Blue Ant Media Corporation BAMI

Communication ServicesMedia & PublishingCanada

Last close 5.91 CAD on Nov 2, 2026, −25.0% year to date

Quant rating

Quant rating D Rank 11 of 12 in Communication Services

Growth D 11 of 12
Valuation D 10 of 12
Quality D 10 of 12
Revisions D 10 of 12
Momentum D 10 of 12

Wall Street consensus Buy (2.00)Average target 14.25 CAD +141.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 165M
Enterprise value: 165M
52-week range: 4.75 – 9.15
3-year range: 4.75 – 17.90
Dividend yield: –
Beta (5 years): −0.26
Shares outstanding: 27.9M
Next earnings: Oct 15, 2026

About the company

Blue Ant Media Corporation is a Canada-based international streamer, production studio, and rights-management business. The Company operates a diverse portfolio of free streaming and pay TV channels internationally, including Love Nature, Cottage Life, Smithsonian Channel Canada, BBC Earth Canada, HauntTV, Homeful, and Love Pets, as well as the global SVOD service MagellanTV. Its studio business produces and distributes a wide range of premium content across key genres for streaming and broadcast platforms worldwide. MagellanTV is a digital streaming company that delivers factual content to consumers across the globe. MagellanTV is a Subscription Video on Demand (SVOD) platform, as well as Advertising-based Video on Demand (AVOD) and Free Ad-Supported Streaming Television (FAST) channels, broadening the Company’s reach and monetization across multiple distribution windows. It has a presence across Los Angeles, New York, Miami, Singapore, London, Washington, Sydney, Halifax and Ottawa.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	204	193	446	304	580	–
Revenue growth	5.4%	−56.6%	46.7%	−47.6%	155.9%	−2.1%
EPS (basic, normalized)	–	–	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	42.7%	29.2%	19.4%	40.3%	17.7%	29.9%
Net margin	6.6%	−37.5%	−5.7%	−2.5%	−3.6%	−8.5%
ROE	–	−38.8%	−11.7%	−3.2%	−15.5%	−17.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	59.9
Current ratio	1.06x
Long-term debt (mil)	34.2
Net debt (mil)	0
Total equity (mil)	299
Net debt / equity	0.00x
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	204	+5.4%	0.8x	–	–	–	–	–	–
2026	431	+111.5%	0.4x	46.6	–	3.5x	−0.07	–	−90.9x
2027	552	+28.0%	0.3x	63.4	+35.9%	2.6x	0.77	+1,284.6%	7.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	431	0.0%	0.0%	+0.6%	−0.07	0.0%	0.0%	−143.3%
2027	552	0.0%	0.0%	+3.8%	0.77	0.0%	0.0%	−3.8%
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	Nov 2025	Feb 2026	May 2026
Sales reported (mil)	–	–	–	–	–	–	–	80.5	70.0	126
Sales mean (mil)	–	–	–	–	–	–	–	–	72.5	123
Surprise	–	–	–	–	–	–	–	–	−3.5%	+2.2%
EPS reported	–	–	–	–	–	–	–	−0.13	−0.35	−0.68
EPS mean	–	–	–	–	–	–	–	–	0.00	0.00
Surprise	–	–	–	–	–	–	–	–	–	–

Peer comparison Media & Publishing

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
BAMI Blue Ant Media Corporation	165M	–	6.6%	2.03x	−90.9x	7.7x	3.5x	2.6x
IMAX IMAX Corporation	3.8B	1.17x	8.5%	7.67x	22.4x	22.3x	12.5x	12.2x
ANGX Angel Studios, Inc.	904M	−0.19x	−53.0%	−22.14x	−9.3x	−15.3x	−27.5x	538.2x
RSVR Reservoir Media Inc	893M	6.10x	4.7%	1.69x	77.4x	64.5x	14.0x	12.9x
WILD WildBrain Ltd.	287M	–	−30.5%	1.08x	81.0x	18.0x	8.9x	6.8x
CNVS Cineverse Corp	59M	−6.72x	−14.0%	0.92x	−7.7x	4.1x	5.2x	2.5x
Mean		0.09x	−12.9%	−1.46x	12.1x	16.9x	2.8x	95.9x
Median		0.49x	−4.6%	1.38x	7.3x	12.8x	7.1x	9.5x

