Ballard Power Systems (BLDP) Operating Margin (2009 - 2026)
Ballard Power Systems (BLDP) posted quarterly Operating Margin of 16.05% for Q4 2025, down 8142.0% year-over-year from 0.2% in Q4 2024, and up 117.43% quarter-over-quarter from 92.11% in Q3 2025.
Ballard Power Systems (BLDP) Operating Margin (2009 - 2026) Analysis & Trends
Ballard Power Systems (BLDP) has reported Operating Margin for 17 consecutive years, with 16.05% the latest figure, recorded in Q4 2025.
- In Q4 2025, Operating Margin fell 8142.0% year-over-year to 16.05%; the TTM figure through Dec 2025 stood at 87.35% (up 8906.0% YoY), while the FY2025 annual figure was 74.67%, down 8781.0% from the prior year.
- Operating Margin advanced to 16.05% in Q4 2025 per BLDP's latest filing, from 92.11% in the prior quarter.
- Across five years, Operating Margin topped out at 242.35% in Q4 2023 and bottomed at 19954.35% in Q4 2021.
- Historically, Operating Margin has averaged 1090.72% across 5 years, with a median of 141.89% in 2022.
- Annual changes were most pronounced in 2021 — Operating Margin sank 1990566 bps — and 2022, when it jumped 1979584 bps.
- Ballard Power Systems' Operating Margin stood at 19954.35% in 2021, then soared by 99 bps to 158.51% in 2022, then soared by 253 bps to 242.35% in 2023, then slumped by 60 bps to 97.47% in 2024, then sank by 84 bps to 16.05% in 2025.
- Business Quant data shows BLDP's Operating Margin at 16.05% in Q4 2025, 92.11% in Q3 2025, and 186.08% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 101.11 Bn | 98.00 Bn | 1.23 Bn | 19.48% |
| 2 | Bloom Energy | 58.82 Bn | 56.15 Bn | 355.57 Mn | 17.11% |
| 3 | Hubbell | 25.19 Bn | 24.80 Bn | 613.00 Mn | 20.36% |
| 4 | nVent Electric | 25.03 Bn | 24.77 Bn | 558.00 Mn | 20.44% |
| 5 | Advanced Energy Industries | 11.18 Bn | 9.76 Bn | 236.10 Mn | 16.57% |
| 6 | Acuity Inc. (De) | 10.39 Bn | 9.98 Bn | 606.40 Mn | 16.14% |
| 7 | Powell Industries | 7.23 Bn | 6.60 Bn | 95.30 Mn | 20.55% |
| 8 | EnerSys | 6.94 Bn | 6.41 Bn | 313.36 Mn | 16.18% |
| 9 | Hayward Holdings | 3.20 Bn | 2.71 Bn | 155.05 Mn | 23.87% |
| 10 | Ballard Power Systems | 732.61 Mn | 227.46 Mn | 4.08 Mn | -81.77% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -81.77% |
| Dec 31, 2025 | 16.05% |
| Sep 30, 2025 | -92.11% |
| Jun 30, 2025 | -186.08% |
| Mar 31, 2025 | -188.84% |
| Dec 31, 2024 | 97.47% |
| Sep 30, 2024 | -427.51% |
| Jun 30, 2024 | -258.40% |
| Mar 31, 2024 | -293.90% |
| Dec 31, 2023 | 242.35% |
| Sep 30, 2023 | -138.78% |
| Jun 30, 2023 | 141.05% |
| Mar 31, 2023 | -313.01% |
| Dec 31, 2022 | -158.51% |
| Sep 30, 2022 | 167.27% |
| Jun 30, 2022 | -194.27% |
| Mar 31, 2022 | -145.00% |
| Dec 31, 2021 | -19,954.35% |
| Sep 30, 2021 | -97.58% |
| Jun 30, 2021 | 56.89% |