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Stingray Group

TSX:RAY.B
Snowflake Description

Reasonable growth potential and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RAY.B
TSX
CA$531M
Market Cap
  1. Home
  2. CA
  3. Media
Company description

Stingray Group Inc. provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The last earnings update was 11 days ago. More info.


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RAY.B Share Price and Events
7 Day Returns
2.6%
TSX:RAY.B
4%
CA Media
0.6%
CA Market
1 Year Returns
-14.9%
TSX:RAY.B
21%
CA Media
7.2%
CA Market
RAY.B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Stingray Group (RAY.B) 2.6% 0.7% -14.4% -14.9% -20.6% -
CA Media 4% 5.6% 8.7% 21% 21.3% 1.7%
CA Market 0.6% 3% 4.5% 7.2% 7.8% 8.2%
1 Year Return vs Industry and Market
  • RAY.B underperformed the Media industry which returned 21% over the past year.
  • RAY.B underperformed the Market in Canada which returned 7.2% over the past year.
Price Volatility
RAY.B
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Stingray Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Stingray Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Stingray Group.

TSX:RAY.B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:RAY.B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Media Unlevered Beta Simply Wall St/ S&P Global 0.77
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.769 (1 + (1- 26.5%) (74.43%))
1.127
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.127 * 5.96%)
8.66%

Discounted Cash Flow Calculation for TSX:RAY.B using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Stingray Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:RAY.B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 8.66%)
2020 76.11 Analyst x7 70.04
2021 78.85 Analyst x6 66.78
2022 86.00 Analyst x1 67.02
2023 91.31 Est @ 6.17% 65.49
2024 95.79 Est @ 4.91% 63.22
2025 99.64 Est @ 4.02% 60.52
2026 103.02 Est @ 3.4% 57.59
2027 106.08 Est @ 2.96% 54.56
2028 108.90 Est @ 2.66% 51.55
2029 111.56 Est @ 2.44% 48.60
Present value of next 10 years cash flows CA$605.00
TSX:RAY.B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$111.56 × (1 + 1.95%) ÷ (8.66% – 1.95%)
CA$1,693.00
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$1,693.00 ÷ (1 + 8.66%)10
CA$737.53
TSX:RAY.B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$605.00 + CA$737.53
CA$1,342.53
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$1,342.53 / 76.05
CA$17.65
TSX:RAY.B Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in TSX:RAY.B represents 0.96705x of TSX:RAY.A
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.96705x
Value per Share
(Listing Adjusted, CAD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 17.65 x 0.96705
CA$17.07
Value per share (CAD) From above. CA$17.07
Current discount Discount to share price of CA$6.75
= -1 x (CA$6.75 - CA$17.07) / CA$17.07
60.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Stingray Group is available for.
Intrinsic value
>50%
Share price is CA$6.75 vs Future cash flow value of CA$17.07
Current Discount Checks
For Stingray Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Stingray Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Stingray Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Stingray Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Stingray Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:RAY.B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CAD CA$0.00
TSX:RAY.A Share Price ** TSX (2019-11-14) in CAD CA$6.98
Canada Media Industry PE Ratio Median Figure of 11 Publicly-Listed Media Companies 16.34x
Canada Market PE Ratio Median Figure of 514 Publicly-Listed Companies 14.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Stingray Group.

TSX:RAY.B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:RAY.A Share Price ÷ EPS (both in CAD)

= 6.98 ÷ 0.00

2037.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Stingray Group is overvalued based on earnings compared to the CA Media industry average.
  • Stingray Group is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Stingray Group's expected growth come at a high price?
Raw Data
TSX:RAY.B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2037.36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
42.7%per year
Canada Media Industry PEG Ratio Median Figure of 5 Publicly-Listed Media Companies 21.38x
Canada Market PEG Ratio Median Figure of 236 Publicly-Listed Companies 1.01x

*Line of best fit is calculated by linear regression .

