Ballard Power Systems vs Helix Energy Solutions

Ballard Power Systems and Helix Energy Solutions Group, Inc. This page presents a neutral comparison of their business models, financial performance, and market context to help readers understand how each company operates within the energy and technology sectors. The content is designed to be accessible and informative, without recommendations or predictions. Educational content, not financial advice.

Comparison Snapshot

Key Financial Metrics

BLDP

Metric

HLX

$793.01M

Market Cap

$1.04B

7.69%

Potential Profit

48.94%

Hold

Analyst Rating

Buy

Investment Analysis

Ballard Power Systems

BLDP

Pros

Ballard Power Systems achieved 11% revenue growth year-over-year in Q2 2025 with improved gross margin by 24 percentage points.
The company initiated a strategic realignment aiming for positive cash flow by year-end 2027, including a 30% reduction in operating costs.
Ballard ended Q2 2025 with strong liquidity, holding $550 million in cash and cash equivalents.

Considerations

Ballard reported an ongoing negative gross margin of 8% in Q2 2025 despite improvements, indicating continued operating challenges.
The stock has an average analyst rating of 'Sell' with a consensus price target predicting a potential decline around 40% over the next year.
The company posted a diluted EPS (TTM) of -0.98, reflecting ongoing unprofitability.

Helix Energy Solutions

HLX

Pros

Helix Energy Solutions specializes in offshore energy services with diversified segments including well intervention, robotics, and production facilities.
The company operates globally across key offshore energy regions such as the Gulf of Mexico, North Sea, Brazil, Asia Pacific, and West Africa.
Helix offers both oil and gas offshore services and renewable energy market solutions through robotic technologies.

Considerations

Helix’s share price declined roughly 29% over the last 12 months, reflecting downwards pressure on valuation.
The stock price is forecasted to decline from current levels to around $6.18 within the next year.
Helix’s business is heavily tied to offshore energy industry cyclicality and commodity price exposure, adding execution and market risk.

About The Companies

Ballard Power Systems (BLDP)

Ballard Power Systems Inc (BLDP) is a Canadian developer and manufacturer of proton exchange membrane (PEM) fuel cell solutions aimed at transport, material handling, marine and stationary power markets. Investors should know Ballard supplies fuel cell modules and systems to vehicle manufacturers and fleet operators, and works with partners across the hydrogen value chain. Its revenue and profitability histories have been uneven as commercial adoption of fuel-cell technology is still emerging, and the business depends on customer orders, production scale-up and government support for low-carbon transport. With a market capitalisation near $1.00B, Ballard is considered a growth-stage clean-energy company: potential upside exists if hydrogen adoption and scale improve, but shares can be volatile and returns are not guaranteed. Key risks include technology competition (battery-electric and other fuel-cell types), supply-chain constraints, and capital intensity. This summary is educational general information, not personalised investment advice — consider your financial situation and investment horizon before deciding.

Helix Energy Solutions (HLX)

Helix Energy Solutions Group is an international company providing specialised services to the offshore energy industry. Its operations focus on key areas like well intervention, robotics, and full-field decommissioning. The company enables its customers to access subsea offshore wells for production enhancement or to safely end their operational life. Its robotics division supports both the traditional oil and gas sector and the growing renewable energy market with services such as trenching and seabed clearance. Additionally, Helix has a presence in shallow water abandonment services in the Gulf of Mexico. As an investor, it's worth noting that the company's performance can be linked to the broader trends and investment cycles within the global energy sector. Like any investment, the value of shares can go down as well as up.

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Which Baskets Do They Appear In?

Green Energy

Published: May 10, 2025

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Ballard Power Systems vs Helix Energy Solutions

Comparison Snapshot