BLDPNasdaqElectrical Industrial ApparatusFiscal year ends December 31

Ballard Power Systems Inc.

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Mar 12, 2026

$1.52−0.05 (-3.18%)

Close on Oct 19, 2026

Market cap: –
P/E (TTM): –
Dividend yield: –

Ballard Power Systems Inc. income statement

AnnualQuarterlyTTM

Millions of USD, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31
Revenue	99	70	102	82	105	104	106	97	121	85
Cost of Revenue	94	92	124	95	90	83	83	67	80	61
Gross Profit	5.46	-22	-22	-13	14	21	22	30	42	24
Research & Development	59	94	98	90	62	36	25	27	25	20
Selling, General & Admin	26	37	39	39	38	25	21	23	21	20
Selling & Marketing	8.05	14	15	13	13	8.62	7.77	8.07	7.95	7.19
General & Administrative	18	24	24	26	25	16	13	15	13	13
Operating Income	-103	-183	-163	-145	-88	-40	-25	-21	-4.88	-18
Interest Expense	1.91	2.15	1.11	1.27	1.29	1.30	1.43	0.50	0.73	0.69
Interest & Investment Income	–	–	–	–	–	4.28	2.66	-0.45	1.78	-0.78
Income from Equity Investments	-4.73	-4.94	-10	-12	-16	-13	-11	-1.15	0.20	0
Asset Impairment Charges	4.63	0	–	–	–	–	–	–	1.48	1.15
Pretax Income	-91	-323	-144	-160	-115	-49	-35	-27	-6.48	-21
Income Tax Expense	0.05	0.12	0.16	0.04	-0.22	0.13	0.02	0.37	1.57	0.38
Income from Continuing Operations	-91	-324	-144	-160	-114	-49	-35	–	–	–
Income from Discontinued Operations	0	-0.72	-34	-13	0.16	-1.91	-3.76	–	–	–
Net Income incl. Noncontrolling Interests	-91	-324	-178	-173	-114	-51	-39	-27	-8.05	-22
Minority Interest in Earnings	–	–	–	–	–	–	–	–	0	-0.58
Net Income	–	–	–	–	–	–	–	–	-8.05	-21
EPS (Basic)(per share)	-0.30	-1.08	-0.59	-0.58	-0.39	-0.21	-0.17	-0.15	-0.05	-0.13
EPS (Diluted)(per share)	-0.30	-1.08	-0.59	-0.58	-0.39	-0.21	-0.17	-0.15	-0.05	-0.13
Shares Outstanding (Basic, Weighted)(shares)	300	299	299	298	295	248	233	186	176	163
Shares Outstanding (Diluted, Weighted)(shares)	300	299	299	298	295	248	233	186	176	163
EBITDA	-99	-171	-149	-132	-78	-32	-18	-16	0.19	-14

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Dec 31, 2025

Profitability, FY2025

Gross margin: 5.5%
Operating margin: -104.1%
Net margin: –
Return on equity, FY2025: –

Financial strength

Current ratio: 9.86
Debt to equity: –
Debt to assets: –
Cash to current liabilities: 864.1%

Valuation

P/E ratio: –
Price to sales: –
Price to book: –
Dividend yield: –