BlackBerry Limited (BB) 10-Year Financial Performance & Capital Metrics

BB • • Industrial / General

TechnologyInfrastructure SoftwareCybersecurity & Identity ManagementEndpoint Security & Threat Protection

AboutBlackBerry 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. It also provides BlackBerry Spark Unified Endpoint Management Suite, such as BlackBerry UEM, a central software component of its secure communications platform; BlackBerry Dynamics that provides a development platform and secure container for mobile applications; BlackBerry AtHoc and BlackBerry Alert secure and networked critical event management solutions; and SecuSUITE for Government, a multi-OS voice and text messaging solution, as well as BBM Enterprise, an enterprise-grade secure instant messaging solution. In addition, the company offers BlackBerry QNX, which provides Neutrino operating system and BlackBerry QNX CAR platform, and other products; BlackBerry QNX, an embedded system solution; BlackBerry Jarvis, a cloud-based binary static application security testing platform; BlackBerry Certicom cryptography and management products, and BlackBerry Radar asset monitoring solution; and BlackBerry IVY, an intelligent vehicle data platform, as well as enterprise and cybersecurity consulting services. Further, it is involved in the patent licensing and legacy service access fees business. As of February 28, 2022, it owned approximately 38,000 worldwide patents and applications. BlackBerry Limited was incorporated in 1984 and is headquartered in Waterloo, Canada.Show more

Revenue $535M -29.5%
EBITDA $46M -34.5%
Net Income -$79M +39.3%
EPS (Diluted) -0.13 +40.9%
Gross Margin 73.83% +14.2%
EBITDA Margin 8.51% -7.1%
Operating Margin 0.15% -89.7%
Net Margin -14.77% +13.9%
ROE -10.59% +33.6%
ROIC 0.08% -91.2%
Debt/Equity 0.33 +2.7%
Interest Coverage 0.13 -93.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Sales declining 12.5% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-16.72%

5Y-12.45%

3Y-9.35%

TTM-9.3%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM97.96%

EPS CAGR

10Y-

5Y-

3Y-

TTM96.92%

ROCE

10Y Avg-8.64%

5Y Avg-11.02%

3Y Avg-4.02%

Latest0.08%

Peer Comparison

Endpoint Security & Threat Protection

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RPDRapid7, Inc.	870.89M	13.30	33.25	8.53%	2.19%	14.76%	19.32%	57.49
QLYSQualys, Inc.	4.8B	133.79	28.77	9.58%	28.96%	35.73%	4.83%	0.10
GENGen Digital Inc.	16.27B	26.38	25.61	3.55%	12.74%	23.2%	7.41%	3.66
CISOCISO Global Inc.	22.82M	0.52	-0.26	-46.11%	-41.01%	-69.62%		10.72
RBRKRubrik, Inc.	10.49B	69.05	-9.23	41.19%	-31.48%		0.3%
SSentinelOne, Inc.	4.69B	14.08	-15.30	32.25%	-43.04%	-26.54%	0.14%	0.01
BBBlackBerry Limited	2.31B	3.92	-30.15	-29.54%	-0.52%	-10.59%	0.28%	0.33
TENBTenable Holdings, Inc.	2.7B	22.63	-73	12.68%	-3.44%	-9.73%	7.9%	1.06

