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BlackBerry

TSX:BB
Snowflake Description

Adequate balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BB
TSX
CA$7B
Market Cap
  1. Home
  2. CA
  3. Software
Company description

BlackBerry Limited provides enterprise software and services worldwide. The last earnings update was 13 days ago. More info.


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BB Share Price and Events
7 Day Returns
-1.4%
TSX:BB
-2%
CA Software
0.6%
CA Market
1 Year Returns
-8.2%
TSX:BB
14.9%
CA Software
3.6%
CA Market
BB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BlackBerry (BB) -1.4% -0.9% 18.5% -8.2% 36.5% 52.2%
CA Software -2% 2.6% 21.5% 14.9% 83.7% 178.3%
CA Market 0.6% 1.9% 8.1% 3.6% 14.8% 6.7%
1 Year Return vs Industry and Market
  • BB underperformed the Software industry which returned 14.9% over the past year.
  • BB underperformed the Market in Canada which returned 3.6% over the past year.
Price Volatility
BB
Industry
5yr Volatility vs Market

Value

 Is BlackBerry undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of BlackBerry to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for BlackBerry.

TSX:BB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.3%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:BB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Software Unlevered Beta Simply Wall St/ S&P Global 0.77
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.774 (1 + (1- 26.5%) (13.17%))
0.898
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (0.898 * 5.96%)
7.3%

Discounted Cash Flow Calculation for TSX:BB using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BlackBerry is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:BB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.3%)
2019 -269.73 Analyst x4 -251.37
2020 183.73 Analyst x3 159.58
2021 256.77 Analyst x3 207.84
2022 191.63 Est @ -25.37% 144.56
2023 158.72 Est @ -17.17% 111.58
2024 140.56 Est @ -11.44% 92.09
2025 130.13 Est @ -7.42% 79.46
2026 124.13 Est @ -4.61% 70.64
2027 120.85 Est @ -2.64% 64.09
2028 119.32 Est @ -1.27% 58.97
Present value of next 10 years cash flows $737.43
TSX:BB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $119.32 × (1 + 1.95%) ÷ (7.3% – 1.95%)
$2,271.71
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,271.71 ÷ (1 + 7.3%)10
$1,122.78
TSX:BB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $737.43 + $1,122.78
$1,860.21
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,860.21 / 547.36
$3.4
TSX:BB Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:BB)
1.338
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $3.4 x 1.338
CA$4.55
Value per share (CAD) From above. CA$4.55
Current discount Discount to share price of CA$12.34
= -1 x (CA$12.34 - CA$4.55) / CA$4.55
-171.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of BlackBerry is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BlackBerry's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BlackBerry's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:BB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-02-28) in USD $0.17
TSX:BB Share Price ** TSX (2019-04-18) in CAD CA$12.34
TSX:BB Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.748 $9.23
Canada Software Industry PE Ratio Median Figure of 15 Publicly-Listed Software Companies 47.98x
Canada Market PE Ratio Median Figure of 554 Publicly-Listed Companies 15.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of BlackBerry.

TSX:BB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:BB Share Price ÷ EPS (both in USD)

= 9.23 ÷ 0.17

53.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BlackBerry is overvalued based on earnings compared to the CA Software industry average.
  • BlackBerry is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does BlackBerry's expected growth come at a high price?
Raw Data
TSX:BB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 53.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
-82.9%per year
Canada Software Industry PEG Ratio Median Figure of 9 Publicly-Listed Software Companies 3.42x
Canada Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

TSX:BB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 53.62x ÷ -82.9%

-0.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BlackBerry earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BlackBerry's assets?
Raw Data
TSX:BB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-02-28) in USD $4.82
TSX:BB Share Price * TSX (2019-04-18) in CAD CA$12.34
TSX:BB Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.748 $9.23
Canada Software Industry PB Ratio Median Figure of 72 Publicly-Listed Software Companies 3.17x
Canada Market PB Ratio Median Figure of 2,370 Publicly-Listed Companies 1.51x
TSX:BB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:BB Share Price ÷ Book Value per Share (both in USD)