TSX:RAY.B PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 2037.36x ÷ 42.7%

47.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Stingray Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Stingray Group's assets?
Raw Data
TSX:RAY.B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CAD CA$3.86
TSX:RAY.A Share Price * TSX (2019-11-14) in CAD CA$6.98
Canada Media Industry PB Ratio Median Figure of 18 Publicly-Listed Media Companies 0.71x
Canada Market PB Ratio Median Figure of 2,290 Publicly-Listed Companies 1.29x
TSX:RAY.B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:RAY.A Share Price ÷ Book Value per Share (both in CAD)

= 6.98 ÷ 3.86

1.81x

* Primary Listing of Stingray Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Stingray Group is overvalued based on assets compared to the CA Media industry average.
X
Value checks
We assess Stingray Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Media industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Media industry average (and greater than 0)? (1 check)
  5. Stingray Group has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Stingray Group expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
42.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Stingray Group expected to grow at an attractive rate?
  • Stingray Group's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Stingray Group's earnings growth is expected to exceed the Canada market average.
  • Stingray Group's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:RAY.B Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:RAY.B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 42.7%
TSX:RAY.B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 3%
Canada Media Industry Earnings Growth Rate Market Cap Weighted Average 4.7%
Canada Media Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
Canada Market Earnings Growth Rate Market Cap Weighted Average 9.7%
Canada Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:RAY.B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:RAY.B Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31 331 99 49 1
2021-03-31 327 90 43 8
2020-03-31 318 90 35 8
2019-11-17
TSX:RAY.B Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-09-30 301 67 0
2019-06-30 259 54 -4
2019-03-31 213 35 -12
2018-12-31 174 33 -11
2018-09-30 138 30 8
2018-06-30 135 27 3
2018-03-31 130 19 2
2017-12-31 122 20 2
2017-09-30 113 19 4
2017-06-30 107 19 9
2017-03-31 102 23 11
2016-12-31 101 20 9

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Stingray Group's earnings are expected to grow significantly at over 20% yearly.
  • Stingray Group's revenue is expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:RAY.B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Stingray Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:RAY.B Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31
2021-03-31 0.56 0.58 0.54 2.00
2020-03-31 0.45 0.46 0.44 2.00
2019-11-17
TSX:RAY.B Past Financials Data
Date (Data in CAD Millions) EPS *
2019-09-30 0.00
2019-06-30 -0.06
2019-03-31 -0.19
2018-12-31 -0.19
2018-09-30 0.13
2018-06-30 0.06
2018-03-31 0.04
2017-12-31 0.04
2017-09-30 0.08
2017-06-30 0.17
2017-03-31 0.21
2016-12-31 0.18

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Stingray Group is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Stingray Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Stingray Group has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Stingray Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Stingray Group's growth in the last year to its industry (Media).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Stingray Group's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Stingray Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Stingray Group's 1-year earnings growth is negative, it can't be compared to the CA Media industry average.
Earnings and Revenue History
Stingray Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Stingray Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:RAY.B Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 300.51 0.26
2019-06-30 258.63 -4.15
2019-03-31 212.65 -11.99
2018-12-31 174.14 -11.26
2018-09-30 138.47 7.53 -21.84 -6.06
2018-06-30 135.00 3.36 -8.60 -2.98
2018-03-31 130.21 2.30
2017-12-31 122.49 2.23 9.50 2.32
2017-09-30 113.32 4.15 38.95 10.48
2017-06-30 106.62 8.95 33.11 9.59
2017-03-31 101.50 10.72 31.00 8.96
2016-12-31 100.66 9.36 28.91 8.89
2016-09-30 97.82 9.87 27.36 8.73
2016-06-30 94.60 17.70 25.05 8.24
2016-03-31 89.94 13.88 22.99 7.61
2015-12-31 83.93 12.56 20.12 6.95
2015-09-30 79.37 10.89 18.28 6.54
2015-06-30 75.25 3.81 17.34 6.28
2015-03-31 70.99 6.61 17.87 5.97
2014-03-31 60.02 8.69 13.53 4.91
2013-03-31 48.91 5.64 10.92 4.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Stingray Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Stingray Group used its assets less efficiently than the CA Media industry average last year based on Return on Assets.
  • Stingray Group has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Stingray Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Media industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Stingray Group has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Stingray Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Stingray Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Stingray Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Stingray Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Stingray Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Stingray Group Company Filings, last reported 1 month ago.

