BLDP Valuation

Ballard Power Systems Inc

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2.000

+0.17(9.290%)1D

Overview
Forecast
Valuation
Earnings

BLDP Relative Valuation

BLDP's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, BLDP is overvalued; if below, it's undervalued.

Historical Valuation

Ballard Power Systems Inc (BLDP) is now in the Fair zone, suggesting that its current forward PS ratio of 6.05 is considered Fairly compared with the five-year average of -30.49. The fair price of Ballard Power Systems Inc (BLDP) is between 1.13 to 12.30 according to relative valuation methord.

Relative Value

Fair Zone

1.13-12.30

Current Price：2.00

Fair

-5.45

Trailing

Forward

-0.87

EV/EBITDA

Ballard Power Systems Inc. (BLDP) has a current EV/EBITDA of -0.87. The 5-year average EV/EBITDA is -30.67. The thresholds are as follows: Strongly Undervalued below -134.77, Undervalued between -134.77 and -82.72, Fairly Valued between 21.39 and -82.72, Overvalued between 21.39 and 73.44, and Strongly Overvalued above 73.44. The current Forward EV/EBITDA of -0.87 falls within the Historic Trend Line -Fairly Valued range.

-0.77

EV/EBIT

Ballard Power Systems Inc. (BLDP) has a current EV/EBIT of -0.77. The 5-year average EV/EBIT is -27.79. The thresholds are as follows: Strongly Undervalued below -122.32, Undervalued between -122.32 and -75.06, Fairly Valued between 19.47 and -75.06, Overvalued between 19.47 and 66.74, and Strongly Overvalued above 66.74. The current Forward EV/EBIT of -0.77 falls within the Historic Trend Line -Fairly Valued range.

6.05

Ballard Power Systems Inc. (BLDP) has a current PS of 6.05. The 5-year average PS is 22.86. The thresholds are as follows: Strongly Undervalued below -19.42, Undervalued between -19.42 and 1.72, Fairly Valued between 44.00 and 1.72, Overvalued between 44.00 and 65.14, and Strongly Overvalued above 65.14. The current Forward PS of 6.05 falls within the Historic Trend Line -Fairly Valued range.

-5.63

P/OCF

Ballard Power Systems Inc. (BLDP) has a current P/OCF of -5.63. The 5-year average P/OCF is -48.64. The thresholds are as follows: Strongly Undervalued below -199.89, Undervalued between -199.89 and -124.26, Fairly Valued between 26.98 and -124.26, Overvalued between 26.98 and 102.60, and Strongly Overvalued above 102.60. The current Forward P/OCF of -5.63 falls within the Historic Trend Line -Fairly Valued range.

-5.93

P/FCF

Ballard Power Systems Inc. (BLDP) has a current P/FCF of -5.93. The 5-year average P/FCF is -32.81. The thresholds are as follows: Strongly Undervalued below -124.00, Undervalued between -124.00 and -78.40, Fairly Valued between 12.79 and -78.40, Overvalued between 12.79 and 58.39, and Strongly Overvalued above 58.39. The current Forward P/FCF of -5.93 falls within the Historic Trend Line -Fairly Valued range.

Ballard Power Systems Inc (BLDP) has a current Price-to-Book (P/B) ratio of 0.94. Compared to its 3-year average P/B ratio of 1.00 , the current P/B ratio is approximately -5.32% higher. Relative to its 5-year average P/B ratio of 2.66, the current P/B ratio is about -64.53% higher. Ballard Power Systems Inc (BLDP) has a Forward Free Cash Flow (FCF) yield of approximately -19.83%. Compared to its 3-year average FCF yield of -18.12%, the current FCF yield is approximately 9.44% lower. Relative to its 5-year average FCF yield of -11.73% , the current FCF yield is about 69.07% lower.

0.94

P/B

Median3y

1.00

Median5y

2.66

-19.83

FCF Yield

Median3y

-18.12

Median5y

-11.73

Competitors Valuation Multiple

The average P/S ratio for BLDP's competitors is 10.34, providing a benchmark for relative valuation. Ballard Power Systems Inc Corp (BLDP) exhibits a P/S ratio of 6.05, which is -41.48% above the industry average. Given its robust revenue growth of 6.48%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

BLDP.O

Ballard Power Systems Inc

Thermon Group Holdings Inc

Amprius Technologies Inc

Microvast Holdings Inc

Performance Decomposition

Market capitalization of BLDP increased by 8.70% over the past 1 year. The primary factor behind the change was an decrease in P/E Change from -1.31 to -2.02.

The secondary factor is the Revenue Growth, contributed 6.48%to the performance.

Overall, the performance of BLDP in the past 1 year is driven by P/E Change. Which is more unsustainable.

6.48%

14.45M → 15.39M

Revenue Growth

-51.89%

-284.15 → -136.70

Margin Expansion

54.11%

-1.31 → -2.02

P/E Change

8.70%