Is it a good company at a reasonable price? The stock price (and the company) had a high in 2008 and stock price has been declining ever since. Revenue has been declining since 2012. They have not done much in earnings neither. Analysts seem to think that both Revenue and Earnings will turn up over the next couple of years. Perhaps. This stock cannot be thought of anything else but high risk. Analysts give it a Hold. That is unusual as mostly analysts give stock a Strong Buy or Buy rating. It is testing as reasonable.
I do not own this stock of BlackBerry Ltd (TSX-BB, NYSE-BB). I bought this stock for capital gain. I first bought it in 1999 and then some more in 2000. I sold some in 2006 and 2007 to lock in some profit. I sold the rest of my stock in 2010.
When I was updating my spreadsheet, I noticed that only one of the current directors has any shares in the company and this includes the Chairman. However, all the officers that I follow, including the CEO have increased their shares in the company over the past year. I noticed that the Chairman is the same as for the last couple of year, but the three other directors I was following have gone.
I made a total return of 20.18% per year on this stock. However, if I had continued to hold my shares until recently, I would have lost 4.25% per year.
If you had invested in this company in December 2014, for $1,006.46 you would have bought 79 shares at $12.74 per share. In December 2024, after 10 years you would have received $0.00 in dividends. The stock would be worth $431.34. Your total return would have been $431.34. This would be a total loss of 8.18% per year with 8.18% from capital loss and 0.00% from dividends.
| Cost | Tot. Cost | Shares | Years | Dividends | Stock Val | Tot Ret |
|---|---|---|---|---|---|---|
| $12.74 | $1,006.46 | 79 | 10 | $0.00 | $431.34 | $431.34 |
This stock has no dividend so there is no dividend yield and no Dividend Payout Ratios (DPR).
Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.0.07 and currently at 0.09. The Liquidity Ratio for 2024 is good at 1.72 and 2.10 currently. The Debt Ratio for 2024 is good at 2.25 and 2.49 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.80 and 0.80 and currently at 1.67 and 0.67.
| Type | Year End | Ratio Curr |
|---|---|---|
| Lg Term R | 0.07 | 0.09 |
| Intang/GW | 0.62 | 0.74 |
| Liquidity | 1.72 | 2.10 |
| Liq. + CF | 2.27 | 2.27 |
| Debt Ratio | 2.25 | 2.49 |
| Leverage | 1.80 | 1.67 |
| D/E Ratio | 0.80 | 0.67 |
The Total Return per year is shown below for years of 5 to 28 to the end of 2024 in CDN$. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.
| From | Years | Div. Gth | Tot Ret | Cap Gain | Div. |
|---|---|---|---|---|---|
| 2019 | 5 | 0.00% | -8.15% | -8.15% | 0.00% |
| 2014 | 10 | 0.00% | -8.12% | -8.12% | 0.00% |
| 2009 | 15 | 0.00% | -15.72% | -15.72% | 0.00% |
| 2004 | 20 | 0.00% | -8.59% | -8.59% | 0.00% |
| 1999 | 25 | 0.00% | -2.81% | -2.81% | 0.00% |
| 1996 | 28 | 0.00% | 5.53% | 5.53% | 0.00% |
The Total Return per year is shown below for years of 5 to 28 to the end of 2024 in US$. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.
| From | Years | Div. Gth | Tot Ret | Cap Gain | Div. |
|---|---|---|---|---|---|
| 2019 | 5 | 0.00% | -10.05% | -10.05% | 0.00% |
| 2014 | 10 | 0.00% | -10.11% | -10.11% | 0.00% |
| 2009 | 15 | 0.00% | -17.49% | -17.49% | 0.00% |
| 2004 | 20 | 0.00% | -9.44% | -9.44% | 0.00% |
| 1999 | 25 | 0.00% | -2.81% | -2.81% | 0.00% |
| 1996 | 28 | 0.00% | 5.33% | 5.33% | 0.00% |
The 5-year low, median, and high median Price/Earnings per Share Ratios are negative and so unusable. The corresponding 10 year ratios are also negative and unusable. The corresponding historical ratios are 5.87, 9.96 and 12.55. The current P/E Ratio is 60.01 based on a stock price of $4.94 and EPS estimate for 2026 of $0.06. This P/E Ratio is very high. This stock price testing suggests that the stock price is relatively expensive. This testing is in CDN$.
