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PLUG POWER INC (PLUG) Stock Fundamental Analysis

USA - Nasdaq - NASDAQ:PLUG - US72919P2020 - Common Stock

2.2657 USD
+0.05 (+2.06%)
Last: 12/16/2025, 9:52:08 AM
Fundamental Rating

2

PLUG gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 90 industry peers in the Electrical Equipment industry. Both the profitability and financial health of PLUG have multiple concerns. PLUG is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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0

1. Profitability

1.1 Basic Checks

In the past year PLUG has reported negative net income.
In the past year PLUG has reported a negative cash flow from operations.
PLUG had negative earnings in each of the past 5 years.
In the past 5 years PLUG always reported negative operating cash flow.
PLUG Yearly Net Income VS EBIT VS OCF VS FCFPLUG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -500M -1B -1.5B -2B

1.2 Ratios

Looking at the Return On Assets, with a value of -68.32%, PLUG is doing worse than 82.22% of the companies in the same industry.
With a Return On Equity value of -149.73%, PLUG is not doing good in the industry: 67.78% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -68.32%
ROE -149.73%
ROIC N/A
ROA(3y)-32.97%
ROA(5y)-26.62%
ROE(3y)-62.14%
ROE(5y)-47.41%
ROIC(3y)N/A
ROIC(5y)N/A
PLUG Yearly ROA, ROE, ROICPLUG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -50 -100 -150 -200

1.3 Margins

PLUG does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
PLUG Yearly Profit, Operating, Gross MarginsPLUG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300

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1

2. Health

2.1 Basic Checks

PLUG does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, PLUG has more shares outstanding
PLUG has more shares outstanding than it did 5 years ago.
PLUG has a worse debt/assets ratio than last year.
PLUG Yearly Shares OutstandingPLUG Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
PLUG Yearly Total Debt VS Total AssetsPLUG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.2 Solvency

Based on the Altman-Z score of -2.88, we must say that PLUG is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of -2.88, PLUG is not doing good in the industry: 74.44% of the companies in the same industry are doing better.
A Debt/Equity ratio of 0.25 indicates that PLUG is not too dependend on debt financing.
PLUG has a Debt to Equity ratio of 0.25. This is in the better half of the industry: PLUG outperforms 61.11% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.25
Debt/FCF N/A
Altman-Z -2.88
ROIC/WACCN/A
WACC8.16%
PLUG Yearly LT Debt VS Equity VS FCFPLUG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B

2.3 Liquidity

A Current Ratio of 1.32 indicates that PLUG should not have too much problems paying its short term obligations.
PLUG has a worse Current ratio (1.32) than 63.33% of its industry peers.
PLUG has a Quick Ratio of 1.32. This is a bad value and indicates that PLUG is not financially healthy enough and could expect problems in meeting its short term obligations.
PLUG has a Quick ratio of 0.70. This is in the lower half of the industry: PLUG underperforms 73.33% of its industry peers.
Industry RankSector Rank
Current Ratio 1.32
Quick Ratio 0.7
PLUG Yearly Current Assets VS Current LiabilitesPLUG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

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3. Growth

3.1 Past

PLUG shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.40%.
Looking at the last year, PLUG shows a small growth in Revenue. The Revenue has grown by 2.53% in the last year.
Measured over the past years, PLUG shows a very strong growth in Revenue. The Revenue has been growing by 22.28% on average per year.
EPS 1Y (TTM)-1.4%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%52%
Revenue 1Y (TTM)2.53%
Revenue growth 3Y7.77%
Revenue growth 5Y22.28%
Sales Q2Q%1.91%

3.2 Future

Based on estimates for the next years, PLUG will show a quite strong growth in Earnings Per Share. The EPS will grow by 14.75% on average per year.
Based on estimates for the next years, PLUG will show a quite strong growth in Revenue. The Revenue will grow by 19.89% on average per year.
EPS Next Y71.04%
EPS Next 2Y37.27%
EPS Next 3Y24.29%
EPS Next 5Y14.75%
Revenue Next Year0.13%
Revenue Next 2Y10.52%
Revenue Next 3Y14.63%
Revenue Next 5Y19.89%

3.3 Evolution

The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
PLUG Yearly Revenue VS EstimatesPLUG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 1B 2B 3B 4B
PLUG Yearly EPS VS EstimatesPLUG Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 -1 -2

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1

4. Valuation

4.1 Price/Earnings Ratio

PLUG reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year PLUG is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
PLUG Price Earnings VS Forward Price EarningsPLUG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 100 150

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
PLUG Per share dataPLUG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1 -2

