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    Industrial - Machinery
Ballard Power Systems Inc.

Ballard Power Systems Inc.

PO0.F
Ballard Power Systems Inc.undefined flagFrankfurt Stock Exchange
3.00
EUR
-0.10
- -
903.82MMarket Cap
Ballard Power Systems Inc.
PO0.F
(Frankfurt Stock Exchange)

Recent

price

3.00

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
0.35
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
-0.27
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
-0.16
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-1.89
-2.29
-2.61
-2.25
-1.62
-1.28
-1.05
-0.97
-0.05
-0.18
2.45
3.48
2.87
2.3
1.23
0.93
0.91
Book Value per Share
0.93
0.5
0.2
0.31
0.15
0.39
0.38
0.35
1.26
0.88
3.45
4.21
3.64
3.18
2.24
1.95
1.94
Tangible Book Value per Share
84
84
88
100
127
140
163
176
186
233
248
295
299
299
299
303
298
Basic Weighted Avg Shares
65
56
44
61
69
56
85
121
97
106
104
105
82
102
70
99
103
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
-61.9
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
-81
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
-78.6
Profit Margin (%)
64
37
21
34
26
57
65
63
214
165
802
1,146
955
794
623
540
529
Working Capital
13
15
13
11
9
7
6
6
5
17
15
14
12
13
21
19
17
LT Debt
130
92
58
70
79
112
122
120
283
250
901
1,328
1,159
991
673
590
578
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-13.95
-18.38
-22.96
-61.41
-28
-26.2
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
3
3
3
LT Borrowings
- -
- -
- -
LT Finance Leases
19
19
17
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
301
301
301
Market Capitalization
813
763
717

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
623
601
584
Cash, Cash Equivalents & STI
528
531
521
Accounts Receivable, Net
28
21
13
Inventories
60
44
44
Total Current Liabilities
75
61
55
Payables & Accruals
28
24
22
ST Debt
3
3
3
Deferred Revenue
11
8
7

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
- -
- -
- -
- -

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
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Ballard Power Systems Inc. designs, develops, manufactures, sells and services proton exchange membrane (PEM) fuel cell products for heavy-duty mobility markets including bus, truck, rail and marine applications; stationary power generation; and emerging markets such as material handling, off-road equipment and portable power. The company offers core products comprising heavy-duty modules such as FCmove™ series including the recently launched ninth-generation FCmove®-SC transit fuel cell module with integrated DC/DC functionality, 25% improved power density and higher operating temperatures; fuel cell stacks like FCgen®-HPS; and related components including membrane electrode assemblies and bipolar plates. Ballard provides engineering services, after-sales support under its Here for Life™ program and technology solutions for zero-emission power conversion from hydrogen, with products deployed in over 3,600 buses and trucks totaling more than 200 million kilometers of real-world use and 1 gigawatt of deliveries worldwide. Founded in 1979 and headquartered in Burnaby, British Columbia, Canada, the company operates globally with facilities supporting customers in North America, Europe and Asia. Recent developments include a November 2024 purchase order for 200 fuel cell engines from New Flyer, a subsidiary of NFI Group Inc., under a long-term supply agreement; a major marine order from eCap and Samskip; Q3 2025 revenue of $32.5 million up 120% year-over-year driven by bus and rail deliveries; launch of FCmove®-SC at Busworld receiving positive OEM feedback; significant cost reductions with 40% lower cash operating costs and 36% reduced total operating expenses through 2024-2025 restructuring including workforce optimization; suspension of Texas Gigafactory expansion plans; and order backlog of $132.8 million as of September 30, 2025.