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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. BB Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

BlackBerry (BB)

Market Price (9/18/2025): $4.01 | Market Cap: $2.4 Bil
Sector: Information Technology | Industry: Systems Software

BlackBerry (BB)

Market Price (9/18/2025): $4.01
Market Cap: $2.4 Bil
Sector: Information Technology
Industry: Systems Software

Investment Highlights

0  Weak multi-year price returns
2Y Excs Rtn is -75%, 3Y Excs Rtn is -96%		 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 232x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 176x
1   Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.3%, Rev Chg QQuarterly Revenue Change % is -1.4%
2   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.9%
0 Weak multi-year price returns
2Y Excs Rtn is -75%, 3Y Excs Rtn is -96%
1 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 232x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 176x
2 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.3%, Rev Chg QQuarterly Revenue Change % is -1.4%
3 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.9%

Market Valuation

 9/18/25202420232022
Share Price CYE$4.01$3.78$3.54$3.26
Market Cap CYE ($ Bil)2.42.22.11.9
Total Debt ($ Bil)0.20.20.30.4
Total Cash ($ Bil)0.30.30.20.4
Enterprise Value ($ Bil)2.32.42.42.3
Valuation Ratios    
P/S TTM4.34.22.73.6
P/EBIT TTM232.2154.258.5-9.7
P/E TTM-68.1-28.3-15.9-2.6
Sector Ratios    
P/S TTM (Sector)3.23.12.82.5
P/EBIT TTM (Sector)3.9-0.0-0.1-0.5
P/E TTM (Sector)-0.4-0.3-0.4-0.5
 9/18/252024
Share Price CYE$4.01$3.78
Market Cap CYE ($ Bil)2.42.2
Total Debt ($ Bil)0.20.2
Total Cash ($ Bil)0.30.3
Enterprise Value ($ Bil)2.32.4
Valuation Ratios  
P/S TTM4.34.2
P/EBIT TTM232.2154.2
P/E TTM-68.1-28.3
Sector Ratios  
P/S TTM (Sector)3.23.1
P/EBIT TTM (Sector)3.9-0.0
P/E TTM (Sector)-0.4-0.3

Market Cap Chart

Business Description

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers BlackBerry Cyber Suite, which provides Cylance AI and machine learning-based cybersecurity solutions, including BlackBerry Protect, an EPP and available MTD solution; BlackBerry Optics, an EDR solution that provides visibility into and prevention of malicious activity; BlackBerry Guard, a managed detection and response solution; BlackBerry Gateway, an AI-empowered ZTNA solution; and BlackBerry Persona, a UEBA solution that provides authentication by validating user identity in real time. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
BB Return3%41%-65%9%7%6%-39%
Peers Return96%20%-39%53%9%-3%134%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: MSFT, MSI, JAMF, FSLY, NOW. See BB Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Better Bets than BlackBerry (BB)

