Ballard Power Systems Inc.
BLDPIndustrialsNASDAQElectrical Equipment & Parts · Last scanned Jul 18, 2026
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Daily timeframeBallard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. Valued at $814.0M, BLDP is a small-cap name in its sector. The company offers products for various applications focusing on power products for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.
Market Cap
$814.0M
Beta
1.93
P/E (TTM)
—
P/E (Fwd)
-17.27
EPS (TTM)
$-0.27
EPS (Fwd)
$-0.16
ROE
-13.2%
ROA
-5.7%
Cash
$520.9M
Total Debt
$20.9M
Free CF
-$29.8M
52W Change
42.9%
Annual Financials
Cash vs Debt
Ballard Power Systems Inc. holds $520.9M in cash against $20.9M in total debt, giving it a net cash position. This means the company could theoretically pay off all its debt and still have cash remaining. The company is burning cash, with free cash flow at -$29.8M. This typically occurs when a company is investing aggressively in growth, but sustained cash burn can strain the balance sheet. ROE of -13.2% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Revenue has grown from $81.9M (2022) to $99.4M (2025), reflecting a 21% increase over the period.
With a beta above 1.5, BLDP tends to amplify broader market moves — both up and down. This higher volatility means larger price swings are common. With cash comfortably exceeding debt, BLDP has financial flexibility that may help navigate uncertain periods. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. No single metric tells the full story. Reviewing BLDP's risk profile alongside its fundamentals and technical indicators provides a more complete picture.