BLDP Fundamental Analysis - BALLARD POWER SYSTEMS INC

Fundamental Rating

BLDP gets a fundamental rating of 2 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. BLDP is quite expensive at the moment. It does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

BLDP had negative earnings in the past year.

In the past year BLDP has reported a negative cash flow from operations.

BLDP had negative earnings in each of the past 5 years.

In the past 5 years BLDP always reported negative operating cash flow.

1.2 Ratios

BLDP has a better Return On Assets (-16.87%) than 71.43% of its industry peers.

Looking at the Return On Equity, with a value of -19.75%, BLDP is in the better half of the industry, outperforming 78.57% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	-16.87%
ROE	-19.75%
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

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 Rank	Sector 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

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

BLDP does not have a ROIC to compare to the WACC, probably because it is not profitable.

The number of shares outstanding for BLDP remains at a similar level compared to 1 year ago.

Compared to 5 years ago, BLDP has more shares outstanding

Compared to 1 year ago, BLDP has a worse debt to assets ratio.

2.2 Solvency

Based on the Altman-Z score of 0.81, we must say that BLDP is in the distress zone and has some risk of bankruptcy.

BLDP's Altman-Z score of 0.81 is on the low side compared to the rest of the industry. BLDP is outperformed by 64.29% of its industry peers.

BLDP has a Debt/Equity ratio of 0.03. This is a healthy value indicating a solid balance between debt and equity.

BLDP has a Debt to Equity ratio (0.03) which is in line with its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.03
Debt/FCF	N/A
Altman-Z	0.81

ROIC/WACCN/A

WACC7.73%

2.3 Liquidity

BLDP has a Current Ratio of 8.33. This indicates that BLDP is financially healthy and has no problem in meeting its short term obligations.

BLDP's Current ratio of 8.33 is amongst the best of the industry. BLDP outperforms 85.71% of its industry peers.

A Quick Ratio of 7.53 indicates that BLDP has no problem at all paying its short term obligations.

BLDP's Quick ratio of 7.53 is amongst the best of the industry. BLDP outperforms 85.71% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	8.33
Quick Ratio	7.53

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

BLDP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 64.55%, which is quite impressive.

BLDP shows a decrease in Revenue. In the last year, the revenue decreased by -1.20%.

BLDP shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -7.98% yearly.

EPS 1Y (TTM)64.55%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%86.76%

Revenue 1Y (TTM)-1.2%

Revenue growth 3Y-12.62%

Revenue growth 5Y-7.98%

Sales Q2Q%120.26%

3.2 Future

Based on estimates for the next years, BLDP will show a quite strong growth in Earnings Per Share. The EPS will grow by 14.87% on average per year.

BLDP is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 22.16% yearly.

EPS Next Y69.59%

EPS Next 2Y33.49%

EPS Next 3Y22.61%

EPS Next 5Y14.87%

Revenue Next Year24.73%

Revenue Next 2Y17.8%

Revenue Next 3Y16.87%

Revenue Next 5Y22.16%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BLDP. In the last year negative earnings were reported.

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 Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

A more expensive valuation may be justified as BLDP's earnings are expected to grow with 22.61% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y33.49%

EPS Next 3Y22.61%

More info and screens

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5. Dividend

5.1 Amount

BLDP does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	0%

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BALLARD POWER SYSTEMS INC

TSX:BLDP (12/31/2025, 7:00:00 PM)

3.5

0 (0%)

