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Stingray Group
(TSX:RAY)
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Rating:54Neutral
Price Target:
C$15.50
▼(-4.97% Downside)
Action:Reiterated
Date:07/10/26
The score is primarily held back by weakened profitability and higher leverage despite continued revenue momentum and solid free cash flow. Technical signals are broadly neutral and do not materially change the outlook, while valuation is constrained by negative earnings with only modest dividend support.
Positive Factors
Strong cash generation
Meaningful operating cash flow and sizeable free cash flow provide a durable cushion to fund content licensing, platform investments, and working capital. Over 2-6 months this supports operational continuity, potential deleveraging, and the ability to prioritize reinvestment despite margin volatility.
Negative Factors
Rising leverage
Material increase in leverage significantly raises financial risk and reduces flexibility to invest or absorb shocks. With higher debt levels, interest obligations and covenant pressure can constrain strategic options like content spending or acquisitions over the medium term unless deleveraging occurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Meaningful operating cash flow and sizeable free cash flow provide a durable cushion to fund content licensing, platform investments, and working capital. Over 2-6 months this supports operational continuity, potential deleveraging, and the ability to prioritize reinvestment despite margin volatility.
Read all positive factors
Stingray Group (RAY) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.04B
Dividend Yield1.34%
Average Volume (3M)34.56K
Price to Earnings (P/E)―
Beta (1Y)0.70
Revenue Growth21.89%
EPS Growth-178.63%
CountryCA
Employees1,000
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)-0.42
Shares Outstanding54,057,392
10 Day Avg. Volume24,316
30 Day Avg. Volume34,557
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)4.64
Price to Sales (P/S)2.08
P/FCF Ratio11.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$21.50Price Target Upside31.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)2.11
Revenue Forecast (FY)C$648.50M
Stingray Group Business Overview & Revenue Model
Company Description
Stingray Group Inc. operates as a music, media, and technology company in Canada, the United States, and internationally. It operates through Broadcasting and Commercial Music and Radio segments. The company offers music, digital, and advertising ...
How the Company Makes Money
Stingray primarily makes money by licensing and distributing its curated music and video services through business-to-business distribution relationships and by selling subscriptions and access to its products. Key revenue streams typically includ...
Stingray Group Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
40
Negative
Cash Flow
63
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 471.57M | 386.89M | 345.43M | 323.94M | 282.63M |
| Gross Profit | 93.44M | 100.83M | 87.95M | 89.66M | 68.82M |
| EBITDA | 132.38M | 102.08M | 60.28M | 111.67M | 92.67M |
| Net Income | -28.57M | 36.44M | -13.74M | 30.12M | 33.29M |
Balance Sheet | |||||
| Total Assets | 1.03B | 816.66M | 811.57M | 895.20M | 883.70M |
| Cash, Cash Equivalents and Short-Term Investments | 20.75M | 13.98M | 9.61M | 15.45M | 14.56M |
| Total Debt | 547.41M | 360.16M | 386.70M | 412.24M | 409.35M |
| Total Liabilities | 815.52M | 549.82M | 562.98M | 608.93M | 610.17M |
| Stockholders Equity | 211.54M | 266.83M | 248.58M | 286.27M | 273.53M |
Cash Flow | |||||
| Free Cash Flow | 85.83M | 89.98M | 104.48M | 71.49M | 66.61M |
| Operating Cash Flow | 93.39M | 105.04M | 118.53M | 86.95M | 83.66M |
| Investing Cash Flow | -231.87M | -17.40M | -16.64M | -20.61M | -18.63M |
| Financing Cash Flow | 145.10M | -83.36M | -107.72M | -65.45M | -59.51M |
Stingray Group Technical Analysis
Positive
16.31
Price Trends
14.87
Positive
14.90
Positive
14.30
Positive
Market Momentum
0.16
Negative
58.54
Neutral
79.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:RAY, the sentiment is Positive. The current price of 16.31 is above the 20-day moving average (MA) of 15.21, above the 50-day MA of 14.87, and above the 200-day MA of 14.30, indicating a bullish trend. The MACD of 0.16 indicates Negative momentum. The RSI at 58.54 is Neutral, neither overbought nor oversold. The STOCH value of 79.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:RAY.
Stingray Group Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
56 Neutral | C$739.65M | -28.50 | 27.72% | ― | 2.81% | 66.70% | |
55 Neutral | C$607.40M | 7.02 | 9.64% | 5.98% | -4.64% | -491.61% | |
54 Neutral | C$1.04B | -37.55 | 15.61% | 2.19% | 21.89% | -178.63% | |
52 Neutral | C$273.73M | 0.69 | -3531.06% | ― | -14.24% | ― | |
46 Neutral | C$528.84M | -3.33 | -72.77% | ― | ― | ― | |
40 Underperform | C$7.98M | -0.02 | ― | ― | -15.93% | -329.69% |
* Communication Services Sector Average
TSE:RAY
Stingray Group
15.77
5.61
55.26%
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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.