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BALLARD POWER SYSTEMS INC (BLDP) Stock Fundamental Analysis

NASDAQ:BLDP - CA0585861085 - Common Stock

1.85 USD
-0.04 (-2.12%)
Last: 9/4/2025, 6:56:03 PM
1.9 USD
+0.05 (+2.7%)
After Hours: 9/4/2025, 6:56:03 PM
Fundamental Rating

2

Taking everything into account, BLDP scores 2 out of 10 in our fundamental rating. BLDP was compared to 92 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.


Dividend Valuation Growth Profitability Health

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0

1. Profitability

1.1 Basic Checks

In the past year BLDP has reported negative net income.
BLDP had a negative operating cash flow in the past year.
BLDP had negative earnings in each of the past 5 years.
BLDP had a negative operating cash flow in each of the past 5 years.
BLDP Yearly Net Income VS EBIT VS OCF VS FCFBLDP 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

With a Return On Assets value of -40.33%, BLDP is not doing good in the industry: 67.39% of the companies in the same industry are doing better.
BLDP has a Return On Equity (-46.67%) which is in line with its industry peers.
Industry RankSector Rank
ROA -40.33%
ROE -46.67%
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 Yearly ROA, ROE, ROICBLDP 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 Yearly Profit, Operating, Gross MarginsBLDP 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.
The number of shares outstanding for BLDP has been increased compared to 5 years ago.
The debt/assets ratio for BLDP is higher compared to a year ago.
BLDP Yearly Shares OutstandingBLDP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
BLDP Yearly Total Debt VS Total AssetsBLDP 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 -0.18. This is a bad value and indicates that BLDP is not financially healthy and even has some risk of bankruptcy.
BLDP has a Altman-Z score of -0.18. This is comparable to the rest of the industry: BLDP outperforms 45.65% 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.
The Debt to Equity ratio of BLDP (0.03) is better than 73.91% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z -0.18
ROIC/WACCN/A
WACC7.97%
BLDP Yearly LT Debt VS Equity VS FCFBLDP 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 9.31 indicates that BLDP has no problem at all paying its short term obligations.
The Current ratio of BLDP (9.31) is better than 94.57% of its industry peers.
A Quick Ratio of 8.32 indicates that BLDP has no problem at all paying its short term obligations.
BLDP's Quick ratio of 8.32 is amongst the best of the industry. BLDP outperforms 93.48% of its industry peers.
Industry RankSector Rank
Current Ratio 9.31
Quick Ratio 8.32
BLDP Yearly Current Assets VS Current LiabilitesBLDP 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

The earnings per share for BLDP have decreased strongly by -55.56% in the last year.
The Revenue for BLDP has decreased by -30.40% in the past year. This is quite bad
The Revenue has been decreasing by -7.98% on average over the past years.
EPS 1Y (TTM)-55.56%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%27.27%
Revenue 1Y (TTM)-30.4%
Revenue growth 3Y-12.62%
Revenue growth 5Y-7.98%
Sales Q2Q%11.23%

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 23.87% yearly.
EPS Next Y67.24%
EPS Next 2Y32.5%
EPS Next 3Y21.49%
EPS Next 5Y14.87%
Revenue Next Year13.96%
Revenue Next 2Y17.15%
Revenue Next 3Y16.21%
Revenue Next 5Y23.87%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
BLDP Yearly Revenue VS EstimatesBLDP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 200M 400M 600M
BLDP Yearly EPS VS EstimatesBLDP 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 Price Earnings VS Forward Price EarningsBLDP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

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

4.3 Compensation for Growth

A more expensive valuation may be justified as BLDP's earnings are expected to grow with 21.49% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y32.5%
EPS Next 3Y21.49%

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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

NASDAQ:BLDP (9/4/2025, 6:56:03 PM)

After market: 1.9 +0.05 (+2.7%)

1.85

-0.04 (-2.12%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)08-11 2025-08-11/bmo
Earnings (Next)11-03 2025-11-03/bmo
Inst Owners25.55%
Inst Owner Change31.56%
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap556.07M
Analysts42.22
Price TargetN/A
Short Float %5.19%
Short Ratio2.11
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)2
Avg EPS beat(2)26.32%
Min EPS beat(2)18.62%
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)-54.84%
EPS beat(12)6
Avg EPS beat(12)-33.86%
EPS beat(16)6
Avg EPS beat(16)-38.39%
Revenue beat(2)0
Avg Revenue beat(2)-5.31%
Min Revenue beat(2)-9.52%
Max Revenue beat(2)-1.11%
Revenue beat(4)0
Avg Revenue beat(4)-17.54%
Min Revenue beat(4)-38.59%
Max Revenue beat(4)-1.11%
Revenue beat(8)2
Avg Revenue beat(8)-8.08%
Revenue beat(12)2
Avg Revenue beat(12)-11.96%
Revenue beat(16)3
Avg Revenue beat(16)-10.83%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)-10.94%
EPS NQ rev (3m)-15.18%
EPS NY rev (1m)12.53%
EPS NY rev (3m)12.53%
Revenue NQ rev (1m)-8.49%
Revenue NQ rev (3m)-5.02%
Revenue NY rev (1m)-5.65%
Revenue NY rev (3m)-10.95%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 7.67
P/FCF N/A
P/OCF N/A
P/B 0.87
P/tB 0.88
EV/EBITDA N/A
EPS(TTM)-0.98
EYN/A
EPS(NY)-0.26
Fwd EYN/A
FCF(TTM)-0.4
FCFYN/A
OCF(TTM)-0.33
OCFYN/A
SpS0.24
BVpS2.12
TBVpS2.11
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -40.33%
ROE -46.67%
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 Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 342.58%
Cap/Sales 31.1%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 9.31
Quick Ratio 8.32
Altman-Z -0.18
F-Score1
WACC7.97%
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)-55.56%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%27.27%
EPS Next Y67.24%
EPS Next 2Y32.5%
EPS Next 3Y21.49%
EPS Next 5Y14.87%
Revenue 1Y (TTM)-30.4%
Revenue growth 3Y-12.62%
Revenue growth 5Y-7.98%
Sales Q2Q%11.23%
Revenue Next Year13.96%
Revenue Next 2Y17.15%
Revenue Next 3Y16.21%
Revenue Next 5Y23.87%
EBIT growth 1Y12.46%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year39.83%
EBIT Next 3Y15.85%
EBIT Next 5Y12.75%
FCF growth 1Y26.72%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y15.55%
OCF growth 3YN/A
OCF growth 5YN/A