I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 20.30, 87.73 and 115.23. The corresponding 10 year ratios are 62.70, 87.90 and 115.16. The corresponding historical ratios are 8.75, 16.77 and 25.54. The current P/AEPS Ratio is 40.01 based on a stock price of $4.94 and AEPS estimate for 2026 of $0.12. Ratio is very high, but then this company either had earnings losses or very low earnings in most years. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. This testing is in CDN$.
I get a Graham Price of $2.15. The 10-year low, median, and high median Price/Graham Price Ratios are 2.00, 3.43 and 4.43. The current P/GP Ratio is 2.29 based on a stock price of $4.94. The current ratio is between the low and median ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in CDN$.
I get a 10-year median Price/Book Value per Share Ratio of 2.41. The current P/B Ratio is 2.94 based on a Book Value of $725M, Book Value per Share of $1.22 and a stock price of $3.58. The current ratio is 23% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. This testing is in US$.
This testing in CDN$ is different and testing in CDN$ shows that the current ratio is only 7% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median. US$ and CDN$ testing does not always agree on this stock, but I can not find anything wrong with my spreadsheet. Generally, testing in CDN$ and US$ are close.
I get a 10-year median Price/Cash Flow per Share Ratio of 7.91. The current ratio is 51.14 based on Cash Flow per Share estimate for 2026 of $0.07, Cash Flow of $42.00 and a stock price of $3.58. The current ratio is 547% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. This testing is in US$. You will get a similar answer in CDN$.
I cannot do any dividend yield testing because this stock has no dividends.
The 10-year median Price/Sales (Revenue) Ratio is 4.15. The current ratio is 4.11 based Revenue estimate for 2026 of $520M, Revenue per Share of $0.87 and a stock price of $3.58. The current ratio is 1% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in US$. You will get a similar answer in CDN$.
Results of stock price testing is that the stock price is probably reasonable and below the median. The P/S Ratio testing says this. The Price/Graham Price Ratio test is also saying this. Problem with the P/E Ratio and P/AEPS Ratio tests is the lack of earnings.
When I look at analysts’ recommendations, I find Strong Buy (1), Hold (5) and Sell (1). The consensus would be a Hold. The 12 months stock price is $5.21 ($3.80 US$), with a high of $5.53 ($4.03 US$) and low of $4.91 ($3.58 US$). The consensus stock price of $5.21 implies a total return of $5.54% all from capital gains based on a current stock price of $4.94.
There is only one entry on Stock Chase so this stock is not well followed. The entry says they have a strong cybersecurity business, but not super cheap. Sneha Nahata on Motley Fool says BlackBerry is undergoing a strategic transformation, focusing on high-value, scalable markets and building a more sustainable business model. Aditya Raghunath on Motley Fool says BlackBerry Limited delivered a robust first quarter for fiscal 2026, exceeding guidance across all key metrics and demonstrating the effectiveness of its strategic transformation into a cybersecurity and automotive software leader. The company put out a press release via Globe and Mail on the fourth quarter results for February 2025.
Zacks via Yahoo Finance puts out a report on this stock. There is also another report by Insider Monkey via Yahoo Finance. Simply Wall Street has one warning out on this stock of Large one-off items impacting financial results.
BlackBerry Ltd. provides intelligent security software and services to enterprises and governments worldwide. BlackBerry aligned its software and services business around 2 key market opportunities: Cyber Security and IoT. Its web site is here BlackBerry Ltd.
The last stock I wrote about was about was Well Health Technologies Corp (TSX-WELL, OTCQX-WHTCF) ... learn more. The next stock I will write about will be Andrew Peller Ltd (TSX-ADW.A, OTC-ADWPF) ... learn more on Monday, August 11, 2025 around 5 pm.
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