= 9.23 ÷ 4.82

1.92x

* Primary Listing of BlackBerry.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BlackBerry is good value based on assets compared to the CA Software industry average.
X
Value checks
We assess BlackBerry's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. BlackBerry has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is BlackBerry expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-82.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BlackBerry expected to grow at an attractive rate?
  • BlackBerry's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.9%.
Growth vs Market Checks
  • BlackBerry's earnings are expected to decrease over the next 1-3 years, this is below the Canada market average.
  • BlackBerry's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:BB Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:BB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts -82.9%
TSX:BB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 13.7%
Canada Software Industry Earnings Growth Rate Market Cap Weighted Average -1.5%
Canada Software Industry Revenue Growth Rate Market Cap Weighted Average 13.5%
Canada Market Earnings Growth Rate Market Cap Weighted Average 18.4%
Canada Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:BB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:BB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-02-28 1,361 -75 4
2021-02-28 1,258 175 -36 15
2020-02-29 1,143 138 -90 15
TSX:BB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-02-28 904 100 93
2018-11-30 882 -80 32
2018-08-31 882 -141 -302
2018-05-31 910 -166 -326
2018-02-28 932 704 405
2017-11-30 985 884 368
2017-08-31 1,048 736 526
2017-05-31 1,144 700 135
2017-02-28 1,309 -224 -1,206
2016-11-30 1,487 -242 -1,397
2016-08-31 1,746 -80 -1,369
2016-05-31 1,902 62 -946

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BlackBerry's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • BlackBerry's revenue is expected to grow by 13.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:BB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from BlackBerry Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:BB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-02-28
2021-02-28 -0.10 0.04 -0.27 3.00
2020-02-29 -0.24 -0.01 -0.46 2.00
TSX:BB Past Financials Data
Date (Data in USD Millions) EPS *
2019-02-28 0.17
2018-11-30 0.06
2018-08-31 -0.56
2018-05-31 -0.61
2018-02-28 0.76
2017-11-30 0.69
2017-08-31 0.99
2017-05-31 0.26
2017-02-28 -2.30
2016-11-30 -2.67
2016-08-31 -2.61
2016-05-31 -1.80

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • BlackBerry is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess BlackBerry's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
BlackBerry has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has BlackBerry performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare BlackBerry's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • BlackBerry has delivered over 20% year on year earnings growth in the past 5 years.
  • BlackBerry's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • BlackBerry's 1-year earnings growth is negative, it can't be compared to the CA Software industry average.
Earnings and Revenue History
BlackBerry's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from BlackBerry Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:BB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-02-28 904.00 93.00 387.00 217.00
2018-11-30 882.00 32.00 397.00 223.00
2018-08-31 882.00 -302.00 407.00 227.00
2018-05-31 910.00 -326.00 400.00 235.00
2018-02-28 932.00 405.00 391.00 234.00
2017-11-30 985.00 368.00 241.00 230.00
2017-08-31 1,048.00 526.00 262.00 247.00
2017-05-31 1,144.00 135.00 283.00 273.00
2017-02-28 1,309.00 -1,206.00 318.00 302.00
2016-11-30 1,487.00 -1,397.00 294.00 338.00
2016-08-31 1,746.00 -1,369.00 316.00 360.00
2016-05-31 1,902.00 -946.00 333.00 383.00
2016-02-29 2,160.00 -208.00 653.00 469.00
2015-11-28 2,356.00 58.00 514.00 458.00
2015-08-29 2,601.00 -1.00 537.00 510.00
2015-05-30 3,027.00 -259.00 592.00 569.00
2015-02-28 3,335.00 -304.00 540.00 641.00
2014-11-29 3,651.00 -755.00 841.00 737.00
2014-08-30 4,051.00 -5,008.00 1,059.00 872.00
2014-05-31 4,708.00 -5,766.00 1,340.00 1,058.00
2014-03-01 6,813.00 -5,873.00 1,770.00 1,210.00
2013-11-30 8,514.00 -5,356.00 2,007.00 1,366.00
2013-08-31 10,048.00 -938.00 2,040.00 1,450.00
2013-06-01 11,336.00 -202.00 2,124.00 1,463.00
2013-03-02 11,073.00 -628.00 2,014.00 1,482.00
2012-12-01 12,577.00 -840.00 2,080.00 1,465.00
2012-09-01 15,016.00 -592.00 2,228.00 1,462.00
2012-06-02 16,323.00 -34.00 2,355.00 1,477.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • BlackBerry has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BlackBerry used its assets less efficiently than the CA Software industry average last year based on Return on Assets.
  • It is difficult to establish if BlackBerry improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess BlackBerry's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
BlackBerry has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is BlackBerry's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up BlackBerry's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BlackBerry is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BlackBerry's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of BlackBerry's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from BlackBerry Company Filings, last reported 1 month ago.

