BLDP Stock Financial Analysis - Ballard Power Systems Inc. (TSX) Stock

Overview

Ballard Power Systems Inc., based in Canada, operates predominantly in the clean energy sector, specifically focusing on the design, development, and manufacture of proton exchange membrane fuel cell products. Primarily serving the portable power, stationary power, and transportation markets, Ballard is a pioneer in developing fuel cell technology solutions aimed at reducing carbon emissions. Key projects include collaborations with major automotive and aerospace companies to integrate its fuel cell technologies into buses, commercial trucks, and even drones. Ballard's continued innovation and strategic partnerships aim to capitalize on the growing global shift towards sustainable energy solutions, further strengthening its market position in the burgeoning hydrogen fuel cell industry.

Quality, Value, Momentum Scores

This card shows the Quality, Value, and Momentum scores for the company

Quality

The QualityScore is a proprietary scoring model that identifies high quality companies, based on cash generating efficiencies.

Value

Proprietary scoring model that ranks companies based on their relative valuation. Scores range from 0 to 100, with 100 being the most undervalued.

Momentum

Proprietary scoring model that ranks companies on their six-month momentum.

Fund Sentiment

The Fund Sentiment (fka Ownership) score is a proprietary quantitative model that ranks companies based on levels of ownership accumulation.

QVM

The QVM Score is a proprietary scoring model that combines Quality, Value, and Momentum into a single metric that ranks companies from 0 to 100.

Income Statement: Revenue, Operating Income, Net Income

The revenue for Ballard Power Systems Inc. as of June 30, 2025 is 72.51 MM.
The operating income for Ballard Power Systems Inc. as of June 30, 2025 is -138.80 MM.
The net income for Ballard Power Systems Inc. as of June 30, 2025 is -296.81 MM.

Period End (TTM)	Revenue (MM)	Operating Income (MM)	Net Income (MM)
2025-06-30	72.51	-138.80	-296.81
2025-03-31	70.67	-152.65	-303.99
2024-12-31	69.73	-166.25	-324.25
2024-09-30	91.96	-175.42	-329.02
2024-06-30	104.27	-165.69	-186.46
2024-03-31	103.58	-163.07	-185.09
2023-12-31	102.37	-160.62	-177.72
2023-09-30	74.16	-145.06	-160.90
2023-06-30	68.44	-150.00	-141.32
2023-03-31	74.06	-151.68	-167.02
2022-12-31	81.86	-142.18	-173.49
2022-09-30	100.03	-139.00	-182.90
2022-06-30	103.90	-120.93	-170.87
2022-03-31	107.93	-101.29	-136.99
2021-12-31	104.50	-86.08	-114.23
2021-09-30	96.39	-74.00	-85.09
2021-06-30	96.79	-57.70	-65.99
2021-03-31	97.61	-45.09	-55.51
2020-12-31	103.88	-39.97	-51.38
2020-09-30	117.05	-33.25	-46.96

Income Statement: EPS

Period End (TTM)	Earnings Per Share Basic	Earnings Per Share Diluted
2025-06-30
2025-03-31	-1.02	-1.02
2024-12-31	-1.08
2024-09-30	-1.10	-1.10
2024-06-30	-0.62	-0.62
2024-03-31	-0.62	-0.62
2023-12-31	-0.59
2023-09-30	-0.54	-0.54
2023-06-30	-0.47	-0.47
2023-03-31	-0.56	-0.56
2022-12-31	-0.58
2022-09-30	-0.61	-0.61
2022-06-30	-0.57	-0.57
2022-03-31	-0.46	-0.46
2021-12-31	-0.39
2021-09-30	-0.30	-0.30
2021-06-30	-0.24	-0.24
2021-03-31	-0.21	-0.21
2020-12-31	-0.21
2020-09-30	-0.20	-0.20

Cash Flow: Operations, Investing, Financing

The cash from operating activities for Ballard Power Systems Inc. as of June 30, 2025 is -97.74 MM.
The cash from investing activities for Ballard Power Systems Inc. as of June 30, 2025 is -30.22 MM.
The cash from financing activities for Ballard Power Systems Inc. as of June 30, 2025 is -1.52 MM.

Period End (TTM)	Cash From Operating Activities (MM)	Cash From Investing Activities (MM)	Cash From Financing Activities (MM)
2025-06-30	-97.74	-30.22	-1.52
2025-03-31	-112.51	-29.71	-1.53
2024-12-31	-108.10	-36.51	-1.53
2024-09-30	-102.03	-41.25	-3.46
2024-06-30	-95.42	-38.11	-3.47
2024-03-31	-88.01	-51.29	-3.59
2023-12-31	-104.57	-54.28	-3.68
2023-09-30	-107.41	-63.49	-3.40
2023-06-30	-115.75	-67.77	-3.19
2023-03-31	-127.04	-74.36	-2.86
2022-12-31	-132.17	-75.56	-2.41
2022-09-30	-141.66	-122.90	-2.05
2022-06-30	-125.78	-113.00	-2.02
2022-03-31	-106.43	-92.72	-1.64
2021-12-31	-80.48	-85.63	526.91
2021-09-30	-56.46	-26.02	945.36
2021-06-30	-53.35	-29.32	1,157.60
2021-03-31	-48.56	-33.16	1,171.20
2020-12-31	-42.93	-36.39	696.53
2020-09-30	-32.16	-40.15	280.35

Valuation Metrics : PE, PriceToBook, PriceToTBV

P/Book: The current closing price divided by the book value per share.

