Ballard Power Systems Inc.'s (TSE:BLDP) Price Is Right But Growth Is Lacking After Shares Rocket 25%
Jul 02
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Canadian (TSX) Electrical Industry Analysis
UpdatedJul 03, 2025
DataAggregated Company Financials
Companies13
- 7D7.5%
- 3M48.3%
- 1Y4.8%
- YTD-4.3%
Ballard Power Systems is up 17%, leading the way for the Electrical industry, which has gained 7.5%. During this same period, the Exro Technologies underperformed, falling 7.1%. This takes the industry's 12 month performance to a gain of 4.8%. Looking forward, earnings are forecast to grow by 16% annually.
Industry Valuation and Performance
Has the Canadian Electrical Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 07 Jul 2025 | CA$2.8b | CA$1.2b | -CA$365,271,710.44 | 11.3x | -7.8x | 2.3x |
| Wed, 04 Jun 2025 | CA$2.4b | CA$1.2b | -CA$355,255,616.17 | 9.5x | -6.6x | 1.9x |
| Fri, 02 May 2025 | CA$2.3b | CA$1.2b | -CA$717,120,732.84 | 10.4x | -3.2x | 1.9x |
| Sun, 30 Mar 2025 | CA$2.1b | CA$1.2b | -CA$727,234,880.86 | 9.3x | -2.9x | 1.7x |
| Tue, 25 Feb 2025 | CA$2.4b | CA$1.2b | -CA$731,000,461.73 | 5.9x | -3.2x | 1.9x |
| Thu, 23 Jan 2025 | CA$2.8b | CA$1.2b | -CA$729,228,154.54 | 5.9x | -3.9x | 2.3x |
| Sat, 21 Dec 2024 | CA$2.7b | CA$1.2b | -CA$719,911,714.49 | 6.4x | -3.8x | 2.2x |
| Mon, 18 Nov 2024 | CA$2.7b | CA$1.2b | -CA$724,584,083.44 | 22.2x | -3.7x | 2.2x |
| Wed, 16 Oct 2024 | CA$3.1b | CA$1.2b | -CA$276,341,697.43 | 26.1x | -11.1x | 2.5x |
| Fri, 13 Sep 2024 | CA$2.8b | CA$1.2b | -CA$273,665,384.12 | 22.4x | -10.2x | 2.3x |
| Sun, 11 Aug 2024 | CA$2.9b | CA$1.2b | -CA$292,550,748.04 | 20.6x | -10x | 2.4x |
| Tue, 09 Jul 2024 | CA$3.0b | CA$1.2b | -CA$286,696,489.18 | 21.9x | -10.3x | 2.5x |
| Thu, 06 Jun 2024 | CA$3.3b | CA$1.2b | -CA$288,718,371.14 | 24x | -11.3x | 2.7x |
| Sat, 04 May 2024 | CA$3.2b | CA$1.2b | -CA$263,835,426.30 | 22.6x | -12x | 2.7x |
| Mon, 01 Apr 2024 | CA$3.6b | CA$1.2b | -CA$250,580,519.16 | 27.2x | -14.3x | 3.1x |
| Wed, 28 Feb 2024 | CA$3.3b | CA$1.1b | -CA$279,068,159.97 | 22.1x | -11.8x | 3x |
| Fri, 26 Jan 2024 | CA$3.2b | CA$1.1b | -CA$284,640,865.00 | 17.9x | -11.3x | 2.9x |
| Sun, 24 Dec 2023 | CA$3.1b | CA$1.1b | -CA$291,482,988.00 | 14.9x | -10.8x | 2.8x |
| Tue, 21 Nov 2023 | CA$3.2b | CA$1.1b | -CA$306,850,829.00 | 15.2x | -10.6x | 2.9x |
| Thu, 19 Oct 2023 | CA$3.1b | CA$1.1b | -CA$286,732,319.00 | 11.9x | -10.7x | 2.9x |
| Sat, 16 Sep 2023 | CA$3.2b | CA$1.1b | -CA$279,650,033.00 | 10.3x | -11.6x | 3x |
| Mon, 14 Aug 2023 | CA$3.5b | CA$1.1b | -CA$270,788,985.00 | 11.7x | -12.9x | 3.3x |
