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PLUG POWER INC (PLUG) Stock Fundamental Analysis

USA - NASDAQ:PLUG - US72919P2020 - Common Stock

3.81 USD
+0.98 (+34.63%)
Last: 10/3/2025, 7:08:10 PM
3.83 USD
+0.02 (+0.52%)
After Hours: 10/3/2025, 7:08:10 PM
Fundamental Rating

2

PLUG gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 92 industry peers in the Electrical Equipment industry. PLUG has a bad profitability rating. Also its financial health evaluation is rather negative. PLUG is valied quite expensively at the moment, while 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.
In the past 5 years PLUG always reported negative net income.
PLUG had a negative operating cash flow in each of the past 5 years.
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

The Return On Assets of PLUG (-58.75%) is worse than 79.35% of its industry peers.
PLUG has a worse Return On Equity (-117.21%) than 65.22% of its industry peers.
Industry RankSector Rank
ROA -58.75%
ROE -117.21%
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

The Profit Margin and Operating Margin and Gross Margin are not available for PLUG so they could not be analyzed.
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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2

2. Health

2.1 Basic Checks

PLUG does not have a ROIC to compare to the WACC, probably because it is not profitable.
PLUG has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, PLUG has more shares outstanding
Compared to 1 year ago, PLUG has a worse debt to assets ratio.
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 -2.25, we must say that PLUG is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of -2.25, PLUG is doing worse than 71.74% of the companies in the same industry.
A Debt/Equity ratio of 0.23 indicates that PLUG is not too dependend on debt financing.
PLUG has a better Debt to Equity ratio (0.23) than 60.87% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF N/A
Altman-Z -2.25
ROIC/WACCN/A
WACC8.25%
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 1.59 indicates that PLUG should not have too much problems paying its short term obligations.
PLUG has a Current ratio (1.59) which is comparable to the rest of the industry.
A Quick Ratio of 0.82 indicates that PLUG may have some problems paying its short term obligations.
PLUG's Quick ratio of 0.82 is on the low side compared to the rest of the industry. PLUG is outperformed by 64.13% of its industry peers.
Industry RankSector Rank
Current Ratio 1.59
Quick Ratio 0.82
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 small growth in Earnings Per Share. In the last year, the EPS has grown by 1.70%.
Looking at the last year, PLUG shows a decrease in Revenue. The Revenue has decreased by -1.70% 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)1.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%44.44%
Revenue 1Y (TTM)-1.7%
Revenue growth 3Y7.77%
Revenue growth 5Y22.28%
Sales Q2Q%21.36%

3.2 Future

PLUG is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 14.00% yearly.
The Revenue is expected to grow by 20.36% on average over the next years. This is a very strong growth
EPS Next Y76.97%
EPS Next 2Y36.83%
EPS Next 3Y23.81%
EPS Next 5Y14%
Revenue Next Year1.27%
Revenue Next 2Y12.55%
Revenue Next 3Y16.24%
Revenue Next 5Y20.36%

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 500M 1B 1.5B 2B 2.5B
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

The Price/Earnings Ratio is negative for PLUG. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for PLUG. No positive earnings are expected for the next year.
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 10 -10 20 30

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

A more expensive valuation may be justified as PLUG's earnings are expected to grow with 23.81% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y36.83%
EPS Next 3Y23.81%

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5. Dividend

5.1 Amount

PLUG does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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PLUG POWER INC

NASDAQ:PLUG (10/3/2025, 7:08:10 PM)

After market: 3.83 +0.02 (+0.52%)

3.81

+0.98 (+34.63%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)08-11 2025-08-11/amc
Earnings (Next)11-10 2025-11-10/amc
Inst Owners39.35%
Inst Owner Change0.63%
Ins Owners0.58%
Ins Owner Change7.03%
Market Cap4.40B
Analysts64.67
Price Target2.43 (-36.22%)
Short Float %32.84%
Short Ratio5.01
Dividend
Industry RankSector Rank
Dividend Yield N/A
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)0
Avg EPS beat(2)-17.41%
Min EPS beat(2)-27.02%
Max EPS beat(2)-7.79%
EPS beat(4)0
Avg EPS beat(4)-162.1%
Min EPS beat(4)-612.34%
Max EPS beat(4)-1.24%
EPS beat(8)0
Avg EPS beat(8)-111.47%
EPS beat(12)0
Avg EPS beat(12)-87.18%
EPS beat(16)0
Avg EPS beat(16)-84.81%
Revenue beat(2)1
Avg Revenue beat(2)3.58%
Min Revenue beat(2)-0.84%
Max Revenue beat(2)7.99%
Revenue beat(4)1
Avg Revenue beat(4)-10.13%
Min Revenue beat(4)-28.67%
Max Revenue beat(4)7.99%
Revenue beat(8)1
Avg Revenue beat(8)-14.02%
Revenue beat(12)3
Avg Revenue beat(12)-12.81%
Revenue beat(16)4
Avg Revenue beat(16)-10.62%
PT rev (1m)1.32%
PT rev (3m)6.3%
EPS NQ rev (1m)4.75%
EPS NQ rev (3m)10.93%
EPS NY rev (1m)1.17%
EPS NY rev (3m)-3.38%
Revenue NQ rev (1m)0.41%
Revenue NQ rev (3m)-6.11%
Revenue NY rev (1m)0.15%
Revenue NY rev (3m)-2.19%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 6.54
P/FCF N/A
P/OCF N/A
P/B 2.62
P/tB 2.75
EV/EBITDA N/A
EPS(TTM)-2.31
EYN/A
EPS(NY)-0.35
Fwd EYN/A
FCF(TTM)-0.71
FCFYN/A
OCF(TTM)-0.52
OCFYN/A
SpS0.58
BVpS1.46
TBVpS1.39
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -58.75%
ROE -117.21%
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
ROICexcg growth 3YN/A
ROICexcg 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 Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 312.46%
Cap/Sales 32.06%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.59
Quick Ratio 0.82
Altman-Z -2.25
F-Score3
WACC8.25%
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)1.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%44.44%
EPS Next Y76.97%
EPS Next 2Y36.83%
EPS Next 3Y23.81%
EPS Next 5Y14%
Revenue 1Y (TTM)-1.7%
Revenue growth 3Y7.77%
Revenue growth 5Y22.28%
Sales Q2Q%21.36%
Revenue Next Year1.27%
Revenue Next 2Y12.55%
Revenue Next 3Y16.24%
Revenue Next 5Y20.36%
EBIT growth 1Y22.06%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year49.61%
EBIT Next 3Y25.08%
EBIT Next 5Y20.54%
FCF growth 1Y51.15%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y42.39%
OCF growth 3YN/A
OCF growth 5YN/A