Ballard Power Systems (BLDP) Net Margin (2009 - 2026)

Ballard Power Systems (BLDP) posted quarterly Net Margin of 51.89% for Q4 2025, up 39.92% quarter-over-quarter from 86.37% in Q3 2025.

Ballard Power Systems (BLDP) Net Margin (2009 - 2026) Analysis & Trends

Ballard Power Systems (BLDP) has reported Net Margin for 17 consecutive years, with 51.89% the latest figure, recorded in Q4 2025.

In Q4 2025, Net Margin changed N/A year-over-year to 51.89%; the TTM figure through Dec 2025 stood at 91.33% (down 9031.0% YoY), while the FY2024 annual figure was 1.03%, up 3171.0% from the prior year.
Net Margin rose to 51.89% in Q4 2025 per BLDP's latest filing, from 86.37% in the prior quarter.
Across five years, Net Margin topped out at 0.46% in Q4 2021 and bottomed at 136.47% in Q1 2025.
Historically, Net Margin has averaged 32.48% across 5 years, with a median of 3.3% in 2024.
Annual changes were most pronounced in 2024 — Net Margin soared 9919 bps — and 2025, when it plunged 13581 bps.
Ballard Power Systems' Net Margin stood at 0.46% in 2021, then slumped by 15606 bps to 70.79% in 2022, then surged by 93 bps to 5.05% in 2023, then jumped by 35 bps to 3.3% in 2024, then slumped by 1472 bps to 51.89% in 2025.
Business Quant data shows BLDP's Net Margin at 51.89% in Q4 2025, 86.37% in Q3 2025, and 135.81% in Q2 2025.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Net Margin (Qtr)
1	Vertiv Holdings	101.35 Bn	98.24 Bn	1.23 Bn	15.20%
2	Bloom Energy	58.17 Bn	55.50 Bn	355.57 Mn	18.42%
3	nVent Electric	24.99 Bn	24.74 Bn	558.00 Mn	14.67%
4	Hubbell	24.90 Bn	24.51 Bn	613.00 Mn	14.15%
5	Advanced Energy Industries	11.37 Bn	9.96 Bn	236.10 Mn	9.42%
6	Acuity Inc. (De)	10.36 Bn	9.95 Bn	606.40 Mn	11.77%
7	Powell Industries	7.22 Bn	6.58 Bn	95.30 Mn	16.73%
8	EnerSys	6.93 Bn	6.40 Bn	313.36 Mn	12.45%
9	Hayward Holdings	3.18 Bn	2.70 Bn	155.05 Mn	14.33%
10	Ballard Power Systems	716.03 Mn	210.88 Mn	4.08 Mn	-98.21%

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