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STINGRAY GROUP INC (RAY-A.CA) Stock Fundamental Analysis

TSX:RAY-A - Toronto Stock Exchange - CA86084H1001 - Common Stock - Currency: CAD

10  +0.15 (+1.52%)

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to RAY-A. RAY-A was compared to 12 industry peers in the Media industry. While RAY-A has a great profitability rating, there are some minor concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on RAY-A. RAY-A also has an excellent dividend rating. These ratings could make RAY-A a good candidate for value and dividend investing.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

In the past year RAY-A was profitable.
In the past year RAY-A had a positive cash flow from operations.
RAY-A had positive earnings in 4 of the past 5 years.
RAY-A had a positive operating cash flow in each of the past 5 years.
RAY-A.CA Yearly Net Income VS EBIT VS OCF VS FCFRAY-A.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M 40M 60M 80M 100M

1.2 Ratios

The Return On Assets of RAY-A (4.46%) is better than 83.33% of its industry peers.
Looking at the Return On Equity, with a value of 13.66%, RAY-A belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
The Return On Invested Capital of RAY-A (10.20%) is better than 100.00% of its industry peers.
RAY-A had an Average Return On Invested Capital over the past 3 years of 8.88%. This is in line with the industry average of 7.10%.
The 3 year average ROIC (8.88%) for RAY-A is below the current ROIC(10.20%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.46%
ROE 13.66%
ROIC 10.2%
ROA(3y)2.04%
ROA(5y)3.08%
ROE(3y)6.22%
ROE(5y)9.45%
ROIC(3y)8.88%
ROIC(5y)7.97%
RAY-A.CA Yearly ROA, ROE, ROICRAY-A.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 -10 -20 -30

1.3 Margins

Looking at the Profit Margin, with a value of 9.42%, RAY-A belongs to the top of the industry, outperforming 91.67% of the companies in the same industry.
In the last couple of years the Profit Margin of RAY-A has grown nicely.
RAY-A has a better Operating Margin (25.75%) than 100.00% of its industry peers.
In the last couple of years the Operating Margin of RAY-A has remained more or less at the same level.
Industry RankSector Rank
OM 25.75%
PM (TTM) 9.42%
GM N/A
OM growth 3Y3.72%
OM growth 5Y1.04%
PM growth 3Y-7.18%
PM growth 5Y15.64%
GM growth 3YN/A
GM growth 5YN/A
RAY-A.CA Yearly Profit, Operating, Gross MarginsRAY-A.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

5

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so RAY-A is still creating some value.
The number of shares outstanding for RAY-A has been reduced compared to 1 year ago.
Compared to 5 years ago, RAY-A has less shares outstanding
Compared to 1 year ago, RAY-A has an improved debt to assets ratio.
RAY-A.CA Yearly Shares OutstandingRAY-A.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
RAY-A.CA Yearly Total Debt VS Total AssetsRAY-A.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

2.2 Solvency

RAY-A has an Altman-Z score of 1.40. This is a bad value and indicates that RAY-A is not financially healthy and even has some risk of bankruptcy.
RAY-A has a better Altman-Z score (1.40) than 83.33% of its industry peers.
RAY-A has a debt to FCF ratio of 4.00. This is a neutral value as RAY-A would need 4.00 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 4.00, RAY-A is doing good in the industry, outperforming 66.67% of the companies in the same industry.
A Debt/Equity ratio of 1.34 is on the high side and indicates that RAY-A has dependencies on debt financing.
With a Debt to Equity ratio value of 1.34, RAY-A perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.34
Debt/FCF 4
Altman-Z 1.4
ROIC/WACC1.52
WACC6.69%
RAY-A.CA Yearly LT Debt VS Equity VS FCFRAY-A.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100M 200M 300M 400M

2.3 Liquidity

RAY-A has a Current Ratio of 1.00. This is a normal value and indicates that RAY-A is financially healthy and should not expect problems in meeting its short term obligations.
With a decent Current ratio value of 1.00, RAY-A is doing good in the industry, outperforming 75.00% of the companies in the same industry.
A Quick Ratio of 0.98 indicates that RAY-A may have some problems paying its short term obligations.
With a decent Quick ratio value of 0.98, RAY-A is doing good in the industry, outperforming 66.67% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1
Quick Ratio 0.98
RAY-A.CA Yearly Current Assets VS Current LiabilitesRAY-A.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M

