Executive Summary
Stingray Group Inc. operates as a music, media, and technology company worldwide. More Details
Rewards
Risk Analysis
Snowflake Analysis
Moderate growth potential and slightly overvalued.
Similar Companies
Share Price & News
How has Stingray Group's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: RAY.A is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: RAY.A's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
0.3%
RAY.A
0.5%
CA Media
-1.5%
CA Market
1 Year Return
31.4%
RAY.A
3.4%
CA Media
12.7%
CA Market
Return vs Industry: RAY.A exceeded the Canadian Media industry which returned 3.4% over the past year.
Return vs Market: RAY.A exceeded the Canadian Market which returned 12.7% over the past year.
Shareholder returns
| RAY.A | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.3% | 0.5% | -1.5% |
| 30 Day | -4.4% | 3.8% | 2.7% |
| 90 Day | 9.4% | 5.0% | 5.9% |
| 1 Year | 37.1%31.4% | 7.4%3.4% | 16.9%12.7% |
| 3 Year | -22.2%-30.8% | 22.8%10.2% | 23.3%11.5% |
| 5 Year | 20.6%2.9% | 44.4%19.7% | 56.3%32.6% |
Long-Term Price Volatility Vs. Market
How volatile is Stingray Group's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Stingray Group Inc.'s (TSE:RAY.A) P/E Is On The Mark2 weeks ago | Simply Wall St
Should Stingray Group Inc. (TSE:RAY.A) Focus On Improving This Fundamental Metric?1 month ago | Simply Wall St
Read This Before Selling Stingray Group Inc. (TSE:RAY.A) SharesValuation
Is Stingray Group undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: RAY.A (CA$7.11) is trading below our estimate of fair value (CA$16.73)
Significantly Below Fair Value: RAY.A is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: RAY.A is poor value based on its PE Ratio (21.4x) compared to the CA Media industry average (13.9x).
PE vs Market: RAY.A is poor value based on its PE Ratio (21.4x) compared to the Canadian market (16.5x).
Price to Earnings Growth Ratio
PEG Ratio: RAY.A is poor value based on its PEG Ratio (2x)
Price to Book Ratio
PB vs Industry: RAY.A is overvalued based on its PB Ratio (1.8x) compared to the CA Media industry average (1.4x).
Next Steps
Future Growth
How is Stingray Group forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
10.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: RAY.A's forecast earnings growth (10.7% per year) is above the savings rate (1.5%).
Earnings vs Market: RAY.A's earnings (10.7% per year) are forecast to grow slower than the Canadian market (25.6% per year).
High Growth Earnings: RAY.A's earnings are forecast to grow, but not significantly.
Revenue vs Market: RAY.A's revenue (9.3% per year) is forecast to grow faster than the Canadian market (8% per year).
High Growth Revenue: RAY.A's revenue (9.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: RAY.A's Return on Equity is forecast to be high in 3 years time (23%)
Next Steps
Past Performance
How has Stingray Group performed over the past 5 years?
3.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: RAY.A has a large one-off gain of CA$12.2M impacting its December 31 2020 financial results.
Growing Profit Margin: RAY.A's current net profit margins (9.5%) are higher than last year (8.4%).
Past Earnings Growth Analysis
Earnings Trend: RAY.A's earnings have grown by 3.4% per year over the past 5 years.
Accelerating Growth: RAY.A's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: RAY.A had negative earnings growth (-6.6%) over the past year, making it difficult to compare to the Media industry average (8.3%).
Return on Equity
High ROE: RAY.A's Return on Equity (8.6%) is considered low.
Next Steps
Financial Health
How is Stingray Group's financial position?
Financial Position Analysis
Short Term Liabilities: RAY.A's short term assets (CA$91.6M) do not cover its short term liabilities (CA$122.2M).
Long Term Liabilities: RAY.A's short term assets (CA$91.6M) do not cover its long term liabilities (CA$430.3M).
Debt to Equity History and Analysis
Debt Level: RAY.A's debt to equity ratio (115.4%) is considered high.
Reducing Debt: RAY.A's debt to equity ratio has increased from 40.9% to 115.4% over the past 5 years.
Debt Coverage: RAY.A's debt is well covered by operating cash flow (28.4%).
Interest Coverage: RAY.A's interest payments on its debt are well covered by EBIT (3.2x coverage).
Balance Sheet
Next Steps
Dividend
What is Stingray Group current dividend yield, its reliability and sustainability?
4.22%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: RAY.A's dividend (4.22%) is higher than the bottom 25% of dividend payers in the Canadian market (1.6%).