Profit & Loss

	Feb 2016	Feb 2017	Feb 2018	Feb 2019	Feb 2020	Feb 2021	Feb 2022	Feb 2023	Feb 2024	Feb 2025
Sales/Revenue+	2.16B	1.31B	932M	904M	1.04B	893M	718M	526.3M	759.1M	534.9M
Revenue Growth %	-0.35%	-0.39%	-0.29%	-0.03%	0.15%	-0.14%	-0.2%	-0.27%	0.44%	-0.3%
Cost of Goods Sold+	1.22B	692M	262M	206M	277M	250M	251M	159.7M	268.4M	140M
COGS % of Revenue	0.56%	0.53%	0.28%	0.23%	0.27%	0.28%	0.35%	0.3%	0.35%	0.26%
Gross Profit+	941M	617M	670M	698M	763M	643M	467M	366.6M	490.7M	394.9M
Gross Margin %	0.44%	0.47%	0.72%	0.77%	0.73%	0.72%	0.65%	0.7%	0.65%	0.74%
Gross Profit Growth %	-0.41%	-0.34%	0.09%	0.04%	0.09%	-0.16%	-0.27%	-0.21%	0.34%	-0.2%
Operating Expenses+	1.16B	1.8B	387M	638M	912M	1.75B	469M	573.4M	479.7M	394.1M
OpEx % of Revenue	0.54%	1.37%	0.42%	0.71%	0.88%	1.96%	0.65%	1.09%	0.63%	0.74%
Selling, General & Admin	653M	553M	476M	409M	493M	344M	297M	274.6M	291.2M	255.2M
SG&A % of Revenue	0.3%	0.42%	0.51%	0.45%	0.47%	0.39%	0.41%	0.52%	0.38%	0.48%
Research & Development	469M	306M	239M	219M	259M	215M	219M	134.2M	127.1M	108.8M
R&D % of Revenue	0.22%	0.23%	0.26%	0.24%	0.25%	0.24%	0.31%	0.25%	0.17%	0.2%
Other Operating Expenses	42M	939M	-328M	10M	160M	1.19B	-47M	164.6M	61.4M	30.1M
Operating Income+	-223M	-1.18B	283M	60M	-149M	-1.11B	-2M	-206.8M	11M	800K
Operating Margin %	-0.1%	-0.9%	0.3%	0.07%	-0.14%	-1.24%	-0%	-0.39%	0.01%	0%
Operating Income Growth %	0.47%	-4.3%	1.24%	-0.79%	-3.48%	-6.43%	1%	-102.4%	1.05%	-0.93%
EBITDA+	393M	-942M	460M	209M	63M	-909M	174M	-102.1M	69.5M	45.5M
EBITDA Margin %	0.18%	-0.72%	0.49%	0.23%	0.06%	-1.02%	0.24%	-0.19%	0.09%	0.09%
EBITDA Growth %	0.45%	-3.4%	1.49%	-0.55%	-0.7%	-15.43%	1.19%	-1.59%	1.68%	-0.35%
D&A (Non-Cash Add-back)	616M	239M	177M	149M	212M	198M	176M	104.7M	58.5M	44.7M
EBIT	-458M	-428M	-198M	-66M	-183M	-98M	-214M	-195.4M	35.4M	14.5M
Net Interest Income+	0	0	0	0	0	0	0	-6.4M	-5.6M	-6M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	6.4M	5.6M	6M
Other Income/Expense	-59M	-27M	123M	17M	1M	-6M	21M	5M	18.8M	7.7M
Pretax Income+	-282M	-1.21B	406M	77M	-148M	-1.11B	19M	-201.8M	29.8M	8.5M
Pretax Margin %	-0.13%	-0.92%	0.44%	0.09%	-0.14%	-1.25%	0.03%	-0.38%	0.04%	0.02%
Income Tax+	-74M	-2M	1M	-16M	4M	-9M	7M	13.7M	24.2M	17M
Effective Tax Rate %	0.74%	1%	1%	1.21%	1.03%	0.99%	0.63%	3.64%	-4.37%	-9.29%
Net Income+	-208M	-1.21B	405M	93M	-152M	-1.1B	12M	-734.4M	-130.2M	-79M
Net Margin %	-0.1%	-0.92%	0.43%	0.1%	-0.15%	-1.24%	0.02%	-1.4%	-0.17%	-0.15%
Net Income Growth %	0.32%	-4.8%	1.34%	-0.77%	-2.63%	-6.26%	1.01%	-62.2%	0.82%	0.39%
Net Income (Continuing)	-208M	-1.21B	405M	93M	-152M	-1.1B	12M	-215.5M	5.6M	-8.5M
Discontinued Operations	0	0	0	0	0	0	0	-518.9M	-135.8M	-70.5M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.32	-2.30	0.74	0.15	-0.25	-1.97	0.02	-1.15	-0.22	-0.13
EPS Growth %	0.45%	-6.19%	1.32%	-0.8%	-2.67%	-6.88%	1.01%	-61.53%	0.81%	0.41%
EPS (Basic)	-0.40	-2.30	0.76	0.17	-0.27	-1.97	0.02	-1.27	-0.22	-0.13
Diluted Shares Outstanding	651.3M	525.26M	545.89M	616.47M	614.36M	561.3M	631.44M	639.49M	592.5M	591.47M
Basic Shares Outstanding	526.3M	525.26M	532.89M	540.48M	553.86M	561.3M	570.61M	578.65M	584.54M	591.47M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Feb 2016	Feb 2017	Feb 2018	Feb 2019	Feb 2020	Feb 2021	Feb 2022	Feb 2023	Feb 2024	Feb 2025
Total Current Assets+	3.01B	1.69B	2.55B	1.19B	1.2B	1.01B	1.04B	743M	508M	591.5M
Cash & Short-Term Investments	2.38B	1.38B	2.26B	916M	909M	739M	712M	426M	237.1M	337.8M
Cash Only	957M	734M	816M	548M	377M	214M	378M	295M	175M	266.7M
Short-Term Investments	1.42B	644M	1.44B	368M	532M	525M	334M	131M	62M	70.76M
Accounts Receivable	389M	258M	248M	261M	235M	217M	172M	135M	223.7M	223.7M
Days Sales Outstanding	65.73	71.94	97.12	105.38	82.48	88.7	87.44	93.63	107.56	152.65
Inventory	143M	26M	3M	0	0	0	0	0	0	0
Days Inventory Outstanding	42.82	13.71	4.18	-	-	-	-	-	-	-
Other Current Assets	102M	55M	35M	56M	52M	50M	159M	182M	46.7M	30M
