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BlackBerry Ltd(BB)
Top performer 
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
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Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for BB
09/25/2026: BB (5-star) is currently NOT-A-BUY. Pass it for now.
BlackBerry Ltd is a software-focused company specializing in cybersecurity and embedded systems for the automotive and IoT sectors. Its core strength lies in the QNX operating system, which is widely utilized in modern vehicle software, providing a stable foundation for the firm. The primary investment story centers on the company’s ability to monetize the shift toward software-defined vehicles while growing its AI-powered cybersecurity business. However, the company faces significant execution risks and stiff competition in the cybersecurity market, which has historically pressured margins and top-line growth. It is likely most suitable for growth-oriented investors who monitor the adoption rates of automotive software and the firm’s progress in segment-specific profitability.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The company is targeting high-growth automotive markets, but historical revenue growth has been inconsistent. |
| Momentum investor | Weak fit | The stock has lacked sustained upward momentum, often trading on niche catalysts rather than broad trends. |
| Value investor | Mixed fit | The stock may appear attractively valued to some, but it lacks the steady earnings typical of traditional value plays. |
| Dividend investor | Weak fit | The company does not pay a dividend and focuses capital on business transformation. |
| Low-risk investor | Weak fit | The company's volatility and ongoing transition risks are generally unsuitable for conservative investors. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock frequently experiences large swings based on sector sentiment and specific product announcements. |
| Valuation risk | Medium | Valuation hinges heavily on long-term adoption of software in vehicles rather than current earnings. |
| Competition risk (cybersecurity) | High | Large, well-funded rivals put pressure on BlackBerry’s cybersecurity segment market share. |
| Business quality | Medium | While QNX is a high-quality, embedded asset, the broader cybersecurity business is still finding its scale. |
| Dividend income | Low / none | There is no income component for investors, making total return solely dependent on price appreciation. |
| Execution risk | Medium / high | The company must successfully navigate organizational restructuring while maintaining its automotive pipeline. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Choppy
The stock has experienced frequent reversals and pronounced short-term price swings.
Analysis of Past Performance
Type Stock | Historic Profit 158.1% | Avg. Invested days 35 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  5.0 |
| Profits based on simulation | Last Close 09/25/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 5.12B USD | Price to earnings Ratio 87.3 | 1Y Target Price 9.71 |
Price to earnings Ratio 87.3 | 1Y Target Price 9.71 | ||
Volume (30-day avg) 12.6M shares | Beta 1.44 | 52 Weeks Range 3.12 - 13.59 | Updated Date 09/25/2026 |
52 Weeks Range 3.12 - 13.59 | Updated Date 09/25/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.1 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Cybersecurity | Endpoint security software, licensing, and professional services. | The company sells security software tools to help businesses protect their computer systems from digital threats. |
| IoT (Internet of Things) | QNX operating system royalties and maintenance fees from automotive and industrial customers. | BlackBerry earns ongoing fees from the software that powers the digital dashboards and systems in millions of cars. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2026-09-24 | When Before Market | Estimate 0.03 | Actual 0.05 |
Profitability
Profit Margin 13.09% | Operating Margin (TTM) 21% |
Management Effectiveness
Return on Assets (TTM) 5.2% | Return on Equity (TTM) 10.6% |
Valuation
Trailing PE 87.3 | Forward PE 47.17 | Enterprise Value 4.80B | Price to Sales(TTM) 8.35 |
Enterprise Value 4.80B | Price to Sales(TTM) 8.35 | ||
Enterprise Value to Revenue 7.54 | Enterprise Value to EBITDA 46.28 | Shares Outstanding 587.03M | Shares Floating 585.57M |
Shares Outstanding 587.03M | Shares Floating 585.57M | ||
Percent Insiders 0.32 | Percent Institutions 54.16 |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
About BlackBerry Ltd
Exchange NYSE | Headquarters Waterloo, ON, Canada | ||
IPO Launch date 1997-12-08 | CEO; President of Secure Communications & Director Mr. John Joseph Giamatteo | ||
Sector Technology | Industry Software - Infrastructure | Full time employees 1749 | Website https://www.blackberry.com |
Full time employees 1749 | Website https://www.blackberry.com | ||
BlackBerry Limited provides intelligent software and services to enterprises and governments worldwide. The company operates through three segments: Secure Communications, QNX, and Licensing. The company offers BlackBerry Dynamics, a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice, and video; BlackBerry SecuSUITE, a multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions. It also provides BlackBerry Certicom, a patented elliptic curve cryptography, which provides device security, anti-counterfeiting, and product authentication solutions; BlackBerry Radar offers asset monitoring and telematics solutions for transportation and logistics; and BlackBerry Development Platform, an enterprise-grade toolset. In addition, the company offers enterprise consulting and engineering consulting services. Further, it is involved in patent licensing. The company was formerly known as Research In Motion Limited and changed its name to BlackBerry Limited in July 2013. BlackBerry Limited was incorporated in 1984 and is headquartered in Waterloo, Canada.
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