Ballard Power Systems Inc.
Ballard Power Systems Inc. is a clean technology company that designs, develops, manufactures, sells, and services proton exchange membrane fuel cell products. Ballard Power Systems Inc. focuses on fuel cell power solutions for bus, truck, rail, marine, stationary, and emerging-market applications, including material handling and off-road equipment. Its offerings also include technology solutions, after-sales support, training, engineering services, and systems integration for customers adopting zero-emission power systems. The company serves transportation, industrial, and energy-related markets where efficient, low-emission power generation is needed. Headquartered in Burnaby, Canada, Ballard Power Systems Inc. plays a specialized role in the global hydrogen and fuel cell industry by supplying products and services that support electrification and decarbonization across multiple end-use sectors.
$1.49
-$0.03 (-1.97%)
EOD Oct 22, 2026
The business is unprofitable at the operating level (-80.28% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 42.5% YoY with margins expanding 139.8pp.
Negative free cash flow of -$66M. The business is consuming cash, not generating it.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$103M
▲ +42.5% YoY
Net Income (TTM)
-$81M
▲ +72.0% YoY
Op. Margin
-61.90%
▲ +139.8pp YoY
ROIC
-9.63%
▲ +4.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$48M
▲ +51.1% YoY
Op. Cash Flow (TTM)
-$40M
▲ +48.9% YoY
Net Debt
-$509M
Net Cash Position
Cash & Equiv.
$531M
3Y CAGR: +6.7%
Continue Research
Is Ballard Power Systems (BLDP) overvalued?
Ballard Power Systems (BLDP)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Ballard Power Systems scores 42/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
Is Ballard Power Systems a high-quality business?+
Ballard Power Systems scores 42 out of 100 on Intrinsiqq's quality score, a weighted blend of 6 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a -61.9% operating margin and a -9.6% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Is Ballard Power Systems a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh BLDP's valuation and scores 42/100 on quality (mixed). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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