P/TBV: The current price divided by the tangible book value per share.

Period End (TTM)	p/e	P/Book	P/TBV
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31
2020-09-30

Valuation Metrics : EBitToEv, EBit3YrAvgToEv

Period End (TTM)	EBIT/EV	EBIT (3y)/EV
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31
2020-09-30

Management Effectiveness

The roa for Ballard Power Systems Inc. as of June 30, 2025 is -0.30.
The roe for Ballard Power Systems Inc. as of June 30, 2025 is -0.33.
The roic for Ballard Power Systems Inc. as of June 30, 2025 is -0.45.
The croic for Ballard Power Systems Inc. as of June 30, 2025 is -0.21.
The ocroic for Ballard Power Systems Inc. as of June 30, 2025 is -0.17.

Period End (TTM)	ROA	ROE	ROIC	CROIC	OCROIC
2025-06-30	-0.30	-0.33	-0.45	-0.21	-0.17
2025-03-31	-0.31	-0.32	-0.47	-0.21	-0.16
2024-12-31	-0.31	-0.33	-0.44	-0.20	-0.14
2024-09-30	-0.17	-0.32	-0.20	-0.14	-0.10
2024-06-30	-0.15	-0.16	-0.19	-0.15	-0.09
2024-03-31	-0.14	-0.15	-0.18	-0.16	-0.10
2023-12-31	-0.12	-0.14	-0.15	-0.17	-0.10
2023-09-30	-0.11	-0.11	-0.13	-0.17	-0.10
2023-06-30	-0.13	-0.11	-0.13	-0.17	-0.10
2023-03-31	-0.12	-0.13	-0.15	-0.18	-0.11
2022-12-31	-0.13	-0.13	-0.15	-0.22	-0.12
2022-09-30	-0.12	-0.13	-0.15	-0.22	-0.12
2022-06-30	-0.09	-0.12	-0.14	-0.19	-0.10
2022-03-31	-0.08	-0.10	-0.11	-0.15	-0.08
2021-12-31	-0.09	-0.13	-0.08	0.27	-0.04
2021-09-30	-0.15	-0.17	-0.06	0.62	-0.04
2021-06-30	-0.18	-0.23	-0.05	0.76	-0.04
2021-03-31	-0.15	-0.19	-0.04	0.76	-0.03
2020-12-31	-0.15	-0.21	-0.06	0.67	-0.05
2020-09-30	-0.14	-0.18	-0.09	0.41	-0.06

Gross Margins

The gross margin for Ballard Power Systems Inc. as of June 30, 2025 is -0.29.
The net margin for Ballard Power Systems Inc. as of June 30, 2025 is -4.30.
The operating margin for Ballard Power Systems Inc. as of June 30, 2025 is -2.16.

Gross Margin: The Gross Margin is the ratio of revenue left after substracting the Cost of Goods Sold. It is calculated as 1.0 - (Revenue - COGS ) / Revenue.

Net Margin: The Net Margin (aka Profit Margin) is the ratio of revenue left after substracting the Net Income. It is calculated as Net Income / Revenue.

Operating Margin: The Operaing Margin is the ratio of revenue left after substracting the Operating Income. It is calculated as Operating Income / Revenue.

Period End (TTM)	Gross Margin	Net Margin	Operating Margin
2025-06-30	-0.29	-4.30	-2.16
2025-03-31	-0.32	-4.65	-2.38
2024-12-31	-0.31	-3.58	-1.91
2024-09-30	-0.23	-1.79	-1.59
2024-06-30	-0.21	-1.79	-1.58
2024-03-31	-0.21	-1.74	-1.57
2023-12-31	-0.23	-2.10	-2.08
2023-09-30	-0.28	-2.01	-2.31
2023-06-30	-0.24	-2.01	-2.31
2023-03-31	-0.16	-2.20	-2.13
2022-12-31	-0.02	-1.83	-1.39
2022-09-30	0.05	-1.83	-1.39
2022-06-30	0.10	-1.64	-1.16
2022-03-31	0.13	-1.27	-0.94
2021-12-31	0.15	-1.09	-0.82
2021-09-30	0.17	-0.88	-0.77
2021-06-30	0.17	-0.68	-0.60
2021-03-31	0.19	-0.57	-0.46
2020-12-31	0.20	-0.49	-0.38
2020-09-30	0.20	-0.40	-0.28

GB:0QY5	$2.66
CH:BLD
US:BLDP	US$1.99
BG:PO0
DE:PO0	€1.69