Ballard Power Systems (BLDP) Return on Capital Employed (2009 - 2025)
Ballard Power Systems (BLDP) reported Return on Capital Employed of 16.28% for Q4 2025, up 889.0% year-over-year from 1.65% in Q4 2024, and up 17.91% quarter-over-quarter from 19.83% in Q3 2025.
Ballard Power Systems (BLDP) Return on Capital Employed (2009 - 2025) Analysis & Trends
Ballard Power Systems (BLDP) has 17 years of Return on Capital Employed data on file, last reported at 16.28% in Q4 2025.
- Return on Capital Employed for Q4 2025 came in at 16.28%, up 889.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 16.28% (up 889.0% YoY), and the FY2025 annual result was 15.47%, up 605.0% from the prior year.
- Return on Capital Employed climbed to 16.28% in Q4 2025 per BLDP's latest filing, from 19.83% in the prior quarter.
- Over five years, Return on Capital Employed peaked at 3.82% in Q1 2021 and troughed at 25.17% in Q4 2024.
- A 5-year average of 14.18% and a median of 13.66% in 2023 frame the typical range for Return on Capital Employed.
- The sharpest annual moves came in 2024 and 2025: Return on Capital Employed tumbled 938 bps in 2024, then surged 889 bps in 2025.
- A 5-year view of Return on Capital Employed shows it stood at 6.48% in 2021, then sank by 88 bps to 12.17% in 2022, then slipped by 30 bps to 15.78% in 2023, then plunged by 59 bps to 25.17% in 2024, then soared by 35 bps to 16.28% in 2025.
- Business Quant data shows BLDP's Return on Capital Employed at 16.28% in Q4 2025, 19.83% in Q3 2025, and 23.9% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Novonix | 395.03 Bn | 394.98 Bn | - | - |
| 2 | Vertiv Holdings | 110.52 Bn | 108.02 Bn | 999.70 Mn | 26.52% |
| 3 | Bloom Energy | 73.12 Bn | 70.66 Bn | 225.54 Mn | 4.38% |
| 4 | nVent Electric | 26.38 Bn | 26.19 Bn | 445.60 Mn | 11.66% |
| 5 | Hubbell | 25.79 Bn | 25.28 Bn | 505.30 Mn | 18.97% |
| 6 | Advanced Energy Industries | 11.69 Bn | 11.69 Bn | 200.90 Mn | 13.11% |
| 7 | Ballard Power Systems | 11.51 Bn | 10.98 Bn | 5.64 Mn | -16.28% |
| 8 | Powell Industries | 10.32 Bn | 9.77 Bn | 87.94 Mn | 32.43% |
| 9 | Acuity Inc. (De) | 9.21 Bn | 8.94 Bn | 520.40 Mn | 15.83% |
| 10 | EnerSys | 8.48 Bn | 8.04 Bn | 290.87 Mn | 13.24% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -16.28% |
| Sep 30, 2025 | -19.83% |
| Jun 30, 2025 | -23.90% |
| Mar 31, 2025 | -24.55% |
| Dec 31, 2024 | -25.17% |
| Sep 30, 2024 | -22.77% |
| Jun 30, 2024 | -17.28% |
| Mar 31, 2024 | -16.51% |
| Dec 31, 2023 | -15.78% |
| Sep 30, 2023 | -13.61% |
| Jun 30, 2023 | -13.70% |
| Mar 31, 2023 | -13.48% |
| Dec 31, 2022 | -12.17% |
| Sep 30, 2022 | -11.60% |
| Jun 30, 2022 | -9.58% |
| Mar 31, 2022 | -7.71% |
| Dec 31, 2021 | -6.48% |
| Sep 30, 2021 | -5.34% |
| Jun 30, 2021 | -4.06% |
| Mar 31, 2021 | -3.82% |