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Ballard Power Systems Inc.

EDGAR

BLDP Report (type unavailable) · filed 2026-10-07

Annual consolidated revenue for 2025: about USD 99.37M, using the latest reported figures. The previous period, 2024, was about USD 69.73M.

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Watchlist

Latest fiscal year

Revenue

99.4 million USD

2025 · USD

Exact inputs and evidence

Revenue: 99370000 USD Source

Operating margin

-104.11%

2025 · %

Exact inputs and evidence

Operating Income: -103458000 USD Source
Revenue: 99370000 USD Source

Operating cash flow

-56.2 million USD

2025 · USD

Exact inputs and evidence

Operating Cash Flow: -56167000 USD Source

Free cash flow

-66 million USD

2025 · USD

Exact inputs and evidence

Operating Cash Flow: -56167000 USD Source
Capital Expenditure: 9844000 USD Source

Cash and cash equivalents: 527 million USD 2025-12-31 Source
Exact value

527052000 USD
Long-term debt including current maturities: Not available
Shares outstanding: Not available

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-07.

Financial data available through: 2025-12-31.

Coverage by financial measure

Revenue: 10 of 11 periods available· newest 2025-12-31
Operating income: 10 of 11 periods available· newest 2025-12-31
Net income: 2 of 11 periods available· newest 2017-12-31
Operating cash flow: 10 of 11 periods available· newest 2025-12-31
Capital expenditure: 10 of 11 periods available· newest 2025-12-31
Total assets: 10 of 11 periods available· newest 2025-12-31
Total liabilities: 10 of 11 periods available· newest 2025-12-31
Current assets: 10 of 11 periods available· newest 2025-12-31
Current liabilities: 10 of 11 periods available· newest 2025-12-31
Cash and cash equivalents: 10 of 11 periods available· newest 2025-12-31
long term debt: No compatible figures in this window
shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

Revenue
+42.5%

Prior period

USD 69.73 million

2024-01-01 – 2024-12-31
Current period

USD 99.37 million

2025-01-01 – 2025-12-31

Exact inputs and evidence

99370000 − 69731000 = 29639000 USD

69731000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
99370000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

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Citation for Year-over-year change in Revenue · Ballard Power Systems Inc. · 2025-12-31 Ballard Power Systems Inc. (edgar:1453015) Year-over-year change in Revenue: 29639000 USD Concept: fundies:Revenue Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:Revenue: 99370000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#1887641 Filing: 000162828026017045 Input fundies:Revenue: 69731000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#1887802 Filing: 000162828026017045
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
+USD 51.93 million

Prior period

−USD 108.1 million

2024-01-01 – 2024-12-31
Current period

−USD 56.17 million

2025-01-01 – 2025-12-31

Exact inputs and evidence

-56167000 − -108099000 = 51932000 USD

-108099000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
-56167000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

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Citation for Year-over-year change in Operating cash flow · Ballard Power Systems Inc. · 2025-12-31 Ballard Power Systems Inc. (edgar:1453015) Year-over-year change in Operating cash flow: 51932000 USD Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:OperatingCashFlow: -56167000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#299104 Filing: 000162828026017045 Input fundies:OperatingCashFlow: -108099000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#299275 Filing: 000162828026017045
The citation records this snapshot. The page link may show a newer release later.
Capital expenditure
-61.9%

Prior period

USD 25.85 million

2024-01-01 – 2024-12-31
Current period

USD 9.84 million

2025-01-01 – 2025-12-31

Exact inputs and evidence

9844000 − 25849000 = -16005000 USD

25849000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
9844000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Capital expenditure · Ballard Power Systems Inc. · 2025-12-31 Ballard Power Systems Inc. (edgar:1453015) Year-over-year change in Capital expenditure: -16005000 USD Concept: fundies:CapitalExpenditure Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:CapitalExpenditure: 9844000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#300199 Filing: 000162828026017045 Input fundies:CapitalExpenditure: 25849000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#300424 Filing: 000162828026017045
The citation records this snapshot. The page link may show a newer release later.

Comparable inputs unavailable for: Net income.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

Revenue USD 99.37 million 100% of revenue
Operating costs Derived USD 202.83 million 204% of revenue
Operating income −USD 103.46 million −104% of revenue
Tax, interest and other Derived Unavailable An input is unavailable.
Net income Unavailable An input is unavailable.

Cash

Operating cash flow −USD 56.17 million −57% of revenue
Capital expenditure USD 9.84 million 9.9% of revenue
Free cash flow Derived −USD 66.01 million −66% of revenue

Share of revenue by period

Net income
Tax, interest and other
Operating costs

2016 Operating loss: operating costs were 121% of revenue.
2017 Operating loss: operating costs were 104% of revenue.
2018 Not shown: operating income or net income is not reported.
2019 Not shown: operating income or net income is not reported.
2020 Not shown: operating income or net income is not reported.
2021 Not shown: operating income or net income is not reported.
2022 Not shown: operating income or net income is not reported.
2023 Not shown: operating income or net income is not reported.
2024 Not shown: operating income or net income is not reported.
2025 Not shown: operating income or net income is not reported.

