Stingray Group Inc.

TSX:RAY.A Stock Report

Market Cap: CA$1.2b

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Stingray Group Management

Management criteria checks 4/4

Stingray Group's CEO is Eric Boyko, appointed in Jan 2007, has a tenure of 19.08 years. total yearly compensation is CA$2.24M, comprised of 32% salary and 68% bonuses, including company stock and options. directly owns 3.12% of the company’s shares, worth CA$36.05M. The average tenure of the management team and the board of directors is 7.4 years and 10.8 years respectively.

Key information

Eric Boyko

Chief executive officer

CA$2.2m

Total compensation

CEO salary percentage32.00%
CEO tenure19.1yrs
CEO ownership3.1%
Management average tenure7.4yrs
Board average tenure10.8yrs

Recent management updates

Recent updates

Analysis Article • Feb 05

What Does Stingray Group Inc.'s (TSE:RAY.A) Share Price Indicate?

Stingray Group Inc. ( TSE:RAY.A ), is not the largest company out there, but it saw a significant share price rise of...
Analysis Article • Nov 13

Why Investors Shouldn't Be Surprised By Stingray Group Inc.'s (TSE:RAY.A) 27% Share Price Surge

Stingray Group Inc. ( TSE:RAY.A ) shares have continued their recent momentum with a 27% gain in the last month alone...
New Narrative • Oct 07

FAST Channels And Streaming Partnerships Will Unlock Future Value

Key Takeaways Expansion into streaming, premium ad networks, and strategic partnerships positions Stingray for strong top-line and recurring revenue growth amid industry shifts. New default channel integrations, B2B retail media growth, and targeted acquisitions increase revenue streams, margin potential, and international scalability.
Analysis Article • Jul 31

There Could Be A Chance Stingray Group Inc.'s (TSE:RAY.A) CEO Will Have Their Compensation Increased

Key Insights Stingray Group to hold its Annual General Meeting on 6th of August Total pay for CEO Eric Boyko includes...
Analysis Article • Jun 29

After Leaping 26% Stingray Group Inc. (TSE:RAY.A) Shares Are Not Flying Under The Radar

Stingray Group Inc. ( TSE:RAY.A ) shares have had a really impressive month, gaining 26% after a shaky period...
Analysis Article • May 27

Stingray Group (TSE:RAY.A) Is Paying Out A Dividend Of CA$0.075

Stingray Group Inc. ( TSE:RAY.A ) has announced that it will pay a dividend of CA$0.075 per share on the 13th of June...
Analysis Article • May 09

Stingray Group (TSE:RAY.A) Has Announced A Dividend Of CA$0.075

Stingray Group Inc. ( TSE:RAY.A ) will pay a dividend of CA$0.075 on the 13th of June. This means that the annual...
Analysis Article • Nov 09

Stingray Group (TSE:RAY.A) Has Announced A Dividend Of CA$0.075

The board of Stingray Group Inc. ( TSE:RAY.A ) has announced that it will pay a dividend on the 13th of December, with...
Analysis Article • Aug 10

Stingray Group (TSE:RAY.A) Is Paying Out A Dividend Of CA$0.075

Stingray Group Inc.'s ( TSE:RAY.A ) investors are due to receive a payment of CA$0.075 per share on 13th of September...
Analysis Article • Jun 11

Does Stingray Group (TSE:RAY.A) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • May 21

Stingray Group's (TSE:RAY.A) Dividend Will Be CA$0.075

The board of Stingray Group Inc. ( TSE:RAY.A ) has announced that it will pay a dividend on the 14th of June, with...

CEO Compensation Analysis

How has Eric Boyko's remuneration changed compared to Stingray Group's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025n/an/a

