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RAY.

Stingray Group TSX:RAY.B Stock Report

Last Price

CA$6.11

Market Cap

CA$425.2m

7D

-8.8%

1Y

-14.5%

Updated

11 May, 2022

Data

Company Financials +
RAY.B fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance4/6
Financial Health2/6
Dividends3/6

RAY.B Stock Overview

Stingray Group Inc. operates as a music, media, and technology company worldwide.

Stingray Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Stingray Group
Historical stock prices
Current Share PriceCA$6.11
52 Week HighCA$8.46
52 Week LowCA$6.11
Beta0.94
1 Month Change-11.58%
3 Month Change-20.13%
1 Year Change-14.55%
3 Year Change-0.97%
5 Year Change-21.36%
Change since IPO-18.32%

Recent News & Updates

Shareholder Returns

RAY.BCA MediaCA Market
7D-8.8%-6.1%-4.7%
1Y-14.5%-10.4%3.8%

Return vs Industry: RAY.B underperformed the Canadian Media industry which returned -10.4% over the past year.

Return vs Market: RAY.B underperformed the Canadian Market which returned 3.8% over the past year.

Price Volatility

Is RAY.B's price volatile compared to industry and market?
RAY.B volatility
RAY.B Average Weekly Movement4.5%
Media Industry Average Movement4.5%
Market Average Movement9.4%
10% most volatile stocks in CA Market15.9%
10% least volatile stocks in CA Market4.0%

Stable Share Price: RAY.B is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: RAY.B's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20071,000Eric Boykohttps://www.stingray.com

Stingray 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.

Stingray Group Fundamentals Summary

How do Stingray Group's earnings and revenue compare to its market cap?
RAY.B fundamental statistics
Market CapCA$425.22m
Earnings (TTM)CA$40.90m
Revenue (TTM)CA$272.59m

10.4x

P/E Ratio

1.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
RAY.B income statement (TTM)
RevenueCA$272.59m
Cost of RevenueCA$162.16m
Gross ProfitCA$110.43m
Other ExpensesCA$69.53m
EarningsCA$40.90m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.58
Gross Margin40.51%
Net Profit Margin15.00%
Debt/Equity Ratio122.5%

How did RAY.B perform over the long term?

See historical performance and comparison

Dividends

4.9%

Current Dividend Yield

53%

Payout Ratio

Does RAY.B pay a reliable dividends?

See RAY.B dividend history and benchmarks
When do you need to buy RAY.B by to receive an upcoming dividend?
Stingray Group dividend dates
Ex Dividend DateMay 30 2022
Dividend Pay DateJun 15 2022
Days until Ex dividend18 days
Days until Dividend pay date34 days

Does RAY.B pay a reliable dividends?

See RAY.B dividend history and benchmarks

Valuation

Is Stingray Group undervalued compared to its fair value and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: RAY.B (CA$6.11) is trading below our estimate of fair value (CA$21.53)

Significantly Below Fair Value: RAY.B is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: RAY.B is good value based on its PE Ratio (10.4x) compared to the Canadian Media industry average (10.6x).

PE vs Market: RAY.B is good value based on its PE Ratio (10.4x) compared to the Canadian market (11.2x).


Price to Earnings Growth Ratio

PEG Ratio: RAY.B is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: RAY.B is overvalued based on its PB Ratio (1.5x) compared to the CA Media industry average (1.3x).


Future Growth

How is Stingray Group forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


18.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: RAY.B's forecast earnings growth (18.6% per year) is above the savings rate (1.6%).

Earnings vs Market: RAY.B's earnings (18.6% per year) are forecast to grow faster than the Canadian market (8.2% per year).

High Growth Earnings: RAY.B's earnings are forecast to grow, but not significantly.

Revenue vs Market: RAY.B's revenue (13.6% per year) is forecast to grow faster than the Canadian market (6.5% per year).

High Growth Revenue: RAY.B's revenue (13.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if RAY.B's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Stingray Group performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


48.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: RAY.B has a large one-off loss of CA$16.7M impacting its December 31 2021 financial results.

Growing Profit Margin: RAY.B's current net profit margins (15%) are higher than last year (9.5%).


Past Earnings Growth Analysis

Earnings Trend: RAY.B's earnings have grown significantly by 48.1% per year over the past 5 years.

Accelerating Growth: RAY.B's earnings growth over the past year (66.7%) exceeds its 5-year average (48.1% per year).

Earnings vs Industry: RAY.B earnings growth over the past year (66.7%) exceeded the Media industry 0.8%.


Return on Equity

High ROE: RAY.B's Return on Equity (14.6%) is considered low.


Financial Health

How is Stingray Group's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: RAY.B's short term assets (CA$104.5M) do not cover its short term liabilities (CA$149.9M).

Long Term Liabilities: RAY.B's short term assets (CA$104.5M) do not cover its long term liabilities (CA$463.4M).


Debt to Equity History and Analysis

Debt Level: RAY.B's net debt to equity ratio (118.5%) is considered high.

Reducing Debt: RAY.B's debt to equity ratio has increased from 50.5% to 122.5% over the past 5 years.

Debt Coverage: RAY.B's debt is well covered by operating cash flow (25.1%).

Interest Coverage: RAY.B's interest payments on its debt are well covered by EBIT (4.8x coverage).


Balance Sheet


Dividend

What is Stingray Group current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


4.94%

Current Dividend Yield

Upcoming Dividend Payment

TodayMay 11 2022Ex Dividend DateMay 30 2022Dividend Pay DateJun 15 202216 days from Ex DividendBuy in the next 18 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: RAY.B's dividend (4.94%) is higher than the bottom 25% of dividend payers in the Canadian market (1.9%).

High Dividend: RAY.B's dividend (4.94%) is low compared to the top 25% of dividend payers in the Canadian market (5.03%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, RAY.B has been paying a dividend for less than 10 years.

Growing Dividend: RAY.B's dividend payments have increased, but the company has only paid a dividend for 7 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (52.5%), RAY.B's dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (30.5%), RAY.B's dividend payments are well covered by cash flows.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.3yrs

Average management tenure


CEO

Eric Boyko (51 yo)

15.33yrs

Tenure

CA$1,340,667

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. Mr. Boyko Co-Founded S...


CEO Compensation Analysis

Compensation vs Market: Eric's total compensation ($USD1.04M) is about average for companies of similar size in the Canadian market ($USD960.56K).

Compensation vs Earnings: Eric's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: RAY.B's management team is seasoned and experienced (7.3 years average tenure).


Board Members

Experienced Board: RAY.B's board of directors are considered experienced (7.1 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.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Stingray Group Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Stingray Group Inc.
  • Ticker: RAY.B
  • Exchange: TSX
  • Founded: 2007
  • Industry: Broadcasting
  • Sector: Media
  • Implied Market Cap: CA$425.222m
  • Shares outstanding: 70.05m
  • Website: https://www.stingray.com

Number of Employees


Location

  • Stingray Group Inc.
  • 730 Wellington Street
  • Montreal
  • Quebec
  • H3C 1T4
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/11 00:00
End of Day Share Price2022/05/11 00:00
Earnings2021/12/31
Annual Earnings2021/03/31


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.