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BLDP

Ballard Power Systems TSX:BLDP Stock Report

Last Price

CA$8.31

Market Cap

CA$2.6b

7D

-0.6%

1Y

-63.3%

Updated

28 Jun, 2022

Data

Company Financials +
BLDP fundamental analysis
Snowflake Score
Valuation0/6
Future Growth2/6
Past Performance0/6
Financial Health6/6
Dividends0/6

BLDP Stock Overview

Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products.

Ballard Power Systems Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ballard Power Systems
Historical stock prices
Current Share PriceCA$8.31
52 Week HighCA$24.48
52 Week LowCA$7.46
Beta1.77
1 Month Change-16.57%
3 Month Change-43.85%
1 Year Change-63.33%
3 Year Change55.91%
5 Year Change122.19%
Change since IPO398.60%

Recent News & Updates

May 22
Companies Like Ballard Power Systems (TSE:BLDP) Are In A Position To Invest In Growth

Companies Like Ballard Power Systems (TSE:BLDP) Are In A Position To Invest In Growth

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining...

Shareholder Returns

BLDPCA ElectricalCA Market
7D-0.6%-1.5%-0.4%
1Y-63.3%-61.4%-2.9%

Return vs Industry: BLDP underperformed the Canadian Electrical industry which returned -60.2% over the past year.

Return vs Market: BLDP underperformed the Canadian Market which returned -2.6% over the past year.

Price Volatility

Is BLDP's price volatile compared to industry and market?
BLDP volatility
BLDP Average Weekly Movement11.0%
Electrical Industry Average Movement10.1%
Market Average Movement10.1%
10% most volatile stocks in CA Market17.3%
10% least volatile stocks in CA Market4.4%

Stable Share Price: BLDP is not significantly more volatile than the rest of Canadian stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: BLDP's weekly volatility (11%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1979785Randy MacEwenhttps://www.ballard.com

Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power. It also provides technology solutions, including engineering and technology transfer, as well as licenses and sells intellectual property portfolio and fundamental knowledge for various PEM fuel cell applications; and hydrogen fuel cell powertrain and vehicle systems integration solutions.

Ballard Power Systems Fundamentals Summary

How do Ballard Power Systems's earnings and revenue compare to its market cap?
BLDP fundamental statistics
Market CapUS$2.01b
Earnings (TTM)-US$136.99m
Revenue (TTM)US$107.93m

17.8x

P/S Ratio

-14.0x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BLDP income statement (TTM)
RevenueUS$107.93m
Cost of RevenueUS$96.75m
Gross ProfitUS$11.18m
Other ExpensesUS$148.17m
Earnings-US$136.99m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.46
Gross Margin10.36%
Net Profit Margin-126.92%
Debt/Equity Ratio0%

How did BLDP perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is BLDP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BLDP?

Other financial metrics that can be useful for relative valuation.

BLDP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue9.2x
Enterprise Value/EBITDA-10.6x
PEG Ration/a

Price to Sales Ratio vs Peers

How does BLDP's PS Ratio compare to its peers?

BLDP PS Ratio vs Peers
The above table shows the PS ratio for BLDP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average14x
HPS.A Hammond Power Solutions
0.4x6.1%CA$175.7m
EGT Eguana Technologies
15.3x58.6%CA$92.9m
LPEN Loop Energy
33.7x54.3%CA$53.9m
EFL Electrovaya
6.7x44.7%CA$100.0m
BLDP Ballard Power Systems
17.8x34.5%CA$2.6b

Price-To-Sales vs Peers: BLDP is expensive based on its Price-To-Sales Ratio (17.8x) compared to the peer average (14x).


Price to Earnings Ratio vs Industry

How does BLDP's PE Ratio compare vs other companies in the North American Electrical Industry?

Price-To-Sales vs Industry: BLDP is expensive based on its Price-To-Sales Ratio (17.8x) compared to the Canadian Electrical industry average (17x)


Price to Sales Ratio vs Fair Ratio

What is BLDP's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BLDP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio17.8x
Fair PS Ratio3.7x

Price-To-Sales vs Fair Ratio: BLDP is expensive based on its Price-To-Sales Ratio (17.8x) compared to the estimated Fair Price-To-Sales Ratio (3.7x).


Share Price vs Fair Value

What is the Fair Price of BLDP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate BLDP's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate BLDP's fair value for valuation analysis.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BLDP's PEG Ratio to determine if it is good value.


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Future Growth

How is Ballard Power Systems forecast to perform in the next 1 to 3 years based on estimates from 23 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


19.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BLDP is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: BLDP is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: BLDP is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: BLDP's revenue (34.5% per year) is forecast to grow faster than the Canadian market (7% per year).

High Growth Revenue: BLDP's revenue (34.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BLDP is forecast to be unprofitable in 3 years.


Discover growth companies

Past Performance

How has Ballard Power Systems performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-47.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BLDP is currently unprofitable.

Growing Profit Margin: BLDP is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BLDP is unprofitable, and losses have increased over the past 5 years at a rate of 47.1% per year.

Accelerating Growth: Unable to compare BLDP's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BLDP is unprofitable, making it difficult to compare its past year earnings growth to the Electrical industry (28.6%).


Return on Equity

High ROE: BLDP has a negative Return on Equity (-10.65%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Ballard Power Systems's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: BLDP's short term assets ($1.2B) exceed its short term liabilities ($77.0M).

Long Term Liabilities: BLDP's short term assets ($1.2B) exceed its long term liabilities ($27.5M).


Debt to Equity History and Analysis

Debt Level: BLDP is debt free.

Reducing Debt: BLDP had no debt 5 years ago.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: BLDP has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: BLDP has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of 33.9% each year


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Dividend

What is Ballard Power Systems's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate BLDP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BLDP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BLDP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BLDP's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as BLDP has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

Randy MacEwen (52 yo)

7.67yrs

Tenure

US$2,032,165

Compensation

Mr. R. Randall MacEwen, also known as Randy, serves as Director at Brookfield Renewable Corporation since November 5, 2021 and serves as its Independent Director since 2022. He has been the Chief Executive...


CEO Compensation Analysis

Compensation vs Market: Randy's total compensation ($USD2.03M) is about average for companies of similar size in the Canadian market ($USD2.38M).

Compensation vs Earnings: Randy's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: BLDP's management team is considered experienced (2.4 years average tenure).


Board Members

Experienced Board: BLDP's board of directors are considered experienced (5.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ballard Power Systems Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Ballard Power Systems Inc.
  • Ticker: BLDP
  • Exchange: TSX
  • Founded: 1979
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Implied Market Cap: CA$2.588b
  • Shares outstanding: 298.16m
  • Website: https://www.ballard.com

Number of Employees


Location

  • Ballard Power Systems Inc.
  • 9000 Glenlyon Parkway
  • Burnaby
  • British Columbia
  • V5J 5J8
  • Canada

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/28 00:00
End of Day Share Price2022/06/28 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.