Demonstrações financeiras detalhadas de BlackBerry Limited (BB): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
BlackBerry Limited registou receitas de $549.1M no último exercício, com um CAGR de 5 anos de -9.3%.
Margens dos últimos 12 meses: margem bruta 77.1%, margem operacional 10.8%, margem líquida 10.3%. O fluxo de caixa livre cresceu a CAGR de 4.5% em 5 anos.
Ao preço atual de $7.64, BB negocia a um P/L de 76.40 e um ROE de 8.07%. A capitalização de mercado é de $4.5B.
Demonstração de Resultados (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Receita | $1.31B | $932.0M | $904.0M | $1.04B | $893.0M | $718.0M | $526.3M | $759.1M | $534.9M | $549.1M |
| Custo da Receita | $692.0M | $262.0M | $206.0M | $277.0M | $250.0M | $251.0M | $159.7M | $268.4M | $140.0M | $130.9M |
| Lucro Bruto | $617.0M | $670.0M | $698.0M | $763.0M | $643.0M | $467.0M | $366.6M | $490.7M | $394.9M | $418.2M |
| P&D | $306.0M | $239.0M | $219.0M | $259.0M | $215.0M | $219.0M | $134.2M | $127.1M | $108.8M | $113.6M |
| Despesas Gerais e Administrativas | $553.0M | $476.0M | $409.0M | $493.0M | $344.0M | $297.0M | $274.6M | $291.2M | $255.2M | $242.8M |
| Despesas Operacionais | $1.80B | $387.0M | $638.0M | $912.0M | $1.75B | $681.0M | $573.4M | $479.7M | $394.1M | $367.8M |
| Lucro Operacional | -$1.18B | $283.0M | $60.0M | -$149.0M | -$1.11B | -$214.0M | -$206.8M | $11.0M | $800000 | $50.4M |
| EBITDA | -$189.0M | -$21.0M | $83.0M | $29.0M | $100.0M | -$38.0M | -$90.7M | $93.9M | $59.2M | $82.8M |
| Despesas com Juros | 0 | 0 | 0 | 0 | $15.8M | $5.9M | $6.4M | $5.6M | $6.0M | $6.0M |
| Lucro Antes de Impostos | -$1.21B | $406.0M | $77.0M | -$148.0M | -$1.11B | $19.0M | -$201.8M | $29.8M | $8.5M | $59.0M |
| Imposto | -$2.0M | $1.0M | -$16.0M | $4.0M | -$9.0M | $7.0M | $13.7M | $24.2M | $17.0M | $5.8M |
| Lucro Líquido | -$1.21B | $405.0M | $93.0M | -$152.0M | -$1.10B | $12.0M | -$734.4M | -$130.2M | -$79.0M | $53.2M |
| LPA | $-2.30 | $0.76 | $0.17 | $-0.27 | $-1.97 | $0.02 | $-1.22 | $-0.22 | $-0.13 | $0.09 |
| LPA Diluído | $-2.30 | $0.74 | $0.15 | $-0.25 | $-1.97 | $0.02 | $-1.35 | $-0.22 | $-0.13 | $0.09 |
| Ações em Circulação (Diluídas) | $525.3M | $545.9M | $616.5M | $614.4M | $561.3M | $631.4M | $639.5M | $592.5M | $591.5M | $597.6M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $129.6M | $141.8M | $156.0M | $152.9M |
| Lucro Bruto | $96.6M | $109.9M | $121.4M | $119.7M |
| Lucro Operacional | $11.5M | $11.9M | $23.8M | $15.4M |
| EBITDA | $18.0M | $16.5M | $41.9M | $19.5M |
| Lucro Líquido | $13.3M | $13.7M | $24.3M | $8.5M |
| LPA | $0.02 | $0.02 | $0.04 | $0.01 |
| LPA Diluído | $0.02 | $0.02 | $0.04 | $0.01 |
Balanço (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caixa e Equivalentes | $734.0M | $816.0M | $548.0M | $377.0M | $214.0M | $378.0M | $295.0M | $175.0M | $266.7M | $274.7M |
| Investimentos de Curto Prazo | $644.0M | $1.44B | $368.0M | $532.0M | $525.0M | $334.0M | $131.0M | $62.0M | $71.1M | $85.2M |