4.3 Compensation for Growth

PLUG's earnings are expected to grow with 24.29% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y37.27%
EPS Next 3Y24.29%

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0

5. Dividend

5.1 Amount

No dividends for PLUG!.
Industry RankSector Rank
Dividend Yield 0%

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PLUG POWER INC

NASDAQ:PLUG (12/16/2025, 9:52:08 AM)

2.2657

+0.05 (+2.06%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)11-10 2025-11-10/amc
Earnings (Next)03-02 2026-03-02/amc
Inst Owners41.17%
Inst Owner Change23.62%
Ins Owners0.49%
Ins Owner Change1.08%
Market Cap3.15B
Revenue(TTM)676.17M
Net Income(TTM)-2.12B
Analysts64.52
Price Target2.76 (21.82%)
Short Float %25.3%
Short Ratio2.68
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-11.1%
Min EPS beat(2)-27.02%
Max EPS beat(2)4.82%
EPS beat(4)1
Avg EPS beat(4)-160.58%
Min EPS beat(4)-612.34%
Max EPS beat(4)4.82%
EPS beat(8)1
Avg EPS beat(8)-105.32%
EPS beat(12)1
Avg EPS beat(12)-84.66%
EPS beat(16)1
Avg EPS beat(16)-78.06%
Revenue beat(2)1
Avg Revenue beat(2)2.34%
Min Revenue beat(2)-3.32%
Max Revenue beat(2)7.99%
Revenue beat(4)1
Avg Revenue beat(4)-6.21%
Min Revenue beat(4)-28.67%
Max Revenue beat(4)7.99%
Revenue beat(8)1
Avg Revenue beat(8)-12.61%
Revenue beat(12)3
Avg Revenue beat(12)-10.97%
Revenue beat(16)4
Avg Revenue beat(16)-10.7%
PT rev (1m)-9.82%
PT rev (3m)13.73%
EPS NQ rev (1m)-9.35%
EPS NQ rev (3m)-8.86%
EPS NY rev (1m)-28.81%
EPS NY rev (3m)-24.31%
Revenue NQ rev (1m)-2.7%
Revenue NQ rev (3m)0.4%
Revenue NY rev (1m)-6.01%
Revenue NY rev (3m)-1.13%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 4.66
P/FCF N/A
P/OCF N/A
P/B 2.23
P/tB 2.35
EV/EBITDA N/A
EPS(TTM)-2.18
EYN/A
EPS(NY)-0.31
Fwd EYN/A
FCF(TTM)-0.48
FCFYN/A
OCF(TTM)-0.37
OCFYN/A
SpS0.49
BVpS1.02
TBVpS0.96
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -68.32%
ROE -149.73%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-32.97%
ROA(5y)-26.62%
ROE(3y)-62.14%
ROE(5y)-47.41%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.22
Health
Industry RankSector Rank
Debt/Equity 0.25
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 270.3%
Cap/Sales 23.1%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.32
Quick Ratio 0.7
Altman-Z -2.88
F-Score3
WACC8.16%
ROIC/WACCN/A
Cap/Depr(3y)757.88%
Cap/Depr(5y)684.65%
Cap/Sales(3y)65.8%
Cap/Sales(5y)50.45%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1.4%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%52%
EPS Next Y71.04%
EPS Next 2Y37.27%
EPS Next 3Y24.29%
EPS Next 5Y14.75%
Revenue 1Y (TTM)2.53%
Revenue growth 3Y7.77%
Revenue growth 5Y22.28%
Sales Q2Q%1.91%
Revenue Next Year0.13%
Revenue Next 2Y10.52%
Revenue Next 3Y14.63%
Revenue Next 5Y19.89%
EBIT growth 1Y14.36%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year36.5%
EBIT Next 3Y23.33%
EBIT Next 5Y19.56%
FCF growth 1Y62.61%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y55.71%
OCF growth 3YN/A
OCF growth 5YN/A

PLUG POWER INC / PLUG FAQ

What is the fundamental rating for PLUG stock?

ChartMill assigns a fundamental rating of 2 / 10 to PLUG.


What is the valuation status of PLUG POWER INC (PLUG) stock?

ChartMill assigns a valuation rating of 1 / 10 to PLUG POWER INC (PLUG). This can be considered as Overvalued.


What is the profitability of PLUG stock?

PLUG POWER INC (PLUG) has a profitability rating of 0 / 10.


What is the expected EPS growth for PLUG POWER INC (PLUG) stock?

The Earnings per Share (EPS) of PLUG POWER INC (PLUG) is expected to grow by 71.04% in the next year.