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BALLARD POWER SYSTEMS INC (BLDP.CA) Stock Fundamental Analysis

TSX:BLDP - Toronto Stock Exchange - CA0585861085 - Common Stock - Currency: CAD

1.71  -0.03 (-1.72%)

Fundamental Rating

3

Taking everything into account, BLDP scores 3 out of 10 in our fundamental rating. BLDP was compared to 14 industry peers in the Electrical Equipment industry. BLDP scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. BLDP is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year BLDP has reported negative net income.
In the past year BLDP has reported a negative cash flow from operations.
In the past 5 years BLDP always reported negative net income.
BLDP had a negative operating cash flow in each of the past 5 years.
BLDP.CA Yearly Net Income VS EBIT VS OCF VS FCFBLDP.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -100M -200M -300M

1.2 Ratios

The Return On Assets of BLDP (-41.71%) is better than 71.43% of its industry peers.
BLDP has a Return On Equity of -48.18%. This is in the better half of the industry: BLDP outperforms 71.43% of its industry peers.
Industry RankSector Rank
ROA -41.71%
ROE -48.18%
ROIC N/A
ROA(3y)-24.04%
ROA(5y)-17.06%
ROE(3y)-27.03%
ROE(5y)-19.08%
ROIC(3y)N/A
ROIC(5y)N/A
BLDP.CA Yearly ROA, ROE, ROICBLDP.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -10 -20 -30 -40

1.3 Margins

The Profit Margin and Operating Margin and Gross Margin are not available for BLDP so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
BLDP.CA Yearly Profit, Operating, Gross MarginsBLDP.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300 -400

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5

2. Health

2.1 Basic Checks

BLDP does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, BLDP has about the same amount of shares outstanding.
Compared to 5 years ago, BLDP has more shares outstanding
The debt/assets ratio for BLDP is higher compared to a year ago.
BLDP.CA Yearly Shares OutstandingBLDP.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
BLDP.CA Yearly Total Debt VS Total AssetsBLDP.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B

2.2 Solvency

Based on the Altman-Z score of -1.20, we must say that BLDP is in the distress zone and has some risk of bankruptcy.
BLDP has a Altman-Z score (-1.20) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.03 indicates that BLDP is not too dependend on debt financing.
The Debt to Equity ratio of BLDP (0.03) is better than 78.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z -1.2
ROIC/WACCN/A
WACC7.43%
BLDP.CA Yearly LT Debt VS Equity VS FCFBLDP.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

2.3 Liquidity

BLDP has a Current Ratio of 9.25. This indicates that BLDP is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 9.25, BLDP belongs to the best of the industry, outperforming 92.86% of the companies in the same industry.
A Quick Ratio of 8.50 indicates that BLDP has no problem at all paying its short term obligations.
BLDP's Quick ratio of 8.50 is amongst the best of the industry. BLDP outperforms 92.86% of its industry peers.
Industry RankSector Rank
Current Ratio 9.25
Quick Ratio 8.5
BLDP.CA Yearly Current Assets VS Current LiabilitesBLDP.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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4

3. Growth

3.1 Past

BLDP shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -83.05%.
BLDP shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -31.88%.
BLDP shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -7.98% yearly.
EPS 1Y (TTM)-83.05%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%11.76%
Revenue 1Y (TTM)-31.88%
Revenue growth 3Y-12.62%
Revenue growth 5Y-7.98%
Sales Q2Q%-46.86%

3.2 Future

BLDP is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 14.87% yearly.
The Revenue is expected to grow by 34.73% on average over the next years. This is a very strong growth
EPS Next Y62.54%
EPS Next 2Y28.91%
EPS Next 3Y20.19%
EPS Next 5Y14.87%
Revenue Next Year26.7%
Revenue Next 2Y26.26%
Revenue Next 3Y28.51%
Revenue Next 5Y34.73%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
BLDP.CA Yearly Revenue VS EstimatesBLDP.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 200M 400M 600M
BLDP.CA Yearly EPS VS EstimatesBLDP.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2030 2031 0 -0.5 -1

