BLDP

Ballard Power Systems Inc

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Advanced Chart

1.990

-0.01(-0.500%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

2.020

Open

2.010

VWAP

1.97

Vol

3.92M

Mkt Cap

598.15M

Low

1.910

Amount

7.72M

EV/EBITDA(TTM)

Total Shares

299.39M

71.91M

EV/OCF(TTM)

P/S(TTM)

8.26

Ballard Power Systems Inc. is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, as well as the delivery of services, including technology solutions, after sales services and training. The Company operates through fuel cell products and services segment. Embedded in each Ballard fuel cell product lies a stack of unit cells designed with its PEM fuel cell technology that includes membrane electrode assemblies, catalysts, plates, and other key components, and draw on intellectual property from its patent portfolio, together with its experience and know-how, in key areas of PEM fuel cell stack design, operation, production processes and systems integration.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2026Q1

FY2025Q4

FY2025Q3

20.38M

+32.41%

-0.080

-17.27%

31.12M

+26.93%

-0.097

-22.91%

24.14M

+63.59%

-0.103

-46.64%

Estimates Revision

The market is revising Upward the revenue expectations for Ballard Power Systems Inc. (BLDP) for FY2025, with the revenue forecasts being adjusted by 0.47% over the past three months. During the same period, the stock price has changed by 40.14%.

Revenue Estimates for FY2025

Revise Upward

+0.47%

In Past 3 Month

EPS Estimates for FY2025

Revise Downward

-1.74%

In Past 3 Month

Stock Price

Go Up

+40.14%

In Past 3 Month

9 Analyst Rating

-30.65% Downside

Wall Street analysts forecast BLDP stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BLDP is 1.38 USD with a low forecast of 1.00 USD and a high forecast of 2.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

0 Buy

6 Hold

3 Sell

Moderate Sell

-30.65% Downside

Current: 1.990

Low

1.00

Averages

1.38

High

2.00

-30.65% Downside

Current: 1.990

Low

1.00

Averages

1.38

High

2.00

Lake Street

Buy

Hold

downgrade

$5 -> $2

2025-08-11

Reason

Lake Street

Price Target

$5 -> $2

2025-08-11

downgrade

Buy

Hold

Reason

Lake Street downgraded Ballard Power to Hold from Buy with a price target of $2, down from $5.

Lake Street

Buy -> Hold

downgrade

$5 -> $2

2025-08-11

Reason

Lake Street

Price Target

$5 -> $2

2025-08-11

downgrade

Buy -> Hold

Reason

Lake Street downgraded Ballard Power to Hold from Buy with a price target of $2, down from $5. While "encouraged" by new management's goal of cash flow breakeven exiting 2027, the hydrogen fuel cell market is challenging with mixed order activity and headwinds in several markets, so the firm is lowering its rating pending clarity on the roadmap. With $522M in cash, Ballard can weather an extended downturn, though the firm expects continued uncertainty throughout 2025, the analyst added.

Roth Capital

Craig Irwin

Neutral

maintain

2025-08-11

Reason

Roth Capital

Craig Irwin

Price Target

2025-08-11

maintain

Neutral

Reason

Roth Capital analyst Craig Irwin raised the firm's price target on Ballard Power to $1.80 from $1.25 and keeps a Neutral rating on the shares following the Q2 report. The firm views the quarter as "transitional" and says Ballard is restructuring to profitability in a difficult demand environment. Under new leadership the company aims to be cash flow positive by the end of 2027, the analyst tells investors in a research note.

Susquehanna

Charles Minervino

Neutral

maintain

2025-07-21

Reason

Susquehanna

Charles Minervino

Price Target

2025-07-21

maintain

Neutral

Reason

Susquehanna analyst Charles Minervino raised the firm's price target on Ballard Power to $2 from $1.30 and keeps a Neutral rating on the shares. The firm updated alternative energy estimates and targets ahead of the Q2 reports. Susquehanna remains cautious on the group due to uncertainty around tariffs and the repeal of subsidy provisions of the Inflation Reduction Act. Given policy and market headwinds, the firm likes companies with a domestic manufacturing presence and "robust backlogs" like First Solar (FSLR) and GE Vernova (GEV).

UBS

Neutral

downgrade

2025-05-12

Reason

UBS

Price Target

2025-05-12

downgrade

Neutral

Reason

UBS lowered the firm's price target on Ballard Power to $1.40 from $2 and keeps a Neutral rating on the shares.

Citigroup

Vikram Bagri

Hold

Strong Sell

Downgrades

n/a

2025-04-17

Reason

Citigroup

Vikram Bagri

Price Target

n/a

2025-04-17

Downgrades

Hold

Strong Sell

Reason

Citi analyst Vikram Bagri downgraded Ballard Power to Sell from Neutral with a price target of $1, down from $1.50. The firm believes the macro headwinds faced by green hydrogen economy will prove to be difficult to overcome. Ballard's headwinds include uncertainty on tax credits, delays to existing funding, push outs of funding on projects, prevalence of lower cost technologies, weakness of certain customers, and competition from established players, the analyst tells investors in a research note. Citi says this all weighs on the outlook for truck adoption of hydrogen.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Ballard Power Systems Inc (BLDP.O) is -5.45, compared to its 5-year average forward P/E of -30.43. For a more detailed relative valuation and DCF analysis to assess Ballard Power Systems Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

N/A

5Y Average PE

-30.43

Current PE

-5.45

Overvalued PE

8.95

Undervalued PE

-69.82

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

-30.58

Current EV/EBITDA

-0.87

Overvalued EV/EBITDA

21.41

Undervalued EV/EBITDA

-82.57

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Fair

5Y Average PS

22.86

Current PS

6.05

Overvalued PS

44.01

Undervalued PS

1.71