TSX:BB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-02-28 2,636.00 665.00 916.00
2018-11-30 2,519.00 665.00 2,318.00
2018-08-31 2,440.00 739.00 2,264.00
2018-05-31 2,376.00 810.00 2,245.00
2018-02-28 2,505.00 782.00 2,259.00
2017-11-30 2,496.00 816.00 2,423.00
2017-08-31 2,759.00 739.00 2,352.00
2017-05-31 2,738.00 809.00 2,211.00
2017-02-28 2,057.00 591.00 1,378.00
2016-11-30 2,092.00 607.00 1,289.00
2016-08-31 2,198.00 1,329.00 2,100.00
2016-05-31 2,554.00 1,253.00 2,233.00
2016-02-29 3,208.00 1,277.00 2,377.00
2015-11-28 3,454.00 1,317.00 2,298.00
2015-08-29 3,537.00 1,322.00 3,020.00
2015-05-30 3,513.00 1,550.00 2,964.00
2015-02-28 3,431.00 1,707.00 2,891.00
2014-11-29 3,335.00 1,657.00 2,771.00
2014-08-30 3,475.00 1,507.00 2,701.00
2014-05-31 3,673.00 1,340.00 2,685.00
2014-03-01 3,625.00 1,627.00 2,529.00
2013-11-30 4,031.00 994.00 3,062.00
2013-08-31 8,424.00 0.00 2,344.00
2013-06-01 9,399.00 0.00 2,824.00
2013-03-02 9,460.00 0.00 2,654.00
2012-12-01 9,342.00 0.00 2,731.00
2012-09-01 9,372.00 0.00 2,065.00
2012-06-02 9,608.00 0.00 1,938.00
  • BlackBerry's level of debt (25.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (44.9% vs 25.2% today).
  • Debt is not well covered by operating cash flow (15%, less than 20% of total debt).
  • Unable to confirm if the interest payments on BlackBerry's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess BlackBerry's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BlackBerry has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is BlackBerry's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from BlackBerry dividends. Estimated to be 0% next year.
If you bought CA$2,000 of BlackBerry shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate BlackBerry's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate BlackBerry's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:BB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
North America Software Industry Average Dividend Yield Market Cap Weighted Average of 27 Stocks 1.5%
Canada Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2%
Canada Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:BB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-02-28 0.00 3.00
2021-02-28 0.00 4.00
2020-02-29 0.00 3.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as BlackBerry has not reported any payouts.
  • Unable to verify if BlackBerry's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of BlackBerry's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as BlackBerry has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of BlackBerry's dividends in 3 years as they are not expected to pay a notable one for Canada.
X
Income/ dividend checks
We assess BlackBerry's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BlackBerry afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BlackBerry has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of BlackBerry's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
John Chen
COMPENSATION $3,013,500
AGE 62
TENURE AS CEO 5.4 years
CEO Bio

