A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Ballard Power Systems's Debt-to-Equity or its related term are showing as below:
XSWX:BLDP'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.01 Med: 0.04 Max: 0.08
Current: 0.04
During the past 13 years, the highest Debt-to-Equity Ratio of Ballard Power Systems was 0.08. The lowest was 0.01. And the median was 0.04.
XSWX:BLDP's Debt-to-Equity is ranked better than 86.35% of 2681
companies
in the Industrial Products industry
Industry Median: 0.28
vs XSWX:BLDP: 0.04
Ballard Power Systems (XSWX:BLDP) Debt-to-Equity Explanation
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Ballard Power Systems Debt-to-Equity Related Terms
Ballard Power Systems Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Ballard Power Systems's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Electrical Equipment & Parts subindustry, Ballard Power Systems's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ballard Power Systems Debt-to-Equity vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Ballard Power Systems's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Ballard Power Systems's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Ballard Power Systems (XSWX:BLDP) has a Debt-to-Equity of 0.04 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Ballard Power Systems and its competitors. This is near median its historical median of 0.04. Over the past decade, Ballard Power Systems' Debt-to-Equity has ranged from 0.01 to 0.08. According to the industry distribution chart, Ballard Power Systems ranks #366 out of 2681 companies in the Industrial Products industry, placing it in the top 13.7%.
Is Ballard Power Systems' Debt-to-Equity too high?
Ballard Power Systems' current Debt-to-Equity of 0.04 is near median its 10-year median of 0.04. Over the past 10 years, this metric has ranged from a low of 0.01 to a high of 0.08. The Industrial Products industry median Debt-to-Equity is 0.28. Ballard Power Systems' value of 0.04 is 85.7% below this industry median. Based on the distribution chart, Ballard Power Systems ranks #366 out of 2681 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Ballard Power Systems has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Ballard Power Systems' Debt-to-Equity compare to VRT and BE?
According to the Industrial Products industry distribution chart, Ballard Power Systems ranks #366 out of 2681 companies for Debt-to-Equity. This places Ballard Power Systems in the top 14% of its industry — outperforming the majority of peers. The industry median Debt-to-Equity is 0.28. Ballard Power Systems' value of 0.04 is 85.7% below this benchmark. Historically, Ballard Power Systems' own Debt-to-Equity has ranged from 0.01 to 0.08 over the past decade. While the company's 10-year median is 0.04 vs. the industry median of 0.28, Ballard Power Systems has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for an Industrial Products company?
The median Debt-to-Equity among Industrial Products companies is 0.28, based on 2,681 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ballard Power Systems's current Debt-to-Equity of 0.04 is 85.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Ballard Power Systems and its competitors. For the Industrial Products industry, the median Debt-to-Equity is 0.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ballard Power Systems's current Debt-to-Equity is 0.04, which is near median its own 10-year median of 0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ballard Power Systems stock overvalued right now?
Ballard Power Systems (XSWX:BLDP) has a current Debt-to-Equity of 0.04. The stock's GF Value™ is CHF2.40, compared to a current price of CHF2.51 — trading 4.5% above its estimated fair value. The current Debt-to-Equity is 0.04, which is near median its 10-year median of 0.04 and 85.7% below the Industrial Products industry median of 0.28. Ballard Power Systems' overall GF Score™ is 74/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Ballard Power Systems (XSWX:BLDP), the current Debt-to-Equity is 0.04 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Ballard Power Systems (XSWX:BLDP) Overvalued in 2026?
Based on GuruFocus' analysis, Ballard Power Systems stock appears to be overvalued.
The current stock price of CHF2.51 is trading 4.5% above its estimated GF Value™ of CHF2.40.
Key valuation signals for XSWX:BLDP:
Debt-to-Equity: 0.04 (near median its 10-year median of 0.04)
GF Value™: CHF2.40 vs. price of CHF2.51 (4.5% above fair value)
Industry Position: 85.7% below the Industrial Products median (#366 of 2681)
No single metric tells the full story. See the XSWX:BLDP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ballard Power Systems Inc is engaged in design, development, manufacture, sale and service of proton exchange membrane ("PEM") fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, as well as the delivery of services, including technology solutions, after sales services and training. A fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. Key geographical revenue is derived from United States followed by Poland, Canada, and other countries.
74GF Score
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