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Ballard Power Systems Inc.

NASDAQ•BLDP
CEO: Mr. R. Randall MacEwen BA, LLB
Sector: Industrials
Industry: Industrial - Machinery
Listing Date: 1995-11-08
Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications. It also engages in the delivery of services, including technology solutions, after sales services, and training; and provision of engineering services, product and systems integration services, and related technology transfer for a variety of PEM fuel cell applications. It operates in the United States, Germany, Canada, China, Poland, the United Kingdom, the Netherlands, France, Denmark, Belgium, India, Taiwan, Spain, Norway, Australia, Japan, and internationally. The company has a strategic alliance with Linamar Corporation for the co-development and sale of fuel cell powertrains and components for class 1 and 2 vehicles in North America and Europe. Ballard Power Systems Inc. was founded in 1979 and is headquartered in Burnaby, Canada.
Contact Information
9000 Glenlyon Parkway, Burnaby, BC, V5J 5J8, Canada
604-454-0900
www.ballard.com
Market Cap
$1.90B
P/E (TTM)
-23.3
20.6
Dividend Yield
--
52W High
$6.43
52W Low
$1.24
52W Range
97%
Rank73Top 99.9%
0.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 0.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q1 2026 Data

Revenue

$19.42M+0.00%
4-Quarter Trend

EPS

-$0.04+0.00%
4-Quarter Trend

FCF

-$8.40M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

FY2025 40-F Filing Complete Annual report filed for FYE 12/31/2025; Audited financials for 2025 and 2024 incorporated by reference.
Common Shares Outstanding Total outstanding common shares reported as 300,784,816 as of December 31, 2025 period close.
Governance Structure Confirmed Audit Committee confirmed four independent members, all qualifying as financial experts under Nasdaq listing standards.

Risk Factors

PFIC Status Uncertainty Company believes it was a PFIC last year; future status determination remains uncertain for U.S. Holders.
Forward-Looking Statement Caution Statements about future operations are inherently uncertain; investors should not place undue reliance on projections.
Complex Tax Implications U.S. Holders face complex U.S. federal income tax rules regarding PFIC status and potential adverse taxation.

Outlook

Internal Controls Status No material changes occurred in internal control over financial reporting during the period covered by this report.
Ethics Code Revision Code of Ethics revised in 2025 to address organizational conflicts of interest related to DOE projects.
Foreign Private Issuer Status Canadian issuer utilizes MJDS exemptions, exempting equity securities from certain sections of the Exchange Act.

Peer Comparison

Revenue (TTM)

CYD stock ticker logoCYD
$3.80B
+42.3%
ALGT stock ticker logoALGT
$2.64B
+3.3%
NVRI stock ticker logoNVRI
$2.24B
-2.1%

Gross Margin (Latest Quarter)

ALGT stock ticker logoALGT
65.4%
+7.8pp
GSL stock ticker logoGSL
53.6%
-1.4pp
THR stock ticker logoTHR
44.0%
+2.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
RDW$3.69B-15.9-29.0%13.8%
CYD$2.13B41.03.7%6.6%
THR$2.01B45.18.5%19.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.9%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Deep Research

Next earnings:Aug 10, 2026
|
EPS:-$0.05
|
Revenue:$25.51M
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data