What is Ballard Power Systems Inc.'s (BLDP) StockRank?

MoatMap's StockRank for Ballard Power Systems Inc. (BLDP) is 32/100, with a Sell signal. This is a composite score combining Quality (28), Value (40), and Momentum (55) factor ranks across MoatMap's 19,000+ stock universe.

Does Ballard Power Systems Inc. have an economic moat?

Ballard Power Systems Inc. (BLDP) has a Quality factor score of 28/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage — the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the financial characteristics of a moated business.

Is Ballard Power Systems Inc. a buy, hold, or sell?

MoatMap's current signal for Ballard Power Systems Inc. (BLDP) is Sell, based on a StockRank of 32/100. Signals are derived mechanically from the StockRank composite and should be one input among many — combine with your own thesis on management, competitive position, and valuation.

What sector is Ballard Power Systems Inc. in?

Ballard Power Systems Inc. (BLDP) operates in the Industrials sector, specifically the Electrical Equipment & Parts industry (Canada).

Company Deep Dive

Business segments breakdown, earnings transcript analysis, management credibility scoring, competitive landscape, and scenario modelling.

Request Deep Dive(50 Feathers)

BLDP

SELLREMOVE

Ballard Power Systems Inc. · Industrials · Canada · $1.9B · Avg Vol: $51M/d

StockRank

P/E (TTM)

—

ROE

-13.2%

D/E

0.0x

Dividend %

—

Director Trades · 180d

None in 180d →

Buybacks · 180d

None in 180d →

AI CONVICTION THESIS

Ballard Power Systems is a structurally unprofitable hydrogen fuel cell manufacturer. It suffers from high cash burn, a lack of commercial scale, and reliance on government subsidies. This fails the Terry Smith and Warren Buffett lenses, which demand positive owner earnings and proven business models rather than speculative macro hopes.

COMPANY DESCRIPTION

Ballard Power Systems Inc. designs and manufactures proton exchange membrane (PEM) fuel cell products, primarily for motive power in heavy-duty vehicles like buses, trucks, and trains, as well as stationary power generation. The company is a global pioneer and leader in commercializing PEM fuel cell technology, leveraging its extensive patent portfolio and engineering expertise to address decarbonization in various industrial sectors.

FINANCIAL SUMMARY

Year	2022	2023	2024	2025	CAGR
Revenue	82M	102M	70M	99M	6.7%
EPS	-0.58	-0.59	-1.08	-0.30	—
Shares	298M	299M	299M	301M	+0.8%
Debt	16M	18M	24M	22M	12.1%
Equity	1.2B	991M	673M	590M	-20.2%
Op CF	-132M	-105M	-108M	-56M	—
Inv CF	-76M	-54M	-37M	-21M	—
Fin CF	-2M	-4M	-2M	-3M	—

PRICE (1M)+26.4%

SMA 50SMA 200

$4.16

RSI (14)

22.0

52W High

$6.57

From 52W High

0.6%

SCORE BREAKDOWN

Quality

ROIC

-14.3%4.9

ROE

-13.2%7.4

GP/Assets

1.7%4.1

Op. Margin

-67.3%2.7

FCF/Assets

-4.4%17.2

Piotroski

—13.7

Int. Cover

-46.7x2.2

D/E Ratio

0.04x87.6

Current Ratio

10.70x98.7

Value

P/E (TTM)

—N/A

EV/EBITDA

-12.0x93.0

P/FCF

—N/A

P/B

2.2x45.2

P/S

12.3x6.0

Div Yield

—N/A

Momentum

52W High %

63%22.0

RS 6M

36%86.7

SMA 50/200

1.36x93.0

EPS Rev 4W

—N/A

EPS Rev 12W

—N/A

EPS Improve

+42%46.6

Q Growth

—N/A

FUNDAMENTALS

Market Cap

$1.9B

P/E (Forward)

-27.1x

Gross Margin

11.4%

SECTOR PEERS

Closest peers in Industrials, ranked by industry match, size, and score similarity. Cross-listings of BLDP are excluded.

Ticker	Company	Mkt Cap	StockRank	Signal
BLDP	Ballard Power Systems Inc.(you)	$1.9B	32	SELL
HPS-A.TO	Hammond Power Solutions Inc.	$2.9B	69	BUY
ELVA	Electrovaya Inc.	$580M	56	HOLD
SPRQ.V	SPARQ Systems Inc.	$106M	29	SELL
QESS.CN	Aegis Critical Energy Defence Corp.	$41M	15	STRONG SELL
HMM-A.TO	Hammond Manufacturing Company Limited	$149M	98	STRONG BUY
CJT.TO	Cargojet Inc.	$936M	26	SELL
ATS	ATS Corporation	$3.0B	46	HOLD
WTE.TO	Westshore Terminals Investment Corporation	$1.9B	56	HOLD
BDGI.TO	Badger Infrastructure Solutions Ltd.	$2.2B	58	HOLD

Peer medians: ROE 11.3% · P/E 26.4x · Gross margin 29.3%

Ballard Power Systems Inc. (BLDP) — Stock Score Summary

Ballard Power Systems Inc. (BLDP) has a MoatMap StockRank of 32/100 based on Quality (28/100), Value (40/100), and Momentum (55/100) factor scores. The current signal is SELL. Ballard Power Systems is a structurally unprofitable hydrogen fuel cell manufacturer. It suffers from high cash burn, a lack of commercial scale, and reliance on government subsidies. This fails the Terry Smith and Warren Buffett lenses, which demand positive owner earnings and proven business models rather than speculative macro hopes.

Key Financial Metrics

Price	$4.16
Market Cap	$1.9B
P/E (Forward)	-27.15
Price/Book	2.20
Return on Equity	-13.2%
Return on Invested Capital	-14.3%
Debt/Equity	3.62
Gross Margin	11.4%
Operating Margin	-67.3%
Revenue Growth	26.2%
Free Cash Flow	$-30M

Ballard Power Systems Inc. operates in the Electrical Equipment & Parts industry, part of the Industrials sector (Canada).

Frequently Asked Questions

What is Ballard Power Systems Inc.’s (BLDP) StockRank?: MoatMap’s StockRank for Ballard Power Systems Inc. (BLDP) is 32/100, with a Sell signal. It is a composite of Quality (28), Value (40), and Momentum (55) factor ranks across MoatMap’s 19,000+ stock universe.
Does Ballard Power Systems Inc. have an economic moat?: Ballard Power Systems Inc. (BLDP) has a Quality factor score of 28/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage — the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the characteristics of a moated business.
Is Ballard Power Systems Inc. a buy, hold, or sell?: MoatMap’s current signal for Ballard Power Systems Inc. (BLDP) is Sell, based on a StockRank of 32/100. Signals are derived mechanically from the StockRank composite and should be one input among many — combine with your own thesis on management, competitive position, and valuation.
What sector is Ballard Power Systems Inc. in?: Ballard Power Systems Inc. (BLDP) operates in the Industrials sector, specifically the Electrical Equipment & Parts industry (Canada).