Fact based stock research
Sangoma (TSX:STC)

CA80100R4089

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Sangoma stock research in summary

sangoma.com

ANALYSIS: With an Obermatt Combined Rank of 18 (worse than 82% compared with investment alternatives), Sangoma (Communications Equipment, Canada) shares have lower financial characteristics compared with similar stocks. Shares of Sangoma are a good value (attractively priced) with a consolidated Value Rank of 55 (better than 55% of alternatives) but show below-average growth (Growth Rank of 49), and are riskily financed (Safety Rank of 18), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 18, is a sell recommendation based on Sangoma's financial characteristics. As the company Sangoma's key financial metrics exhibit good value (Obermatt Value Rank of 55) but low growth (Obermatt Growth Rank of 49) and risky financing practices (Obermatt Safety Rank of 18), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 55% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	55
Growth Rank	49
Safety Rank	18
Combined Rank	18

Country	Canada
Industry	Communications Equipment
Index	NASDAQ
Size class	Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Sangoma

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	65	70	65	55
GROWTH
GROWTH	17	27	47	49
SAFETY
SAFETY	43	16	15	18
SENTIMENT
SENTIMENT	39	57	55	^new
360° VIEW
360° VIEW	27	25	42	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Sangoma is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	65	70	65	55
GROWTH
GROWTH	17	27	47	49
SAFETY
SAFETY	43	16	15	18
COMBINED
COMBINED	30	19	34	18

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Sangoma the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 55 (better than 55% compared with alternatives), Sangoma shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, where half the indicators are below and half above average for Sangoma. Price-to-Sales (P/S) is 83, which means that the stock price compared with what market professionals expect for future sales is lower than for 83% of comparable companies, indicating a good value concerning Sangoma's revenue size. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio), which is more favorable than for 86% of alternatives (14% of peers have a higher ratio). But expected dividend yields with a Dividend Yield rank of 1 are lower than average (dividends are expected to be lower than 99% of other stocks) while the Price to Profit ratio (or Price to Earnings (P/E) ratio) is higher than average with a Price-to-Profit Rank of 3, making the stock more expensive compared with the company's expected profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 55, is a buy recommendation based on Sangoma's stock price compared with the company's operational size and dividend yields. Low profits and low dividends as seen here for Sangoma may indicate a restructuring phase. This could be transitory, making the company a good value when profits recover and dividends return to higher levels. If the stock price is compared with the size indicators for revenue and invested capital, it is on the lower side, making this stock a good value investment (apart from current profit and dividend expectations). We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	64	83	82	83
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	22	22	1	3
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	94	93	84	86
DIVIDEND YIELD
DIVIDEND YIELD	1	1	1	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	65	70	65	55

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Sangoma; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 49 (better than 49% compared with alternatives), Sangoma shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, where half of the indicators are below and half above average for Sangoma. Profit Growth, with a rank of 61 (better than 61% of its competitors), and Capital Growth, with a rank of 98, are both positive, which is a healthy sign for positive development. But Sales Growth has only a rank of 8, which means that, currently, professionals expect the company to grow less than 92% of its competitors, and Stock Returns are at a rank of 45. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 49, is a hold recommendation for growth and momentum investors. Stock returns that are a thing of the past can be less of a problem. Below-average revenue growth may be caused by divestments of underperforming businesses. If that is the case, then the positive developments of profit and capital growth are signs of a company with growth potential. If these are the reasons, overall growth is well on track to making this stock attractive for growth investors. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	42	19	16	8
PROFIT GROWTH
PROFIT GROWTH	1	69	64	61
CAPITAL GROWTH
CAPITAL GROWTH	45	15	27	98
STOCK RETURNS
STOCK RETURNS	33	35	81	45
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	17	27	47	49

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Sangoma.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 18 (better than 18% compared with alternatives), the company Sangoma has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Sangoma is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with all three metrics below average for Sangoma. Liquidity is at 43, meaning that the company generates less profit to service its debt than 57% of its competitors. This indicates that the company is on the riskier side when it comes to debt service. Even worse, Leverage is at a rank of 46, meaning the company has an above-average debt-to-equity ratio. It has more debt than 54% of its competitors. Finally, Refinancing is at a rank of 3 which means that the portion of the debt about to be refinanced is above average. It has more debt in the refinancing stage than 97% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 18 (worse than 82% compared with alternatives), Sangoma has a financing structure that is significantly riskier than that of its competitors. This combination is rather dangerous in most situations. Only very promising companies with bright future outlooks and stellar reputations can operate with such risky financing. Investors should look at Obermatt’s Value, Growth, and Sentiment Ranks to confirm a very positive outlook or be careful with investing in stocks of Sangoma because it may suffer significantly in case of future difficulties. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	64	42	46	46
REFINANCING
REFINANCING	5	7	5	3
LIQUIDITY
LIQUIDITY	48	37	48	43
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	43	16	15	18

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Sangoma and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	34	93	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	2	^new
PRO HOLDINGS
PRO HOLDINGS	15	22	8	^new
MARKET PULSE
MARKET PULSE	38	85	88	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	39	57	55	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Sangoma.
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