5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 28.89% over the past year.
The Earnings Per Share has been growing slightly by 7.84% on average over the past years.
RAY-A shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 12.00%.
RAY-A shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.75% yearly.
EPS 1Y (TTM)28.89%
EPS 3Y9.49%
EPS 5Y7.84%
EPS Q2Q%55%
Revenue 1Y (TTM)12%
Revenue growth 3Y11.03%
Revenue growth 5Y4.75%
Sales Q2Q%7.37%

3.2 Future

RAY-A is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.04% yearly.
Based on estimates for the next years, RAY-A will show a small growth in Revenue. The Revenue will grow by 6.65% on average per year.
EPS Next Y17.22%
EPS Next 2Y8.04%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year8.92%
Revenue Next 2Y6.65%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
RAY-A.CA Yearly Revenue VS EstimatesRAY-A.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M 400M
RAY-A.CA Yearly EPS VS EstimatesRAY-A.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0.2 0.4 0.6 0.8 1

8

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 8.62, which indicates a very decent valuation of RAY-A.
83.33% of the companies in the same industry are more expensive than RAY-A, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of RAY-A to the average of the S&P500 Index (26.84), we can say RAY-A is valued rather cheaply.
The Price/Forward Earnings ratio is 8.16, which indicates a very decent valuation of RAY-A.
91.67% of the companies in the same industry are more expensive than RAY-A, based on the Price/Forward Earnings ratio.
RAY-A is valuated cheaply when we compare the Price/Forward Earnings ratio to 35.29, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 8.62
Fwd PE 8.16
RAY-A.CA Price Earnings VS Forward Price EarningsRAY-A.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, RAY-A is valued a bit cheaper than 66.67% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of RAY-A indicates a somewhat cheap valuation: RAY-A is cheaper than 75.00% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 6.1
EV/EBITDA 6.86
RAY-A.CA Per share dataRAY-A.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 -2 4 -4 6 -6

4.3 Compensation for Growth

RAY-A's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
RAY-A has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.5
PEG (5Y)1.1
EPS Next 2Y8.04%
EPS Next 3YN/A

7

5. Dividend

5.1 Amount

RAY-A has a Yearly Dividend Yield of 3.05%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.05, RAY-A pays a better dividend. On top of this RAY-A pays more dividend than 91.67% of the companies listed in the same industry.
RAY-A's Dividend Yield is a higher than the S&P500 average which is at 2.36.
Industry RankSector Rank
Dividend Yield 3.05%

5.2 History

The dividend of RAY-A has a limited annual growth rate of 1.15%.
RAY-A has paid a dividend for at least 10 years, which is a reliable track record.
RAY-A has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)1.15%
Div Incr Years0
Div Non Decr Years9
RAY-A.CA Yearly Dividends per shareRAY-A.CA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3

5.3 Sustainability

RAY-A pays out 56.22% of its income as dividend. This is a bit on the high side, but may be sustainable.
RAY-A's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP56.22%
EPS Next 2Y8.04%
EPS Next 3YN/A
RAY-A.CA Yearly Income VS Free CF VS DividendRAY-A.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M 40M 60M 80M 100M
RAY-A.CA Dividend Payout.RAY-A.CA Dividend Payout, showing the Payout Ratio.RAY-A.CA Dividend Payout.PayoutRetained Earnings

STINGRAY GROUP INC

TSX:RAY-A (8/15/2025, 7:00:00 PM)