Total Non-Current Assets+	2.52B	1.58B	1.24B	2.73B	2.69B	1.81B	1.52B	936M	887.5M	704.1M
Property, Plant & Equipment	412M	91M	64M	85M	194M	111M	91M	69M	53M	35.4M
Fixed Asset Turnover	5.24x	14.38x	14.56x	10.64x	5.36x	8.05x	7.89x	7.63x	14.32x	15.11x
Goodwill	618M	559M	569M	1.46B	1.44B	849M	844M	595M	474.5M	472.4M
Intangible Assets	1.21B	602M	477M	1.07B	915M	771M	522M	203M	57.5M	47.3M
Long-Term Investments	197M	269M	55M	55M	32M	37M	30M	34M	35.7M	58.9M
Other Non-Current Assets	50M	58M	67M	62M	114M	44M	37M	35M	266.8M	90.1M
Total Assets+	5.53B	3.26B	3.78B	3.93B	3.89B	2.82B	2.57B	1.68B	1.4B	1.3B
Asset Turnover	0.39x	0.40x	0.25x	0.23x	0.27x	0.32x	0.28x	0.31x	0.54x	0.41x
Asset Growth %	-0.15%	-0.41%	0.16%	0.04%	-0.01%	-0.28%	-0.09%	-0.35%	-0.17%	-0.07%
Total Current Liabilities+	1.04B	621M	411M	510M	1.12B	429M	397M	729M	356.9M	344.3M
Accounts Payable	270M	128M	46M	48M	31M	20M	22M	24M	17M	31.1M
Days Payables Outstanding	80.84	67.51	64.08	85.05	40.85	29.2	31.99	54.85	23.12	81.08
Short-Term Debt	0	0	0	0	606M	0	0	367M	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	0	0	20M	20M	3M	64.4M	31M
Current Ratio	2.90x	2.72x	6.20x	2.34x	1.07x	2.34x	2.63x	1.02x	1.42x	1.72x
Quick Ratio	2.76x	2.68x	6.19x	2.34x	1.07x	2.34x	2.63x	1.02x	1.42x	1.72x
Cash Conversion Cycle	27.71	18.14	37.22	-	-	-	-	-	-	-
Total Non-Current Liabilities+	1.29B	618M	864M	822M	238M	885M	614M	93M	263M	231.4M
Long-Term Debt	1.28B	591M	782M	665M	0	720M	507M	0	194.1M	195.3M
Capital Lease Obligations	0	0	0	0	120M	90M	66M	52M	37.8M	28.7M
Deferred Tax Liabilities	10M	9M	6M	2M	0	0	0	0	0	0
Other Non-Current Liabilities	0	18M	23M	19M	9M	6M	4M	1M	16.5M	1.8M
Total Liabilities	2.33B	1.21B	1.27B	1.29B	1.36B	1.31B	1.01B	822M	619M	572.96M
Total Debt+	1.28B	591M	782M	665M	757M	843M	601M	443M	252M	239M
Net Debt	320M	-143M	-34M	117M	380M	629M	223M	148M	77M	-27.7M
Debt / Equity	0.40x	0.29x	0.31x	0.25x	0.30x	0.56x	0.39x	0.52x	0.32x	0.33x
Debt / EBITDA	3.25x	-	1.70x	3.18x	12.02x	-	3.45x	-	3.63x	5.25x
Net Debt / EBITDA	0.81x	-	-0.07x	0.56x	6.03x	-	1.28x	-	1.11x	-0.61x
Interest Coverage	-	-	-	-	-	-	-	-32.31x	1.96x	0.13x
Total Equity+	3.21B	2.06B	2.5B	2.64B	2.53B	1.5B	1.56B	857M	776M	716.47M
Equity Growth %	-0.06%	-0.36%	0.22%	0.05%	-0.04%	-0.41%	0.03%	-0.45%	-0.09%	-0.08%
Book Value per Share	4.93	3.92	4.59	4.28	4.12	2.68	2.46	1.34	1.31	1.21
Total Shareholders' Equity	3.21B	2.06B	2.5B	2.64B	2.53B	1.5B	1.56B	857M	776M	716.47M
Common Stock	2.45B	2.51B	2.56B	2.69B	2.76B	2.82B	2.87B	2.91B	2.95B	2.98B
Retained Earnings	768M	-438M	-45M	-32M	-198M	-1.31B	-1.29B	-2.03B	-2.16B	-2.24B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-8M	-17M	-10M	-20M	-33M	-13M	-19M	-24M	-14M	-19.2M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Feb 2016	Feb 2017	Feb 2018	Feb 2019	Feb 2020	Feb 2021	Feb 2022	Feb 2023	Feb 2024	Feb 2025
Cash from Operations+	257M	-224M	704M	100M	26M	82M	-28M	-263M	-3M	16.5M
Operating CF Margin %	0.12%	-0.17%	0.76%	0.11%	0.03%	0.09%	-0.04%	-0.5%	-0%	0.03%
Operating CF Growth %	-0.68%	-1.87%	4.14%	-0.86%	-0.74%	2.15%	-1.34%	-8.39%	0.99%	6.5%
Net Income	-208M	-1.21B	405M	93M	-152M	-1.1B	12M	-734M	-130M	-79M
Depreciation & Amortization	616M	239M	177M	149M	212M	198M	176M	105M	59M	44.7M
Stock-Based Compensation	60M	60M	49M	67M	63M	44M	36M	34M	33M	25.6M
Deferred Taxes	-105M	33M	-7M	-25M	32M	-3M	0	0	0	0
Other Non-Cash Items	-219M	753M	192M	-169M	-108M	1B	-253M	325M	190M	-9.3M
Working Capital Changes	113M	-103M	-112M	-15M	-21M	-56M	1M	7M	-155M	34.5M
Change in Receivables	200M	157M	49M	-9M	18M	29M	44M	18M	-88.47M	25M
Change in Inventory	-21M	117M	23M	46M	-4M	5M	0	0	0	0
Change in Payables	14M	-167M	-82M	-15M	-17M	-11M	2M	2M	-6.96M	14.2M
Cash from Investing+	-439M	724M	-630M	-375M	-188M	-65M	207M	176M	46M	60.7M
Capital Expenditures	-102M	-69M	-45M	-49M	-44M	-44M	-39M	-41M	-7M	0
CapEx % of Revenue	0.05%	0.05%	0.05%	0.05%	0.04%	0.05%	0.05%	0.08%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4M	95M	-27M	1M	-177M	12M	24M	639.15K	-168.66M	-85.2M