 BBBetter Performance than BB
MetricValueIndustry (Systems Software)
Rev Chg LTM-1.2%MSFT (14.9%), NOW (21.1%), PANW (14.9%), CRWD (23.5%), NET (27.8%)
Rev Chg 3Y Avg-7.3%MSFT (12.5%), NOW (22.3%), PANW (18.9%), CRWD (33.5%), NET (34.5%)
Op Mgn LTM0.6%MSFT (45.6%), NOW (13.3%), PANW (13.5%), FTNT (30.9%), CRWV (6.3%)
CFO/Rev LTM2.5%MSFT (48.3%), NOW (39.0%), PANW (40.3%), CRWD (32.0%), NET (25.6%)
FCF/Rev LTM0.8%MSFT (25.4%), NOW (31.6%), PANW (37.6%), CRWD (23.9%), NET (10.4%)
Total Yield-1.5%MSFT (3.3%), NOW (0.8%), PANW (0.8%), CRWD (-0.3%), NET (-0.1%)
 BBBetter Performance than BB
MetricValueAll Other Sectors
Rev Chg LTM-1.2%GOOGL (13.1%), AMZN (10.9%), META (19.4%), JPM (8.2%), WMT (4.2%)
Rev Chg 3Y Avg-7.3%GOOGL (10.2%), AMZN (11.3%), META (13.0%), TSLA (12.9%), BRK-B (16.6%)
Op Mgn LTM0.6%GOOGL (32.7%), AMZN (11.4%), META (42.9%), TSLA (6.2%), WMT (4.2%)
CFO/Rev LTM2.5%GOOGL (36.0%), AMZN (18.1%), META (56.4%), TSLA (17.0%), BRK-B (6.9%)
FCF/Rev LTM0.8%GOOGL (18.0%), AMZN (2.0%), META (30.7%), TSLA (6.0%), BRK-B (2.1%)
Total Yield-1.5%GOOGL (4.1%), AMZN (2.9%), META (3.7%), TSLA (0.4%), BRK-B (5.9%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1BB Dip Buy Analysis  
2Better Bet Than BB Stock: Pay Less Than BlackBerry To Get More From Industry Peers NOW, PANW, WIX, FOUR, XYZ Actionable 
3Better Bet Than BB Stock: Pay Less Than BlackBerry To Get More From S&P 500 Stocks NOW, PANW, FTNT, DBX, GEN Better Bets 
4Better Bet Than BB Stock: Pay Less Than BlackBerry To Get More From Industry Peers NOW, PANW, FTNT, DBX, GEN Better Bets 
5Better Bet Than BB Stock: Pay Less Than BlackBerry To Get More From Sector Peers INTU, CRM, NVDA, IBM, CSCO Better Bets 
6BlackBerry vs. Motorola Solutions: With Return Forecast Of 18%, Motorola Solutions Is A Better BetPeer Comparison 
7BlackBerry vs. Fastly: With Return Forecast Of 31%, Fastly Is A Better BetPeer Comparison 
8BlackBerry vs. Microsoft: With Return Forecast Of 30%, Microsoft Is A Better BetPeer Comparison 
9BlackBerry vs. Jamf: With Return Forecast Of 45%, Jamf Is A Better BetPeer Comparison 
10BlackBerry vs. Gen Digital: With Return Forecast Of 24%, Gen Digital Is A Better BetPeer Comparison 
11ARTICLES  
12BlackBerry Stock Fell 10% Last Week. What’s Next? November 24th, 2021
13What’s New With BlackBerry Stock? October 20th, 2021
14What’s Next For BlackBerry Stock After A 4% Move Last Week? September 24th, 2021
15What’s Happening With BlackBerry Stock? June 28th, 2021
16Has Everbridge’s Stock Returned To A Buy Zone? June 14th, 2021
Title
0DASHBOARDS
1BlackBerry Stock Fell 10% Last Week. What’s Next?
2What’s New With BlackBerry Stock?
3What’s Next For BlackBerry Stock After A 4% Move Last Week?
4What’s Happening With BlackBerry Stock?
5Has Everbridge’s Stock Returned To A Buy Zone?
6ARTICLES
7BB Dip Buy Analysis
8Better Bet Than BB Stock: Pay Less Than BlackBerry To Get More From Industry Peers NOW, PANW, WIX, FOUR, XYZ 
9Better Bet Than BB Stock: Pay Less Than BlackBerry To Get More From S&P 500 Stocks NOW, PANW, FTNT, DBX, GEN 
10Better Bet Than BB Stock: Pay Less Than BlackBerry To Get More From Industry Peers NOW, PANW, FTNT, DBX, GEN 
11Better Bet Than BB Stock: Pay Less Than BlackBerry To Get More From Sector Peers INTU, CRM, NVDA, IBM, CSCO 
12BlackBerry vs. Motorola Solutions: With Return Forecast Of 18%, Motorola Solutions Is A Better Bet
13BlackBerry vs. Fastly: With Return Forecast Of 31%, Fastly Is A Better Bet
14BlackBerry vs. Microsoft: With Return Forecast Of 30%, Microsoft Is A Better Bet
15BlackBerry vs. Jamf: With Return Forecast Of 45%, Jamf Is A Better Bet
16BlackBerry vs. Gen Digital: With Return Forecast Of 24%, Gen Digital Is A Better Bet

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
5SDOTSadot690.6%-79.9%
6ATCHAtlasClear684.9%-83.1%
7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1PMIPicard Medical11931.7%11931.7%
2GIBOGIBO10714.0% 
3LNZALanzaTech Global8455.2%-86.3%
4GTIGraphjet Technology3998.4%-93.1%
5GWAVGreenwave Technology Solutions3582.8%-91.4%
6QMMMQMMM3409.6%8153.1%
7ECDAECD Automotive Design2715.2%307.9%
8OESXOrion Energy Systems1373.7%14.2%
9OPOceanPal1266.5%-95.6%
10BCTXBriaCell Therapeutics1032.4%-89.8%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1CJETChijet Motor-94.5%-96.0%
2STFSStar Fashion Culture-92.3%-97.9%
3ELPWElong Power-91.1%-76.9%
4NXTTNext Technology-90.1%-95.4%
5EPIXESSA Pharma-89.4%-8.9%
6NAKAKindly MD-88.1% 
7BINIBollinger Innovations-87.6%-100.0%
8JEM707 Cayman-87.4%-98.2%
9YAASYouxin Technology-83.3%-98.4%
10NEONNeonode-82.5%-51.0%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
4ATHAAthira Pharma892.1%544.3%
5SDOTSadot690.6%-79.9%
6ATCHAtlasClear684.9%-83.1%
7HSDTHelius Medical Technologies232.1%-95.5%
8CHEKCheck-Cap222.2%134.4%
9APLMApollomics197.8%89.1%
10SPRCSciSparc147.0%1141.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for BlackBerry