Values and sources

Revenue breakdown by annual reporting period
Period	Revenue	Operating costs	Operating income	Tax, interest and other	Net income	Free cash flow	Source
2016 2016-01-01 – 2016-12-31	85270000	103339000 Derived	-18069000	3043000 Derived	-21112000	-6682000 Derived	Source 2016-01-01 – 2016-12-31: 85270000 USD Inspect Revenue Open source 2016-01-01 – 2016-12-31: -18069000 USD Inspect Operating Income Open source 2016-01-01 – 2016-12-31: -21112000 USD Inspect Net Income Open source 2016-01-01 – 2016-12-31: -3904000 USD Inspect Operating Cash Flow Open source 2016-01-01 – 2016-12-31: 2778000 USD Inspect Capital Expenditure Open source
2017 2017-01-01 – 2017-12-31	121288000	126165000 Derived	-4877000	3171000 Derived	-8048000	-12836000 Derived	Source 2017-01-01 – 2017-12-31: 121288000 USD Inspect Revenue Open source 2017-01-01 – 2017-12-31: -4877000 USD Inspect Operating Income Open source 2017-01-01 – 2017-12-31: -8048000 USD Inspect Net Income Open source 2017-01-01 – 2017-12-31: -9768000 USD Inspect Operating Cash Flow Open source 2017-01-01 – 2017-12-31: 3068000 USD Inspect Capital Expenditure Open source
2018 2018-01-01 – 2018-12-31	96586000	117384000 Derived	-20798000	Unavailable	Unavailable	-41542000 Derived	Source 2018-01-01 – 2018-12-31: 96586000 USD Inspect Revenue Open source 2018-01-01 – 2018-12-31: -20798000 USD Inspect Operating Income Open source 2018-01-01 – 2018-12-31: -31688000 USD Inspect Operating Cash Flow Open source 2018-01-01 – 2018-12-31: 9854000 USD Inspect Capital Expenditure Open source
2019 2019-01-01 – 2019-12-31	105723000	131169000 Derived	-25446000	Unavailable	Unavailable	-28164000 Derived	Source 2019-01-01 – 2019-12-31: 105723000 USD Inspect Revenue Open source 2019-01-01 – 2019-12-31: -25446000 USD Inspect Operating Income Open source 2019-01-01 – 2019-12-31: -14230000 USD Inspect Operating Cash Flow Open source 2019-01-01 – 2019-12-31: 13934000 USD Inspect Capital Expenditure Open source
2020 2020-01-01 – 2020-12-31	103877000	143638000 Derived	-39761000	Unavailable	Unavailable	-55554000 Derived	Source 2020-01-01 – 2020-12-31: 103877000 USD Inspect Revenue Open source 2020-01-01 – 2020-12-31: -39761000 USD Inspect Operating Income Open source 2020-01-01 – 2020-12-31: -42934000 USD Inspect Operating Cash Flow Open source 2020-01-01 – 2020-12-31: 12620000 USD Inspect Capital Expenditure Open source
2021 2021-01-01 – 2021-12-31	104505000	192608000 Derived	-88103000	Unavailable	Unavailable	-93634000 Derived	Source 2021-01-01 – 2021-12-31: 104505000 USD Inspect Revenue Open source 2021-01-01 – 2021-12-31: -88103000 USD Inspect Operating Income Open source 2021-01-01 – 2021-12-31: -80476000 USD Inspect Operating Cash Flow Open source 2021-01-01 – 2021-12-31: 13158000 USD Inspect Capital Expenditure Open source
2022 2022-01-01 – 2022-12-31	81860000	227188000 Derived	-145328000	Unavailable	Unavailable	-166103000 Derived	Source 2022-01-01 – 2022-12-31: 81860000 USD Inspect Revenue Open source 2022-01-01 – 2022-12-31: -145328000 USD Inspect Operating Income Open source 2022-01-01 – 2022-12-31: -132171000 USD Inspect Operating Cash Flow Open source 2022-01-01 – 2022-12-31: 33932000 USD Inspect Capital Expenditure Open source
2023 2023-01-01 – 2023-12-31	102368000	265272000 Derived	-162904000	Unavailable	Unavailable	-145784000 Derived	Source 2023-01-01 – 2023-12-31: 102368000 USD Inspect Revenue Open source 2023-01-01 – 2023-12-31: -162904000 USD Inspect Operating Income Open source 2023-01-01 – 2023-12-31: -104570000 USD Inspect Operating Cash Flow Open source 2023-01-01 – 2023-12-31: 41214000 USD Inspect Capital Expenditure Open source
2024 2024-01-01 – 2024-12-31	69731000	253031000 Derived	-183300000	Unavailable	Unavailable	-133948000 Derived	Source 2024-01-01 – 2024-12-31: 69731000 USD Inspect Revenue Open source 2024-01-01 – 2024-12-31: -183300000 USD Inspect Operating Income Open source 2024-01-01 – 2024-12-31: -108099000 USD Inspect Operating Cash Flow Open source 2024-01-01 – 2024-12-31: 25849000 USD Inspect Capital Expenditure Open source
2025 2025-01-01 – 2025-12-31	99370000	202828000 Derived	-103458000	Unavailable	Unavailable	-66011000 Derived	Source 2025-01-01 – 2025-12-31: 99370000 USD Inspect Revenue Open source 2025-01-01 – 2025-12-31: -103458000 USD Inspect Operating Income Open source 2025-01-01 – 2025-12-31: -56167000 USD Inspect Operating Cash Flow Open source 2025-01-01 – 2025-12-31: 9844000 USD Inspect Capital Expenditure Open source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 99.4M 2025