Cash from Financing+	-78M	-722M	2M	5M	7M	-227M	10M	6M	-165M	3.1M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	11M	-16M	8M	0	7M	19M	0	0	36.01K	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	155M	-293M	659M	51M	-18M	38M	-67M	-304M	-23.86M	6.4M
FCF Margin %	0.07%	-0.22%	0.71%	0.06%	-0.02%	0.04%	-0.09%	-0.58%	-0.03%	0.01%
FCF Growth %	-0.49%	-2.89%	3.25%	-0.92%	-1.35%	3.11%	-2.76%	-3.54%	0.92%	1.27%
FCF per Share	0.24	-0.56	1.21	0.08	-0.03	0.07	-0.11	-0.48	-0.04	0.01
FCF Conversion (FCF/Net Income)	-1.24x	0.19x	1.74x	1.08x	-0.17x	-0.07x	-2.33x	0.36x	0.02x	-0.21x
Interest Paid	75M	48M	39M	0	0	0	0	0	0	0
Taxes Paid	30M	10M	6M	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-6.27%	-45.81%	17.76%	3.62%	-5.89%	-54.75%	0.78%	-60.87%	-15.95%	-10.59%
Return on Invested Capital (ROIC)	-4.5%	-32.55%	9.68%	1.72%	-3.95%	-32.93%	-0.08%	-11.14%	0.89%	0.08%
Gross Margin	43.56%	47.14%	71.89%	77.21%	73.37%	72%	65.04%	69.66%	64.64%	73.83%
Net Margin	-9.63%	-92.13%	43.45%	10.29%	-14.62%	-123.63%	1.67%	-139.54%	-17.15%	-14.77%
Debt / Equity	0.40x	0.29x	0.31x	0.25x	0.30x	0.56x	0.39x	0.52x	0.32x	0.33x
Interest Coverage	-	-	-	-	-	-	-	-32.31x	1.96x	0.13x
FCF Conversion	-1.24x	0.19x	1.74x	1.08x	-0.17x	-0.07x	-2.33x	0.36x	0.02x	-0.21x
Revenue Growth	-35.23%	-39.4%	-28.8%	-3%	15.04%	-14.13%	-19.6%	-26.7%	44.23%	-29.54%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Secure Communication	-	-	-	-	-	-	-	-	-	272.6M
Secure Communication Growth	-	-	-	-	-	-	-	-	-	-
IoT	-	-	-	-	-	-	178M	206M	215M	236M
IoT Growth	-	-	-	-	-	-	-	15.73%	4.37%	9.77%
Licensing and Other	-	-	-	-	-	272M	63M	32M	260M	26.3M
Licensing and Other Growth	-	-	-	-	-	-	-76.84%	-49.21%	712.50%	-89.88%
Cybersecurity	-	-	-	-	-	-	477M	418M	378M	-
Cybersecurity Growth	-	-	-	-	-	-	-	-12.37%	-9.57%	-
Software and Services	494M	622M	-	-	-	621M	-	-	-	-
Software and Services Growth	-	25.91%	-	-	-	-	-	-	-	-
Internet Of Things	-	-	-	-	540M	-	-	-	-	-
Internet Of Things Growth	-	-	-	-	-	-	-	-	-	-
Licensing	-	-	-	-	328M	-	-	-	-	-
Licensing Growth	-	-	-	-	-	-	-	-	-	-
BlackBerry Cylance	-	-	-	-	151M	-	-	-	-	-
BlackBerry Cylance Growth	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	-	21M	-	-	-	-	-
Other Growth	-	-	-	-	-	-	-	-	-	-
Enterprise Software and Services	-	-	388M	355M	-	-	-	-	-	-
Enterprise Software and Services Growth	-	-	-	-8.51%	-	-	-	-	-	-
Licensing, IP and Other	-	-	196M	286M	-	-	-	-	-	-
Licensing, IP and Other Growth	-	-	-	45.92%	-	-	-	-	-	-
BlackBerry Technology Solutions	-	-	163M	204M	-	-	-	-	-	-
BlackBerry Technology Solutions Growth	-	-	-	25.15%	-	-	-	-	-	-
Service Access Fees	779M	313M	121M	46M	-	-	-	-	-	-
Service Access Fees Growth	-	-59.82%	-61.34%	-61.98%	-	-	-	-	-	-
Handheld Devices	-	-	64M	13M	-	-	-	-	-	-
Handheld Devices Growth	-	-	-	-79.69%	-	-	-	-	-	-
Hardware and Other	-	374M	-	-	-	-	-	-	-	-
Hardware and Other Growth	-	-	-	-	-	-	-	-	-	-
Hardware	862M	-	-	-	-	-	-	-	-	-
Hardware Growth	-	-	-	-	-	-	-	-	-	-
Other Revenue	25M	-	-	-	-	-	-	-	-	-
Other Revenue Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
North America	-	-	540M	599M	743M	633M	413M	350M	556M	248.7M
North America Growth	-	-	-	10.93%	24.04%	-14.80%	-34.76%	-15.25%	58.86%	-55.27%
EMEA	-	-	278M	222M	221M	197M	234M	222M	172M	188.6M
EMEA Growth	-	-	-	-20.14%	-0.45%	-10.86%	18.78%	-5.13%	-22.52%	9.65%
Other Regions	-	-	-	-	-	63M	71M	84M	125M	97.6M
Other Regions Growth	-	-	-	-	-	-	12.70%	18.31%	48.81%	-21.92%
Latin America	-	-	15M	7M	76M	-	-	-	-	-
Latin America Growth	-	-	-	-53.33%	985.71%	-	-	-	-	-
Asia Pacific	-	-	99M	76M	-	-	-	-	-	-
Asia Pacific Growth	-	-	-	-23.23%	-	-	-	-	-	-
UNITED STATES	714M	572M	-	-	-	-	-	-	-	-
UNITED STATES Growth	-	-19.89%	-	-	-	-	-	-	-	-
Other Countries	621M	312M	-	-	-	-	-	-	-	-
Other Countries Growth	-	-49.76%	-	-	-	-	-	-	-	-
CANADA	238M	146M	-	-	-	-	-	-	-	-
CANADA Growth	-	-38.66%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

