Added to YB: 2026-06-24
Pitch date: 2026-06-22
RAY.TO [bullish]
Stingray Group Inc.
Author Info
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Company Info
Stingray Group Inc. operates as a music, media, and technology company in Canada, the United States, and internationally.
Market Cap
CAD 1.0B
Pitch Price
N/A
Price Target
N/A
Dividend
2.21%
EV/EBITDA
12.01
P/E
-36.67
EV/Sales
3.34
Sector
Media
Category
value
Stingray Group: A Capital-Light Compounder Hiding Behind a Shrinking Radio Business
RAY.TO: Montreal capital-light media compounder owning music library sold 3 ways (subs/ads/equipment); 5x rev growth/decade w/ steady 34-38% margins, 100%+ FCF conversion. Mispriced as radio decliner; trades 6.7x forward FCF, ~15% yield. Reverse-DCF implies just 2% growth vs ~16% delivered. Programmatic ramp ($275M run-rate from zero) + cheap TuneIn deal (6.4x EBITDA) drive ~60% FY27 FCF growth. Founder owns 21%/57% votes. PT $20+ deemed conservative. Risks: backfill inventory owned by TV-makers (Walmart/Samsung), radio drag (-7.5% Q4 vs -3% guide), capital allocation.
Read full article (32 min)