BLDP

Ballard Power Systems Inc.

Fundamental data last updated:September 7, 2026

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company profile

SECTOR

Industrials

industry

Industrial - Machinery

Exchange

NASDAQ

County of HQ

CA

Next Earnings Date

Pending Announcement

Business Summary

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power. It also provides technology solutions, including engineering and technology transfer, as well as licenses and sells intellectual property portfolio and fundamental knowledge for various PEM fuel cell applications; and hydrogen fuel cell powertrain and vehicle systems integration solutions. It operates in China, Germany, the United States, the United Kingdom, Canada, Denmark, Norway, Belgium, Japan, France, Spain, Taiwan, Poland, India, Ukraine, Sweden, 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.

 


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VALUATION

P/E

-22.92

Market Cap ($M USD)

$1.87B

Forward P/E

-61.97

PEG

-0.98

PRICE TO SALES

18.05

PRICE TO BOOK

3.22

EV / EBITDA

-18.21

5-Year Average P/E

Free Cash Flow Yield

-2.55%

DCF Value

$-2.63

Graham Number

N/A

Price to FCF

-39.29

EV to FCF

-28.85

Earnings Yield

-4.36%

FCF Yield

-2.55%

DIVIDEND

Yield

0.00%

Annual Payout

$0.00

Payout Ratio

0.00%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

-$0.27

Next Year EPS Growth Estimate

-$0.10

Next Year Revenue Growth Estimate

$260.69M

Return on Equity (ROE)

-13.49%

FREE CASH FLOW

Operating Margin

-85.12%

Debt-to-Equity

0.04

Piotroski F-Score

4

Altman Z-Score

8.77

Return on Invested Capital (ROIC)

-14.46%

Current Ratio

10.70

Quick Ratio

9.90

Net Debt to EBITDA

6.59

Interest Coverage

-47.75

Gross Profit margin

11.44%

FCF PER SHARE

$-0.16

REVENUE PER SHARE

$0.34

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Gainseekers Quantitative Analysis

Summary

Ballard Power Systems Inc. presents a perplexing valuation scenario. Despite a market cap exceeding $1.2 billion, the stock’s DCF value is deeply negative, suggesting a significant market mispricing. The Forward P/E and Earnings Yield are both alarmingly negative, indicating expectations of continued losses. However, the Altman Z-score of 4.91 suggests financial stability, hinting at a paradox of safety amidst poor earnings prospects. The market seems to be betting on a turnaround, but the numbers paint a grim picture of current profitability.

AI Exposure / Tech Reliance

Operating within the Industrial - Machinery sector, Ballard Power is strategically positioned to leverage AI and modern tech advancements. The industry's inherent need for innovation aligns well with AI-driven efficiencies. However, the company's ability to capitalize on these shifts will depend on its execution and adaptability.

The Bull Case

For the optimistic investor, Ballard's low Debt/Equity ratio of 0.0375 and robust Current Ratio of 10.70 signal financial resilience. The Piotroski F-Score of 4, while moderate, indicates some positive financial signals. Despite negative margins, the company's high sales growth projection could imply future pricing power. These factors might attract those betting on a long-term turnaround fueled by capital efficiency and strategic growth.

The Bear Case

Yet, the bear case is hard to ignore. The stock's Price/Sales ratio of 12.02 and Price/Book of 2.15 suggest overvaluation, especially with an Operating Margin of -85.12%. The negative FCF Yield and Price to FCF ratio highlight severe cash flow issues. Trading close to its 52-week high, the stock appears technically overextended, raising concerns about its sustainability at current levels.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Hold

Average Analyst Price Target

$3.60

Institutional Ownership %

1-Year Beta

1.68

Insider Buying % (6 Mo)

Distance to 52-Week High

3.88%

Distance to 52-Week Low

79.97%

EARNINGS SURPRISE %

33.33%

50-DAY SMA

$3.49

200-DAY SMA

$2.86

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.