Reading the tape
NASDAQ: BLDP
Ballard Power Systems Inc.
Industrials · Industrial - Machinery
Market Cap
$999.03M
52w High
$4.10
52w Low
$1.18
P/E
-10.62
Volume
7.17M
Outstanding Shares
300.91M
Price vs Fundamentals
Why The Stock Is Moving
Fundamentals are supporting the moveModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 169.92%Revenue (TTM): 43.25%FCF (TTM): 51.25%P/S: 51st pct
What changed
The stock rose 169.92% over the last year. Revenue grew 43.25% over the trailing twelve months. Operating margin moved from -262.87% to -104.8%. Free cash flow grew 51.25% over the trailing twelve months.
What the market seems to be pricing
The stock move broadly lines up with stronger business momentum, and the shares are still only around the 51st percentile of their historical P/S range.
What would invalidate this read
Operating margin is at -104.8%. Revenue grew 43.25% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.
Company profile
Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products.
CEOMarty T. Neese
SectorIndustrials
IndustryIndustrial - Machinery
Employees887
IPO dateNov 8, 1995
Valuation
Forward P/E—
EV/EBITDA-3.43
Enterprise value$265.6M
Stock splits
Jun 3, 1998↑ Forward
Every 1 shares became 3
Profitability & growth
Revenue growth39.29%
Gross margin4.47%▲107.53%vs FY2024
Operating margin-104.8%▲69.34%vs FY2024
ROE-15.71%▲67.40%vs FY2024
Analyst consensus
RatingHold
Target price$2.72▼18.07%
3
Buy
17
Hold
5
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 5, 2026
Q2 FY26 · EPS est -$0.07 · Revenue est $19.88M
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