Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Ballard Power Systems

DB:PO0
Snowflake Description

Excellent balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PO0
DB
CA$3B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products. The last earnings update was 26 days ago. More info.


Add to Portfolio Compare Print
  • Ballard Power Systems has significant price volatility in the past 3 months.
PO0 Share Price and Events
7 Day Returns
-9.6%
DB:PO0
9.2%
DE Electrical
9.9%
DE Market
1 Year Returns
152.8%
DB:PO0
-8.2%
DE Electrical
-17.5%
DE Market
PO0 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ballard Power Systems (PO0) -9.6% -14.6% 8.3% 152.8% 222.1% 218%
DE Electrical 9.2% -20.6% -35.2% -8.2% -43.7% -44.1%
DE Market 9.9% -16.6% -24.8% -17.5% -24.5% -28.1%
1 Year Return vs Industry and Market
  • PO0 outperformed the Electrical industry which returned -8.2% over the past year.
  • PO0 outperformed the Market in Germany which returned -17.5% over the past year.
Price Volatility
PO0
Industry
5yr Volatility vs Market

Value

 Is Ballard Power Systems undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ballard Power Systems to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ballard Power Systems.

DB:PO0 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:PO0
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.118 (1 + (1- 26.5%) (1.11%))
1.085
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.085 * 5.44%)
5.51%

Discounted Cash Flow Calculation for DB:PO0 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ballard Power Systems is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:PO0 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.51%)
2020 -39.85 Analyst x3 -37.76
2021 -11.48 Analyst x3 -10.31
2022 4.10 Analyst x3 3.49
2023 86.00 Analyst x1 69.38
2024 177.00 Analyst x1 135.33
2025 255.51 Est @ 44.35% 185.15
2026 334.53 Est @ 30.93% 229.75
2027 406.57 Est @ 21.53% 264.63
2028 467.39 Est @ 14.96% 288.31
2029 515.77 Est @ 10.35% 301.53
Present value of next 10 years cash flows $1,429.00
DB:PO0 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $515.77 × (1 + -0.39%) ÷ (5.51% – -0.39%)
$8,700.81
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $8,700.81 ÷ (1 + 5.51%)10
$5,086.60
DB:PO0 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,429.00 + $5,086.60
$6,515.60
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,515.60 / 235.10
$27.71
DB:PO0 Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:BLDP)
1.414
Value per Share
(CAD)
= Value per Share in USD x Exchange Rate (USD/CAD)
= $27.71 x 1.414
CA$39.19
Non-primary Listing Adjustment Factor 1 share in DB:PO0 represents 0.64911x of TSX:BLDP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.64911x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 39.19 x 0.64911
€25.44
Value per share (EUR) From above. €25.44
Current discount Discount to share price of €6.93
= -1 x (€6.93 - €25.44) / €25.44
72.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Ballard Power Systems is available for.
Intrinsic value
>50%
Share price is €6.93 vs Future cash flow value of €25.44
Current Discount Checks
For Ballard Power Systems to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ballard Power Systems's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Ballard Power Systems's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ballard Power Systems's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ballard Power Systems's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PO0 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-0.17
TSX:BLDP Share Price ** TSX (2020-03-31) in CAD CA$10.67
TSX:BLDP Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.707 $7.55
Germany Electrical Industry PE Ratio Median Figure of 6 Publicly-Listed Electrical Companies 22.57x
Germany Market PE Ratio Median Figure of 399 Publicly-Listed Companies 16.31x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ballard Power Systems.

DB:PO0 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:BLDP Share Price ÷ EPS (both in USD)

= 7.55 ÷ -0.17

-44.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ballard Power Systems is loss making, we can't compare its value to the DE Electrical industry average.
  • Ballard Power Systems is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Ballard Power Systems's expected growth come at a high price?
Raw Data
DB:PO0 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -44.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
53.7%per year
Germany Electrical Industry PEG Ratio Median Figure of 5 Publicly-Listed Electrical Companies 1x
Germany Market PEG Ratio Median Figure of 255 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Ballard Power Systems, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ballard Power Systems's assets?
Raw Data
DB:PO0 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $1.07
TSX:BLDP Share Price * TSX (2020-03-31) in CAD CA$10.67
TSX:BLDP Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.707 $7.55
Germany Electrical Industry PB Ratio Median Figure of 14 Publicly-Listed Electrical Companies 1.69x
Germany Market PB Ratio Median Figure of 571 Publicly-Listed Companies 1.43x
DB:PO0 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:BLDP Share Price ÷ Book Value per Share (both in USD)