Values and sources

Revenue values and source evidence
Period	Series	Value(USD)	Source evidence
20162016-12-31	Revenue	85270000	Revenue: 85270000 Open source
20172017-12-31	Revenue	121288000	Revenue: 121288000 Open source
20182018-12-31	Revenue	96586000	Revenue: 96586000 Open source
20192019-12-31	Revenue	105723000	Revenue: 105723000 Open source
20202020-12-31	Revenue	103877000	Revenue: 103877000 Open source
20212021-12-31	Revenue	104505000	Revenue: 104505000 Open source
20222022-12-31	Revenue	81860000	Revenue: 81860000 Open source
20232023-12-31	Revenue	102368000	Revenue: 102368000 Open source
20242024-12-31	Revenue	69731000	Revenue: 69731000 Open source
20252025-12-31	Revenue	99370000	Revenue: 99370000 Open source

Revenue growth

Change in revenue from the same financial period one year earlier.

42.5% 2025

Values and sources

Revenue growth values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Year over year	No prior comparable period	Revenue: 85270000 Open source
20172017-12-31	Year over year	42.2%	Revenue: 121288000 Open source Revenue: 85270000 Open source
20182018-12-31	Year over year	-20.4%	Revenue: 96586000 Open source Revenue: 121288000 Open source
20192019-12-31	Year over year	9.5%	Revenue: 105723000 Open source Revenue: 96586000 Open source
20202020-12-31	Year over year	-1.7%	Revenue: 103877000 Open source Revenue: 105723000 Open source
20212021-12-31	Year over year	0.6%	Revenue: 104505000 Open source Revenue: 103877000 Open source
20222022-12-31	Year over year	-21.7%	Revenue: 81860000 Open source Revenue: 104505000 Open source
20232023-12-31	Year over year	25.1%	Revenue: 102368000 Open source Revenue: 81860000 Open source
20242024-12-31	Year over year	-31.9%	Revenue: 69731000 Open source Revenue: 102368000 Open source
20252025-12-31	Year over year	42.5%	Revenue: 99370000 Open source Revenue: 69731000 Open source

