BLDP.TO vs. FSLR
BLDP.TO (Ballard Power Systems Inc.) and FSLR (First Solar, Inc.) are both stocks. BLDP.TO operates in Specialty Industrial Machinery (Industrials), while FSLR operates in Solar (Technology). Over the past 10 years, BLDP.TO returned 16.40%/yr vs 19.70%/yr for FSLR. At a 0.32 correlation, their price movements are largely independent.
Performance
BLDP.TO vs. FSLR - Performance Comparison
Loading charts...
Different Trading Currencies
BLDP.TO is traded in CAD, while FSLR is traded in USD. To make them comparable, the FSLR values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BLDP.TO achieves a 141.43% return, which is significantly higher than FSLR's 8.49% return. Over the past 10 years, BLDP.TO has underperformed FSLR with an annualized return of 16.40%, while FSLR has yielded a comparatively higher 19.70% annualized return.
BLDP.TO
- 1D
- 0.24%
- 1M
- 29.40%
- YTD
- 141.43%
- 6M
- 116.11%
- 1Y
- 335.57%
- 3Y*
- 13.89%
- 5Y*
- -16.24%
- 10Y*
- 16.40%
FSLR
- 1D
- -11.23%
- 1M
- 30.84%
- YTD
- 8.49%
- 6M
- 9.27%
- 1Y
- 73.58%
- 3Y*
- 13.81%
- 5Y*
- 33.55%
- 10Y*
- 19.70%
BLDP.TO vs. FSLR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BLDP.TO Ballard Power Systems Inc. | 141.43% | 46.44% | -51.32% | -24.23% | -59.22% | -46.64% | 220.91% | 182.93% | -41.01% | 150.45% |
FSLR First Solar, Inc. | 8.49% | 41.43% | 11.09% | 12.48% | 84.10% | -12.68% | 73.78% | 25.33% | -31.79% | 97.01% |
Correlation
The correlation between BLDP.TO and FSLR is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2009 | 0.32 |
The correlation between BLDP.TO and FSLR shifts across timeframes, from 0.32 (all time) to 0.46 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
BLDP.TO:
CA$2.54B
FSLR:
$30.03B
BLDP.TO:
-CA$0.27
FSLR:
$15.48
BLDP.TO:
24.51
FSLR:
5.54
BLDP.TO:
4.40
FSLR:
3.04
BLDP.TO:
CA$103.60M
FSLR:
$5.42B
BLDP.TO:
CA$10.79M
FSLR:
$2.26B
BLDP.TO:
-CA$73.66M
FSLR:
$2.15B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BLDP.TO vs. FSLR — Risk / Return Rank
BLDP.TO
FSLR
BLDP.TO vs. FSLR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ballard Power Systems Inc. (BLDP.TO) and First Solar, Inc. (FSLR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BLDP.TO | FSLR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.09 | ||
| Sortino ratioReturn per unit of downside risk | +2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.26 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 6.79 | 2.12 | +4.67 |
| Martin ratioReturn relative to average drawdown | 13.55 | 4.45 | +9.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BLDP.TO | FSLR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.39 | 1.30 | +3.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | 0.64 | -0.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.24 | 0.40 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.08 | -0.02 |
Drawdowns
BLDP.TO vs. FSLR - Drawdown Comparison
The maximum BLDP.TO drawdown since its inception was -99.69%, which is greater than FSLR's maximum drawdown of -93.82%. Use the drawdown chart below to compare losses from any high point for BLDP.TO and FSLR.
Loading charts...
Drawdown Indicators
| BLDP.TO | FSLR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.69% | -93.82% | -5.87% |
Max Drawdown (1Y)Largest decline over 1 year | -51.88% | -34.85% | -17.03% |
Max Drawdown (3Y)Largest decline over 3 years | -79.61% | -58.94% | -20.67% |
Max Drawdown (5Y)Largest decline over 5 years | -93.98% | -58.94% | -35.04% |
Max Drawdown (10Y)Largest decline over 10 years | -97.22% | -58.94% | -38.28% |
Current DrawdownCurrent decline from peak | -95.60% | -12.07% | -83.53% |
Average DrawdownAverage peak-to-trough decline | -78.08% | -52.08% | -26.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.94% | 16.59% | +9.35% |
Volatility
BLDP.TO vs. FSLR - Volatility Comparison
Ballard Power Systems Inc. (BLDP.TO) has a higher volatility of 26.84% compared to First Solar, Inc. (FSLR) at 20.95%. This indicates that BLDP.TO's price experiences larger fluctuations and is considered to be riskier than FSLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BLDP.TO | FSLR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.84% | 20.95% | +5.89% |
Volatility (6M)Calculated over the trailing 6-month period | 53.97% | 40.66% | +13.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.31% | 56.88% | +23.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.75% | 52.95% | +13.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.89% | 49.66% | +19.23% |
Dividends
BLDP.TO vs. FSLR - Dividend Comparison
Neither BLDP.TO nor FSLR has paid dividends to shareholders.
Financials
BLDP.TO vs. FSLR - Financials Comparison
This section allows you to compare key financial metrics between Ballard Power Systems Inc. and First Solar, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BLDP.TO vs. FSLR - Profitability Comparison
BLDP.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ballard Power Systems Inc. reported a gross profit of 2.72M and revenue of 19.10M. Therefore, the gross margin over that period was 14.2%.
FSLR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Solar, Inc. reported a gross profit of 486.13M and revenue of 1.04B. Therefore, the gross margin over that period was 46.6%.
BLDP.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ballard Power Systems Inc. reported an operating income of -12.86M and revenue of 19.10M, resulting in an operating margin of -67.3%.
FSLR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Solar, Inc. reported an operating income of 345.30M and revenue of 1.04B, resulting in an operating margin of 33.1%.
BLDP.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ballard Power Systems Inc. reported a net income of -11.21M and revenue of 19.10M, resulting in a net margin of -58.7%.
FSLR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Solar, Inc. reported a net income of 346.62M and revenue of 1.04B, resulting in a net margin of 33.2%.
Frequently Asked Questions
BLDP.TO and FSLR have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for BLDP.TO and FSLR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer