Ballard Power Systems (BLDP) Net Cash Flow (2009 - 2025)
Ballard Power Systems (BLDP) posted quarterly Net Cash Flow of -$10.1 million for Q4 2025, down 91.15% year-over-year from -$114.0 million in Q4 2024, and down 365.7% quarter-over-quarter from -$2.2 million in Q3 2025.
Ballard Power Systems (BLDP) Net Cash Flow (2009 - 2025) Analysis & Trends
Ballard Power Systems (BLDP) has reported Net Cash Flow for 14 consecutive years, with -$10.1 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Net Cash Flow fell 91.15% year-over-year to -$10.1 million; the TTM figure through Dec 2025 stood at -$23.5 million (up 38.15% YoY), while the FY2025 annual figure was -$79.7 million, up 47.35% from the prior year.
- Net Cash Flow fell to -$10.1 million in Q4 2025 per BLDP's latest filing, from -$2.2 million in the prior quarter.
- Across five years, Net Cash Flow topped out at $521.6 million in Q1 2021 and bottomed at -$67.9 million in Q4 2021.
- Historically, Net Cash Flow has averaged $12.2 million across 5 years, with a median of -$11.1 million in 2023.
- Annual changes were most pronounced in 2021 — Net Cash Flow surged 1093.59% — and 2022, when it tumbled 330.95%.
- Ballard Power Systems' Net Cash Flow stood at -$67.9 million in 2021, then soared by 69.23% to -$20.9 million in 2022, then jumped by 42.79% to -$11.9 million in 2023, then surged by 55.84% to -$5.3 million in 2024, then slumped by 91.15% to -$10.1 million in 2025.
- Business Quant data shows BLDP's Net Cash Flow at -$10.1 million in Q4 2025, -$2.2 million in Q3 2025, and -$7.8 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 100.83 Bn | 97.72 Bn | 1.23 Bn | 680.90 Mn |
| 2 | Bloom Energy | 57.56 Bn | 54.89 Bn | 355.57 Mn | 173.11 Mn |
| 3 | Hubbell | 24.89 Bn | 24.50 Bn | 613.00 Mn | -120.40 Mn |
| 4 | nVent Electric | 24.60 Bn | 24.35 Bn | 558.00 Mn | 70.00 Mn |
| 5 | Advanced Energy Industries | 11.11 Bn | 9.69 Bn | 236.10 Mn | 698.20 Mn |
| 6 | Acuity Inc. (De) | 10.38 Bn | 9.97 Bn | 606.40 Mn | 140.00 Mn |
| 7 | Powell Industries | 7.20 Bn | 6.57 Bn | 95.30 Mn | 97.27 Mn |
| 8 | EnerSys | 6.92 Bn | 6.39 Bn | 313.36 Mn | 94.03 Mn |
| 9 | Plug Power | 3.17 Bn | 2.85 Bn | -1.68 Mn | -129.95 Mn |
| 10 | Ballard Power Systems | 725.08 Mn | 219.93 Mn | 4.08 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -10.09 Mn |
| Dec 31, 2025 | -10.09 Mn |
| Sep 30, 2025 | -2.17 Mn |
| Sep 30, 2025 | -2.17 Mn |
| Jun 30, 2025 | -7.85 Mn |
| Jun 30, 2025 | -7.85 Mn |
| Mar 31, 2025 | -3.42 Mn |
| Mar 31, 2025 | -3.42 Mn |
| Dec 31, 2024 | -5.28 Mn |
| Dec 31, 2024 | -5.28 Mn |
| Sep 30, 2024 | -15.20 Mn |
| Sep 30, 2024 | -15.20 Mn |
| Jun 30, 2024 | -7.34 Mn |
| Jun 30, 2024 | -7.34 Mn |
| Mar 31, 2024 | -10.22 Mn |
| Mar 31, 2024 | -10.22 Mn |
| Dec 31, 2023 | -11.95 Mn |
| Dec 31, 2023 | -11.95 Mn |
| Sep 30, 2023 | -12.07 Mn |
| Sep 30, 2023 | -12.07 Mn |