income
Net income was $7.7 million, a significant improvement from last year's $46.3 million loss due to a goodwill impairment charge.
Adjusted EBITDA Growth and Margin Expansion
Adjusted EBITDA grew 19% to $35 million, with margins expanding to 36.5%.
Negative Updates
Decline in Other Regions
Revenue from regions outside Canada and the U.S. declined by 5.5% to $11.2 million.
Slight Decrease in Cash Flow from Operations
Cash flow from operations was $39.7 million, slightly down due to higher taxes and restructuring costs.
One-Time Subscription Revenue Bump
Subscription revenue growth of 7% in Q4 was attributed to a one-time promotional bump, not sustainable for future quarters.
Company Guidance
During the Stingray Group Inc. Q4 2025 results conference call, the company reported strong financial performance and strategic initiatives, setting the stage for continued growth in fiscal 2026. Key highlights included a 45% increase in advertising revenue in broadcast and commercial music for the second consecutive year, driven by FAST channels and retail media. Organic growth reached 12.3%, marking a second year of double-digit growth. Financially, net debt was reduced by $27 million, ending the year with leverage at 2.28x, and adjusted EBITDA grew by 19% to $35 million with margins expanding to 36.5%. Broadcasting and commercial music revenue rose 17.8% to $254 million, while radio grew 2.3% to $132 million. Looking ahead, priorities for fiscal 2026 include reinvesting in growth areas, reducing leverage below 2x, and engaging in strategic M&A. The company also highlighted strong cash flow from operations at $39.7 million and repurchased 275,000 shares in Q4, amounting to $9.1 million for the year.Stingray Dgt Vary SV Financial Statement Overview
Summary
Stingray Dgt Vary SV exhibits a positive financial trajectory with continuous revenue and profit growth, supported by efficient cost management. Although the balance sheet shows a leveraged position, the company's robust cash flow profile and solid cash conversion efficiency mitigate some risks. Attention to managing debt levels is warranted.Income Statement
Stingray Dgt Vary SV has shown a steady revenue growth over the years, with a notable increase from the previous year at 12.01%. The company's gross profit margin stands at approximately 26.06% for the latest year, indicating efficient cost management. Net profit margin has turned positive at 9.42%, recovering from a negative margin in the prior year. EBIT and EBITDA margins have also improved, reflecting stronger operational performance.75
Positive
Balance Sheet
The company's debt-to-equity ratio is relatively high at 1.35, suggesting a leveraged position which poses a risk if earnings fluctuate. However, the return on equity is reasonably strong at 13.65%, indicating effective use of equity capital. The equity ratio is 32.67%, indicating a moderate equity cushion against liabilities.68
Positive
Cash Flow
Stingray Dgt Vary SV demonstrates solid cash flow management, with free cash flow to net income ratio at 2.47, suggesting high cash conversion efficiency. Despite a decrease in operating cash flow, the company has maintained strong free cash flow, illustrating effective capital expenditure control.72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 393.46M | 386.89M | 345.43M | 323.94M | 282.63M | 249.47M |
| Gross Profit | 233.90M | 100.83M | 87.95M | 111.67M | 87.23M | 83.43M |
| EBITDA | 114.93M | 102.08M | 60.78M | 94.66M | 91.59M | 116.74M |
| Net Income | 45.93M | 36.44M | -13.74M | 30.12M | 33.29M | 45.10M |
Balance Sheet | ||||||
| Total Assets | 816.90M | 816.66M | 811.57M | 895.20M | 883.70M | 822.84M |
| Cash, Cash Equivalents and Short-Term Investments | 11.49M | 13.98M | 9.61M | 15.45M | 14.56M | 9.04M |
| Total Debt | 356.78M | 360.16M | 386.70M | 412.24M | 411.96M | 365.66M |
| Total Liabilities | 537.94M | 549.82M | 562.98M | 608.93M | 610.17M | 548.14M |
| Stockholders Equity | 278.97M | 266.83M | 248.58M | 286.27M | 273.53M | 274.69M |
Cash Flow | ||||||
| Free Cash Flow | 97.55M | 89.98M | 104.48M | 71.49M | 66.61M | 90.81M |
| Operating Cash Flow | 113.28M | 105.04M | 118.53M | 86.95M | 83.66M | 104.25M |
| Investing Cash Flow | -17.18M | -17.40M | -16.64M | -20.61M | -18.63M | 5.43M |
| Financing Cash Flow | -93.76M | -83.36M | -107.72M | -65.45M | -59.51M | -103.15M |
Stingray Dgt Vary SV Technical Analysis
Neutral
10.00
Price Trends
10.19
Negative
9.51
Positive
8.69
Positive
Market Momentum
-0.01
Negative
48.78
Neutral
33.61
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 is above the 20-day moving average (MA) of 10.00, below the 50-day MA of 10.19, and above the 200-day MA of 8.69, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 48.78 is Neutral, neither overbought nor oversold. The STOCH value of 33.61 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 (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | C$690.83M | 14.83 | 17.21% | 2.94% | 10.68% | ― | |
69 Neutral | 711.73M | 15.09 | 16.46% | 2.86% | 10.68% | ― | |
62 Neutral | 592.74M | 6.58 | 10.28% | 6.00% | -0.87% | 9.49% | |
56 Neutral | 409.89M | -5.09 | ― | ― | 14.90% | 26.37% | |
54 Neutral | 27.44M | -1.16 | ― | ― | -6.49% | 36.66% | |
41 Neutral | 17.95M | -0.23 | 17.53% | ― | -13.09% | 88.95% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
Performance Comparison
TSE:RAY.B
Stingray Dgt Vary SV
10.21
3.18
45.23%
CJREF
Corus Entertainment
0.07
-0.05
-41.67%
WLDBF
WildBrain
1.40
0.45
47.37%
TSE:CGO
Cogeco Inc. SV
61.47
5.26
9.36%
TSE:RAY.A
Stingray Digit SV
10.50
3.45
48.94%
TSE:TVA.B
TVA Group Inc B NV
0.64
-0.61
-48.80%
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.