Stingray Group - Public Comps and Valuation Multiples

Stingray Group Overview

About Stingray Group

Stingray Group Inc is a provider of multi-platform music services. It broadcasts music and video content on several platforms, including radio stations, premium television channels, digital TV, satellite TV, IPTV, the Internet, mobile devices, and game consoles. The company's reportable segments are: Broadcasting and commercial music, Radio, and Corporate and eliminations. The maximum revenue is generated from its Broadcasting and commercial music segment, which specializes in the broadcast of music and videos on multiple platforms and digital signage experiences and generates revenues from subscriptions or contracts. Geographically, the company derives its key revenue from Canada and the rest from the United States and other countries.

Founded

2011

HQ

Employees

938

Website

stingray.com

Sectors

Radio Broadcasting
Streaming

Financials

LTM Revenue $294M

LTM EBITDA $107M

EV

$748M

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Stingray Group Financials

As of August 2025, Stingray Group reported last 12-month revenue of $294M and EBITDA of $107M.

In the same period, Stingray Group achieved $40.3M in LTM net income.

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Stingray Group P&L

In the most recent fiscal year, Stingray Group reported revenue of $280M and EBITDA of $73.8M.

Stingray Group expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$294M	XXX	$280M	XXX	XXX	XXX
Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
Gross Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA	$107M	XXX	$73.8M	XXX	XXX	XXX
EBITDA Margin	36%	XXX	26%	XXX	XXX	XXX
EBIT	$75.4M	XXX	$69.9M	XXX	XXX	XXX
EBIT Margin	26%	XXX	25%	XXX	XXX	XXX
Net Profit	$40.3M	XXX	$26.3M	XXX	XXX	XXX
Net Margin	14%	XXX	9%	XXX	XXX	XXX
Net Debt	XXX	XXX	$237M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Stingray Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $294M. EBITDA for the last twelve months was $107M. In the most recent fiscal year, Stingray Group achieved $280M in revenue and $73.8M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$294M	Analyst estimates available to subscribers	$280M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	NaN% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$107M	Analyst estimates available to subscribers	$73.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	36.4% EBITDA margin	Analyst estimates available to subscribers	26.4% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$75.4M	Analyst estimates available to subscribers	$69.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	25.7% EBIT margin	Analyst estimates available to subscribers	25.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$40.3M	Analyst estimates available to subscribers	$26.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	13.7% net profit margin	Analyst estimates available to subscribers	9.4% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$237M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Stingray Group

This financial data table provides comprehensive performance metrics for Stingray Group, a company based in Canada. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Stingray Group generated $294M in revenue over the last twelve months.
The company achieved $107M in EBITDA over the last twelve months.
Net income over the last twelve months reached $40.3M.

Fiscal Year Performance

In the most recent fiscal year, Stingray Group reported $280M in total revenue.
Fiscal year EBITDA was $73.8M.
The company maintained a gross profit margin of NaN% in the most recent fiscal year.
EBITDA margin for the fiscal year was 26.4%.
Net profit margin reached 9.4% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Stingray Group. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Stingray Group Stock Performance

Stingray Group has current market cap of CAD 690M (or $499M), and EV of CAD 1.0B (or $748M).

Market Cap Evolution

Stingray Group Stock Data

As of September 12, 2025, Stingray Group's stock price is CAD 10 (or $7).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$748M	$499M	XXX	XXX	XXX	XXX	$0.86

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Stingray Group Valuation Multiples

Stingray Group's trades at 2.8x EV/Revenue multiple, and 11.3x EV/EBITDA.

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Stingray Group Financial Valuation Multiples

As of September 12, 2025, Stingray Group has market cap of $499M and EV of $748M.

Equity research analysts estimate Stingray Group's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Stingray Group has a P/E ratio of 12.4x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$499M	XXX	$499M	XXX	XXX	XXX
EV (current)	$748M	XXX	$748M	XXX	XXX	XXX
EV/Revenue	2.5x	XXX	2.8x	XXX	XXX	XXX
EV/EBITDA	7.0x	XXX	11.3x	XXX	XXX	XXX
EV/EBIT	9.9x	XXX	10.9x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	12.4x	XXX	28.9x	XXX	XXX	XXX
EV/FCF	12.4x	XXX	11.1x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Stingray Group Margins & Growth Rates

Stingray Group's last 12 month revenue growth is 9%

Stingray Group's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.2M for the same period.

Stingray Group's rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Stingray Group's rule of X is 58% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Stingray Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	9%	XXX	9%	XXX	XXX	XXX
EBITDA Margin	36%	XXX	24%	XXX	XXX	XXX
EBITDA Growth	8%	XXX	33%	XXX	XXX	XXX
Rule of 40	33%	XXX	33%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	58%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.3M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	75%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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