BlackBerry (HAM:RI1) E10: € (As of May. 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.
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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.

HAM:RI1 BlackBerry Ltd HAM:RI1
54 GF Score
Price €7.28
GF Value €3.23
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is BlackBerry E10?

BlackBerry HAM:RI1 -2.71% 54 E10 is € as of May. 2026. GuruFocus rates HAM:RI1 with a GF Score™ of 54/100 and a GF Value™ of €3.23 (Significantly Overvalued). The stock has 3 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

BlackBerry's adjusted earnings per share data for the three months ended in May. 2026 was €0.012. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is for the trailing ten years ended in May. 2026.

During the past 3 years, the average E10 Growth Rate was 27.60% per year. During the past 5 years, the average E10 Growth Rate was 17.30% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of BlackBerry was 83.60% per year. The lowest was -88.30% per year. And the median was -1.75% per year.

As of today (2026-09-22), BlackBerry's current stock price is €7.28. BlackBerry's E10 for the quarter that ended in May. 2026 was . BlackBerry's Shiller PE Ratio of today is .

During the past 13 years, the highest Shiller PE Ratio of BlackBerry was 242.57. The lowest was 24.63. And the median was 41.14.


BlackBerry  (HAM:RI1) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

During the past 13 years, the highest Shiller P/E Ratio of BlackBerry was 242.57. The lowest was 24.63. And the median was 41.14.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


BlackBerry E10 Related Terms


BlackBerry E10 Historical Data

* Premium members only.

The historical data trend for BlackBerry's E10 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 E10 Chart

BlackBerry Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
E10
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BlackBerry Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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HAM:RI1 vs MSFT, PLTR, ORCL: E10 Comparison

For the Software - Infrastructure subindustry, BlackBerry's Shiller PE Ratio, along with its competitors' market caps and Shiller PE 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 Shiller PE Ratio vs Software Industry

For the Software industry and Technology sector, BlackBerry's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where BlackBerry's Shiller PE Ratio falls into.


HAM:RI1
54GF Score
BlackBerry Ltd HAM:RI1
E10 is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BlackBerry E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

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.

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

Adj_EPS= Earnings per Share (Diluted) /CPI of May. 2026 (Change)*Current CPI (May. 2026)
=0.0123/134.0005*134.0005
=0.012

Current CPI (May. 2026) = 134.0005.

BlackBerry Quarterly Data

per share eps CPI Adj_EPS
201608 -0.636 101.686 -0.838
201611 -0.200 101.607 -0.264
201702 -0.085 102.476 -0.111
201705 1.135 103.108 1.475
201708 -0.061 103.108 -0.079
201711 -0.441 103.740 -0.569
201802 -0.015 104.688 -0.020
201805 -0.091 105.399 -0.115
201808 -0.034 106.031 -0.043
201811 -0.006 105.478 -0.007
201902 0.074 106.268 0.093
201905 -0.083 107.927 -0.103
201908 -0.089 108.085 -0.110
201911 -0.068 107.769 -0.084
202002 -0.067 108.559 -0.082
202005 -1.042 107.532 -1.299
202008 -0.036 108.243 -0.044
202011 -0.196 108.796 -0.241
202102 -0.459 109.745 -0.560
202105 -0.091 111.404 -0.110
202108 -0.213 112.668 -0.254
202111 -0.046 113.932 -0.055
202202 -0.028 115.986 -0.032
202205 -0.327 120.016 -0.365
202208 -0.094 120.569 -0.105
202211 -0.091 121.675 -0.100
202302 -0.798 122.070 -0.876
202305 -0.017 124.045 -0.019
202308 -0.066 125.389 -0.070
202311 -0.034 125.468 -0.036
202402 -0.088 125.468 -0.094
202405 -0.065 127.601 -0.068
202408 -0.031 127.838 -0.032
202411 -0.016 127.838 -0.017
202502 -0.028 128.786 -0.030
202505 0.003 129.813 0.003
202508 0.019 130.208 0.020
202511 0.020 130.682 0.020
202602 0.032 131.077 0.033
202605 0.012 134.001 0.012

Add all the adjusted EPS together and divide 10 will get our e10.

Frequently Asked Questions Learn more about E10 →
What does a E10 of € mean?
BlackBerry (HAM:RI1) has a E10 of € as of May. 2026. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on BlackBerry and its competitors.
Is BlackBerry's E10 too high?
BlackBerry's current E10 is €. Overall, BlackBerry has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BlackBerry's E10 compare to MSFT and PLTR?
BlackBerry's E10 of € can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good E10 for a Software company?
A good E10 depends on the Software industry context. However, E10 should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high E10 mean?
A high E10 can signal that a stock is expensive relative to its fundamentals. E10 represents the company's inflation-adjusted earnings per share over a 10-year period. View historical data on BlackBerry and its competitors. BlackBerry's current E10 is €. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BlackBerry stock overvalued right now?
Based on GuruFocus' analysis, BlackBerry (HAM:RI1) is currently considered Significantly Overvalued. The stock's GF Value™ is €3.23, compared to a current price of €7.28 — trading 125.4% above its estimated fair value. The current E10 is €. BlackBerry's overall GF Score™ is 54/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is E10 calculated?
E10 is calculated from a company's financial statements. For BlackBerry (HAM:RI1), the current E10 is € as of May. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is BlackBerry (HAM:RI1) Overvalued in 2026?

Based on GuruFocus' analysis, BlackBerry stock appears to be overvalued. The current stock price of €7.28 is trading 125.4% above its estimated GF Value™ of €3.23. GuruFocus considers BlackBerry to be Significantly Overvalued.

Key valuation signals for HAM:RI1:

  • E10:
  • GF Value™: €3.23 vs. price of €7.28 (125.4% above fair value)
  • GF Score™: 54/100 with 3 warning signs

No single metric tells the full story. See the HAM:RI1 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.
54GF Score

Get the complete analysis for HAM:RI1

E10 is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€7.28
Price
€3.23
GF Value