profit from every $100 of sales.
$0$100
Ballard Power Systems
$1.40-7.28% today
-59.2% in 1 year
1-year low $1.401-year high $6.38
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
It has no yearly profit to compare the price with.
CheapExpensive
It holds more cash than debt.
No debt5 years
Money in, money out
What Ballard Power Systems sold, what it kept, and what it did with the cash.
Sales went from $81.9 million in 2022 to $99.4 million in 2025, with -$90.9 million of profit last year.
SalesProfit
Ballard Power Systems vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| Ballard Power Systems | No profit yet | ||
 Everpure | 195.0× · Very expensive | ||
 Ingersoll Rand | 56.3× · Expensive | ||
 Otis Worldwide | 21.2× · Fair price | ||
 Dover | 25.5× · Fair price |
AI analysis
An AI analyst reads Ballard Power Systems's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 82 | 102 | 70 | 99 | |
| -13 | -22 | -22 | 5 | |
| -142 | -159 | -153 | -80 | |
| -145 | -129 | -309 | -85 | |
| -173 | -178 | -324 | -91 | |
| -0.58 | -0.59 | -1.08 | -0.30 | |
| -16.3% | -21.3% | -31.5% | 5.5% | |
| -173.5% | -155.5% | -220.1% | -80.3% | |
| -211.9% | -173.6% | -465.0% | -91.5% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 1,247 | 1,078 | 777 | 682 |
| Cash | 914 | 751 | 604 | 527 |
| Total debt | 16 | 18 | 24 | 22 |
| Total liabilities | 88 | 86 | 104 | 92 |
| 1,159 | 991 | 673 | 590 | |
| 299 | 299 | 299 | 303 | |
| -10.7% | -11.2% | -36.4% | -11.5% | |
| -15.0% | -17.9% | -48.2% | -15.4% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| -132 | -105 | -108 | -56 | |
| 34 | 41 | 28 | 10 | |
| -167 | -146 | -136 | -66 | |
| Dividends paid | – | – | – | – |
| – | – | – | – | |
| 9 | 11 | 7 | 6 |
Valuation
- –
- –
- –
- 2.2×
- 4.9×
- –
- –
- -13.5%
- -18.5%
- 0.0%
Profitability
- 5.5%
- -80.3%
- -91.5%
- -72.8%
- -14.4%
- -20.5%
- -13.5%
- -12.3%
- -14.5%
- 48.4%
Growth
- +6.7%
- –
- +50.5%
- –
- +0.6%
Financial health
- -6.0×
- 0.04
- 3.2%
- -47.8×
- 10.70
- 9.90
- 0.16
How it ranks in Industrials
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 2%of 980
Bottom 1%of 986
Bottom 48%of 986
Bottom 3%of 988
What analysts expect
- Average price target
- $2.72
- Range
- $2.00 – $3.15
- 2 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 5, 2026 | -0.04 | -0.06 | +33.3% |
| Mar 12, 2026 | -0.06 | -0.07 | +14.3% |
| Nov 13, 2025 | -0.09 | -0.11 | +18.2% |
| Aug 11, 2025 | -0.08 | -0.10 | +20.0% |
| May 6, 2025 | -0.07 | -0.12 | +41.7% |
| Mar 13, 2025 | -0.14 | -0.18 | +22.2% |
| Nov 5, 2024 | -0.19 | -0.13 | −46.2% |
| Aug 12, 2024 | -0.11 | -0.13 | +15.4% |
News
Ballard Power launches Fleet360 lifecycle program for North American fuel cell transit fleetsSeeking Alpha · Oct 2, 2026Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
27No pass
Benjamin Graham
51No pass
Philip Fisher
28No pass
Peter Lynch
40No pass
Joel Greenblatt
0No pass
Charlie Munger
31No pass
Terry Smith
27No pass
Questions about Ballard Power Systems
Is Ballard Power Systems a good stock to buy?
A business with weak numbers that is not profitable yet. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Ballard Power Systems AI analysis
What does Ballard Power Systems do?
Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. It is in Industrial - Machinery.
Does Ballard Power Systems pay a dividend?
No. Ballard Power Systems does not pay a dividend at the moment.
Is Ballard Power Systems stock halal?
No. Ballard Power Systems does not pass our halal screen: its cash and confirmed interest-bearing investments are 107% of its market value, at or above the 33% limit. How we check
How has Ballard Power Systems stock done over the past year?
Down 59.2% over the past twelve months, to $1.40. It traded between $1.40 and $6.38 and is 78.1% below its high.
Who are Ballard Power Systems's competitors?
The largest listed companies in the same industry are Everpure, Ingersoll Rand, Otis Worldwide and Dover. The peers table on this page compares their profit, growth and price with Ballard Power Systems's.
Prices: daily closes to Nov 12, 2026. Fundamentals: company reports via invest-like data.