Ballard Power Systems Inc. (TSX:BLDP)

Ballard Power Systems Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 18, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Cap	1,074	1,053	716	1,468	1,934	4,730
Market Cap Growth	120.11%	47.10%	-51.24%	-24.09%	-59.13%	-43.69%
Enterprise Value	376.2	540.22	130.6	727.92	1,030	3,617
Last Close Price	3.57	3.50	2.39	4.91	6.48	15.89
PE Ratio	-	-8.50	-1.55	-6.27	-8.85	-32.23
PS Ratio	7.88	10.59	10.26	14.34	23.62	45.27
PB Ratio	1.33	1.78	1.06	1.48	1.67	3.56
P/TBV Ratio	1.82	1.78	1.06	1.48	-	3.53
P/FCF Ratio	-	-15.95	-5.34	-10.07	-11.64	-50.52
P/OCF Ratio	-	-18.74	-6.62	-14.04	-14.63	-58.78
EV/Sales Ratio	2.76	5.44	1.87	7.11	12.58	34.62
EV/EBITDA Ratio	-	-5.44	-0.76	-4.87	-7.83	-46.17
EV/EBIT Ratio	-	-5.22	-0.71	-4.47	-7.09	-41.06
EV/FCF Ratio	-4.16	-8.18	-0.98	-4.99	-6.20	-38.63
Debt / Equity Ratio	0.03	0.03	0.03	0.01	0.01	0.01
Debt / EBITDA Ratio	-0.22	-0.22	-0.14	-0.12	-0.12	-0.22
Debt / FCF Ratio	-0.33	-0.33	-0.18	-0.12	-0.09	-0.18
Net Debt / Equity Ratio	-0.86	-0.86	-0.86	-0.74	-0.78	-0.84
Net Debt / EBITDA Ratio	5.13	5.13	3.40	4.92	6.84	14.16
Net Debt / FCF Ratio	7.71	7.71	4.35	5.04	5.42	11.85
Asset Turnover	0.14	0.14	0.08	0.09	0.06	0.09
Inventory Turnover	1.87	1.87	1.79	2.39	1.74	2.26
Quick Ratio	9.11	9.11	8.44	11.50	13.18	14.11
Current Ratio	9.86	9.86	9.25	12.25	14.06	14.78
Return on Equity (ROE)	-26.02%	-14.40%	-38.88%	-13.41%	-12.90%	-10.26%
Return on Assets (ROA)	-14.18%	-14.18%	-19.77%	-14.03%	-10.82%	-7.31%
Return on Invested Capital (ROIC)	-80.26%	-80.26%	-87.27%	-56.66%	-51.41%	-38.82%
Return on Capital Employed (ROCE)	-15.64%	-15.64%	-21.46%	-14.94%	-11.48%	-7.72%
Earnings Yield	-11.60%	-11.76%	-64.67%	-15.95%	-11.30%	-3.10%
FCF Yield	-8.43%	-6.27%	-18.72%	-9.93%	-8.59%	-1.98%
Buyback Yield / Dilution	-0.06%	-0.04%	-0.04%	-0.02%	-0.05%	-11.20%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.