Ballard Power Systems Inc. | Small-cap | Industrials
$2.20
1.38%
| Ballard Power Stock Comparison:
Ballard Power vs GE VernovaBallard Power vs EatonBallard Power vs Helios TechnologiesBallard Power vs HillenbrandBallard Power vs Tennant CompanyBallard Power vs S&P 500 | Market
TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Jun 2025

Income Metrics

Revenue 17.8M
Gross Profit -1.5M -8.38%
Operating Income -26.9M -150.53%
Net Income -24.3M -136.08%
EPS (Diluted) $-0.08

Balance Sheet Metrics

Total Assets 756.6M
Total Liabilities 102.8M
Shareholders Equity 653.8M
Debt to Equity 0.16

Cash Flow Metrics

Operating Cash Flow -20.4M
Free Cash Flow -27.1M

Revenue & Profitability Trend

Ballard Power Income Statement From 2020 to 2024

Metric20242023202220212020
Revenue i69.7M102.4M81.9M104.5M103.9M
Cost of Goods Sold i91.7M124.2M95.2M90.5M82.9M
Gross Profit i-22.0M-21.8M-13.3M14.0M21.0M
Gross Margin % i-31.5%-21.3%-16.3%13.4%20.2%
Operating Expenses
Research & Development i94.5M98.3M89.7M62.2M35.5M
Selling, General & Administrative i37.0M39.0M38.9M37.6M24.8M
Other Operating Expenses i-----
Total Operating Expenses i131.5M137.3M128.6M99.8M60.4M
Operating Income i-153.5M-159.2M-142.0M-87.7M-40.9M
Operating Margin % i-220.1%-155.5%-173.5%-83.9%-39.4%
Non-Operating Items
Interest Income i-----
Interest Expense i2.1M1.2M1.5M1.5M1.6M
Other Non-Operating Income-167.7M16.4M-16.9M-25.3M-6.6M
Pre-tax Income i-323.4M-144.1M-160.3M-114.6M-49.3M
Income Tax i121.0K158.0K42.0K-216.0K130.0K
Effective Tax Rate % i0.0%0.0%0.0%0.0%0.0%
Net Income i-324.2M-177.7M-173.5M-114.2M-51.4M
Net Margin % i-465.0%-173.6%-211.9%-109.3%-49.5%
Key Metrics
EBITDA i-146.5M-155.8M-139.9M-94.1M-46.1M
EPS (Basic) i$-1.08$-0.59$-0.58$-0.39$-0.21
EPS (Diluted) i$-1.08$-0.59$-0.58$-0.39$-0.21
Basic Shares Outstanding i299310384298661041299137931295293438248481027
Diluted Shares Outstanding i299310384298661041299137931295293438248481027

Income Statement Trend

Ballard Power Balance Sheet From 2020 to 2024

Metric20242023202220212020
Assets
Current Assets
Cash & Equivalents i603.9M751.1M913.7M1.1B763.4M
Short-term Investments i2.1M2.1M2.0M3.0M2.0M
Accounts Receivable i24.2M37.5M25.8M19.4M29.3M
Inventory i56.4M45.9M58.0M51.5M28.5M
Other Current Assets4.4M7.1M6.0M4.4M3.6M
Total Current Assets i698.9M864.7M1.0B1.2B854.3M
Non-Current Assets
Property, Plant & Equipment i163.8M146.3M109.4M77.8M66.5M
Goodwill i1.8M82.0M133.8M149.3M84.3M
Intangible Assets i1.8M1.4M5.2M20.8M3.8M
Long-term Investments-----
Other Non-Current Assets495.0K547.0K370.0K348.0K343.0K
Total Non-Current Assets i78.4M212.8M218.6M211.8M121.3M
Total Assets i777.3M1.1B1.2B1.4B975.6M
Liabilities
Current Liabilities
Accounts Payable i12.3M13.7M20.4M13.7M9.1M
Short-term Debt i2.9M4.5M3.9M3.2M2.7M
Current Portion of Long-term Debt-----
Other Current Liabilities5.6M5.6M6.1M9.1M5.3M
Total Current Liabilities i75.6M70.6M73.2M83.2M52.1M
Non-Current Liabilities
Long-term Debt i21.0M13.4M11.8M13.9M15.2M
Deferred Tax Liabilities i--03.6M0
Other Non-Current Liabilities2.6M1.9M2.3M8.9M1.8M
Total Non-Current Liabilities i28.7M15.7M15.0M29.6M22.6M
Total Liabilities i104.3M86.3M88.2M112.7M74.7M
Equity
Common Stock i2.4B2.4B2.4B2.4B1.9B
Retained Earnings i-2.1B-1.7B-1.6B-1.4B-1.3B
Treasury Stock i-----
Other Equity-----
Total Shareholders Equity i673.0M991.2M1.2B1.3B900.9M
Key Metrics
Total Debt i23.9M17.9M15.7M17.1M17.9M
Working Capital i623.3M794.2M955.3M1.1B802.2M

Balance Sheet Composition

Ballard Power Cash Flow Statement From 2020 to 2024

Metric20242023202220212020
Operating Activities
Net Income i-324.2M-177.7M-173.5M-114.2M-51.4M
Depreciation & Amortization i12.0M13.5M13.8M9.8M7.6M
Stock-Based Compensation i7.5M11.0M9.4M9.7M6.2M
Working Capital Changes i1.3M-13.6M-15.6M-12.2M-11.9M
Operating Cash Flow i-303.8M-166.7M-179.8M-107.2M-49.4M
Investing Activities
Capital Expenditures i-25.8M-41.2M-33.9M-13.2M-12.6M
Acquisitions i-100.0K-2.0M-24.2M-19.5M-22.5M
Investment Purchases i-12.0M-11.9M-17.9M-51.8M-2.0M
Investment Sales i01.0M1.0M336.0K-
Investing Cash Flow i-34.7M-54.1M-75.0M-84.1M-36.1M
Financing Activities
Share Repurchases i-----
Dividends Paid i-----
Debt Issuance i-----
Debt Repayment i-3.3M-4.0M-3.3M-2.8M-2.5M
Financing Cash Flow i-1.8M-4.0M-3.3M524.5M692.1M
Free Cash Flow i-135.7M-145.9M-166.7M-95.2M-55.8M
Net Change in Cash i-340.4M-224.8M-258.2M333.2M606.6M

Cash Flow Trend

Ballard Power Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) -2.00
Forward P/E -3.70
Price to Book 0.98
Price to Sales 8.63
PEG Ratio 0.07

Profitability Ratios

Profit Margin -31.52%
Operating Margin -153.30%
Return on Equity -38.04%
Return on Assets -9.88%

Financial Health

Current Ratio 9.31
Debt to Equity 3.73
Beta 1.78

Per Share Data

EPS (TTM) $-0.99
Book Value per Share $2.12
Revenue per Share $0.24

Peer Financial Comparison

CompanyMarket CapP/E RatioP/B RatioROEProfit MarginDebt/Equity
bldp655.9M-2.000.98-38.04%-31.52%3.73
GE Vernova 173.0B148.8918.9511.41%3.16%10.65
Eaton 144.5B37.887.8920.73%15.10%62.39
Helios Technologies 1.8B52.231.973.93%4.46%49.63
Hillenbrand 1.7B31.191.32-0.79%-0.63%131.17
Tennant Company 1.5B25.242.309.49%4.84%38.05

Financial data is updated regularly. All figures are in the company's reporting currency.