= 7.55 ÷ 1.07

7.07x

* Primary Listing of Ballard Power Systems.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ballard Power Systems is overvalued based on assets compared to the DE Electrical industry average.
X
Value checks
We assess Ballard Power Systems's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electrical industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electrical industry average (and greater than 0)? (1 check)
  5. Ballard Power Systems has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Ballard Power Systems expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
53.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ballard Power Systems expected to grow at an attractive rate?
  • Ballard Power Systems's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Ballard Power Systems's earnings growth is expected to exceed the Germany market average.
  • Ballard Power Systems's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PO0 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PO0 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 53.7%
DB:PO0 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 27.3%
Germany Electrical Industry Earnings Growth Rate Market Cap Weighted Average 69.2%
Germany Electrical Industry Revenue Growth Rate Market Cap Weighted Average 12.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:PO0 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PO0 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 481 76 151 2
2023-12-31 324 17 77 2
2022-12-31 206 -3 4 3
2021-12-31 169 -18 -18 4
2020-12-31 131 -33 -33 5
2020-03-31
DB:PO0 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 106 -14 -39
2019-09-30 93 -18 -40
2019-06-30 90 -16 -36
2019-03-31 93 -35 -34
2018-12-31 97 -32 -27
2018-09-30 108 -33 -19
2018-06-30 119 -33 -14
2018-03-31 119 -14 -11
2017-12-31 121 -10 -8
2017-09-30 112 -1 -6
2017-06-30 100 6 -9
2017-03-31 92 0 -14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ballard Power Systems's earnings are expected to grow significantly at over 20% yearly.
  • Ballard Power Systems's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:PO0 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Ballard Power Systems Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PO0 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.63 0.63 0.63 1.00
2023-12-31 0.32 0.32 0.32 1.00
2022-12-31 0.02 0.12 -0.04 3.00
2021-12-31 -0.07 0.01 -0.12 3.00
2020-12-31 -0.14 -0.08 -0.18 4.00
2020-03-31
DB:PO0 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -0.17
2019-09-30 -0.18
2019-06-30 -0.17
2019-03-31 -0.17
2018-12-31 -0.15
2018-09-30 -0.10
2018-06-30 -0.08
2018-03-31 -0.06
2017-12-31 -0.05
2017-09-30 -0.04
2017-06-30 -0.05
2017-03-31 -0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Ballard Power Systems will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Ballard Power Systems's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ballard Power Systems has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Ballard Power Systems performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ballard Power Systems's growth in the last year to its industry (Electrical).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ballard Power Systems does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Ballard Power Systems's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Ballard Power Systems's 1-year growth to the DE Electrical industry average as it is not currently profitable.
Earnings and Revenue History
Ballard Power Systems's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ballard Power Systems Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PO0 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 106.33 -39.05 21.46 26.93
2019-09-30 92.92 -40.25 21.45 23.98
2019-06-30 89.71 -36.50 21.25 24.56
2019-03-31 92.50 -33.85 22.12 26.13
2018-12-31 96.59 -27.32 23.17 27.04
2018-09-30 108.37 -18.73 21.91 28.40
2018-06-30 118.65 -13.74 22.18 27.34
2018-03-31 118.72 -10.61 21.42 25.69
2017-12-31 121.29 -8.05 20.90 25.02
2017-09-30 111.72 -6.28 20.54 21.55
2017-06-30 100.50 -9.44 20.25 20.72
2017-03-31 91.62 -14.05 19.96 20.70
2016-12-31 85.27 -21.11 20.39 19.83
2016-09-30 74.57 -21.35 20.31 18.97
2016-06-30 69.97 -21.29 19.45 18.13
2016-03-31 63.50 -22.83 19.49 16.76
2015-12-31 56.46 -5.82 18.31 16.21
2015-09-30 52.12 -21.93 17.29 17.26
2015-06-30 56.70 -20.21 17.41 16.46
2015-03-31 63.99 -17.33 17.67 16.15
2014-12-31 68.72 -28.19 17.90 14.29
2014-09-30 70.39 -13.00 18.64 13.37
2014-06-30 66.78 -15.15 18.63 14.32
2014-03-31 62.91 -15.89 18.52 14.84
2013-12-31 61.25 -19.99 18.43 17.11
2013-09-30 60.41 -34.77 19.29 18.21
2013-06-30 53.72 -39.38 18.51 18.64

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Ballard Power Systems has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Ballard Power Systems has efficiently used its assets last year compared to the DE Electrical industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Ballard Power Systems improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Ballard Power Systems's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electrical industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ballard Power Systems has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Ballard Power Systems's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ballard Power Systems's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ballard Power Systems is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ballard Power Systems's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ballard Power Systems's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Ballard Power Systems has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ballard Power Systems Company Filings, last reported 3 months ago.

