Ballard Power Systems (BLDP) Operating Margin (2009 - 2026)
Ballard Power Systems (BLDP) posted Operating Margin of -81.77% for the quarter ended Jun 30, 2026, up 104.31 percentage points from -186.08% a year earlier but down 11.49 percentage points from the prior quarter.
Ballard Power Systems (BLDP) Operating Margin (2009 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Margin at Ballard Power Systems was -67.53%, up 72.38 percentage points year-over-year; for the year ended Dec 31, 2025, it was -104.11%, up 158.75 percentage points from the prior year.
- Annual Operating Margin shows a five-year change of -65.84 percentage points (years ended Dec 2020 to Dec 2025).
- In prior years, Ballard Power Systems' Operating Margin was -262.87% in the year ended Dec 31, 2024 (-103.73 pp), -159.14% in the year ended Dec 31, 2023 (+18.40 pp), -177.53% in the year ended Dec 31, 2022 (-93.23 pp) and -84.31% in the year ended Dec 31, 2021 (-46.03 pp).
- Quarterly Operating Margin has run from a low of -427.51% in the quarter ended Sep 30, 2024 to a high of 167.27% in the quarter ended Sep 30, 2022 over five years.
- On a year-over-year basis, Operating Margin increased in six of the last eight quarters, with an average year-over-year change of +47.00 percentage points.
- The strongest year-over-year quarter for Operating Margin in the past five years was the quarter ended Sep 30, 2025, with a gain of 335.40 percentage points; the weakest was the quarter ended Dec 31, 2021, with a drop of 4556.67 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was -70.28% (quarter ended Mar 31, 2026), -33.48% (quarter ended Dec 31, 2025) and -92.11% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 240.95 Bn | 200.87 Bn | 2.36 Bn | 5.88% |
| 2 | Bloom Energy | 64.10 Bn | 55.90 Bn | 355.57 Mn | 17.11% |
| 3 | First Solar | 18.92 Bn | 9.87 Bn | 605.00 Mn | 42.64% |
| 4 | BWX Technologies | 12.40 Bn | 10.70 Bn | 202.31 Mn | 12.66% |
| 5 | Nextpower | 11.97 Bn | 7.86 Bn | 335.85 Mn | 20.41% |
| 6 | Generac Holdings | 11.52 Bn | 10.35 Bn | 521.81 Mn | 17.93% |
| 7 | EnerSys | 6.23 Bn | 4.42 Bn | 313.36 Mn | 16.18% |
| 8 | Enphase Energy | 4.20 Bn | -655.45 Mn | 175.01 Mn | 17.65% |
| 9 | Mirion Technologies | 3.72 Bn | 1.56 Bn | 133.10 Mn | 6.71% |
| 10 | Ballard Power Systems | 459.00 Mn | -1.63 Bn | 4.08 Mn | -81.77% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -81.77% |
| Mar 31, 2026 | -70.28% |
| Dec 31, 2025 | 86.25% |
| Sep 30, 2025 | -92.11% |
| Jun 30, 2025 | -186.08% |
| Mar 31, 2025 | -188.84% |
| Dec 31, 2024 | -183.19% |
| Sep 30, 2024 | -427.51% |
| Jun 30, 2024 | -258.40% |
| Mar 31, 2024 | -293.90% |
| Dec 31, 2023 | -96.37% |
| Sep 30, 2023 | -138.78% |
| Jun 30, 2023 | -161.19% |
| Mar 31, 2023 | -313.01% |
| Dec 31, 2022 | -185.04% |
| Sep 30, 2022 | -182.72% |
| Jun 30, 2022 | -194.27% |
| Mar 31, 2022 | -145.00% |
| Dec 31, 2021 | -110.30% |
| Sep 30, 2021 | -97.58% |
Ballard Power Systems Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=BLDP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "BLDP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=BLDP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();