BLACKBERRY LTD (BB) Fundamental Analysis & Valuation

NYSE:BB • CA09228F1036

3.55 USD
+0.07 (+2.01%)
Last: Mar 5, 2026, 10:42 AM

This BB fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Overall BB gets a fundamental rating of 4 out of 10. We evaluated BB against 276 industry peers in the Software industry. Both the profitability and the financial health of BB get a neutral evaluation. Nothing too spectacular is happening here. BB has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

4

1. BB Profitability Analysis

1.1 Basic Checks

  • In the past year BB was profitable.
  • BB had a positive operating cash flow in the past year.
  • In the past 5 years BB reported 4 times negative net income.
  • In multiple years BB reported negative operating cash flow during the last 5 years.
BB Yearly Net Income VS EBIT VS OCF VS FCFBB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M -1B

1.2 Ratios

  • The Return On Assets of BB (1.80%) is better than 63.41% of its industry peers.
  • BB has a Return On Equity of 2.96%. This is in the better half of the industry: BB outperforms 63.77% of its industry peers.
  • The Return On Invested Capital of BB (4.20%) is better than 71.74% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for BB is significantly below the industry average of 10.80%.
Industry RankSector Rank
ROA 1.8%
ROE 2.96%
ROIC 4.2%
ROA(3y)-19.72%
ROA(5y)-19.58%
ROE(3y)-37.82%
ROE(5y)-37.22%
ROIC(3y)5.23%
ROIC(5y)N/A
BB Yearly ROA, ROE, ROICBB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -20 -40 -60 -80

1.3 Margins

  • BB has a better Profit Margin (4.08%) than 64.13% of its industry peers.
  • BB has a Operating Margin of 9.55%. This is in the better half of the industry: BB outperforms 75.72% of its industry peers.
  • With a decent Gross Margin value of 74.99%, BB is doing good in the industry, outperforming 66.30% of the companies in the same industry.
  • BB's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 9.55%
PM (TTM) 4.08%
GM 74.99%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y4.31%
GM growth 5Y-0.01%
BB Yearly Profit, Operating, Gross MarginsBB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 -50 -100

4

2. BB Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so BB is destroying value.
  • BB has more shares outstanding than it did 1 year ago.
  • BB has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, BB has a worse debt to assets ratio.
BB Yearly Shares OutstandingBB Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M
BB Yearly Total Debt VS Total AssetsBB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

2.2 Solvency

  • Based on the Altman-Z score of 0.92, we must say that BB is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of BB (0.92) is worse than 62.32% of its industry peers.
  • The Debt to FCF ratio of BB is 5.16, which is a neutral value as it means it would take BB, 5.16 years of fcf income to pay off all of its debts.
  • With a Debt to FCF ratio value of 5.16, BB perfoms like the industry average, outperforming 57.25% of the companies in the same industry.
  • BB has a Debt/Equity ratio of 0.26. This is a healthy value indicating a solid balance between debt and equity.
  • BB has a Debt to Equity ratio (0.26) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 5.16
Altman-Z 0.92
ROIC/WACC0.42
WACC10.1%
BB Yearly LT Debt VS Equity VS FCFBB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B

2.3 Liquidity

  • BB has a Current Ratio of 2.14. This indicates that BB is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of BB (2.14) is better than 60.51% of its industry peers.
  • A Quick Ratio of 2.14 indicates that BB has no problem at all paying its short term obligations.
  • BB has a better Quick ratio (2.14) than 60.87% of its industry peers.
Industry RankSector Rank
Current Ratio 2.14
Quick Ratio 2.14
BB Yearly Current Assets VS Current LiabilitesBB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

4

3. BB Growth Analysis

3.1 Past

  • BB shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 600.00%, which is quite impressive.
  • Measured over the past years, BB shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -31.23% on average per year.
  • Looking at the last year, BB shows a very negative growth in Revenue. The Revenue has decreased by -11.24% in the last year.
  • BB shows a very negative growth in Revenue. Measured over the last years, the Revenue has been decreasing by -12.45% yearly.
EPS 1Y (TTM)600%
EPS 3YN/A
EPS 5Y-31.23%
EPS Q2Q%150%
Revenue 1Y (TTM)-11.24%
Revenue growth 3Y-9.35%
Revenue growth 5Y-12.45%
Sales Q2Q%-12.47%

3.2 Future

  • Based on estimates for the next years, BB will show a very strong growth in Earnings Per Share. The EPS will grow by 69.29% on average per year.
  • The Revenue is expected to grow by 4.44% on average over the next years.
EPS Next Y657.77%
EPS Next 2Y195.89%
EPS Next 3Y118.48%
EPS Next 5Y69.29%
Revenue Next Year-1.73%
Revenue Next 2Y2.84%
Revenue Next 3Y4.44%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
BB Yearly Revenue VS EstimatesBB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1B 2B 3B
BB Yearly EPS VS EstimatesBB Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 0 0.2 -0.2 0.4

5

4. BB Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 25.36 indicates a quite expensive valuation of BB.
  • Based on the Price/Earnings ratio, BB is valued a bit cheaper than the industry average as 63.77% of the companies are valued more expensively.
  • BB is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.03, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 20.27, which indicates a rather expensive current valuation of BB.
  • 66.67% of the companies in the same industry are more expensive than BB, based on the Price/Forward Earnings ratio.
  • BB's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 25.11.
Industry RankSector Rank
PE 25.36
Fwd PE 20.27
BB Price Earnings VS Forward Price EarningsBB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BB indicates a somewhat cheap valuation: BB is cheaper than 69.93% of the companies listed in the same industry.
  • BB's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 55.13
EV/EBITDA 26.81
BB Per share dataBB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0.2 0.4 0.6 0.8 1

