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BALLARD POWER SYSTEMS INC (BLDP.CA) Stock Fundamental Analysis

TSX:BLDP - Toronto Stock Exchange - CA0585861085 - Common Stock - Currency: CAD

1.8  -0.11 (-5.76%)

Fundamental Rating

3

BLDP gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 14 industry peers in the Electrical Equipment industry. BLDP scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. While showing a medium growth rate, BLDP is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

BLDP had negative earnings in the past year.
BLDP had a negative operating cash flow in the past year.
In the past 5 years BLDP always reported negative net income.
In the past 5 years BLDP always reported negative operating cash flow.
BLDP.CA Yearly Net Income VS EBIT VS OCF VS FCFBLDP.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -100M -200M -300M

1.2 Ratios

The Return On Assets of BLDP (-40.18%) is better than 71.43% of its industry peers.
BLDP has a Return On Equity of -46.49%. This is in the better half of the industry: BLDP outperforms 71.43% of its industry peers.
Industry RankSector Rank
ROA -40.18%
ROE -46.49%
ROIC N/A
ROA(3y)-24.04%
ROA(5y)-17.06%
ROE(3y)-27.03%
ROE(5y)-19.08%
ROIC(3y)N/A
ROIC(5y)N/A
BLDP.CA Yearly ROA, ROE, ROICBLDP.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -10 -20 -30 -40

1.3 Margins

BLDP does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
BLDP.CA Yearly Profit, Operating, Gross MarginsBLDP.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300 -400

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5

2. Health

2.1 Basic Checks

BLDP does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, BLDP has about the same amount of shares outstanding.
BLDP has more shares outstanding than it did 5 years ago.
The debt/assets ratio for BLDP is higher compared to a year ago.
BLDP.CA Yearly Shares OutstandingBLDP.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
BLDP.CA Yearly Total Debt VS Total AssetsBLDP.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B

2.2 Solvency

BLDP has an Altman-Z score of -1.20. This is a bad value and indicates that BLDP is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of -1.20, BLDP is in line with its industry, outperforming 42.86% of the companies in the same industry.
A Debt/Equity ratio of 0.03 indicates that BLDP is not too dependend on debt financing.
The Debt to Equity ratio of BLDP (0.03) is better than 78.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z -1.2
ROIC/WACCN/A
WACC7.54%
BLDP.CA Yearly LT Debt VS Equity VS FCFBLDP.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

2.3 Liquidity

A Current Ratio of 9.00 indicates that BLDP has no problem at all paying its short term obligations.
With an excellent Current ratio value of 9.00, BLDP belongs to the best of the industry, outperforming 92.86% of the companies in the same industry.
A Quick Ratio of 8.13 indicates that BLDP has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 8.13, BLDP belongs to the top of the industry, outperforming 92.86% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 9
Quick Ratio 8.13
BLDP.CA Yearly Current Assets VS Current LiabilitesBLDP.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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4

3. Growth

3.1 Past

BLDP shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -62.90%.
Looking at the last year, BLDP shows a very negative growth in Revenue. The Revenue has decreased by -31.71% in the last year.
Measured over the past years, BLDP shows a decrease in Revenue. The Revenue has been decreasing by -7.98% on average per year.
EPS 1Y (TTM)-62.9%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%50%
Revenue 1Y (TTM)-31.71%
Revenue growth 3Y-12.62%
Revenue growth 5Y-7.98%
Sales Q2Q%6.49%

3.2 Future

The Earnings Per Share is expected to grow by 14.87% on average over the next years. This is quite good.
BLDP is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 34.73% yearly.
EPS Next Y62.54%
EPS Next 2Y28.91%
EPS Next 3Y20.19%
EPS Next 5Y14.87%
Revenue Next Year27.98%
Revenue Next 2Y26.89%
Revenue Next 3Y25.73%
Revenue Next 5Y34.73%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
BLDP.CA Yearly Revenue VS EstimatesBLDP.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 200M 400M 600M
BLDP.CA Yearly EPS VS EstimatesBLDP.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2030 2031 0 -0.5 -1

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1

4. Valuation

4.1 Price/Earnings Ratio

BLDP reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for BLDP. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
BLDP.CA Price Earnings VS Forward Price EarningsBLDP.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
BLDP.CA Per share dataBLDP.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1 2 3

4.3 Compensation for Growth

A more expensive valuation may be justified as BLDP's earnings are expected to grow with 20.19% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y28.91%
EPS Next 3Y20.19%

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0

5. Dividend

5.1 Amount

BLDP does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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BALLARD POWER SYSTEMS INC

TSX:BLDP (5/21/2025, 7:00:00 PM)

1.8

-0.11 (-5.76%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)05-06 2025-05-06/bmo
Earnings (Next)08-11 2025-08-11/bmo
Inst Owners28.55%
Inst Owner ChangeN/A
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap539.69M
Analysts42.22
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)9.97%
Min EPS beat(2)-14.08%
Max EPS beat(2)34.01%
EPS beat(4)2
Avg EPS beat(4)-93.57%
Min EPS beat(4)-412.82%
Max EPS beat(4)34.01%
EPS beat(8)4
Avg EPS beat(8)-54.72%
EPS beat(12)5
Avg EPS beat(12)-39.49%
EPS beat(16)5
Avg EPS beat(16)-40.97%
Revenue beat(2)0
Avg Revenue beat(2)-15.24%
Min Revenue beat(2)-20.95%
Max Revenue beat(2)-9.52%
Revenue beat(4)0
Avg Revenue beat(4)-21.2%
Min Revenue beat(4)-38.59%
Max Revenue beat(4)-9.52%
Revenue beat(8)2
Avg Revenue beat(8)-8.68%
Revenue beat(12)2
Avg Revenue beat(12)-13.88%
Revenue beat(16)4
Avg Revenue beat(16)-9.98%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.62%
EPS NY rev (1m)0%
EPS NY rev (3m)3.17%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.11%
Revenue NY rev (1m)1.46%
Revenue NY rev (3m)1.71%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 5.5
P/FCF N/A
P/OCF N/A
P/B 0.59
P/tB 0.6
EV/EBITDA N/A
EPS(TTM)-1.4
EYN/A
EPS(NY)-0.51
Fwd EYN/A
FCF(TTM)-0.63
FCFYN/A
OCF(TTM)-0.52
OCFYN/A
SpS0.33
BVpS3.03
TBVpS3.02
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -40.18%
ROE -46.49%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-24.04%
ROA(5y)-17.06%
ROE(3y)-27.03%
ROE(5y)-19.08%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score1
Asset Turnover0.09
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 240.82%
Cap/Sales 32.28%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 9
Quick Ratio 8.13
Altman-Z -1.2
F-Score1
WACC7.54%
ROIC/WACCN/A
Cap/Depr(3y)264.88%
Cap/Depr(5y)223.12%
Cap/Sales(3y)40.71%
Cap/Sales(5y)29.72%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-62.9%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%50%
EPS Next Y62.54%
EPS Next 2Y28.91%
EPS Next 3Y20.19%
EPS Next 5Y14.87%
Revenue 1Y (TTM)-31.71%
Revenue growth 3Y-12.62%
Revenue growth 5Y-7.98%
Sales Q2Q%6.49%
Revenue Next Year27.98%
Revenue Next 2Y26.89%
Revenue Next 3Y25.73%
Revenue Next 5Y34.73%
EBIT growth 1Y4.23%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year38.08%
EBIT Next 3Y17.97%
EBIT Next 5Y11.33%
FCF growth 1Y19.92%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y11.44%
OCF growth 3YN/A
OCF growth 5YN/A