Ballard Power Systems Inc.

Ballard Power Systems Inc.

BLDP
Ballard Power Systems Inc.US flagNASDAQ Global Market
2.34
USD
+0.05
- -
705.45MMarket Cap
Ballard Power Systems Inc.
BLDP
(NASDAQ Global Market)

Recent

price

2.34

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.77
0.66
0.5
0.61
0.54
0.4
0.52
0.69
0.52
0.45
0.42
0.35
0.27
0.34
0.23
0.33
0.36
Revenue per Share
-0.37
-0.4
-0.48
-0.2
-0.22
-0.05
-0.13
-0.05
-0.15
-0.17
-0.21
-0.39
-0.58
-0.6
-1.08
-0.3
-0.26
Basic EPS, GAAP
-0.39
-0.44
-0.33
-0.18
-0.2
-0.21
-0.07
-0.09
-0.22
-0.12
-0.22
-0.32
-0.56
-0.49
-0.45
-0.22
-0.12
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
1.54
1.13
0.68
0.65
0.62
0.73
0.71
0.67
1.22
1.07
3.19
4.46
3.88
3.32
2.25
1.96
1.86
Book Value per Share
0.94
0.53
0.24
0.3
0.16
0.37
0.38
0.34
1.01
0.87
3.04
4.18
3.65
3.18
2.24
1.96
1.86
Tangible Book Value per Share
84
84
88
100
127
140
163
176
186
233
248
295
299
299
299
303
299
Basic Weighted Avg Shares
65
56
44
61
69
56
85
121
97
106
104
105
82
102
70
99
106
Sales/Revenue/Turnover
-65.38
-67.46
-71.85
-30.21
-31.67
-42.96
-18.5
-3.28
-20.91
-22.28
-39.36
-83.94
-173.49
-155.54
-220.12
-80.28
-46.94
Operating Margin (%)
9
6
6
6
6
4
5
5
5
8
8
10
14
14
12
4
4
Depreciation Expense
-32
-33
-42
-20
-28
-7
-22
-8
-27
-39
-51
-114
-173
-178
-324
-91
-77
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-48.5
-59.92
-97.01
-32.59
-40.55
-11.64
-25.43
-6.64
-28.29
-36.94
-49.46
-109.31
-211.94
-173.61
-464.99
-91.49
-72.78
Profit Margin (%)
64
37
21
34
26
57
65
63
214
165
802
1,146
955
794
623
540
519
Working Capital
13
15
13
11
9
7
6
6
5
17
15
14
12
13
21
19
16
LT Debt
130
92
58
70
79
112
122
120
283
250
901
1,328
1,159
991
673
590
560
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
-21.83
-29.67
-53.74
-29.78
-36.29
-6.7
-18.13
-6.58
-13.58
-14.66
-8.93
-10.25
-13.95
-16.53
-38.97
-14.4
-12.92
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
3
3
3
LT Borrowings
- -
- -
- -
LT Finance Leases
19
17
16
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
301
301
302
Market Capitalization
764
730
1,173

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
601
584
570
Cash, Cash Equivalents & STI
531
521
505
Accounts Receivable, Net
21
13
17
Inventories
44
44
42
Total Current Liabilities
61
55
51
Payables & Accruals
24
22
23
ST Debt
3
3
3
Deferred Revenue
8
7
6

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
36.76%
-4.85%
-12.34%
Free Cash Flow
28.45%
15.03%
-51.11%
Net Income, GAAP
66.81%
37.43%
-71.96%
Sales/Revenue/Turnover
9.52%
2.92%
42.5%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
14
16
15
25
70
2025
15
18
33
34
99
2026
19
21
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.14
-0.11
-0.68
- -
-1.08
2025
-0.07
-0.08
-0.09
-0.06
-0.3
2026
-0.04
-0.07
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Ballard Power Systems Inc. specializes in the engineering, production, commercialization, and support of proton exchange membrane (PEM) fuel cell products. The company's innovative clean energy solutions are primarily directed towards heavy-duty motive applications, encompassing buses, commercial trucks, rail transport, and marine vessels. Additionally, Ballard caters to material handling equipment, such as forklifts, and offers backup power systems for critical infrastructure. Beyond manufacturing, Ballard provides comprehensive technology solutions, including engineering services, technology transfer, and licensing its extensive intellectual property and foundational knowledge across various PEM fuel cell applications. The company also delivers integrated hydrogen fuel cell powertrain and vehicle systems integration expertise. With a global footprint, Ballard Power Systems maintains operations and serves markets across North America, Europe, and Asia, including Canada, the United States, Germany, China, and more. Recent strategic collaborations include a long-term supply agreement with NFI Group for fuel cell-powered buses in North America, and a partnership with Canadian Pacific Kansas City to supply fuel cell engines for freight rail. The company has also made a strategic investment in Quantron AG to accelerate fuel cell truck adoption in Europe and the US, and partnered with Vertiv for backup power solutions in data centers. Established in 1979 as Ballard Research Inc. with an initial focus on high-energy lithium batteries, the company pivoted to PEM fuel cell technology in 1983 and is headquartered in Burnaby, British Columbia, Canada. Ballard has made significant strides in cost reduction and is targeting positive cash flow by the end of 2027, driven by strong growth in its bus and rail segments, which significantly boosted Q3 2025 revenue.

Company News

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  • Ballard Announces Q2 2026 Results Conference Call

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  • BALLARD GIBT DIE ÜBERNAHME DES BRITISCHEN UNTERNEHMENS GEOPURA BEKANNT, WAS DAS ZUKÜNFTIGE WACHSTUM ANKURBELT UND BALLARD ZU EINEM INTEGRIERTEN ANBIETER VON WASSERSTOFF-ÖKOSYSTEMEN MACHT

  • Ballard Power Systems Inc. (BLDP:CA) M&A Call Transcript