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Home CompaniesBallard Power Systems Inc

Ballard Power Systems Inc

Industrials Electrical Equipment & Parts
PortfolioPortfolio WatchlistWatchlist
Company price
1.535 USD 0.07 ( 5.14%)
Last update at 2026-11-06T21:16:00Z
VOLUME
1603102
Market Cap
932.83M

Momentum Score

…

Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers products for various applications focusing on power products 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, as well as offers engineering and technology transfer services. The company operates in the United States, Poland, Canada, Germany, the United Kingdom, Egypt, Spain, China, the Netherlands, Denmark, France, and internationally. Ballard Power Systems Inc. was founded in 1979 and is headquartered in Burnaby, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
1.46
Low
1.54
High
52 Week Price Range
1.16
Low
4.10
High

Momentum Score

…
Loading momentum score…

A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Ballard Power Systems develops PEM fuel cell modules and systems for heavy-duty transport and stationary power, supplying vehicle OEMs and system integrators. Long-term growth drivers include decarbonization policies, rising interest in hydrogen for buses, trucks and marine uses, and potential OEM adoption that could support scale and cost reductions.
Key risks are uncertain commercial adoption, ongoing losses and capital requirements, strong competition from batteries and alternative fuel-cell providers, reliance on supportive policy and hydrogen infrastructure, and execution risk scaling production.

Risk Score
High

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
1.46
Dividend Yield
-
Revenue TTM
99.37M
Revenue Per Share
0.33
Gross Profit TTM
5.46M
Debt / Equity
0.04
ROE
-14.40%
Net Debt
-503.99M
ROCE
-13.14%
Diluted EPS TTM
-0.29

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax -92.45M -323.41M -144.05M -177.03M -114.61M
Net income -92.49M -324.25M -177.72M -173.49M -114.40M
Selling general administrative 18.45M 23.52M 23.87M 28.94M 24.98M
Selling and marketing expenses 8.05M 13.50M 15.11M 12.85M 12.90M
Gross profit 2.40M -21.98M -21.83M -13.08M 14.01M
Reconciled depreciation 4.13M 11.97M 13.53M 13.36M 9.75M
Ebit -81.51M -321.26M -135.79M -158.90M -87.97M
Ebitda -77.38M -309.29M -122.27M -149.20M -94.66M
Depreciation and amortization 4.13M 11.97M 13.53M 9.70M -6.69M
Operating income -81.51M -183.30M -162.90M -158.90M -87.97M
Other operating expenses 182.62M 253.03M 265.27M 145.80M 192.48M
Interest expense 1.94M 2.15M 1.21M 1.28M 1.29M
Tax provision 0.05M 0.12M 0.16M -3.54M -0.22M
Net interest income -1.23M -2.17M -1.10M -1.28M -1.59M
Income tax expense 0.05M 0.12M 0.16M -3.54M -0.22M
Total revenue 101.14M 69.73M 102.37M 83.80M 104.50M
Total operating expenses 83.91M 161.32M 141.07M 145.80M 101.99M
Cost of revenue 98.71M 91.71M 124.20M 96.88M 90.49M
Total other income expense net -10.94M -140.11M 18.85M -18.13M -26.64M
Discontinued operations - - - - 0.16M
Net income from continuing ops -90.91M -323.53M -144.21M -173.49M -114.40M
Net income applicable to common shares - - - -173.49M -114.23M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 681.15M 777.31M 1072.03M 1247.08M 1440.94M
Intangible assets 0.25M 1.76M 1.41M 5.21M 20.79M
Other current assets 2.20M 4.43M 7.03M 6.02M 4.37M
Total liab 92.29M 104.32M 85.88M 88.17M 112.73M
Total stockholder equity 588.86M 672.99M 986.14M 1158.91M 1328.22M
Other current liab 37.10M 53.10M 47.52M 40.80M 54.12M
Common stock 2428.82M 2428.62M 2413.23M 2420.40M 2416.26M
Capital stock 2433.24M 2428.62M 2425.64M 2420.40M 2416.26M
Retained earnings -2147.84M -2060.84M -1728.62M -1560.76M -1387.58M
Other liab - - - 3.16M 15.69M
Good will - 0.00M 40.07M 64.27M 64.27M
Other assets - - - 0.37M 0.35M
Cash 526.09M 603.95M 747.29M 913.73M 1123.89M
Total current liabilities 60.88M 75.59M 70.22M 73.17M 83.16M
Current deferred revenue 8.39M 6.64M 4.56M 8.03M 12.11M
Net debt -503.99M -580.05M -729.48M -898.00M -1106.78M
Short term debt 3.41M 2.90M 4.48M 3.90M 3.24M
Short long term debt total 22.10M 23.89M 17.81M 15.73M 17.12M
Other stockholder equity 309.48M 309.97M 304.48M 300.76M 297.82M
Property plant equipment - - - 82.36M 56.06M
Total current assets 600.34M 698.88M 860.32M 1028.51M 1229.19M
Long term investments 48.01M 45.75M 54.25M 66.36M 70.29M
Net tangible assets - - - 1089.43M 1243.16M
Short term investments 4.19M 2.10M 2.10M 2.01M 3.00M
Net receivables 24.16M 31.98M 58.27M 48.70M 46.40M
Inventory 43.69M 56.42M 45.64M 58.05M 51.52M
Accounts payable 11.99M 12.30M 13.65M 20.44M 13.69M
Accumulated other comprehensive income -1.60M -4.76M -2.95M -1.49M 1.72M
Non currrent assets other 0.51M 0.49M 0.54M 0.37M 0.35M
Non current assets total 80.81M 78.43M 211.71M 218.57M 211.76M
Capital lease obligations 22.14M 23.89M 17.90M 15.73M 17.12M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments -10.84M -36.51M -54.28M -75.56M -63.77M
Change to liabilities - - - -1.90M 3.63M
Total cashflows from investing activities -21.31M -36.51M -54.28M -75.56M -85.63M
Net borrowings -3.04M -3.33M -4.01M -3.32M -2.80M
Total cash from financing activities -2.63M -1.53M -3.68M -2.41M 526.91M
Change to operating activities - - - 0.95M -1.87M
Net income -92.51M -324.25M -177.72M -121.70M -114.23M
Change in cash -77.50M -147.18M -162.60M -210.19M 360.46M
Begin period cash flow 603.59M 751.13M 913.73M 1123.89M 763.43M
End period cash flow 526.09M 603.95M 751.13M 913.70M 1123.89M
Total cash from operating activities -57.15M -108.10M -104.57M -132.20M -80.48M
Issuance of capital stock - - - 0.00M 527.29M
Depreciation 4.13M 11.97M 13.53M 13.36M 9.75M
Other cashflows from investing activities - 1.40M -0.15M - -
Change to inventory 10.25M -16.95M -0.90M -6.53M -23.00M
Change to account receivables 6.15M 13.35M -12.91M -2.94M 9.64M
Other cashflows from financing activities -0.05M 1.80M 0.34M 0.92M 2.42M
Change to netincome - - - 38.39M 35.60M
Capital expenditures 10.02M 27.62M 41.37M 34.48M 14.70M
Change in working capital 18.36M 4.98M -17.09M -10.40M -11.60M
Stock based compensation 6.34M 7.46M 10.96M 9.41M 9.67M
Other non cash items 12.86M 191.48M 65.75M -19.29M 26.24M
Free cash flow -67.17M -135.72M -145.94M -166.68M -95.18M

