Ballard Power Systems Inc.
BLDPIndustrialsNASDAQElectrical Equipment & Parts · Last scanned May 28, 2026
Scan Results
Daily timeframe1 of 4 indicators bearish as of May 27
Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. With a market capitalization of $1.84B, it sits in small-cap territory. 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
$1.84B
Beta
1.68
P/E (TTM)
—
P/E (Fwd)
-39.17
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
325.9%
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. Free cash flow is running at -$29.8M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. 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.
A beta of 1.68 means BLDP is more volatile than average. Investors should be prepared for wider price swings relative to broader indices. The strong cash position relative to debt provides a financial cushion that reduces balance sheet risk. 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.