Ballard Power Systems Inc. (BLDP) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Industrial - Machinery
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↓
2.23
↑+55% vs avg
5yr avg: 1.44
30Y Low0.6·High8.4
ROE
↓
-14.7%
↓+22% vs avg
5yr avg: -18.9%
30Y Low-56%·High16%
Debt/EBITDA
N/A
—
5yr avg: N/A
30Y Low18.6·High18.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BLDP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Ballard Power Systems Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $770M | $497M | $1.1B | $1.4B | $3.7B | $5.8B | $1.7B | $444M | $777M | $270M |
| Enterprise Value | $800M | $266M | $-83198763 | $372M | $530M | $2.6B | $5.1B | $1.5B | $258M | $724M | $205M |
| P/E Ratio → | -14.45 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 12.90 | 7.61 | 7.13 | 10.79 | 17.04 | 35.49 | 55.97 | 15.81 | 4.60 | 6.41 | 3.16 |
| P/B Ratio | 2.23 | 1.31 | 0.74 | 1.11 | 1.23 | 2.80 | 6.45 | 6.68 | 1.57 | 6.49 | 2.22 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
BLDP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.63 | -1.19 | 3.63 | 6.32 | 24.91 | 48.80 | 14.60 | 2.67 | 5.97 | 2.40 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | 1961.38 | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
BLDP Profitability
Margins and return-on-capital ratios measuring operating efficiency
Ballard Power Systems Inc. earns an operating margin of -80.6%, below the Industrials sector average of 4.7%. Operating margins have expanded from -159.1% to -80.6% over the past 3 years, signaling improving operational efficiency. A negative ROE of -14.7% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 2.4% | 2.4% | -31.5% | -21.3% | -15.6% | 13.4% | 20.2% | 21.1% | 30.7% | 34.3% | 28.4% |
| Operating Margin | -80.6% | -80.6% | -262.9% | -159.1% | -189.6% | -84.2% | -38.3% | -24.1% | -21.5% | -4.0% | -21.2% |
| Net Profit Margin | -91.4% | -91.4% | -465.0% | -173.6% | -207.0% | -109.5% | -49.5% | -36.9% | -28.3% | -6.6% | -25.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -14.7% | -14.7% | -39.0% | -16.5% | -14.0% | -10.3% | -8.9% | -14.7% | -13.6% | -6.7% | -18.6% |
| ROA | -12.7% | -12.7% | -35.0% | -15.3% | -12.9% | -9.5% | -7.8% | -11.4% | -10.4% | -4.5% | -12.6% |
| ROIC | -68.8% | -68.8% | -78.4% | -47.1% | -49.4% | -35.1% | -21.5% | -17.5% | -19.2% | -6.0% | -19.9% |
| ROCE | -12.3% | -12.3% | -21.5% | -14.9% | -12.6% | -7.7% | -6.6% | -8.9% | -9.5% | -3.5% | -13.3% |
BLDP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $526M exceeds total debt of $22M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.04 | 0.02 | 0.01 | 0.01 | 0.02 | 0.08 | 0.02 | 0.06 | 0.06 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | 18.64 | — |
| Net Debt / Equity | — | -0.86 | -0.86 | -0.74 | -0.77 | -0.83 | -0.83 | -0.51 | -0.66 | -0.45 | -0.54 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | -144.60 | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -42.05 | -42.05 | -149.70 | -111.41 | -130.77 | -75.10 | -34.82 | -22.84 | -49.90 | -8.13 | -29.70 |
Net cash position: cash ($526M) exceeds total debt ($22M)
BLDP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Ballard Power Systems Inc.'s current ratio of 9.86x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 9.14x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 12.25x to 9.86x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.86 | 9.86 | 9.25 | 12.25 | 14.06 | 14.78 | 16.40 | 3.56 | 5.48 | 2.61 | 2.50 |
| Quick Ratio | 9.14 | 9.14 | 8.50 | 11.60 | 13.26 | 14.16 | 15.85 | 3.09 | 4.87 | 2.17 | 2.10 |
| Cash Ratio | 8.71 | 8.71 | 8.02 | 10.67 | 12.52 | 13.55 | 14.69 | 2.29 | 4.03 | 1.53 | 1.69 |
| Asset Turnover | — | 0.15 | 0.09 | 0.10 | 0.07 | 0.07 | 0.11 | 0.31 | 0.28 | 0.68 | 0.46 |
| Inventory Turnover | 2.26 | 2.26 | 1.63 | 2.71 | 1.67 | 1.76 | 2.91 | 2.77 | 2.28 | 4.61 | 3.55 |
| Days Sales Outstanding | — | 87.18 | 167.41 | 208.82 | 168.10 | 161.82 | 199.56 | 170.26 | 145.58 | 69.46 | 47.20 |
BLDP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Ballard Power Systems Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $303M | $299M | $299M | $298M | $295M | $248M | $233M | $186M | $176M | $163M |
Peer Comparison
Compare BLDP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BLDPYou | $1B | -14.4 | — | — | 2.4% | -80.6% | -14.7% | -68.8% | — |
 PLUG | $5B | — | — | — | 99.8% | 38.1% | -175.6% | 10.9% | — |
 FCEL | $713M | -1.8 | — | — | -16.7% | -76.6% | -25.8% | -14.0% | — |
 HYMC | $3B | -37.6 | — | — | — | — | -45.1% | -90.1% | — |
 BE | $71B | -798.0 | 579.7 | 1241.1 | 29.0% | 3.6% | -12.8% | 4.1% | 24.3 |
 HTOO | $59M | -3.6 | — | — | 27.2% | -1070.5% | -205.3% | -96.5% | — |
 HYLN | $434M | -7.0 | — | — | 4.9% | -1886.4% | -26.2% | -23.7% | — |
 CLNE | $520M | -2.3 | — | — | — | — | -34.6% | — | — |
 WPRT | $35M | -1.6 | — | — | 19.1% | -8.2% | -14.7% | -10.8% | — |
 LIN | $232B | 34.3 | 20.0 | 45.6 | 43.3% | 26.3% | 17.4% | 11.3% | 2.1 |
 APD | $68B | -171.7 | 122.6 | — | 31.4% | -7.3% | -2.2% | -2.0% | 26.8 |
| Industrials Median | — | 25.7 | 13.7 | 21.2 | 33.0% | 4.7% | 8.2% | 6.3% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying BLDP stock.
What is Ballard Power Systems Inc.'s P/E ratio?
Ballard Power Systems Inc.'s current P/E ratio is -14.4x. The historical average is 3.1x.
What is Ballard Power Systems Inc.'s ROE?
Ballard Power Systems Inc.'s return on equity (ROE) is -14.7%. The historical average is -17.2%.
Is BLDP stock overvalued?
Based on historical data, Ballard Power Systems Inc. is trading at a P/E of -14.4x. Compare with industry peers and growth rates for a complete picture.
What are Ballard Power Systems Inc.'s profit margins?
Ballard Power Systems Inc. has 2.4% gross margin and -80.6% operating margin.