Ballard Power Systems Inc
BLDP
1.97
-0.04
-1.75%
Ballard Power Systems Inc
US · BLDP
#3508 by market cap
1.97
-0.04
-1.75%
Live - 5344 symbols - heartbeat 395s ago
· 2026-10-08 10:11
Pre-market
1.98
-1.00%
After-hours
2.00
0.00%
Overnight
2.05
+2.50%
- Market cap
- 689.89M
- P/E (TTM)i
- -7.56
- P/Bi
- 1.23
- EPSi
- -0.30
- Div yieldi
- 0.00%
- 52W posi
- 1%
Reader sentiment
Are you bullish or bearish on BLDP?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Weak
- Altman Z-Score is 0.77, below the 1.8 "distress zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +42.50% YoY
Margins
- Gross margin
- 5.50%
- Operating margin
- -80.28%
- Net margin
- -91.49%
Key ratios & quality
- Altman Z-Scorei
- 0.77
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 96.59M | 105.72M | 103.88M | 104.51M | 81.86M | 102.37M | 69.73M | 99.37M |
| Gross profit | 29.67M | 22.34M | 20.98M | 14.01M | -13.31M | -21.83M | -21.98M | 5.46M |
| Selling & admin expenses | 22.83M | 20.64M | 24.85M | 37.63M | 38.89M | 38.98M | 37.02M | 26.50M |
| Research & development | 27.04M | 25.26M | 35.52M | 62.16M | 89.72M | 98.31M | 94.49M | 58.74M |
| Operating profit | -20.19M | -23.56M | -40.89M | -87.72M | -142.02M | -159.22M | -153.49M | -79.78M |
| Pretax profit | -26.95M | -35.27M | -49.34M | -114.61M | -160.33M | -144.05M | -323.41M | -90.86M |
| Tax | 370.00K | 20.00K | 130.00K | -216.00K | 42.00K | 158.00K | 121.00K | 51.00K |
| Net profit | -27.32M | -39.05M | -51.38M | -114.23M | -173.49M | -177.72M | -324.25M | -90.91M |
| Basic EPS | 0 | 0 | 0 | 0 | -1 | -1 | -1 | 0 |
| Diluted EPS | -0.15 | -0.17 | -0.21 | -0.39 | -0.58 | -0.59 | -1.08 | -0.30 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 15.39M | 17.84M | 32.50M | 33.64M | 19.42M | 20.60M |
| Gross profit | -3.61M | -1.50M | 4.96M | 5.60M | 2.76M | 4.08M |
| Selling & admin expenses | 7.12M | 7.19M | 5.72M | 6.47M | 6.47M | 6.39M |
| Research & development | 18.11M | 18.18M | 11.52M | 10.94M | 9.36M | 10.37M |
| Operating profit | -28.83M | -26.86M | -12.28M | -11.81M | -13.07M | -12.68M |
| Pretax profit | -21.04M | -24.26M | -28.07M | -17.50M | -11.39M | -20.25M |
| Tax | -- | 24.00K | 0 | 27.00K | -- | 23.00K |
| Net profit | -21.04M | -24.28M | -28.07M | -17.53M | -11.39M | -20.28M |
| Basic EPS | 0 | 0 | 0 | 0 | 0 | 0 |
| Diluted EPS | -0.07 | -0.08 | -0.09 | -0.06 | -0.04 | -0.07 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 261.59M | 229.53M | 854.32M | 1.23B | 1.03B | 864.74M | 698.88M | 601.43M |
| Cash & ST investments | 192.24M | 147.79M | 765.43M | 1.13B | 915.74M | 753.24M | 606.05M | 531.25M |
| Inventory | 29.31M | 30.10M | 28.52M | 51.52M | 58.05M | 45.87M | 56.42M | 43.77M |
| Total assets | 346.10M | 340.32M | 975.60M | 1.44B | 1.25B | 1.08B | 777.31M | 682.39M |
| Total current liabilities | 47.71M | 64.52M | 52.09M | 83.16M | 73.17M | 70.59M | 75.59M | 60.99M |
| Short-term debt | 631.00K | 2.45M | 2.69M | 3.24M | 3.90M | 4.51M | 2.90M | 3.41M |
| Long-term debt | -- | -- | -- | -- | -- | -- | -- | -- |
| Total liabilities | 63,500,000.00 | 90,056,000.00 | 74,712,000.00 | 112,726,000.00 | 88,166,000.00 | 86,326,000.00 | 104,317,000.00 | 92,458,000.00 |
| Total equity | 282.60M | 250.26M | 900.89M | 1.33B | 1.16B | 991.22M | 672.99M | 589.93M |
| Retained earnings | -1.18B | -1.22B | -1.28B | -1.39B | -1.56B | -1.74B | -2.06B | -2.15B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 675.12M | 647.32M | 623.45M | 601.43M | 583.88M | 569.75M |
| Cash & ST investments | 578.80M | 552.15M | 527.85M | 531.25M | 520.86M | 505.15M |