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -104.1% 2025

Net margin -6.6% 2017

Free cash flow margin -66.4% 2025

Operating margin
Net margin
Free cash flow margin

Values and sources

Profit margins values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Operating margin	-21.2%	Operating Income: -18069000 Open source Revenue: 85270000 Open source
20172017-12-31	Operating margin	-4%	Operating Income: -4877000 Open source Revenue: 121288000 Open source
20182018-12-31	Operating margin	-21.5%	Operating Income: -20798000 Open source Revenue: 96586000 Open source
20192019-12-31	Operating margin	-24.1%	Operating Income: -25446000 Open source Revenue: 105723000 Open source
20202020-12-31	Operating margin	-38.3%	Operating Income: -39761000 Open source Revenue: 103877000 Open source
20212021-12-31	Operating margin	-84.3%	Operating Income: -88103000 Open source Revenue: 104505000 Open source
20222022-12-31	Operating margin	-177.5%	Operating Income: -145328000 Open source Revenue: 81860000 Open source
20232023-12-31	Operating margin	-159.1%	Operating Income: -162904000 Open source Revenue: 102368000 Open source
20242024-12-31	Operating margin	-262.9%	Operating Income: -183300000 Open source Revenue: 69731000 Open source
20252025-12-31	Operating margin	-104.1%	Operating Income: -103458000 Open source Revenue: 99370000 Open source
20162016-12-31	Net margin	-24.8%	Net Income: -21112000 Open source Revenue: 85270000 Open source
20172017-12-31	Net margin	-6.6%	Net Income: -8048000 Open source Revenue: 121288000 Open source
2018-12-31	Net margin	Not reported	Revenue: 96586000 Open source
2019-12-31	Net margin	Not reported	Revenue: 105723000 Open source
2020-12-31	Net margin	Not reported	Revenue: 103877000 Open source
2021-12-31	Net margin	Not reported	Revenue: 104505000 Open source
2022-12-31	Net margin	Not reported	Revenue: 81860000 Open source
2023-12-31	Net margin	Not reported	Revenue: 102368000 Open source
2024-12-31	Net margin	Not reported	Revenue: 69731000 Open source
2025-12-31	Net margin	Not reported	Revenue: 99370000 Open source
20162016-12-31	Free cash flow margin	-7.8%	Revenue: 85270000 Open source Operating Cash Flow: -3904000 Open source Capital Expenditure: 2778000 Open source
20172017-12-31	Free cash flow margin	-10.6%	Revenue: 121288000 Open source Operating Cash Flow: -9768000 Open source Capital Expenditure: 3068000 Open source
20182018-12-31	Free cash flow margin	-43%	Revenue: 96586000 Open source Operating Cash Flow: -31688000 Open source Capital Expenditure: 9854000 Open source
20192019-12-31	Free cash flow margin	-26.6%	Revenue: 105723000 Open source Operating Cash Flow: -14230000 Open source Capital Expenditure: 13934000 Open source
20202020-12-31	Free cash flow margin	-53.5%	Revenue: 103877000 Open source Operating Cash Flow: -42934000 Open source Capital Expenditure: 12620000 Open source
20212021-12-31	Free cash flow margin	-89.6%	Revenue: 104505000 Open source Operating Cash Flow: -80476000 Open source Capital Expenditure: 13158000 Open source
20222022-12-31	Free cash flow margin	-202.9%	Revenue: 81860000 Open source Operating Cash Flow: -132171000 Open source Capital Expenditure: 33932000 Open source
20232023-12-31	Free cash flow margin	-142.4%	Revenue: 102368000 Open source Operating Cash Flow: -104570000 Open source Capital Expenditure: 41214000 Open source
20242024-12-31	Free cash flow margin	-192.1%	Revenue: 69731000 Open source Operating Cash Flow: -108099000 Open source Capital Expenditure: 25849000 Open source
20252025-12-31	Free cash flow margin	-66.4%	Revenue: 99370000 Open source Operating Cash Flow: -56167000 Open source Capital Expenditure: 9844000 Open source

Operating cash flow

Cash generated by the company’s normal business operations.

USD -56.2M 2025

Values and sources

Operating cash flow values and source evidence
Period	Series	Value(USD)	Source evidence
20162016-12-31	Operating cash flow	-3904000	Operating Cash Flow: -3904000 Open source
20172017-12-31	Operating cash flow	-9768000	Operating Cash Flow: -9768000 Open source
20182018-12-31	Operating cash flow	-31688000	Operating Cash Flow: -31688000 Open source
20192019-12-31	Operating cash flow	-14230000	Operating Cash Flow: -14230000 Open source
20202020-12-31	Operating cash flow	-42934000	Operating Cash Flow: -42934000 Open source
20212021-12-31	Operating cash flow	-80476000	Operating Cash Flow: -80476000 Open source
20222022-12-31	Operating cash flow	-132171000	Operating Cash Flow: -132171000 Open source
20232023-12-31	Operating cash flow	-104570000	Operating Cash Flow: -104570000 Open source
20242024-12-31	Operating cash flow	-108099000	Operating Cash Flow: -108099000 Open source
20252025-12-31	Operating cash flow	-56167000	Operating Cash Flow: -56167000 Open source

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD -66M 2025

Values and sources

Free cash flow values and source evidence
Period	Series	Value(USD)	Source evidence
20162016-12-31	Free cash flow	-6682000	Operating Cash Flow: -3904000 Open source Capital Expenditure: 2778000 Open source
20172017-12-31	Free cash flow	-12836000	Operating Cash Flow: -9768000 Open source Capital Expenditure: 3068000 Open source
20182018-12-31	Free cash flow	-41542000	Operating Cash Flow: -31688000 Open source Capital Expenditure: 9854000 Open source
20192019-12-31	Free cash flow	-28164000	Operating Cash Flow: -14230000 Open source Capital Expenditure: 13934000 Open source
20202020-12-31	Free cash flow	-55554000	Operating Cash Flow: -42934000 Open source Capital Expenditure: 12620000 Open source
20212021-12-31	Free cash flow	-93634000	Operating Cash Flow: -80476000 Open source Capital Expenditure: 13158000 Open source
20222022-12-31	Free cash flow	-166103000	Operating Cash Flow: -132171000 Open source Capital Expenditure: 33932000 Open source
20232023-12-31	Free cash flow	-145784000	Operating Cash Flow: -104570000 Open source Capital Expenditure: 41214000 Open source
20242024-12-31	Free cash flow	-133948000	Operating Cash Flow: -108099000 Open source Capital Expenditure: 25849000 Open source
20252025-12-31	Free cash flow	-66011000	Operating Cash Flow: -56167000 Open source Capital Expenditure: 9844000 Open source