Peer Comparison*

Sector: Industrials Industry: Electrical Equipment & Parts

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
BLDP
Ballard Power Systems Inc		 0.07
5.14%		 1.53 - 98.04 9.39 1.58 4.24 -4.56
CYATY
Contemporary Amperex Technology Co., Limited		 -0.19
1.55%		 12.06 36.64 32.15 0.91 7.88 3.67 16.91
ABBNY
ABB Ltd		 -0.08
0.10%		 81.28 38.41 30.96 5.22 10.79 5.24 24.44
ABLZF
ABB Ltd		 -0.99
1.21%		 80.96 33.82 23.15 4.71 10.45 4.77 22.47
BE
Bloom Energy Corp		 5.14
3.07%		 172.66 332.50 53.48 24.54 46.97 24.35 216.72

Profile*

Ballard Power Systems Inc

Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers products for various applications focusing on power products 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, as well as offers engineering and technology transfer services. The company operates in the United States, Poland, Canada, Germany, the United Kingdom, Egypt, Spain, China, the Netherlands, Denmark, France, and internationally. Ballard Power Systems Inc. was founded in 1979 and is headquartered in Burnaby, Canada.

9000 Glenlyon Parkway, Burnaby, BC, Canada, V5J 5J8

604-454-0900

https://www.ballard.com

492

Name Title Year Born
Mr. R. Randall MacEwen CEO, Pres & Non-Independent Director 1969
Mr. Paul Dobson Sr. VP & CFO 1966
Dr. Kevin Colbow Sr. VP & CTO NA
Mr. Jesper Themsen Pres & CEO of Europe NA
Kate Charlton VP Corp. Fin. & Investor Relations NA
Mr. Kerry Brent Hillier Gen. Counsel & Corp. Sec. NA
Mr. Nicolas Pocard VP of Marketing & Strategic Partnerships NA
Ms. Sarbjot Sidhu Sr. VP and Chief People & Culture Officer NA
Mr. Alfred Wong Managing Director of Asia Pacific NA
Mr. David Mucciacciaro Sr. VP & Chief Commercial Officer NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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