Ballard Power Systems Inc (BLDP) — Tangible Net Worth Ratio
Ballard Power Systems Inc (BLDP) has a Tangible Net Worth Ratio of 99.7% as of September 2025. This metric is calculated by deducting intangible assets (CA$1.55 Million) from net assets (CA$606.82 Million) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See BLDP working capital ratio to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Ballard Power Systems Inc Tangible Net Worth Ratio (1993–2024)
This chart shows how Ballard Power Systems Inc's Tangible Net Worth Ratio has changed across 32 annual periods from 1993 to 2024. As of September 2025, the ratio stands at 99.7%, reflecting net assets of CA$606.82 Million with intangible assets of CA$1.55 Million CAD. See BLDP cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Ballard Power Systems Inc (1993–2024)
The table below presents the year-by-year Tangible Net Worth Ratio for Ballard Power Systems Inc from 1993 to 2024, covering 32 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see BLDP stock market capitalisation.
| Year | Tangible NW Ratio | Net Assets (CAD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2024 | 99.7% | CA$672.99 Million | CA$1.76 Million | CA$777.31 Million | ▼ -0.1 pp |
| 2023 | 99.9% | CA$991.22 Million | CA$1.41 Million | CA$1.08 Billion | ▲ +0.3 pp |
| 2022 | 99.6% | CA$1.16 Billion | CA$5.21 Million | CA$1.25 Billion | ▲ +1.1 pp |
| 2021 | 98.4% | CA$1.33 Billion | CA$20.79 Million | CA$1.44 Billion | ▼ -1.1 pp |
| 2020 | 99.6% | CA$900.89 Million | CA$3.76 Million | CA$975.60 Million | ▲ +1.9 pp |
| 2019 | 97.7% | CA$250.26 Million | CA$5.69 Million | CA$340.32 Million | ▲ +0.7 pp |
| 2018 | 97.1% | CA$282.60 Million | CA$8.29 Million | CA$346.10 Million | ▲ +12.0 pp |
| 2017 | 85.0% | CA$119.86 Million | CA$17.95 Million | CA$177.66 Million | ▼ -0.1 pp |
| 2016 | 85.1% | CA$121.54 Million | CA$18.08 Million | CA$183.45 Million | ▼ -0.2 pp |
| 2015 | 85.4% | CA$111.61 Million | CA$16.33 Million | CA$161.33 Million | ▲ +15.9 pp |
| 2014 | 69.5% | CA$79.23 Million | CA$24.15 Million | CA$127.95 Million | ▼ -26.6 pp |
| 2013 | 96.1% | CA$70.25 Million | CA$2.72 Million | CA$120.21 Million | ▲ +3.4 pp |
| 2012 | 92.8% | CA$58.00 Million | CA$4.19 Million | CA$127.55 Million | ▼ -4.8 pp |
| 2011 | 97.6% | CA$92.34 Million | CA$2.25 Million | CA$165.29 Million | ▼ -0.1 pp |
| 2010 | 97.7% | CA$127.88 Million | CA$2.98 Million | CA$189.79 Million | ▼ -1.8 pp |
| 2009 | 99.5% | CA$158.92 Million | CA$824.00K | CA$195.35 Million | ▲ +1.8 pp |
| 2008 | 97.7% | CA$161.33 Million | CA$3.73 Million | CA$208.44 Million | ▼ -0.6 pp |
| 2007 | 98.3% | CA$258.19 Million | CA$4.30 Million | CA$298.69 Million | ▲ +6.1 pp |
| 2006 | 92.2% | CA$305.09 Million | CA$23.70 Million | CA$350.04 Million | ▲ +0.2 pp |
| 2005 | 92.1% | CA$472.81 Million | CA$37.59 Million | CA$524.87 Million | ▲ +29.8 pp |
| 2004 | 62.2% | CA$575.09 Million | CA$217.24 Million | CA$659.17 Million | ▲ +9.9 pp |
| 2003 | 52.3% | CA$741.70 Million | CA$353.67 Million | CA$834.84 Million | ▼ -4.7 pp |
| 2002 | 57.0% | CA$829.52 Million | CA$356.66 Million | CA$917.80 Million | ▼ -2.3 pp |
| 2001 | 59.3% | CA$873.72 Million | CA$355.38 Million | CA$959.32 Million | ▼ -36.4 pp |
| 2000 | 95.7% | CA$665.13 Million | CA$28.52 Million | CA$706.66 Million | ▲ +3.8 pp |
| 1999 | 91.9% | CA$394.10 Million | CA$32.06 Million | CA$426.79 Million | ▼ -8.1 pp |
| 1998 | 100.0% | CA$416.60 Million | CA$0.00 | CA$446.00 Million | ▲ +0.0 pp |
| 1997 | 100.0% | CA$216.40 Million | CA$0.00 | CA$238.30 Million | ▲ +0.0 pp |
| 1996 | 100.0% | CA$65.00 Million | CA$0.00 | CA$78.20 Million | ▲ +0.0 pp |
| 1995 | 100.0% | CA$24.90 Million | CA$0.00 | CA$35.40 Million | ▲ +0.0 pp |
| 1994 | 100.0% | CA$15.00 Million | CA$0.00 | CA$28.80 Million | ▲ +0.0 pp |
| 1993 | 100.0% | CA$12.81 Million | CA$0.00 | CA$21.32 Million | — |