Blackberry
BB on NYSE. Blackberry sells software to automakers, governments and regulated industries. Market value $5.3bn.
Price checks use the past 12 months to August 2026. Quality checks use five annual reports, the latest for the year to February 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $1.64 of spare cash in the past 12 months. A savings account pays about $4.
You pay 66.4 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 1 cents a year. Above 10 is good.
Quality score: 28 of 100. Price score: 17 of 100. Our list needs 70 on quality and 60 on price.
$9.58 a share, 207% above its 1-year low
Over the past year the price has ranged from $3.12 to $13.59.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $92 million in the past 12 months, $47 million in the year to February 2026.
| Revenue | |||||
| Revenue | $718m | $526m | $759m | $535m | $549m |
| Operating margin | |||||
| Operating margin | -0.3% | -39.3% | 1.4% | 0.1% | 8.8% |
| Debt to equity | |||||
| Debt to equity | n/a | 0.00 | 0.25 | 0.27 | 0.26 |
| Shares outstanding | |||||
| Shares outstanding | 0.58bn | 0.59bn | 0.60bn | 0.59bn | 0.59bn |
Health checks
- Free cash flow positive2 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)7 of 9
- Profit backed by cash (accruals)Yes
- Debt0.26× equity
- Revenue growth, five yearsShrinking, 9.3% a year
- Buying back its own sharesRoughly flat
The quarter to August 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $163 million last quarter, up 26% on a year ago.
- Profit: $34 million, up 155% on a year ago.
- It keeps 14 cents of each $1 of sales as operating profit, up from 5 cents a year earlier.
- 9% more shares than a year ago. Each share owns a bit less of the company.
- It has $69 million more cash than debt, down from $81 million a year ago.
| Quarter to | Amount |
|---|---|
| November 2024 | $144m |
| February 2025 | Not reported |
| May 2025 | $122m |
| August 2025 | $130m |
| November 2025 | $142m |
| February 2026 | $156m |
| May 2026 | $153m |
| August 2026 | $163m |
| Quarter to | Amount |
|---|---|
| November 2024 | -$11m |
| February 2025 | -$7m |
| May 2025 | $2m |
| August 2025 | $13m |
| November 2025 | $14m |
| February 2026 | $24m |
| May 2026 | $9m |
| August 2026 | $34m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 9 April 2026
- Next quarterly (estimated, 10-Q)
- 24 December 2026
Who owns it
1 long-term investor we follow owns it, down from 2 last quarter. 285 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $4m | <0.1% | Cut |
Sold out this quarter
- Fairfax FinancialPrem WatsaSold out
Largest holders overall
- Legal & General Group$481mAdded
- Voya Investment Management$353mAdded
- T. Rowe Price Investment Management$254mNew
- First Trust Advisors LP$242mAdded
- Vanguard Capital Management$216mAdded
- D. E. Shaw$168mAdded
- Price T Rowe Associates$162mNew
- Hood River Capital Management$148m
- TWO Sigma Investments, LP$136mAdded
- Jane Street Group$117mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- 12002574 CANADA INC.Passive investor6.0%Since 26 September 2025
- Legal & General Group PlcPassive investorat least 5.6%(filed with 4 related holders)Since 31 December 2024
- V. PREM WATSAPassive investorat least 4.5%−1.6 pts(filed with 33 related holders)Since 4 May 2026
- BlackRock, Inc.Passive investorSold down below 5%Since 30 June 2026
- FIFTHDELTA LtdPassive investorSold down below 5%Since 31 December 2024
| Holder | Stake | Since | |
|---|---|---|---|
12002574 CANADA INC. Passive investor | 6.0% | 26 September 2025 | |
Legal & General Group Plc Passive investor | at least 5.6% (filed with 4 related holders) | 31 December 2024 | |
V. PREM WATSA Passive investor | at least 4.5%−1.6 pts (filed with 33 related holders) | 4 May 2026 | |
BlackRock, Inc. Passive investor | Sold down below 5% | 30 June 2026 | |
FIFTHDELTA Ltd Passive investor | Sold down below 5% | 31 December 2024 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 5 sold $7m.
- Kurtz Philip S.CLO & Corp. SecretarySold
- Date
- 2 October 2026
- Shares
- 4,168
- Price
- $9.18
- Value
- $38,262
- GIAMATTEO JOHN JOSEPHCEO & President, Secure Comm., DirectorSold
- Date
- 2 October 2026
- Shares
- 29,272
- Price
- $9.20
- Value
- $269,302
- Foote TimChief Financial OfficerSold
- Date
- 2 October 2026
- Shares
- 3,269
- Price
- $9.20
- Value
- $30,075
- Wall John ChristopherPresident, QNXSold
- Date
- 2 October 2026
- Shares
- 3,474
- Price
- $9.18
- Value
- $31,891
- Armstrong-Owen JenniferSr VP & Chief People OfficerSold
- Date
- 2 October 2026
- Shares
- 2,590
- Price
- $9.20
- Value
- $23,828
- Foote TimChief Financial OfficerSold
- Date
- 1 October 2026
- Shares
- 16,672
- Price
- $9.14
- Value
- $152,382
- Kurtz Philip S.CLO & Corp. SecretarySold
- Date
- 30 September 2026
- Shares
- 30,000
- Price
- $9.14
- Value
- $274,200
- Kurtz Philip S.CLO & Corp. SecretarySold
- Date
- 14 July 2026
- Shares
- 30,000
- Price
- $11.32
- Value
- $339,600
- GIAMATTEO JOHN JOSEPHCEO & President, Secure Comm., DirectorSold
- Date
- 9 July 2026
- Shares
- 152,012
- Price
- $11.35
- Value
- $2m
- Armstrong-Owen JenniferSr VP & Chief People OfficerSold
- Date
- 9 July 2026
- Shares
- 3,296
- Price
- $10.92
- Value
- $35,992
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 2 October 2026 | Kurtz Philip S. CLO & Corp. Secretary | Sold | 4,168 | $9.18 | $38,262 |
| 2 October 2026 | GIAMATTEO JOHN JOSEPH CEO & President, Secure Comm., Director | Sold | 29,272 | $9.20 | $269,302 |
| 2 October 2026 | Foote Tim Chief Financial Officer | Sold | 3,269 | $9.20 | $30,075 |
| 2 October 2026 | Wall John Christopher President, QNX | Sold | 3,474 | $9.18 | $31,891 |
| 2 October 2026 | Armstrong-Owen Jennifer Sr VP & Chief People Officer | Sold | 2,590 | $9.20 | $23,828 |
| 1 October 2026 | Foote Tim Chief Financial Officer | Sold | 16,672 | $9.14 | $152,382 |
| 30 September 2026 | Kurtz Philip S. CLO & Corp. Secretary | Sold | 30,000 | $9.14 | $274,200 |
| 14 July 2026 | Kurtz Philip S. CLO & Corp. Secretary | Sold | 30,000 | $11.32 | $339,600 |
| 9 July 2026 | GIAMATTEO JOHN JOSEPH CEO & President, Secure Comm., Director | Sold | 152,012 | $11.35 | $2m |
| 9 July 2026 | Armstrong-Owen Jennifer Sr VP & Chief People Officer | Sold | 3,296 | $10.92 | $35,992 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 9 Apr 2026, plus the 10-Q filed 24 Sep 2026 and 5 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 9.3% a year.
- It isn't cheap on profits: 66.4× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.