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BlackBerry Ltd BB

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Stock XNYS Rating as of
$2.94 −0.09 (2.97%)
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As of Delayed Price Closed
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Company Report

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BlackBerry’s Underperforming Security Business Overshadows a Strong Automotive Segment

William Kerwin

We think BlackBerry has positioned itself in rapidly growing markets that benefit from secular trends toward security and connectivity, but we think it has a long way to go to earn a durable competitive advantage. We like the firm’s automotive software portfolio, but see the larger enterprise security business as an underperformer that weighs on results. BlackBerry sells software into enterprise cybersecurity applications and embedded applications like cars. Its products in enterprise security focus on endpoint security. In the automotive market, BlackBerry’s QNX software underpins automotive chips, safety systems, and cabin features.

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Price vs Fair Value

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BB is trading at a 200% premium.
Price
$2.94
Fair Value
$9.50
Uncertainty
Very High
1-Star Price
$6.60
5-Star Price
$1.90
Economic Moat
Srxln
Capital Allocation
Tsdxqtctk

Bulls Say, Bears Say

Bulls

BlackBerry is the leader in embedded automotive software, with its solutions spanning most global OEMs and holding the highest security certifications.

Bears

BlackBerry doesn’t have the scale, breadth, or name recognition to compete in enterprise software with giants like Microsoft and VMware.

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News

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Trading Information

Previous Close Price
$3.03
Day Range
$2.91–3.03
52-Week Range
$2.46–5.75
Bid/Ask
$2.92 / $2.95
Market Cap
$1.74 Bil
Volume/Avg
9.1 Mil / 10.7 Mil

Key Statistics

Price/Earnings (Normalized)
78.45
Price/Sales
2.08
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

BlackBerry, once known for being the world’s largest smartphone manufacturer, is now exclusively a software provider with a stated goal of end-to-end secure communication for enterprises. The firm provides endpoint management and protection to enterprises, specializing in regulated industries like government, as well as embedded software to the automotive, medical, and industrial markets.
Sector
Technology
Industry
Software - Infrastructure
Stock Style Box
Small Core
Total Number of Employees
6,200
Website
https://www.blackberry.com

Competitors

Valuation

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Metric
BB
CSCO
MSFT
Price/Earnings (Normalized)
 78.4511.6836.38
Price/Book Value
 2.304.2612.34
Price/Sales
 2.083.5513.26
Price/Cash Flow
 11.6511.9928.21
Price/Earnings
BB
CSCO
MSFT

Financial Strength

Metric
BB
CSCO
MSFT
Quick Ratio
 1.291.101.02
Current Ratio
 1.431.371.22
Interest Coverage
 −16.6733.7641.49
Quick Ratio
BB
CSCO
MSFT

Profitability

Metric
BB
CSCO
MSFT
Return on Assets (Normalized)
 2.00%17.02%19.65%
Return on Equity (Normalized)
 3.74%38.38%38.71%
Return on Invested Capital (Normalized)
 2.93%30.59%28.79%
Return on Assets
BB
CSCO
MSFT
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