Ballard Power Systems (BLDP) FCF Margin (2009 - 2025)
Ballard Power Systems (BLDP) posted quarterly FCF Margin of 47.29% for Q4 2025, up 14081.0% year-over-year from N/an in Q4 2024, and down 1200.17% quarter-over-quarter from 4.3% in Q3 2025.
Ballard Power Systems (BLDP) FCF Margin (2009 - 2025) Analysis & Trends
Ballard Power Systems (BLDP) has reported FCF Margin for 17 consecutive years, with 47.29% the latest figure, recorded in Q4 2025.
- In Q4 2025, FCF Margin rose 14081.0% year-over-year to 47.29%; the TTM figure through Dec 2025 stood at 9.91% (up 2716.0% YoY), while the FY2025 annual figure was 66.43%, up 13317.0% from the prior year.
- FCF Margin slipped to 47.29% in Q4 2025 per BLDP's latest filing, from 4.3% in the prior quarter.
- Across five years, FCF Margin topped out at 3713.77% in Q4 2021 and bottomed at 286.82% in Q4 2022.
- Historically, FCF Margin has averaged 177.18% across 5 years, with a median of 17.13% in 2022.
- Annual changes were most pronounced in 2021 — FCF Margin soared 370136 bps — and 2022, when it sank 400058 bps.
- Ballard Power Systems' FCF Margin stood at 3713.77% in 2021, then plunged by 108 bps to 286.82% in 2022, then surged by 44 bps to 160.6% in 2023, then declined by 17 bps to 188.1% in 2024, then surged by 75 bps to 47.29% in 2025.
- Business Quant data shows BLDP's FCF Margin at 47.29% in Q4 2025, 4.3% in Q3 2025, and 12.53% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 101.11 Bn | 98.00 Bn | 1.23 Bn | 28.30% |
| 2 | Bloom Energy | 57.80 Bn | 55.13 Bn | 355.57 Mn | 14.64% |
| 3 | Hubbell | 24.95 Bn | 24.55 Bn | 613.00 Mn | 12.43% |
| 4 | nVent Electric | 24.82 Bn | 24.56 Bn | 558.00 Mn | 11.37% |
| 5 | Advanced Energy Industries | 11.13 Bn | 9.71 Bn | 236.10 Mn | 6.36% |
| 6 | Acuity Inc. (De) | 10.40 Bn | 9.99 Bn | 606.40 Mn | 22.84% |
| 7 | Powell Industries | 7.24 Bn | 6.61 Bn | 95.30 Mn | 30.06% |
| 8 | EnerSys | 6.95 Bn | 6.42 Bn | 313.36 Mn | 23.27% |
| 9 | Plug Power | 3.20 Bn | 2.88 Bn | -1.68 Mn | -55.00% |
| 10 | Ballard Power Systems | 726.22 Mn | 221.07 Mn | 4.08 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -47.29% |
| Sep 30, 2025 | 4.30% |
| Jun 30, 2025 | 12.53% |
| Mar 31, 2025 | 15.79% |
| Dec 31, 2024 | -188.10% |
| Sep 30, 2024 | 75.17% |
| Jun 30, 2024 | 11.80% |
| Mar 31, 2024 | 50.46% |
| Dec 31, 2023 | -160.60% |
| Sep 30, 2023 | 25.61% |
| Jun 30, 2023 | 99.91% |
| Mar 31, 2023 | 87.87% |
| Dec 31, 2022 | -286.82% |
| Sep 30, 2022 | 31.20% |
| Jun 30, 2022 | 41.53% |
| Mar 31, 2022 | 18.47% |
| Dec 31, 2021 | 3,713.77% |
| Sep 30, 2021 | 8.63% |
| Jun 30, 2021 | 9.51% |
| Mar 31, 2021 | 19.77% |