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BLDP vs. SHLS
Performance
Return for Risk
Dividends
Drawdowns
Volatility
Financials

Performance

BLDP vs. SHLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ballard Power Systems Inc. (BLDP) and Shoals Technologies Group, Inc. (SHLS). The values are adjusted to include any dividend payments, if applicable.

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BLDP vs. SHLS - Yearly Performance Comparison


2026 (YTD)20252024202320222021
BLDP
Ballard Power Systems Inc.
-4.72%53.01%-55.14%-22.76%-61.86%-63.46%
SHLS
Shoals Technologies Group, Inc.
-22.59%53.71%-64.41%-37.01%1.52%-21.56%

Fundamentals

Market Cap

BLDP:

$705.51M

SHLS:

$1.12B

EPS

BLDP:

-$0.31

SHLS:

$0.20

PS Ratio

BLDP:

7.20

SHLS:

2.33

PB Ratio

BLDP:

1.20

SHLS:

1.86

Total Revenue (TTM)

BLDP:

$99.89M

SHLS:

$475.33M

Gross Profit (TTM)

BLDP:

$4.46M

SHLS:

$166.51M

EBITDA (TTM)

BLDP:

-$80.34M

SHLS:

$65.60M

Returns By Period

In the year-to-date period, BLDP achieves a -4.72% return, which is significantly higher than SHLS's -22.59% return.


BLDP

1D
5.22%
1M
13.08%
YTD
-4.72%
6M
-11.03%
1Y
120.00%
3Y*
-24.26%
5Y*
-36.88%
10Y*
5.70%

SHLS

1D
5.28%
1M
10.96%
YTD
-22.59%
6M
-11.20%
1Y
98.19%
3Y*
-33.91%
5Y*
-28.24%
10Y*
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Return for Risk

BLDP vs. SHLS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BLDP
BLDP Risk / Return Rank: 8282
Overall Rank
BLDP Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
BLDP Sortino Ratio Rank: 8787
Sortino Ratio Rank
BLDP Omega Ratio Rank: 8181
Omega Ratio Rank
BLDP Calmar Ratio Rank: 8080
Calmar Ratio Rank
BLDP Martin Ratio Rank: 7676
Martin Ratio Rank

SHLS
SHLS Risk / Return Rank: 7777
Overall Rank
SHLS Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
SHLS Sortino Ratio Rank: 7575
Sortino Ratio Rank
SHLS Omega Ratio Rank: 7575
Omega Ratio Rank
SHLS Calmar Ratio Rank: 7979
Calmar Ratio Rank
SHLS Martin Ratio Rank: 7878
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BLDP vs. SHLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ballard Power Systems Inc. (BLDP) and Shoals Technologies Group, Inc. (SHLS). 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.


BLDPSHLSDifference

Sharpe ratio

Return per unit of total volatility

1.71

1.11

+0.60

Sortino ratio

Return per unit of downside risk

2.51

1.81

+0.70

Omega ratio

Gain probability vs. loss probability

1.30

1.25

+0.05

Calmar ratio

Return relative to maximum drawdown

2.22

2.09

+0.14

Martin ratio

Return relative to average drawdown

4.69

5.08

-0.38

BLDP vs. SHLS - Sharpe Ratio Comparison

The current BLDP Sharpe Ratio is 1.71, which is higher than the SHLS Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of BLDP and SHLS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Sharpe Ratios by Period


BLDPSHLSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.71

1.11

+0.60

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.56

-0.36

-0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.02

-0.33

+0.31

Correlation

The correlation between BLDP and SHLS is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.


Dividends

BLDP vs. SHLS - Dividend Comparison

Neither BLDP nor SHLS has paid dividends to shareholders.


Tickers have no history of dividend payments

Drawdowns

BLDP vs. SHLS - Drawdown Comparison

The maximum BLDP drawdown since its inception was -99.55%, which is greater than SHLS's maximum drawdown of -93.00%. Use the drawdown chart below to compare losses from any high point for BLDP and SHLS.


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Drawdown Indicators


BLDPSHLSDifference

Max Drawdown

Largest peak-to-trough decline

-99.55%

-93.00%

-6.55%

Max Drawdown (1Y)

Largest decline over 1 year

-50.50%

-47.37%

-3.13%

Max Drawdown (5Y)

Largest decline over 5 years

-95.88%

-92.50%

-3.38%

Max Drawdown (10Y)

Largest decline over 10 years

-97.51%

Current Drawdown

Current decline from peak

-98.17%

-83.62%

-14.55%

Average Drawdown

Average peak-to-trough decline

-82.12%

-58.59%

-23.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

23.93%

19.46%

+4.47%

Volatility

BLDP vs. SHLS - Volatility Comparison

Ballard Power Systems Inc. (BLDP) has a higher volatility of 22.17% compared to Shoals Technologies Group, Inc. (SHLS) at 18.90%. This indicates that BLDP's price experiences larger fluctuations and is considered to be riskier than SHLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


BLDPSHLSDifference

Volatility (1M)

Calculated over the trailing 1-month period

22.17%

18.90%

+3.27%

Volatility (6M)

Calculated over the trailing 6-month period

48.01%

62.67%

-14.66%

Volatility (1Y)

Calculated over the trailing 1-year period

70.61%

89.17%

-18.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

66.31%

77.72%

-11.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

68.98%

78.07%

-9.09%

Financials

BLDP vs. SHLS - Financials Comparison

This section allows you to compare key financial metrics between Ballard Power Systems Inc. and Shoals Technologies Group, 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.


Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities


20.00M40.00M60.00M80.00M100.00M120.00M140.00MAprilJulyOctober2022AprilJulyOctober2023AprilJulyOctober2024AprilJulyOctober2025AprilJulyOctober
34.16M
148.33M
(BLDP) Total Revenue
(SHLS) Total Revenue
Values in USD except per share items

BLDP vs. SHLS - Profitability Comparison

The chart below illustrates the profitability comparison between Ballard Power Systems Inc. and Shoals Technologies Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Gross Margin
Operating Margin
Net Margin
Quarterly
Annual

-60.0%-40.0%-20.0%0.0%20.0%40.0%AprilJulyOctober2022AprilJulyOctober2023AprilJulyOctober2024AprilJulyOctober2025AprilJulyOctober
13.5%
31.6%
Portfolio components
BLDP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Ballard Power Systems Inc. reported a gross profit of 4.61M and revenue of 34.16M. Therefore, the gross margin over that period was 13.5%.

SHLS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Shoals Technologies Group, Inc. reported a gross profit of 46.91M and revenue of 148.33M. Therefore, the gross margin over that period was 31.6%.

BLDP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Ballard Power Systems Inc. reported an operating income of -12.49M and revenue of 34.16M, resulting in an operating margin of -36.6%.

SHLS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Shoals Technologies Group, Inc. reported an operating income of 17.40M and revenue of 148.33M, resulting in an operating margin of 11.7%.

BLDP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Ballard Power Systems Inc. reported a net income of -17.77M and revenue of 34.16M, resulting in a net margin of -52.0%.

SHLS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Shoals Technologies Group, Inc. reported a net income of 8.12M and revenue of 148.33M, resulting in a net margin of 5.5%.