Ballard Power Systems (BLDP) Free Cash Flow (2009 - 2025)
Ballard Power Systems (BLDP) posted quarterly Free Cash Flow of -$15.9 million for Q4 2025, up 65.51% year-over-year from -$9.6 million in Q4 2024, and down 1238.65% quarter-over-quarter from $1.4 million in Q3 2025.
Ballard Power Systems (BLDP) Free Cash Flow (2009 - 2025) Analysis & Trends
Ballard Power Systems (BLDP) has reported Free Cash Flow for 17 consecutive years, with -$15.9 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Free Cash Flow rose 65.51% year-over-year to -$15.9 million; the TTM figure through Dec 2025 stood at -$9.8 million (up 61.92% YoY), while the FY2025 annual figure was -$66.0 million, up 52.57% from the prior year.
- Free Cash Flow declined to -$15.9 million in Q4 2025 per BLDP's latest filing, from $1.4 million in the prior quarter.
- Across five years, Free Cash Flow topped out at $15.3 million in Q2 2023 and bottomed at -$75.1 million in Q4 2023.
- Historically, Free Cash Flow has averaged -$4.9 million across 5 years, with a median of $3.0 million in 2021.
- On a YoY basis, Free Cash Flow climbed as much as 266.18% in 2022 and fell as far as 1137.46% in 2022.
- Ballard Power Systems' Free Cash Flow stood at $5.1 million in 2021, then tumbled by 1137.46% to -$53.2 million in 2022, then plunged by 41.21% to -$75.1 million in 2023, then surged by 38.57% to -$46.1 million in 2024, then soared by 65.51% to -$15.9 million in 2025.
- Business Quant data shows BLDP's Free Cash Flow at -$15.9 million in Q4 2025, $1.4 million in Q3 2025, and $2.2 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 100.83 Bn | 97.72 Bn | 1.23 Bn | 926.50 Mn |
| 2 | Bloom Energy | 57.56 Bn | 54.89 Bn | 355.57 Mn | 155.97 Mn |
| 3 | Hubbell | 24.89 Bn | 24.50 Bn | 613.00 Mn | 212.80 Mn |
| 4 | nVent Electric | 24.60 Bn | 24.35 Bn | 558.00 Mn | 167.30 Mn |
| 5 | Advanced Energy Industries | 11.11 Bn | 9.69 Bn | 236.10 Mn | 36.50 Mn |
| 6 | Acuity Inc. (De) | 10.38 Bn | 9.97 Bn | 606.40 Mn | 273.60 Mn |
| 7 | Powell Industries | 7.20 Bn | 6.57 Bn | 95.30 Mn | 93.70 Mn |
| 8 | EnerSys | 6.92 Bn | 6.39 Bn | 313.36 Mn | 217.74 Mn |
| 9 | Plug Power | 3.17 Bn | 2.85 Bn | -1.68 Mn | -98.06 Mn |
| 10 | Ballard Power Systems | 725.08 Mn | 219.93 Mn | 4.08 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -15.91 Mn |
| Dec 31, 2025 | -15.91 Mn |
| Sep 30, 2025 | 1.40 Mn |
| Sep 30, 2025 | 1.40 Mn |
| Jun 30, 2025 | 2.24 Mn |
| Jun 30, 2025 | 2.24 Mn |
| Mar 31, 2025 | 2.43 Mn |
| Mar 31, 2025 | 2.43 Mn |
| Dec 31, 2024 | -46.12 Mn |
| Dec 31, 2024 | -46.12 Mn |
| Sep 30, 2024 | 11.09 Mn |
| Sep 30, 2024 | 11.09 Mn |
| Jun 30, 2024 | 1.89 Mn |
| Jun 30, 2024 | 1.89 Mn |
| Mar 31, 2024 | 7.29 Mn |
| Mar 31, 2024 | 7.29 Mn |
| Dec 31, 2023 | -75.08 Mn |
| Dec 31, 2023 | -75.08 Mn |
| Sep 30, 2023 | 6.93 Mn |
| Sep 30, 2023 | 6.93 Mn |