To the full analysis
Ballard Power Systems stock: growth
BLDPBallard Power Systems reported $101.14M in revenue for fiscal 2025, up 45% on the prior year, down 0.5% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
3.8%
per year from 2006 to 2025, per share −1.4%
Earnings (Annual rate)
no data
Free cash flow (Annual rate)
no data
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | −0.5% | 6.0% | 3.8% |
| Revenue per share | −4.4% | −1.8% | −1.4% |
| Earnings | no data | no data | no data |
| Earnings per share | no data | no data | no data |
| Free cash flow | no data | no data | no data |
| Free cash flow per share | no data | no data | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $49.82M | −$181.14M | −$51.41M |
| 2007 | $65.53M | −$57.3M | −$38.06M |
| 2008 | $59.58M | $34.08M | −$29.77M |
| 2009 | $46.72M | −$3.26M | −$33.74M |
| 2010 | $65.02M | −$34.94M | −$32.77M |
| 2011 | $76.01M | −$33.42M | −$37.33M |
| 2012 | $43.69M | −$42.14M | −$29.31M |
| 2013 | $61.25M | −$19.96M | −$17.9M |
| 2014 | $68.72M | −$27.87M | −$24.91M |
| 2015 | $56.46M | −$5.82M | −$29.25M |
| 2016 | $85.27M | −$21.69M | −$10.79M |
| 2017 | $121.29M | −$8.05M | −$16.21M |
| 2018 | $96.59M | −$27.32M | −$41.54M |
| 2019 | $105.72M | −$39.05M | −$28.16M |
| 2020 | $103.88M | −$51.38M | −$55.8M |
| 2021 | $104.51M | −$114.4M | −$95.18M |
| 2022 | $81.86M | −$173.49M | −$166.65M |
| 2023 | $102.37M | −$177.72M | −$145.94M |
| 2024 | $69.73M | −$324.25M | −$135.72M |
| 2025 | $101.14M | −$92.49M | −$67.17M |
Revenue by segment
How Ballard Power Systems Inc. makes its money and how that has shifted. Names are as the company reports them.
- Heavy Duty Motive48%
- Technology Solutions34%
- Material Handling8%
- Other11%
“Other” combines smaller and former segments with revenue the company does not assign to a segment. Names as reported, with abbreviations spelled out for the largest companies.
Figures as a table
| 2021 | 2022 | Share 2022 | |
|---|---|---|---|
| Heavy Duty Motive | $51.66M | $38.91M | 47.5% |
| Technology Solutions | $36.49M | $27.6M | 33.7% |
| Material Handling | $8.14M | $6.35M | 7.8% |
| Other | $8.21M | $8.99M | 11% |
| Total revenue | $104.51M | $81.86M | 100% |
Revenue by region
Where Ballard Power Systems Inc. generates its revenue.
- United States29%
- Germany17%
- China11%
- France8%
- Canada6%
- Australia5%
- Other24%
“Other” combines smaller regions with revenue the company does not assign to a region.
Figures as a table
| 2021 | 2022 | Share 2022 | |
|---|---|---|---|
| United States | $17.54M | $24.05M | 29.4% |
| Germany | $22.06M | $13.69M | 16.7% |
| China | $38.82M | $9.13M | 11.1% |
| France | $1.83M | $6.9M | 8.4% |
| Canada | $3.06M | $4.52M | 5.5% |
| Australia | no data | $3.71M | 4.5% |
| Other | $21.2M | $19.86M | 24.3% |
| Total revenue | $104.51M | $81.86M | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 30 Sep 2008)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.