| Contas a Receber | $258.0M | $248.0M | $261.0M | $235.0M | $217.0M | $172.0M | $135.0M | $223.7M | $223.7M | $166.1M |
| Estoque | $26.0M | $3.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $1.69B | $2.55B | $1.19B | $1.20B | $1.01B | $1.04B | $743.0M | $508.0M | $591.5M | $568.2M |
| Imobilizado | $91.0M | $64.0M | $85.0M | $194.0M | $111.0M | $91.0M | $69.0M | $53.0M | $35.4M | $29.0M |
| Ágio | $559.0M | $569.0M | $1.46B | $1.44B | $849.0M | $844.0M | $595.0M | $474.5M | $472.4M | $479.1M |
| Ativos Intangíveis | $602.0M | $477.0M | $1.07B | $915.0M | $771.0M | $522.0M | $203.0M | $57.5M | $47.3M | $40.1M |
| Ativos Totais | $3.26B | $3.78B | $3.93B | $3.89B | $2.82B | $2.57B | $1.68B | $1.40B | $1.30B | $1.25B |
| Contas a Pagar | $128.0M | $46.0M | $48.0M | $31.0M | $20.0M | $22.0M | $24.0M | $17.0M | $31.1M | $5.5M |
| Dívida de Curto Prazo | 0 | 0 | 0 | $606.0M | 0 | 0 | $367.0M | 0 | 0 | 0 |
| Passivos Circulantes | $621.0M | $411.0M | $510.0M | $1.12B | $429.0M | $397.0M | $729.0M | $356.9M | $344.3M | $268.1M |
| Dívida de Longo Prazo | $591.0M | $782.0M | $665.0M | 0 | $720.0M | $507.0M | 0 | $194.1M | $195.3M | $196.5M |
| Passivos Totais | $1.21B | $1.27B | $1.29B | $1.36B | $1.31B | $1.01B | $822.0M | $619.0M | $575.7M | $499.2M |
| Reservas | -$438.0M | -$45.0M | -$32.0M | -$198.0M | -$1.31B | -$1.29B | -$2.03B | -$2.16B | -$2.24B | -$2.17B |
| Patrimônio Líquido | $2.06B | $2.50B | $2.64B | $2.53B | $1.50B | $1.56B | $857.0M | $776.0M | $719.9M | $746.0M |
| Dívida Total | $591.0M | $782.0M | $665.0M | $757.0M | $843.0M | $601.0M | $443.0M | $252.0M | $239.0M | $215.3M |
| Dívida Líquida | -$787.0M | -$1.48B | -$251.0M | -$152.0M | $104.0M | -$111.0M | $17.0M | $14.9M | -$98.8M | -$144.6M |
| Capital de Giro | $1.07B | $2.14B | $684.0M | $75.0M | $577.0M | $646.0M | $14.0M | $151.1M | $247.2M | $300.1M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $276.4M | $270.3M | $274.7M | $271.0M |
| Ativos Totais | $1.18B | $1.22B | $1.25B | $1.24B |
| Passivos Totais | $459.0M | $477.3M | $499.2M | $490.0M |
| Patrimônio Líquido | $725.1M | $741.1M | $746.0M | $750.7M |
| Dívida Total | $234.0M | $228.4M | $215.3M | $221.1M |
Fluxo de Caixa (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Lucro Líquido | -$1.21B | $405.0M | $93.0M | -$152.0M | -$1.10B | $12.0M | -$734.4M | -$130.2M | -$79.0M | $53.2M |
| Depreciação e Amortização | $239.0M | $177.0M | $149.0M | $212.0M | $198.0M | $176.0M | $104.7M | $58.5M | $44.7M | $17.8M |
| Compensação em Ações | $60.0M | $49.0M | $67.0M | $63.0M | $44.0M | $36.0M | $33.9M | $33.1M | $25.6M | $23.2M |
| Variação Capital de Giro | -$98.0M | -$112.0M | -$15.0M | -$58.0M | -$56.0M | $1.0M | $6.2M | -$154.3M | $34.5M | -$36.5M |
| Fluxo de Caixa Operacional | -$224.0M | $704.0M | $100.0M | $26.0M | $82.0M | -$28.0M | -$262.2M | -$3.5M | $16.5M | $51.1M |
| CapEx | -$69.0M | -$45.0M | -$49.0M | -$44.0M | -$44.0M | -$39.0M | -$40.9M | -$20.9M | -$10.1M | -$3.9M |
| Aquisições | -$5.0M | 0 | -$1.40B | $1.0M | 0 | 0 | 0 | 0 | 0 | $38.7M |