Mr. John S. Chen has been an Executive Chairman at BlackBerry Limited since November 4, 2013 and has been its Chief Executive Officer since November 4, 2013. He serves as an Advisor of WI Harper Group. Mr. Chen is active in the international policy arena and US-Asia relations. Mr. Chen served as Interim Chief Executive Officer of BlackBerry from November 4, 2013 to January 2014. He held a series of executive positions at Burroughs Corp. He served as the Chief Executive Officer, Chairman and President at Sybase, Inc. from November 1998 to October 31, 2012. He is widely credited with saving Sybase from bankruptcy. He served as the President at Sybase 365, LLC. Mr. Chen served as Co-Chief Executive Officer at Sybase, Inc. from February 1998 to November 1998, where he joined in August 1997 as the Chief Operating Officer and served in that capacity until February 1998. He served as a Director of Sybase Inc., from 1997 to October 31, 2012. Mr. Chen’s leadership was instrumental in establishing Sybase as a recognized industry leader in enterprise mobility infrastructure, augmenting Sybase’s roots in database software. He served as the Chief Executive Officer and President of Siemens Pyramid of Siemens Nixdorf Informationssysteme AG. From March 1995 to July 1997, Mr. Chen served as the President of the Open Enterprise Computing Division, Siemens Nixdorf and Chief Executive Officer and Chairman at Siemens Pyramid. From 1991 to 1997, he served in a variety of positions with Siemens Nixdorf and at Pyramid Technology Corp. including as an Executive Vice President from August 1991 to September 1992 and its President and Chief Operating Officer since 1993. Mr. Chen held various management and executive positions with Unisys Corporation for 12 years, where he started his career as a Design Engineer and the last position being held as Vice President and General Manager of its UNIX Systems Group. He served as Vice President and General Manager of its RISC Technology Platform Division. Mr. Chen served as a Special Advisor at Silver Lake since November 5, 2012 and is part of the Value Creation group. Mr. Chen has been an Executive Director at BlackBerry Limited since November 04, 2013. Mr. Chen was an Independent Director of Wells Fargo & Company since September 26, 2006 until April 24, 2018. He served as an Independent Director at The Walt Disney Company since January 2004 until March 07, 2019. Mr. Chen serves as a Director of U.S. Chamber of Commerce. He served as a Director New Era of Networks, Inc. Mr. Chen served as a Director at CIT Group Inc., since July 1, 2002 and TurboLinux US since September 2000. He served as a Director of Pyramid Technology Corp. since 1993. He served on the boards of Beyond.com, Niku Corporation and Wafer Technology. Mr. Chen is a Trustee of Caltech. He is a national Trustee of The First Tee and a governor of the San Francisco Symphony. He Chaired the U.S.-China Policy Advisory Roundtable for the Center for Strategic and International Studies. In 2005, U.S. President George W. Bush appointed him to serve on the President’s Export Council. He is actively involved in international relations and has testified before Congress on U.S.-China trade relations. Mr. Chen has deep roots in the technology sector, with more than three decades of operational experience, as well as expertise on a range of political and economic policy issues, especially in Asia. He has received awards from distinguished organizations such as the U.S.-Asia Institute and the U.S.-China Policy Foundation. He was recognized as one of the Top 25 Notable Chinese-Americans in Business by the Forbes magazine. Mr. Chen has received awards from the US-Asia Institute, the U.S.-China Policy Foundation and the California-Asia Business Council. For his corporate Board work, he was honored by the U.S.-Pan Asian American Chamber of Commerce Education Foundation. Mr. Chen holds an honorary professorship from Shanghai University. He holds an M.S. in Electrical Engineering from California Institute of Technology and graduated from Brown University magna cum laude with a B.S. degree in Electrical Engineering where he was awarded the Brown Engineering Alumni Medal. Mr. Chen holds honorary doctorates from San Jose State University, City University of Hong Kong and Hong Kong University of Science and Technology.

CEO Compensation
  • John's compensation has been consistent with company performance over the past year.
  • John's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the BlackBerry management team in years:

1.9
Average Tenure
61.5
Average Age
  • The average tenure for the BlackBerry management team is less than 2 years, this suggests a new team.
Management Team

John Chen

TITLE
Executive Chairman & CEO
COMPENSATION
$3M
AGE
62
TENURE
5.4 yrs

Steve Capelli

TITLE
Chief Financial Officer
COMPENSATION
$2M
AGE
60
TENURE
2.5 yrs

Bryan Palma

TITLE
President & COO
TENURE
0.3 yrs

Charles Eagan

TITLE
Chief Technology Officer
TENURE
0.8 yrs

Mike Webber

TITLE
Chief Information Officer & Chief Information Security Officer
TENURE
1.9 yrs