| Wed, 12 Jul 2023 | CA$3.3b | CA$1.0b | -CA$297,649,103.00 | 11.7x | -11.2x | 3.2x |
| Fri, 09 Jun 2023 | CA$3.3b | CA$1.0b | -CA$300,058,242.00 | 10.3x | -11.1x | 3.2x |
| Sun, 07 May 2023 | CA$3.4b | CA$1.1b | -CA$319,840,280.00 | 10.3x | -10.5x | 3.2x |
| Tue, 04 Apr 2023 | CA$3.7b | CA$989.3m | -CA$342,906,936.00 | 9.8x | -10.7x | 3.7x |
| Thu, 02 Mar 2023 | CA$3.6b | CA$981.5m | -CA$365,983,929.00 | 7.9x | -9.8x | 3.7x |
| Sat, 28 Jan 2023 | CA$3.7b | CA$938.7m | -CA$340,800,196.00 | 7.3x | -10.7x | 3.9x |
| Mon, 26 Dec 2022 | CA$2.8b | CA$941.5m | -CA$345,917,850.00 | 6.9x | -8.2x | 3x |
| Wed, 23 Nov 2022 | CA$3.2b | CA$939.5m | -CA$333,249,623.00 | 7.8x | -9.7x | 3.4x |
| Fri, 21 Oct 2022 | CA$3.0b | CA$882.1m | -CA$326,650,431.00 | 7.2x | -9.3x | 3.5x |
| Sun, 18 Sep 2022 | CA$3.7b | CA$877.1m | -CA$311,702,304.00 | 7.2x | -11.8x | 4.2x |
| Tue, 16 Aug 2022 | CA$4.3b | CA$872.3m | -CA$307,142,497.00 | 6.7x | -13.9x | 4.9x |
| Thu, 14 Jul 2022 | CA$3.3b | CA$815.5m | -CA$255,384,259.00 | 6.3x | -13x | 4.1x |
Price to Earnings Ratio
-13x
Current Industry PE
- Investors are pessimistic on the Canadian Electrical industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The 3-year average PS ratio of 2.9x is higher than the industry's current PS ratio of 2.3x.
Past Earnings Growth
- The earnings for companies in the Electrical industry have deteriorated over the last three years.
- Meanwhile revenues for these companies have grown 14% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has caused losses to expand.
Industry Trends
Which industries have driven the changes within the Canadian Industrials industry?
| CA Market | 1.38% | |
| Industrials | 1.55% | |
| Electrical | 7.52% | |
| Electrical Components | 7.52% | |
| Heavy Electrical Equipment | 0% | 0 |
Industry PE
Forecasted Growth
- Analysts are most optimistic on the Electrical Components industry, expecting annual earnings growth of 16% over the next 5 years.
- However this is lower than its past earnings growth rate of 30% per year.
- In contrast, the Electrical Components industry is expected to see its earnings grow by 16% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| BLDP Ballard Power Systems | CA$2.36 | 17.4% +CA$104.9m | -25.6% | PS7.4x | |
| HPS.A Hammond Power Solutions | CA$127.50 | 6.3% +CA$89.3m | 25.7% | PE16.9x | |
| NHHH FuelPositive | CA$0.065 | 44.4% +CA$11.0m | 30.0% | PB2.3x | |
| HMM.A Hammond Manufacturing | CA$10.36 | 4.6% +CA$5.2m | 2.3% | PE6.3x | |
| SPRQ SPARQ Systems | CA$0.81 | 2.5% +CA$2.3m | 62.0% | PS57.3x |