TSX:RAY.B Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 293.86 362.13 8.38
2019-06-30 295.50 353.72 6.62
2019-03-31 287.54 362.49 4.67
2018-12-31 294.62 364.06 5.11
2018-09-30 123.05 57.33 2.17
2018-06-30 128.49 47.88 4.32
2018-03-31 129.61 38.63 3.36
2017-12-31 128.55 26.63 4.52
2017-09-30 85.91 67.43 2.19
2017-06-30 93.33 58.12 3.15
2017-03-31 94.95 41.04 5.86
2016-12-31 91.44 46.28 3.00
2016-09-30 92.83 41.13 2.62
2016-06-30 91.89 40.51 3.23
2016-03-31 90.39 35.04 3.20
2015-12-31 89.41 36.59 2.45
2015-09-30 87.32 19.21 1.48
2015-06-30 78.93 7.44 1.05
2015-03-31 -17.84 108.85 1.31
2014-03-31 -5.22 72.58
2013-03-31
  • Stingray Group's level of debt (123.2%) compared to net worth is high (greater than 40%).
  • Stingray Group had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
  • Debt is not well covered by operating cash flow (18.6%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Stingray Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Stingray Group has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.01%
Current annual income from Stingray Group dividends. Estimated to be 4.22% next year.
If you bought CA$2,000 of Stingray Group shares you are expected to receive CA$80 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Stingray Group's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2%).
  • Stingray Group's dividend is below the markets top 25% of dividend payers in Canada (5.68%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:RAY.B Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Canada Media Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.1%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:RAY.B Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31 0.31 1.00
2021-03-31 0.30 3.00
2020-03-31 0.28 3.00
2019-11-17
TSX:RAY.B Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-08-06 0.280 3.919
2019-03-28 0.260 4.050
2019-02-06 0.260 3.711
2018-08-08 0.240 3.115
2018-03-29 0.220 2.397
2018-02-08 0.220 2.156
2017-11-09 0.200 2.073
2017-08-02 0.200 2.207
2017-04-28 0.180 2.310
2017-02-02 0.180 2.112
2016-11-10 0.160 1.871
2016-08-03 0.160 2.120
2016-03-24 0.140 1.968
2016-02-04 0.140 1.993
2015-08-12 0.120 1.753

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Stingray Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Stingray Group only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Stingray Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess Stingray Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Stingray Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Stingray Group has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Stingray Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Eric Boyko
COMPENSATION CA$1,248,831
AGE 49
TENURE AS CEO 12.8 years
CEO Bio

Mr. Eric Boyko, CGA, CPA, Co-founded Stingray Digital Group Inc. (alternatively Stingray Digital Inc.) in 2007 and has been its President and Chief Executive Officer since 2010. Mr. Boyko Co-Founded Stingray Digital at Telesystem Media, Inc in 2007 and serves as its President of Stingray Digital. He serves as the President of Stingray360. He Co-founded eFundraising.com Corporation (formerly, Universal Fundraising Group) in 1991 and served as its President. In April 2000, he led the venture capital financing and sale of eFundraising.com to ZapMe!, Corp. for $27 million. He served at KPMG from 1990 to 1992. He has been a Director of Stingray Digital Group Inc. since December 20, 2006 and Alimentation Couche-Tard Inc. since September 19, 2017. He serves on the board of directors of Bouclair Inc. and Attraction Média Inc. Mr. Boyko is a global entrepreneur who has nearly two decades of experience with start-ups and extensive expertise in early stage business innovations. Mr. Boyko served as a Director of Business Development Bank of Canada from August 29, 2007 to February 10, 2016. He served as a Director of Redex, Inc. Mr. Boyko was named one of Canada’s Top 40 Under 40 in 2006. Mr. Boyko’s passion for extreme sports and world travel fuels his drive for business excellence. He is a Board Member of the Montreal Development Program, the Young President' Organization and the Montréal Economic Institute. He is an active participant in many philanthropic endeavours, and is a Member of the Montréal Canadiens Children’s Foundation’s board of directors. He is President of the Quebec chapter of YPO and YEO. He is a Certified General Accountant in 1997. Mr. Boyko holds Bachelor of Commerce, with a specialization in Accounting and Entrepreneurship from McGill University.