| Inventory | 65.12M | 68.87M | 59.87M | 43.77M | 43.80M | 42.34M |
| Total assets | 756.61M | 735.86M | 710.46M | 682.39M | 663.10M | 643.90M |
| Total current liabilities | 74.99M | 69.54M | 74.81M | 60.99M | 54.56M | 50.92M |
| Short-term debt | 3.03M | 3.25M | 3.28M | 3.41M | 3.44M | 3.40M |
| Long-term debt | -- | -- | -- | -- | -- | -- |
| Total liabilities | 102,789,000.00 | 99,910,000.00 | 103,639,000.00 | 92,458,000.00 | 85,148,000.00 | 84,159,000.00 |
| Total equity | 653.82M | 635.95M | 606.82M | 589.93M | 577.95M | 559.74M |
| Retained earnings | -2.08B | -2.11B | -2.13B | -2.15B | -2.16B | -2.18B |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -31.69M | -14.23M | -42.93M | -80.48M | -132.17M | -104.57M | -108.10M | -56.17M |
| Depreciation & amortization | 5.02M | 7.51M | 7.56M | 9.75M | 13.77M | 13.53M | 11.97M | 4.13M |
| Free cash flow | -41.54M | -28.16M | -55.80M | -95.18M | -166.65M | -145.94M | -135.72M | -66.35M |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 183.67M | 0 | 694.61M | 527.29M | -- | -- | -- | -- |
| Ending cash balance | 192.24M | 147.79M | 763.43M | 1.12B | 913.73M | 751.13M | 603.95M | 527.05M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | -24.40M | -20.34M | -22.86M | 11.43M | -7.81M | -11.39M |
| Depreciation & amortization | 985.00K | 964.00K | 1.04M | 1.14M | 987.00K | 1.00M |
| Free cash flow | -27.07M | -22.68M | -24.25M | 7.65M | -8.40M | -12.23M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -- | -- | -- | -- | -- | -- |
| Ending cash balance | 576.70M | 550.04M | 525.74M | 527.05M | 516.77M | 502.10M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | -13.58 | -14.66 | -8.93 | -10.25 | -13.95 | -16.53 | -38.97 | -14.40 |
| ROA %i | -10.43 | -11.38 | -7.81 | -9.45 | -12.91 | -15.29 | -34.96 | -12.46 |
| ROIC %i | -12.95 | -13.58 | -8.47 | -9.97 | -13.67 | -16.20 | -37.83 | -13.68 |
| 5-year avg ROE %i | -16.34 | -11.93 | -12.37 | -10.80 | -12.27 | -12.86 | -17.72 | -18.82 |
| EBIT margin %i | -27.26 | -35.25 | -46.14 | -108.32 | -209.76 | -139.64 | -460.72 | -89.52 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- | -- | -- |
| Current ratioi | 5.48 | 3.56 | 16.40 | 14.78 | 14.06 | 12.25 | 9.25 | 9.86 |
| Quick ratioi | 4.84 | 3.06 | 15.78 | 14.11 | 13.18 | 11.50 | 8.44 | 9.11 |
| Debt / assetsi | 1.65 | 5.80 | 1.83 | 1.19 | 1.26 | 1.66 | 3.07 | 3.24 |
| LT debt / equityi | 1.79 | 6.92 | 1.69 | 1.05 | 1.02 | 1.35 | 3.12 | 3.17 |
| Interest coveragei | -42.47 | -24.12 | -33.92 | -80.06 | -137.41 | -129.36 | -149.70 | -46.70 |
| Revenue CAGR (3Y) %i | 19.60 | 7.43 | -5.03 | 2.66 | -8.17 | -0.49 | -12.62 | 6.67 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | -37.87 | -38.10 | -18.07 | -14.40 | -13.20 | -12.92 |
| ROA %i | -33.65 | -33.79 | -15.56 | -12.46 | -11.45 | -11.20 |
| ROIC %i | -36.47 | -36.68 | -17.20 | -13.68 | -12.45 | -12.30 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | -426.20 | -405.68 | -130.55 | -89.52 | -76.77 | -71.07 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- |
| Current ratioi | 9.00 | 9.31 | 8.33 | 9.86 | 10.70 | 11.19 |
| Quick ratioi | 8.09 | 8.28 | 7.49 | 9.11 | 9.85 | 10.32 |
| Debt / assetsi | 3.07 | 3.22 | 3.18 | 3.24 | 3.16 | 3.06 |
| LT debt / equityi | 3.10 | 3.22 | 3.18 | 3.17 | 3.03 | 2.91 |
| Interest coveragei | -135.06 | -138.10 | -59.12 | -46.70 | -43.14 | -42.72 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
Revenue breakdown most recent period
Business
Fuel Cell Products and Services100.00%
Quote time 2026-10-08 10:11:20 · For reference only, not investment advice and not tailored to your situation.