BlackBerry Limited (BB) reported $538.2M in revenue for fiscal year 2025. This represents a 97% decrease from $18.42B in 2012.

BlackBerry Limited (BB) saw revenue decline by 29.5% over the past year.

BlackBerry Limited (BB) reported a net loss of $2.8M for fiscal year 2025.

Dividend & Returns

BlackBerry Limited (BB) has a return on equity (ROE) of -10.6%. Negative ROE indicates the company is unprofitable.

BlackBerry Limited (BB) generated $28.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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BlackBerry Limited (BB) 10-Year Financial Performance & Capital Metrics

BB • • Industrial / General

TechnologyInfrastructure SoftwareCybersecurity & Identity ManagementEndpoint Security & Threat Protection

Revenue $535M -29.5%
EBITDA $46M -34.5%
Net Income -$79M +39.3%
EPS (Diluted) -0.13 +40.9%
Gross Margin 73.83% +14.2%
EBITDA Margin 8.51% -7.1%
Operating Margin 0.15% -89.7%
Net Margin -14.77% +13.9%
ROE -10.59% +33.6%
ROIC 0.08% -91.2%
Debt/Equity 0.33 +2.7%
Interest Coverage 0.13 -93.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Sales declining 12.5% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-16.72%

5Y-12.45%

3Y-9.35%

TTM-9.3%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM97.96%

EPS CAGR

10Y-

5Y-

3Y-

TTM96.92%

ROCE

10Y Avg-8.64%

5Y Avg-11.02%

3Y Avg-4.02%

Latest0.08%

Peer Comparison

Endpoint Security & Threat Protection

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RPDRapid7, Inc.	870.89M	13.30	33.25	8.53%	2.19%	14.76%	19.32%	57.49
QLYSQualys, Inc.	4.8B	133.79	28.77	9.58%	28.96%	35.73%	4.83%	0.10
GENGen Digital Inc.	16.27B	26.38	25.61	3.55%	12.74%	23.2%	7.41%	3.66
CISOCISO Global Inc.	22.82M	0.52	-0.26	-46.11%	-41.01%	-69.62%		10.72
RBRKRubrik, Inc.	10.49B	69.05	-9.23	41.19%	-31.48%		0.3%
SSentinelOne, Inc.	4.69B	14.08	-15.30	32.25%	-43.04%	-26.54%	0.14%	0.01
BBBlackBerry Limited	2.31B	3.92	-30.15	-29.54%	-0.52%	-10.59%	0.28%	0.33
TENBTenable Holdings, Inc.	2.7B	22.63	-73	12.68%	-3.44%	-9.73%	7.9%	1.06