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • BB's earnings are expected to grow with 118.48% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.04
PEG (5Y)N/A
EPS Next 2Y195.89%
EPS Next 3Y118.48%

0

5. BB Dividend Analysis

5.1 Amount

  • No dividends for BB!.
Industry RankSector Rank
Dividend Yield 0%

BB Fundamentals: All Metrics, Ratios and Statistics

BLACKBERRY LTD

NYSE:BB (3/5/2026, 10:42:55 AM)

3.55

+0.07 (+2.01%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)12-18
Earnings (Next)04-09
Inst Owners50.29%
Inst Owner Change-4.3%
Ins Owners0.21%
Ins Owner Change4.28%
Market Cap2.10B
Revenue(TTM)537.00M
Net Income(TTM)21.90M
Analysts47.69
Price Target3.25 (-8.45%)
Short Float %3.95%
Short Ratio2.92
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)119.21%
Min EPS beat(2)27.75%
Max EPS beat(2)210.68%
EPS beat(4)4
Avg EPS beat(4)252.33%
Min EPS beat(4)27.75%
Max EPS beat(4)676.7%
EPS beat(8)8
Avg EPS beat(8)197.18%
EPS beat(12)12
Avg EPS beat(12)168.18%
EPS beat(16)16
Avg EPS beat(16)138.16%
Revenue beat(2)1
Avg Revenue beat(2)1.26%
Min Revenue beat(2)-0.57%
Max Revenue beat(2)3.09%
Revenue beat(4)3
Avg Revenue beat(4)2.85%
Min Revenue beat(4)-0.57%
Max Revenue beat(4)5.32%
Revenue beat(8)6
Avg Revenue beat(8)6.8%
Revenue beat(12)7
Avg Revenue beat(12)14.36%
Revenue beat(16)8
Avg Revenue beat(16)10.32%
PT rev (1m)1.61%
PT rev (3m)-0.97%
EPS NQ rev (1m)0%
EPS NQ rev (3m)12.5%
EPS NY rev (1m)0%
EPS NY rev (3m)7.29%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.68%
Revenue NY rev (1m)0.91%
Revenue NY rev (3m)1.72%
Valuation
Industry RankSector Rank
PE 25.36
Fwd PE 20.27
P/S 3.9
P/FCF 55.13
P/OCF 45.84
P/B 2.83
P/tB 9.42
EV/EBITDA 26.81
EPS(TTM)0.14
EY3.94%
EPS(NY)0.18
Fwd EY4.93%
FCF(TTM)0.06
FCFY1.81%
OCF(TTM)0.08
OCFY2.18%
SpS0.91
BVpS1.26
TBVpS0.38
PEG (NY)0.04
PEG (5Y)N/A
Graham Number1.99
Profitability
Industry RankSector Rank
ROA 1.8%
ROE 2.96%
ROCE 5.32%
ROIC 4.2%
ROICexc 6.13%
ROICexgc 28.52%
OM 9.55%
PM (TTM) 4.08%
GM 74.99%
FCFM 7.08%
ROA(3y)-19.72%
ROA(5y)-19.58%
ROE(3y)-37.82%
ROE(5y)-37.22%
ROIC(3y)5.23%
ROIC(5y)N/A
ROICexc(3y)8.17%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)6.62%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y4.31%
GM growth 5Y-0.01%
F-Score7
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 0.26
Debt/FCF 5.16
Debt/EBITDA 2.75
Cap/Depr 38.5%
Cap/Sales 1.43%
Interest Coverage 9.33
Cash Conversion 64.1%
Profit Quality 173.52%
Current Ratio 2.14
Quick Ratio 2.14
Altman-Z 0.92
F-Score7
WACC10.1%
ROIC/WACC0.42
Cap/Depr(3y)32.41%
Cap/Depr(5y)28.32%
Cap/Sales(3y)4.15%
Cap/Sales(5y)4.56%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)600%
EPS 3YN/A
EPS 5Y-31.23%
EPS Q2Q%150%
EPS Next Y657.77%
EPS Next 2Y195.89%
EPS Next 3Y118.48%
EPS Next 5Y69.29%
Revenue 1Y (TTM)-11.24%
Revenue growth 3Y-9.35%
Revenue growth 5Y-12.45%
Sales Q2Q%-12.47%
Revenue Next Year-1.73%
Revenue Next 2Y2.84%
Revenue Next 3Y4.44%
Revenue Next 5YN/A
EBIT growth 1Y385%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year289.52%
EBIT Next 3Y74.01%
EBIT Next 5Y49.18%
FCF growth 1Y240.74%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y2185%
OCF growth 3YN/A
OCF growth 5Y-8.69%

BLACKBERRY LTD / BB FAQ

Can you provide the ChartMill fundamental rating for BLACKBERRY LTD?

ChartMill assigns a fundamental rating of 4 / 10 to BB.


Can you provide the valuation status for BLACKBERRY LTD?

ChartMill assigns a valuation rating of 5 / 10 to BLACKBERRY LTD (BB). This can be considered as Fairly Valued.


What is the profitability of BB stock?

BLACKBERRY LTD (BB) has a profitability rating of 4 / 10.


Can you provide the financial health for BB stock?

The financial health rating of BLACKBERRY LTD (BB) is 4 / 10.