"Say It Right" is performed with a moderate techno groove and is written in F minor. It is set in common time; in 4/4 count. The chord progression is Fm–E♭–D♭–B♭m. Furtado's vocal range spans from Ab3 to F5. Furtado has cited the "spooky, keyboard-driven pop sound" of the band Eurythmics, particularly their 1983 song "Here Comes the Rain Again", as an influence on "Say It Right" and other tracks on Loose. "I'm not 100 percent sure what ["Here Comes the Rain Again" is] about, but it always takes me away to another place, and I love it", she said.. Universal Music Canada. Retrieved 30 December 2006. The song focuses on mystic or transcendental experiences, as Furtado explained in a 2007 interview, "It is a kind of a magical song. It has a mystery to it, that I have not quite figured out. It has a haunting twist to it."
