Ballard Power Systems (BLDP) FCF Margin (2009 - 2025)
Ballard Power Systems (BLDP) reported FCF Margin of 13.4% for Q4 2025, up 7519.0% year-over-year from 0.18% in Q4 2024, and up 79.71% quarter-over-quarter from 66.03% in Q3 2025.
Ballard Power Systems (BLDP) FCF Margin (2009 - 2025) Analysis & Trends
Ballard Power Systems (BLDP) has 17 years of FCF Margin data on file, last reported at 13.4% in Q4 2025.
- FCF Margin for Q4 2025 came in at 13.4%, up 7519.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 66.46% (up 5564.0% YoY), and the FY2025 annual result was 46.65%, down 7130.0% from the prior year.
- FCF Margin rose to 13.4% in Q4 2025 per BLDP's latest filing, from 66.03% in the prior quarter.
- Over five years, FCF Margin peaked at 25960.14% in Q4 2021 and troughed at 207.55% in Q2 2024.
- A 5-year average of 1218.44% and a median of 84.39% in 2023 frame the typical range for FCF Margin.
- The sharpest annual moves came in 2021 and 2022: FCF Margin jumped 2592430 bps in 2021, then sank 2613269 bps in 2022.
- A 5-year view of FCF Margin shows it stood at 25960.14% in 2021, then sank by 101 bps to 172.55% in 2022, then surged by 141 bps to 70.63% in 2023, then slumped by 225 bps to 88.59% in 2024, then surged by 85 bps to 13.4% in 2025.
- Business Quant data shows BLDP's FCF Margin at 13.4% in Q4 2025, 66.03% in Q3 2025, and 101.43% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Novonix | 395.03 Bn | 394.98 Bn | - | - |
| 2 | Vertiv Holdings | 110.52 Bn | 108.02 Bn | 999.70 Mn | 28.89% |
| 3 | Bloom Energy | 73.12 Bn | 70.66 Bn | 225.54 Mn | 6.31% |
| 4 | nVent Electric | 26.38 Bn | 26.19 Bn | 445.60 Mn | 3.95% |
| 5 | Hubbell | 25.79 Bn | 25.28 Bn | 505.30 Mn | 3.03% |
| 6 | Advanced Energy Industries | 11.69 Bn | 11.69 Bn | 200.90 Mn | -8.26% |
| 7 | Ballard Power Systems | 11.51 Bn | 10.98 Bn | 5.64 Mn | -13.40% |
| 8 | Powell Industries | 10.32 Bn | 9.77 Bn | 87.94 Mn | 16.63% |
| 9 | Acuity Inc. (De) | 9.21 Bn | 8.94 Bn | 520.40 Mn | 6.94% |
| 10 | EnerSys | 8.48 Bn | 8.04 Bn | 290.87 Mn | 13.28% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -13.40% |
| Sep 30, 2025 | -66.03% |
| Jun 30, 2025 | -101.43% |
| Mar 31, 2025 | -142.78% |
| Dec 31, 2024 | -88.59% |
| Sep 30, 2024 | -118.64% |
| Jun 30, 2024 | -207.55% |
| Mar 31, 2024 | -87.87% |
| Dec 31, 2023 | 70.63% |
| Sep 30, 2023 | -55.63% |
| Jun 30, 2023 | -80.90% |
| Mar 31, 2023 | -188.16% |
| Dec 31, 2022 | -172.55% |
| Sep 30, 2022 | 173.16% |
| Jun 30, 2022 | -144.70% |
| Mar 31, 2022 | -179.60% |
| Dec 31, 2021 | 25,960.14% |
| Sep 30, 2021 | -48.62% |
| Jun 30, 2021 | -69.13% |
| Mar 31, 2021 | -69.52% |