Technical analysis

1M+2.4%
3M+13.7%
1Y−29.7%
3Y−66.0%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, Blue Ant Media Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	204	193	446	304	580	227
Cost of revenue	117	137	360	182	478	152
Gross profit	87.2	56.5	86.6	122	103	75.0
Selling, general & administrative expenses	60.5	58.5	71.5	92.6	90.7	70.8
Research & development	–	–	–	–	–	–
Depreciation/amortization	6.3	7.6	8.8	19.8	18.6	18.6
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	24.1	51.4	15.2	0	−2.3	13.3
Other operating expenses	0	0.1	0	−6.5	−3.3	−2.3
Operating income	−3.8	−61.0	−8.8	16.6	−0.9	−25.4
Net interest income (expense)	31.6	−10.5	−8.3	−9.4	−5.1	−18.1
Gain (loss) on sale of assets	0	–	–	–	0	1.4
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	27.8	−71.6	−17.1	7.3	−5.9	−42.1
Provision for taxes	13.5	−0.8	7.1	5.5	6.2	1.9
Minority interest	−0.8	−1.8	−1.3	−9.3	−8.6	−4.8
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	13.5	−72.6	−25.5	−7.5	−20.7	−48.7
Extraordinary items	0	52.1	−6.6	–	–	–
Net income	13.5	−20.4	−32.1	−7.5	−20.7	−48.7
EBIT, normalized	20.4	−5.2	9.1	18.4	−3.2	−12.1
EBITDA, normalized	26.6	2.4	17.9	38.2	15.4	6.5
Basic EPS, normalized	–	–	–	–	–	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, Blue Ant Media Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	54.5	12.0	72.5	85.8	97.0	71.8
Receivables	120	94.9	210	176	168	66.3
Total inventory	–	–	–	–	–	–
Prepaid expenses	7.5	3.5	4.2	6.4	5.8	10.4
Other current assets	0	0	1.6	2.1	0	0
Total current assets	182	110	288	271	271	148
Property, plant & equipment	27.9	15.5	21.5	25.1	30.2	38.3
Goodwill	38.7	47.0	80.8	97.4	92.9	92.9
Intangibles	61.4	59.9	25.0	31.6	40.0	48.4
Long-term investments	119	96.7	112	225	82.0	252
Note receivable	32.7	0.7	70.0	141	80.1	77.1
Other long-term assets	9.2	10.2	6.3	5.8	7.2	6.3
Total assets	471	340	604	797	604	663
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	64.8	40.9	116	73.9	80.7	51.1
Accrued expenses	–	–	–	–	–	–
Short-term debt	0	0	0	0	0	47.3
Current portion of long-term debt	23.5	23.1	150	217	125	243
Other current liabilities	90.6	52.4	70.4	160	50.3	186
Total current liabilities	179	116	336	451	256	527
Long-term debt	25.8	33.1	32.9	62.8	67.1	63.2
Minority interest	6.9	6.5	29.9	29.9	28.7	28.4
Other liabilities	14.9	12.9	3.0	21.2	16.9	13.6
Total liabilities	226	169	402	565	368	632
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	211	156	316	316	315	85.8
Additional paid-in capital	43.1	39.2	17.6	14.8	14.4	9.8
Retained earnings (accumulated deficit)	−0.9	−14.4	−104	−72.3	−64.8	−35.7
Treasury stock	–	–	–	–	–	–
Other equity	−8.1	−9.4	−27.7	−26.7	−29.8	−28.7
Total equity	245	172	202	232	235	31.3
Total liabilities & shareholders' equity	471	340	604	797	604	663

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, Blue Ant Media Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	14.3	−70.8	−24.2	1.8	−12.1	−44.0
Depreciation, depletion & amortization	6.3	7.6	8.8	19.8	18.6	18.6
Deferred taxes	4.4	−2.2	−0.5	1.6	2.6	0.1
Non-cash items	−8.3	50.7	152	−139	176	−92.8
Changes in working capital	2.3	58.4	−68.1	42.1	−202	81.6
Cash from operations	19.0	43.7	67.7	−74.1	−16.9	−36.5
Investing activities
Capital expenditures	−6.0	−0.9	−1.3	−1.2	−2.7	−1.7
Other investing cash flows	53.4	50.8	−0.3	−0.7	−3.0	0.2
Cash from investing	47.4	49.9	−1.7	−1.9	−5.7	−1.5
Financing activities
Financing cash flow items	−4.0	−14.3	−5.2	−10.7	−7.6	−4.4
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−19.8	−67.6	−73.4	78.7	55.4	54.6
Cash from financing	−23.8	−81.8	−78.6	68.1	47.8	50.2
Foreign exchange effects	−0.2	2.2	−0.8	−3.2	−0.1	0.3
Net change in cash	42.5	14.0	−13.3	−11.2	25.2	12.5
Free cash flow	13.1	42.8	66.4	−75.3	−19.6	−38.2

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.