Financials

BBMSFTMSIJAMFFSLYNOWMedian
NameBlackBer.MicrosoftMotorola.Jamf Fastly ServiceN. 
Mkt Price4.01510.02477.8511.478.63950.37244.66
Mkt Cap2.43,789.479.71.51.3196.941.0
Rev LTM554281,72411,09466657112,0575,880
Op Inc LTM3128,5282,785-47-1391,601802
FCF LTM471,6112,38464123,8051,224
FCF 3Y Avg-9768,3862,04754-353,0541,050
CFO LTM14136,1622,61275534,6991,343
CFO 3Y Avg-75114,0972,2936173,8281,177

Growth & Margins

BBMSFTMSIJAMFFSLYNOWMedian
NameBlackBer.MicrosoftMotorola.Jamf Fastly ServiceN. 
Rev Chg LTM-1.2%14.9%6.4%11.4%7.4%21.1%9.4%
Rev Chg 3Y Avg-7.3%12.5%9.5%16.4%13.7%22.3%13.1%
Rev Chg Q-1.4%18.1%5.2%15.3%12.3%22.4%13.8%
QoQ Delta Rev Chg LTM-0.3%4.3%1.3%3.7%2.9%5.1%3.3%
Op Mgn LTM0.6%45.6%25.1%-7.0%-24.3%13.3%6.9%
Op Mgn 3Y Avg-2.1%44.0%23.8%-14.3%-34.8%10.1%4.0%
QoQ Delta Op Mgn LTM2.1%0.4%0.1%1.0%2.0%0.3%0.7%
CFO/Rev LTM2.5%48.3%23.5%11.2%9.3%39.0%17.4%
CFO/Rev 3Y Avg-11.7%46.0%21.9%10.2%0.8%38.1%16.1%
FCF/Rev LTM0.8%25.4%21.5%9.7%2.1%31.6%15.6%
FCF/Rev 3Y Avg-15.0%27.9%19.6%9.1%-7.3%30.3%14.3%

Valuation

BBMSFTMSIJAMFFSLYNOWMedian
NameBlackBer.MicrosoftMotorola.Jamf Fastly ServiceN. 
Mkt Cap2.43,789.479.71.51.3196.941.0
P/S4.313.57.22.32.216.35.8
P/EBIT232.230.126.6-32.5-9.297.128.3
P/E-68.137.237.7-30.9-8.5118.514.3
P/CFO175.827.830.520.323.641.929.2
Total Yield-1.5%3.3%3.5%-3.2%-11.7%0.8%-0.3%
Dividend Yield0.0%0.6%0.9%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-4.6%2.2%3.3%3.1%-2.2%1.9%2.0%
D/E0.10.00.10.50.30.00.1
Net D/E-0.0-0.00.10.20.1-0.00.0

Returns

BBMSFTMSIJAMFFSLYNOWMedian
NameBlackBer.MicrosoftMotorola.Jamf Fastly ServiceN. 
1M Rtn6.9%-1.4%3.8%33.7%21.9%6.5%6.7%
3M Rtn-7.2%6.4%18.3%23.7%26.9%-3.2%12.4%
6M Rtn-10.3%32.0%13.2%-16.0%21.4%12.6%12.9%
12M Rtn65.7%18.1%10.0%-33.9%17.4%7.3%13.7%
3Y Rtn-29.9%113.6%106.6%-49.8%-7.0%123.2%49.8%
1M Excs Rtn4.6%-3.7%1.5%31.3%19.5%4.2%4.4%
3M Excs Rtn-17.1%-3.5%7.5%12.9%19.8%-15.8%2.0%
6M Excs Rtn-26.6%15.9%-3.7%-31.6%4.3%-3.1%-3.4%
12M Excs Rtn44.4%2.0%-8.1%-52.9%11.5%-9.2%-3.0%
3Y Excs Rtn-95.9%35.5%35.0%-113.7%-78.4%39.0%-21.7%