10

+0.15 (+1.52%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)08-05 2025-08-05/amc
Earnings (Next)11-03 2025-11-03
Inst Owners26.15%
Inst Owner ChangeN/A
Ins Owners6.62%
Ins Owner ChangeN/A
Market Cap548.80M
Analysts82.86
Price Target13.39 (33.9%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.05%
Yearly Dividend0.3
Dividend Growth(5Y)1.15%
DP56.22%
Div Incr Years0
Div Non Decr Years9
Ex-Date08-29 2025-08-29 (0.075)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)3.58%
Min EPS beat(2)-1.17%
Max EPS beat(2)8.32%
EPS beat(4)2
Avg EPS beat(4)0.96%
Min EPS beat(4)-8.41%
Max EPS beat(4)8.32%
EPS beat(8)3
Avg EPS beat(8)-1.78%
EPS beat(12)3
Avg EPS beat(12)-5.26%
EPS beat(16)5
Avg EPS beat(16)-5.19%
Revenue beat(2)1
Avg Revenue beat(2)0.56%
Min Revenue beat(2)-1.9%
Max Revenue beat(2)3.01%
Revenue beat(4)3
Avg Revenue beat(4)1.41%
Min Revenue beat(4)-1.9%
Max Revenue beat(4)3.01%
Revenue beat(8)4
Avg Revenue beat(8)-0.39%
Revenue beat(12)5
Avg Revenue beat(12)-1%
Revenue beat(16)5
Avg Revenue beat(16)-1.95%
PT rev (1m)1.29%
PT rev (3m)14.13%
EPS NQ rev (1m)0%
EPS NQ rev (3m)25%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-0.45%
Revenue NQ rev (3m)0.1%
Revenue NY rev (1m)3.41%
Revenue NY rev (3m)3.41%
Valuation
Industry RankSector Rank
PE 8.62
Fwd PE 8.16
P/S 1.42
P/FCF 6.1
P/OCF 5.22
P/B 2.06
P/tB N/A
EV/EBITDA 6.86
EPS(TTM)1.16
EY11.6%
EPS(NY)1.23
Fwd EY12.26%
FCF(TTM)1.64
FCFY16.4%
OCF(TTM)1.91
OCFY19.14%
SpS7.05
BVpS4.86
TBVpS-6.74
PEG (NY)0.5
PEG (5Y)1.1
Profitability
Industry RankSector Rank
ROA 4.46%
ROE 13.66%
ROCE 14.16%
ROIC 10.2%
ROICexc 10.4%
ROICexgc 135.48%
OM 25.75%
PM (TTM) 9.42%
GM N/A
FCFM 23.26%
ROA(3y)2.04%
ROA(5y)3.08%
ROE(3y)6.22%
ROE(5y)9.45%
ROIC(3y)8.88%
ROIC(5y)7.97%
ROICexc(3y)9.05%
ROICexc(5y)8.11%
ROICexgc(3y)130.96%
ROICexgc(5y)121.62%
ROCE(3y)12.34%
ROCE(5y)11.06%
ROICexcg growth 3Y13.47%
ROICexcg growth 5Y19.04%
ROICexc growth 3Y18.66%
ROICexc growth 5Y7.94%
OM growth 3Y3.72%
OM growth 5Y1.04%
PM growth 3Y-7.18%
PM growth 5Y15.64%
GM growth 3YN/A
GM growth 5YN/A
F-Score9
Asset Turnover0.47
Health
Industry RankSector Rank
Debt/Equity 1.34
Debt/FCF 4
Debt/EBITDA 2.73
Cap/Depr 48.97%
Cap/Sales 3.89%
Interest Coverage 4.19
Cash Conversion 80.56%
Profit Quality 246.93%
Current Ratio 1
Quick Ratio 0.98
Altman-Z 1.4
F-Score9
WACC6.69%
ROIC/WACC1.52
Cap/Depr(3y)47.48%
Cap/Depr(5y)45.03%
Cap/Sales(3y)4.24%
Cap/Sales(5y)4.83%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)28.89%
EPS 3Y9.49%
EPS 5Y7.84%
EPS Q2Q%55%
EPS Next Y17.22%
EPS Next 2Y8.04%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)12%
Revenue growth 3Y11.03%
Revenue growth 5Y4.75%
Sales Q2Q%7.37%
Revenue Next Year8.92%
Revenue Next 2Y6.65%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y14.06%
EBIT growth 3Y15.17%
EBIT growth 5Y5.85%
EBIT Next Year49.76%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-13.88%
FCF growth 3Y10.54%
FCF growth 5Y4.05%
OCF growth 1Y-11.38%
OCF growth 3Y7.88%
OCF growth 5Y3.57%