Ballard Power Systems (BLDP) Operating Income (2009 - 2025)

Ballard Power Systems' (BLDP) quarterly Operating Income came in at -$11.3 million in Q4 2025, up 69.05% year-on-year from -$6.7 million in Q4 2024, and up 62.38% on a QoQ basis from -$29.9 million in Q3 2025.

Ballard Power Systems (BLDP) Operating Income (2009 - 2025) Analysis & Trends

Ballard Power Systems (BLDP) has 17 years of Operating Income data on file, last reported at -$11.3 million in Q4 2025.

  • On a quarterly basis, Operating Income rose 69.05% year-over-year to -$11.3 million in Q4 2025; TTM through Dec 2025 was -$103.5 million, a 43.56% increase from a year earlier, with the FY2025 full-year figure at -$103.5 million, up 43.56% from the prior year.
  • Operating Income for Q4 2025 stood at -$11.3 million, up from -$29.9 million in the prior quarter.
  • Over the last five years, Operating Income for BLDP reached as high as -$11.3 million in Q4 2025 and fell as low as -$63.1 million in Q3 2024.
  • Historically, Operating Income has averaged -$34.2 million across 5 years, with a median of -$34.8 million in 2024.
  • Across the five-year window, Operating Income plunged 217.45% in 2021 and surged 69.05% in 2025, its largest moves.
  • Year by year, Operating Income stood at -$27.5 million in 2021, then dropped by 6.71% to -$29.4 million in 2022, then plunged by 53.61% to -$45.1 million in 2023, then grew by 19.38% to -$36.4 million in 2024, then jumped by 69.05% to -$11.3 million in 2025.
  • Per Business Quant data, the three most recent Operating Income figures were -$11.3 million in Q4 2025, -$29.9 million in Q3 2025, and -$33.2 million in Q2 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Op. Inc (Qtr)
1 Electrovaya 424.38 Bn 424.36 Bn 6.04 Mn 2.18 Mn
2 Vertiv Holdings 116.45 Bn 113.95 Bn 999.70 Mn 440.10 Mn
3 Bloom Energy 61.23 Bn 58.77 Bn 225.54 Mn 72.19 Mn
4 Hubbell 25.93 Bn 25.43 Bn 505.30 Mn 263.80 Mn
5 nVent Electric 25.66 Bn 25.47 Bn 445.60 Mn 195.70 Mn
6 Advanced Energy Industries 11.88 Bn 11.18 Bn 200.90 Mn 68.30 Mn
7 Acuity Inc. (De) 9.90 Bn 9.48 Bn 606.40 Mn 193.30 Mn
8 Powell Industries 9.42 Bn 8.87 Bn 87.94 Mn 57.58 Mn
9 EnerSys 7.49 Bn 7.05 Bn 290.87 Mn 123.70 Mn
10 Ballard Power Systems 895.53 Mn 364.27 Mn 5.64 Mn -11.26 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 -11.26 Mn
Sep 30, 2025 -29.94 Mn
Jun 30, 2025 -33.20 Mn
Mar 31, 2025 -29.06 Mn
Dec 31, 2024 -36.39 Mn
Sep 30, 2024 -63.08 Mn
Jun 30, 2024 -41.35 Mn
Mar 31, 2024 -42.48 Mn
Dec 31, 2023 -45.14 Mn
Sep 30, 2023 -37.56 Mn
Jun 30, 2023 -38.76 Mn
Mar 31, 2023 -41.45 Mn
Dec 31, 2022 -29.39 Mn
Sep 30, 2022 -44.76 Mn
Jun 30, 2022 -40.66 Mn
Mar 31, 2022 -30.52 Mn
Dec 31, 2021 -27.54 Mn
Sep 30, 2021 -24.61 Mn
Jun 30, 2021 -20.61 Mn
Mar 31, 2021 -15.34 Mn