Comparison Analyses

Financials

$ Mil | FY: 2/282026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
Period End5/31/20252/28/202511/30/20248/31/20245/31/20242/29/202411/30/20238/31/20235/31/20232/28/202311/30/20228/31/2022
Filing Date6/25/20254/2/202512/20/20249/27/20246/27/20244/4/202412/21/20239/29/20236/30/20233/31/202312/21/20229/28/2022
Key Financials Quarterly            
Total Revenue12214414314512315315213237321169168
Ebitda14933-841128-3610-1-30-31
Operating Income2220-21-9914-5211105-58-59
Net Income2-7-11-19-41-56-21-42-11-495-4-54
EPS0.00-0.01-0.02-0.03-0.07-0.10-0.04-0.07-0.02-0.85-0.01-0.09
Key Financials TTM            
Total Revenue TTM554555564574560810678695731526690705
Ebitda TTM483840347131-57-52-209-193-177
Operating Income TTM3-8-2-8-39-18786-1-70-194-195
Net Income TTM-35-78-128-138-161-130-569-552-564-734-95-17
Growth Rates Quarterly            
Total Revenue Growth-1.4%-6.0%-5.9%9.8%-66.9%618.8%-10.1%-21.4%122.0%-88.5%-8.2%-4.0%
EBITDA Growth255.3%-15.6%17.9%77.2%-62.0%1657.1%193.3%-16.1%106.8%-104.7%-114.3%-19.2%
Operating Income Growth122.3%-75.6%42.9%59.6%-185.5%-91.8%124.1%11.9%119.0%654.7%1.7%20.3%
Net Income Growth104.6%87.5%47.6%54.8%-276.4%88.7%-425.0%22.2%93.9%-444.0%-105.4%62.5%
Margins Quarterly            
EBITDA Margin11.1%6.4%23.1%-5.7%3.1%7.1%18.4%-27.3%2.7%-3.3%-17.8%-18.5%
Operating Income Margin1.7%1.5%14.0%-14.5%-7.6%5.6%9.2%-39.4%2.9%494.8%-34.3%-35.1%
Net Income Margin1.6%-4.9%-7.7%-13.1%-33.5%-36.7%-13.8%-31.8%-2.9%-2325.8%-2.4%-32.1%
Cash & Debt            
Total Cash307338220211229237210456516426449643
Total Debt236239224250247252197432441443474528
Net Debt / (Cash)-71-994391814-13-24-751725-115
Cash Flows Quarterly            
FCF from Operations-18423-13-15-16-31-5699-9-187-24
Cash Flows TTM            
FCF from Operations TTM1416-40-74-118-43-153-121-262-244-76
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases10-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC0.1%0.3%1.7%-2.8%-1.3%1.2%0.7%-7.2%1.6%13.5%-8.0%-8.6%
Return on Invested Capital (ROIC) TTM            
ROIC TTM0.1%-0.3%-0.1%-0.3%-1.3%-0.6%2.7%0.2%-0.0%-2.4%-6.7%-7.1%

Segment Financials

Revenue by Segment

$ Mil20252024202320222021
Secure Communications284288477491 
Licensing26032718272349
QNX215206178130 
Software and Services    691
Total7595261,3738931,040


Price Behavior

BB Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta1.711.601.441.351.491.51
Up Beta2.602.501.171.511.381.26
Down Beta1.560.560.651.051.231.29
Up Capture149%50%120%110%335%481%
Bmk +ve Days10223571142415
Stock +ve Days7112451115346
Down Capture131%258%239%142%132%108%
Bmk -ve Days11192754106334
Stock -ve Days12273566119369

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity35,114,855
Short Interest: % Change Since 8152025-5.8%
Average Daily Volume6,473,113
Days-to-Cover Short Interest5.42
Basic Shares Quantity596,300,000
Short % of Basic Shares5.9%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
6/24/202512.5%0.2%-9.7%
4/2/2025-9.1%-23.1%-9.7%
12/19/202423.8%31.2%39.9%
9/26/2024-0.8%-8.7%-5.9%
6/26/202410.9%12.7%12.2%
4/3/20242.5%10.3%3.9%
12/20/2023-12.7%-13.2%-13.4%
9/7/2023-2.6%15.0%-19.4%
...
SUMMARY STATS   
# Positive8710
# Negative141512
Median Positive9.0%10.3%10.7%
Median Negative-9.3%-8.7%-9.7%
Max Positive23.8%31.2%54.8%
Max Negative-18.6%-23.4%-21.4%

SEC Filings

Expand for More

Report DateFiling DateFiling
5312025625202510-Q 5/31/2025
2282025402202510-K 2/28/2025
113020241220202410-Q 11/30/2024
8312024927202410-Q 8/31/2024
5312024627202410-Q 5/31/2024
2292024404202410-K 2/29/2024
113020231221202310-Q 11/30/2023
8312023929202310-Q 8/31/2023
5312023630202310-Q 5/31/2023
2282023331202310-K 2/28/2023
113020221221202210-Q 11/30/2022
8312022928202210-Q 8/31/2022
5312022624202210-Q 5/31/2022
2282022401202210-K 2/28/2022
113020211222202110-Q 11/30/2021
8312021923202110-Q 8/31/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Chai Jay P.SVP & Chief Accounting Officer1282025Sell4.1924,425102,341 Form

Industry Resources

External Quote Links


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