Ballard Power Systems Income Statement 2025-2011 | BLDP

Brief overview of profit and loss at Ballard Power Systems

The figures are compared over a five-year interval. Ballard Power Systems reported revenue of 56.5 million dollars in 2015 and 104 million dollars by 2020. The total change was +84%, with a CAGR of approximately 13%. Revenue followed a strong upward trend without signs of stagnation.

At the gross-profit level, the result moved from 10 million dollars to 21 million dollars, a change of +110.4%. At the margin level, the figure shifted from 17.7% to 20.2%. Improving gross profitability strengthens the quality of revenue growth.

The five-year EBITDA result moved by −96.1%: from −$20.3 million to −$39.8 million. Operating performance weakened relative to revenue. The EBITDA share of revenue changed from −35.9% to −38.3%. The margin contraction indicates weaker operating efficiency.

Comparing the endpoints shows a move from −5.8 million dollars to −51.4 million dollars. Profitability deteriorated further over the five years.

The five-year change in capitalization reached +4447.2%: from 187 million dollars to 8.5 billion dollars. Valuation expanded much faster than the underlying results.

Summary assessment

The current trajectory does not yet confirm a sustainable recovery. The strongest signals are better sales economics and a larger revenue base. The weaker side of the profile includes declining net profitability, limited operating profitability and weaker operating efficiency. Investors should continue to monitor margins, costs, and earnings quality.