| Recompra de Ações | 0 | -$18.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$61.7M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | -$293.0M | $659.0M | $51.0M | -$18.0M | $38.0M | -$67.0M | -$303.1M | -$24.4M | $6.4M | $47.3M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $3.9M | $18.2M | $46.8M | $4.6M |
| CapEx | -$2.2M | -$898453 | -$1.2M | -$2.9M |
| Fluxo de Caixa Livre | $1.7M | $17.3M | $45.6M | $1.7M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $5.9M | $6.1M | $5.5M | $6.5M |
Crescimento e Margens (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crescimento Receita (anual) | | -28.8% | -3.0% | +15.0% | -14.1% | -19.6% | -26.7% | +44.2% | -29.5% | +2.7% |
| Crescimento Lucro Líquido (anual) | | +133.6% | -77.0% | -263.4% | -626.3% | +101.1% | -6220.0% | +82.3% | +39.3% | +167.3% |
| Crescimento LPA (anual) | | +133.0% | -77.6% | -258.8% | -629.6% | +101.1% | -5909.5% | +82.0% | +40.9% | +169.2% |
| Variação de Ações (anual) | | +3.9% | +12.9% | -0.3% | -8.6% | +12.5% | +1.3% | -7.3% | -0.2% | +1.0% |
| Crescimento FCF (anual) | | +324.9% | -92.3% | -135.3% | +311.1% | -276.3% | -352.4% | +91.9% | +126.2% | +638.4% |
| Margem Bruta | 47.1% | 71.9% | 77.2% | 73.4% | 72.0% | 65.0% | 69.7% | 64.6% | 73.8% | 76.2% |
| Margem Operacional | -90.2% | 30.4% | 6.6% | -14.3% | -124.0% | -29.8% | -39.3% | 1.4% | 0.1% | 9.2% |
| Margem EBITDA | -14.4% | -2.3% | 9.2% | 2.8% | 11.2% | -5.3% | -17.2% | 12.4% | 11.1% | 15.1% |
| Margem Líquida | -92.1% | 43.5% | 10.3% | -14.6% | -123.6% | 1.7% | -139.5% | -17.2% | -14.8% | 9.7% |
| Margem FCF | -22.4% | 70.7% | 5.6% | -1.7% | 4.3% | -9.3% | -57.6% | -3.2% | 1.2% | 8.6% |
| Taxa Efetiva de Imposto | 0.2% | 0.2% | -20.8% | -2.7% | 0.8% | 36.8% | -6.8% | 81.2% | 200.0% | 9.8% |
Dados por Ação (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Ação | $-0.56 | $1.21 | $0.08 | $-0.03 | $0.07 | $-0.11 | $-0.47 | $-0.04 | $0.01 | $0.08 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $525.3M | $532.9M | $540.5M | $553.9M | $561.3M | $570.6M | $578.7M | $584.5M | $591.5M | $592.3M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | 8.07% |
| Retorno sobre capital investido | 5.39% |
| Retorno sobre ativos | 4.82% |
| Margem bruta | 77.13% |
| Margem operacional | 10.79% |
| Margem líquida | 10.31% |
Saúde financeira
| Dívida / Patrimônio | 0.29 |
| Liquidez corrente | 2.20 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 0.84 |
Índices Chave (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/L | -3.03 | 15.97 | 51.18 | -19.15 | -5.54 | 327.14 | -3.18 | -12.64 | -36.23 | 37.67 |
| P/VP | 1.78 | 2.58 | 1.78 | 1.13 | 4.07 | 2.52 | 2.62 | 2.09 | 3.87 | 2.69 |
| P/V | 2.79 | 6.94 | 5.20 | 2.75 | 6.86 | 5.46 | 4.27 | 2.14 | 5.21 | 3.66 |
| Margem Bruta | 47.1% | 71.9% | 77.2% | 73.4% | 72.0% | 65.0% | 69.7% | 64.6% | 73.8% | 76.2% |
| Margem Operacional | -90.2% | 30.4% | 6.6% | -14.3% | -124.0% | -29.8% | -39.3% | 1.4% | 0.1% | 9.2% |
| Margem Líquida | -92.1% | 43.5% | 10.3% | -14.6% | -123.6% | 1.7% | -139.5% | -17.2% | -14.8% | 9.7% |