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Side-by-side financial comparison of Ballard Power Systems Inc. (BLDP) and Bank of Marin Bancorp (BMRC). Click either name above to swap in a different company.

Bank of Marin Bancorp is the larger business by last-quarter revenue ($34.1M vs $17.7M, roughly 1.9× Ballard Power Systems Inc.). Ballard Power Systems Inc. runs the higher net margin — 994.4% vs 24.9%, a 969.5% gap on every dollar of revenue.

Ballard Power Systems Inc. is a developer and manufacturer of proton exchange membrane (PEM) fuel cell products for markets such as heavy-duty motive, portable power, material handling as well as engineering services. Ballard has designed and shipped over 400 MW of fuel cell products to date.

American River Bank was a community bank founded in 1983 by Robert H. Daneke, who served as first president and CEO, and Bill L. Withrow, the first Chairman of the Board, and served the Greater Sacramento area in California. As of 2019, It operated ten branches in Northern CA. American River Bank which offered both business and personal financial services and was a wholly owned subsidiary of American River Bankshares.

BLDP vs BMRC — Head-to-Head

Bigger by revenue
BMRC
BMRC
1.9× larger
BMRC
$34.1M
$17.7M
BLDP
Higher net margin
BLDP
BLDP
969.5% more per $
BLDP
994.4%
24.9%
BMRC

Income Statement — Q3 FY2025 vs Q1 FY2026

Metric
BLDP
BLDP
BMRC
BMRC
Revenue
$17.7M
$34.1M
Net Profit
$176.5M
$8.5M
Gross Margin
Operating Margin
Net Margin
994.4%
24.9%
Revenue YoY
Net Profit YoY
74.5%
EPS (diluted)
$0.53

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
BLDP
BLDP
BMRC
BMRC
Q1 26
$34.1M
Q4 25
$27.0M
Q3 25
$17.7M
$30.9M
Q2 25
$10.3M
Q1 25
$27.8M
Q4 24
$22.2M
Q3 24
$-12.3M
$27.2M
Q2 24
$22.5M
Net Profit
BLDP
BLDP
BMRC
BMRC
Q1 26
$8.5M
Q4 25
$-39.5M
Q3 25
$176.5M
$7.5M
Q2 25
$-8.5M
Q1 25
$4.9M
Q4 24
$6.0M
Q3 24
$4.6M
Q2 24
$-21.9M
Gross Margin
BLDP
BLDP
BMRC
BMRC
Q1 26
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
156.5%
Q2 24
Operating Margin
BLDP
BLDP
BMRC
BMRC
Q1 26
Q4 25
-212.6%
Q3 25
31.1%
Q2 25
-108.8%
Q1 25
23.3%
Q4 24
43.5%
Q3 24
25.7%
Q2 24
-153.0%
Net Margin
BLDP
BLDP
BMRC
BMRC
Q1 26
24.9%
Q4 25
-146.5%
Q3 25
994.4%
24.3%
Q2 25
-82.9%
Q1 25
17.5%
Q4 24
27.1%
Q3 24
16.8%
Q2 24
-97.5%
EPS (diluted)
BLDP
BLDP
BMRC
BMRC
Q1 26
$0.53
Q4 25
$-2.48
Q3 25
$0.47
Q2 25
$-0.53
Q1 25
$0.30
Q4 24
$0.38
Q3 24
$0.28
Q2 24
$-1.36

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BLDP
BLDP
BMRC
BMRC
Cash + ST InvestmentsLiquidity on hand
Total DebtLower is stronger
Stockholders' EquityBook value
$394.5M
Total Assets
$3.9B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Stockholders' Equity
BLDP
BLDP
BMRC
BMRC
Q1 26
$394.5M
Q4 25
$394.7M
Q3 25
$443.8M
Q2 25
$438.5M
Q1 25
$439.6M
Q4 24
$435.4M
Q3 24
$437.0M
Q2 24
$434.9M
Total Assets
BLDP
BLDP
BMRC
BMRC
Q1 26
$3.9B
Q4 25
$3.9B
Q3 25
$3.9B
Q2 25
$3.7B
Q1 25
$3.8B
Q4 24
$3.7B
Q3 24
$3.8B
Q2 24
$3.7B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BLDP
BLDP
BMRC
BMRC
Operating Cash FlowLast quarter
$5.7M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
0.03×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BLDP
BLDP
BMRC
BMRC
Q1 26
Q4 25
$39.1M
Q3 25
$5.7M
$12.5M
Q2 25
$8.0M
Q1 25
$4.9M
Q4 24
$28.4M
Q3 24
$-6.6M
$9.9M
Q2 24
$3.4M
Free Cash Flow
BLDP
BLDP
BMRC
BMRC
Q1 26
Q4 25
$37.3M
Q3 25
$12.1M
Q2 25
$7.1M
Q1 25
$4.6M
Q4 24
$27.8M
Q3 24
$9.8M
Q2 24
$3.4M
FCF Margin
BLDP
BLDP
BMRC
BMRC
Q1 26
Q4 25
138.1%
Q3 25
39.0%
Q2 25
68.7%
Q1 25
16.6%
Q4 24
125.7%
Q3 24
36.0%
Q2 24
15.0%
Capex Intensity
BLDP
BLDP
BMRC
BMRC
Q1 26
Q4 25
6.7%
Q3 25
1.3%
Q2 25
9.4%
Q1 25
1.1%
Q4 24
2.3%
Q3 24
0.4%
Q2 24
0.4%
Cash Conversion
BLDP
BLDP
BMRC
BMRC
Q1 26
Q4 25
Q3 25
0.03×
1.66×
Q2 25
Q1 25
1.01×
Q4 24
4.73×
Q3 24
2.16×
Q2 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

BLDP
BLDP

Segment breakdown not available.

BMRC
BMRC

Net Interest Income$30.3M89%
Noninterest Income$3.8M11%

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