Is Ballard Power Systems Inc. (BLDP) halal? Not Halal. Based on AAOIFI screening, Ballard Power Systems Inc. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Ballard Power Systems Inc.

BLDP: Is Ballard Power Systems Inc. Halal?

Not Halal

Ballard Power Systems Inc.

NASDAQIndustrialsCA

$4.16

+0.73%

About Ballard Power Systems Inc.

Ballard Power Systems Inc. specializes in the full lifecycle of proton exchange membrane (PEM) fuel cell technology, encompassing research, production, sales, and ongoing support. Their fuel cell offerings cater to various power applications, including heavy-duty transportation sectors like buses, trucks, trains, and marine vessels, as well as solutions for material handling equipment and critical backup power systems. Beyond products, Ballard extends its expertise through technology solutions, providing engineering services, technology transfer, and licensing its extensive intellectual property and core knowledge for diverse PEM fuel cell uses. They also deliver integrated hydrogen fuel cell powertrain and vehicle systems. The company maintains a broad international presence, with operations spanning numerous countries including China, Germany, the United States, the United Kingdom, Canada, Denmark, Norway, Belgium, Japan, France, Spain, Taiwan, Poland, India, Ukraine, and Sweden. A significant strategic partnership exists with Linamar Corporation, focused on jointly developing and marketing fuel cell powertrains and components designed for Class 1 and 2 vehicles across North America and Europe. Established in 1979, Ballard Power Systems Inc. is headquartered in Burnaby, Canada.

Sector: Industrials 路 Industry: Industrial - Machinery

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 18, 2026
F

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Passed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Financial Ratio Screen

Failed

Financial ratios must be below AAOIFI thresholds

Debt / Market Cap1.8% / 30.0%

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 18, 2026Fiscal: FY 2025Source: FMP

Financial Overview

Market Cap

1.3B

Price

$4.16

Sector

Industrials

Industry

Industrial - Machinery

Halal Alternatives in Industrials

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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Aduro Clean Technologies Inc.
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Aduro Clean Technologies Inc.

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$15.76

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Frequently Asked Questions

Is Ballard Power Systems Inc. (BLDP) halal to invest in?
Ballard Power Systems Inc. (BLDP) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.
Why did Ballard Power Systems Inc. get a F compliance rating?
Ballard Power Systems Inc. (BLDP) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 1.8% (limit 30%); interest-bearing deposits of 42.3% (limit 30%); prohibited income of 24.68% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.
What could change Ballard Power Systems Inc.'s Shariah verdict?
Ballard Power Systems Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.
How often is Ballard Power Systems Inc. re-screened for Shariah compliance?
Ballard Power Systems Inc. (BLDP) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jun 18, 2026.

Screened according to AAOIFI Standard No. 21 路 For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.