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Side-by-side financial comparison of Ballard Power Systems Inc. (BLDP) and MDxHealth SA (MDXH). Click either name above to swap in a different company.
MDxHealth SA is the larger business by last-quarter revenue ($19.8M vs $17.7M, roughly 1.1× Ballard Power Systems 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.
MDxHealth SA is a global molecular diagnostics company specializing in non-invasive precision oncology tests focused primarily on urological cancers including prostate and bladder cancer. It operates across key markets in North America and Europe, providing clinicians with actionable diagnostic insights to guide personalized treatment decisions, reduce unnecessary invasive procedures, and improve patient care outcomes.
BLDP vs MDXH — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.7M | $19.8M |
| Net Profit | $176.5M | — |
| Gross Margin | — | 60.8% |
| Operating Margin | — | -33.3% |
| 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 | — | ||
| Q1 25 | — | $19.8M | ||
| Q3 24 | $-12.3M | — | ||
| Q1 24 | — | $14.7M | ||
| Q1 22 | $3.4M | — |
| Q3 25 | $176.5M | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q1 22 | $-22.6M | — |
| Q3 25 | — | — | ||
| Q1 25 | — | 60.8% | ||
| Q3 24 | 156.5% | — | ||
| Q1 24 | — | 59.3% | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q1 25 | — | -33.3% | ||
| Q3 24 | — | — | ||
| Q1 24 | — | -59.3% | ||
| Q1 22 | — | — |
| Q3 25 | 994.4% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q1 22 | -659.1% | — |
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 | — |
| 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.
| Q3 25 | $5.7M | — | ||
| Q1 25 | — | — | ||
| Q3 24 | $-6.6M | — | ||
| Q1 24 | — | — | ||
| Q1 22 | $-26.0K | — |
| Q3 25 | 0.03× | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q1 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