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1

4. Valuation

4.1 Price/Earnings Ratio

BLDP reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for BLDP. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
BLDP.CA Price Earnings VS Forward Price EarningsBLDP.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
BLDP.CA Per share dataBLDP.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1 2 3

4.3 Compensation for Growth

BLDP's earnings are expected to grow with 20.19% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y28.91%
EPS Next 3Y20.19%

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0

5. Dividend

5.1 Amount

BLDP does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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BALLARD POWER SYSTEMS INC

TSX:BLDP (4/29/2025, 7:00:00 PM)

1.71

-0.03 (-1.72%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)03-13 2025-03-13/bmo
Earnings (Next)05-06 2025-05-06/bmo
Inst Owners28.55%
Inst Owner ChangeN/A
Ins Owners0.17%
Ins Owner ChangeN/A
Market Cap512.04M
Analysts42.22
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-213.45%
Min EPS beat(2)-412.82%
Max EPS beat(2)-14.08%
EPS beat(4)2
Avg EPS beat(4)-101.18%
Min EPS beat(4)-412.82%
Max EPS beat(4)18.61%
EPS beat(8)3
Avg EPS beat(8)-59.95%
EPS beat(12)4
Avg EPS beat(12)-44.63%
EPS beat(16)4
Avg EPS beat(16)-43.65%
Revenue beat(2)0
Avg Revenue beat(2)-29.77%
Min Revenue beat(2)-38.59%
Max Revenue beat(2)-20.95%
Revenue beat(4)0
Avg Revenue beat(4)-22.54%
Min Revenue beat(4)-38.59%
Max Revenue beat(4)-14.86%
Revenue beat(8)2
Avg Revenue beat(8)-10.91%
Revenue beat(12)2
Avg Revenue beat(12)-14.27%
Revenue beat(16)4
Avg Revenue beat(16)-11.44%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0.52%
EPS NQ rev (3m)-0.06%
EPS NY rev (1m)0%
EPS NY rev (3m)1.29%
Revenue NQ rev (1m)0.45%
Revenue NQ rev (3m)2%
Revenue NY rev (1m)0.44%
Revenue NY rev (3m)0.69%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 5.3
P/FCF N/A
P/OCF N/A
P/B 0.55
P/tB 0.55
EV/EBITDA N/A
EPS(TTM)-1.5
EYN/A
EPS(NY)-0.56
Fwd EYN/A
FCF(TTM)-0.63
FCFYN/A
OCF(TTM)-0.5
OCFYN/A
SpS0.32
BVpS3.12
TBVpS3.11
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -41.71%
ROE -48.18%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-24.04%
ROA(5y)-17.06%
ROE(3y)-27.03%
ROE(5y)-19.08%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score1
Asset Turnover0.09
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 230.66%
Cap/Sales 39.61%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 9.25
Quick Ratio 8.5
Altman-Z -1.2
F-Score1
WACC7.43%
ROIC/WACCN/A
Cap/Depr(3y)264.88%
Cap/Depr(5y)223.12%
Cap/Sales(3y)40.71%
Cap/Sales(5y)29.72%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-83.05%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%11.76%
EPS Next Y62.54%
EPS Next 2Y28.91%
EPS Next 3Y20.19%
EPS Next 5Y14.87%
Revenue 1Y (TTM)-31.88%
Revenue growth 3Y-12.62%
Revenue growth 5Y-7.98%
Sales Q2Q%-46.86%
Revenue Next Year26.7%
Revenue Next 2Y26.26%
Revenue Next 3Y28.51%
Revenue Next 5Y34.73%
EBIT growth 1Y-3.66%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year38.08%
EBIT Next 3Y17.97%
EBIT Next 5Y11.33%
FCF growth 1Y7%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-3.37%
OCF growth 3YN/A
OCF growth 5YN/A