Ballard Power SystemsXSWX:BLDP 69 Altman Z-Score is 4.22 as of Jun. 24, 2026, which is 80% above its 10-year median of 2.35. GuruFocus rates XSWX:BLDP with a GF Score™ of 69/100 and a GF Value™ of CHF2.32. The stock has 3 warning signs investors should review. Among 3,013 Industrial Products companies, Ballard Power Systems ranks better than 69.73% on this metric.
The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Good Sign:
Altman Z-score of 5.33 is strong.
Ballard Power Systems has a Altman Z-Score of 4.22, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for Ballard Power Systems's Altman Z-Score or its related term are showing as below:
XSWX:BLDP'
s Altman Z-Score Range Over the Past 10 Years
Min: -7.95 Med: 2.35 Max: 58.27
Current: 5.33
During the past 13 years, Ballard Power Systems's highest Altman Z-Score was 58.27. The lowest was -7.95. And the median was 2.35.
Ballard Power Systems (XSWX:BLDP) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
Ballard Power Systems Altman Z-Score Related Terms
Ballard Power Systems Altman Z-Score Historical Data
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The historical data trend for Ballard Power Systems's Altman Z-Score 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 Altman Z-Score, along with its competitors' market caps and Altman Z-Score 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 Altman Z-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Ballard Power Systems's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where Ballard Power Systems's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
Ballard Power Systems (XSWX:BLDP) has a Altman Z-Score of 4.22 as of Jun. 24, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on Ballard Power Systems and its competitors. This is 80% above median its historical median of 2.35. According to the industry distribution chart, Ballard Power Systems ranks #912 out of 3013 companies in the Industrial Products industry, placing it in the top 30.3%.
Is Ballard Power Systems' Altman Z-Score too high?
Ballard Power Systems' current Altman Z-Score of 4.22 is 80% above median its 10-year median of 2.35. The Industrial Products industry median Altman Z-Score is 3.42. Ballard Power Systems' value of 4.22 is 23.4% above this industry median. Based on the distribution chart, Ballard Power Systems ranks #912 out of 3013 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Ballard Power Systems has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does Ballard Power Systems' Altman Z-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Ballard Power Systems ranks #912 out of 3013 companies for Altman Z-Score. This puts Ballard Power Systems in the upper half of its industry. The industry median Altman Z-Score is 3.42. Ballard Power Systems' value of 4.22 is 23.4% above this benchmark. While the company's 10-year median is 2.35 vs. the industry median of 3.42, Ballard Power Systems has consistently been above 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 Altman Z-Score for an Industrial Products company?
The median Altman Z-Score among Industrial Products companies is 3.42, based on 3,013 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ballard Power Systems's current Altman Z-Score of 4.22 is 23.4% above 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 Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on Ballard Power Systems and its competitors. For the Industrial Products industry, the median Altman Z-Score is 3.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ballard Power Systems's current Altman Z-Score is 4.22, which is 80% above median its own 10-year median of 2.35. 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 Altman Z-Score of 4.22. The stock's GF Value™ is CHF2.32, compared to a current price of CHF3.36 — trading 44.8% above its estimated fair value. The current Altman Z-Score is 4.22, which is 80% above median its 10-year median of 2.35 and 23.4% above the Industrial Products industry median of 3.42. Ballard Power Systems' overall GF Score™ is 69/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For Ballard Power Systems (XSWX:BLDP), the current Altman Z-Score is 4.22 as of Jun. 24, 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 CHF3.36 is trading 44.8% above its estimated GF Value™ of CHF2.32.
Key valuation signals for XSWX:BLDP:
Altman Z-Score: 4.22 (80% above median its 10-year median of 2.35)
GF Value™: CHF2.32 vs. price of CHF3.36 (44.8% above fair value)
Industry Position: 23.4% above the Industrial Products median (#912 of 3013)
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.
69GF Score
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