DB:PO0 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 250.26 0.00 147.79
2019-09-30 257.52 0.00 153.36
2019-06-30 264.86 0.00 163.68
2019-03-31 270.48 0.00 164.97
2018-12-31 282.60 0.00 192.24
2018-09-30 109.38 0.00 23.15
2018-06-30 112.85 0.00 35.21
2018-03-31 115.43 0.00 52.52
2017-12-31 119.86 0.00 60.26
2017-09-30 120.94 0.00 60.06
2017-06-30 120.14 0.00 68.14
2017-03-31 119.27 0.00 67.98
2016-12-31 121.54 0.52 72.63
2016-09-30 121.62 0.55 68.15
2016-06-30 97.11 0.53 41.30
2016-03-31 102.15 0.54 44.29
2015-12-31 111.61 0.50 40.05
2015-09-30 90.32 0.51 49.15
2015-06-30 80.63 0.50 41.23
2015-03-31 87.38 0.47 47.63
2014-12-31 79.23 0.53 23.67
2014-09-30 100.24 0.54 32.70
2014-06-30 102.02 0.58 36.37
2014-03-31 84.20 0.57 41.55
2013-12-31 70.25 0.57 30.30
2013-09-30 52.66 6.74 20.43
2013-06-30 57.64 6.15 25.76
  • Ballard Power Systems has no debt.
  • Ballard Power Systems has no debt compared to 5 years ago when it was 0.7%.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Ballard Power Systems has sufficient cash runway for more than 3 years based on current free cash flow.
  • Unable to confirm if Ballard Power Systems has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Ballard Power Systems's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ballard Power Systems has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Ballard Power Systems's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Ballard Power Systems dividends.
If you bought €2,000 of Ballard Power Systems shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Ballard Power Systems's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Ballard Power Systems's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:PO0 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Germany Electrical Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.8%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:PO0 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-03-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Ballard Power Systems has not reported any payouts.
  • Unable to verify if Ballard Power Systems's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Ballard Power Systems's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Ballard Power Systems has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Ballard Power Systems's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ballard Power Systems afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ballard Power Systems has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Ballard Power Systems's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Randy MacEwen
COMPENSATION $1,977,602
AGE 50
TENURE AS CEO 5.4 years
CEO Bio

Mr. R. Randall MacEwen, also known as Randy, has been the Chief Executive Officer and President of Ballard Power Systems Inc. since October 6, 2014. Mr. MacEwen has extensive executive-level experience in the clean energy sector. He served as the Chief Executive Officer at SPARQ Systems Inc. since 2013 until 2014. He was the Founder and Managing Director of NextCleanTech LLC from 2010 to 2014. He served as the President, Director and Chief Executive Officer of Solar Integrated Technologies, Inc. from 2006 to 2009 and Executive Vice President of Corporate Development from 2005 to 2006. He served as Executive Vice President of Corporate Development at Stuart Energy Systems Corporation from 2001 to 2005. He served at Lawyer & Associate, Torys LLP from 1995 to 2001. In these roles, he has demonstrated an ability to clearly define strategy and focus, to deliver strong performance from his management teams and to drive growth and profitability in complex clean energy markets. He has been Non-Independent Director of Ballard Power Systems Inc. since October 6, 2014. He served as a Board Director of Solar Energy Industries Association from 2006 to 2009, National Hydrogen Association from 2002 to 2004 and Hydrogen & Fuel Cells Canada from 2002 to 2004. He received ‘Triumph Over Adversity’ Award – 2008 Investor All-Stars Awards in London, U.K and was Semi-Finalist – Ernst & Young 2008 Entrepreneur of the Year Award (Greater Los Angeles Area). He was admitted to Bar of the Law Society of Upper Canada in 1997. Mr. MacEwen received an Honours BA degree from York University in 1992 and a Bachelor of Law degree from the University of Western Ontario in 1995.

