BlackBerry Limited

DB:RI1 Stock Report

Market Cap: €2.0b

BlackBerry Valuation

Is RI1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of RI1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Fair Value: RI1 (€3.3) is trading below our estimate of fair value (€4.03)

Significantly Below Fair Value: RI1 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for RI1?

Key metric: As RI1 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for RI1. This is calculated by dividing RI1's market cap by their current earnings.
What is RI1's PE Ratio?
PE Ratio109.3x
EarningsUS$21.10m
Market CapUS$2.28b

Price to Earnings Ratio vs Peers

How does RI1's PE Ratio compare to its peers?

The above table shows the PE ratio for RI1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average32x
IXX init innovation in traffic systems
28.6x29.56%€476.7m
IVU IVU Traffic Technologies
27.3x9.36%€366.1m
EXL Exasol
36.3x23.49%€67.8m
AOF ATOSS Software
35.8x10.87%€1.7b
RI1 BlackBerry
109.3x29.73%€3.2b

Price-To-Earnings vs Peers: RI1 is expensive based on its Price-To-Earnings Ratio (109.3x) compared to the peer average (32x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does RI1's PE Ratio compare vs other companies in the European Software Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
RI1 109.3xIndustry Avg. 27.2xNo. of Companies19PE020406080100+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: RI1 is expensive based on its Price-To-Earnings Ratio (109.3x) compared to the European Software industry average (27x).

Price to Earnings Ratio vs Fair Ratio

What is RI1's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

RI1 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio109.3x
Fair PE Ratio34.7x

Price-To-Earnings vs Fair Ratio: RI1 is expensive based on its Price-To-Earnings Ratio (109.3x) compared to the estimated Fair Price-To-Earnings Ratio (34.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst RI1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.30
€3.24
-1.78%
4.63%€3.39€3.09n/a2
Jan ’27€3.26
€3.24
-0.79%
4.63%€3.39€3.09n/a2
Dec ’26€3.39
€3.47
+2.23%
1.12%€3.51€3.43n/a2
Nov ’26€4.13
€3.47
-15.95%
1.12%€3.51€3.43n/a2
Oct ’26€4.09
€3.45
-15.56%
0.075%€3.45€3.45n/a2
Sep ’26€3.25
€3.24
-0.20%
6.10%€3.44€3.04n/a2
Aug ’26€3.19
€3.24
+1.68%
6.10%€3.44€3.04n/a2
Jul ’26€3.85
€3.24
-15.82%
6.10%€3.44€3.04n/a2
Jun ’26€3.48
€2.87
-17.63%
15.93%€3.32€2.41n/a2
May ’26€2.92
€2.87
-1.80%
15.93%€3.32€2.41n/a2
Apr ’26€3.50
€3.36
-4.01%
6.53%€3.58€3.14n/a2
Mar ’26€4.53
€3.40
-25.00%
6.92%€3.63€3.16n/a2
Feb ’26€4.23
€3.43
-18.80%
6.63%€3.66€3.21n/a2
Jan ’26€3.69
€2.86
-22.37%
25.69%€3.60€2.13€3.262
Dec ’25€2.47
€2.59
+4.94%
21.14%€3.14€2.05€3.392
Nov ’25€2.06
€2.59
+26.23%
21.14%€3.14€2.05€4.132
Oct ’25€2.34
€2.53
+8.09%
21.10%€3.06€1.99€4.092
Sep ’25€2.12
€3.08
+45.40%
33.85%€4.12€2.04€3.252
Aug ’25€2.22
€3.08
+38.46%
33.85%€4.12€2.04€3.192
Jul ’25€2.32
€3.30
+42.38%
20.02%€4.16€2.56€3.853
Jun ’25€2.53
€3.26
+28.93%
19.16%€4.07€2.55€3.483
May ’25€2.65
€3.26
+23.13%
19.16%€4.07€2.55€2.923
Apr ’25€2.51
€4.07
+62.29%
15.59%€4.54€3.18€3.503
Mar ’25€2.54
€4.07
+60.25%
15.59%€4.54€3.18€4.533
Feb ’25€2.64
€3.94
+49.15%
15.29%€4.38€3.09€4.233
Jan ’25€3.26
€3.94
+20.78%
15.29%€4.38€3.09€3.693
€3.17
Fair Value
3.9% overvalued intrinsic discount
2
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/01/15 07:51
End of Day Share Price 2026/01/15 00:00
Earnings2025/11/30
Annual Earnings2025/02/28

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

BlackBerry Limited is covered by 45 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jim MarroneAccountability Research Corporation
Richard KramerArete Research Services LLP
Luke JunkBaird