Randall Cook

TITLE
Chief Legal Officer & Corporate Secretary
TENURE
0.7 yrs

Mark Wilson

TITLE
Chief Marketing Officer
TENURE
5.3 yrs

Vito Giallorenzo

TITLE
Senior Vice President of Corporate Development & Strategic Partnership
TENURE
1.5 yrs

Nita White-Ivy

TITLE
Executive Vice President of Human Resources
AGE
71

Billy Ho

TITLE
Executive Vice President of Enterprise Products & Value Added Solutions
COMPENSATION
$2M
AGE
61
TENURE
3.5 yrs
Board of Directors Tenure

Average tenure and age of the BlackBerry board of directors in years:

5.4
Average Tenure
65.5
Average Age
  • The tenure for the BlackBerry board of directors is about average.
Board of Directors

John Chen

TITLE
Executive Chairman & CEO
COMPENSATION
$3M
AGE
62
TENURE
5.4 yrs

Barbara Stymiest

TITLE
Independent Director
COMPENSATION
$211K
AGE
61
TENURE
12.1 yrs

V. Watsa

TITLE
Lead Independent Director
COMPENSATION
$207K
AGE
68
TENURE
5.4 yrs

Tim Dattels

TITLE
Independent Director
COMPENSATION
$192K
AGE
54
TENURE
6.8 yrs

Dick Lynch

TITLE
Independent Director
COMPENSATION
$192K
AGE
69
TENURE
6.2 yrs

Mike Daniels

TITLE
Independent Director
COMPENSATION
$192K
AGE
71
TENURE
4.5 yrs

Laurie Smaldone Alsup

TITLE
Independent Director
COMPENSATION
$192K
AGE
64
TENURE
3.8 yrs

Wayne Wouters

TITLE
Independent Director
COMPENSATION
$192K
AGE
67
TENURE
3.5 yrs
Who owns this company?
Recent Insider Trading
  • BlackBerry insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
04. Feb 19 Sell Carl Wiese Individual 29. Jan 19 29. Jan 19 -10 CA$10.56 CA$-106
25. Dec 18 Buy Michael Daniels Individual 24. Dec 18 24. Dec 18 10,000 CA$9.46 CA$94,573
19. Nov 18 Sell John Chen Individual 16. Nov 18 19. Nov 18 -2,072,441 CA$11.89 CA$-24,530,757
18. Nov 18 Sell John Chen Individual 14. Nov 18 15. Nov 18 -1,537,919 CA$11.88 CA$-18,148,207
04. Oct 18 Sell Sai Ho Individual 03. Oct 18 03. Oct 18 -8,005 CA$13.45 CA$-107,696
04. Oct 18 Sell Nita White-Ivy Individual 29. Sep 18 29. Sep 18 -8,137 CA$13.46 CA$-109,508
11. Sep 18 Sell Jean Cloutier Individual 06. Sep 18 06. Sep 18 -1,000 CA$13.01 CA$-13,005
X
Management checks
We assess BlackBerry's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BlackBerry has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What You Must Know About BlackBerry Limited's (TSE:BB) Financial Health

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like BlackBerry Limited (TSE:BB), with a market cap of CA$6.8b, are often out of the spotlight. … BB’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself.

Simply Wall St -

Who Has Been Selling BlackBerry Limited (TSE:BB) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in BlackBerry Limited (TSE:BB). … Over the last year we saw more insider selling of BlackBerry shares, than buying … It's not too encouraging to see that insiders have sold at below the current price

Simply Wall St -

Is BlackBerry Limited's (TSE:BB) CEO Paid At A Competitive Rate?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does John Chen's Compensation Compare With Similar Sized Companies. … According to our data, BlackBerry Limited has a market capitalization of CA$6.9b, and pays its CEO total annual compensation worth US$3.0m.

Simply Wall St -

The BlackBerry Share Price Is Down 25% So Some Shareholders Are Getting Worried

Given that BlackBerry only made minimal earnings in the last twelve months, we'll focus on revenue to gauge its business development. … As a general rule, if the market is looking past earnings to focus on revenue, there is a hope for, or expectation of, strong growth. … In just one year BlackBerry saw its revenue fall by 10%.