Profit & Loss

	Feb 2016	Feb 2017	Feb 2018	Feb 2019	Feb 2020	Feb 2021	Feb 2022	Feb 2023	Feb 2024	Feb 2025
Sales/Revenue+	2.16B	1.31B	932M	904M	1.04B	893M	718M	526.3M	759.1M	534.9M
Revenue Growth %	-0.35%	-0.39%	-0.29%	-0.03%	0.15%	-0.14%	-0.2%	-0.27%	0.44%	-0.3%
Cost of Goods Sold+	1.22B	692M	262M	206M	277M	250M	251M	159.7M	268.4M	140M
COGS % of Revenue	0.56%	0.53%	0.28%	0.23%	0.27%	0.28%	0.35%	0.3%	0.35%	0.26%
Gross Profit+	941M	617M	670M	698M	763M	643M	467M	366.6M	490.7M	394.9M
Gross Margin %	0.44%	0.47%	0.72%	0.77%	0.73%	0.72%	0.65%	0.7%	0.65%	0.74%
Gross Profit Growth %	-0.41%	-0.34%	0.09%	0.04%	0.09%	-0.16%	-0.27%	-0.21%	0.34%	-0.2%
Operating Expenses+	1.16B	1.8B	387M	638M	912M	1.75B	469M	573.4M	479.7M	394.1M
OpEx % of Revenue	0.54%	1.37%	0.42%	0.71%	0.88%	1.96%	0.65%	1.09%	0.63%	0.74%
Selling, General & Admin	653M	553M	476M	409M	493M	344M	297M	274.6M	291.2M	255.2M
SG&A % of Revenue	0.3%	0.42%	0.51%	0.45%	0.47%	0.39%	0.41%	0.52%	0.38%	0.48%
Research & Development	469M	306M	239M	219M	259M	215M	219M	134.2M	127.1M	108.8M
R&D % of Revenue	0.22%	0.23%	0.26%	0.24%	0.25%	0.24%	0.31%	0.25%	0.17%	0.2%
Other Operating Expenses	42M	939M	-328M	10M	160M	1.19B	-47M	164.6M	61.4M	30.1M
Operating Income+	-223M	-1.18B	283M	60M	-149M	-1.11B	-2M	-206.8M	11M	800K
Operating Margin %	-0.1%	-0.9%	0.3%	0.07%	-0.14%	-1.24%	-0%	-0.39%	0.01%	0%
Operating Income Growth %	0.47%	-4.3%	1.24%	-0.79%	-3.48%	-6.43%	1%	-102.4%	1.05%	-0.93%
EBITDA+	393M	-942M	460M	209M	63M	-909M	174M	-102.1M	69.5M	45.5M
EBITDA Margin %	0.18%	-0.72%	0.49%	0.23%	0.06%	-1.02%	0.24%	-0.19%	0.09%	0.09%
EBITDA Growth %	0.45%	-3.4%	1.49%	-0.55%	-0.7%	-15.43%	1.19%	-1.59%	1.68%	-0.35%
D&A (Non-Cash Add-back)	616M	239M	177M	149M	212M	198M	176M	104.7M	58.5M	44.7M
EBIT	-458M	-428M	-198M	-66M	-183M	-98M	-214M	-195.4M	35.4M	14.5M
Net Interest Income+	0	0	0	0	0	0	0	-6.4M	-5.6M	-6M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	6.4M	5.6M	6M
Other Income/Expense	-59M	-27M	123M	17M	1M	-6M	21M	5M	18.8M	7.7M
Pretax Income+	-282M	-1.21B	406M	77M	-148M	-1.11B	19M	-201.8M	29.8M	8.5M
Pretax Margin %	-0.13%	-0.92%	0.44%	0.09%	-0.14%	-1.25%	0.03%	-0.38%	0.04%	0.02%
Income Tax+	-74M	-2M	1M	-16M	4M	-9M	7M	13.7M	24.2M	17M
Effective Tax Rate %	0.74%	1%	1%	1.21%	1.03%	0.99%	0.63%	3.64%	-4.37%	-9.29%
Net Income+	-208M	-1.21B	405M	93M	-152M	-1.1B	12M	-734.4M	-130.2M	-79M
Net Margin %	-0.1%	-0.92%	0.43%	0.1%	-0.15%	-1.24%	0.02%	-1.4%	-0.17%	-0.15%
Net Income Growth %	0.32%	-4.8%	1.34%	-0.77%	-2.63%	-6.26%	1.01%	-62.2%	0.82%	0.39%
Net Income (Continuing)	-208M	-1.21B	405M	93M	-152M	-1.1B	12M	-215.5M	5.6M	-8.5M
Discontinued Operations	0	0	0	0	0	0	0	-518.9M	-135.8M	-70.5M
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.32	-2.30	0.74	0.15	-0.25	-1.97	0.02	-1.15	-0.22	-0.13
EPS Growth %	0.45%	-6.19%	1.32%	-0.8%	-2.67%	-6.88%	1.01%	-61.53%	0.81%	0.41%
EPS (Basic)	-0.40	-2.30	0.76	0.17	-0.27	-1.97	0.02	-1.27	-0.22	-0.13
Diluted Shares Outstanding	651.3M	525.26M	545.89M	616.47M	614.36M	561.3M	631.44M	639.49M	592.5M	591.47M
Basic Shares Outstanding	526.3M	525.26M	532.89M	540.48M	553.86M	561.3M	570.61M	578.65M	584.54M	591.47M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Feb 2016	Feb 2017	Feb 2018	Feb 2019	Feb 2020	Feb 2021	Feb 2022	Feb 2023	Feb 2024	Feb 2025
Total Current Assets+	3.01B	1.69B	2.55B	1.19B	1.2B	1.01B	1.04B	743M	508M	591.5M
Cash & Short-Term Investments	2.38B	1.38B	2.26B	916M	909M	739M	712M	426M	237.1M	337.8M
Cash Only	957M	734M	816M	548M	377M	214M	378M	295M	175M	266.7M
Short-Term Investments	1.42B	644M	1.44B	368M	532M	525M	334M	131M	62M	70.76M
Accounts Receivable	389M	258M	248M	261M	235M	217M	172M	135M	223.7M	223.7M
Days Sales Outstanding	65.73	71.94	97.12	105.38	82.48	88.7	87.44	93.63	107.56	152.65
Inventory	143M	26M	3M	0	0	0	0	0	0	0
Days Inventory Outstanding	42.82	13.71	4.18	-	-	-	-	-	-	-
Other Current Assets	102M	55M	35M	56M	52M	50M	159M	182M	46.7M	30M
Total Non-Current Assets+	2.52B	1.58B	1.24B	2.73B	2.69B	1.81B	1.52B	936M	887.5M	704.1M
Property, Plant & Equipment	412M	91M	64M	85M	194M	111M	91M	69M	53M	35.4M
