BB
BlackBerry Limited
BB's fundamentals are strong: its operating margin rose 9 points to 14% and revenue grew 14%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
BB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
BB's revenue, profitability, cash flow and balance sheet are all currently healthy.
BB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 43x | $9.12 | — |
| Cheap | 69x | $8.91 | -2.3% |
| Current | 70x | $9.12 | — |
| Fair | 92x | $12.00 | +32% |
| Expensive | 115x | $14.99 | +64% |
Historical ranges are pointers, not guarantees.
BB's PE is 70x, but its earnings don't support one, so it isn't a reliable read right now.
BB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for BB, with profitability improving.
BB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.21 | +64% |
| Q3 2026 | $0.13 | +$0.14 |
| Q2 2026 | $0.10 | +$0.16 |
| Q1 2026 | $0.09 | +$0.22 |
| Q4 2025 | $0.03 | +$0.23 |
| Q3 2025 | -$0.01 | +$0.22 |
| Q2 2025 | -$0.06 | +$0.21 |
| Q1 2025 | -$0.13 | +$0.09 |
| Q4 2024 | -$0.20 | +$0.75 |
BB has returned to profit: it earned $0.13 per share over the past year, after losing money the year before.
BB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $163.3M | +26% |
| Q2 2026 | $152.9M | +26% |
| Q1 2026 | $156M | +8.4% |
| Q4 2025 | $141.8M | -0.8% |
| Q3 2025 | $129.6M | -11% |
| Q2 2025 | $121.7M | -15% |
| Q1 2025 | $143.9M | -17% |
| Q4 2024 | $143M | -18% |
BB's revenue is recovering but still below its 2023 peak: $163M last quarter, up 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +12 points |
| Q2 2026 | 10% | +8.4 points |
| Q1 2026 | 15% | +19 points |
| Q4 2025 | 8.4% | -4.9 points |
| Q3 2025 | 8.9% | +23 points |
| Q2 2025 | 1.6% | +29 points |
| Q1 2025 | -4.3% | +28 points |
| Q4 2024 | 13% | +20 points |
BB's operating margin was 21% last quarter, up 12 points from the same quarter a year ago.
BB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $28.1M | +806% |
| Q2 2026 | $1.7M | +$20.6M |
| Q1 2026 | $44.9M | +8.5% |
| Q4 2025 | $17.4M | +480% |
| Q3 2025 | $3.1M | +$18.1M |
| Q2 2025 | -$18.9M | -$2.9M |
| Q1 2025 | $41.4M | +$58.4M |
| Q4 2024 | $3M | +$36M |
BB generated $92M in free cash flow over the past year, about three times what it generated the year before.
BB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.5% | +56.5M shares |
| 1 year | +8.8% | +52.3M shares |
| 3 years | +11% | +66.1M shares |
| 5 years | +15% | +82.3M shares |
| Available history | +17% | +93M shares |
BB has 650M diluted shares, up 8.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $10M |
| Q1 2026 | $26.7M |
| Q4 2025 | $4M |
| Q3 2025 | $20M |
| Q2 2025 | $10M |
| Q1 2020 | — |
BB spent $41M buying back its own shares over the past year.
BB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -0.8x | Net Cash |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -2.1x | Net Cash |
| Q3 2025 | -1.8x | Net Cash |
| Q2 2025 | -4.0x | Net Cash |
| Q4 2022 | -7.5x | Net Cash |
| Q3 2022 | -4.2x | Net Cash |
BB has more cash than debt.
BB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.5 | Neutral |
| Stochastic | 56.1 | Neutral |
BB's weekly RSI is 57 (neutral) and its Stochastic is 56 (neutral).
BB PE vs Technology Sector
| Metric | BB | Sector median | Relative |
|---|---|---|---|
| PE | 70x | 28x | 152% above |
| PE % | 22 | 35 | 13 pts below |
BB is trading at 70x earnings, a 152% premium to the Technology sector's median of 28x, though its earnings don't support one.
BB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.71 | 4.7% above |
| 20 week MA | $8.78 | 3.9% above |
| 50 week MA | $6.57 | 39% above |
| 100 week MA | $5.35 | 70% above |
| 200 week MA | $4.43 | 106% above |
BB is in an uptrend: it's above all five of its weekly moving averages, and 106% above its 200-week average.
BB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.45 | $7.06 | +9.5% |
| 2021 | $7.06 | $9.48 | +34% |
| 2022 | $9.48 | $3.40 | -64% |
| 2023 | $3.40 | $3.54 | +4.1% |
| 2024 | $3.54 | $3.91 | +10% |
| 2025 | $3.91 | $3.97 | +1.5% |
| 2026 YTD | $3.97 | $9.12 | +130% |
BB has finished higher in five of the last six years. It's up 130% so far in 2026.