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

13.5% 2025

Values and sources

Liabilities to assets values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Liabilities / assets	33.7%	Total Liabilities: 61903000 Open source Total Assets: 183446000 Open source
20172017-12-31	Liabilities / assets	32.5%	Total Liabilities: 57802000 Open source Total Assets: 177657000 Open source
20182018-12-31	Liabilities / assets	18.3%	Total Liabilities: 63500000 Open source Total Assets: 346100000 Open source
20192019-12-31	Liabilities / assets	26.5%	Total Liabilities: 90056000 Open source Total Assets: 340319000 Open source
20202020-12-31	Liabilities / assets	7.7%	Total Liabilities: 74712000 Open source Total Assets: 975599000 Open source
20212021-12-31	Liabilities / assets	7.8%	Total Liabilities: 112726000 Open source Total Assets: 1440943000 Open source
20222022-12-31	Liabilities / assets	7.1%	Total Liabilities: 88166000 Open source Total Assets: 1247077000 Open source
20232023-12-31	Liabilities / assets	8%	Total Liabilities: 86326000 Open source Total Assets: 1077542000 Open source
20242024-12-31	Liabilities / assets	13.4%	Total Liabilities: 104317000 Open source Total Assets: 777307000 Open source
20252025-12-31	Liabilities / assets	13.5%	Total Liabilities: 92458000 Open source Total Assets: 682388000 Open source

Current assets to current liabilities

Current assets divided by current liabilities.

9.86× 2025

Values and sources

Current assets to current liabilities values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Current assets / current liabilities	2.5×	Current Assets: 107753000 Open source Current Liabilities: 43046000 Open source
20172017-12-31	Current assets / current liabilities	2.61×	Current Assets: 102802000 Open source Current Liabilities: 39424000 Open source
20182018-12-31	Current assets / current liabilities	5.48×	Current Assets: 261593000 Open source Current Liabilities: 47709000 Open source
20192019-12-31	Current assets / current liabilities	3.56×	Current Assets: 229526000 Open source Current Liabilities: 64516000 Open source
20202020-12-31	Current assets / current liabilities	16.4×	Current Assets: 854315000 Open source Current Liabilities: 52091000 Open source
20212021-12-31	Current assets / current liabilities	14.78×	Current Assets: 1229186000 Open source Current Liabilities: 83159000 Open source
20222022-12-31	Current assets / current liabilities	14.06×	Current Assets: 1028507000 Open source Current Liabilities: 73168000 Open source
20232023-12-31	Current assets / current liabilities	12.25×	Current Assets: 864741000 Open source Current Liabilities: 70586000 Open source
20242024-12-31	Current assets / current liabilities	9.25×	Current Assets: 698878000 Open source Current Liabilities: 75586000 Open source
20252025-12-31	Current assets / current liabilities	9.86×	Current Assets: 601433000 Open source Current Liabilities: 60994000 Open source