Fixed Asset Turnover	5.24x	14.38x	14.56x	10.64x	5.36x	8.05x	7.89x	7.63x	14.32x	15.11x
Goodwill	618M	559M	569M	1.46B	1.44B	849M	844M	595M	474.5M	472.4M
Intangible Assets	1.21B	602M	477M	1.07B	915M	771M	522M	203M	57.5M	47.3M
Long-Term Investments	197M	269M	55M	55M	32M	37M	30M	34M	35.7M	58.9M
Other Non-Current Assets	50M	58M	67M	62M	114M	44M	37M	35M	266.8M	90.1M
Total Assets+	5.53B	3.26B	3.78B	3.93B	3.89B	2.82B	2.57B	1.68B	1.4B	1.3B
Asset Turnover	0.39x	0.40x	0.25x	0.23x	0.27x	0.32x	0.28x	0.31x	0.54x	0.41x
Asset Growth %	-0.15%	-0.41%	0.16%	0.04%	-0.01%	-0.28%	-0.09%	-0.35%	-0.17%	-0.07%
Total Current Liabilities+	1.04B	621M	411M	510M	1.12B	429M	397M	729M	356.9M	344.3M
Accounts Payable	270M	128M	46M	48M	31M	20M	22M	24M	17M	31.1M
Days Payables Outstanding	80.84	67.51	64.08	85.05	40.85	29.2	31.99	54.85	23.12	81.08
Short-Term Debt	0	0	0	0	606M	0	0	367M	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	0	0	0	0	0	20M	20M	3M	64.4M	31M
Current Ratio	2.90x	2.72x	6.20x	2.34x	1.07x	2.34x	2.63x	1.02x	1.42x	1.72x
Quick Ratio	2.76x	2.68x	6.19x	2.34x	1.07x	2.34x	2.63x	1.02x	1.42x	1.72x
Cash Conversion Cycle	27.71	18.14	37.22	-	-	-	-	-	-	-
Total Non-Current Liabilities+	1.29B	618M	864M	822M	238M	885M	614M	93M	263M	231.4M
Long-Term Debt	1.28B	591M	782M	665M	0	720M	507M	0	194.1M	195.3M
Capital Lease Obligations	0	0	0	0	120M	90M	66M	52M	37.8M	28.7M
Deferred Tax Liabilities	10M	9M	6M	2M	0	0	0	0	0	0
Other Non-Current Liabilities	0	18M	23M	19M	9M	6M	4M	1M	16.5M	1.8M
Total Liabilities	2.33B	1.21B	1.27B	1.29B	1.36B	1.31B	1.01B	822M	619M	572.96M
Total Debt+	1.28B	591M	782M	665M	757M	843M	601M	443M	252M	239M
Net Debt	320M	-143M	-34M	117M	380M	629M	223M	148M	77M	-27.7M
Debt / Equity	0.40x	0.29x	0.31x	0.25x	0.30x	0.56x	0.39x	0.52x	0.32x	0.33x
Debt / EBITDA	3.25x	-	1.70x	3.18x	12.02x	-	3.45x	-	3.63x	5.25x
Net Debt / EBITDA	0.81x	-	-0.07x	0.56x	6.03x	-	1.28x	-	1.11x	-0.61x
Interest Coverage	-	-	-	-	-	-	-	-32.31x	1.96x	0.13x
Total Equity+	3.21B	2.06B	2.5B	2.64B	2.53B	1.5B	1.56B	857M	776M	716.47M
Equity Growth %	-0.06%	-0.36%	0.22%	0.05%	-0.04%	-0.41%	0.03%	-0.45%	-0.09%	-0.08%
Book Value per Share	4.93	3.92	4.59	4.28	4.12	2.68	2.46	1.34	1.31	1.21
Total Shareholders' Equity	3.21B	2.06B	2.5B	2.64B	2.53B	1.5B	1.56B	857M	776M	716.47M
Common Stock	2.45B	2.51B	2.56B	2.69B	2.76B	2.82B	2.87B	2.91B	2.95B	2.98B
Retained Earnings	768M	-438M	-45M	-32M	-198M	-1.31B	-1.29B	-2.03B	-2.16B	-2.24B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-8M	-17M	-10M	-20M	-33M	-13M	-19M	-24M	-14M	-19.2M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Feb 2016	Feb 2017	Feb 2018	Feb 2019	Feb 2020	Feb 2021	Feb 2022	Feb 2023	Feb 2024	Feb 2025
Cash from Operations+	257M	-224M	704M	100M	26M	82M	-28M	-263M	-3M	16.5M
Operating CF Margin %	0.12%	-0.17%	0.76%	0.11%	0.03%	0.09%	-0.04%	-0.5%	-0%	0.03%
Operating CF Growth %	-0.68%	-1.87%	4.14%	-0.86%	-0.74%	2.15%	-1.34%	-8.39%	0.99%	6.5%
Net Income	-208M	-1.21B	405M	93M	-152M	-1.1B	12M	-734M	-130M	-79M
Depreciation & Amortization	616M	239M	177M	149M	212M	198M	176M	105M	59M	44.7M
Stock-Based Compensation	60M	60M	49M	67M	63M	44M	36M	34M	33M	25.6M
Deferred Taxes	-105M	33M	-7M	-25M	32M	-3M	0	0	0	0
Other Non-Cash Items	-219M	753M	192M	-169M	-108M	1B	-253M	325M	190M	-9.3M
Working Capital Changes	113M	-103M	-112M	-15M	-21M	-56M	1M	7M	-155M	34.5M
Change in Receivables	200M	157M	49M	-9M	18M	29M	44M	18M	-88.47M	25M
Change in Inventory	-21M	117M	23M	46M	-4M	5M	0	0	0	0
Change in Payables	14M	-167M	-82M	-15M	-17M	-11M	2M	2M	-6.96M	14.2M
Cash from Investing+	-439M	724M	-630M	-375M	-188M	-65M	207M	176M	46M	60.7M
Capital Expenditures	-102M	-69M	-45M	-49M	-44M	-44M	-39M	-41M	-7M	0
CapEx % of Revenue	0.05%	0.05%	0.05%	0.05%	0.04%	0.05%	0.05%	0.08%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4M	95M	-27M	1M	-177M	12M	24M	639.15K	-168.66M	-85.2M
Cash from Financing+	-78M	-722M	2M	5M	7M	-227M	10M	6M	-165M	3.1M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	11M	-16M	8M	0	7M	19M	0	0	36.01K	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	155M	-293M	659M	51M	-18M	38M	-67M	-304M	-23.86M	6.4M
FCF Margin %	0.07%	-0.22%	0.71%	0.06%	-0.02%	0.04%	-0.09%	-0.58%	-0.03%	0.01%
