Ballard Power Systems Inc (BLDP) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Ballard Power Systems Inc stock $1.45, price $1.54, that is 5.8% below the price, quality 50 out of 100. Rating: fairly valued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range $1.02 – $19.34 · fair‑value band $0.9600 – $1.81 · the $1.54 price screens above the $1.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products.
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The company offers products for various applications focusing on power products for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.
It also engages in the delivery of services, including technology solutions, after sales services, and training, as well as offers engineering and technology transfer services.
The company operates in the United States, Poland, Canada, Germany, the United Kingdom, Egypt, Spain, China, the Netherlands, Denmark, France, and internationally. Ballard Power Systems Inc. was founded in 1979 and is headquartered in Burnaby, Canada.
Stock analysis
Ballard Power Systems Inc (BLDP) currently trades at $1.54, while our model-based Fair Value estimate is $1.45, so the stock looks roughly fairly valued today (gap 6.2%).
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $0.9600 (bear) to $1.81 (bull), the price of $1.54 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 50/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Ballard Power Systems Inc reported revenue of $101M in FY2025 versus $105M in FY2021, a compound −0.8%/yr. Reported net income was −$92.5M in FY2025.
Key figures
Market cap $547M Small · P/S ratio 5.36 · EPS (TTM) $−0.2600 · Net margin −72.8% · Return on equity −12.9% · Return on assets (EBIT) −13.9% (5-year average) · Operating margin −62.0% · Revenue (TTM) $106M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).
What moves the price
The share trades about 76% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at −6%, BLDP screens cheaper than that median.
Fair Value models
Bear$0.9600Fair Value $1.45Bull$1.81
Price $1.54 · Downside -5.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.10/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+45.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.5%
Start year 2020 (pandemic). Over 10 years: +6.0% a year
Revenue growth 32 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.2%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−38.3% (2020) → −80.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
News mood ⓘNews mood, the average tone of recent news (87 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Compare Ballard Power Systems Inc with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electrical Equipment & Parts · 564 stocks
Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside−5.8% · Above median
Profitability
Return on assets−13.6% · Bottom 25%
Net margin (12 months)−72.8% · Bottom 25%
Operating margin (12 months)−62.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)15.4% · Above median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Ballard Power Systems Inc Fair Value". https://www.fairvalue-calculator.com/stock/BLDP
Frequently asked questions
Is Ballard Power Systems Inc (BLDP) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $1.45 versus a price of $1.54, about 6% lower (fairly valued).
What is the fair value of BLDP?
Our model-based fair value for Ballard Power Systems Inc is $1.45 (as of Nov 8, 2026), built from audited fundamentals. The current price: $1.54.
What is the quality score of BLDP?
Ballard Power Systems Inc has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ballard Power Systems Inc (BLDP)?
Our model-based price target is the fair value of $1.45 (as of Nov 8, 2026) from 1 valuation models. Cautious scenario $0.9600, optimistic scenario $1.81. It is a calculation from audited fundamentals, not an analyst target.
What is the Ballard Power Systems Inc stock forecast for 2026?
Our models put fair value at $1.45, about 6% lower versus a price of $1.54 (fairly valued). Cautious scenario $0.9600, optimistic scenario $1.81. The calculation is refreshed regularly with new filings.
What is the revenue of Ballard Power Systems Inc (BLDP)?
Ballard Power Systems Inc reported trailing-twelve-month revenue of about $106M (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Ballard Power Systems Inc (BLDP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ballard Power Systems Inc it is $1.45 per share (as of Nov 8, 2026), against a price of $1.54. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Ballard Power Systems Inc stock overvalued or undervalued in 2026?
As of Nov 8, 2026, BLDP trades above its calculated fair value: price $1.54, fair value $1.45, a gap of about −6% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BLDP?
No. The price is what the market pays today ($1.54); the fair value is what the company's own numbers justify ($1.45). For Ballard Power Systems Inc the two are $0.0900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ballard Power Systems Inc worth?
The market values Ballard Power Systems Inc at about $547M (market capitalisation, as of Nov 8, 2026). Per share that is $1.54; our models calculate a fair value of $1.45 per share.
What do the bullish and bearish scenarios say about BLDP?
Our models span a range for Ballard Power Systems Inc: cautious scenario $0.9600, base $1.45, optimistic $1.81 per share (as of Nov 8, 2026, price $1.54). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of BLDP?
The PEG ratio of Ballard Power Systems Inc is 3.52 (P/E divided by earnings growth, as of Nov 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Ballard Power Systems Inc (BLDP)?
Balance-sheet figures for Ballard Power Systems Inc (as of Nov 8, 2026): return on equity −12.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is BLDP from its 52-week high?
Ballard Power Systems Inc trades at $1.54, about 76% below its 52-week high of $6.38 and 8% above the low of $1.43 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $1.45 is for.
Which stocks are comparable to Ballard Power Systems Inc?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ballard Power Systems Inc stock attractive at the current price?
The data as of Nov 8, 2026: price $1.54, calculated fair value $1.45 (−6%), Quality Score 50/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BLDP calculated?
We run Ballard Power Systems Inc through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $1.45 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Ballard Power Systems Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ballard Power Systems Inc (BLDP)?
The closing price on Nov 6, 2026 was $1.54. Our model-based fair value is $1.45, about 6% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ballard Power Systems Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($0.9600 to $1.81) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Ballard Power Systems Inc
How large is the market capitalisation of Ballard Power Systems Inc (BLDP)?
The market capitalisation of Ballard Power Systems Inc is $547M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ballard Power Systems Inc (BLDP)?
The price-to-sales ratio of Ballard Power Systems Inc is 5.36 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ballard Power Systems Inc (BLDP)?
Earnings per share at Ballard Power Systems Inc are $−0.2600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ballard Power Systems Inc (BLDP)?
The net margin of Ballard Power Systems Inc is −72.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ballard Power Systems Inc (BLDP)?
The return on equity (ROE) of Ballard Power Systems Inc is −12.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ballard Power Systems Inc (BLDP)?
On an EBIT basis the return on assets of Ballard Power Systems Inc is −13.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ballard Power Systems Inc (BLDP)?
The operating margin of Ballard Power Systems Inc is −62.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ballard Power Systems Inc (BLDP)?
Revenue at Ballard Power Systems Inc is growing +15.4% versus a year earlier (3y avg +6.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Ballard Power Systems Inc (BLDP) generate?
The free cash flow of Ballard Power Systems Inc is −$67.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Ballard Power Systems Inc (BLDP) hold?
Ballard Power Systems Inc holds more cash than debt, $504M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 8, 2026