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
Period	Net income	Operating cash flow	Capital expenditure	Free cash flow
2016 2016-01-01 – 2016-12-31	−USD 21.11 million Exact value Exact value: -21112000 USD 2016-01-01 – 2016-12-31: -21112000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Ballard Power Systems Inc. · 2016-12-31 Ballard Power Systems Inc. (edgar:1453015) Net Income: -21112000 USD Concept: fundies:NetIncome Period: 2016-01-01 to 2016-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ANetIncome&period=2016-12-31&surface=latest&period_type=duration&start=2016-01-01&unit=USD&dimensions= Input fundies:NetIncome: -21112000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301518000005/bldp-20171231.xml#570508 Filing: 000145301518000005 The citation records this snapshot. The page link may show a newer release later.	−USD 3.9 million Exact value Exact value: -3904000 USD 2016-01-01 – 2016-12-31: -3904000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2016-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -3904000 USD Concept: fundies:OperatingCashFlow Period: 2016-01-01 to 2016-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2016-12-31&surface=latest&period_type=duration&start=2016-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -3904000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301518000005/bldp-20171231.xml#355170 Filing: 000145301518000005 The citation records this snapshot. The page link may show a newer release later.	USD 2.78 million Exact value Exact value: 2778000 USD 2016-01-01 – 2016-12-31: 2778000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2016-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 2778000 USD Concept: fundies:CapitalExpenditure Period: 2016-01-01 to 2016-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2016-12-31&surface=latest&period_type=duration&start=2016-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 2778000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301518000005/bldp-20171231.xml#602120 Filing: 000145301518000005 The citation records this snapshot. The page link may show a newer release later.	−USD 6.68 million Calculation and evidence -3904000 − 2778000 USD Exact free cash flow: -6682000 USD 2016-01-01 – 2016-12-31: -3904000 USD · Inspect Operating Cash Flow · Source 2016-01-01 – 2016-12-31: 2778000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2016-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -6682000 USD Concept: free-cash-flow Period: 2016-01-01 to 2016-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -3904000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301518000005/bldp-20171231.xml#355170 Filing: 000145301518000005 Input fundies:CapitalExpenditure: 2778000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301518000005/bldp-20171231.xml#602120 Filing: 000145301518000005 The citation records this snapshot. The page link may show a newer release later.
2017 2017-01-01 – 2017-12-31	−USD 8.05 million Exact value Exact value: -8048000 USD 2017-01-01 – 2017-12-31: -8048000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Ballard Power Systems Inc. · 2017-12-31 Ballard Power Systems Inc. (edgar:1453015) Net Income: -8048000 USD Concept: fundies:NetIncome Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ANetIncome&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=USD&dimensions= Input fundies:NetIncome: -8048000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301518000005/bldp-20171231.xml#570716 Filing: 000145301518000005 The citation records this snapshot. The page link may show a newer release later.	−USD 9.77 million Exact value Exact value: -9768000 USD 2017-01-01 – 2017-12-31: -9768000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2017-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -9768000 USD Concept: fundies:OperatingCashFlow Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -9768000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301519000005/bldp-20181231.xml#372041 Filing: 000145301519000005 The citation records this snapshot. The page link may show a newer release later.	USD 3.07 million Exact value Exact value: 3068000 USD 2017-01-01 – 2017-12-31: 3068000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2017-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 3068000 USD Concept: fundies:CapitalExpenditure Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 3068000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301519000005/bldp-20181231.xml#612338 Filing: 000145301519000005 The citation records this snapshot. The page link may show a newer release later.	−USD 12.84 million Calculation and evidence -9768000 − 3068000 USD Exact free cash flow: -12836000 USD 2017-01-01 – 2017-12-31: -9768000 USD · Inspect Operating Cash Flow · Source 2017-01-01 – 2017-12-31: 3068000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2017-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -12836000 USD Concept: free-cash-flow Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -9768000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301519000005/bldp-20181231.xml#372041 Filing: 000145301519000005 Input fundies:CapitalExpenditure: 3068000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301519000005/bldp-20181231.xml#612338 Filing: 000145301519000005 The citation records this snapshot. The page link may show a newer release later.
2018 2018-01-01 – 2018-12-31	Unavailable Not reported for this period.	−USD 31.69 million Exact value Exact value: -31688000 USD 2018-01-01 – 2018-12-31: -31688000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2018-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -31688000 USD Concept: fundies:OperatingCashFlow Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -31688000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301520000010/bldp-20191231_d2_htm.xml#403239 Filing: 000145301520000010 The citation records this snapshot. The page link may show a newer release later.	USD 9.85 million Exact value Exact value: 9854000 USD 2018-01-01 – 2018-12-31: 9854000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2018-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 9854000 USD Concept: fundies:CapitalExpenditure Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 9854000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301520000010/bldp-20191231_d2_htm.xml#1685799 Filing: 000145301520000010 The citation records this snapshot. The page link may show a newer release later.	−USD 41.54 million Calculation and evidence -31688000 − 9854000 USD Exact free cash flow: -41542000 USD 2018-01-01 – 2018-12-31: -31688000 USD · Inspect Operating Cash Flow · Source 2018-01-01 – 2018-12-31: 9854000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2018-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -41542000 USD Concept: free-cash-flow Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -31688000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301520000010/bldp-20191231_d2_htm.xml#403239 Filing: 000145301520000010 Input fundies:CapitalExpenditure: 9854000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301520000010/bldp-20191231_d2_htm.xml#1685799 Filing: 000145301520000010 The citation records this snapshot. The page link may show a newer release later.