Chartmill FA Rating

GICS SectorIndustrials

GICS IndustryGroupCapital Goods

GICS IndustryElectrical Equipment

Earnings (Last)11-13 2025-11-13/bmo

Earnings (Next)03-11 2026-03-11/amc

Inst Owners31.88%

Inst Owner ChangeN/A

Ins Owners0.19%

Ins Owner ChangeN/A

Market Cap1.05B

Revenue(TTM)90.25M

Net Income(TTM)-119.86M

Analysts42.22

Price TargetN/A

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	0%

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)2

Avg EPS beat(2)19.32%

Min EPS beat(2)18.62%

Max EPS beat(2)20.03%

EPS beat(4)3

Avg EPS beat(4)14.65%

Min EPS beat(4)-14.08%

Max EPS beat(4)34.01%

EPS beat(8)5

Avg EPS beat(8)-45.21%

EPS beat(12)7

Avg EPS beat(12)-32.15%

EPS beat(16)7

Avg EPS beat(16)-34.94%

Revenue beat(2)1

Avg Revenue beat(2)16.44%

Min Revenue beat(2)-1.11%

Max Revenue beat(2)33.98%

Revenue beat(4)1

Avg Revenue beat(4)0.6%

Min Revenue beat(4)-20.95%

Max Revenue beat(4)33.98%

Revenue beat(8)2

Avg Revenue beat(8)-4.25%

Revenue beat(12)3

Avg Revenue beat(12)-7.43%

Revenue beat(16)4

Avg Revenue beat(16)-8.33%

PT rev (1m)0%

PT rev (3m)0%

EPS NQ rev (1m)1.56%

EPS NQ rev (3m)8.7%

EPS NY rev (1m)8.76%

EPS NY rev (3m)9.35%

Revenue NQ rev (1m)-0.05%

Revenue NQ rev (3m)-1.99%

Revenue NY rev (1m)8.91%

Revenue NY rev (3m)8.82%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	8.51
P/FCF	N/A
P/OCF	N/A
P/B	1.27
P/tB	1.27
EV/EBITDA	N/A

EPS(TTM)-0.53

EYN/A

EPS(NY)-0.32

Fwd EYN/A

FCF(TTM)-0.48

FCFYN/A

OCF(TTM)-0.42

OCFYN/A

SpS0.41

BVpS2.76

TBVpS2.76

PEG (NY)N/A

PEG (5Y)N/A

Graham NumberN/A

Profitability

		Industry Rank	Sector Rank
ROA	-16.87%
ROE	-19.75%
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

ROICexgc growth 3YN/A

ROICexgc 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-Score5

Asset Turnover0.13

Health

		Industry Rank	Sector Rank
Debt/Equity	0.03
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	301.96%
Cap/Sales	13.66%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	8.33
Quick Ratio	7.53
Altman-Z	0.81

F-Score5

WACC7.73%

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)64.55%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%86.76%

EPS Next Y69.59%

EPS Next 2Y33.49%

EPS Next 3Y22.61%

EPS Next 5Y14.87%

Revenue 1Y (TTM)-1.2%

Revenue growth 3Y-12.62%

Revenue growth 5Y-7.98%

Sales Q2Q%120.26%

Revenue Next Year24.73%

Revenue Next 2Y17.8%

Revenue Next 3Y16.87%

Revenue Next 5Y22.16%

EBIT growth 1Y38.02%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year39.14%

EBIT Next 3Y20.6%

EBIT Next 5Y12.54%

FCF growth 1Y33.19%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y14.35%

OCF growth 3YN/A

OCF growth 5YN/A

BALLARD POWER SYSTEMS INC / BLDP.CA FAQ

What is the fundamental rating for BLDP stock?

ChartMill assigns a fundamental rating of 2 / 10 to BLDP.CA.

What is the valuation status for BLDP stock?

ChartMill assigns a valuation rating of 1 / 10 to BALLARD POWER SYSTEMS INC (BLDP.CA). This can be considered as Overvalued.

What is the profitability of BLDP stock?

BALLARD POWER SYSTEMS INC (BLDP.CA) has a profitability rating of 1 / 10.

What is the earnings growth outlook for BALLARD POWER SYSTEMS INC?

The Earnings per Share (EPS) of BALLARD POWER SYSTEMS INC (BLDP.CA) is expected to grow by 69.59% in the next year.

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

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

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BALLARD POWER SYSTEMS INC / BLDP.CA FAQ

What is the fundamental rating for BLDP stock?

What is the valuation status for BLDP stock?

What is the profitability of BLDP stock?

What is the earnings growth outlook for BALLARD POWER SYSTEMS INC?