BLDP
Ballard Power Systems Inc.
BLDP lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to shrink, though they disagree widely on how much.
BLDP Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
BLDP's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
BLDP PE Valuation
BLDP has no meaningful PE right now: it lost money over the past year.
BLDP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect BLDP's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
BLDP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.26 | +$0.72 |
| Q1 2026 | -$0.27 | +$0.74 |
| Q4 2025 | -$0.30 | +$0.78 |
| Q3 2025 | -$0.39 | +$0.72 |
| Q2 2025 | -$0.98 | -$0.34 |
| Q1 2025 | -$1.01 | -$0.38 |
| Q4 2024 | -$1.08 | -$0.48 |
| Q3 2024 | -$1.11 | -$0.57 |
BLDP is still losing money, but far less than before: $0.26 per share over the past year, against $1.11 at its worst in late 2024.
BLDP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $20.1M | +13% |
| Q1 2026 | $19.4M | +26% |
| Q4 2025 | $33.6M | +37% |
| Q3 2025 | $32.5M | +120% |
| Q2 2025 | $17.8M | +11% |
| Q1 2025 | $15.4M | +6.5% |
| Q4 2024 | $24.5M | -47% |
| Q3 2024 | $14.8M | -45% |
BLDP's revenue is recovering but still below its 2023 peak: $20M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -62% | +124 points |
| Q1 2026 | -67% | +122 points |
| Q4 2025 | -35% | +113 points |
| Q3 2025 | -92% | +335 points |
| Q2 2025 | -186% | +72 points |
| Q1 2025 | -189% | +105 points |
| Q4 2024 | -148% | -62 points |
| Q3 2024 | -428% | -289 points |
BLDP's operating margin was −62% last quarter, up 124 points from the same quarter a year ago.
BLDP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$12.2M | +$10.4M |
| Q1 2026 | -$8.4M | +$18.7M |
| Q4 2025 | $7.8M | +$38.2M |
| Q3 2025 | -$24.3M | +$16M |
| Q2 2025 | -$22.7M | +$15M |
| Q1 2025 | -$27.1M | +$396K |
| Q4 2024 | -$30.3M | -$4.4M |
| Q3 2024 | -$40.2M | -$11.2M |
BLDP has burned cash in almost every quarter: −$37M over the past year, against −$120M the year before.
BLDP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +560K shares |
| 1 year | +0.5% | +1.6M shares |
| 3 years | +0.9% | +2.8M shares |
| 5 years | +1.3% | +3.9M shares |
| Available history | +29% | +68.7M shares |
BLDP has 301M diluted shares, up 0.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
BLDP hasn't bought back shares in the past year.
BLDP Net Leverage
BLDP's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
BLDP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.4 | Neutral |
| Stochastic | 6.1 | Oversold |
BLDP's weekly RSI is 31 (neutral) and its Stochastic is 6 (oversold).
BLDP PE vs Industrials Sector
BLDP has no meaningful PE right now: it lost money over the past year.
BLDP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.70 | 18% below |
| 20 week MA | $2.26 | 38% below |
| 50 week MA | $2.79 | 50% below |
| 100 week MA | $2.35 | 40% below |
| 200 week MA | $2.90 | 52% below |
BLDP is in a downtrend: it's below all five of its weekly moving averages, and 52% below its 200-week average.
BLDP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.94 | $23.5 | +238% |
| 2021 | $23.5 | $12.7 | -46% |
| 2022 | $12.7 | $4.79 | -62% |
| 2023 | $4.79 | $3.70 | -23% |
| 2024 | $3.70 | $1.69 | -54% |
| 2025 | $1.69 | $2.63 | +56% |
| 2026 YTD | $2.63 | $1.40 | -47% |
BLDP's yearly returns have swung widely, from +238% in 2020 to −62% in 2022. It's down 47% so far in 2026.