CA$44m

Sep 30 2025n/an/a

CA$52m

Jun 30 2025n/an/a

CA$46m

Mar 31 2025CA$2mCA$717k

CA$36m

Dec 31 2024n/an/a

-CA$18m

Sep 30 2024n/an/a

-CA$24m

Jun 30 2024n/an/a

-CA$21m

Mar 31 2024CA$1mCA$538k

-CA$14m

Dec 31 2023n/an/a

CA$37m

Sep 30 2023n/an/a

CA$41m

Jun 30 2023n/an/a

CA$35m

Mar 31 2023CA$1mCA$523k

CA$30m

Dec 31 2022n/an/a

CA$30m

Sep 30 2022n/an/a

CA$30m

Jun 30 2022n/an/a

CA$38m

Mar 31 2022CA$1mCA$512k

CA$33m

Dec 31 2021n/an/a

CA$41m

Sep 30 2021n/an/a

CA$42m

Jun 30 2021n/an/a

CA$42m

Mar 31 2021CA$1mCA$183k

CA$45m

Dec 31 2020n/an/a

CA$25m

Sep 30 2020n/an/a

CA$19m

Jun 30 2020n/an/a

CA$12m

Mar 31 2020CA$976kCA$488k

CA$14m

Dec 31 2019n/an/a

CA$26m

Sep 30 2019n/an/a

CA$256k

Jun 30 2019n/an/a

-CA$4m

Mar 31 2019CA$1mCA$479k

-CA$12m

Compensation vs Market: Eric's total compensation ($USD1.65M) is about average for companies of similar size in the Canadian market ($USD1.53M).

Compensation vs Earnings: Eric's compensation has been consistent with company performance over the past year.

CEO

Eric Boyko (55 yo)

19.1yrs
Tenure
CA$2,241,921
Compensation

Mr. Eric Boyko, CGA, C.P.A., Co-founded Stingray Group Inc. (formerly known as Stingray Digital Group Inc.) in 2007 and has been its President and Chief Executive Officer since 2010 and also serves as its...

Leadership Team

NamePositionTenureCompensationOwnership
Eric Boyko
Co-Founder19.1yrsCA$2.24m3.12%
CA$ 36.0m
Mario DuBois
Senior VP & CTO19.1yrsCA$762.61k0.27%
CA$ 3.1m
Lloyd Feldman
Senior VP11yrsCA$951.42k0.32%
CA$ 3.7m
Mathieu Peloquin
Senior Vice President of Marketing & Communications13.1yrsCA$762.61k0.15%
CA$ 1.7m
Jean-Pierre Trahan
Chief Financial Officer (Leave of Absence)less than a yearCA$854.27k0.38%
CA$ 4.4m
David Purdy
Chief Revenue Officer7.5yrsCA$762.61k0.77%
CA$ 8.9m
Marie-Helene Fournier
Interim CFOless than a yearno data0.030%
CA$ 347.9k
Rick Bergan
Head of Content Distribution - United States9.5yrsno datano data
Ryan Fuss
Senior Vice-President of Advertising Sales7.3yrsno datano data
Melanie McCool
Senior Vice President of Legal & Strategic Affairs1.3yrsno datano data
James Riley
US Division President of Stingray5.1yrsno datano data
Steve Jones
President of Stingray Radio2.1yrsno datano data
7.4yrs
Average Tenure
55yo
Average Age

Experienced Management: RAY.A's management team is seasoned and experienced (7.4 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Eric Boyko
Co-Founder19.2yrsCA$2.24m3.12%
CA$ 36.0m
Pascal Tremblay
Independent Non-Executive Director18.2yrsCA$143.31k0.57%
CA$ 6.5m
Gary Rich
Independent Non-Executive Director10.8yrsCA$138.15kno data
Ian Lurie
Non-Independent Director1.7yrsCA$84.04k0.038%
CA$ 441.7k
Robert Steele
Independent Non-Executive Director10.8yrsCA$120.29k8.56%
CA$ 99.0m
Mark Pathy
Independent Chairman10.8yrsCA$216.42k8.33%
CA$ 96.3m
Melanie Dunn
Independent Director3.5yrsCA$114.71kno data
Jean Charest
Independent Directorless than a yearno datano data
Claudine Blondin
Independent Non-Executive Director10.8yrsCA$146.14k0.11%
CA$ 1.3m
Karinne Bouchard
Independent Director5yrsCA$129.01kno data
10.8yrs
Average Tenure
56yo
Average Age

Experienced Board: RAY.A's board of directors are seasoned and experienced ( 10.8 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/16 00:12
End of Day Share Price 2026/02/12 00:00
Earnings2025/12/31
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Stingray Group Inc. is covered by 8 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
David McFadgenATB Cormark
Tim CaseyBMO Capital Markets Equity Research
Aravinda GalappatthigeCanaccord Genuity