2019 2019-01-01 – 2019-12-31	Unavailable Not reported for this period.	−USD 14.23 million Exact value Exact value: -14230000 USD 2019-01-01 – 2019-12-31: -14230000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2019-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -14230000 USD Concept: fundies:OperatingCashFlow Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -14230000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301521000012/bldp-20201231_d2_htm.xml#394994 Filing: 000145301521000012 The citation records this snapshot. The page link may show a newer release later.	USD 13.93 million Exact value Exact value: 13934000 USD 2019-01-01 – 2019-12-31: 13934000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2019-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 13934000 USD Concept: fundies:CapitalExpenditure Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 13934000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301521000012/bldp-20201231_d2_htm.xml#397575 Filing: 000145301521000012 The citation records this snapshot. The page link may show a newer release later.	−USD 28.16 million Calculation and evidence -14230000 − 13934000 USD Exact free cash flow: -28164000 USD 2019-01-01 – 2019-12-31: -14230000 USD · Inspect Operating Cash Flow · Source 2019-01-01 – 2019-12-31: 13934000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2019-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -28164000 USD Concept: free-cash-flow Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -14230000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301521000012/bldp-20201231_d2_htm.xml#394994 Filing: 000145301521000012 Input fundies:CapitalExpenditure: 13934000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301521000012/bldp-20201231_d2_htm.xml#397575 Filing: 000145301521000012 The citation records this snapshot. The page link may show a newer release later.
2020 2020-01-01 – 2020-12-31	Unavailable Not reported for this period.	−USD 42.93 million Exact value Exact value: -42934000 USD 2020-01-01 – 2020-12-31: -42934000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2020-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -42934000 USD Concept: fundies:OperatingCashFlow Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -42934000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301521000012/bldp-20201231_d2_htm.xml#394419 Filing: 000145301521000012 The citation records this snapshot. The page link may show a newer release later.	USD 12.62 million Exact value Exact value: 12620000 USD 2020-01-01 – 2020-12-31: 12620000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2020-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 12620000 USD Concept: fundies:CapitalExpenditure Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 12620000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301521000012/bldp-20201231_d2_htm.xml#396945 Filing: 000145301521000012 The citation records this snapshot. The page link may show a newer release later.	−USD 55.55 million Calculation and evidence -42934000 − 12620000 USD Exact free cash flow: -55554000 USD 2020-01-01 – 2020-12-31: -42934000 USD · Inspect Operating Cash Flow · Source 2020-01-01 – 2020-12-31: 12620000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2020-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -55554000 USD Concept: free-cash-flow Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -42934000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301521000012/bldp-20201231_d2_htm.xml#394419 Filing: 000145301521000012 Input fundies:CapitalExpenditure: 12620000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301521000012/bldp-20201231_d2_htm.xml#396945 Filing: 000145301521000012 The citation records this snapshot. The page link may show a newer release later.
2021 2021-01-01 – 2021-12-31	Unavailable Not reported for this period.	−USD 80.48 million Exact value Exact value: -80476000 USD 2021-01-01 – 2021-12-31: -80476000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2021-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -80476000 USD Concept: fundies:OperatingCashFlow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -80476000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301523000008/bldp-20221231.htm#586540 Filing: 000145301523000008 The citation records this snapshot. The page link may show a newer release later.	USD 13.16 million Exact value Exact value: 13158000 USD 2021-01-01 – 2021-12-31: 13158000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2021-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 13158000 USD Concept: fundies:CapitalExpenditure Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 13158000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301523000008/bldp-20221231.htm#592646 Filing: 000145301523000008 The citation records this snapshot. The page link may show a newer release later.	−USD 93.63 million Calculation and evidence -80476000 − 13158000 USD Exact free cash flow: -93634000 USD 2021-01-01 – 2021-12-31: -80476000 USD · Inspect Operating Cash Flow · Source 2021-01-01 – 2021-12-31: 13158000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2021-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -93634000 USD Concept: free-cash-flow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -80476000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301523000008/bldp-20221231.htm#586540 Filing: 000145301523000008 Input fundies:CapitalExpenditure: 13158000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301523000008/bldp-20221231.htm#592646 Filing: 000145301523000008 The citation records this snapshot. The page link may show a newer release later.
2022 2022-01-01 – 2022-12-31	Unavailable Not reported for this period.	−USD 132.17 million Exact value Exact value: -132171000 USD 2022-01-01 – 2022-12-31: -132171000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2022-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -132171000 USD Concept: fundies:OperatingCashFlow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -132171000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301524000002/bldp-20231231_d2_htm.xml#347794 Filing: 000145301524000002 The citation records this snapshot. The page link may show a newer release later.	USD 33.93 million Exact value Exact value: 33932000 USD 2022-01-01 – 2022-12-31: 33932000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2022-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 33932000 USD Concept: fundies:CapitalExpenditure Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 33932000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301524000002/bldp-20231231_d2_htm.xml#349440 Filing: 000145301524000002 The citation records this snapshot. The page link may show a newer release later.	−USD 166.1 million Calculation and evidence -132171000 − 33932000 USD Exact free cash flow: -166103000 USD 2022-01-01 – 2022-12-31: -132171000 USD · Inspect Operating Cash Flow · Source 2022-01-01 – 2022-12-31: 33932000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2022-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -166103000 USD Concept: free-cash-flow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -132171000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301524000002/bldp-20231231_d2_htm.xml#347794 Filing: 000145301524000002 Input fundies:CapitalExpenditure: 33932000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301524000002/bldp-20231231_d2_htm.xml#349440 Filing: 000145301524000002 The citation records this snapshot. The page link may show a newer release later.
