vs
Ballard Power Systems Inc.（BLDP）与FUELCELL ENERGY INC（FCEL）财务数据对比。点击上方公司名可切换其他公司
FUELCELL ENERGY INC的季度营收约是Ballard Power Systems Inc.的3.1倍（$55.0M vs $17.7M）。Ballard Power Systems Inc.净利率更高（994.4% vs -54.3%，领先1048.7%）
巴拉德动力系统是全球知名的质子交换膜燃料电池研发制造商，产品主要应用于重型动力、便携式电源、物料搬运等领域，同时提供相关工程技术服务。截至目前，公司已完成设计并出货的燃料电池产品总装机容量超过400兆瓦。
燃料电池能源公司是一家上市燃料电池企业，总部位于美国康涅狄格州丹伯里，公司主打基于熔融碳酸盐燃料电池技术的发电站业务，从事相关产品的设计、生产，同时还提供发电站运营及相关技术服务。
BLDP vs FCEL — 直观对比
营收规模更大
FCEL
是对方的3.1倍
$17.7M
净利率更高
BLDP
高出1048.7%
-54.3%
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $17.7M | $55.0M |
| 净利润 | $176.5M | $-29.9M |
| 毛利率 | — | -12.1% |
| 营业利润率 | — | -51.5% |
| 净利率 | 994.4% | -54.3% |
| 营收同比 | — | 11.5% |
| 净利润同比 | — | 27.9% |
| 每股收益（稀释后） | — | $-0.43 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BLDPFCEL
| Q4 25 | — | $55.0M | ||
| Q3 25 | $17.7M | $46.7M | ||
| Q2 25 | $1.8M | $37.4M | ||
| Q1 25 | $937.0K | $19.0M | ||
| Q4 24 | — | $49.3M | ||
| Q3 24 | $-12.3M | $23.7M | ||
| Q2 24 | $689.0K | $22.4M | ||
| Q1 24 | $1.2M | $16.7M |
净利润BLDPFCEL
| Q4 25 | — | $-29.9M | ||
| Q3 25 | $176.5M | $-91.7M | ||
| Q2 25 | $7.2M | $-38.0M | ||
| Q1 25 | $20.0M | $-28.3M | ||
| Q4 24 | — | $-41.4M | ||
| Q3 24 | — | $-32.7M | ||
| Q2 24 | — | $-32.1M | ||
| Q1 24 | $1.3M | $-19.8M |
毛利率BLDPFCEL
| Q4 25 | — | -12.1% | ||
| Q3 25 | — | -11.0% | ||
| Q2 25 | 2.7% | -25.2% | ||
| Q1 25 | 7.2% | -27.4% | ||
| Q4 24 | — | -22.1% | ||
| Q3 24 | 156.5% | -26.2% | ||
| Q2 24 | — | -31.6% | ||
| Q1 24 | — | -70.2% |
营业利润率BLDPFCEL
| Q4 25 | — | -51.5% | ||
| Q3 25 | — | -204.0% | ||
| Q2 25 | — | -95.7% | ||
| Q1 25 | — | -172.9% | ||
| Q4 24 | — | -83.2% | ||
| Q3 24 | — | -141.9% | ||
| Q2 24 | — | -184.5% | ||
| Q1 24 | — | -254.5% |
净利率BLDPFCEL
| Q4 25 | — | -54.3% | ||
| Q3 25 | 994.4% | -196.1% | ||
| Q2 25 | 390.6% | -101.7% | ||
| Q1 25 | 2137.7% | -149.1% | ||
| Q4 24 | — | -84.0% | ||
| Q3 24 | — | -137.8% | ||
| Q2 24 | — | -143.4% | ||
| Q1 24 | 107.9% | -118.6% |
每股收益（稀释后）BLDPFCEL
| Q4 25 | — | $-0.43 | ||
| Q3 25 | — | $-3.78 | ||
| Q2 25 | — | $-1.79 | ||
| Q1 25 | — | $-1.42 | ||
| Q4 24 | — | $-2.29 | ||
| Q3 24 | — | $-1.99 | ||
| Q2 24 | — | $-2.18 | ||
| Q1 24 | — | $-1.37 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $278.1M |
| 总债务越低越好 | — | $103.8M |
| 股东权益账面价值 | — | $662.2M |
| 总资产 | — | $932.1M |
| 负债/权益比越低杠杆越低 | — | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资BLDPFCEL
| Q4 25 | — | $278.1M | ||