CEO Compensation
  • Randy's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Randy's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Ballard Power Systems management team in years:

3
Average Tenure
  • The tenure for the Ballard Power Systems management team is about average.
Management Team

Randy MacEwen

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
50
TENURE
5.4 yrs

Tony Guglielmin

TITLE
CFO & VP
COMPENSATION
$952K
TENURE
9.7 yrs

Kevin Colbow

TITLE
VP & CTO
COMPENSATION
$582K
TENURE
4 yrs

Rob Campbell

TITLE
VP & Chief Commercial Officer
COMPENSATION
$973K
TENURE
2.8 yrs

Jyoti Sidhu

TITLE
Vice President of Operations
TENURE
1.3 yrs

Guy McAree

TITLE
Director of Marketing & Investor Relations
AGE
62

Kerry Hillier

TITLE
General Counsel & Corporate Secretary

Jan Laishley

TITLE
Vice President of Human Resources
TENURE
1 yrs

Alfred Wong

TITLE
Managing Director of Asia Pacific
TENURE
3 yrs
Board of Directors Tenure

Average tenure and age of the Ballard Power Systems board of directors in years:

3
Average Tenure
56
Average Age
  • The tenure for the Ballard Power Systems board of directors is about average.
Board of Directors

Jim Roche

TITLE
Independent Non- Executive Chairman of the Board
COMPENSATION
$133K
AGE
56
TENURE
1.7 yrs

Randy MacEwen

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
50
TENURE
5.4 yrs

Doug Hayhurst

TITLE
Independent Corporate Director
COMPENSATION
$129K
AGE
72
TENURE
8.2 yrs

Janet Woodruff

TITLE
Independent Corporate Director
COMPENSATION
$116K
AGE
62
TENURE
2.8 yrs

Ian Sutcliffe

TITLE
Independent Corporate Director
COMPENSATION
$107K
AGE
66
TENURE
6.7 yrs

Marty Neese

TITLE
Independent Corporate Director
COMPENSATION
$92K
AGE
57
TENURE
4.3 yrs

Duy-Loan Le

TITLE
Independent Corporate Director
COMPENSATION
$90K
AGE
56
TENURE
3 yrs

Kevin Jiang

TITLE
Independent Director
AGE
54
TENURE
1.2 yrs

Sherman Sun

TITLE
Independent Director
AGE
53
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • Ballard Power Systems individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
25. Mar 20 Sell Jay Murray Individual 20. Mar 20 24. Mar 20 -4,000 €7.60 €-29,933
13. Mar 20 Sell Anthony Guglielmin Individual 09. Mar 20 10. Mar 20 -50,000 €8.33 €-401,803
13. Mar 20 Buy Anthony Guglielmin Individual 09. Mar 20 09. Mar 20 25,000 €7.50 €187,513
15. Nov 19 Sell Anthony Guglielmin Individual 12. Nov 19 15. Nov 19 -50,000 €6.17 €-295,293
23. Sep 19 Sell Jay Murray Individual 20. Sep 19 23. Sep 19 -2,500 €5.04 €-12,522
22. Sep 19 Sell R. MacEwen Individual 17. Sep 19 17. Sep 19 -154,702 €5.11 €-776,888
19. May 19 Sell Jay Murray Individual 15. May 19 15. May 19 -1,281 €3.44 €-4,407
X
Management checks
We assess Ballard Power Systems's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ballard Power Systems has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles (UAV), and material handling products. It also provides technology solutions comprising engineering services and technology transfer services, as well as licenses and sells intellectual property portfolio and fundamental knowledge for various fuel cell applications. The company serves transit bus, automotive, rail, truck, material handling, UAV, marine, and critical infrastructure markets. The company markets its products in China, Germany, the United States, Belgium, the United Kingdom, Japan, Denmark, Canada, Norway, Switzerland, France, Taiwan, the Netherlands, Finland, Spain, and internationally. Ballard Power Systems Inc. was founded in 1979 and is headquartered in Burnaby, Canada.

Details
Name: Ballard Power Systems Inc.
PO0
Exchange: DB
Founded: 1979
CA$1,612,571,504
235,096,567
Website: http://www.ballard.com
Address: Ballard Power Systems Inc.
9000 Glenlyon Parkway,
Burnaby,
British Columbia, V5J 5J8,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX BLDP Common Shares The Toronto Stock Exchange CA CAD 11. Aug 1993
NasdaqGM BLDP Common Shares Nasdaq Global Market US USD 11. Aug 1993
DB PO0 Common Shares Deutsche Boerse AG DE EUR 11. Aug 1993
LSE 0QY5 Common Shares London Stock Exchange GB CAD 11. Aug 1993
SWX BLD Common Shares SIX Swiss Exchange CH CHF 11. Aug 1993
Number of employees
Current staff
Staff numbers
703
Ballard Power Systems employees.
Industry
Electrical Components and Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 21:13
End of day share price update: 2020/03/31 00:00
Last estimates confirmation: 2020/03/26
Last earnings filing: 2020/03/05
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.