BlackBerry (LTS:0R0P) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

LTS:0R0P BlackBerry Ltd LTS:0R0P
49 GF Score
Price C$11.00
GF Value C$5.44
Valuation Significantly Overvalued
! 3 Warning Signs
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What is BlackBerry Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


BlackBerry  (LTS:0R0P) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


BlackBerry Cyclically Adjusted PB Ratio Related Terms


BlackBerry Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for BlackBerry's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

BlackBerry Cyclically Adjusted PB Ratio Chart

BlackBerry Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.01 0.78 0.58 1.34 1.07

BlackBerry Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.04 1.01 1.27 1.01 2.69

LTS:0R0P vs MSFT, PLTR, ORCL: Cyclically Adjusted PB Ratio Comparison

For the Software - Infrastructure subindustry, BlackBerry's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


BlackBerry Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, BlackBerry's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where BlackBerry's Cyclically Adjusted PB Ratio falls into.


LTS:0R0P
49GF Score
BlackBerry Ltd LTS:0R0P
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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BlackBerry Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

BlackBerry's Cyclically Adjusted Book per Share for the quarter that ended in May. 2026 is calculated as:

For example, BlackBerry's adjusted Book Value per Share data for the three months ended in May. 2026 was:

Adj_Book=Book Value per Share/CPI of May. 2026 (Change)*Current CPI (May. 2026)
=1.765/134.0005*134.0005
=1.765

Current CPI (May. 2026) = 134.0005.

BlackBerry Quarterly Data

Book Value per Share CPI Adj_Book
201608 5.509 101.686 7.260
201611 5.308 101.607 7.000
201702 5.136 102.476 6.716
201705 6.958 103.108 9.043
201708 6.522 103.108 8.476
201711 5.996 103.740 7.745
201802 5.864 104.688 7.506
201805 5.738 105.399 7.295
201808 5.916 106.031 7.477
201811 6.120 105.478 7.775
201902 6.342 106.268 7.997
201905 6.408 107.927 7.956
201908 6.209 108.085 7.698
201911 6.130 107.769 7.622
202002 6.126 108.559 7.562
202005 4.759 107.532 5.930
202008 4.482 108.243 5.549
202011 4.157 108.796 5.120
202102 3.367 109.745 4.111
202105 3.106 111.404 3.736
202108 2.937 112.668 3.493
202111 3.128 113.932 3.679
202202 3.425 115.986 3.957
202205 3.035 120.016 3.389
202208 3.016 120.569 3.352
202211 3.128 121.675 3.445
202302 2.004 122.070 2.200
202305 2.002 124.045 2.163
202308 1.922 125.389 2.054
202311 1.911 125.468 2.041
202402 1.784 125.468 1.905
202405 1.714 127.601 1.800
202408 1.670 127.838 1.751
202411 1.716 127.838 1.799
202502 1.739 128.786 1.809
202505 1.677 129.813 1.731
202508 1.686 130.208 1.735
202511 1.750 130.682 1.794
202602 1.732 131.077 1.771
202605 1.765 134.001 1.765

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is BlackBerry (LTS:0R0P) Overvalued in 2026?

Based on GuruFocus' analysis, BlackBerry stock appears to be overvalued. The current stock price of C$11.00 is trading 102.2% above its estimated GF Value™ of C$5.44. GuruFocus considers BlackBerry to be Significantly Overvalued.

Key valuation signals for LTS:0R0P:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: C$5.44 vs. price of C$11.00 (102.2% above fair value)
  • GF Score™: 49/100 with 3 warning signs

No single metric tells the full story. See the LTS:0R0P stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


BlackBerry Business Description

Address 2200 University Avenue East, Waterloo, ON, CAN, N2K 0A7
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 communications for enterprises. The firm provides endpoint management and other secure communications software to enterprises, specializing in regulated industries like government and financial institutions. BlackBerry also has a sizable embedded software business primarily serving the automotive market, with some exposure to the industrial market.
49GF Score

Get the complete analysis for LTS:0R0P

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$11.00
Price
C$5.44
GF Value