BLDP vs. TT

Last updated Apr 1, 2026

Compare and contrast key facts about Ballard Power Systems Inc. (BLDP) and Trane Technologies plc (TT).

Performance

BLDP vs. TT - Performance Comparison

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

BLDP vs. TT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BLDP Ballard Power Systems Inc.	-4.72%	53.01%	-55.14%	-22.76%	-61.86%	-46.32%	225.91%	200.42%	-45.80%	167.27%
TT Trane Technologies plc	7.33%	6.38%	52.97%	47.39%	-15.34%	41.02%	11.26%	48.32%	4.41%	21.27%

Fundamentals

Market Cap BLDP : $705.51M TT : $93.18B
EPS BLDP : -$0.31 TT : $13.01
PS Ratio BLDP : 7.20 TT : 4.39
PB Ratio BLDP : 1.20 TT : 10.83
Total Revenue (TTM) BLDP : $99.89M TT : $21.32B
Gross Profit (TTM) BLDP : $4.46M TT : $7.71B
EBITDA (TTM) BLDP : -$80.34M TT : $4.21B

Returns By Period

In the year-to-date period, BLDP achieves a -4.72% return, which is significantly lower than TT's 7.33% return. Over the past 10 years, BLDP has underperformed TT with an annualized return of 5.70%, while TT has yielded a comparatively higher 22.93% annualized 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%

TT

• 1D: 3.17%
• 1M: -9.64%
• YTD: 7.33%
• 6M: -0.77%
• 1Y: 24.83%
• 3Y*: 32.81%
• 5Y*: 21.85%
• 10Y*: 22.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BLDP vs. TT — Risk / Return Rank

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

BLDP

BLDP Risk / Return Rank: 82
BLDP Sharpe Ratio Rank: 88
BLDP Sortino Ratio Rank: 87
BLDP Omega Ratio Rank: 81
BLDP Calmar Ratio Rank: 80
BLDP Martin Ratio Rank: 76

TT

TT Risk / Return Rank: 68
TT Sharpe Ratio Rank: 71
TT Sortino Ratio Rank: 65
TT Omega Ratio Rank: 65
TT Calmar Ratio Rank: 70
TT Martin Ratio Rank: 66

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. TT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ballard Power Systems Inc. (BLDP) and Trane Technologies plc (TT). 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	TT	Difference
Sharpe ratio Return per unit of total volatility	1.71	0.85	+0.86
Sortino ratio Return per unit of downside risk	2.51	1.36	+1.16
Omega ratio Gain probability vs. loss probability	1.30	1.18	+0.11
Calmar ratio Return relative to maximum drawdown	2.22	1.34	+0.89
Martin ratio Return relative to average drawdown	4.69	2.69	+2.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLDP vs. TT - Sharpe Ratio Comparison

The current BLDP Sharpe Ratio is 1.71, which is higher than the TT Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of BLDP and TT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BLDP	TT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	0.85	+0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.56	0.81	-1.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.82	-0.73
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.46	-0.48

Correlation

The correlation between BLDP and TT is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BLDP vs. TT - Dividend Comparison

BLDP has not paid dividends to shareholders, while TT's dividend yield for the trailing twelve months is around 0.93%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLDP Ballard Power Systems Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TT Trane Technologies plc	0.93%	0.97%	0.91%	1.23%	1.59%	1.17%	1.46%	1.59%	2.15%	1.91%	1.81%	2.10%

Drawdowns

BLDP vs. TT - Drawdown Comparison

The maximum BLDP drawdown since its inception was -99.55%, which is greater than TT's maximum drawdown of -77.91%. Use the drawdown chart below to compare losses from any high point for BLDP and TT.

Drawdown Indicators

	BLDP	TT	Difference
Max Drawdown Largest peak-to-trough decline	-99.55%	-77.91%	-21.64%
Max Drawdown (1Y) Largest decline over 1 year	-50.50%	-19.97%	-30.53%
Max Drawdown (5Y) Largest decline over 5 years	-95.88%	-40.53%	-55.35%
Max Drawdown (10Y) Largest decline over 10 years	-97.51%	-51.13%	-46.38%
Current Drawdown Current decline from peak	-98.17%	-11.60%	-86.57%
Average Drawdown Average peak-to-trough decline	-82.12%	-14.88%	-67.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.93%	9.92%	+14.01%

Volatility

BLDP vs. TT - Volatility Comparison

Ballard Power Systems Inc. (BLDP) has a higher volatility of 22.17% compared to Trane Technologies plc (TT) at 10.97%. This indicates that BLDP's price experiences larger fluctuations and is considered to be riskier than TT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLDP	TT	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.17%	10.97%	+11.20%
Volatility (6M) Calculated over the trailing 6-month period	48.01%	20.33%	+27.68%
Volatility (1Y) Calculated over the trailing 1-year period	70.61%	29.46%	+41.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.31%	27.00%	+39.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.98%	28.14%	+40.84%

Financials

BLDP vs. TT - Profitability Comparison

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

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%.

TT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Trane Technologies plc reported a gross profit of 1.75B and revenue of 5.14B. Therefore, the gross margin over that period was 34.1%.

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%.

TT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Trane Technologies plc reported an operating income of 819.00M and revenue of 5.14B, resulting in an operating margin of 15.9%.

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%.

TT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Trane Technologies plc reported a net income of 591.30M and revenue of 5.14B, resulting in a net margin of 11.5%.