Ballard Power Systems/$BLDP
1D1W1MYTD1Y5YMAX
Capital at risk
About Ballard Power Systems
Ballard Power Systems Inc is engaged in design, development, manufacture, sale and service of proton exchange membrane ("PEM") fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, as well as the delivery of services, including technology solutions, after sales services and training. A fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. Key geographical revenue is derived from United States followed by Poland, Canada, and other countries.
- Ticker
- $BLDP
- Sector
- Industrials
- Primary listing
- NASDAQ
- Employees
- 492
- Headquarters
- Burnaby, Canada
- Website
- www.ballard.com
BLDP Metrics
BasicAdvanced
$658M
-
-$0.26
1.88
-
Price and volume
Market cap
$658M
Beta
1.88
52-week high
$6.57
52-week low
$1.92
Average daily volume
2.9M
Financial strength
Current ratio
11.189
Quick ratio
10.322
Long term debt to equity
0.029
Total debt to equity
0.035
Interest coverage (TTM)
-28.42%
Profitability
EBITDA (TTM)
-49.859
Gross margin (TTM)
16.40%
Net profit margin (TTM)
-72.78%
Operating margin (TTM)
-47.27%
Effective tax rate (TTM)
-0.06%
Revenue per employee (TTM)
$220,000
Management effectiveness
Return on assets (TTM)
-4.55%
Return on equity (TTM)
-12.92%
Valuation
Price to revenue (TTM)
6.18
Price to book
1.64
Price to tangible book (TTM)
1.64
Price to free cash flow (TTM)
-17.618
Free cash flow yield (TTM)
-5.68%
Free cash flow per share (TTM)
-0.124
Growth
Revenue change (TTM)
46.41%
Earnings per share change (TTM)
-74.09%
3-year revenue growth (CAGR)
15.76%
10-year revenue growth (CAGR)
4.26%
3-year earnings per share growth (CAGR)
-18.46%
10-year earnings per share growth (CAGR)
6.29%
What the Analysts think about BLDP
Analyst ratings (Buy, Hold, Sell) for Ballard Power Systems stock.
Analyst projections of the future price of Ballard Power Systems stock.
Bulls say / Bears say
Ballard’s operational turnaround is gaining traction: Q2 2026 revenue rose 15% year over year to approximately $20.6 million, gross margin improved to 20% from negative 8%, and Adjusted EBITDA loss narrowed to $9.8 million from $30.6 million. (SEC filing)
Commercial momentum strengthened materially: Q2 order intake was $64.4 million, lifting backlog to $156.6 million, up 38.8% from the end of Q1. Growth was supported by bus, stationary-power, and other-market orders, broadening demand beyond Ballard’s traditional bus exposure. (SEC filing)
The completed GeoPura acquisition could expand Ballard from a fuel-cell component supplier into a vertically integrated hydrogen energy-as-a-service provider, adding hydrogen power units, fuel-supply capabilities, and recurring service potential. Ballard also secured a repeat 15 MW stationary-power order scheduled for delivery beginning in the second half of 2026. (SEC acquisition release; SEC order release)
Ballard remains unprofitable: Q2 2026 net loss was $20.3 million, Adjusted EBITDA was negative $9.8 million, and operating cash use was $11.4 million. Management’s current objective is positive operating cash flow by the end of 2027 and profitability by 2028, leaving execution risk. (SEC filing)
The GeoPura acquisition introduces integration, capital-allocation, and dilution risks: Ballard paid £82.5 million in cash, issued roughly 50.8 million shares, and may owe up to £27.5 million in contingent consideration. Former GeoPura shareholders now own approximately 14.1% of Ballard on a pro forma basis. (SEC filing)
Backlog quality and visibility remain uncertain despite growth: only approximately $74.4 million of the $156.6 million backlog was expected to be delivered over the following 12 months, while Ballard says orders are concentrated among a limited number of customers and may face cancellation, delays, pricing adjustments, or cost reductions. (SEC filing)
Data summarised monthly by Lightyear AI. Last updated on 10 Sept 2026.
BLDP Financial Performance
Revenues and expenses
BLDP Earnings Performance
Company profitability
Upcoming events
No upcoming events
BLDP News
AllArticlesVideos
Funds containing BLDP
AllEURUSDGBP
Fund name | Fund size | $BLDP weighting |
|---|---|---|
SPDR MSCI All Country World IM€SPYI | €7.5B | 0.00% |
iShares MSCI World Small Cap$WSML | $9B | 0.00% |
iShares MSCI World Small Cap€IUSN | €7.8B | 0.00% |
iShares MSCI World Small Cap£WLDS | £6.7B | 0.00% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.