BLDP
Ballard Power Systems Inc.
BLDP has lower modeled downside risk, despite its lower overall score.
RDW
Redwire Corporation
RDW has the edge over BLDP overall, supported by stronger modeled upside.
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.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW'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.
RDW PE Valuation
RDW 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.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect RDW's losses to shrink, with revenue growing.
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 has the edge over RDW on earnings, with more consistent year-over-year improvement.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
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.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW has the edge over BLDP on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW has the edge over BLDP on profitability, with a higher operating margin.
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 the edge over RDW on cash flow, with more consistent year-over-year improvement.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has burned cash in most quarters: −$137M over the past year, against −$160M 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 the edge over RDW on shareholder dilution, with a more favorable share count trend.
| 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.
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
BLDP Net Leverage
BLDP's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
RDW Net Leverage
RDW'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).
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
BLDP PE vs Industrials Sector
BLDP has no meaningful PE right now: it lost money over the past year.
RDW PE vs Industrials Sector
RDW 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.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% 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.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW has the edge over BLDP on returns for 2026, with the stronger performance.