Ballard Power Systems (BLDP) EBITDA Margin (2009 - 2025)
Ballard Power Systems (BLDP) reported EBITDA Margin of 34.48% for Q4 2025, down 178308.0% year-over-year from N/an in Q4 2024, and up 141.13% quarter-over-quarter from 83.85% in Q3 2025.
Ballard Power Systems (BLDP) EBITDA Margin (2009 - 2025) Analysis & Trends
Ballard Power Systems (BLDP) has 17 years of EBITDA Margin data on file, last reported at 34.48% in Q4 2025.
- EBITDA Margin for Q4 2025 came in at 34.48%, down 178308.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 59.11% (down 30018.0% YoY), and the FY2025 annual result was 101.57%, down 13950.0% from the prior year.
- EBITDA Margin rose to 34.48% in Q4 2025 per BLDP's latest filing, from 83.85% in the prior quarter.
- Over five years, EBITDA Margin peaked at 18465.22% in Q4 2021 and troughed at 1379.99% in Q3 2024.
- A 5-year average of 913.94% and a median of 93.86% in 2021 frame the typical range for EBITDA Margin.
- The sharpest annual moves came in 2021 and 2022: EBITDA Margin jumped 1860144 bps in 2021, then tumbled 1821502 bps in 2022.
- A 5-year view of EBITDA Margin shows it stood at 18465.22% in 2021, then slumped by 99 bps to 250.19% in 2022, then jumped by 44 bps to 359.64% in 2023, then jumped by 405 bps to 1817.56% in 2024, then sank by 98 bps to 34.48% in 2025.
- Business Quant data shows BLDP's EBITDA Margin at 34.48% in Q4 2025, 83.85% in Q3 2025, and 126.56% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Novonix | 395.03 Bn | 394.98 Bn | - | - |
| 2 | Vertiv Holdings | 110.52 Bn | 108.02 Bn | 999.70 Mn | 16.61% |
| 3 | Bloom Energy | 73.12 Bn | 70.66 Bn | 225.54 Mn | 9.61% |
| 4 | nVent Electric | 26.38 Bn | 26.19 Bn | 445.60 Mn | 11.72% |
| 5 | Hubbell | 25.79 Bn | 25.28 Bn | 505.30 Mn | 17.39% |
| 6 | Advanced Energy Industries | 11.69 Bn | 11.69 Bn | 200.90 Mn | 13.37% |
| 7 | Ballard Power Systems | 11.51 Bn | 10.98 Bn | 5.64 Mn | 34.48% |
| 8 | Powell Industries | 10.32 Bn | 9.77 Bn | 87.94 Mn | 19.41% |
| 9 | Acuity Inc. (De) | 9.21 Bn | 8.94 Bn | 520.40 Mn | 11.13% |
| 10 | EnerSys | 8.48 Bn | 8.04 Bn | 290.87 Mn | 12.52% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 34.48% |
| Sep 30, 2025 | -83.85% |
| Jun 30, 2025 | -126.56% |
| Mar 31, 2025 | -133.26% |
| Dec 31, 2024 | 1,817.56% |
| Sep 30, 2024 | -1,379.99% |
| Jun 30, 2024 | -198.34% |
| Mar 31, 2024 | -291.96% |
| Dec 31, 2023 | 359.64% |
| Sep 30, 2023 | -231.48% |
| Jun 30, 2023 | 223.44% |
| Mar 31, 2023 | -255.06% |
| Dec 31, 2022 | 250.19% |
| Sep 30, 2022 | 164.47% |
| Jun 30, 2022 | 167.21% |
| Mar 31, 2022 | -192.50% |
| Dec 31, 2021 | 18,465.22% |
| Sep 30, 2021 | -122.65% |
| Jun 30, 2021 | -85.57% |
| Mar 31, 2021 | -102.15% |