Simply Wall St -

Do Institutions Own Shares In BlackBerry Limited (TSE:BB)?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … With a market capitalization of CA$5.8b, BlackBerry is rather large. … Companies of this size are usually well known to retail investors, too.

Simply Wall St -

Is BlackBerry Limited (TSE:BB) A Financially Strong Company?

Mid-caps stocks, like BlackBerry Limited (TSE:BB) with a market capitalization of CA$5.3b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … Let’s take a look at BB’s debt concentration and assess their financial liquidity to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … Take the survey and be part of one of the most advanced studies of stock market investors to date

Simply Wall St -

Are Insiders Selling BlackBerry Limited (TSE:BB) Stock?

We often see insiders buying up shares in companies that perform well over the long term. … So before you buy or sell BlackBerry Limited (TSE:BB), you may well want to know whether insiders have been buying or selling. … So we know that an insider sold shares at around the present share price of CA$10.28.

Simply Wall St -

Is BlackBerry Limited's (TSE:BB) CEO Pay Justified?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does John Chen's Compensation Compare With Similar Sized Companies. … When we examined a selection of companies with market caps ranging from US$4.0b to US$12.0b, we found the median CEO compensation was US$4m

Simply Wall St -

Should You Buy BlackBerry Limited (TSE:BB)?

received a lot of attention from a substantial price movement on the TSX over the last few months, increasing to CA$16.24 at one point, and dropping to the lows of CA$12.68. … A question to answer is whether BlackBerry's current trading price of CA$13.06 reflective of the actual value of the? … Let’s take a look at BlackBerry’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

June Top Growth Stocks

TSX:BB Future Profit Jun 26th 18 Echelon Financial Holdings Inc. … This prospective profitability should trickle down to shareholders, with analysts expecting the company to generate a positive return on equity of 7.98%. … TSX:TWM Future Profit Jun 26th 18 For more financially robust companies with high growth potential to enhance your portfolio, explore this interactive list of fast growing companies.

Simply Wall St -

Company Info

Description

BlackBerry Limited provides enterprise software and services worldwide. The company offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services. It also provides CylancePROTECT, an endpoint threat prevention solution; CylanceOPTICS, an endpoint detection and response solution; BlackBerry QNX real-time operating systems, middleware, development tools, and professional services; BlackBerry Jarvis, a cloud-based binary static application security testing platform; and BlackBerry Certicom that offers device security, anti-counterfeiting, and product authentication. In addition, the company offers Paratek, which provides adaptive radio frequency antenna tuning technology; and BlackBerry Radar, an asset tracking and telematics solution, as well as intellectual property and licensing, mobility licensing, and other licensing programs. Further, it is involved in developing BlackBerry 10 platform, and delivering BlackBerry productivity applications to Android smartphone; developing and licensing of device software and outsourcing to partners; and providing of Android smartphones, smartphone accessories, and non-warranty repair services. Additionally, the company engages in the operations related to subscribers using mobile devices with its legacy BlackBerry 7 and prior operating systems. The company was formerly known as Research In Motion Limited and changed its name to BlackBerry Limited in July 2013. BlackBerry Limited was founded in 1984 and is headquartered in Waterloo, Canada.

Details
Name: BlackBerry Limited
BB
Exchange: TSX
Founded: 1984
CA$6,754,397,374
547,357,972
Website: http://www.blackberry.com
Address: BlackBerry Limited
2200 University Avenue East,
Waterloo,
Ontario, N2K 0A7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX BB Common Shares The Toronto Stock Exchange CA CAD 21. Oct 1997
NYSE BB Common Shares New York Stock Exchange US USD 21. Oct 1997
DB RI1 Common Shares Deutsche Boerse AG DE EUR 21. Oct 1997
LSE 0R0P Common Shares London Stock Exchange GB CAD 21. Oct 1997
SWX BB Common Shares SIX Swiss Exchange CH CHF 21. Oct 1997
BMV BB N Common Shares Bolsa Mexicana de Valores MX MXN 21. Oct 1997
Number of employees
Current staff
Staff numbers
3,945
BlackBerry employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 23:41
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/09
Last earnings filing: 2019/04/05
Last earnings reported: 2019/02/28
Last annual earnings reported: 2019/02/28


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.