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Side-by-side financial comparison of Ballard Power Systems Inc. (BLDP) and Maase Inc. (MAAS). Click either name above to swap in a different company.
Ballard Power Systems Inc. is the larger business by last-quarter revenue ($17.7M vs $9.9M, roughly 1.8× Maase Inc.).
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.
BLDP vs MAAS — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2023
| Metric | | |
|---|---|---|
| Revenue | $17.7M | $9.9M |
| Net Profit | $176.5M | — |
| Gross Margin | — | 78.7% |
| Operating Margin | — | -55.9% |
| Net Margin | 994.4% | — |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | — |
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.
| Q3 25 | $17.7M | — | ||
| Q3 24 | $-12.3M | — | ||
| Q4 22 | — | $9.9M | ||
| Q1 22 | $3.4M | — |
| Q3 25 | $176.5M | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | — | ||
| Q1 22 | $-22.6M | — |
| Q3 25 | — | — | ||
| Q3 24 | 156.5% | — | ||
| Q4 22 | — | 78.7% | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | -55.9% | ||
| Q1 22 | — | — |
| Q3 25 | 994.4% | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | — | ||
| Q1 22 | -659.1% | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $10.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $31.6M |
| Total Assets | — | $47.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | $10.9M | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | $31.6M | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | $47.0M | ||
| Q1 22 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.7M | $-18.2M |
| Free Cash FlowOCF − Capex | — | $-18.3M |
| FCF MarginFCF / Revenue | — | -184.4% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 0.03× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $5.7M | — | ||
| Q3 24 | $-6.6M | — | ||
| Q4 22 | — | $-18.2M | ||
| Q1 22 | $-26.0K | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | $-18.3M | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | -184.4% | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | 1.0% | ||
| Q1 22 | — | — |
| Q3 25 | 0.03× | — | ||
| Q3 24 | — | — | ||
| Q4 22 | — | — | ||
| Q1 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLDP
Segment breakdown not available.
MAAS
| Wealth management | $7.8M | 78% |
| Insurance consulting | $1.0M | 10% |
| Other | $975.0K | 10% |
| Asset management | $168.0K | 2% |