| Q3 25 | — | $174.7M | ||
| Q2 25 | — | $177.0M | ||
| Q1 25 | — | $208.4M | ||
| Q4 24 | — | $257.3M | ||
| Q3 24 | — | $267.2M | ||
| Q2 24 | — | $260.1M | ||
| Q1 24 | — | $297.5M |
总债务BLDPFCEL
| Q4 25 | — | $103.8M | ||
| Q3 25 | — | $106.4M | ||
| Q2 25 | — | $109.4M | ||
| Q1 25 | — | $112.3M | ||
| Q4 24 | — | $115.7M | ||
| Q3 24 | — | $112.7M | ||
| Q2 24 | — | $116.2M | ||
| Q1 24 | — | $107.2M |
股东权益BLDPFCEL
| Q4 25 | — | $662.2M | ||
| Q3 25 | — | $556.2M | ||
| Q2 25 | — | $609.2M | ||
| Q1 25 | — | $635.2M | ||
| Q4 24 | — | $656.9M | ||
| Q3 24 | — | $675.8M | ||
| Q2 24 | — | $639.8M | ||
| Q1 24 | — | $663.9M |
总资产BLDPFCEL
| Q4 25 | — | $932.1M | ||
| Q3 25 | — | $830.5M | ||
| Q2 25 | — | $883.8M | ||
| Q1 25 | — | $907.5M | ||
| Q4 24 | — | $944.1M | ||
| Q3 24 | — | $948.9M | ||
| Q2 24 | — | $916.8M | ||
| Q1 24 | — | $923.2M |
负债/权益比BLDPFCEL
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.18× | ||
| Q1 24 | — | 0.16× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $5.7M | $-22.9M |
| 自由现金流经营现金流 - 资本支出 | — | $-23.9M |
| 自由现金流率自由现金流/营收 | — | -43.4% |
| 资本支出强度资本支出/营收 | — | 1.8% |
| 现金转化率经营现金流/净利润 | 0.03× | — |
| 过去12个月自由现金流最近4个季度 | — | $-143.9M |
8季度趋势，按日历期对齐
经营现金流BLDPFCEL
| Q4 25 | — | $-22.9M | ||
| Q3 25 | $5.7M | $-26.8M | ||
| Q2 25 | $14.8M | $-29.9M | ||
| Q1 25 | $-4.4M | $-45.7M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $-6.6M | $-63.4M | ||
| Q2 24 | $-7.4M | $-37.1M | ||
| Q1 24 | $16.6M | $-58.3M |
自由现金流BLDPFCEL
| Q4 25 | — | $-23.9M | ||
| Q3 25 | — | $-32.1M | ||
| Q2 25 | — | $-35.2M | ||
| Q1 25 | — | $-52.8M | ||
| Q4 24 | — | $-4.7M | ||
| Q3 24 | — | $-76.8M | ||
| Q2 24 | — | $-50.3M | ||
| Q1 24 | — | $-68.8M |
自由现金流率BLDPFCEL
| Q4 25 | — | -43.4% | ||
| Q3 25 | — | -68.6% | ||
| Q2 25 | — | -94.0% | ||
| Q1 25 | — | -277.8% | ||
| Q4 24 | — | -9.5% | ||
| Q3 24 | — | -324.0% | ||
| Q2 24 | — | -224.5% | ||
| Q1 24 | — | -412.4% |
资本支出强度BLDPFCEL
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 11.2% | ||
| Q2 25 | — | 14.1% | ||
| Q1 25 | — | 37.2% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 56.6% | ||
| Q2 24 | — | 58.9% | ||
| Q1 24 | — | 63.3% |
现金转化率BLDPFCEL
| Q4 25 | — | — | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | -0.22× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 12.70× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BLDP
暂无分部数据
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
