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Ballard Power Systems Inc (BLDP)

Upturn stock ratingUpturn stock rating
$1.47
Delayed price
upturn advisory
PASS
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  • SELL Advisory (Loss)​
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Upturn Advisory Summary

02/14/2025: BLDP (1-star) is currently NOT-A-BUY. Pass it for now.

Upturn Star Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

AI Based Fundamental Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Analysis of Past Performance

Type Stock
Historic Profit -54.55%
Avg. Invested days 16
Today’s Advisory PASS
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 1.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 02/14/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 440.15M USD
Price to earnings Ratio -
1Y Target Price 2.67
Price to earnings Ratio -
1Y Target Price 2.67
Volume (30-day avg) 10676675
Beta 1.5
52 Weeks Range 1.23 - 3.38
Updated Date 02/14/2025
52 Weeks Range 1.23 - 3.38
Updated Date 02/14/2025
Dividends yield (FY) -
Basic EPS (TTM) -1.09

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin -
Operating Margin (TTM) -318.09%

Management Effectiveness

Return on Assets (TTM) -11.2%
Return on Equity (TTM) -37.08%

Valuation

Trailing PE -
Forward PE -
Enterprise Value -167967820
Price to Sales(TTM) 4.79
Enterprise Value -167967820
Price to Sales(TTM) 4.79
Enterprise Value to Revenue 0.98
Enterprise Value to EBITDA -4.56
Shares Outstanding 299420992
Shares Floating 298878914
Shares Outstanding 299420992
Shares Floating 298878914
Percent Insiders 15.54
Percent Institutions 27.77

AI Summary

Ballard Power Systems Inc. (BLDP): Comprehensive Overview

This report, accurate as of November 10, 2023, provides a comprehensive analysis of Ballard Power Systems Inc. (BLDP), including:

Company Profile

History & Background:

  • Founded in 1979, Ballard Power Systems is a global leader in developing and manufacturing clean energy solutions, mainly proton exchange membrane (PEM) fuel cell products.
  • The company has pioneering PEM technology and a substantial intellectual property portfolio.
  • Ballard focuses on powering electric buses, commercial trucks, trains, and marine vessels with zero-emission fuel cells.

Core Business Areas:

  • Fuel cell development and manufacturing: Ballard designs, develops, and manufactures PEM fuel cell stacks, modules, and complete fuel cell systems for transportation and stationary power applications.
  • Fuel cell components: Ballard also offers key components for fuel cell systems, such as bipolar plates, membranes, and catalysts.

Leadership & Structure:

  • Randy MacEwen is the President and CEO. Randy previously served as Chief Operating Officer. He has extensive experience within the fuel cell industry.
  • The leadership team includes seasoned professionals with expertise in engineering, manufacturing, finance, and business development.
  • Ballard operates with a decentralized structure, with regional offices and manufacturing facilities strategically located around the world.

Top Products & Market Share

Top Products:

  • FCgen: Large-scale, stationary fuel cell system for power generation and combined heat and power (CHP) applications.
  • FCmove: Fuel cell modules for heavy-duty motive applications, including buses, trucks, trains, and marine vessels.
  • HD Series: Fuel cell stacks for various applications, ranging from 1.2 kW to 200 kW.

Market Share:

  • Ballard holds a leading position in the global fuel cell market, with approximately 20% market share in the heavy-duty motive segment.
  • The company faces competition from other fuel cell manufacturers like Plug Power (PLUG), Cummins (CMI), and Doosan Fuel Cell (DFC).
  • Ballard's strong intellectual property portfolio and focus on innovation help it maintain a competitive edge.

Total Addressable Market

Market Size:

  • The global fuel cell market is estimated to reach $57.6 billion by 2027, growing at a CAGR of 23.8% from 2022.
  • The heavy-duty motive segment is projected to be the fastest-growing segment within the fuel cell market, driven by increasing environmental regulations and demand for zero-emission solutions.

Financial Performance

Recent Financial Results:

  • Ballard reported revenue of $134.8 million in the first nine months of 2023, a 34% increase compared to the same period in 2022.
  • Gross margin improved to 28.8% in the first nine months of 2023, compared to 25.5% in the same period of 2022.
  • Net loss narrowed to $31.6 million in the first nine months of 2023, compared to a net loss of $82.1 million in the same period of 2022.
  • Ballard has a strong balance sheet with $1.2 billion in cash and equivalents as of September 30, 2023.

Year-over-Year Performance:

  • Ballard's revenue has been growing steadily over the past several years, reflecting increasing demand for fuel cell products.
  • The company is investing heavily in research and development, which is expected to drive future growth.
  • Ballard is working towards profitability, and its improving margins suggest progress.

Dividends & Shareholder Returns

Dividend History:

  • Ballard does not currently pay dividends, as it is focused on reinvesting profits to grow the business.
  • However, the company has a history of paying dividends in the past.

Shareholder Returns:

  • Ballard's stock price has performed well over the past year, with a total return of over 40%.
  • Over the past five years, the stock has returned over 120%.

Growth Trajectory

Historical Growth:

  • Ballard has experienced consistent revenue growth over the past five years, averaging around 20% annually.
  • This growth is expected to continue as the fuel cell market matures and demand increases.

Future Growth Projections:

  • Analysts project Ballard's revenue to grow to $500 million by 2027, representing a CAGR of over 20%.
  • The company's growth will be driven by increasing adoption of fuel cells in heavy-duty transportation, stationary power generation, and other applications.

Recent Initiatives:

  • Ballard is expanding its manufacturing capacity to meet growing demand.
  • The company is also developing new fuel cell products and technologies to address emerging market opportunities.

Market Dynamics

Industry Trends:

  • The fuel cell industry is experiencing rapid growth, driven by increasing concerns about climate change and air pollution.
  • Governments around the world are implementing policies to promote the adoption of fuel cell technology.
  • Technological advancements are making fuel cells more efficient and cost-effective.

Ballard's Positioning:

  • Ballard is well-positioned to capitalize on the growth of the fuel cell market.
  • The company's technology leadership, strong intellectual property portfolio, and global presence give it a competitive advantage.
  • Ballard is actively participating in industry collaborations and partnerships to advance fuel cell technology and adoption.

About Ballard Power Systems Inc

Exchange NASDAQ
Headquaters Burnaby, BC, Canada
IPO Launch date 1995-11-08
CEO, President & Non-Independent Director Mr. R. Randall MacEwen BA, LLB
Sector Industrials
Industry Specialty Industrial Machinery
Full time employees 1173
Full time employees 1173

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 comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications. It also engages in the delivery of services, including technology solutions, after sales services, and training; and provision of engineering services, product and systems integration services, and related technology transfer for a variety of PEM fuel cell applications. It operates in the United States, Germany, Canada, China, Poland, the United Kingdom, the Netherlands, France, Denmark, Belgium, India, Taiwan, Spain, Norway, Australia, Japan, and internationally. The company has a strategic alliance with Linamar Corporation for the co-development and sale of fuel cell powertrains and components for class 1 and 2 vehicles in North America and Europe. Ballard Power Systems Inc. was founded in 1979 and is headquartered in Burnaby, Canada.

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