2023 2023-01-01 – 2023-12-31	Unavailable Not reported for this period.	−USD 104.57 million Exact value Exact value: -104570000 USD 2023-01-01 – 2023-12-31: -104570000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2023-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -104570000 USD Concept: fundies:OperatingCashFlow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -104570000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301524000002/bldp-20231231_d2_htm.xml#347622 Filing: 000145301524000002 The citation records this snapshot. The page link may show a newer release later.	USD 41.21 million Exact value Exact value: 41214000 USD 2023-01-01 – 2023-12-31: 41214000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2023-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 41214000 USD Concept: fundies:CapitalExpenditure Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 41214000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301524000002/bldp-20231231_d2_htm.xml#349214 Filing: 000145301524000002 The citation records this snapshot. The page link may show a newer release later.	−USD 145.78 million Calculation and evidence -104570000 − 41214000 USD Exact free cash flow: -145784000 USD 2023-01-01 – 2023-12-31: -104570000 USD · Inspect Operating Cash Flow · Source 2023-01-01 – 2023-12-31: 41214000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2023-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -145784000 USD Concept: free-cash-flow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -104570000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301524000002/bldp-20231231_d2_htm.xml#347622 Filing: 000145301524000002 Input fundies:CapitalExpenditure: 41214000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000145301524000002/bldp-20231231_d2_htm.xml#349214 Filing: 000145301524000002 The citation records this snapshot. The page link may show a newer release later.
2024 2024-01-01 – 2024-12-31	Unavailable Not reported for this period.	−USD 108.1 million Exact value Exact value: -108099000 USD 2024-01-01 – 2024-12-31: -108099000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2024-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -108099000 USD Concept: fundies:OperatingCashFlow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -108099000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#299275 Filing: 000162828026017045 The citation records this snapshot. The page link may show a newer release later.	USD 25.85 million Exact value Exact value: 25849000 USD 2024-01-01 – 2024-12-31: 25849000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2024-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 25849000 USD Concept: fundies:CapitalExpenditure Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 25849000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#300424 Filing: 000162828026017045 The citation records this snapshot. The page link may show a newer release later.	−USD 133.95 million Calculation and evidence -108099000 − 25849000 USD Exact free cash flow: -133948000 USD 2024-01-01 – 2024-12-31: -108099000 USD · Inspect Operating Cash Flow · Source 2024-01-01 – 2024-12-31: 25849000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2024-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -133948000 USD Concept: free-cash-flow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -108099000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#299275 Filing: 000162828026017045 Input fundies:CapitalExpenditure: 25849000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#300424 Filing: 000162828026017045 The citation records this snapshot. The page link may show a newer release later.
2025 2025-01-01 – 2025-12-31	Unavailable Not reported for this period.	−USD 56.17 million Exact value Exact value: -56167000 USD 2025-01-01 – 2025-12-31: -56167000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Ballard Power Systems Inc. · 2025-12-31 Ballard Power Systems Inc. (edgar:1453015) Operating Cash Flow: -56167000 USD Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3AOperatingCashFlow&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -56167000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#299104 Filing: 000162828026017045 The citation records this snapshot. The page link may show a newer release later.	USD 9.84 million Exact value Exact value: 9844000 USD 2025-01-01 – 2025-12-31: 9844000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Ballard Power Systems Inc. · 2025-12-31 Ballard Power Systems Inc. (edgar:1453015) Capital Expenditure: 9844000 USD Concept: fundies:CapitalExpenditure Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015/explain?concept=fundies%3ACapitalExpenditure&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 9844000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#300199 Filing: 000162828026017045 The citation records this snapshot. The page link may show a newer release later.	−USD 66.01 million Calculation and evidence -56167000 − 9844000 USD Exact free cash flow: -66011000 USD 2025-01-01 – 2025-12-31: -56167000 USD · Inspect Operating Cash Flow · Source 2025-01-01 – 2025-12-31: 9844000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Ballard Power Systems Inc. · 2025-12-31 Ballard Power Systems Inc. (edgar:1453015) Free cash flow: -66011000 USD Concept: free-cash-flow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T21:26:55Z Snapshot: b7b8b434dfac86baae729e72797c53ac6fad782d5df1145ec1bd1d579a889339 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1453015?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -56167000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#299104 Filing: 000162828026017045 Input fundies:CapitalExpenditure: 9844000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1453015/000162828026017045/bldp-20251231_d2_htm.xml#300199 Filing: 000162828026017045 The citation records this snapshot. The page link may show a newer release later.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

753 filings · 508 latest values · 508 originally reported values

Dataset published 2026-11-02. Source filing dates and reporting periods are shown separately.

Identifiers: 0001453015, 1453015, BLDP, edgar:1453015

Also known as 7076991 Canada Inc., Ballard Power Systems Inc., Ballard Power Systems Inc.

Ballard Power Systems Inc.

Latest fiscal year

Revenue

Operating margin

Operating cash flow

Free cash flow

Company performance

What changed year over year

Revenue

Operating cash flow

Capital expenditure

Where revenue goes

2025 2025-01-01 – 2025-12-31

Cash

Share of revenue by period

Growth

Profit and cash

Balance sheet

Cash generation