High Dividend: RAY.A's dividend (4.22%) is low compared to the top 25% of dividend payers in the Canadian market (4.99%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, RAY.A has been paying a dividend for less than 10 years.
Growing Dividend: RAY.A's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (90.2%), RAY.A's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: RAY.A's dividends in 3 years are forecast to be well covered by earnings (30.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.0yrs
Average management tenure
CEO
Eric Boyko (50 yo)
14.08yrs
Tenure
CA$976,000
Compensation
Mr. Eric Boyko, CGA, CPA, Co-founded Stingray Group Inc. (formerly known as Stingray Digital Group Inc.) (alternatively Stingray Digital Inc.) in 2007 and has been its President and Chief Executive Officer...
CEO Compensation Analysis
Compensation vs Market: Eric's total compensation ($USD768.49K) is about average for companies of similar size in the Canadian market ($USD742.01K).
Compensation vs Earnings: Eric's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder | 14.08yrs | CA$976.00k | 1.66% CA$ 8.6m | |
| Chief Financial Officer | 10.08yrs | CA$574.29k | 0.20% CA$ 1.1m | |
| Senior VP & CTO | 14.08yrs | CA$543.47k | 0.37% CA$ 1.9m | |
| Senior VP | 6yrs | CA$698.98k | 0.25% CA$ 1.3m | |
| General Manager of Chatter | no data | CA$1.65m | no data | |
| Senior Vice President of Marketing & Communications | 8.08yrs | CA$606.99k | 0.13% CA$ 662.9k | |
| Vice President of Human Resources | 5.08yrs | no data | 0.0036% CA$ 18.8k | |
| Head of Content Distribution - United States | 4.5yrs | no data | no data | |
| Chief Revenue Officer | 2.5yrs | CA$1.03m | 0.36% CA$ 1.9m | |
| Senior Vice-President of Advertising Sales | 2.33yrs | no data | no data | |
| President of Radio Operations | no data | CA$1.61m | 0.0021% CA$ 10.7k |
6.0yrs
Average Tenure
Experienced Management: RAY.A's management team is seasoned and experienced (6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Co-Founder | 14.08yrs | CA$976.00k | 1.66% CA$ 8.6m | |
| Independent Non-Executive Director | 13.17yrs | CA$80.00k | 0.25% CA$ 1.3m | |
| Independent Non-Executive Director | 5.83yrs | CA$53.71k | 7.91% CA$ 40.9m | |
| Independent Lead Director | no data | CA$79.49k | no data | |
| Independent Chairman | no data | CA$109.06k | 5.38% CA$ 27.8m | |
| Independent Non-Executive Director | 13.83yrs | no data | 0.033% CA$ 170.6k | |
| Independent Non-Executive Director | 0.50yr | no data | no data | |
| Independent Non-Executive Director | 5.83yrs | CA$70.56k | 0.10% CA$ 534.5k | |
| Independent Non-Executive Director | 5.83yrs | CA$64.35k | no data | |
| Director | no data | no data | no data |
5.8yrs
Average Tenure
51yo
Average Age
Experienced Board: RAY.A's board of directors are considered experienced (5.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Stingray Group Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Stingray Group Inc.
- Ticker: RAY.A
- Exchange: TSX
- Founded: NaN
- Industry: Broadcasting
- Sector: Media
- Market Cap: CA$516.533m
- Shares outstanding: 72.68m
- Website: https://www.stingray.com
Number of Employees
Location
- Stingray Group Inc.
- 730 Wellington Street
- 8th Floor
- Montreal
- Quebec
- H3C 1T4
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| RAY.B | TSX (The Toronto Stock Exchange) | Variable Subordinate Voting Shares | CA | CAD | Jun 2015 | |
| RAY.A | TSX (The Toronto Stock Exchange) | Yes | Subordinate Voting Shares | CA | CAD | Jun 2015 |
| 317A | DB (Deutsche Boerse AG) | Yes | Subordinate Voting Shares | DE | EUR | Jun 2015 |
| 317V | BST (Boerse-Stuttgart) | Variable Subordinate Voting Shares | DE | EUR | Jun 2015 | |
| STGY.F | OTCPK (Pink Sheets LLC) | Yes | Subordinate Voting Shares | US | USD | Jun 2015 |
Biography
Stingray Group Inc. operates as a music, media, and technology company worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), web, and mobile; Stingray...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/01 00:54 |
| End of Day Share Price | 2021/02/26 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/03/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.