Company Valuation: Ballard Power Systems Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,738 1,429 1,111 497.4 767.7 899.2 - -
Change - -61.78% -22.26% -55.22% 54.35% 17.13% - -
Enterprise Value (EV) 1 2,631 530.6 377.4 -82.7 262.8 320.6 228.7 240.1
Change - -79.83% -28.87% -121.91% 417.75% 22.02% -28.68% 5%
P/E -32.2x -8.25x -6.3x -1.54x -8.51x -17.6x -18.1x -22.8x
PBR 2.81x 1.23x 1.12x 0.74x 1.3x 1.66x 1.78x 1.88x
PEG - -0.2x -3.65x -0x 0.1x 0.4x 6.54x 1.1x
Capitalization / Revenue 35.8x 17.1x 10.8x 7.13x 7.72x 7.31x 5.97x 5.67x
EV / Revenue 25.2x 6.33x 3.69x -1.19x 2.64x 2.61x 1.52x 1.51x
EV / EBITDA -32x -3.68x -2.51x 0.49x -2.6x -6.82x -5.63x -10x
EV / EBIT -29.9x -3.34x -2.32x 0.45x -2.54x -5.75x -4.39x -6.64x
EV / FCF -28.1x -3.19x -2.59x 0.62x -3.98x -5.38x -4.65x -5.29x
FCF Yield -3.56% -31.3% -38.6% 162% -25.1% -18.6% -21.5% -18.9%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.39 -0.58 -0.59 -1.08 -0.3 -0.1698 -0.1652 -0.1308
Distribution rate - - - - - - - -
Net sales 1 104.5 83.79 102.4 69.73 99.4 123 150.6 158.5
EBITDA 1 -82.19 -144 -150.1 -168.1 -100.9 -47 -40.58 -24.01
EBIT 1 -88.1 -158.9 -162.9 -183.3 -103.5 -55.79 -52.05 -36.14
Net income 1 -114.4 -173.5 -177.7 -324.2 -90.91 -51.07 -49.56 -37.8
Net Debt 1 -1,107 -898 -733.2 -580.1 -504.9 -578.6 -670.5 -659.1
Reference price 2 12.556 4.788 3.718 1.661 2.553 2.983 2.983 2.983
Nbr of stocks (in thousands) 297,688 298,375 298,720 299,421 300,739 301,476 - -
Announcement Date 12/03/22 17/03/23 11/03/24 13/03/25 12/03/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-17.56x2.61x-6.82x-.--% 899M
-6.2x4.7x-16.34x-.--% 3.08B
-70.64x6.36x8390.85x-.--% 2.03B
-7.51x8.6x-24.69x-.--% 1.62B
-56.61x12.66x983.23x-.--% 1.12B
22.18x1.68x9.07x-.--% 395M
-7.16x56.54x-8.62x - 171M
Average -20.50x 13.31x 1,332.38x 0% 1.33B
Weighted average by Cap. -26.43x 7.32x 1,934.19x 0%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation Ballard Power Systems Inc.