Ballard Power Systems Inc (BLDP) — Working Capital to Net Assets Ratio
Ballard Power Systems Inc (BLDP) has a Working Capital to Net Assets ratio of 90.4% as of September 2025. Working capital of CA$548.64 Million (current assets of CA$623.45 Million minus current liabilities of CA$74.81 Million) is measured against net assets of CA$606.82 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See debt-free asset ratio of Ballard Power Systems Inc to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Ballard Power Systems Inc Working Capital to Net Assets (1993–2024)
This chart shows how Ballard Power Systems Inc's Working Capital to Net Assets ratio has evolved across 32 annual periods from 1993 to 2024. As of September 2025, the ratio stands at 90.4%, reflecting working capital of CA$548.64 Million against net assets of CA$606.82 Million CAD. Check Ballard Power Systems Inc (BLDP) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Ballard Power Systems Inc (1993–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Ballard Power Systems Inc from 1993 to 2024, covering 32 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Ballard Power Systems Inc stock valuation.
| Year | WC/NA Ratio | Working Capital (CAD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 92.6% | CA$623.29 Million | CA$672.99 Million | CA$698.88 Million | CA$75.59 Million | ▲ +12.5 pp |
| 2023 | 80.1% | CA$794.15 Million | CA$991.22 Million | CA$864.74 Million | CA$70.59 Million | ▼ -2.3 pp |
| 2022 | 82.4% | CA$955.34 Million | CA$1.16 Billion | CA$1.03 Billion | CA$73.17 Million | ▼ -3.8 pp |
| 2021 | 86.3% | CA$1.15 Billion | CA$1.33 Billion | CA$1.23 Billion | CA$83.16 Million | ▼ -2.8 pp |
| 2020 | 89.0% | CA$802.22 Million | CA$900.89 Million | CA$854.32 Million | CA$52.09 Million | ▲ +23.1 pp |
| 2019 | 65.9% | CA$165.01 Million | CA$250.26 Million | CA$229.53 Million | CA$64.52 Million | ▼ -9.7 pp |
| 2018 | 75.7% | CA$213.88 Million | CA$282.60 Million | CA$261.59 Million | CA$47.71 Million | ▲ +22.8 pp |
| 2017 | 52.9% | CA$63.38 Million | CA$119.86 Million | CA$102.80 Million | CA$39.42 Million | ▼ -0.4 pp |
| 2016 | 53.2% | CA$64.71 Million | CA$121.54 Million | CA$107.75 Million | CA$43.05 Million | ▲ +1.8 pp |
| 2015 | 51.4% | CA$57.39 Million | CA$111.61 Million | CA$87.57 Million | CA$30.19 Million | ▲ +18.9 pp |
| 2014 | 32.5% | CA$25.75 Million | CA$79.23 Million | CA$50.65 Million | CA$24.90 Million | ▼ -16.3 pp |
| 2013 | 48.8% | CA$34.28 Million | CA$70.25 Million | CA$60.71 Million | CA$26.43 Million | ▲ +12.2 pp |
| 2012 | 36.6% | CA$21.21 Million | CA$58.00 Million | CA$61.30 Million | CA$40.09 Million | ▼ -2.8 pp |
| 2011 | 39.4% | CA$36.37 Million | CA$92.34 Million | CA$77.91 Million | CA$41.53 Million | ▼ -10.9 pp |
| 2010 | 50.3% | CA$64.31 Million | CA$127.88 Million | CA$99.40 Million | CA$35.09 Million | ▲ +2.2 pp |
| 2009 | 48.0% | CA$76.36 Million | CA$158.92 Million | CA$106.42 Million | CA$30.06 Million | ▼ -7.4 pp |
| 2008 | 55.5% | CA$89.48 Million | CA$161.33 Million | CA$116.09 Million | CA$26.61 Million | ▼ -5.9 pp |
| 2007 | 61.3% | CA$158.34 Million | CA$258.19 Million | CA$181.24 Million | CA$22.90 Million | ▼ 0.0 pp |
| 2006 | 61.3% | CA$187.15 Million | CA$305.09 Million | CA$221.15 Million | CA$34.00 Million | ▲ +14.6 pp |
| 2005 | 46.7% | CA$221.04 Million | CA$472.81 Million | CA$262.95 Million | CA$41.92 Million | ▲ +10.4 pp |
| 2004 | 36.4% | CA$209.08 Million | CA$575.09 Million | CA$278.25 Million | CA$69.17 Million | ▼ -3.9 pp |
| 2003 | 40.3% | CA$298.69 Million | CA$741.70 Million | CA$378.46 Million | CA$79.77 Million | ▼ -2.7 pp |
| 2002 | 43.0% | CA$356.47 Million | CA$829.52 Million | CA$433.35 Million | CA$76.88 Million | ▼ -1.6 pp |
| 2001 | 44.6% | CA$389.61 Million | CA$873.72 Million | CA$467.48 Million | CA$77.87 Million | ▼ -31.1 pp |
| 2000 | 75.7% | CA$503.47 Million | CA$665.13 Million | CA$540.87 Million | CA$37.40 Million | ▲ +14.7 pp |
| 1999 | 61.0% | CA$240.47 Million | CA$394.10 Million | CA$272.92 Million | CA$32.46 Million | ▼ -3.7 pp |
| 1998 | 64.7% | CA$269.70 Million | CA$416.60 Million | CA$298.80 Million | CA$29.10 Million | ▲ +12.3 pp |
| 1997 | 52.4% | CA$113.50 Million | CA$216.40 Million | CA$135.10 Million | CA$21.60 Million | ▼ -28.6 pp |
| 1996 | 81.1% | CA$52.70 Million | CA$65.00 Million | CA$65.50 Million | CA$12.80 Million | ▲ +4.8 pp |
| 1995 | 76.3% | CA$19.00 Million | CA$24.90 Million | CA$28.60 Million | CA$9.60 Million | ▼ -10.4 pp |
| 1994 | 86.7% | CA$13.00 Million | CA$15.00 Million | CA$25.80 Million | CA$12.80 Million | ▼ -6.9 pp |
| 1993 | 93.5% | CA$11.98 Million | CA$12.81 Million | CA$18.99 Million | CA$7.01 Million | — |