CEO Compensation
  • Eric's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Eric's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure of the Stingray Group management team in years:

4.8
Average Tenure
  • The tenure for the Stingray Group management team is about average.
Management Team

Eric Boyko

TITLE
Co-Founder
COMPENSATION
CA$1M
AGE
49
TENURE
12.8 yrs

Jean-Pierre Trahan

TITLE
Chief Financial Officer
COMPENSATION
CA$621K
TENURE
8.8 yrs

Lloyd Feldman

TITLE
Senior VP
COMPENSATION
CA$813K
TENURE
4.8 yrs

David Purdy

TITLE
Chief Revenue Officer
COMPENSATION
CA$1M
AGE
53
TENURE
1.3 yrs

Ian Lurie

TITLE
President of Radio Operations
COMPENSATION
CA$2M

Mario DuBois

TITLE
Senior VP & CTO
COMPENSATION
CA$607K
TENURE
12.8 yrs

Mathieu Péloquin

TITLE
Senior Vice President of Marketing & Communications
COMPENSATION
CA$607K
TENURE
6.8 yrs

Sébastien Côté

TITLE
Vice President of Human Resources
TENURE
3.8 yrs

Rick Bergan

TITLE
Head of Content Distribution - United States
TENURE
3.3 yrs

Ryan Fuss

TITLE
Senior Vice-President of Advertising Sales
TENURE
1.1 yrs
Board of Directors Tenure

Average tenure and age of the Stingray Group board of directors in years:

4.6
Average Tenure
50
Average Age
  • The tenure for the Stingray Group board of directors is about average.
Board of Directors

Mark Pathy

TITLE
Independent Chairman
COMPENSATION
CA$98K
AGE
49

Eric Boyko

TITLE
Co-Founder
COMPENSATION
CA$1M
AGE
49
TENURE
12.9 yrs

Pascal Tremblay

TITLE
Independent Non-Executive Director
COMPENSATION
CA$75K
AGE
50
TENURE
11.9 yrs

Jacques Parisien

TITLE
Lead Director
COMPENSATION
CA$70K
AGE
67

Gary Rich

TITLE
Independent Non-Executive Director
COMPENSATION
CA$60K
AGE
58
TENURE
4.6 yrs

François-Charles Sirois

TITLE
Independent Non-Executive Director
AGE
44
TENURE
12.6 yrs

Claudine Blondin

TITLE
Independent Non-Executive Director
COMPENSATION
CA$66K
AGE
50
TENURE
4.6 yrs

Rob Steele

TITLE
Independent Non-Executive Director
COMPENSATION
CA$54K
AGE
58
TENURE
4.6 yrs

John Steele

TITLE
Independent Director
COMPENSATION
CA$2K
AGE
54
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
X
Management checks
We assess Stingray Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Stingray Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Stingray Group Inc. provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Ambiance 4K, a genre of live and continuous television coverage of an ordinary event in its complete length; 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 iConcert, a source for various live concerts; 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; and Stingray Brava, a TV channel dedicated to classical music, opera, and ballet. In addition, the company offers karaoke services comprising The Voice, Yokee Piano, Stingray Kids’ Karaoke, and Yokee apps, as well as Stingray Karaoke, a video on demand and TV app. Further, it provides music videos TV channels that include Stingray CMusic, PalmarèsADISQ, Stingray Hits, Stingray Vibe, Stingray Loud, Stingray Retro, Stingray Lite TV, 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 TV, satellite TV, IPTV, the Internet, mobile devices, Wi-Fi systems, game consoles, and connected cars. 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 incorporated in 2006 and is headquartered in Montreal, Canada.

Details
Name: Stingray Group Inc.
RAY.B
Exchange: TSX
Founded: 2006
CA$530,648,455
76,045,094
Website: http://www.stingray.com
Address: Stingray Group Inc.
730 Wellington,
8th Floor,
Montreal,
Quebec, H3C 1T4,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX RAY.A Subordinate Voting Shares The Toronto Stock Exchange CA CAD 03. Jun 2015
DB 317A Subordinate Voting Shares Deutsche Boerse AG DE EUR 03. Jun 2015
TSX RAY.B Variable Subordinate Voting Shares The Toronto Stock Exchange CA CAD 03. Jun 2015
Number of employees
Current staff
Staff numbers
1,200
Stingray Group employees.
Industry
Broadcasting
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/17 00:37
End of day share price update: 2019/11/14 00:00
Last estimates confirmation: 2019/11/14
Last earnings filing: 2019/11/06
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.