Ballard Power Systems Inc
Ballard Power Systems Inc designs and manufactures fuel cell systems for transportation and stationary power applications, generating revenue through the sale of these electrical equipment solutions.
Business. Ballard Power Systems Inc (BLDP.TO) is an industrial company operating in the electrical equipment industry. The firm generates revenue through the sale of products. It is headquartered in Canada and is primarily listed on the Toronto Stock Exchange. Specific operating segments and geographic breakdowns are not disclosed in the available data.
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
- Congressional trades
- CongressAustin Scott — Ballard Power Systems, Inc.2024-07-31 · Republican · GA · Sale · $1,001 - $15,000
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Ballard Power Systems Inc (BLDP.TO) is an industrial company operating in the electrical equipment industry. The firm generates revenue through the sale of products. It is headquartered in Canada and is primarily listed on the Toronto Stock Exchange. Specific operating segments and geographic breakdowns are not disclosed in the available data.
Ballard Power Systems maintains a highly liquid balance sheet, holding $527.1 million in cash and equivalents against total liabilities of $92.5 million. The current ratio stands at 9.86, indicating substantial short-term solvency, while long-term debt is minimal at $22.1 million, resulting in a debt-to-equity ratio of 0.04. This capital structure provides a strong buffer against operational volatility, though the company trades at a price-to-book multiple of 2.09, reflecting market expectations for future growth despite current unprofitability.
Profitability remains negative, with an operating income of -$111.7 million and a net loss of -$90.9 million on revenues of $99.4 million. The gross profit of $5.5 million suggests significant operating leverage challenges, as gross margins are compressed relative to total revenue. Return on equity is -15.41% and return on assets is -13.32%, indicating that the company is currently destroying shareholder value through its operations. The negative EV/EBITDA of -6.52 further underscores the lack of current earnings power.
- Strong liquidity position with $527.1 million in cash and a current ratio of 9.86.
- Significant operational losses with net income of -$90.9 million and negative ROE of -15.41%.
- Minimal debt exposure with a debt-to-equity ratio of 0.04.
- High cash burn rate with free cash flow of -$96.9 million.
- Low dilution and liquidity risk flags in the current assessment.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
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sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
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ESG
Risk factors
- No immediate filing-based liquidity or dilution flags were detected.
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- Reference data
- Price To Tangible Bookmarket_price / (tangible_book_value / shares_outstanding_diluted)
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Return On Equitynet_income / total_equity
- Enterprise Valuemarket_cap - net_cash
- Ev To Revenueenterprise_value / revenue
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Ballard Power Systems Inc Market data — financials · 2026-07-27
- reconciler_enqueue (reconciler) on BLDP.TO · 2026-07-27
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,00 %$14M
- Investment Managers · as of 2026-03-310,00 %$29M
- Funds · as of 2026-03-310,00 %$10M
- Investment Managers · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$4M
- Investment Managers · as of 2026-03-310,00 %$12M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2024-12-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2025-12-310,00 %$1M
- Investment Managers · as of 2024-06-300,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
Leadership
- Randy MacEwenPresident, Chief Executive Officer, Director