FCF Growth %	-0.49%	-2.89%	3.25%	-0.92%	-1.35%	3.11%	-2.76%	-3.54%	0.92%	1.27%
FCF per Share	0.24	-0.56	1.21	0.08	-0.03	0.07	-0.11	-0.48	-0.04	0.01
FCF Conversion (FCF/Net Income)	-1.24x	0.19x	1.74x	1.08x	-0.17x	-0.07x	-2.33x	0.36x	0.02x	-0.21x
Interest Paid	75M	48M	39M	0	0	0	0	0	0	0
Taxes Paid	30M	10M	6M	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-6.27%	-45.81%	17.76%	3.62%	-5.89%	-54.75%	0.78%	-60.87%	-15.95%	-10.59%
Return on Invested Capital (ROIC)	-4.5%	-32.55%	9.68%	1.72%	-3.95%	-32.93%	-0.08%	-11.14%	0.89%	0.08%
Gross Margin	43.56%	47.14%	71.89%	77.21%	73.37%	72%	65.04%	69.66%	64.64%	73.83%
Net Margin	-9.63%	-92.13%	43.45%	10.29%	-14.62%	-123.63%	1.67%	-139.54%	-17.15%	-14.77%
Debt / Equity	0.40x	0.29x	0.31x	0.25x	0.30x	0.56x	0.39x	0.52x	0.32x	0.33x
Interest Coverage	-	-	-	-	-	-	-	-32.31x	1.96x	0.13x
FCF Conversion	-1.24x	0.19x	1.74x	1.08x	-0.17x	-0.07x	-2.33x	0.36x	0.02x	-0.21x
Revenue Growth	-35.23%	-39.4%	-28.8%	-3%	15.04%	-14.13%	-19.6%	-26.7%	44.23%	-29.54%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Secure Communication	-	-	-	-	-	-	-	-	-	272.6M
Secure Communication Growth	-	-	-	-	-	-	-	-	-	-
IoT	-	-	-	-	-	-	178M	206M	215M	236M
IoT Growth	-	-	-	-	-	-	-	15.73%	4.37%	9.77%
Licensing and Other	-	-	-	-	-	272M	63M	32M	260M	26.3M
Licensing and Other Growth	-	-	-	-	-	-	-76.84%	-49.21%	712.50%	-89.88%
Cybersecurity	-	-	-	-	-	-	477M	418M	378M	-
Cybersecurity Growth	-	-	-	-	-	-	-	-12.37%	-9.57%	-
Software and Services	494M	622M	-	-	-	621M	-	-	-	-
Software and Services Growth	-	25.91%	-	-	-	-	-	-	-	-
Internet Of Things	-	-	-	-	540M	-	-	-	-	-
Internet Of Things Growth	-	-	-	-	-	-	-	-	-	-
Licensing	-	-	-	-	328M	-	-	-	-	-
Licensing Growth	-	-	-	-	-	-	-	-	-	-
BlackBerry Cylance	-	-	-	-	151M	-	-	-	-	-
BlackBerry Cylance Growth	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	-	21M	-	-	-	-	-
Other Growth	-	-	-	-	-	-	-	-	-	-
Enterprise Software and Services	-	-	388M	355M	-	-	-	-	-	-
Enterprise Software and Services Growth	-	-	-	-8.51%	-	-	-	-	-	-
Licensing, IP and Other	-	-	196M	286M	-	-	-	-	-	-
Licensing, IP and Other Growth	-	-	-	45.92%	-	-	-	-	-	-
BlackBerry Technology Solutions	-	-	163M	204M	-	-	-	-	-	-
BlackBerry Technology Solutions Growth	-	-	-	25.15%	-	-	-	-	-	-
Service Access Fees	779M	313M	121M	46M	-	-	-	-	-	-
Service Access Fees Growth	-	-59.82%	-61.34%	-61.98%	-	-	-	-	-	-
Handheld Devices	-	-	64M	13M	-	-	-	-	-	-
Handheld Devices Growth	-	-	-	-79.69%	-	-	-	-	-	-
Hardware and Other	-	374M	-	-	-	-	-	-	-	-
Hardware and Other Growth	-	-	-	-	-	-	-	-	-	-
Hardware	862M	-	-	-	-	-	-	-	-	-
Hardware Growth	-	-	-	-	-	-	-	-	-	-
Other Revenue	25M	-	-	-	-	-	-	-	-	-
Other Revenue Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
North America	-	-	540M	599M	743M	633M	413M	350M	556M	248.7M
North America Growth	-	-	-	10.93%	24.04%	-14.80%	-34.76%	-15.25%	58.86%	-55.27%
EMEA	-	-	278M	222M	221M	197M	234M	222M	172M	188.6M
EMEA Growth	-	-	-	-20.14%	-0.45%	-10.86%	18.78%	-5.13%	-22.52%	9.65%
Other Regions	-	-	-	-	-	63M	71M	84M	125M	97.6M
Other Regions Growth	-	-	-	-	-	-	12.70%	18.31%	48.81%	-21.92%
Latin America	-	-	15M	7M	76M	-	-	-	-	-
Latin America Growth	-	-	-	-53.33%	985.71%	-	-	-	-	-
Asia Pacific	-	-	99M	76M	-	-	-	-	-	-
Asia Pacific Growth	-	-	-	-23.23%	-	-	-	-	-	-
UNITED STATES	714M	572M	-	-	-	-	-	-	-	-
UNITED STATES Growth	-	-19.89%	-	-	-	-	-	-	-	-
Other Countries	621M	312M	-	-	-	-	-	-	-	-
Other Countries Growth	-	-49.76%	-	-	-	-	-	-	-	-
CANADA	238M	146M	-	-	-	-	-	-	-	-
CANADA Growth	-	-38.66%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

BlackBerry Limited (BB) reported $538.2M in revenue for fiscal year 2025. This represents a 97% decrease from $18.42B in 2012.

BlackBerry Limited (BB) saw revenue decline by 29.5% over the past year.

BlackBerry Limited (BB) reported a net loss of $2.8M for fiscal year 2025.

Dividend & Returns

BlackBerry Limited (BB) has a return on equity (ROE) of -10.6%. Negative ROE indicates the company is unprofitable.

BlackBerry Limited (BB) generated $28.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.