Ballard Power Systems Inc. (BLDP)

2.25 -3.85% (-0.09)

Over 3Y: -42.9%

2026-08-28
Style
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2 4 6
2023 2024 2025 2026

Financials Annual

Figures
Revenue Gross Profit Operating Income Cost of Revenue Operating Cash Flow Free Cash Flow Net Income

A share count and earnings a share are not here: neither is money, so neither can share this axis. Both have their own panel on All charts.

All charts ›
FY21 — Revenue: 12.9M FY21 — Operating Cash Flow: -80.5M FY21 — Free Cash Flow: -93.6M FY21 — Net Income: -114.2M FY22 — Revenue: 12.5M FY22 — Operating Cash Flow: -132.2M FY22 — Free Cash Flow: -166.1M FY22 — Net Income: -173.5M FY23 — Revenue: 15.1M FY23 — Operating Cash Flow: -104.6M FY23 — Free Cash Flow: -145.8M FY23 — Net Income: -177.7M FY24 — Revenue: 13.5M FY24 — Operating Cash Flow: -108.1M FY24 — Free Cash Flow: -133.9M FY24 — Net Income: -324.2M FY25 — Revenue: 8M FY25 — Operating Cash Flow: -56.2M FY25 — Free Cash Flow: -66M FY25 — Net Income: -90.9M -280M -210M -140M -70M 0 70M
FY21 FY22 FY23 FY24 FY25
Revenue Operating Cash Flow Free Cash Flow Net Income

Figures as at 2025-12-31, reported in USD. The newest fact in the filings is dated 2025-12-31, 242 days ago. Nothing on this page is advice.

How it scores

Five questions, each answered by the measures under it. Every figure is the company's own; the bar beside it is where that figure sits among the companies read here — the top fifth, the bottom fifth, or somewhere between. Not among all listed companies, and for a valuation multiple the low end is the good end.

Quality

How much of the revenue is really kept — and what did it take to earn it?

0.6
SBC / sales 78.8%
OE margin -899.0%
Oper. margin -1285.5%
ROIC -96.1%
Accruals -5.1%
Gross margin 67.9%
Asset turnover 0.012×
Capex / sales 122.3%
EBITDA margin -1234.2%
FCF margin -820.2%
OCF margin -697.9%
Profit margin -1129.6%
ROA -13.3%
ROCE -16.6%
ROE -15.4%
OCF / EBIT —

5 of 17 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Valuation

What does the price ask for what the company earns, owns and pays out?

0.5
Div. yield —
EV/EBIT —
EV/GP —
EV/OE —
EV/Sales —
FCF yield —
Fwd P/E —
P/B —
P/C —
P/E —
PEG —

0 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Durability

How predictable is the revenue, and how much of it is already committed?

1.0
RPO / sales —
RPO growth —
Segment HHI —

3 of 7 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Resilience

Can the balance sheet absorb a bad year?

6.5
ND/EBITDA —
Interest cover -54.3×
Cash / Debt 23.8×
Cash runway 7.6 yr
Debt / Eq 0.038×
Debt payback 0.0 yr
Quick ratio 9.1×
F-score 4.5 pts
Payout —

3 of 12 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

Growth

Is the business getting bigger, and is it getting more profitable?

2.6
Sales CAGR 4Y -11.1%
Sales/sh Y/Y -40.6%
Shares change +0.28%
Div. growth —
EBIT CAGR —
EBIT Y/Y —
EPS CAGR 4Y —
EPS Y/Y —
EPS next Y —
Sales Q/Q —

4 of 13 counted in the score. The rest are measures this model does not include here, or figures these filings do not carry — switch any of them on and the score changes.

A measure absent from a block could not be computed from this company's filings. It is left out rather than scored as though it were bad, and the dimension is averaged over what remains. A score is measured against a fixed scale this model states; the bar is measured against the other companies, so the two can disagree — and where they do, that disagreement is the more interesting figure.